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Blog Post

Demand Generation

7 Misconceptions about Demand Generation

Written by
Matter Made

Demand generation is a full-funnel approach that’s designed to provide information at the moment of need.

Demand gen is critical to success today in B2B marketing. It’s a strategy that builds brand awareness and demand for your products and services. Today, demand generation uses multiple channels and approaches with decentralized information used across platforms.

Despite the power and efficacy of demand generation, there are many persistent misconceptions. Here’s a look at 7 myths about demand generation and why they’re inaccurate.

Misconception #1: Demand Generation and Lead Generation Are the Same Things

People incorrectly believe lead generation and demand generation are one in the same. However, they are very different in scope and practice.

Lead generation is a much more basic sales strategy that’s focused on a singular goal: obtaining more leads. It’s a basic approach that’s designed to collect contact information from customers who might be interested in your product or service.

Lead generation takes a blanket approach to market to the masses. One example: using blogs or webinars to entice readers to leave contact information on a web form.

This is not to diminish lead generation. There are effective ways to garner more leads. Many businesses, impatient with the time needed to deploy demand generation, turn to lead generation instead.

Demand generation is a more comprehensive approach to sales and marketing. With demand gen, you will attract, convert and keep customers.

Demand generation is about nurturing relationships at each stage, as opposed to lead generation, which is more transactional. Instead of passing leads on to a sales team for follow-up, demand gen looks to meet prospects and customers where they are.

With demand generation, you identify what a customers’ needs are and provide solutions, whether it’s content, free tools, or product guides. These solutions are dependent on where a customer is in their journey. They can be personalized using data gleaned from the customer relationship.

Misconception #2: Demand Gen Is a Top-of-the-Funnel Activity

It’s a common misconception that demand generation focuses exclusively on the top of the funnel. Generating demand, however, is not just about acquisition. It’s about engaging and re-engaging customers.

Demand generation takes the long view. It’s about obtaining new prospects and converting those prospects. It’s also about reinforcing your brand and continuing to provide value throughout the lifetime of a customer’s relationship.

Misconception #3: You Can Control the Buyer Journey

Demand generation marketing is not about controlling the buyer. In fact, today, the buyer has more control over the customer journey than ever before.

Why? First, the expectations are different. Customers want relationships with the brands they use. They expect brands to know the extent of the engagements, their preferences, and their needs.

In addition, buyers today have lots of information available, including independent product reviews, message boards, and social media channels. These forums give buyers far more insights into your products and services and the ability to do their own research.

With buyers having information and freedom, demand generation is the right choice. You cannot control the buyer but you can be prepared to meet them where they are.

Demand marketing focuses on having high-value information available at every stage of the buyer’s journey. Creating great content and using your CRM to manage buyer engagements results in better outcomes for buyers and your brand.

Misconception #4: Demand Generation Is a Singular Approach

Demand generation is not a singular strategy to use for your marketing. Instead, it’s the collection of multiple marketing initiatives, across multiple channels.

These activities are coordinated, integrated, and driven by shared data. They also are evolutionary and iterative. If one approach is not working, such as search engine display ads, demand gen allows for rapid pivots. You can shift out of one strategy and try another.

The key is to develop a strategy that engages prospects and customers across channels. Social media, web, SEO, email, video, and other channels all factor into engaging your target audience.

The reason for this approach is evident. Your buyers do not operate on one channel only. Your marketing should not, either.

Misconception #5: There Are No Targets in Demand Generation

With its multi-channel approach, demand generation sometimes suffers from an assumption that targets are not necessary.

The opposite is true. You should use targets for each challenge used. Targeting likely buyers on the right channel at the time of need is the smart move. It leads to higher levels of engagement and higher conversion rates.

Setting these targets requires some work. You need to know who your ideal customers are. You need to understand when they will be looking for solutions and where.

Misconception #6: Content Format Is Irrelevant

Not true: Walls of copy rich in information and stuffed with keywords is the way to go with content.

Remember, the buyer is in control of the relationship. And your brand will not be the only one creating content.

You need to cut through the clutter and noise. That means creating content in the format that your customers want. Increasingly, customers are interested in content in different formats – infographics, videos, and podcasts.

The good news is that often you can repurpose content. A Q&A video with a product manager can be converted into a blog post. A new product announcement can be used to create a graphic that explains key features and enhancements.

Misconception #7: You Need Channel Specialists to be Successful at Demand Generation

Channel specialists are certainly valuable. They know how to effectively manage one channel and bring expertise and experience to your business,

However, they are just that – a specialist who knows one channel, albeit well.

Demand gen requires the use of multiple experts who understand the big picture. You need a team that can work together on strategy messaging, execution, and measurement.

Matter Made helps B2B SaaS businesses grow. Our demand generation, go-to-market, growth marketing, and paid media services help brands attract more customers and convert more sales.

To learn more about how Matter Made can optimize your demand generation strategy, contact us today.

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Coming up next:

Blog Post

Demand Generation

The Best Demand Gen Strategies and How to Implement Them

5
min read
min watch

There are many effective demand gen strategies. But knowing which works best for B2B SaaS or your individual business isn't always straightforward.

In this blog post, we will explore the best demand generation strategies for B2B SaaS. We'll look at how to use them to meet your goals and how they'll inform your current or future marketing strategy.

What Are 9 Key Strategies for Demand Generation?

Before I talk strategy, I want to get one concept out in the open. We're going to look at 9 effective demand gen strategies that are very effective for B2B SaaS looking to grow their companies.

But I'm not suggesting you use one of these and run with it. These strategies are interconnected. Implementing each of these together amplifies your demand generation to not only generate more revenues.

And you can do it time- and cost-effectively to generate the positive cash flow you'll need to grow.

1. Define Your Audience for Better Targeting

Create data-backed buyer personas that represent your ideal customer. Use this demand gen tool to connect more efficiently with targeted messaging within these other demand generation strategies.

2. Focus on Full Funnel

Buyers go through three distinct stages of a buyer's journey.

  • Non-aware. They don't know they have a problem or how much it's impacting their productivity, business goals, customer relationships, etc.
  • You have the answer to this problem, but they don't know they have a problem yet.
  • To generate demand, research, plan, create, and publish content to expand awareness of the problem.
  • Use it to guide them into the next stage and capture the lead (email list, etc.) to improve your ability to nurture.
  • Problem-aware. They now know they have a problem. They want to learn everything they can about possible solutions.
  • Engage them with content that helps them explore the solutions.
  • Focus on benefits, not specific SaaS features, which will seem overwhelming right now.
  • Solution-aware. They now need to define and refine the solutions that will work best for them.
  • Allow them to experience the solution with a demo or free trial.

Map out the buyer's journey within your company to enhance the timing and relevance of your messages.

3. Be Omnichannel

According to McKinsey, 94% of survey marketing leader respondents said the move toward a more omnichannel experience has been good for businesses and customers. B2B customers regularly interact with brands across at least 10 channels.

These include various channels:

  • Organic social media and search
  • Paid social media and search
  • Influencers
  • Display ads on Google and Facebook partner websites
  • Remarketing
  • Email
  • Website
  • Apps

To implement an effective omnichannel experience, you must be consistent, targeted, and resourceful. This allows you to work within time and money constraints.

For example, deploying effective analytics, A/B testing, a robust content management system, and automation allows you to streamline content creation and related processes. Eliminate duplicate efforts to maximize ROI.

4. Build a Relationship

Demand generation gets much easier when B2B SaaS companies focus on solving real-world problems. You build authority, industry relevance, and a following of loyal fans/customers.

This becomes a magnetic force that amplifies demand generation.

To build a relationship, listen to your customers and prospects. Build your content messages around their needs, goals, and preferences.

Showcase your willingness to solve B2B problems and how others use your SaaS to meet their goals.

5. Publish High-Quality Content

High-quality content is the substance that turns "strategy" into tangible business results. Use it to communicate thought leadership, authority, relevance, and your unique value proposition (UVP).

Guide and influence by presenting the right kind of content at the right stage of the buyer's journey.

For example,

  1. Someone is not aware they have a problem. Social media posts, blog posts, and videos can help them learn about their problem.
  2. Guide them to the solutions. Leverage valuable content to capture demand through email list sign-up. Checklist, Guide, etc.
  3. Send them solution-focused content via email to nurture that interest into making a decision. Case studies Vs. Content, etc.
  4. Offer them a demo or free trial so they can experience the solution.
  5. Assign the lead to a sales rep. Follow-up with a Sales email sequence (email automation) that includes sales enablement content.
  6. Support and re-engage them to increase retention and CLV through retargeting, social media, email, customer support

6. Streamline Workflows with Automation

Identify repetitive and time-sensitive tasks. Use automation to enhance workflow and improve results.

For example, lead scoring automation tracks a lead's behaviors. It identifies when the MQL becomes a SQL. It can then assign that person to a sales rep to begin email sequences and sales outreach.

This is known as Speed the Lead.

According to Oracle research, lead quality increases by 80% when companies employ automation. And this is just one pivotal moment you can use it to enhance results.

7. Unify Marketing, Sales & Service

A unified marketing, sales & service team communicates one message and accomplishes perfectly timed hand-offs. Achieve consistently delightful customer experiences. People want to share these experiences online.

This sharing feeds the top of funnel. It generates more demand.

8. Target Key Accounts

Key accounts:

  • Are high ROI and CLV
  • Help you generate buzz and demand
  • Show that your SaaS works
  • Give you valuable feedback that helps you improve your product

They've also been working with you for a while, and it may be a name people know. Even better!

Identify key accounts to acquire and retain. While you never want to be too reliant on one account, these are critical for Demand Gen and growth.

9. Optimize with A/B Testing, Tracking, and Analytics

Track, test, and analyze to improve how you apply these strategies continually. Invest in tools to correctly attribute revenues across the buyer's journey—not just the last touch.

Track ROI of your various strategies, channels, and companies to determine which ones you should increase to grow.

This not only improves their effectiveness. It cuts costs to increase ROI.

How to Build a Successful Demand Gen Campaign?

Leverage these strategies to provide real value to customers. This builds credibility that attracts the right people and guides them through the buyer's journey.

Want to know more about how to implement demand gen for your B2B SaaS company? See how Dropbox increased targeted engagement by 6.5X.

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