How to generate demand for your product or service

Libby Margo in Lead management on 15th of May 2019
Multi-channel demand generation strategies

Multi-channel demand generation strategies

Demand generation involves creating a desire for your product or service. It begins with convincing your prospects they have a problem that needs fixing, then presenting your business as the solution to the problem. It’s also important to note that the desire doesn't have to be the desire to buy. It can also include the desire to:

  • Find out more about your product or service by browsing your website
  • Engage with a brand on social media
  • Commence a free trial for your product
  • Sign up for an email newsletter to stay informed about product updates

Isn’t demand generation the same as lead generation?

Not quite. While there are similarities between the two, they’re not exactly the same. Lead generation involves getting a curious prospect to trade their personal information such as their email address in exchange for something from your business, for example, a free eBook or weekly newsletter.

In contrast, demand generation doesn’t always involve capturing that prospect’s information. Essentially, all lead generation is demand generation. You cannot generate a lead without demand. However, not all demand generation is lead generation. Sometimes prospects will visit your website purely because they are driven by this “demand” — and they didn’t have to hand over their email address to you, either.

Examples of demand generation strategies

Effective demand generation is accomplished through authentic and thoughtful marketing across paid and organic channels. Here are 3 great examples of demand generation strategies:

Invest in SEO

According to Think With Google, 90% of B2B online customers use search specifically to research purchases — that makes search a very appealing channel to advertise your product on.

If you haven’t built up the domain authority to appear on the first page, where more than 90% of organic clicks happen (Marketing Land), then pay-per-click ads will help your business get to the top of search engine results. Once you get your SEO machine up and running, you’ll see results over time. Take Autopilot, for example. Years ago, we relied on PPC advertising to ensure that our website would not get pushed below the fold by an organic Wikipedia page about airplanes.

Today, we are thrilled to see that our SEO efforts have paid off: we’re ranked number 1 on organic.

Get started on your search marketing journey by reading our tips on how to use SEO to increase conversion rates in addition to our article on SEO trends for 2019. And if you want to get more advanced, consider looking into topics such as local SEO and voice search SEO.

Think about ad retargeting

No one likes an ad that follows them around the Internet. That’s why retargeting is a creepy and ineffective strategy that should be avoided at all costs, right?

Not quite, according to 91% of search experts (Search Engine Journal). They argue that serving ads related to pages that your prospects have visited is actually very effective. In fact, retargeting can lead to conversion rates that actually increase the more a retargeting ad is displayed to an Internet user.

If you’d like to give retargeting a try, we recommend taking advantage of Facebook custom audiences to target your website visitors on the world’s biggest social media platform. And by using the Autopilot-Facebook integration, you can create journeys that will allow you to do more with Facebook Custom Audiences such as nurturing newsletter subscribers who aren’t yet customers.

Entice your prospects with strategic lead magnets

Everyone loves free stuff. Therefore, it makes sense for free content to be the cornerstone of any successful inbound marketing strategy.

Strategic lead magnets have the potential to generate demand for your product and service by offering a valuable resource in exchange for personal information. And just like a magnet, they are great at drawing potential customers to your brand. The secret to this strategy’s success is to create an offer your target audience wants so badly that they’re willing to hand over their name and email address to access it. Here are some great examples of lead magnets:

  • Ebooks
  • Cheat sheets
  • On-demand videos
  • Swag

It’s also important to consider where these lead magnets sit in relation to the buyer journey. At the top of the funnel, light content such as cheat sheets can work to drive awareness of your product. And at the bottom, free trials and demos showcase how your product’s features can improve your prospect’s lives.

Don’t forget to keep nurturing your leads

The worst thing you can do to people who have expressed interest in your offer is to forget about them. As a result, they’ll probably forget about you too. Yes, demand for your product can be lost if you don’t carefully nurture your leads. So once you’ve mapped out your demand generation strategy, be sure to pay just as much attention to your lead nurturing strategy which may involve email marketing, social media engagement, and phone call follow-ups from sales.

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