In the realm of B2B, executing a detailed, focused marketing strategy is vital for securing a steady stream of customers.
To do that, however, you need to demonstrate a thorough understanding of the process and its different components. One of the most notable misinterpretations that can frustrate businesses is the difference between lead and demand generation. On the surface, the two terms might seem interchangeable, but they hold crucial distinctions that will produce significant impact on your strategy, for better or worse.
Here is some information on how to separate the two concepts moving forward.
What Is Demand Generation?
Every business in the world thrives on supply and demand, and the latter could always use an additional push in your favor. Ultimately, demand generation focuses on generating awareness and interest in your company’s products and services.
People might not always be aware of the problem you’re attempting to solve, but demand gen will establish its gravity and make your business worth considering. Popular methods for creating demand include:
- YouTube videos
- Social media posts
- Event marketing
Not only must you introduce your solution, but you need to assert your expertise and authority on the topic. People won’t take you seriously unless you give them a reason to, and you have to do that organically. Focus on presenting favorable, yet factual, information and providing clear examples as to how you understand the data and utilize it to make your product superior.
Remember that information on a problem should center on the issue, and not necessarily how it makes you look. If you do it the right way, you’ll demonstrate genuine concern for your target demographic, which will build inherent trust in your ability to help them solve their business problem.
What Is Lead Generation?
So what are the differences between demand and lead generation?
The latter, as a subset of the former, focuses on capturing an audience’s information and utilizing it to facilitate the meaningful marketing of your product. When you execute successful demand generation, people will become more open to the solutions you have to offer.
Lead generation comes through getting people to act. Whereas demand gen provides typically free content like videos and blogs to drum up intrigue, lead gen uses “gated content” to gain a commitment of interest. Examples of gated content include:
- Free trials
- Contest entries
- Product demos
- Explanatory PDFs
These methods generally require that people sign up for email lists or provide contact information before receiving the content, hence the label “gated.” You’re providing valuable information that should help to solve a person’s problem — which you made them aware of in the first place. If handled correctly, you’ll then gain qualified leads — people who become genuinely interested in your solutions — who fall into different categories of readiness in a sales cycle.
It will then be up to your sales reps to manage these various categories and implement further aspects of your strategy to secure a personalized connection and, subsequently, a sale.
Trust LeadMaster to Assist With Your Lead Generation Efforts
If you successfully establish the distinctions of demand generation vs. lead generation, you’ll then need to focus on the process of lead management, which is a hefty task in its own right.
If you need lead management software to assist with your customer relations, LeadMaster produces a nationally recognized solution that offers automated tools, flexibility, affordability and ease of use. Try our software free for 30 days, or contact us today to speak with a representative and learn more about what we offer.