Demand generation
Also called: demand generation/ generating demand
The term demand generation is an umbrella term for all marketing efforts used with the goal of getting the target audience excited about an organization's products and services.
The main objective of demand generation is to create exposure around the offer in question. The main tools for this are generating PR, addressing existing customers (by alerting them to new features or marketing a useful accessory for an existing product), promoting a new offering and entering new markets.
The ultimate goal of demand generation is to create a long-term commitment to customer relationships thus generating demand. This is why these marketing efforts come under the heading of demand generation.
The 3 main goals of demand generation:
The difference between lead generation and demand generation
The terms "lead generation" and "demand generation" are frequently confused. However, there are a few key differences between these different forms of marketing deployment:
- In the case of lead generation, marketing activities are chosen with the objective of enticing potential customers to leave their data. This provides opportunities for a company to contact these individuals directly to sell the offer directly. This involves the use of content aimed at taking the first steps in the sales funnel.
- The strategy behind demand generation is to target potential customers with the goal of presenting a problem or need that this person identifies with. Of course, during market efforts, these potential buyers are also made aware that a specific offering is the perfect solution to solve a problem and/or meet a specific need. In this case, more demand is created for the specific organization's offering. A demand generation strategy involves the use of high-value content that focuses on becoming aware of a need and moving to purchase. Indeed, the steps involved in gathering information and comparing alternatives are quickly skipped when applying this sales funnel.
