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Marketing has a specific mission: to make customers loyal to your company and your products. But how can you achieve this? This is where demand generation comes in, a powerful strategy that helps companies position themselves in the market and on the radar of potential customers.
This will make your brand more visible, increase sales and attract new customers.
But what is demand generation all about? Here I'll tell you all about it, so you can get started soon and boost your business.
What is demand generation?
This is a marketing technique that seeks to create and increase your audience's interest in your service or product. The idea is that your potential customer associates their need with what the company has to offer.
It is not a single action, but a whole strategic process that positions your brand in search engines and relies on the opinions of satisfied customers to make your potential buyers aware that the ideal product exists, that you have it and that you are waiting for them.
What does my company gain from demand generation?
Beyond increasing revenue, by applying demand generation strategies you will achieve greater brand recognition within the market. You will also create and improve links with your audience, as there will be an interaction that will be the basis for increased trust.
This authority will be key for one simple reason: when users have a problem or a need to solve, you will be the first option they think of.
Demand generation is not so much about getting lots of people to come to you, but about finding your ideal customer and creating content according to their interests.
How to execute an effective demand generation strategy
If you are interested in applying demand generation in your company, I will tell you the general process that we apply in Innova Marketing Solutions to make it effective.
1. Define the objectives you want to achieve
Having well-defined objectives will help you choose the most effective procedure and get the most successful results. To do this, identify your version of the sales funnel based on the TOFU, MOFU and BOFU stages.
If you don't know how to do this, schedule a call with me and I will be happy to explain how to get the most out of this step, which will be key to the final result.
Create and study your buyer persona in detail.
Knowing that your buyer persona is the semi-fictional representation of your ideal customer, it is important that every step you take is focused on meeting their interests, needs and habits.
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After researching in detail and creating your buyer persona in the image and likeness of your ideal customer, this will be your basis for shaping your strategy. If your company is new, you can look at your competitors' ideal audience and then optimise the descriptions according to your real customers.
Clearly identify the customer journey
Study the customer journey that your ideal customer will go through until the sale is made.
Identify what are the problems, doubts and behaviours of your prospects in the attention, research, decision and action phases, and think about what solutions you can offer in each case.
Make your buying cycle smooth and simple, and adapt it to the journey your buyer prefers to take.
Plan your content marketing strategy (spoiler: this is key).
According to Hubspot, software companies pay more for each lead acquired, compared to other industries, due to the high competitiveness in the market. This is why planning your marketing efforts should be detailed and cautious if you want to optimise your budget.
In this case, content plays a crucial role. Make your audience feel that you are an authority in your industry by addressing topics that your customer would find valuable.
If you sell Point of Sale software, offer tips to increase retail sales, to increase shop productivity or to increase customer loyalty.
From this content, people will get to know your brand and evaluate your proposal, as this material gives them an idea of what it will be like to work with you.
Strategically choose your channels and automate
Which social network does your ideal customer use most? Which media does he use to stay informed? Does he prefer to read articles or listen to a podcast? Does he search on a PC or on his mobile phone? Identify which channels are the most frequented and create specific content for them.
Also research SEO techniques for each of the content formats you create, so you'll have a better chance of being found by your audience. Automate this whole process and let the magic happen.
Measure your results
To achieve an effective demand generation process you must study the results of each tactic used. Use one or more software to help you measure your results and refine your next steps.
46% of marketers prefer to invest in automation software as an inbound marketing strategy. So if you have an ally in this sense, the result could be even better.
This stage will make the difference between an effective process and a repetitive process that does not generate an optimal result and where you do not know exactly which stage and action to modify.
According to Hubspot, companies that did not analyse the results of their demand generation strategies were less likely to achieve their revenue goals.
The process may seem complex, but when you have expert partners on your side, you just need to prepare for the growth of your business. Click here to request a consultation with me.