Generating interest in a product or service is inherently challenging. The initial barrier is customer awareness. Once customers are aware of the business and its value offering, the challenge becomes educating the audience as to how the product/service helps solve problems.
Generate demand, finesse your leads and it won’t be long until you have a loyal customer base. Below, we provide a look at demand gen vs lead gen and examine the differences in lead generation strategies.
Demand Generation and Lead Generation are Interconnected
Regardless of the lead generation strategies you choose, demand generation is still necessary. It is important to have an in-depth understanding of each that amplifies the other.
Demand generation, commonly referred to as demand gen, is a process that heightens awareness of the business’s service or product. Though both are somewhat similar, each type of generation serves a unique purpose to help steer prospects to the company’s website or to brick-and-mortar locations to find out more about how the product or service solves problems. The aim of demand generation is to expand the target audience, develop a rapport and trigger a genuine interest in the value offering.
Examples of demand generation tools include:
- YouTube videos
- Blog posts
- Social media posts
- Press releases
- Podcasts
- Case studies
Each demand generation tool is offered at no cost to the audience in an attempt to intrigue target customers.
No two Lead Generation Strategies are the Same
Lead generation, often referred to as lead gen, is a process that attempts to convert target customers into leads that are qualified. A qualified lead is an individual that has a sincere interest or need for the value offering.
Lead gen is essentially a means of funneling potential buyers of the service/product toward conversion. However, leads must be nurtured to maximize conversion. Lead nurturing is highlighted by a direct follow-up interaction with a sales professional.
Lead generation strategies often center on the development of gated content. Gated content requests an individual’s contact information so they can receive a piece of content that interests them or holds value to them.
Examples of lead generation content include:
- Educational whitepapers
- Informative eBooks
- Checklists
- PDFs
- Free trials
- Contests
- Product demos
Access to such content is obtained by entering an email address or other contact information into a contact form.
Test out Different Lead Generation Strategies
It is in the interest of every business owner, manager and marketer to experiment with different lead generation strategies. As an example, writing a brief eBook that entices potential customers to learn more about the industry, your company’s niche and its unique product or service will inevitably lead to website visits, in-store visits and sales. Provide a free eBook on your website or social media accounts as a lead magnet, promote the eBook in your blog posts along with the rest of your web footprint and be patient for the ensuing response.
There is a common misconception that the average person is uninterested in attending a webinar. In reality, webinars have become quite popular, especially after the tech transition that occurred during the pandemic. Host a webinar with industry experts or your best personnel, collect information from those who attend virtually and the stage will be set to reel in new prospects. If you are intimidated by the prospect of coordinating and executing a webinar, use software such as Demio or WebinarJam and you’ll find the process is easier than expected.
Consider generating leads through a content upgrade. Examples of content upgrades are cheat sheets, instructions for product use, checklists and PDF versions of helpful information such as blog posts.
Content upgrades provide an opportunity for businesses to collect email addresses that can be used to reconnect with parties who express an interest in the company’s value proposition.
There is no Shame in Paying to Generate Leads
Lead generation strategies extend all the way to paying to present information before a target audience. Give paid advertising a try and you’ll find it is quite an effective means of moving new leads into the sales funnel. The challenge lies in guiding those new leads through to the bottom of the sales funnel.
More often than not, an offer of some sort is enough to convince prospects to convert. Certain paid ads are highly effective at boosting brand awareness, especially in the context of paid search marketing.
Above all, recognize that it is financially prudent to present paid ads before your target audience. Use those ads to boost brand awareness and you’ll succeed in nurturing leads that eventually transition into paying customers.
Be First to Comment