Demand generation in marketing refers to the process of raising awareness and demand for your good or service. The objective is to increase your audience, establish your authority, and create interest in your brand so that it generates high-quality leads. Demand gen includes a broad range of operations that begin even before you've found a prospect. They continue even after the prospect converts and becomes a customer. You need alignment and openness between your sales and marketing divisions, with both teams being able to spot gaps or blockages in the process, for effective demand generation.
Tips for better demand generation campaigns
No one method works for all demand generation activities because they varied so widely. But here are three recommendations for effective demand gen campaigns.
1. Know your customer
Make a profile of your ideal customer (ICP). This will serve as the compass for all of your demand generation plans. Narrow it down as much as you can so you can create a message that addresses their concerns.
2. Track everything
As much as you can, measure, and consider the outcomes. Expand on what is effective and eliminate what is not. You can get aid with demand generation reports from technology.
3. Have a great site
After reading your article, your ICP will visit your website first. Be sure it presents you and your business in the best possible way.
Demand generation metrics
1. Cost per acquisition (CPA)
the typical price of acquiring a single paying client. Your entire demand generation operation will have a CPA, but you can also receive a CPA for certain lead sources or activities.
2. Customer lifetime value (CLV))
The typical net profit a customer will bring to the business over the course of their relationship with you. Your sales staff and customer success team can make a difference by increasing the CLV.
3. Demand gen cycle length
the typical time it takes to convert a lead into a customer. The objective is to cut this time as much as we can.
What are the best demand generation strategies?
Engaging, high-quality, and authoritative content that drives your target customers is produced via a powerful demand generation program. Let's examine the best lead creation strategies you may use in your marketing plan.
1. Content marketing
Decision-makers, influencers, and researchers concur that "material that spoke directly to and displayed expertise around the demands of the organization's unique industry" influenced their choice, according to the 2021 B2B Buyers Survey.
You can choose from a wide variety of content categories to increase demand for your company. For instance:
- Blogs - online publications that inform your audience and aid in your visibility on Google.
- YouTube videos that examine your product or subjects important to your target market.
- eBooks, which you can distribute for free on your website in the shape of long textbooks or whitepapers.
- Podcasts/webinars - in-depth discussions of particular business topics or product features, frequently with outside guest speakers.
- Industry insights - asking influential people to contribute to and share your content with their networks.
2. Account-based marketing (ABM)
Because it focuses on a specifically targeted demographic, running account-based marketing campaigns is a terrific method for B2B demand generation. Companies implementing ABM witnessed an 84% increase in reputation scores and a 74% improvement in customer relationships, according to the ITSMA Survey.
With this strategy, you may influence demand with particular businesses and people, which improves results further down the sales funnel. You can use LinkedIn advertisements, email marketing, or direct email to perform ABM campaigns. They are affordable methods of reaching the inbox of your potential client.
- Here are some of the lead gen best practices you should follow while using this strategy:
- Use your content (and other demand gen strategies) to build an email list.
- Segment your list into precisely-targeted groups.
After that, use email automation software to start email sequences that remind your prospects of you.
Make sure you keep track of email responses and continually seek methods to enhance outcomes. See the best instances of email marketing efforts that generate demand.
3. Paid advertising
One of the quickest methods to create demand is to pay to be where your target clients are online.
Pay-per-click (PPC) advertising that put you at the top of Google when someone searches for your chosen keyword can help you market your content. Or you can spend money to appear in the social media feeds of your potential clients.
Platforms like Google and Facebook provide thorough data on the back end, making it simple to identify what is and is not performing.
