Generating demand for your brand in a saturated market can be onerous. Contrary to the traditional lead generation focused on one aspect of pre-sales, demand generation assumes a more holistic approach that takes into account both sales and marketing.
It starts with identifying your target market and audience segments that are more likely to resonate with your brand messaging. The leads generated via the demand generation campaigns are better in quality as compared to the traditional lead generation framework.
Demand generation is about making your audience aware of the needs they haven’t addressed yet and then matching your product or service as the perfect solution to these problems.
As they say- “For great things to happen, greater plans are needed.” Building a successful demand generation campaign needs a strategic plan and tactical implementation. Let’s dive into the details-
Demand generation is a marketing strategy that fills the gap between sales and revenue by driving the relevant audience towards your products or services. Even though every demand generation campaign looks different, there are some steps that each campaign has in common to grab the attention of the prospects and create the brand’s demand in the market, setting it up for success.
You must identify:
- Ideal Prospects
- Their pain points
- The questions they ask
- Their buying behavior
Once you’ve thoroughly understood your market and how your audience responds to your brand messaging. Here are the steps to follow-
Create a Proper Need for Your Product or Service
Your potential prospects will initially be unaware of the problems and pain points that your product can solve. For a successful demand generation campaign, it’s crucial to educate your audience about their pain points and make them understand why they must invest in your brand. You need to drive your audience to the product by explaining how it will make their lives easier and more successful.
Include Informative Content to begin with
Your content needs to be intriguing, informative, and purposeful. It should give people what they’re looking for and then some! Write detailed blogs, how-to guides, case studies, e-books, and other resourceful pieces of content that establish your brand as a leader and give it the much-needed authority. High-quality content creates brand awareness and buzz about your product or service. This could help in increasing conversion rates.
At the same time, the goal shouldn’t be to sell but to answer their questions and build trust and loyalty. This will increase the prospects’ interest in your product or service and will help generate the demand your business deserves.
Create a lead magnet
Before you create lead magnets to garner more attention, build detailed buyer personas. This way, you can have a laser-focused approach to deliver the value your audience expects. You need to create a lead magnet your customer can’t help but notice. A lead magnet can be in the form of a checklist, e-book, quiz, or access to exclusive content.
Be very clear with your value proposition. Keep your lead magnets simple- easy to read and easy to leaf through!
Strong Social Media Presence
After all the efforts you put into making your audience aware of their problems, you need to help them trust your brand, so they ultimately choose your product or service and buy from you. Show what your brand is made of; its vision, its people, its expertise.
Social media gives the best reach if you are successful in building engagement. It will give your brand more exposure. The content you put on social media should be enticing enough to stand out. Create conversations and invest your time in social listening. Getting to know what people have to say about your brand will help you further enhance your demand generation strategies.
Last but not the least- Measure the Success
Revenue is the most important metric that helps you measure the success of your demand generation efforts. But, there’s more to it that paints the success picture. You need to analyze your sales cycle and the impact of these marketing campaigns on it. Track your lead sources and calculate the CPA. Which channels are working the best? Which tactics are driving the most revenue? How is customer retention? You need answers these questions to truly gauge the success of your demand generation campaigns.
The goal of demand generation is to create better relationships between a brand and its customers. Pin down your campaign goals to achieve what is most important to your business right now.