Developing a demand generation strategy is complex, requiring marketers to work with a variety of tactics to create need for a product or service. Developing a successful demand generation strategy employs technical, relationship, design and marketing capabilities to build a customer centric strategy.
As Michael Brenner puts it, demand generation strategies are as complex as a “7,000-piece jigsaw puzzle.” From content creation, to lead generation and nurture, the strategy has to be cohesive throughout the buyer journey. Marketers who have a handle on developing a good demand generation strategy are able to increase conversions with their content, raise brand awareness, and decrease sales cycle time.
A demand generation strategy is a process where companies focus on content creation to generate a need for your company’s brand, and or products/services. Central to this is the focus on reaching and creating a new customer base for your B2B company to expand its current target audience, resulting in increasing the pool from which you can gain more sales.
Developing a strategy is gained from a set of tactics that all work together to create a cohesive process. To illustrate, one of the foundations of this process is creating quality educational content, which is considered the gateway to the buyer journey your prospects will follow. However, there should be a wide variety of content to adapt to different buyer roles in different stages of the buying cycle.
But just producing quality content is not enough. Content needs to be accessible for clients and prospects so that the content can be consumed by your intended targets. Strategies like SEO can be a great ally in this.
B2B companies have to effectively manage lead sources, which means employing solutions that automate top-of-funnel efforts to help marketers develop a strategy. This then goes down to ensuring the quality of leads and nurturing the leads that have the highest propensity to buy. And where buying is concerned, marketing and sales have to see eye to eye and work as an integrated team for both their efforts to be a success.
Many B2B companies see the value of this strategy, those who are able to guide their audience through the buyer journey will increase the number of sales-ready leads by 50% even as the cost of procuring them decreases by 33%. This means that employing an effective demand strategy with both the marketing and sales team on board will help B2B companies increase their top line while decreasing their bottom line.
The statistics also point to an important theme in the whole buyer journey: the increase in leads that are sales-ready indicate that demand generation strategies improve the quality of leads the company is receiving as less resources are mobilized to reach the right target audience from the very top of the sales funnel.
Creating a roster of highly qualified leads is one of the main priority’s marketers have as they improve the whole buyer journey helping marketing and sales reach their end goal of increased revenue growth. This is extremely important as B2B leads can cost anywhere from $31 in the tech industry to $60 in the healthcare industry, per lead. This should lead marketers to improve data segmentation and ROI measurability when talking about improving lead quality.
Most Effective Tactics for Generating Leads
Lead generation strategies are varied and should be used with the right people at the right point in their buyer journey for these efforts to be achieved. Marketers should be able to use a number of tactics from different platforms including video marketing, SEO, event/demo registration, and social media. Each of these platforms create more opportunities for marketers to be seen by their intended audience, allowing for potential customers to be better informed about the brand.
One of the most used platforms is e-mail marketing. With 40% of marketers in agreement that this tactic is crucial to their content marketing success, it has become a popular tool for marketers who want to reach clients who show interest.
But the whole process of generating qualified leads doesn’t stop with getting audience attention. Nurturing these leads is a natural consequence as their experience can make or break their decision to purchase from your company. Nurturing your lead through different tactics can increase sales opportunities.
It is important to note that nurturing leads almost always require information, which can only be conveyed with proper, quality content distributed to the right person at the right point in the buyer journey. This means that employing different tactics is important.
As an example, a customer could begin searching for a solution through Google search, in this case, marketers must be savvy with SEO. Finding your site should give them more information on why your solution is right for them. This can be done with a blog. Should your audience require more information, videos and subscribing to the companies mailing list could be your prospects next step. Finding you on social media will help reinforce your brand into their memory, and so on until your prospect becomes a buyer who makes their first purchase.
Strategies to Create Demand
Strategies to create demand involve a host of moving parts as stated earlier. However, such complexity doesn’t mean that your company has to nurture expertise in every field. It is important to know your resources, strengths and weaknesses to know what you can do in-house and what you need to outsource to professionals
Demand generation strategy is a complete solution to help B2B companies guide potential customers through the buyer journey to reach the ultimate goal of a sale. Well-crafted strategies are able to increase the number of sales-ready leads by 50% by relaying effective content to the right people at the right time.
To keep your brand and product awareness top-of-mind, there needs to be a consistent flow of content reaching your desired technology buyer personas. Working with a demand generation content provider who understands your market, can give you the competitive edge you need to maintain a highly successful content strategy. Contact us today to get started with PureContent.