Not enough fans? Use more demand!

Need qualification? Use lead generation!

Catchy? Sure

Relevant? Extremely!

Now, my rhyme is just the tip of the iceberg when it comes to understanding these concepts, however, keep in mind the core outcome of each as you read through.

Today, customers are completely in charge of their buyer’s journey. Information required to make a purchasing decision is often available without having to speak to a sales rep.

What does this mean for you and your organisation? You need to make the information you send to prospects and customers deeply personalised and relevant.

At every stage of your buyer’s journey.

This is where demand and lead generation come in.

First analyse what website pages, blogs and resources have been most engaged with by existing customers. Did they involve a form or not? This is a good place to start.

In a nutshell…

  • Demand generation is the process of making audiences aware of your organisation and what you can offer
  • Lead generation is the process of turning the interest into an opt-in, and nurturing them towards becoming a customer

Now I know what you might be thinking…which one is better than the other or more important?

Well, asking which is more crucial is the same as asking whether the gearbox or tires are more important to a car.

They are both required to move you forward and get to your destination.

If you only pick and action one or the other strategy, then you are either.

Growing but not capitalising on engaged visitors who can become prospects (Missing out on leads)

OR

Trying to convert visitors and prospects still at the top of your funnel (burning marketing budget on conversions)

So, now that you’ve become acquainted with these concepts, let’s dig a little deeper to discover how to apply this to your organisation

Demand Generation

Demand generation achieves exactly that. Demand. This strategy includes people from their initial awareness of your brand, product or service, to becoming interested in how you can help.

To generate awareness is not enough, you need to establish credibility, authority and proof that you are an expert in what you do.

In doing this, you generate genuine demand. You need to create content that that captures your expertise, educates the audiences or informs them of your business.

The important thing to note here, is that this content is not gated. The content you create needs to be freely accessible to anyone and everyone, without asking for personal details.

Some ways to create demand include…

  • Blog posts around problem-specific keywords. (i.e., providing solutions to frequently asked questions)
  • Videos from your executive’s LinkedIn account to their network, demonstrating their expertise
  • Videos on YouTube around problem-specific keywords in which solutions are provided in video format
  • Offering free resources such as calculators or ungated webinars, that provide genuine value in the form of education
  • Easy to understand summaries of your product/s or services, and the key outcomes they provide

Providing your content touches on the key pain points of your prospects, you will be ready to turn that interest and demand into a tangible outcome.

The law of reciprocity states that the more value you offer your audience, the more inclined they will be to do something for your organisation in return.

Lead Generation

Nurturing is the name of this game & removing friction is the aim! If someone is interested in how you can help them, then it’s your job to translate this interest into a type of opt in.

Once opted in, it’s then your job to remove any other reservations the prospect has with the ultimate goal of turning them into a customer.

Simple right?

Well, not exactly.

To execute cost-effective and efficient lead generation campaigns, you need to do a couple of things.

Firstly, you need to make sure that you have been tracking the behaviours of your audiences across every demand initiative.

This is to begin building retargeting audiences across paid advertising channels.

Take a collection of demand centered social posts, previously launched paid advertising campaigns (offering access to ungated content) and website/app pages and screens.

From here, set up the pre-requisites for a person to meet, which will enrol them in an audience. It could be a combination of specific social engagements or page views.

Then determine the key topic, and offer relevant gated content (PDF, webinar, access to an event) which requires an information exchange.

Secondly, you need to retrospectively look at the journey of those who have opted in.

What I mean by this, is firstly, keep track of frequently visited demand resources across each topic.

Then, determine which ones those who opted in (from your paid lead generation campaigns) visited and what they opted in to.

From here, you can embed lead generation forms within those pages, of the same or similar lead generation resources.

This capitalises on those people who are ready to convert, without you having to spend money!

Conclusion

So, there you have it! if you are to take only one thing from this article, be it that you can’t have one without the other.

Use demand generation to get people interested in what you do and how you can help them, by demonstrating your expertise.

Use lead generation to capitalise on that interest with something tangible, such as an opt-in.

Together, they will remove friction at every stage of the buyer’s journey and will save your organisation time, money and resources in progressing your prospects along the buyer’s journey.