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Demand generation strategies can help you attract clients to your company. However, creating a strategy that functions like clockwork isn’t straightforward. This article will discuss the three prongs of a fruitful demand generation strategy and how to make them work for you.
A Demand Generation Strategy Requires Three Elements
Demand generation involves cultivating brand awareness among your target audience and gently pushing them through your funnel until they decide to purchase. To make the most of your efforts, you’ll want to consider three factors: strategy, techniques, and technology.
Identifying Your Strategy
Establishing a strategy is the first part of demand generation. It begins with determining what your goals are. What are you hoping to achieve? How much revenue do you expect to earn through demand generation? Can you quantify the number of customers you need to meet your objectives?
Look past metrics that don’t paint a complete picture, like social media likes or website clicks. While they signal that your content interests the consumer enough to engage, these actions don’t necessarily mean a person will move on to the next step.
Your next task is to define your targeted audience. What characteristics do they share that will ultimately lead them to make a purchase? What pain points can your product or service address for them? The more you understand your targeted customer base, the easier it will be to create marketing materials that resonate with them.
Content is a major part of any demand generation strategy. Through content, you can share the benefits of your products and services. You can also establish credibility in your market niche and grow a following for your brand.
There are various types of content you can use. Videos, blog posts, and whitepapers are all examples. While creating content takes time, remember that it’s crucial for most businesses. Over the long run, your efforts will pay off.
Your strategy should also consider lead nurturing. Most people aren’t going to purchase something from your brand simply because they saw an ad or read a blog post. Instead, you’ll need to form a connection with them. Email, social media, and SMS signups can help create the bonds necessary for lead nurturing.
Implementing Your Demand Generation Strategy
The next part of demand generation involves actual implementation. If you plan to use multiple platforms to distribute your content, you’ll likely want a robust content management system (CMS) and marketing automation platform (MAP).
Both a CMS and MAP help you oversee your content distribution. Rather than handling everything manually, you can turn to the systems to manage your social media, blog posts, and other content.
Your CMS and MAP systems will likely provide you with helpful analytics you can use to evaluate your demand generation strategy. Instead of relying on third-party sources, these systems will integrate the details from each source you use into one single data warehouse. That should save you time since you won’t need to click between various platforms to check your campaign performance.
Another factor to consider in implementation is data processing. Not all of your data will consist of genuine interactions with your brand. Some will be accidental clicks, and others may be bots. Determine how to identify and remove bad data from your metrics so you don’t consider it when evaluating your strategies.
Deciding on Technology to Manage Your Demand Generation Campaign
A raft of tools are available for marketers seeking to implement a demand generation strategy. While you likely won’t need every tool available, deciding which can help you improve and manage your campaigns is critical. The tools you select will vary depending on the strategies you use.
Some examples of available marketing technology include CRM systems, project management software, and SEO tools. You may also need social media management or analytics software. Automation tools can eliminate your team’s time on routine tasks like follow-up emails and shipping updates.
When selecting tools and software to support your demand generation campaign, carefully evaluate the costs and benefits. Some systems can be quite expensive, so you don’t want to purchase something that doesn’t add specific value to your demand generation efforts. If you do, it will eat into any profits earned from your new clients.
A Well-Performing Demand Generation Strategy Takes Effort
It’s critical to properly plan every aspect of your demand generation strategy before you start your marketing efforts. Simply trying out tactics to see what sticks isn’t likely to yield the results you’re looking for, and you may burn through your budget before you realize any benefits.
Consider all three elements of a demand generation strategy — identification, implementation, and technology — as you plan your next campaign.