Demand generation strategies refer to the marketing efforts aimed at creating and nurturing demand for a company’s products or services.
Building brand recognition, boosting website traffic, and securing prospective leads are all achievable goals with a solid and tested demand generation strategy.
Demand gen is somewhat different from lead generation but essentially acts as the antidote to silos between sales and marketing departments. Therefore, demand creation is your answer if you want to engage your audience and bring in more customers but in a more sustainable way.
Demand generation or demand gen is a marketing tactic that aids in boosting interest and awareness in a company’s goods or services with the primary goal of developing long-lasting relationships with your ideal customers. A reasonable, comprehensive, and all-encompassing procedure that often involves several key companies’ marketing divisions to help achieve this.
Demand generation is commonly referred to as a funnel, much like conversion routes. The objective is to move prospects through the buying process while also converting them into qualified leads, which you can then convert into new customers.
It involves a range of tactics and strategies aimed at driving leads and conversions and ultimately, boosting revenue. In today’s digital age, demand generation has become more important than ever, as businesses look for ways to stand out in a crowded online marketplace.
Importance of High-Quality Conversions
High-quality conversions refer to leads that are more likely to result in a sale. These conversions are often characterized by a high level of engagement with a company’s brand and a strong interest in the products or services being offered.
While generating any kind of conversion is important, high-quality conversions are particularly valuable because they are more likely to result in long-term customer relationships and repeat business.
10 Proven Demand Generation Strategies
A. Segment Your Target Audience
One of the first steps in any successful demand generation campaign is to segment your target audience. This means breaking down your potential customer base into smaller, more defined groups based on shared characteristics such as demographics, behavior, and interests. By doing so, you can tailor your marketing efforts to better resonate with each specific group and increase the chances of a high-quality conversion.
B. Invest in Content Marketing
Content marketing is a powerful demand-generation tool that involves creating and sharing valuable, relevant, and consistent content with your target audience. This content can take many forms, including blog posts, videos, infographics, and more. The goal is to educate, engage, and build trust with your target audience, thereby increasing the likelihood of a high-quality conversion.
C. Utilize Email Marketing
Email marketing is another essential demand generation strategy that can help drive high-quality conversions.
By sending targeted, personalized emails to your subscribers, you can build relationships, educate them about your products or services, and ultimately, drive them toward a sale. According to a study by the Direct Marketing Association, email marketing has an average ROI of 4300%, making it a highly effective demand generation tool.
D. Leverage Social Media
Social media has become an increasingly important demand generation channel in recent years, as more and more consumers spend time on social platforms.
By creating a strong presence on social media, you can build relationships with your target audience, drive engagement, and ultimately, generate high-quality conversions. It’s important to choose the right social media platforms for your business, based on where your target audience is most active.
E. Focus on Search Engine Optimization (SEO)
Search engine optimization (SEO) is the process of optimizing your website to rank higher in search engine results pages (SERPs) for specific keywords related to your products or services. This can help drive more traffic to your site, increasing the chances of a high-quality conversion.
A well-optimized website can also improve the user experience, making it easier for visitors to find what they are looking for and ultimately, increasing the likelihood of a conversion.
F. Use Influencer Marketing
Influencer marketing involves partnering with individuals who have a large following on social media or other online platforms, to promote your products or services. By leveraging the influence of these individuals, you can reach a wider audience, drive engagement, and ultimately, generate high-quality conversions.
It’s important to choose the right influencer for your business, based on the interests and behavior of your target audience.
G. Implement Retargeting Ads
Retargeting ads involve showing ads to people who have already interacted with your brand, either by visiting your website or engaging with your social media channels.
By showing these ads to individuals who have shown an interest in your business, you can drive them back to your website and increase the chances of a high-quality conversion. According to a study by AdRoll, retargeting ads have an average conversion rate of 10%, making them a highly effective demand-generation tool.
H. Utilize Landing Pages
Landing pages are specific pages on your website that are designed to convert visitors into leads. By creating targeted, high-converting landing pages, you can drive more high-quality conversions for your business. These pages should be designed with a clear call-to-action (CTA), making it easy for visitors to take the next step toward a sale.
I. Invest in Paid Advertising
Paid advertising, such as Google Ads and Facebook Ads, can help drive more traffic to your website and increase the chances of a high-quality conversion.
By targeting specific keywords and demographics, you can reach a highly-qualified audience who is more likely to convert. It’s important to monitor your advertising efforts and make adjustments as needed, to ensure that you are getting the best possible return on investment (ROI).
J. Offer a Free Trial or Demo
Offering a free trial or demo of your products or services can be a highly effective demand-generation strategy. By allowing potential customers to experience your offerings firsthand, you can build trust, educate them about your business, and ultimately, increase the chances of a high-quality conversion. According to a study by Software Advice, free trials are the most effective conversion optimization technique, with an average conversion rate of 14.6%.
In conclusion, demand generation is an essential component of any successful marketing strategy.
We strongly recommend companies build in-house Demand Centers and align them with outsourced B2B growth scientists/specialists. Demand Centers guide customer journeys by combining centralized demand generation and informed sales response.
B2B marketing and sales are changing due to digital tech development and everyday more complex buyer behavior. To overcome challenges, the creation of Demand Centers with the help of expert growth marketers will help centralize demand generation and lead management as supported by Boston Consulting Group. When properly executed, they can result in striking outcomes. This improves efficiency, skills, and reach, boosting growth at a lower cost.