B2B Demand Generation –
Our #1 Supercharged Growth Strategy For 2022
What is Demand Generation?
A true demand generation strategy accounts for every touchpoint in the buyer’s journey — all the way from anonymous visitor to delighted customer. It leverages data in decision making to align your marketing and sales teams, track marketing’s contribution to revenue and, most importantly, drive growth for your organization.
Demand Generation vs. Lead Generation (What’s the Difference)?
While demand generation and lead generation would seem like interchangeable strategies, their exist not so subtle differences.
Demand generation focuses on brand awareness and product education at the top of the funnel, where lead generation is micro view of the overall demand generation strategy at the stages of the B2B buyer journey focused solely on converting prospects into qualified leads, that can be nurtured into becoming customers.
While lead generation depends on your demand generation activities to create and educate the pool of prospects, think of lead generation as the conversion based tactics and strategies that convert now prospects to leads, and leads to customers.
That process relies on good segmentation, data analysis, and alignment between content, sales, and customer teams to create resources and offers that will lead to conversion.
Demand Generation vs. Inbound/Outbound Marketing (What’s the Difference)?
Many believe the misconception that demand generation and inbound marketing are one in the same. But they’re not. Demand generation is a function; you want to generate demand for your product or service. Meanwhile, inbound marketing is the method by which you can carry out that function. If you believe in educating your customer base and guiding them through the funnel with valuable content and offers, inbound marketing can help you do that.
Inbound marketing is a method or approach that can be taken when executing a demand generation strategy. Unlike traditional outbound methods of marketing, where salespeople reach out to prospects, the inbound method focuses on providing relevant, educational content (see: LinkedIn Relationship Building 101) to prospects to nurture them through the stages of their buyer’s journey: awareness, consideration and decision.
During the awareness stage of the buyer’s journey, our goal as marketers is to make people aware that they have a problem. Once our prospects are aware of a problem and come to the realization they need to fix it, they move into the consideration stage. In this stage, our prospects are actively searching for ways to solve their problem and our job is to provide them with possible solutions. Once all of the solutions have been laid out for the prospect, it’s time to make a decision.
This is where we marketers help our prospect decide what is the best solution for their specific business. How do we accomplish these goals and guide our prospects to their solution? Inbound focuses heavily on providing value before extracting it. Value could be in the form of revenue, efficiency, productivity or the alleviation of any pain point a specific prospect faces. Inbound is all about focusing your efforts on creating the right content, for the right person and providing it at the right time.
Image Credit: Drift
Our #1 Favorite B2B Demand Generation Tactic For 2022
Our favorite method of demand generation is account based marketing (ABM).
The ABM approach to demand generation flips a traditional marketing approach on its head. With traditional marketing, the goal is to attract people to your website, nurture them with automated emails and then identify target companies. When leveraging an ABM approach, the first initiative is to identify target companies, then engage them with personalized campaigns, and finally create lasting relationships with them.
You might be thinking, “This approach sounds fairly similar to inbound marketing!” The difference between ABM and inbound marketing is that ABM targets leads that are a high fit but may not have expressed interest yet.
At B2B Insiders, we take this a step further, adding an emphasis on identifying the exact touch points throughout our AMB strategy that can be hyper-personalized specific to the individual decision maker and the account being targeted.
An example would be sending an email to someone with their logo on it, then seeing a re-targeting ad with their logo on it, then a LinkedIn message using the same logo and even their first name. And that’s just for starters.