Demand generation is often one of the biggest challenges a business faces when trying to stand out in a saturated market. With so many competitors, companies need to find ways to create more interest in their products and services if they want to boost sales. Therefore, it’s important to implement demand generation strategies that will increase awareness and build excitement.
In this article, we cover what demand generation is and how it’s different from lead generation. Plus, we’re sharing five demand generation tactics you can implement to boost interest in your business.
Key Takeaways:
- Demand generation is about generating buzz around your business in an effort to grow your audience and introduce people to your audience.
- It’s not the same as lead generation, which is more focused on nurturing relationships with people who have already shown interest in your business or offering.
- The best way to go about demand generation is to show up consistently by sharing high-quality, valuable content online.
What is Demand Generation?
Demand generation is essentially the practice of creating demand for the products and services your business offers. Any activity you implement on a regular basis to drive awareness and interest is considered a demand generation strategy. However, you obviously want to focus on the most effective strategies in order to get the most bang for your buck.
Unfortunately, demand generation is often confused with lead generation, but the two are different. Here are the main differences you need to know:
- Demand Generation: In the demand generation stage, you’re taking action to get your business in front of its target audience to generate buzz and drive traffic.
- Lead Generation: With lead generation, you’re nurturing your relationship with prospects who are already aware of and interested in your business. This is done with the intention of converting them into paying customers.
4 Demand Generation Strategies to Fuel Your Sales
Now that you have a clear understanding of what demand generation is, let’s talk about how it can be implemented to skyrocket sales for your business. Here are four demand generation strategies you can begin using right away to boost awareness, nurture relationships, and increase income:
1. Prioritize Content Creation
You can’t attract sales if people have no idea who you are. It’s important to get your name out there alongside your products and services. The best way to do that is to show up consistently and provide free content for your target audience to consume. This could be blog posts, YouTube videos, podcast episodes, or social media content. It all depends on what allows your strengths to shine and what formats are most appealing to your target audience.
So, why is giving away content for free the way to go? Well, your free content allows you to provide value to others. As you do this, it helps to establish the Know, Like, and Trust Factor. Through your content, people gain an understanding of who you are, begin to like you, and ultimately build a level of trust. They start to see you as an authority in your field, and you’ll become a go-to resource for them. It’s when people have reached that stage in your relationship that they’ll be more inclined to buy.
Source: Oberlo
Considering 92% of content marketers use blog posts as part of their marketing strategy, you’re missing out if you don’t jump on board. Just be sure to use search engine optimization (SEO) to generate more organic traffic from search engines like Google.
2. Take Advantage of Email Marketing
Email is a powerful way to nurture leads, which is why it’s one of the best demand generation strategies a business can implement. Once someone has given you their email address, you’re able to stay in touch with them long after they’ve left your website. Plus, it gives you the ability to grow your relationship with your subscribers over time as you connect with them where it matters most: their inbox.
However, many businesses fail to take full advantage of email marketing. They start an email list but fail to promote it or don’t offer an incentive to get people signed up. Or they build a list and don’t send out regular newsletters, so subscribers forget who they are. To ensure you get the most bang for your buck with your email strategy, create a freebie your target audience would want in exchange for handing over their email. Then, develop a welcome sequence for new subscribers so you can nurture those relationships at a time when a subscriber is most engaged and interested in your brand.
3. Run an Influencer Marketing Campaign
These days, influencers are all the rage in the online world. Brands are partnering with these creators as a way to boost traction and increase sales of their offerings. That’s because research has shown 61% of consumers trust recommendations from influencers they follow. And they trust them more than typical branded content shared by the business itself. But how do you develop an influencer marketing strategy?
Image: Shopify
The first step in creating your campaign is to choose an influencer who has an audience you’d like to target. Otherwise, you’ll wind up speaking to people who are never going to be interested in what you offer. From there, work with your chosen influencer to develop campaign content that makes the most sense for both parties. This way, everyone wins in the deal. The right influencer will send tons of traffic and potential buyers your way.
4. Invest in Social Media Advertising
While organic traffic is always desirable, sometimes you want to speed up the process. Instead of waiting for people to discover your business through a Google search, run social media ads to generate awareness. This amplifies your content to drive more traffic to your website or increase sign-ups for your email list.
When done right, social media ads are a great way to drive results at a faster pace. The key to making them effective is to run your ads on the platforms your audience is most active on. Also, don’t be afraid to tweak elements of your ad through A/B testing to see what resonates and produces the best results.
Generate More Leads With MXTR
Here at MXTR, we offer marketing automation, lead management, and an omnichannel messaging platform for organizations that have multiple locations. We’ve made it easier for you to immediately respond to leads so you can nurture relationships and boost conversions.
Interested in learning more? Schedule a demo today to see it in action.
Featured Image: istockphoto
