7 Highly Effective Demand Generation Strategies
Demand generation, also commonly referred to as demand gen, is a marketing strategy that is both data driven and technologically based. With an ever-increasing global marketplace, companies are recognizing now more than ever before how important marketing strategies are for long term business success.
With so many different marketing strategy options available it can be difficult for businesses to identify which are the best to invest in and implement. Thankfully, demand generation combines different marketing tactics in order to increase the likelihood of success.
Creating and maintaining a marketing strategy that is valuable and useful to both potential customers and existing customers is challenging. The best demand gen campaigns know that long term success depends on both revenue generation and continual business growth.
However, without proper demand generation strategies in place, there is not a high likelihood of campaign success. 7 strategies to improve demand gen effectiveness include-
1. Brand Definition
Brand awareness is a foundational component of any successful demand generation strategy. Although best practices clearly indicate how important a brand is to business success, some professionals do not understand what brand definition actually entails.
Whenever efforts are undertaken to develop or redefine a brand, companies need to consider aspects ranging from social media presence to customer experience expectations.
2. Buyer Personas
Accurate buyer personas make a significant difference for an effective demand generation campaign. Every buyer persona built should include information ranging from pain points to decision making behaviors.
For B2B sales, buyer personas are commonly referred to as ideal customer profiles or ICPs. ICPs and buyer personas influence every aspect of the buyer journey and customer journey significantly.
3. Content Creation
In order to create demand for a specific product or service, content must be particular and persuasive. When creating content business professionals should consider buyer persona pain points carefully.
A great content strategy generally utilizes a variety of marketing efforts including-
- Email marketing
- Blog posts
- Social media marketing
- Inbound marketing
- Account based marketing
Marketing tactics like blog posts and email marketing initiatives should aim to build trust with potential customers while maintaining trust with existing customers. Content created should also be data driven including case studies when appropriate.
Tip-: Offering a free tool to potential customers can help gather high quality lead data.
4. Communication Channels
There are so many different communication channels available for marketing professionals to choose from. While some potential customers prefer to learn through blog posts or social media platforms, others prefer a more hands on approach such as an in person product demonstration.
Marketing departments should clarify in their buyer personas which channels their target audience engages with most frequently. It is also important to note when creating content that content should never be disruptive to the target audience in order to avoid pushing potential customers away from engaging.
5. Conversion Pathways
The buyer journey and customer journey must stay at the forefront of every successful demand generation strategy. The best demand gen campaigns are always searching for opportunities to connect with their target audience in a real and meaningful way.
Marketing automation can be utilized to decrease the workload placed on both the sales team and marketing team professionals. For example, an automated prescheduled email to a potential customer in the marketing funnel can be a great way to check in.
However, experts warn that marketing automation can be counterproductive if it is not used correctly. Finding a middle point between automation and personalization is crucial to ensuring the best demand gen campaign possible.
Note-: Collaboration between sales teams and marketing teams is one of the pillars of effective demand gen marketing.
6. Tech Stack
Creating and sustaining a great demand gen campaign is unlikely without the proper technological tools. A tech stack for a demand gen marketing team may include marketing automation platforms as well as customer service tools.
Customer acquisition and generation of high quality leads are much easier with integrated and useful technological tools. One great way to find out which tech stack is the best fit for a specific company is by testing out free tools and software trials.
7. Measurement System
Without a proper measurement and tracking system in place, it is difficult, if not impossible, for companies to know what marketing strategies are working best. Defining the relationship between marketing tactics and generated revenue is important to understanding if demand gen is a good fit for a specific company's needs and objectives.
If a marketing strategy does not create demand or generate leads successfully, data driven revisions to the strategy may be necessary. Any updates in marketing strategies should also be shared with both sales teams and customer service teams.
- Search engine optimization and social media strategy are two common components of the best demand gen campaigns.
- Demand gen strategies range from brand awareness initiatives to high quality tech stack investments.