27th Jul, 2021
, , Designation
- A future-ready demand generation is the need of the hour for B2B enterprises
- Demand generation removes revenue generation woes through relevant branding, targeted engagement, and qualified lead generation
- Demand generation is a data-driven approach that aligns marketing and sales operations to drive measurable impact for B2B enterprises
Demand generation appeared as the most dominant trend in the market as 2020 came to a close. Enterprises increasingly adopted it to contain revenue losses as health and safety took precedence and markets closed. With the supply chain still recovering from pandemic shocks, businesses will continue with demand generation techniques in 2021 and beyond. However, demand generation techniques need to be re-engineered and made future-ready to maximize ROI for B2B businesses.
Let us look at how adopting an innovative approach to demand generation can drive success for B2B enterprises in terms of revenue generation and ROI.
How does demand generation eliminate revenue generation challenges of B2B businesses?
B2B products have a longer sale cycle than B2C products. Due to the complex nature of products and bigger investments, buyers thoroughly research and tread carefully before purchasing. Advertising and marketing tactics that work in B2C are not suitable for B2B products or offerings. Hence, digital demand generation can be used to address this need. It is a marketing strategy that assembles processes to generate awareness and demand in the market, reach prospective buyers, and propel sales. It involves the following key elements that fix revenue generation challenges:
Developing a promising brand presence
Digital B2B demand generation encompasses the creation of brand presence, value purpose, key differentiators, etc. It assists in creating a brand with recall value across different channels.
Recognizing the ideal customer profile
B2B demand generation identifies the ideal customer profile and helps reach them for future marketing campaigns.
Setting up thought leaderships
Setting up thought leadership through demand generation strategies can reflect the solution-driven approach of the brand and its strategic implementation.
Synchronizing sales and marketing
Demand generation supports collaboration between sales and marketing operations for increased efficiency and output.
Value addition for existing customers
Demand generation fosters strong relationships with existing customers. It creates opportunities for upselling and cross-selling of relevant products or services.
Entering new verticals
A dynamic demand generation strategy makes it seamless for enterprises to sell their products in new markets and verticals.
Developing a go-to-market strategy
Digital demand generation facilitates a go-to-market strategy for sales enablement. It allows enterprises to position their brand as per the unique needs of their customers.
Delivering a personalized customer experience is the standard engagement strategy across all industries. Demand generation drives targeted and personalized engagement campaigns for diverse customers through automation tools and data-driven processes.
Insights: Boost your revenue with top demand gen tactics
How does demand generation maximize ROI for B2B enterprises?
Through an integrated and stepwise fashion, demand generation allows marketers to expand funnels, get more relevant leads, and increase conversions. From creating a meaningful brand presence to sales enablement, it improves the ROI with strategic measures.
Boosts lead generation
Demand generation strategies boost lead generation through dedicated efforts to target high-stake businesses. Demand gen engines are complexly linked with how an enterprise operates. It helps identify the right customers for products and services by routing resources in those markets with more value propositions.
Data-driven decision making
Demand generation is a data-driven process that optimizes the efficacy of marketing and sales campaigns using customer data. Demand gen engines also streamline the planning, budgeting, and execution of all cost-intensive processes using an objective data set.
Owing to high-level personalization, buyer response to the campaign messaging and content is improved. Higher engagement with the campaign makes marketing and promotional strategies more impactful.
Demand gen programs drive a precise and measurable impact on new clients and revenue on existing clients. The B2B enterprises can easily measure results in terms of improved sales, identifying new and effective channels, platforms, and content.
Long-term customer relationships
With relevant messaging and targeted marketing, demand gen facilitates meaningful experiences for old and new clients. It fosters brand loyalty and brand value for customers with personalized and targeted post-sales communication.
In the end
Demand generation is a long-term jigsaw strategy that requires concentrated efforts. Enterprises are looking to double their efforts and build a pipeline in the light of new market orders. It is, however, important to note that demand gen is a dynamic tool that can drive growth or cause mayhem. If marketers don’t get all the pieces to fit together, the result could be a jumbled mess of marketing tactics. On the other hand, demand generation creates a cohesive and inviting brand environment that attracts, engages, and retains customers.