What is demand generation and how do I incorporate its strategies into my business?
Demand generation is what a brand does to get attention of customers and instill a desire in them to buy, learn, and engage with your company. It uses various marketing strategies to capture customers and move them through your funnel.
Demand generation is an umbrella strategy and should be treated as a flywheel. This should be done by first identifying audiences that seem appropriate buyers for your plan and then funneling them through your conversion path. The difference here between traditional marketing conversion paths or inbound marketing is that demand generation requires close cooperation of both the marketing and sales departments.
Although demand generation does sound a lot like lead generation there are a few important differences. Demand generation, as mentioned earlier, is all about what a company does to attract attention of a customer and why they decided to engage. Lead generation deals with the following aspects concerning how to convert this attention into worthy leads. Demand generation also focuses on creating that initial bond with a customer while lead generation is focused on sending them through the sales funnel.
Demand Generation Strategies
- Invest in Content Creation
- Don’t Overlook the Benefits in Remarketing
- Provide a Free App, Tool, or Resource
- Email Marketing
- Build Up Your Listings on Review Websites
- Invest in Search Engine Marketing
- Team Up With an Influencer
- Co-market with a related business or partner
Invest in Content Creation
Although inbound marketing and demand generation are different in many aspects, inbound marketing can generate a large amount of attention for your company. With this in mind it is important to be constantly producing content that will drive customers to your site. One main way of generating attention is through blog post just like this one. Other popular forms of content include: cheat-sheets, checklists, ebooks, kits, webinars, training courses and webinars. Even if you are already putting out content, it is imperative to keep your audience interested. Links to examples and testimonials in blog posts or including an industry professional in your webinars will build trust in readers and will draw more attention to your brand.
Don’t Overlook the Benefits in Remarketing
Often times remarketing is looked at as a strategy for increasing conversion rates, but what many don’t realize is it’s power of also increasing brand awareness. Serving ads to people that are related to pages people have recently visited is an amazing way to get them exploring new sites. Two applications you can use to find prospect audiences that view similar pages are Facebook lookalike audiences and Google dynamic remarketing. Through these applications you can identify possible new leads and pop up ads while they are searching around featuring your brand.
Provide a Free App, Tool, or Resource
Offering a free tool or resource is one of the most effective strategies of demand generation. It not only gives them an insight into what type of service or product you can offer them, it instills trust in your audience. Putting out some of your best work to be viewed for free allows prospects to analyze what your company is all about and leads them to make a more informed decision whether or not they want to buy your product.
Email marketing is one form of marketing that is often overlooked but can be extremely effective as well as fairly low cost to produce. Emails can help capture new customers while also increasing rate of retention. Creating an email list and sending periodic generated emails can help you increase your amount of active customers in no time.
Build Up Your Listings on Review Websites
Customer reviews are another imperative resource to build trust in your company. The more people see others talking about your product the more they want to join in. This popularity increases attention which is why it can be smart for companies to invest in top spots and listings on well known websites. If a prospect is dealing with a problem they often go straight to Google and look for their best solutions.
If your company's name pops up in the lists of helpful solutions in the top search appearances, activity will likely skyrocket. Getting your name on the premium websites is all you have to worry about in this scenario because they will make sure they are appearing at the top in search engine result pages. If you do not have the budget to put your company on multiple premium websites getting started with claiming your Google Business Page will help increase growth and allow you to control conversations surrounding your company.
Invest in Search Engine Marketing
Getting your company listed on popular review websites that show up in top search engine results pages is important but so is getting your website alone to show up on the first page of search engine results. According to MarketingLand, 94.4% of organic clicks happen on the first page of results.
If you have not yet built domain authority to get your website on the first page, try using pay-per-click ads to get your site at the top of search engine results. Keywords are also an important part of this process as certain words and phrases will help your site to appear above others when the specific keyword is entered into the search bar. Having your company appear as a top search result will help to increase growth.
Team Up With an Influencer
In today’s world with Instagram and other social media apps, a celebrity or well-known industry professional can be an amazing marketing tool that can help gain many potential buyers. Not only does a post by an influencer bring attention to the company, but it also instills trust in the product.
In 2016, 94% of marketers found influencer marketing to be effective, according to Pardot. Customer reviews are essential in selling a product but a well trusted celebrity or influencer’s review can bring a much larger amount of attention.
Co-market with a related business or partner
Marketing is extremely effective but it can also be expensive. One way to combat this is to pair up with similar business or a partner to market your companies together. Co-marketing also allows you to market to a whole new audience that could benefit from your product or service. Deciding on your approach of marketing can be worked out with the participating company but joint blog posts, events, webinar, or cross-promotional agreement are all valuable ways to draw attention.
The most important factor to consider in co-marketing is making sure that the audience of your partner is similar to yours because there is no point marketing to an audience that is uninterested in your product/ service. Co-marketing done right can benefit both companies in immense way by gaining new audiences while using an affordable approach.
Demand generation is about attracting attention from new prospects. Using strategies including email marketing, increased content creation, co-marketing and more brings engagement from future customers and kicks starts lead generation. Demand generation truly is a funnel and is all about grasping new people to move along your conversion path. It is all about finding ways to make your name pop up somewhere and interest someone new.
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