Did you know that most of your website visitors are not prepared to buy your product? You have to win their trust and make your product or service stand out to move them further along your marketing – something that nurturing can help achieve.
As business owners, we often prioritize getting more traffic to our website, but we don’t realize that it’s only half the battle won. What we need is a strong strategy that can help establish a loyal customer base and grow our business. This is where demand generation and marketing automation comes in handy.
Keep reading as we discuss both the concepts in more detail, along with how demand generation differs from lead generation and how you can use marketing automation to enhance your demand generation efforts.
What is demand generation?
Demand generation is the process of instilling a desire in your target audience to learn more about your product or service. It starts by creating awareness about a specific pain point of your target audience and then presenting your offer as the perfect solution.
Your primary goal here is to make your target customers more inclined towards what you have to offer, so they take actionable steps. Some of these include:
- Visit your website to learn more about your product or service
- Follow your company on various social media platforms like Instagram, Facebook, or Twitter
- Signup for receiving welcome emails to receive more information about your brand and products
- Sign up for a free demo or trial of your product or service
As you can see, each one of the above steps can help you capture their contact information, allowing you to send the leads more details about your products later. Doing this can be the first step to creating a stellar brand reputation and move them further along the buyer’s journey.
Demand generation essentials
If you review the goals of demand generation, you’ll realize there are certain essentials you need to generate demand.
The first essential is a good website. Most businesses understand the importance of having a site that is both responsive and up-to-date with current trends, as a whopping 73% of companies have stated that they plan to have their website evaluated and re-designed in the next twelve months.
Your site should be consistent, have plenty of white space between elements, contain images and videos, and have fast loading times. To make sure that your site follows these rules, you can also enlist the services of experienced UX designers who are well-versed in the best practices of web design.
The next thing you need is having profiles on popular social media channels and building an email list for staying in touch with your current and prospective customers. Of course, there are other tools that can enhance your efforts, but these two are the absolute essentials.
How does demand generation differ from each generation?
Many people get confused between demand generation and lead generation, and we don’t really blame them since they do share similar traits. But the main difference between the two terms is the specific tactics and objectives behind each method.
Since we’ve already discussed demand generation, let’s talk about lead generation.
What is lead generation?
Lead generation, also known as lead gen, is the process of converting prospective customers into qualified leads. These are people with a genuine interest in what you have to offer. It can help you get qualified leads for your product or service that can be added to a lead nurturing process or pursued by your salespeople.
Typically, it involves creating “gated“ content to capture customers’ contact information. For instance, you can offer product demos, PDFs, e-books, white papers, and so on, in exchange for which somebody will give you their email.
Demand generation vs. Lead generation
Let’s consider an example to understand the difference between demand generation and lead generation.
Suppose you start a weekly YouTube series as a part of your marketing strategy. You take care to focus the series on your ideal customer’s pain points and then provide them with relevant content that can help them solve the same. You also design the series in a manner that showcases your expertise on a specific topic, getting your viewers to trust you and become attracted to your brand.
Additionally, you can put additional resources, such as guides, articles, and e-books – each of which gives the viewer more reason to visit your website to learn more about your product or service.
These steps will make your efforts to build a trusting relationship with your customer more likely to succeed. Now, if you notice, you still haven’t asked the visitor for contact information.
Instead, you are driving them towards your website by including calls to action through gated content. Once you have their trust, you can ask for the contact information later and call them a qualified lead.
So this is how lead generation complements demand generation. The tactics to create new opportunities and increase brand recognition are different, but the objective is the same – to get more leads for growing your brand.
How marketing automation can help the success of demand generation?
The main reason why marketers use automation tools is to enhance their account-based marketing operations. Plus, experts have found that demand generation automation can boost customer engagement drastically. This is in addition to increasing demand generation possibilities and encouraging timely communication.
The following are other ways in which both techniques can be used for better results:
Content engagement tracking
Marketing automation has made analyzing and tracking content engagement among prospective customers more secure and easier. Moreover, you can get key insights into the type of content that creates maximum engagement.
For instance, it was found that videos have a 70% higher chance of converting leads to buyers than other content forms. We wouldn’t have known this important piece of information without content engagement tracking.
Moving leads down the sales funnel is a very challenging task. But it can also be demotivating when all the tireless work ends with leads not converting into paying customers. This is often due to the lack of a thorough understanding of the customer’s journey or the required sales enablement materials on the marketer’s part.
Using marketing automation can be helpful here. You see, you get the opportunity to remain in your lead’s vision when you share educated content that makes you appear as a thought leader while simultaneously boosting your online presence. Several of the most popular email marketing services such as Constant Contact or Mailchimp actually come with automation software installed that you can use not only to track but also manage early-stage prospects, and of course, for supplying crucial information to your marketing team.
The marketing landscape is currently seeing a rise in chatbot technology, which provides customers with 24/7 assistance. Further, customers are also assured of more personalized experiences, which keeps them satisfied because of prompt and precise assistance whenever they visit your website.
Demand generation marketers are nearly always working with data. As a result, human-made errors are a big possibility where crucial bits of information might be missed. Lack of analysis skills is another problem.
Using predictive analytics tools can help you carry out advanced statistical data processes, which, in turn, can be combined with machine learning to produce valid analytical insights. Plus, you can also solve obstacles to data analysis and assimilation.
One of the biggest advantages of marketing automation has to be how marketers can use tools to make their efforts more personalized.
Most marketing automation tools utilize AI to skim through technographic, firmographic, and demographic data. This can then be used for highlighting vital data points that help provide tailor-made marketing experiences to prospects.
Considering how you can develop a desire in your target audience to learn more about your product and brand, demand generation is a crucial practice to help grow your business. It’s useful from the customer’s viewpoint too since it makes them aware of their pain points while providing useful solutions as well.
On the other hand, marketing automation allows you to strategize demand generation and analyze results that can help you save plenty of time when engaging with prospects as well as improve strategy.
Hence, employing marketing automation for generating demand is definitely an excellent tactic to scale your business.