Demand generation marketing is where a business uses marketing to drive awareness about their product or service. It is a process made to grow your business by encouraging potential clients to seek a product or service. Or, in other words, the process of turning a lead into a client. When you use demand generation marketing, you can quickly find out about a prospect’s needs and find a way to meet them. This is a long term approach to client engagement.
How does demand generation marketing differ from lead generation?
Demand generation marketing creates interest and demand for a product or service prior to launch. Whereas, lead generation can be used to get customer data so you can sell to them in the future. This makes demand generation more forward-thinking. It aims to create interest in the product long before its launch. This will lead to more profits at launch.
To conduct demand generation you can create content that goes under many guises like ebooks, videos, infographics and webinars. The idea behind a demand generation campaign is to get customers excited about a product or service even when it’s not available yet. These campaigns help by making customers feel like they’re part of something special. The ultimate goal of this, is to get more sales revenue. However, along the way your brand will become better known among those who engage with your content.
Speed up sales
After you have captured demand, you should speed up your sales. You can speed up your sales using pipeline acceleration. The first thing to note is that pipeline acceleration isn’t just about sales, but applies to marketing in general. Reinforcing a pipeline can achieve a shorter sales cycle time. Hypothetically speaking, there are usually 3 main classes of prospects – warm leads, hot leads and batches. A typical funnel will go like this: Warm leads (low engagement) –> Hot leads (medium engagement) -> Batch (high engagement). It’s important to start off with warming up your readers so you can prime them for your call-to-action. If you have cold leads, you can use services such as Triggr to help you find contacts.
Demand generation captures the steps from lead to sales. Improving each step will allow better knowledge of your products and services.