Demand generation is now one of the most popular marketing strategies for modern businesses. Due to the all-encompassing nature of demand generation, it offers streamlined, highly effective, and consistent methods to engage with prospects before they are even aware that your business exists too long after they have made a purchase as closed as your customer.
Keep reading to learn more about demand generation and its impact on your marketing strategy.
Demand Generation Defined
The term demand generation is used to describe the comprehensive program of marketing and sales efforts used to help generate interest about the service or product you offer while nurturing high-fit prospects into actual customers and retaining those customers’ long term.
When you create an effective demand generation strategy, you discover new opportunities and create them. This includes data-driven business growth, sales and marketing alignment, and more. With demand generation, you can make smarter decisions for your business.
Traditional marketers measure success by the leads that come in. However, as a demand generation marketer, you are measured on how much you contribute to revenue. This means you pass over leads to the sales department that are a good fit for the company and have a high likelihood of becoming actual customers.
Tips to Increase Demand and Drive Revenue
Demand generation is something that involves all stages of the marketing funnel. This includes bringing an unknown visitor to your website to converting the visitor into a paying customer. It also requires total visibility into your funnel to find the opportunities and gaps to optimize to improve performance.
Effective Strategies to Increase Demand
Demand generation involves several moving parts. However, once you learn what they are, you can use them to help drive powerful results for your business. Some strategies to use include:
Set SMART Goals
Generating a steady, predictable source of demand means you create a strategy with specific goals in place. When you set sales and marketing goals and align the goals with your buyers’ needs, you can create a more focused strategy.
Make sure you set SMART goals, which will help you create an actionable plan that ensures you reach them.
Buyer’s Journey and Persona Development Alignment
Successful lead generation starts with your buyer personas. It’s smart to consult with your sales and marketing team and conduct some outside research to figure out your ideal customer, what goals they have, their challenges, and how what you offer will solve these things. After creating the buyer personas, you can use customer data to determine the buyer’s journey.
Understanding Demand Generation
Demand generation is an important part of any marketing strategy. Being informed and knowing what it is and how to use it is essential to ensure your marketing plan is comprehensive and working to help bring in new customers. While demand generation and lead generation may seem similar, they are actually quite different. Keep this in mind as you change and improve your marketing strategy.