Demand generation marketing campaigns can be one of the most challenging aspects of driving business growth.
Successful marketing of your brand all boils down to resolving a problem shared by your customers. But first, they need to be aware that there actually is a problem and that you offer the solution.
By successfully pinpointing customer issues, you can begin to create a demand generation strategy that will resonate with your audience. Demand generation allows your target audience to learn about the pain points they’re facing, why they’re important, and how your brand can resolve the situation better than anyone else.
Campaign Element #1) Showcase How Your Product Is Going to Save Someone Money, Make Them More Efficient, Make Their Lives Easier, or Drive Tangible Success
Your audience must understand the value of what you offer if you want them to hand over their money. And often, the best way to do that is to come right out and tell them (or show them).
When developing demand generation campaigns, it’s essential to consider all the ways your audience will benefit from purchasing your product, subscribing to your service, or implementing your recommended methodologies.
While everyone likes to save money, value is not exclusively tied to money saved. Show businesses and organizations how you can help them improve efficiency, reduce daily headaches or bottlenecks, or improve industry exposure, and you’ll be highlighting the value you bring to the situation.
Campaign Element #2) Create Lead Magnets for Your Buyer Personas
Creating lead magnets for your buyer personas can be a handy tool in your demand generation toolbox.
A lead magnet doesn’t have to be a significant undertaking. It can be as straightforward as a targeted infographic or whitepaper. Creating something an interested visitor of your site needs to sign up for to download gets you crucial data. This component of your demand generation campaigns not only helps you understand them and the challenges they face, but it also helps you adapt your persona, product, or service to fit their needs.
Campaign Element #3) Develop Tests That Identify if There Is a Viable Market and Who These People or Companies Are
Creating a great product or developing an awesome service isn’t enough. There has to be a need for it.
Careful evaluation of your market will help you determine ways to develop tests that confirm the market needs you. It will also help you recognize and identify your primary target audience. Once you know who you’re selling to and why they need your product or service, you can begin custom targeting your demand generation campaigns.
Campaign Element #4) Offer Free Tools and Software That Make It Way Easier to Get People Using Your Service
Everyone loves free stuff. Offering free tools, software, or other problem resolving methods attracts people to your brand or product with greater success. Free gifts give your audience a chance to see more of who you are and build trust in you.
When someone trusts your brand, they’re more inclined to make return visits to your online content. By adding free tools and software that deliver real value to your demand generation campaigns, people are more inclined to share their information to gain access, considering it a fair or worthwhile exchange. You can always look for ways to monetize or add value for premium versions in the future.
Campaign Element #5) Incorporate Not Just Digital Traffic Growth, But Also Brand Awareness
Everyone knows that digital traffic is important, but it’s not the only tool required for successful growth in a demand generation campaign. In addition to increasing visitor numbers for your online content, it’s worth the effort to increase brand awareness.
Your audience may know a problem exists, but they need to have enough faith in your brand to choose it over your competitor. When you get your brand in front of your ideal audience, you improve the chances someone will remember your product or service when purchasing to solve their issue.
Campaign Element #6) Target Your Bottom of the Funnel Customers and Returning Customers
While focusing on prospective and first-time customers is a must-do, the most successful demand marketing campaigns can’t forget the bottom of the funnel and returning customers. Customer retention is vital to creating customer loyalty. Loyal customers are more profitable when you factor in their lifetime revenue contribution to your brand.
Rule of thumb: It’s more expensive to bring on a new customer than it is to keep an existing one!
Campaign Element #7) Partner Up for Maximum-Impact Webinars
When you partner with industry influencers to co-host a webinar, you’ll instantly increase your industry standing and create priceless connections, while boosting brand awareness and building trust. You’ll also elevate your brand for your audience when you partner with companies or speakers of greater brand awareness or industry influence.
On the fence about webinars as a demand generation tactic? Learn more about why your company should be using webinars.
Campaign Element #8) Don’t Overlook The Power of Great Content
Inbound marketing remains a fundamental element in successful demand generation campaigns, making content creation more critical than ever before.
A comprehensive content strategy that can support your demand generation campaigns allows you to give your audience the very best you have to offer and position yourself as the only go-to resource they need.
While not a one-and-done undertaking, content’s long-term framework requires continued efforts to see results – and real value. Before you start, ask yourself why someone should read your post and not the next website they might find. When you have that answer, you’re ready to get to work. This can mean incorporating original research or other valuable data, offering insight into industry trends, and illustrating best practices in shareable infographics.
How to Measure the Success of a Demand Generation Campaign
Metrics and KPIs for Your Demand Generation Campaign
Quality metrics and Key Performance Indicators (KPIs) can help you truly see how your demand generation efforts impact your revenue. This includes tracking traffic, engagement, actions taken, and monetization. Let’s break down a few important metrics to bear in mind.
Opportunities Generated
When tracking traffic, note the number of visitors who turn into leads and then how many of those leads turn into opportunities. This can help you measure how many qualified leads you’re gathering.
CAC
The Customer Acquisition Costs (CAC) is the money you invest to gain each of your customers. Being aware of it helps you budget your efforts and build a more informed marketing strategy.
CPL
The Cost Per Lead (CPL) is used to track how much you spend per lead. This cost can be multiplied by the number of leads you bring in to determine how efficient your efforts are.
CLV
Customer Lifetime Value (CLV) can help you track how much revenue you can gain per customer. Multiply the average purchase value by the average purchase frequency to understand how much you can earn from each new customer.
Sales Cycle Timeframe
The sales cycle timeframe, or the length of time it takes to convert a visitor into a lead or lead to opportunity, can help you identify which channels or campaigns add value (worth pursuing) and which ones are inefficient (not worth pursuing).
Avg Sale Value
Average sale value can help you project revenue and identify the types of customers worth prioritizing. Understanding your average sale value for each channel allows you to realize a rough estimate of the Return on Investment (ROI) for each one.
ROI Aka What You Invested vs. What You Made
Whether it’s money, time, energy, or any other metric, understanding the overall return on your investment allows you to evaluate the success or failure of a given task or channel. This helps you see what you gained, compared to how much you invested.
The Future of Demand Generation Campaigns Start With a Virtual Event Platform Equipped to Increase Engagement
If you’re still wondering about ways to maximize your demand generation strategy through webinars and online events, start by looking at your virtual event platform.
You need a platform provider who’s capable of not only supporting your campaign but also elevating it. SpotMe’s virtual event platform can help you go beyond the ordinary webinars and online events everyone seems to be hosting. Request a free demo and try it out for yourself.
Still not convinced? Learn why virtual event and webinar marketing is the one tactic demand generation marketers can’t afford to ignore in 2021.
