Demand Generation: Marketing Strategy & Program Definition

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What is Demand Generation Marketing?

One of the main challenges that companies face today is to create demand for their products and services. Demand generation helps identify potential prospects based on their initial behavior and guides them through a nurturing process so that your sales team gets high-grade, highly-qualified leads.

Although demand generation has a lot in common with lead generation, this approach takes time. It includes numerous touchpoints, campaigns, and content pieces and comprises just about anything your company does to create brand awareness and recognition.

But, what is a demand generation strategy? Read on to find out.

In this article, you’ll learn the demand generation definition and how demand generation marketing can help your brand.

What is Demand Generation?

What is demand gen? Demand gen refers to any activity that drives awareness and interest in your brand with the ultimate objective of producing a predictable pipeline that’ll grow your business.

It’s an umbrella term that covers all your marketing and sales initiatives from every touchpoint in the buyer’s journey –from initial prospect interest to upselling customers.

Today, demand generation isn’t just about creating demand for sales. It is not about forcing demand or deceiving customers into purchasing things they don’t need. It’s about delivering the right info to the right people at the right time so that whatever you’re offering is the perfect fit for your ideal consumers’ needs.

The Importance Of Demand Generation

Demand generation programs can help your brand reach new markets, promote new product features, generate consumer buzz, create PR, and re-engage current consumers. It empowers you to build and nurture key prospect and customer relationships for the long term.

And that’s what all marketers want, isn’t it? Demand generation is different from other customer acquisition strategies as it’s a commitment to lasting customer relationships and a strategic mindset.

Demand Generation vs. Lead Generation

Are demand gen and lead gen similar? Many marketers use these two terms interchangeably, however, they aren’t the same. Demand gen is a holistic process and long-term approach that encompasses all stages of the buyer journey from awareness and consideration to research and justification.

Lead generation is a subsection of demand gen that has a narrower focus on the top of the sales funnel. The objective of lead generation is to transform targeted audiences into quality leads. It includes gathering info from leads that can be used to qualify and nurture them into consumers.

Demand Generation Strategies

Offer Freebies That Give Real Value

Regularly offering giveaways of real value has numerous benefits. Firstly, it builds a sense of trust between your target customers and your brand, which means they’re more likely to come back to you. Secondly, it reflects well on your business, turning passionate prospects into your brand ambassadors.

Lastly, in exchange for the freebie, your visitors are more likely to share whatever info you need to begin qualifying them as a viable lead, which is the first stage in the demand generation process.

Create Lookalike Audiences In Facebook

This strategy will come handy if you’re already using Facebook ads. Lookalike audiences are custom audiences that bear a close resemblance to consumers that have already shown interest in your products, services, or content, based on demographic and behavioral similarities.

This will help you increase the possible reach of your Facebook ads by leveraging the massive wealth of data that Facebook has on its users. The larger the custom audience you upload, the more widely you can cast your net using lookalikes.

Leverage Webinars

Many brands all over the world are already producing engaging webinars as a part of their demand gen strategy. However, if you can’t create one on your own, you can partner with the industry gurus on different webinars.

This will upturn your reputation in the industry, create valuable connections with important influencers, and increase your brand awareness. And, these are all critical elements of a continuing demand generation tactic.

Gain An Expert’s Perspective

An effective demand gen strategy is an indispensable step toward improving your marketing funnel and boosting your lead generation efforts. A crucial pillar of any fool-proof demand generation tactic is consistent optimization powered by cross-channel analysis. That’s why we recommend onboarding an expert who knows how to optimize your funnel to cater the various stages of the buyer’s journey.

An experienced marketer constantly experiments and optimizes to simultaneously drive efficiency and revenue for your business. As a result, they are able to effectively attribute marketing’s contribution to returns, offering superior visibility that extends beyond your entire marketing and sales funnel.

When planning demand gen strategies, identifying a methodology that aligns with your brand image and helps you reach your objectives can be challenging. 

 

At LeadJig, we can provide you with all the essential financial services marketing tools and data needed to make informed decisions and maximize your chances of success. 

 

To learn more, please request a demo and we’ll guide you through the entire process.

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