Unlocking Demand: Strategies to Create Demand in 2023
With the market getting increasingly competitive, simply capturing demand isn’t enough. To truly thrive, you need to also create demand. The ultimate winning strategy for B2B businesses is balancing both demand creation and demand capture.
Capturing demand isn’t just a matter of converting prospects, as many B2B marketers think. You need to get potential buyers interested in your solution to their problem.
And when they are, they will make the first move and reach out to you, they will book a demo, ask for more information, or anything else related to your products/services.
What is demand generation?
The goal of creating demand, also known as demand generation, is to provide your target audience with information that will help them understand why they need your product.
It’s important to understand that demand generation is not the same thing as lead generation.
When creating demand, you are finding prospects who are not yet aware that they need your product. You have to identify their pain points and provide them with the solutions they don’t know they need. You need to convince them that your solution is the one they need.
Strategies for creating demand usually include brand awareness and educational resources.
Brand awareness involves utilizing channels such as social media and paid ads to help people learn about your products or services, and to help them understand the problems your solutions solve.
Through educational resources such as blogs, use cases, and demos you want to help your prospects understand how your product/service compares to others, its unique aspects, and how it can be relevant to their specific industry.
You don’t want to wait for potential buyers to approach you, which is much less effective than putting in the work and actively creating demand.
How to create demand
Convincing your prospects that they need your solution can be challenging, especially with the quantity of content that is available online.
Let’s look at a few tips for how you can create demand.
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Content creation plays a significant role in demand generation. Focus on creating content that solves problems and adds value for your potential customers.
As consumers typically gather information online before engaging with salespeople, it's crucial to have reliable and informative content that anticipates their needs and provides well-prepared answers and solutions.
Establish yourself as an expert in your field to build trust with those interacting with your company.
Using an omnichannel strategy will maximize the impact of your high-quality content. Utilize various marketing channels such as blogs, in-person events, and social media to ensure consistent messaging across platforms.
Adapt your content to cater to your target audience and distribute it through channels where they are most likely to engage. However, make sure you also adapt your content to fit each platform.
Repurposing and redistributing your content will help broaden your reach and generate demand.
Not all leads will convert immediately, some need more time. So, instead of disregarding those that don't convert immediately, nurture those relationships to increase conversion potential.
Marketing teams should collaborate with sales and maintain communication through email, phone calls, social media, and other channels. And now that you have a high-quality content strategy, use it to further educate and nurture these leads with captivating content.
All in all, you need to create demand
Many companies only focus on demand capture. However, put simply, if you don’t create any demand, there will be no demand to capture.
So, the key takeaway from this should be that you need to create strategies that focus on both demand generation and capture, otherwise, you will be missing out on your potential.
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