Blog Post

Demand Generation

7 Misconceptions about Demand Generation

Demand generation is a full-funnel approach that’s designed to provide information at the moment of need.

Demand gen is critical to success today in B2B marketing. It’s a strategy that builds brand awareness and demand for your products and services. Today, demand generation uses multiple channels and approaches with decentralized information used across platforms.

Despite the power and efficacy of demand generation, there are many persistent misconceptions. Here’s a look at 7 myths about demand generation and why they’re inaccurate.

Misconception #1: Demand Generation and Lead Generation Are the Same Things

People incorrectly believe lead generation and demand generation are one in the same. However, they are very different in scope and practice.

Lead generation is a much more basic sales strategy that’s focused on a singular goal: obtaining more leads. It’s a basic approach that’s designed to collect contact information from customers who might be interested in your product or service.

Lead generation takes a blanket approach to market to the masses. One example: using blogs or webinars to entice readers to leave contact information on a web form.

This is not to diminish lead generation. There are effective ways to garner more leads. Many businesses, impatient with the time needed to deploy demand generation, turn to lead generation instead.

Demand generation is a more comprehensive approach to sales and marketing. With demand gen, you will attract, convert and keep customers.

Demand generation is about nurturing relationships at each stage, as opposed to lead generation, which is more transactional. Instead of passing leads on to a sales team for follow-up, demand gen looks to meet prospects and customers where they are.

With demand generation, you identify what a customers’ needs are and provide solutions, whether it’s content, free tools, or product guides. These solutions are dependent on where a customer is in their journey. They can be personalized using data gleaned from the customer relationship.

Misconception #2: Demand Gen Is a Top-of-the-Funnel Activity

It’s a common misconception that demand generation focuses exclusively on the top of the funnel. Generating demand, however, is not just about acquisition. It’s about engaging and re-engaging customers.

Demand generation takes the long view. It’s about obtaining new prospects and converting those prospects. It’s also about reinforcing your brand and continuing to provide value throughout the lifetime of a customer’s relationship.

Misconception #3: You Can Control the Buyer Journey

Demand generation marketing is not about controlling the buyer. In fact, today, the buyer has more control over the customer journey than ever before.

Why? First, the expectations are different. Customers want relationships with the brands they use. They expect brands to know the extent of the engagements, their preferences, and their needs.

In addition, buyers today have lots of information available, including independent product reviews, message boards, and social media channels. These forums give buyers far more insights into your products and services and the ability to do their own research.

With buyers having information and freedom, demand generation is the right choice. You cannot control the buyer but you can be prepared to meet them where they are.

Demand marketing focuses on having high-value information available at every stage of the buyer’s journey. Creating great content and using your CRM to manage buyer engagements results in better outcomes for buyers and your brand.

Misconception #4: Demand Generation Is a Singular Approach

Demand generation is not a singular strategy to use for your marketing. Instead, it’s the collection of multiple marketing initiatives, across multiple channels.

These activities are coordinated, integrated, and driven by shared data. They also are evolutionary and iterative. If one approach is not working, such as search engine display ads, demand gen allows for rapid pivots. You can shift out of one strategy and try another.

The key is to develop a strategy that engages prospects and customers across channels. Social media, web, SEO, email, video, and other channels all factor into engaging your target audience.

The reason for this approach is evident. Your buyers do not operate on one channel only. Your marketing should not, either.

Misconception #5: There Are No Targets in Demand Generation

With its multi-channel approach, demand generation sometimes suffers from an assumption that targets are not necessary.

The opposite is true. You should use targets for each challenge used. Targeting likely buyers on the right channel at the time of need is the smart move. It leads to higher levels of engagement and higher conversion rates.

Setting these targets requires some work. You need to know who your ideal customers are. You need to understand when they will be looking for solutions and where.

Misconception #6: Content Format Is Irrelevant

Not true: Walls of copy rich in information and stuffed with keywords is the way to go with content.

Remember, the buyer is in control of the relationship. And your brand will not be the only one creating content.

You need to cut through the clutter and noise. That means creating content in the format that your customers want. Increasingly, customers are interested in content in different formats – infographics, videos, and podcasts.

The good news is that often you can repurpose content. A Q&A video with a product manager can be converted into a blog post. A new product announcement can be used to create a graphic that explains key features and enhancements.

Misconception #7: You Need Channel Specialists to be Successful at Demand Generation

Channel specialists are certainly valuable. They know how to effectively manage one channel and bring expertise and experience to your business,

However, they are just that – a specialist who knows one channel, albeit well.

Demand gen requires the use of multiple experts who understand the big picture. You need a team that can work together on strategy messaging, execution, and measurement.

Matter Made helps B2B SaaS businesses grow. Our demand generation, go-to-market, growth marketing, and paid media services help brands attract more customers and convert more sales.

To learn more about how Matter Made can optimize your demand generation strategy, contact us today.

Blog Post

Demand Generation

B2B (Business-To-Business) and B2C (Business-To-Consumer) are two terms that often come up in the growth marketing world. You’re likely already familiar with these terms. 

However, knowing the difference between B2B and B2C and knowing how marketing strategies are different for each is another matter.

Marketing to B2B audiences and marketing to B2C audiences require different approaches, and that’s what this article will delve into. You’ll learn how to build a marketing strategy that makes sense, whether your focus is on B2B or B2C.

Customer Relationships

The first difference in strategies is noticed in how customer relationships are approached. Digital marketing, in general, has a big focus on building relationships with customers, and the way this is approached varies between B2B and B2C strategies. 

While B2C marketing likes to zoom in on personal relationships, B2B marketing is less intimate and has what could be called a "transactional" focus. Building long-term relationships take the spotlight for B2B marketing strategies, and the attention is more sales-oriented in B2C marketing. 

Keep in mind that both require customer services and good lead generation to be fast and effective. A "Speed to Lead" approach is essential.

Branding

B2B marketing takes a very different stance on branding than B2C marketing does. B2B focuses on positioning, whereas B2C is more concerned with messaging.

For B2B, good positioning is what makes you stand out among the competition and attract your audience.  Positioning is about more than branding; it’s about perception. It encompasses various elements — from content marketing to branding and social responsibility.

On the other hand, B2C marketing is concerned with what your target audience thinks about you. What does your company stand for? What does it support? People who feel they can relate to your brand are more likely to buy from you. 

Ad Copy

Marketing strategies also diverge for B2B and B2C when it comes to ad copy. B2B companies need to take a professional approach, while B2C companies have the freedom to be more playful and emotional.

Successful B2B marketing ad copy should stick to terms that their audience is familiar with and avoid being frivolous. B2C ad copy should speak the same language as its target audience.

Audience Targeting

The way B2B companies approach audience targeting is also different from how B2C companies do it. To build effective B2B marketing campaigns, it’s important to find a niche and make that the focal point of all marketing efforts.

B2C marketing is more funnel-focused, and this funnel will consist of awareness, interest, desire, and action. A PLG (product-led growth) funnel can also be quite useful. 

Traditional marketing can come in handy but requires a good understanding of existing customers and proven ways to generate leads. 

Using marketing automation software (like HubSpot) can make audience targeting more effective and less frustrating, especially when trying to stay focused on results rather than the small things that can distract your marketing team. 

Sales Cycle Length 

The sales cycle length for B2B marketing is, in most cases, longer than it is for B2C marketing. This is because the decision and approval process requires multiple signatures, so potential customers might need more encouragement to take the final step and make a purchase.

More lead nurturing is required for B2B companies to get the sales they want, and user experience is an important factor here. If customers don’t get the attention they need, they’re more likely to move away and support other businesses. Customer service is a prime part of the B2B sales funnel. 

The B2C sales cycle often requires less input from salespeople, though this varies widely across industries and audiences. 

Emotional Investment

Generally, B2B marketing is far less emotional than B2C marketing because the customers are more calculating. They are driven by evidence of performance and numbers. B2B marketing, therefore, tends to be more information-focused.

B2C marketing calls for more creativity, entertainment, and emotional investment. Customers are more focused on achieving happiness or satisfaction and make more impulsive decisions.

Paid media campaigns can be useful tools for building emotional investment in both B2B and B2C marketing.

Marketing Channels

B2B companies and B2C companies have different marketing channels to choose from when it comes to their marketing efforts. For B2B marketing to work, the challenges of the audience must be addressed, as well as their needs and relevant interests. For this, Search Engine Optimization (SEO) is crucial.

Other channels that are fruitful for B2B include PPC (Pay-Per-Click) advertising, referral marketing, content marketing, email marketing, and social media channels.

B2C companies can use outdoor advertising, influencer marketing, traditional advertising, and digital marketing strategies. Search engines and social media also play a big role, with platforms like Twitter, Instagram, and Facebook being some of the most popular and effective for B2C marketing.

B2B, B2C, and Matter Made

Planning a B2C or B2B marketing strategy isn’t easy and shouldn’t be taken lightly. 

A well-defined strategy that has the right approach to branding, customer relationships, and audience targeting can take your company to new heights. 

Why not combine efforts with Matter Made? We have a team of expert marketing professionals who can help you build B2C or B2B marketing strategies that will see you rise above your competition. 

Interested? Let’s talk!

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