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Demand generation is a holistic approach to customer engagement that focuses on building long-term relationships with customers. The goal is to generate demand for your products and services and nurture personalised customer relationships throughout the entire customer journey until the deal is closed.
A demand generation programme includes many marketing and sales touch points mapped across a broad strategic timeline. For example, the journey may start with the customer reading a blog post and signing up for a newsletter, which leads to a follow-up call from the sales team, and ends with a customer experience survey and discount code for the next purchase.
To effectively create a long-term demand generation programme, there are four essential steps that will help you engage customers, drive conversion, and continuously improve your plan.
Marketing tactics drive customer leads to the sales team, so it’s important that these two teams work together to set and measure goals. Integrating collaboration and coordination tools, like shared data and dashboards, help sales and marketing work together efficiently and strategically to drive ROI.
Demand generation pros believe the biggest mistake you can make is not segmenting your target audiences in enough detail. The narrower the target, the easier it is to deliver a personalised experience that’s more likely to convert. Marketing experts recommend using customer data to create and refine audience segments early and often.
Once you know exactly who you’re targeting, you’re ready to start nurturing leads and orchestrating the customer journey. You’ll use your marketing tactics and data-informed strategies to create demand, deliver personalised experiences, qualify leads, nurture relationships, and onboard new customers.
As these customer journeys come to life, you’ll be collecting and using data to develop a 360-degree view of your customers. You’ll also be tracking and analysing the effectiveness of your marketing tactics in relation to conversion rates to better understand marketing attribution and make refinements to your marketing and sales strategies.
Demand generation programmes boost your efficiency in collaboration, segmentation, personalisation, lead generation, and conversion. When you have the essentials covered, it’s much easier for your teams to deliver ROI and happy customers.
The marketing tactics that make up demand generation will be different for every organisation based on size, goals, products, services, and customers. The one thing they have in common is their intent to build brand awareness and lead prospects into a journey through your conversion funnel.
Demand generation marketing may include:
Remember, demand generation is a long-term strategy to build prospect and customer relationships. These marketing tactics aren’t used as a quick hit. You may engage a prospect with a Facebook ad, follow up with a nurture stream of emails, qualify the lead, hand it off to sales, and answer customer questions along the way.
This is all part of a well-rounded demand generation journey that focuses on its commitment to the customer through every experience with the product or service.
Inbound marketing is a subset of the broader demand generation programme and works in tandem with sales strategies to build customer relationships and drive conversions.
When it comes to generating demand, inbound marketing tactics are great for showing prospects why and how your product or service can solve their problem. Keep in mind that inbound marketing is only one portion of your organisation’s comprehensive demand funnel.
How is demand generation different from lead generation? Demand generation is broader than lead generation and includes the entire marketing and relationship-building process that delivers qualified leads to your sales team.
Lead generation is a specialised segment of a demand generation programme and it’s essential for driving conversions. Lead generation tactics focus on capturing prospects’ contact information, so you can communicate with them along their customer journey.
Here’s an example. Demand generation gives prospects free content, like blog posts and videos, to build brand awareness and generate demand for your product or service. Lead generation tactics offer high-value gated content, like an e-book or report, in exchange for the prospect’s contact information.
Free content with no follow-up
High-value content with a contact form
Capturing customer information with lead generation tactics during the demand generation process helps you identify which prospects are likely to become customers and triggers actions to guide them into your sales pipeline.
You’ll increase your ability to engage customers if you use demand generation strategies and software to coordinate the efforts of your sales and marketing teams. This coordination enables them to drive higher conversion rates and bigger ROI.
Sometimes marketing and sales teams work in silos where marketing generates product demand and delivers leads to sales without circling back to measure results and make refinements. Using a demand generation strategy aligns the teams and gets buy-in on shared goals, as well as shared metrics.
Ideally, marketing and sales teams would collaborate to create data-driven strategies, plan campaigns, build relationships, drive conversions, analyse results, and make improvements for the next demand generation campaign. When the teams aren’t working towards the same goals and sharing information, there’s a chance of losing valuable leads.
Making data-informed decisions based on real results is key to increasing revenue with demand generation. Consistently analysing your demand generation channels gives you the opportunity to orchestrate the customer journey by:
What’s the easiest way to implement a demand generation programme? Find a demand generation software solution that streamlines sales and marketing applications on the same platform. The right demand generation solution can help your organisation:
Discover how your business can increase ROI with demand generation software—Dynamics 365 Marketing helps you generate demand, personalise customer experiences, orchestrate customer journeys, and convert high-quality leads all in one platform.