Demand Generation Vs Lead Generation
Published on 25 April 2019
Business is great and you’ve got a well-established brand which is distinguished from other competitors. Your business has this product, we’ll call it - ‘Q’. Q promises to be this innovative product which every household can benefit from. Your sales team is lit. There’s lots of work to be done. How are they going to generate interest in the product, ‘Q’? Which customers can, will or could benefit from this new product? The answers will explain how demand and lead generation differ.
Demand generation and lead generation are often mistakenly used synonymously. However, they are two completely different processes. Demand generation is concerned with generating interest and consequent demand for a product or service. Lead generation deals with vital customer information from which leads can be generated. Simply put, demand generation creates the want for your product, whereas lead generation finds clients for your product.
B2B Lead Generation Tips
Lead Generation refers to the process of finding and following leads to increase customer base and increase sales. It forms a necessary aspect of any marketing campaign. Your business must have a targeted audience who is expected to benefit from the product or service offered. But what can you do to assist your lead generation team to find more leads? Here are a few tips you could consider to increase leads for your business.
Use ICP to Filter Leads
An Ideal Customer Profile (ICP) needs to be established so that you know who your target audience is. ICP refers to a detailed description of the ideal customer as well as the suggested benefits which such a customer can present to your business. This will also allow you to focus on how that ideal group could be converted into clients. Your selected B2B agency can assist in this process by executing the data search for your decided ICP. They could also assist by helping to develop a detailed ICP for your business with you.
Utilize Social Media Platforms
With the wealth of potential client information available on social media platforms such as Twitter, Facebook, and LinkedIn, potential clients aren’t in short supply. The wealth of clients available on these platform and nifty tools such as followerwonk can help you sort through the potential to lead to the actual. While you’re at it, comment on other blogs, respond to tweets which you find interesting or support your own views. This also helps to get your name out there and generates interest in what you have to offer.
Automate Aspects of Your Marketing
If you have a wealth of content available, automation might be one of the best options available. This can also be the responsibility of your B2B agency, to automate your content by creating drip campaigns. Or your social media platforms could also be automated to post your content at scheduled points on your behalf. The more information you put out there for your audience, the greater the interest in your products and services.
Consider E-mail Marketing
With the advent of the internet, the typically mailed letter has diminished in volume. The volume of mail is now mostly electronic and online. This e-mail marketing, however, is not as easy as it sounds. Yet with your selected B2B agency, you can decide on engaging and concise content and images for newsletters and emails. Remember to add your signature to the letters to promote authenticity.
B2B Demand Generation Strategies
Demand generation is a more thorough process which requires a much closer look at customer patterns and interests. Interest in the product is carefully nurtured to develop leads. Demand generation may prove daunting when left to your sales team to do it all from scratch. Thankfully, there are B2B strategies available to help you navigate the seas ahead.
Let’s consider a few demand generation strategies which may assist in generating a desire for your product or service. The importance of demand generation should not be overlooked as it serves as a bridge. A bridge connecting your product or service to the clients.
Team With Sales
Your sales team has the product and it is the duty of your selected B2B provider to propose strategies which can assist desires of increased revenue. That way the slack, which may arise once deliveries have been made, can be covered. Perhaps there are deals which didn’t work out. Although they may appear as dead leads, demand generation members can follow up to find solutions for future issues which may arise or to regain customers by resolving their issues.
Have The Necessary Equipment
In order to work efficiently, you need the appropriate tools to facilitate your progress. Ensure that you have a sales funnel and other technology to smoothly manage your customer and service relationship. Systems must be established to handle the traffic which will be sure to arise such as - customer service, marketing automation, content management, and customer relationship management. The necessary platforms must be put in place so that efficiency and customer satisfaction remains at a high ranking.
Know The Right People
Be aware of others within the industry you provide your service. Everyone didn’t just make it to the top by doing it all alone. Associate with noteworthy individuals of your industry at webinars. Foster relationships with others within your industry. This will bring experience, and provide opportunities to develop trust. Your hard work will surely pay off. Success at so-doing will surely boost brand-awareness, build vital relationships and foster prospects for the demand generation team.
If no one knows about your business or the product or service offered, failure shall be the inevitable result. Your prospective clients need to know about you and what you offer. Therefore you must ensure that you generate and publish content. What can you possibly use for content? With every business, there’s a unique story about why it got started, goals, accomplishments, product information and so much more. Audiences want to know about it all. How else are they going to know that you’re worth their time and interest? Plus their piqued interest will help your demand generation team zero in on captivating and maintaining their interest in your product or service.
Consider Lookalike Audiences
Have you ever played the game, ‘go fish’? The version where you want a specific card and if no one has it you have to go fish? Well… Once you are aware of the audiences who are responsive to what product or service you offer, seek them out. With numerous social media platforms out there, there is a large expanse of potential clients available to present demand generation opportunities. These are the audiences available on platforms such as Facebook, who share similar likes to your already established niche. Have a look.
Which B2B strategy did you find most helpful? We would love to hear how any of our mentioned tips or strategies were helpful in your selection of a suitable B2B agency.