Crafting a World-Class Demand Generation Engine for Your B2B Company

Introduction

In an ever-competitive business-to-business (B2B) landscape, demand generation has become the cornerstone of sustainable growth for companies of all shapes and sizes. Demand Gen. refers to targeted marketing activities that raise awareness and create a desire for a company's products or services –we’re all trying to do this, but how do we do it effectively? Building a world-class demand generation engine is no small feat, but the rewards, from higher brand visibility to increased market share, make the effort worthwhile. This post will guide you through creating your very own demand generation strategy. Tread carefully however, it’s not easy to do this right, but we’re here to help you each step of the way.

#1: Understand Your Target Market

The first step in building a world-class demand generation program is to gain a deep understanding of your target market and the participants in that market. This involves thorough market research, developing comprehensive buyer personas, and understanding your audiences’ pain points and needs (we at Goodbrand love the Jobs-to-be-Done method). Utilize tools like surveys, customer interviews, and competitive analysis to gather insights. An in-depth knowledge of your audience is the bedrock that all successful demand generation strategies are built on, so don’t skip this part.

#2: Design and Implement a Multi-Channel Strategy

We’ve all heard the phrase “multi-channel”, but what is it?

A successful multi-channel marketing strategy is a comprehensive approach to reaching and engaging with your target audience across multiple marketing channels, both online and offline. It involves coordinating and integrating various communication channels to deliver a consistent and seamless experience to your customers. Here are the key elements that contribute to a successful multi-channel marketing strategy. 

Once you’ve developed an understanding of your target market, the next step is to design a multi-channel strategy that engages your target audience and delivers consistent brand experiences across different channels. Today's B2B buyers are sophisticated, operating across various platforms and channels. As such, your demand generation efforts must reflect this reality. This may involve a combination of content marketing, email marketing, SEO, SEM, advertising, events, and webinars. It's crucial to find the right mix of channels that resonates with your target audience and supports your overall business objectives.

Remember that a successful multi-channel marketing strategy is not static; it evolves based on customer feedback, market trends, and the effectiveness of each channel. Regularly assess your strategy's performance and adapt it to ensure you're effectively engaging your target audience and achieving your business goals.

Once you’ve mapped out a multi-channel strategy….

#3 Invest in High-Quality, Value-Driven Content

Content is king in the realm of demand generation. High-quality, value-driven content not only attracts potential customers but also nurtures leads and fosters brand loyalty. This content should be designed to educate, engage, and excite your audience about your product or service. Todo this effectively, create a robust content marketing strategy, and leverage various formats like blog posts, whitepapers, case studies, videos, and podcasts.

This may seem overwhelming, but the most important part is to just get started. Start by writing a blog post that adds value to your potential customers and don’t try to “oversell” your product or service. This allows you to build trust with your future customers and develop a connection. Make sure to understand their pain points and try to address some of them in your content. Some great resources on how to get started can be found from the Content Marketing Institute.

#4 Leverage Marketing Automation and CRM Tools

In today's digital age, using marketing automation and CRM tools is non-negotiable for successful demand generation. These tools allow you to automate repetitive tasks, track and measure campaign performance, and nurture leads more effectively. They also enable you to segment your audience and deliver personalized experiences, thereby increasing conversion rates. Popular options include HubSpot, Salesforce, Pardot and Marketo, among others. We personally believe Hubspot is the top choice, especially if you’re an early adopter of marketing automation.

#5 Build a team

Building a world-class demand generation engine is tough, and having the right team in place is critical to the success of your program. Assembling the right talent, defining roles and responsibilities, implementing processes, and fostering a collaborative environment are just a few things to consider when getting started with assembling your team.

Start by outlining your vision for the demand generation team. Clearly define your objectives, such as increasing lead generation, improving conversion rates, and contributing to revenue growth. Establish key performance indicators (KPIs) to measure the team's success, such as MQLs(Marketing Qualified Leads) generated, conversion rates, and pipeline contribution.

Determine Team Structure:

Demand Generation Manager: Oversees the team, sets strategy, and ensures alignment with business objectives.

Content Marketer: Creates high-quality content for various stages of the buyer's journey.

Digital Marketer: Focuses on online channels like SEO, PPC, and social media to attract and engage prospects.

Email Marketer: Designs and executes targeted email campaigns to nurture leads.

Marketing Automation Specialist: Manages marketing automation tools, develops workflows, and optimizes lead nurturing processes.

Another approach is to hire an Outsourced Marketing Agency. The benefits of this is having a partner that has the experience of building your strategy as well as implementing it, without needing to hire a multi-person team. The ramp up period is usually quicker as well.

Goodbrand is a top choice if you’re keen on this route.

#6 Continuously Measure, Test, and Optimize

Building a world-class demand generation engine is not a one-and-done endeavor. It requires ongoing measurement, testing, and optimization. Implement KPIs to measure your success, such as leads generated, conversion rates, cost per lead, and ROI. Regularly test different strategies and tactics to see what works best for your target audience. Remember, optimization is a continuous process.

Start by listing out the KPIs that matter to you at each stage of the funnel. Here are a few examples:

Attract or Awareness:

·      Website Traffic

·      Blog Traffic

·      Organic Search Traffic

·      SEO Rankings

Engage or Consideration:

·      Content Downloads

·      Avg. Time Spent on Website

·      Newsletter Sign Ups

Convert:

·      Demo Requests

·      Sales Inquires

·      Sales Opportunity Creation

·      Contribution to Sales Pipeline

·      Sales

Delight or Retain:

·      Customer Retention

·      Customer Satisfaction

Conclusion

Demand generation is a potent weapon in any B2B company's arsenal. It's about building relationships and creating an ecosystem where your prospects naturally evolve into customers and advocates for your brand. By understanding your target market, implementing a multi-channel strategy, investing in high-quality content, leveraging automation tools, and continuously optimizing your efforts, you'll be well on your way to building a world-class demand generation engine.

By adopting these strategies, your B2B organization can not only generate demand but also position itself as a trusted leader in your industry. The journey to creating a world-class demand generation engine may be complex, but the benefits to your bottom line and brand reputation make it an endeavor worth pursuing.

We at Goodbrand help companies of all sizes get started or become more effective in implementing these and other marketing strategies to help you attract, engage, convert and delight your target customers. If you’d like to learn more about our services or would like to get some advice on how to implement successful demand generation at your company, contact us to schedule a call.

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