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Role Of Demand Generation And Lead Generation For B2B Marketing

Role Of Lead Generation and DEmand Generation For B2B Marketing | SLN-Solutions

“Over time, it’s becoming more and more understood by people that we’re acting in their interests. And that’s a very, very powerful thing for our brand.”              

                                                                                                                            

In a marketing world, we use many words interchangeably without a clear establishment of their differences. With so many changing strategies and jargon, it is easy to observe why some words get mixed up. It is one of the most common challenges in B2B marketing. The best example of this is demand generation and lead generation.

Both look the same, sound same, and have the same function to assist your business in gaining new consumers. But some vital differences exist between the two terms. Lead generation mainly fuels the sales funnel, while demand generation starts even earlier in the buyer journey.

Demand generation and lead generation are important in generating a b2b digital marketing strategy. They efficiently back each other. How can you generate leads when you lack demand for your services or products. Once you have successfully generated demand, you can convert that interest into leads so that your sales teams can take action.

The difference between lead generation and demand generation is quite confusing as both have the same traits. But their goals and definite tactics are different. When you have a proper understanding of both terms, it assists you in creating efficient marketing plans.

Let’s understand both the terms in a better way.

Demand generation

Demand Generation | SLN-Solutions

Demand generation is generating awareness or demand for your products and services. In simple terms, it keeps an aim to attract a new audience for your website for introducing to your company. The outcome is building your target audience, establishing trust, and sparking interest in your company.

Different kinds of demand generation content are:

  • Blogs
  • Articles
  • Infographics
  • YouTube videos
  • Resource page
  • Press release
  • Slide share
  • Social media post
  • Case studies
  • Free tools
  • Podcasts
  • Interviews

All of these contents are offered free to attract new consumers. Here, audiences will not have to provide their email or other contacts to access the content.

Let’s look at the statistics below:
In a survey by Demand Gen Report, improving the ability to measure and analyze marketing impact remains a key priority for 61% of B2B organizations.

Various Demand Generation Ideas

B2B prospects, similar to B2C prospects, tend to obtain information and mingle on various platforms. Therefore, all your efforts for demand generation mustn’t be limited to only one or two channels. Constructing a strong mix of channels makes sure that what your potential customer requires will gravitate, you will be observed.

 To start with, here are a few demand generation ideas:

  • Generate SEO-friendly content: One of the best ways to generate awareness is by creating content that your potential customers are searching for. There are several ways to recognize the relevant keywords. Like for instance, you can look at the Google search engine. All you have to do is give the keyword in Google and then scroll down to the bottom. Here you will get a long list of keywords that most people search for.
  • Guest post: Guest posting is a procedure of generating a blog post for another relevant blog in your industry. This is one of the best ways to get a hold of your target audience.
  • Generate industry proficient round-ups: It is a blog post where you collect quotes from the experts of your industry on any specific topic which your audience will surely enjoy. This kind of content is often shared very well. In addition, contributors will also share the whole blog post in their social network when it gets published. One of the best ways of finding experts in your industry is by searching in Google and looking for people who have already done a posting.
  • Advertisement on industrial blogs: Display Advertisements, sponsored posts, or buying a sponsored email slot from any industrial blog where your potential audience visits are one of the best ways. You can avail the benefit of a website having big viewership than yours.
  • Viral contest: You can generate a viral contest by crafting a contest where you will allow participants to earn more entries by directing new people to the contest, sharing on social or commenting on any post. This enhances the likelihood that content gets shared, thereby enhancing awareness.

 Lead Generation

Lead Generation | SLN-Solutions

Lead generation is a practice of converting important customers into qualified leads. In simple terms, it is a way to service down the roadway of purchasing. The final result is finding qualified leads for your company to be added to the whole process of lead nurturing, or a salesperson can easily follow up. Lead generation mainly involves generating gated content and then asking for somebody’s contact information to obtain that piece of content.

Kinds of lead generation include:

  • Gated content
  • Course
  • Free trials
  • Product demonstration
  • Viral contests
  • Email subscriptions
  • Events

To access the content, the concerned person has to give email or any other contact information that the company needs. Let’s look at the statistics below:

80% of B2B marketers use lead automation software to generate more and more leads.

Marketing Automation Users | SLN-Solutions

Here are a few lead generation ideas:

Lead generation content is more in-depth when compared to demand generation and more customized to the individual consumer’s requirements. Contents are developed especially with buyers’ pain points in mind.

  • Creating eBook: If you are thinking of creating a lead magnet for your website, then an eBook is one of the best ways. Most of the eBooks confront a broad topic in your whole industry so that you can promote it in various blog posts on your website.
  • Generate a content up-gradation: A content up-gradation is another lead magnet that entices people to give their email or other contact information in exchange for content up-gradation. EBook is available, but the content upgrade is specific for some blog posts. This enhances the conversion rate of the signups as the content is closely related to a blog post that the person is going through. Some examples of the content upgrade are cheat sheet, checklist, hosting a webinar, and step-by-step instructions. Webinar hosting with industrial experts is another best way for collecting data from audiences by needing them to sign up for the webinar.
  • Make use of platforms for lead analysis: While gathering information from important leads through lead magnets or webinars, you have to take things into your hand. Not all will provide their email or phone number. Here a direct outreach is helpful. For those who do not submit contact information but are qualified leads, a lead analytics platform can assist in identifying those people and finding contact information so that you can reach them directly.

According to Demand Gen Report, marketers prioritized content creation (46%), online advertising (44%), public relations (44%), email marketing (35%), and traditional ads (34%). Social media (26%), website optimization (20%), marketing automation (18%), and SEO (11%) for budget allocation. (Source)

Lead Generation Priorities Of Marketers Worldwide | SLN-Solutions

Now that you know a lot about demand generation and lead generation, let us discuss how they are related and differ.

Lead generation, in short, is a subset of demand generation. While demand generation creates awareness and brings new people to business, lead generation helps qualify those into leads. It makes them ready for the next level in the whole marketing or sales process.

One of the best ways to understand the difference is by looking at various kinds of content that each method uses. Demand generation makes use of free content for creating awareness and for attracting target audience, lead generation is mainly gated, which means a person has to give their email or other contact information for receiving that content.

Both lead generation and demand generation are used well in the whole marketing strategy. Both cannot go without each other. While generating the content, you should consider the ultimate goal behind that content. Is the goal creating awareness or increasing leads? For instance, if you are creating an eBook and your goal is developing awareness, it is demand generation. To increase your results, people must download the eBook without being required to give contact information.

This makes it easy for people to share with friends and colleagues. But when the goal is finding qualified leads, lead generation and that content must be gated.

 Demand Generation VS Lead Generation: The Major Difference

Difference Between Demand Generation and Lead Generation | SLN-Solutions

Both are interchangeable, but demand generation focuses more on awareness of brand and product education. Lead generation focuses more on converting prospects to qualified leads that can be converted to customers.

Demand generation campaigns and lead generation campaigns differ by whether the campaign is asking for contact information. If your content is gated, then it’s a lead generation campaign, and if not, gates it’s a demand generation campaign. But here, your main objective should not be getting as many people engaged in your content but capturing leads by offering them a reason to share their contact details.

Lead generation certainly depends on demand generation activities for creating and educating prospects. Lead generation but is more focused on taking the buzz and enthusiasm for your product and services and turning them into revenue and conversion events. The process depends on good division, data analysis, and proper alignment between the sales, customer teams, and content.

 

 

Demand generation and lead generation always work together to offer healthy conversion and maintain the pipeline healthy.

When you properly understand the difference between lead generation and demand generation, it becomes possible to design programs that complement and support the final goal of driving more attention and converting them to leads. It spurs growth and steadiness in your revenue.

Integrating mail marketing with lead generation builds up the efficiency of the whole approach, yields required outcomes fast, generates a long-lasting bond with consumers, fosters evangelism, enhances ROI of campaigns, and enhances the lifetime value of your consumers.

Wrapping Up

Recognizing what prospects need and what they demand, overcoming challenges will offer guidance for your sales efforts. Offer information that backs your solutions and shows validity in their success. All demand generation and lead generation efforts drive engagement for competent leads and consistently connect with new prospects of your business.

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