Strategy, technology, and buyer experience all play a pivotal role in demand generation. Creating a solid strategy, that can be implemented into content production, is vital to the expansion of long-term relationships and business growth.
What is demand generation?
Demand generation, according to Pipeline, is the process of building awareness and interest in a brand’s products and services. The strategy requires an in-depth look into the reason for audience demand and how to create it. It’s programmatic as it can be tailored and adjusted to meet the needs of a business and its success objectives. The building of a demand generation strategy typically results in a greater understanding of and connection to the buyer.
It addresses two main marketing challenges: raising brand awareness and generating leads. Both concepts are paramount in the B2B buying journey as without them, you run the risk of losing valuable partnership opportunities.
How to create a demand generation strategy
The process, when creating a demand strategy, starts out with basic, yet key essentials. Its main objective is to create a plan of action that will strike a desired audience. Keep in mind that value creates demand. Marketers should solidify a plan, which includes the following:
- The goal – what desired state do we want our brand to aim towards? How can my brand grow? How can my brand build long-term relationships?
- The idea – asking what we offer and how our products meet a specific need
- The message – emphasizing key words and takeaways, putting an emphasis on personalization and relatability
- The channels – looking into which sources will help us drive more traffic across multiple platforms
- The metrics – paying attention to average cost value, cost per lead, and cost per acquisition, etc.
Overall, every single step in this process will, and should always, reference back to your overall business goals. Content, through the use of various outlets such as social media platforms and email marketing, will be your biggest ally in showing off these steps. Content quality is central to generating demand for your products and services. When following these steps and combining them with quality content, you are able to create a successful campaign for your product or service.
The B2B buying journey
When planning a demand generation strategy, marketers should consider how the buyer is approaching a purchase and then step into their shoes themselves. Buyers tend to be cautious when making purchase decisions, which, as a result, provides an opportunity for brands to convince them to purchase their specific products or services.
The typical B2B purchasing process is as follows:
- Problem identification – questions and needs are formed
- Solution exploration – research a means to fit a certain need
- Requirements building – combining that research and taking it a step further and building almost like a model of the product that meets the need.
- Supplier selection – ultimately leading to a purchase decision
How does the B2B buying journey impact demand generation?
The process plays a critical role in understanding how intricate a purchase decision can be. Steps can be repeated or started from scratch if the initial need is not met. By understanding the entire B2B purchasing process, businesses are better equipped to serve their customers, all while increasing their positive reputation and displaying themselves as a reliable partner.
Building your B2B demand generation strategy: Conclusion
In the end, the goal for businesses is to shorten the buyer journey cycle, create demand, and convince the buyer of a need to purchase. By using the knowledge of the buyers cycle and creating a solid demand generation strategy, your company will be able to achieve its goals. Building relationships and enticing your audience at every stage will set you apart from competitors. It is important to remember that there will always be different needs to be met and it's vital to adjust in order to generate more traffic for your business.
Americaneagle.com is your trusted technology partner. From strategy to digital marketing, experience design, web development and more, we’re your go-to global agency. Contact us today to learn how we can help your online business thrive.