Demand generation demystified
Demand generation is exactly what you’d think, generating demand for a business’s products and services. Where it differs from lead generation is that it’s a long-term, nurturing approach that takes prospects on a journey, moving them from interesting browser to converted buyer. As prospects move through the funnel towards becoming customers, an integrated marketing and sales approach is used to ensure they remain engaged and are targeted with timely relevant content. The upshot, marketing activities can be focussed on delivering quality leads to sales teams that are much more likely to convert. Prospects that aren’t ready to buy today remain under marketing’s watchful expert eye, targeted with relevant messaging designed to maintain the relationship and influence a future purchase.
Demand generation encompasses all marketing activities from brand building, tactical campaigns, social and digital efforts to targeted email marketing, what makes it distinct from traditional marketing programmes is that all activities build and nurture key relationships for the long term and closely influence the sales cycle.
Why invest the time and effort when I can reach out using lead generation activities on ad hoc basis?
Lead generation, done well, is a vital part of any successful sales strategy, but consider the following: Only 3% of your market is actively buying. 56% are not ready, 40% are poised to begin (source: Vorsight). And 63% of consumers requesting info on your company today will not purchase for at least 3 months (source: Marketing Donut). This makes every interaction a valuable touch-point and an opportunity to convert prospects down the line and importantly, one that can’t be wasted.
But my marketing team are delivering stacks of leads, why would I outsource demand generation?
79% of marketing leads never convert into sales. Lack of nurture is the main cause for this (source: Marketing Sherpa). Research shows that targeting users with content relevant to where they are in the buying process achieved 73% higher conversion rates (source: Aberdeen).
Delivering content that’s relevant to where your prospect is positioned in the buying cycle is the most effective way to achieve conversion. Unless you have a full roster of content specialists in your team, it’s a tall order to expect your in-house resource to design and implement demand creation strategies that deliver immediate results. Producing high-quality leads is the number one challenge that B2B marketers face (source: Hubspot) and, with nearly 7 in 10 marketers still unable to identify their funnel (source: Marketing Sherpa) it makes sense to on-board a partner that has deep expertise in delivering results focussed demand creation strategies into businesses. There’s no need to do away with what’s already in place, often these programmes can work in partnership with the existing marketing plans to leverage existing best practice and content.
Why Roots to Market?
At Roots to Market, we build intelligent marketing capabilities using a mixture of proven marketing tactics to reach your target audience and produce marketing qualified leads for your sales team. We offer tailored, blended services of inbound and direct marketing, automation and complete tactical campaigns, dependent on clients’ needs. If you’d like to talk more about how we can drive tangible results from your demand generation strategy, get in touch today on 01392 796 702.