70% of businesses report that they have increased their budgets for demand generation, and another 20% plan to increase theirs in the coming years. That is likely because of the sheer power of what B2B demand generation can do.
This is how companies grow and remain competitive in a developing digital marketplace today. For a funnel that consistently generates high-quality B2B leads, here is what to consider.
How it Works
It’s a growth marketing strategy. The aim is to create a demand for your brand. You want to educate your target audience about your product or service.
Other lead-generation tactics push for immediate conversion. While there are similarities in demand generation, there are also distinct variations.
The primary difference is that the goal is to educate the buyer. This is performed on a grand scale.
The concept is that buyers will come when they are ready to buy. Therefore, you are not seeking a quick close in the sales process. Instead, the marketing team will capture leads and give them to the sales team, where they will create a sales strategy to close deals.
Generating B2B Leads
Demand generation success depends highly on your strategy and creating an effective funnel. There are two ways to start.
One way to create a demand generation funnel is to add to your already traditional marketing funnel. Another way to begin is by taking a new approach to grow and convert your organization’s pipeline.
This begs the question, “Which route is better?” Think about it like this: while you want immediate results, you will get more out of a well-planned demand generation strategy.
For many years, marketers were focused on pulling in the highest number of leads possible. However, they may not have aimed to generate quality B2B leads. What happens is that this approach can negatively impact B2B sales.
The sales team will spend too much time working on leads that will not buy, either because they are not ready or they are not the right audience for your product or service.
Best Practices For B2B Demand Generation
Here is the right way to create your funnel. Start at the top. Focus on building brand awareness.
Your target audience knows of a challenge they are facing. However, they do not know that your brand exists and can provide them with a solution. Rather than pitching your product or solution, you are looking to create brand awareness by educating your audience.
Some standard content pieces used in B2B demand generation funnels are surveys, statistics, original reports, case studies, and infographics. You can also use webinars, in-depth guides, email courses, checklists, and industry news.
Personalization is vital for successful digital marketing campaigns. 89% of marketers say that when they use personalization in a campaign, they see a positive ROI. Therefore, you should consider creating personalized videos in your strategy and funnel.
Once your target audience recognizes your brand, it’s time to deliver value. Your prospective customer needs your product or solution because it will resolve an issue they are facing. This is a time when customers want to know more about your brand.
They need to know exactly how your product or service works. Plus, they want to know more about who you are and what you value. You may think this is the time to close the deal with a cute sales copy, but no, not yet.
This is a time to be informative. Use the same content, including industry news, social media posts, videos, etc. The content you choose must be about something applicable to your audience.
Before you go in for the sale, there is one more consideration. This goes back to customization again. With B2B demand generation, you address a specific company’s needs, including the industry they serve.
Before you go into bragging about your brand, it is important to research if the customer is a good fit for your business. It would help if you had the tools and calculators to help.
These strategies are for the entire funnel, not just the top. It follows a path to conversion.
The next step is often a free trial or demo setup. Other options include social selling and LinkedIn retargeting.
Win Over Customers
Now is the time for conversion. You have been working hard, so now you can reap the reward. This does not mean you change your strategy because you are still closing the deal through demand generation.
Be clear about what ROI the customer can expect. Consistency in your value proposition is essential. After they buy from you, what will they get, and why are you so much better than the competition?
This is a necessary time to keep them sticky. Customer retention marketing strategies usually cost less than customer acquisition campaigns. The aim is significantly different, as you no longer need to make them aware of your brand.
After they close, you want them to stay loyal to your brand. That is why keeping them in the B2B demand generation funnel is critical even after they officially become a customer. You can do this through informative onboarding and touching base with a feedback survey.
B2B Demand Generation Funnels
To grow your business, you will need a steady flow of high-quality B2B leads and a loyal customer base. Creating a B2B demand generation funnel the right way will supercharge your sales strategy.
If you need more sales, The Selling Factory can help. Our professionals have a proven history of increasing leads, sales, and opportunities.
You can raise the roofs on sales. Generate more revenue than you imagined you could. Contact The Selling Factory today for a free consultation.