Many people get easily confused with these two concepts or tend to think that one should focus primarily in lead generation. It is therefore important to clarify that there is no lead generation without demand generation.
Without generating demand about your service/product it is very difficult to generate leads. However when you have generated demand, leads will be follow without too much additional effort.
Look at your B2B company from a costumer point of view: Will you, as a consumer, buy a new product of an unknown brand? Even if you had the need and this specific product could help? Probably not!
In some cases, you will learn about the solution, but will look for a solution of a better-known brand - a brand that a friend, family or co-worker has tried out and has recommended. Only 2.5% of consumers, the so-called "innovators", will buy and try out a product without prior recommendations, and 13.5% of early-adopters will follow them. But the rest, 85% of consumers, will wait until they have trust in the new brand and were recommended by someone.
Trust is the key word in this game. Generating demand is building trust among your audience in your brand, in your service or product. And, when the time comes that there is a need for your product and service, they will come and knock on your door.
But, how can you do this effectively? What are the tactics that will help you generate demand?
The first and foremost step is to build a good product. I know it might sound silly, but yes, I have met CEOs who came to consult with me regarding marketing without having a product.
Don’t underestimate the importance of the brand name and logo. The look & feel of the website will be the "window shop" that will provide the super important first impression. You have less than 15 seconds for that - if you don’t catch the customer attention at once, it will be very difficult to have a second chance.
When you have all these initial assets, you can start creating relevant quality content, and presenting such material to reach the right people, at the right time in the right place.
This is why it is super important to learn about your buyer-persona thoroughly, the type of persons to whom you want to sell, learn about their pain-points. This learning is not a one time project and you are done, you need to come back time to time to your profile and “look in to its eyes” and see if this is wtill the person you are selling to. Once you have the profile, start creating quality content that will show your expertise, build trust in what you do. Their curiosity and willingness to learn more will bring more and more visitors to your stunning website.
Here are some content types that will help you create awareness and generate demand:
Bottom line, in all of this content material, you're not trying to sell your product, but rather to establish yourself as a trust-worthy source of relevant information for someone who's interested in making an educated decision.
Do not wait for immediate results after the first content piece you have released. You must keep on
delivering relevant content on a consistent pace and always keep in mind to deliver value to your readers.
In my next blog, I will share with you more on demand generation, that will eventually lead to lead generation.