In the world of B2B marketing, generating demand is key to success.
But what exactly is “Demand Gen”? And how can it be leveraged to create successful marketing strategies?
In this blog post, we’ll dive into the basics of Demand Gen, including what it is, why it matters, and how it differs from other marketing tactics. Plus, learn how Demand Gen can be applied to your own B2B marketing efforts.
What is “Demand Gen”?
Demand Gen, short for Demand Generation, refers to the process of creating interest and demand for a product or service through marketing and sales initiatives.
In B2B marketing, the goal of Demand Gen is to create awareness and generate interest among potential buyers, which can then be nurtured into leads and eventually converted into customers.
Demand Gen often involves a variety of tactics, such as content marketing, email marketing, events, webinars, and advertising, with the ultimate goal of driving revenue and growth for a business. It’s important to note that Demand Gen is distinct from other marketing approaches, such as brand awareness or product education, as it focuses specifically on generating interest and demand among potential buyers.
Demand Gen Stats You Should Know
- 53% of B2B marketers say that their biggest challenge is generating leads. (Hubspot, 2021)
- B2B companies that blog generate 67% more leads per month than those that don’t. (DemandMetric)
- More than 70% of B2B buyers watch videos throughout their buying journey. (Google, 2018)
- 84% of B2B marketers use paid distribution channels to promote their content. (Content Marketing Institute, 2021)
- B2B marketers who use marketing automation to nurture prospects experience a 451% increase in qualified leads. (Annuitas)
How Does Demand Gen Apply to B2B Marketing?
Demand Gen is an essential part of B2B marketing, as it enables businesses to create a pipeline of potential customers that can be effectively targeted and nurtured.
Demand Gen tactics are typically used to generate awareness and interest among key decision-makers and stakeholders within target companies. By creating a well-planned Demand Gen strategy, B2B businesses can attract leads and build relationships with potential customers, which can eventually lead to sales and revenue growth.
Effective Demand Gen in B2B marketing requires a thorough understanding of target audiences and their pain points, as well as a multi-faceted approach to outreach and engagement, including channels like email marketing, content marketing, social media, and events.
Ultimately, Demand Gen is critical to the success of B2B marketing, enabling businesses to build a steady stream of high-quality leads that can be converted into loyal customers over time.
Examples of Demand Gen in Action
There are many different ways B2B businesses can generate demand – online and offline.
Here are a few examples of Demand Gen tactics that can be used in B2B marketing:
- Content marketing: Creating informative, high-quality content (such as blog posts, ebooks, webinars, and whitepapers) that provides value to potential customers and helps establish a business as a thought leader in its industry.
- Email marketing: Leveraging targeted email campaigns to reach potential customers and nurture them through the sales funnel with personalized messaging.
- Paid advertising: Running targeted paid ads (such as Google Ads or LinkedIn Ads) to reach potential customers and drive traffic to a website or landing page.
- Social media marketing: Using social media platforms (such as LinkedIn, Twitter, and Facebook) to share thought leadership content, engage with potential customers, and build brand awareness.
- Events: Hosting or attending industry events (such as conferences, trade shows, or webinars) to connect with potential customers and generate leads.
- Referral marketing: Encouraging satisfied customers to refer new business by offering incentives or rewards for successful referrals.
By combining several of these tactics into a cohesive Demand Gen strategy, B2B businesses can generate awareness and interest among potential customers, build a pipeline of high-quality leads, and ultimately drive revenue growth.
Tips for Building an Effective B2B Demand Gen Engine
Building an effective Demand Generation engine for your B2B business may not feel like the easiest of feats. After all, it’s hard to directly influence the influx of demand for your company.
That’s why we’re sharing a few tips for building this Demand Gen machine from the ground up.
Define your target audience and buyer personas
The first step to effective Demand Gen is understanding your target audience and creating detailed buyer personas. This includes identifying their pain points, preferences, and motivations, as well as their role in the decision-making process.
For example, a B2B SaaS company targeting IT departments might create buyer personas for the CTO, CIO, and IT Manager roles, and focus on the unique pain points and motivations of each.
Create high-quality content
High-quality content is the foundation of a successful Demand Gen strategy. This includes blog posts, ebooks, whitepapers, webinars, and other resources that provide value to your target audience. The goal is to create content that not only educates your potential customers, but also positions your business as a thought leader in your industry.
For example, a B2B marketing agency might create a comprehensive guide to inbound marketing that speaks directly to its target audience of small-to-medium sized businesses.
Leverage multi-channel outreach
Effective Demand Gen requires a multi-faceted approach to outreach and engagement. This includes leveraging channels like email marketing, social media, paid advertising, and events to reach potential customers and generate interest.
For example, a B2B financial services company might use LinkedIn ads to reach CFOs and other financial decision-makers, and follow up with personalized email campaigns and targeted event marketing.
Prioritize lead nurturing
Once you’ve generated interest among potential customers, it’s critical to prioritize lead nurturing to move them through the sales funnel. This includes leveraging marketing automation to deliver targeted, personalized messaging and content to your leads, as well as tracking their engagement and behavior to better understand their needs and preferences.
For example, a B2B software company might use marketing automation to send personalized follow-up emails to leads who download a free trial, providing them with relevant resources and support to encourage a purchase.
Measure and optimize
Finally, it’s important to constantly measure and optimize your Demand Gen engine to ensure it’s driving results. This includes tracking key metrics like website traffic, conversion rates, and revenue generated, as well as regularly testing and refining your approach based on data-driven insights.
For example, a B2B consulting firm might A/B test different email subject lines and content to see which generates the highest engagement and conversions, and use those insights to optimize their approach going forward.
Great Marketing Goes Beyond Demand Gen
At Elevate Demand, we know that effective B2B marketing goes far beyond Demand Gen. Not only do you want users to have a thirst for your business, but you need to bring them to water and make them drink! That’s where a scalable growth model comes in.
Learn more about Sustainable Demand and how we help B2B businesses ditch the cookie-cutter playbooks and achieve growth at scale. At Elevate, every Sustainable Demand Formula is built unique to each business – let’s create yours today.