Want to rev up your sales engine and drive demand for your business? Look no further. We’re diving into the world of B2B demand generation covering the basics, best tactics, and how to measure success. So, buckle up and get ready to take your marketing game to the next level.
The basics: What is demand generation and how does it work?
Demand generation is what it sounds like – creating demand. Unlike lead generation, which focuses on turning brand-aware individuals into actual sales leads, demand generation is focused on creating broad awareness and interest in your product or service, leading to increased demand for your business in a more roundabout way. It is typically geared toward top-of-the-funnel sales prospects - people who aren't familiar with your business at all. Let’s discuss important features of demand generation.
Key characteristics of demand generation:
Broad-based: It creates broad awareness and interest in your product or service, targeting masses rather than specific individuals or businesses.
Long-term: It aims to build a long-term relationship with your audience.
Comprehensive: It takes a holistic approach to marketing, encompassing multiple channels and tactics to reach your target audience.
Top 6 examples of B2B demand generation
Demand generation can be performed through a variety of channels. We’ve compiled a list of 6 B2B demand generation tactics that can help get you inspired.
Content marketing: Developing and distributing valuable, relevant content consistently to attract and retain a clearly defined target audience, and ultimately drive profitable customer action.
Search engine optimization (SEO): Improving the visibility of your website in search engine results pages (SERPs) through optimization of technical and content elements. The goal is to increase the quantity and quality of organic traffic to your site.
Subject matter expertise: Showcasing your expertise to position your business as a trusted resource and thought leader in your industry. This can help build brand awareness and attract potential customers who are looking for solutions to their business problems.
Event marketing: Joining relevant industry trade shows and hosting events to generate leads, build brand awareness, and strengthen relationships with existing customers.
Social media marketing: Leveraging social media platforms such as LinkedIn, Twitter, and Facebook, to build brand awareness, engage with target audiences, and drive traffic to your website.
Paid ads: Utilizing a paid advertising platform to reach a large audience of potential customers and drive targeted traffic to your website.
Demand generation KPIs
Now you have a few B2B demand tactics under your belt – great! But before you put any marketing plans in motion, you need to define the key performance indicators (KPIs) you’ll use to track your success. Here are 5 metrics that can help determine whether you’ve got a winning demand generation campaign.
Website traffic: Total number of visitors to your website.
Lead volume: Total number of leads generated through a particular campaign or channel.
Conversion rate: Percentage of visitors who take a desired action, such as filling out a form or making a purchase.
Customer acquisition cost (CAC): Cost of acquiring each new customer, including marketing, sales, and customer success expenses.
Customer lifetime value (LTV): Net profit a customer is expected to generate over their lifetime.
And there you have it. B2B demand generation is a crucial component of any successful marketing strategy. By utilizing the tactics listed above, your business can create awareness and interest in its products and services, leading to increased demand and sales opportunities.
Wheels Up Collective provides all the tools and resources necessary to excel in your demand generation efforts. Let us help you achieve your marketing goals.