Best Demand Generation Techniques to Maximize Results Even on a Tight Budget

Demand generation is a technique of B2B marketing where certain strategies are implemented to create interest in some products and services among potential customers. A good demand generation strategy is one that ends in happy customers and profitable businesses. Previously, lead quantity was the focus. However, recently there has been a shift and more and more businesses are now considering the quality of leads as a primary focus. No business wants a lead that doesn’t convert into sales leads. So generating just the interest in not enough anymore.

Demand generation, as understood today, is more about the generation of interest in products and services as well as better brand authority and recognition. The focus has to be on the entire sales funnel rather than just the top for the success of a business. Therefore, the latest practices in demand generation are about building better relationships, operational efficiency, and adopting the latest technologies for enhancing the whole process. This article examines and briefly explains eight demand generation practices that marketers can use to make their businesses profitable.

1. Automating the top-funnel processes

The marketing automation tools have led to the automation of the mid-funnel processes. Research in this field suggests that automation is being used for personalization of content, profiling of leads, and lead nurturing. While this has led to more efficient processes, the top-funnel processes are still ineffective and manual. Therefore, the need is to automate the top-funnel processes so that marketers can centralize their leads and make the processes like lead data validation, vendor management, standardization, and enhancement more efficient.

2. Adopting improved account-based marketing techniques

Further, the organizations have to switch to better account-based marketing (ABM) techniques to increase the ROI. It is time to ditch the old ABM practices like cold contacts, email blasts, etc. and adopt new and sophisticated ones.

3. Generating high-quality data

This is being stressed upon the most by the industry experts. Data quality has a huge effect on all aspects of marketing. It is important to have high-quality content at each stage. There are many effective tools in the market that ensure the data quality and data match the MAP and CRM requirements.

4. Frequent and improved communication with clients

Traditionally, marketers do not engage with the clients. However, communication with the client has a huge impact on demand generation. Marketers who are in frequent touch with their customers have better knowledge of how to attract and retain their clients.

5. Better communication with sales and customer service

A research has revealed that better communication with sales and customer service department’s leads to 38% higher sales win rate and 36% better customer retention rates. This happens due to the fact that improved communication with these departments gives you a better understanding of success metrics.

6. Co-creating content and events with other brands

A lot of stress is now being given on partner marketing where two or more brands come together for marketing efforts. This is done mostly between complementary and non-competing products. Collaborative marketing allows better use of resources as it focuses on sharing. The output is better content, wider exposure, and higher engagement with the audiences. Some of the co-creation opportunities include webinars, white papers, and research.

7. Understand and prepare better for privacy regulations

Data privacy and B2B marketing are related more than you think, especially for the organizations who are in some way doing business in the European Union. With the coming of the General Data Protection Regulations (GDPR), this has become more important. The impact is significant on B2B tech firms as not complying with these may lead to regulatory risks.

With the rapidly changing landscape of demand generation, it always hard to forecast the trends. However, the organizations that are actively engaged in improving their strategies will be performing the best. Adapting to changing trends and times is the need of the hour. Therefore, the most successful demand generation techniques are the ones that are in line with improving technologies, increased demand for better content, and compliance requirements.

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B2B lead generation is the beginning of the sales process where the consumer starts to exhibit some interest in services or products offered by a business. Therefore, a lead is an individual or an organization that has the ability to become a customer. Lead generation can be understood as the initiation of the buying cycle. However, whether or not the prospect converts into a customer depends largely on how they are handled along the way, which is why it is important to qualify a lead before pursuing them.

Qualifying a Lead

Lead qualification parameters will be different for each organization. It is recommended that you must have a system that will help you to identify the potential of each lead and differentiate them accordingly. Here are some guidelines to help you qualify a lead:

• Define your customer qualities.
• Have a system in place to track their browsing behavior and conversations.
• Take a close look at hurdles that are preventing them from converting.
• Identify their preferred communication channels.
• Collect all the data at one place for better analysis and engagement.

What changes to make in lead generation strategy in 2019?

The era of digital marketing is upon us and every sunrise sees something new in the business landscape. The rate at which advancement is occurring has changed the whole marketing process and hence, b2b lead generation companies have to change their strategies too. Here are a few suggestions to help you stay at the top of your game in 2019.

1. Improve your communication strategy.

Marketing is all about how better you communicate. An effective lead generation process benefits significantly if you have a seamless communication process in place. The modern-day communication requires live interaction. A good tool to achieve the same is live chat support or video call or co-browsing facility.

2. Focus on Customer Relationship Management (CRM).

There is hardly any business in the modern world that is not using a CRM system. It is one of the vital requirements for any business to flourish today. CRM is a multi-layered system that makes it easier to track leads and opportunities. A typical CRM will include customer satisfaction, response, needs, loyalty, retention, and service.

3. Do not ignore email marketing.

Email marketing is one of the oldest forms of marketing and B2B lead generation. It is one strategy that has stood the test of time. Some marketers still consider it the most effective tool for acquiring and nurturing leads. Data accumulated over the time suggests the same. It is one of the best lead generation and nurturing tools and used together with a CRM, it brings exceptional results.

4. Organize speaking events.

Some industry experts believe that speaking events are the most effective psychological tool for lead generation. Therefore, it is suggested that you organize your own speaking event to interact with your audience. However, it must offer something of value like a new product launch, new changes to your brand, or some important announcements. Also, make sure you don’t take up much of others’ time.

5. Diversify your content marketing efforts.

Content is the basis of almost all your B2B lead generation strategies. Users only buy content that is well-researched and valuable. In addition to making your content informative and valuable, diversify the type of content that you create. This means you need to create more than social media posts or advertisements. Create webinars, videos, infographics, and slideshares.

6. Use support instead of sales.

Another effective strategy to improve your lead generation efforts is to replace the sales by support. For instance, instead of sending promotional content, choose co-browsing and help your customers make an informed decision. This strategy has proved to improve sales statistics considerably.

It is believed that a good lead generation strategy is not what you do but how you do it. It is very important to stay updated and keep upgrading your tactics to achieve the desired results. We are in an era when you need to shift your focus from business needs to buyers’ needs. Once you are able to understand and fulfill the needs of your customers, your business will expand. For more insights, get in touch with us.

Expert-Approved B2B Lead Generation Strategies · According to research from the Content Marketing Institute, 85% of B2B marketers say lead.In marketing, B2B lead generation is the act of identifying and initiating an interest of potential customers