7 Quick Tips About Demand Generation for marketers
15 January, 2017
Marketers and customers mix up Inbound Marketing with lead nurturing and demand generation. While these concepts are related, they’re not the same. We also face conflicting views: are we to promote the values and attributes of our customer’s digital branding or do we just focus on generating the right leads, shutting the door for other interested parties?
Here’s a series of tips to clear up the notions behind demand generation.
1. Demand generation and lead nurturing foster each other
Business.com says that “on one side, you will have employees fiercely defending web site content as a tool for lead generation. And on the other, you’ll have marketers championing content they can share on social media, regardless of the leads.”
Marketers often fail to see that these concepts are complementary. But you cannot generate leads without positioning your brand first; likewise, the company name has no value without strong prospects, leads, customers, and promoters.
Branding is emotional: it appeals at showing the values and attributes of a brand. Lead conversion is logical and focused: we need to attract and nurture the right prospects, qualifying those most likely to use our product or service.
Lead generation seeks to make contact; demand generation seeks to make a name.
2. It can open new markets
HubSpot’s Content Strategist Ritika Puri says that “ultimately, demand generation captures the umbrella of marketing programs that get customers excited about your company’s product and services.”
“Demand generation programs can help your organization reach new markets, promote new product features, build consumer buzz, generate PR, and re-engage existing customers.”
In that regard, demand generation engages a series of “touch points throughout the conversion optimization and sales cycles,” according to the Hubspot expert. Then, it seeks to drive awareness and interest in your product or company, including consumers who have never heard of you before, tells Business.com.
3. Rather than a tactic, it’s a long-term strategy
After all, not all interactions online with visitors will end up with qualified leads. It is important to build and “nurture key prospect and customer relationships for the long term,” Ritika Puri says. Marketers need to respond to people’s questions on social media, promote blog posts and run email marketing campaigns.
You may have the same inbound marketing tactics: blogs, social media content or ebooks. To Ritika Puri, Inbound Marketing is just one type of demand generation activity with content driven resources such as videos, podcasts or newsletters.
From lead generation, contents influence conversion and nurturing high-quality leads.
It “goes a step further by seeking to capture the contact information, such as email addresses or phone numbers, of interested consumers”, says Business.com.
From demand generation, these resources, such as social media communications with customers, help establish a company and its staff as thought leaders, influencers and an important source of information on the industry.
While you may not procure any leads immediately, the awareness generated about your brand for particularly viral pieces of content may result in leads further down the line,” says Business.com.
5. It focuses on broader queries and pain points
With lead generation, strategies are gated, while demand generation uses social media to communicate as part of a broader customer relationship management strategy, engaging consumers on a one to one basis. “For instance, regarding SEO, rather than addressing specific topics, demand generation can address more general queries for the industry, to readers that may not be at the stage to making a purchase, and are just looking for information. This can forge a relationship with consumers starting to look earlier on.
6. It helps position your brand, expertise, and reputation
The buyer journey goes through a lengthy awareness stage. Consumers buy the products and services from the brands that they know and trust. Generating consumer confidence is a long process.
“By becoming the first source of information, you’re positioning your brand as an authority in the industry,” says Business.com.
7. It is a cyclical process
We’ve covered the Inbound marketing Methodology, where strangers ultimately become customers and -if we’re lucky- they turn into brand promoters.
While marketing automation and lead generation stats gives us numbers and figures regarding outreach and engagement, third party referrals are one of the strongest influencers for people to make buying decisions. Brand promoters help nurture the marketing conversion funnel once more.
Do you use demand generation? How is your digital marketing strategy positioned within these techniques?