Demand generation is gaining traction as one of the most important marketing strategies for B2B companies. For one, it drives awareness and interest in your products that contribute to reliable revenue generation. And two, it provides a streamlined, proven, and consistent strategy for engaging high-fit leads and retaining them for the long haul.
Demand generation is an umbrella term that covers all your business’s marketing efforts, encompassing all touchpoints in the buyer journey – from convincing anonymous visitors to cross-selling your existing customer base. This is the fundamental difference between traditional marketing, which merely measures the number of leads brought in. Demand generation, on the other hand, measures the actual revenue generated by those leads.
Keep reading to find how demand generation can boost business sales.
Develops A Unique And Memorable Brand Identity
Your brand identity is unique to you and influences customers’ perception of your business. This covers basic things such as your tone of voice, colours, logos, and messaging and beyond. It includes things such as your unique selling proposition (USP) and code of conduct. In essence, your brand guides how you interact with clients, and also how your employees feel about working at the company and the services or products your create.
Demand generation strategy requires taking complete control over your brand. It usually involves answering questions such as:
- What does my brand represent?
- What is my brand’s narrative?
- Why should clients prefer my brand over my competition?
Finding the answers to these questions can point you in the right direction and is one of the puzzle pieces that makes up an effective demand generation strategy.
Create And Reinforce Detailed Buyer Personas
With your brand identity in tow, you can start working on your buyer profiles and customer personas. Identifying best-fit prospects for your product or service is central to the theme of demand generation strategies, both at the individual and organization level.
For the uninitiated, buyer personas involve the identification of the most common pain points and difficulties your ideal customers face, how they make decisions, as well as their demographic profile.
This is just as important for B2B companies as it is for customers. The buyer persona you create will target individuals who work for businesses that you think are a good fit for your services.
Creation Of High-Quality Content
Content creation plays an important role in convincing prospects that your product or service is right for them. An effective demand generation strategy requires creating content that is aligned with your customer’s pain points. It should also be consistent with your brand identity.
High-quality content creates awareness about a problem people have and informs them what steps they can take to solve that problem. This is usually where your product or service comes in. Content generation is all about discussing the value your organization brings to the table.
An effective content generation strategy encompasses webinars, social posts, emails, blogs, templates, and landing pages. Consider investing your time and money into video creation to maximize your reach.
Capitalizing On Customer Acquisition Platforms
The concept of customer acquisition platforms is simple: you target your audience when and where they are ready to convert. This doesn’t have to be just your website, customers also spend a significant portion of their time watching videos and listening to podcasts. You need to consider which platforms and acquisition platforms are relevant to your buyer personas.
Timing is also just as important when figuring out where to promote your content or place ads. The trick is to appear in front of prospects when they have the right mindset to convert. For instance, we wouldn’t create ads on a fitness channel because, as a lead generation agency in London, our services require a different media choice. We would, however, try to advertise on Marketing School Podcast, by Neil Patel and Eric Siu.
Other ways of content promotion involve PPC, social media marketing, as well as email marketing. Once again, make sure your promotional content or ads are aligned with the way your buyers think.
Optimize Your Marketing Technology Stack
Tech stack optimization leverages how you do business while enabling team alignment. It can play a pivotal role on improving customer experience. There is one big challenge in finding the right combination of marketing tools: the constantly changing tech landscape. Even one poorly integrated tool can kill your lead generation abilities.
However, when you choose the right set of tech tools, you can stay on top of important processes from marketing automating to customer management to sales intelligence. Make sure your tech stack is aligned in the best way possible with your goals and enables your team to offer a five-star experience.
While every industry has its own requirements for different tools, most tech stacks include the following:
- Marketing automation software
- CRM system
- Content management system
- Analytics platform
- Business intelligence platform
- A customer service tool
Make sure each system works in perfect synchronization with each other so that your sales personnel can seamlessly perform their daily tasks.
Successful demand generation strategies require an understanding of marketing attribution and how they contribute to company revenue. To make this possible, all decisions you make should be based on data that leads you to that decision, especially with your overall marketing strategy.
This requires regular reporting, keeping everyone in the same loop on priorities and goal attainment. This will enable your sales, marketing, and customer service teams to easily track and work towards the same goals to ensure you are heading in the right direction: revenue generation and expansion.
Demand generation strategy focuses on bringing in customers and getting them invested in your company and your offerings. It requires an identification of the best-fit prospects and then retaining them for cross-selling.
This will allow you to acquire repeat business, which in the long run will provide a more reliable source of growth and revenue.
Find out how you can deploy a powerful demand generation strategy that works for your company. At Fyami, we offer successful growth hacking services that lay the foundation for businesses worldwide. Click here to start a conversation.