The digital world is saturated with companies marketing their offerings left and right. As a business competing in the modern marketplace, you need to be proactive. Your efforts should lead to returns, regardless of whether they’re done organically or inorganically.
Demand generation isn’t difficult, but it’s not so simple either. When done with half-heartedness, it won’t lead to good results. But when done right, it can lead to significantly higher ROIs for your business.
The following post is aimed at showing the various demand generation strategies you can apply to your marketing efforts today.
Let’s get down to basics first though.
What Is Demand Generation?
Demand generation builds interest and awareness for a brand, and its various products in the eyes of the target audience.
It’s a laser focused eCommerce marketing technique that aims at targeting every step of the buyer journey. A typical demand generation workflow will introduce a particular part of the product and service to the list of customers being targeted.
If the demand generation strategy is effective, it can lead to increased sales, better profits, and overall revenue. Because of its precision, it comes in handy when you’re looking to reduce your marketing overheads.
Now that we’ve given you the four-one-one on the entire demand marketing world, it’s time we show just how you can make your demand generation strategy work for you.
Five methods which increase demand generation
High Quality Content Marketing
There is a lot of content being posted on social media.
You see it all around you. Every website worth its salt is publishing content by the dozen.
But here’s the thing: not all of that is quality content.
The first step in a good demand generation strategy is to come up with a content marketing strategy. Yes, while the competition for organic ranking on search engines has increased a lot in the recent years, SEO has a habit of not dying out, even when critics say so. With Google’s updates, content relevancy, and quality are absolutely important and you need to be on top of that.
Whatever type of content you create, make sure that you don’t bog yourself down to simply written content.
There are plenty content types that you can use. From infographics, to video content, tutorials, and more, you should be on top of every content form there is.
But ideally, you should focus on written content that’s high quality and authoritative in nature. With it, you can rank higher, get more demand for your products and increase your bottom line in the long run.
When done on a regular basis, your content can help you gain a permanent competitive edge.
Industry Events and Authority Building
With the world slowly opening up after pandemics and lockdowns, it’s time to return to normalcy.
For companies looking to generate more demand for their products and services, industry events were a pre-pandemic paradise. With physical business events resuming, you can advertise your business in a physical setting.
The prime benefit of these events is that it lets you network with a wider variety of businesses. These businesses, coming from all walks of life, are there to build business relationships as well.
With both parties with the same goals talking about their respective projects and businesses, there’s bound to be a connection. What industry events you go to depends on your business.
You don’t necessarily have to go to the biggest event to do everything.
If you follow along with the first phase of the strategy, then you’re bound to be invited as a speaker to events since you’ll be an authority on the industry.
Utilize Marketing Automation
Why do everything yourself when there’s technology at your disposal?
In the modern digital landscape, you can use automation software for demand generation as well. Of course, the manual process of demand generation works wonders when done right.
However, if you’re dealing with a huge number of leads jumping on your store; sifting through them, qualifying them, and turning them over to the sales personnel does get a bit problematic.
Automation software like Sales Navigator, Drift, and Crystal help sift through the number of leads dropping on your store, and show them to you only when they’re properly qualified.
This helps the demand generation team save useful time in sifting through the traffic themselves.
Automation helps you gain important insights on the customers that you’ll want to target. This enables you to further segment your offerings to a select group of individuals.
Now, there is a perception among demand generation people that using this software, and others, is a must-have.
That’s not the case, even if it’s made out to be. With the correctly written copy and a marketing collateral focused on interest-building, you can get your word out to a variety of people manually.
Content works for a reason. It’s a great way to build authority related to your products and services. Besides the general content marketing, another thing you can try is content syndication; wherein you promote your content to get in on the right eyes. Here’s how you can do that:
- Reach out to influencers and thought leaders within your niche.
- Paid content marketing on social media.
- Distributing content organically on social media.
The first two of these three require an investment.
The reason we included the third step is because certain businesses don’t have an internal syndication team present.
Account Based Marketing
One of the most effective tools in improving the ROI through demand generation is account based marketing. It’s a powerful tool if you’re looking to get specific lead generation.
It’s a process through which you select the best accounts. These businesses and individuals would be the one’s getting the most amount of traffic and sales.
Once you’ve built the list of people you would be targeting, it’s time you go about selling your products directly to them.
Of course, you’ll need to be really creative with your marketing strategy to target these types of customers. You’ll have to have a creative marketing copy combined with conversion savvy collateral that helps entice them in building a partnership.
Now, this step is primarily for B2B customers and their outreach efforts. This might not be applicable if you’re running a B2C-facing business.
While these strategies might be effective in their own right, they differ from business to business. The final takeaway is that while these strategies might work for one business, they might necessarily work for another. A/B testing, therefore, is highly beneficial in this regard since it can let you test out a variety of different strategies with ease.