Key Takeaways 📈 🔥
- Demand Generation: A Sales Funnel Supercharger: Demand generation strategies can significantly amplify your brand’s visibility, customer engagement, and revenue potential. The article emphasizes that companies with robust demand-generation programs witness a 30% increase in leads in their pipeline. By strategically implementing these programs, brands can consistently produce high-quality leads, driving long-term growth and profitability.
- The Essence of Demand Generation Marketing: Demand generation marketing is a holistic approach that creates a “demand” for a product or service. It’s not just about immediate sales but about fostering a long-term relationship with potential customers. This strategy requires the integration of various programs across paid, earned, shared, and owned media channels, also known as the PESO model. The approach varies based on company size, with smaller companies prioritizing audience acquisition, while enterprise-level companies can afford to focus on brand awareness activities.
- Data: The Cornerstone of Demand Gen Marketing: Data shapes demand generation activities. There are three primary sources of data: audience data derived from social media profiles, website analytics, and primary research. By harnessing these data sources, marketers can refine their strategies, ensuring they target the right audience with content that addresses their needs and challenges.
- The Power of Message Repetition: Consistency is key in branding. The article underscores the importance of message repetition, emphasizing that consumers must encounter a brand message multiple times before it truly resonates. This repetition ensures that the brand remains top-of-mind for consumers, fostering brand recall and loyalty. Retargeting through marketing automation platforms can further amplify this effect, ensuring the brand message reaches the audience multiple times across different channels.
- Influencers: An Untapped Demand Generation Tool: The article highlights a notable omission in the HubSpot report: the lack of mention of influencer marketing. Integrating influencers into demand-generation strategies can significantly amplify existing campaigns. An “always-on” influencer program, instead of campaign-specific ones, ensures consistent audience engagement. Collaborating with influencers on long-form content, such as blog posts or YouTube videos, can have lasting benefits, especially given the longevity of such content on search engines.
- Measuring the Impact of Demand Generation: A successful strategy is incomplete without a robust measurement framework. The article emphasizes mapping all marketing programs to the B2B sales funnel. This approach ensures that brands can effectively reach their target audience with content that converts at every stage of the buyer’s journey. From top-of-the-funnel awareness tactics to bottom-of-the-funnel lead generation, a comprehensive measurement approach ensures that brands can optimize their strategies for maximum impact.
Implementing a demand generation program can significantly increase your brand visibility, customer engagement, and revenue.
What Does The Data Say?
- 70% of marketers say their demand generation budgets will increase, with 34% saying spending will grow by over 20%
- 42% of marketers say internal alignment between marketing and sales is key to achieving demand generation goals
- 67% of B2B marketers say demand generation is their top priority
- Over 80% of marketers think their lead-generation initiatives are only somewhat or slightly effective
According to HubSpot’s State of Marketing Report, about 35% of marketers surveyed prioritize demand generation marketing in 2022. Other priorities include increasing customer satisfaction (22%), raising brand awareness (18%), closing more deals (14%), and increasing customer retention (8%).
Digital marketers must get smart about using data and analytics to target the right audience with purposeful content that helps solve business problems. Self-serving, shallow, and performing content won’t cut it anymore. The same HubSpot study also found that 62% of marketers worldwide struggle to implement successful marketing strategies, while 83% of companies report they don’t use data effectively. Go figure.
What is Demand Generation Marketing?
Demand generation marketing is a strategic approach that informs the goals and objectives of digital marketing programs and creates “demand” for a product or service. This long-term marketing strategy requires the integration of programs across paid, earned, shared, and owned media, also known as PESO.
Demand generation marketing is executed differently based on the size of the company and the types of products and services that companies offer. Typically, audience acquisition is the top priority in smaller companies and startups. This means that companies will do everything to get their products and services in front of audiences to collect their email address. This includes offering free trials, initial consultation or assessments, early access to a platform with limited features, and more.
Enterprise companies have the luxury of having much larger digital marketing budgets and can afford to execute brand awareness-focused marketing activities. This can include large media buys, sponsorships, events, and high-profile marketing activations.
Here are three things to consider when planning for your demand generation marketing:
Use Data to Inform Demand Gen Marketing Activities
There is a surplus of data available in the marketplace. And if you work for a large company, you probably have more data than you can handle. I prefer to use three primary sources of data.
- Audience data: In this case, I am not referring to audience data related to primary research. I am talking more about building audiences using social media profiles. This methodology will uncover many audience insights, like identifying their top social media preferences, the leading media outlets they read, and their attitudes about various topics and stories.
- Website Analytics: Besides Google Analytics, I use Google Search Console to re-optimize web pages based on my target keywords and landing pages. Because demand generation marketing is a long-term strategy, this approach will help ensure audiences get to the right landing pages when searching Google for various keywords and phrases.
- Primary Research: Similar to this HubSpot report, primary research helps identify more significant trends in audiences or the industry. For example, several research and social listening companies offer free access to reports and surveys. This is their approach to demand generation marketing. I recently wrote a post about Gen Z shopping habits, which I sourced from eMarketer.
Message Repetition Should Drive Demand Generation Strategy
Repetition in Brand Messaging is Key
How often have you hummed the tune, “Nationwide is on your side”? It’s a testament to the power of message repetition. Brands that consistently and repetitively target their audiences with specific brand messages engrain themselves in consumers’ minds. While brands with expansive digital marketing budgets might find this task easier, the principle remains essential.
Various studies over the years have highlighted a crucial insight: Consumers typically need to encounter a brand message between 3 to 5 times before it genuinely resonates with them. Given today’s consumer’s intricate and unpredictable journey, this repetition becomes even more vital.
Harnessing Retargeting for Effective Message Repetition
In the digital age, retargeting has emerged as a potent tool to ensure that a brand’s message reaches its audience multiple times. Marketing automation platforms enable brands to retarget potential customers, ensuring the brand message is consistently in front of them.
Platforms like Facebook, LinkedIn, and YouTube offer sophisticated retargeting options. By leveraging these platforms, brands can ensure their message is seen and remembered, leading to higher brand recall and conversions.
Integrate Influencers in Demand Generation Marketing
The HubSpot report’s intriguing aspect was its lack of mention of influencer marketing. This oversight is a significant disconnect, especially for marketers steering the helm of demand generation strategies. The question arises: Why was such a potent tool overlooked in the survey?
The Power of “Always-On” Influencer Programs
Integrating a brand influencer program into demand-gen marketing can significantly enhance and amplify existing campaigns in the dynamic marketing world. Rather than limiting influencer collaborations to specific campaigns, brands should adopt an “always-on” approach. This continuous engagement ensures that the brand remains at the forefront of consumers’ minds, fostering stronger connections and ensuring consistent brand messaging.
Content Collaboration: The Heart of Influencer Programs
A successful influencer program hinges on effective content collaboration. This collaboration can manifest in various forms, such as guest posts on the company’s blog, content on the influencer’s platform, or a series of YouTube videos. The emphasis should be on diversifying content mediums. While platforms like Instagram and TikTok offer valuable short-form video collaborations, the longevity and impact of long-form content, especially on platforms like YouTube, cannot be understated. Such content enjoys an extended shelf-life on search engines like Google, ensuring continued visibility and engagement.
Demand generation marketing isn’t a sprint; it’s a marathon. It demands a well-thought-out strategy, clear objectives, and multiple integration points. By weaving influencers into the fabric of lead generation programs, brands can ensure a steady influx of high-quality leads. Influencers, with their authentic connections and engaged audiences, can act as catalysts, driving lead-generation efforts to new heights.
The Blueprint for Measuring Demand Generation Marketing
A common pitfall in B2B demand generation strategies is the tunnel vision focus on either top-of-the-funnel marketing tactics or bottom-of-the-funnel lead generation. A truly effective strategy embraces the entire sales funnel, deploying specific marketing tactics tailored for each phase.
|– Systematic planning, execution, and measurement of marketing initiatives.
– Identifying target audiences, developing buyer personas, and defining the buyer’s journey.
– Goal: Generate interest and engagement via targeted and personalized campaigns.
|1. Identify target audience and buyer personas.
2. Map out the buyer’s journey.
3. Develop tailored demand generation campaigns (via email, social media, content marketing, etc.)
4. Implement marketing automation and CRM.
5. Continuously optimize campaigns via testing and analysis.
|Metrics to Measure Success
|– Number of Marketing Qualified Leads (MQLs)
– Lead conversion rates
– Cost Per Lead (CPL)
– Sales velocity/pipeline growth
– Return on Investment (ROI)
– Content engagement
– Social media engagement
|– A structured demand generation framework is crucial for generating qualified leads and revenue.
– Tailor campaigns and content to target audiences.
– Track and optimize performance using various metrics.
– Utilize marketing automation and CRM across the entire funnel.
– Allow sufficient time for campaign assessment.
Holistic Measurement: The Cornerstone of B2B Demand Generation
A robust B2B demand generation strategy necessitates a comprehensive measurement approach. This approach should encapsulate all marketing endeavors, from public relations and content marketing to social media, events, and customer marketing. While top-of-the-funnel metrics that foster awareness and interest are pivotal, they should be balanced with metrics that track quality leads and sales conversions.
Mapping to the B2B Sales Funnel: A Best Practice
The gold standard for gauging demand generation’s efficacy is aligning all marketing programs with the B2B sales funnel. This alignment ensures that brands effectively engage their target audience with content that resonates and drives conversions. Let’s dive into what this alignment might entail:
Awareness Phase: Casting the Net Wide
The initial phase of the sales funnel, the awareness phase, is about generating demand and capturing attention. Investing in advertising through traditional banner ads or laser-focused paid social media campaigns is paramount. Paid search emerges as another potent channel, offering thought leadership and lead generation opportunities. For B2B entities, the significance of industry events cannot be overstated. These events serve as platforms for networking, brand visibility, and lead generation.
Content Marketing: The Pulse of Demand Generation
Regardless of the campaign’s primary objective, measuring the impact of content marketing tactics is non-negotiable. With its vast reach, social media can engage potential buyers throughout their journey. The content’s nature might evolve, but its importance remains constant. For instance, content like customer stories, case studies, and blog posts addressing customer pain points during the consideration phase can drive demand.
Consideration and Purchase Phase: Nurturing and Conversion
When potential customers reach the consideration and purchase phases, they understand a business’s offerings fairly. This familiarity paves the way for marketing automation, allowing for precise retargeting efforts. Monitoring conversion rates becomes paramount in these phases, as they directly impact revenue. Leveraging tools and strategies that nurture leads and drive them toward conversion is the key to maximizing ROI.
Maximizing Brand Health with Demand Generation Marketing Strategies
Demand generation marketing is crucial in maintaining and improving your brand’s health. By creating awareness and interest in your products or services, you actively drive potential customers into your sales funnel, nurturing them from the beginning of their buyer’s journey.
Demand generation contributes to brand health by establishing your business as an authority in your industry. By sharing valuable content, insights, and expertise, you position yourself as a thought leader, creating trust and credibility among your target audience. This expertise attracts potential customers and helps retain existing ones, fostering long-term loyalty and advocacy.
You can better comprehend their needs, preferences, and challenges by monitoring and examining lead behavior throughout the buyer’s journey. This information enables you to improve your messaging, targeting, and marketing tactics, resulting in a more impactful and streamlined approach to engaging your audience.
Acknowledging that some critics contend that demand generation marketing can require substantial resources and might not deliver immediate outcomes is crucial. However, when carried out strategically and skillfully, demand generation can foster long-term, enduring growth for your brand, surpassing any initial investment.
Video Summary of Demand Gen Marketing
Public relations and social media should always be included in demand gen campaigns. The great thing about public relations is that it can generate excellent visibility for any business or brand. While most public relations campaigns focus on top-of-the-funnel activities, sales and marketing teams can leverage marketing automation to reel the target audience into their digital ecosystem. Additionally, good PR builds brand equity over the long term.
Demand gen marketing is a strategic approach to building and nurturing valuable relationships with potential customers. Lead gen typically refers to generating qualified leads or emails passed on to the sales organization. Every lead should not necessarily turn into a sale, but every sale starts as a lead. Both tactics can produce quality leads.
Cloudtask said the average cost per lead in 2019 was $198. These numbers will differ based on industry, company size, target buyer, and competitive set. For example, in the same report, the cost per lead in the technology sector is $208, and the cost per lead in education is $5. Other expenses to be factored in should include agency fees, content generation, technology investment, etc.
A demand gen marketing strategy requires a combination of paid and organic efforts. A good list of KPIs should include web traffic, website conversions, social media followings, qualified lead generation (email addresses), the average cost per lead, etc.