Demand Generation Marketing is a data-reliant, long-effort strategy looking to boost a brand’s awareness and drive interest in both the company and its services with the ultimate goal of long-term customer engagement.
While data informs the way in which demand marketing carries out, more exists to driving interest and awareness than simply analytics alone.
The goal of this approach to marketing is to create a predictable and consistent funnel to feed your business. This part is done via brand awareness. Basically by letting your customer know what you provide and educating them on what needs you can fill in their life – thus creating the demand.
Demand Generation Marketing funnels into lead nurturing, which can then lead to sales if played correctly. This generation comprises the content of its accompanying strategy and any events that may feed into that initial interest in the company.
It can also have more personable “lead nurturing” elements should people slide down the pipeline from the lead nurturing stage back into the demand generation part of the funnel. What exactly is the funnel though? How does it work and what does it do?
The funnel is a calculated idea of the way in which masses of people will go from one stage, “Impression” to a final stage, “Close.” This extrapolated over a logical and consistent population takes the shape of an upside-down triangle.
1: Impression – Unique Users
- 10000 people see an advertisement or it creates awareness of the brand.
2: Inquiry – Prospect
- 5,000 people interested in the prospect of your brand.
3: Outreach – Lead
- 1,000 people that are legitimate individuals capable of doing business.
4: Nurturing – Opportunity
- 300 people that are in the process of talking with a sales representative or account executive about making a deal.
5: Close – Closed Sale
- 50 people have gone through the full process and have closed a sale with the company.
While this is a relative oversimplification, it deals with the process and details how people will “fall off” the funnel at each stage of the marketing/sales process. With regards to the funnel I have just outlined above, the “Demand Marketing” aspect of it covers Stages 1 & 2 with some residual overhang into Stage 3.
With regards to outlining what Demand Marketing actually takes form, here are several examples:
- Internet Content: Informative Videos, Catchy Advertising – Visuals/Graphics, Copy & Video
- Public Relations: This can partially be achieved through internet content. But it is also good with public events addressing either the pathos aspects or taking on a particular need-based issue.
- Educational Content: This is often for the highly-targeted group for which you are reaching. Providing this value builds the long-term relationship Demand Marketing seeks to provide. Additionally, make it free.
Think about demand marketing as advertising and PR (basic awareness and hype generation) that is strongly informed by a highly educational and informative approach to the brand’s benefits. It is, for this reason, many advise demand marketing approaches to include some form of legitimate value for free.
This approach legitimizes the company’s ability to be an authority. Additionally, and more importantly, it is a proven benefit to the individual and their personal goal and mission.