Demand Generation is a highly versatile and multifarious B2B marketing approach with longstanding results. Amidst ever-increasing competition and unfavourable market conditions, it has become the golden goose for B2B marketers. The best B2B demand generation agency is one that spearheads a strategic confluence of manpower, KOPs, and technology. An effective demand generation campaign thus seamlessly translates into high-prospect leads, a swift sales cycle, and higher conversions.
Focal Points of a B2B Demand Generation Agency
Before analyzing the role of a B2B demand generation agency in enhancing sales, let us understand its important areas. It would also be worthwhile to clear the air on the difference between demand generation and lead generation. In a Venn Diagram of demand generation comprising of several sets and subsets, lead generation is one of the key constituents. But there are several other vital aspects to invoke demand and create a positive awareness about your brand/offerings via:-
- In-depth analysis of the Ideal Client Persona (ICP)
- Content Marketing with high focus on Brand Storytelling
- Webinars, Virtual Trade Shows
- Social Media Engagement
- Precision-based Email Marketing
- SEO and Online Reputation Management
- Personalized Telesales Activities
- Field Marketing and Conversational Marketing Activities
Not just digital marketing, but even traditional marketing activities like email and telephonic marketing are significant for B2B demand generation.
How can a B2B Demand Generation Agency uplift your Sales?
B2B demand generation aims at reaching out to prospective clients, highlighting their inherent problems, and proposing solutions. As a highly methodical, data-driven, and precision-based marketing approach, It ca can uplift your sales in the following ways:-
- Accentuates Brand Awareness– Rather than resorting to outright, pushy selling, demand generation adopts inbound marketing techniques to propagate brand awareness. When your target audience is self-aware of their problems, they already have a positive brand perception. So they are more likely to listen to you and opt for your offerings.
- Qualified Leads are prioritized– Any trustworthy B2B demand generation agency will give primary importance to your Ideal Client Persona. From the very outset, there will be no time or resources allocated towards low-quality leads that don’t match the ICP. This makes the entire approach much more value-added.
- Low Marketing Investment– Traditional outbound marketing campaigns focus heavily on paid ads and obtrusive selling. The ROI on these is usually never up to the mark. On the other hand, inbound marketing techniques that constitute B2B demand generation are subtle. They cost much lesser than paid campaigns and yield better results in the long run.
- Well-Suited to the B2B Sales Funnel- The postulates of it are in direct compliance with the requirements of any B2B business model. While the B2C marketing approach is largely impulsive, trust-building and cementing client relations benefits it.
- Higher Coordination Between Sales and Marketing Teams- The core operating principles of demand generation entail that the sales and marketing teams perform their roles in complete coordination .Throughout this, there are chances that many valuable leads may get lost.
Pay Attention to these Crucial Demand Generation Metrics
For any B2B business to invest in demand generation (in-house or outsourced), periodic monitoring of these metrics is necessary:-
- Closing Monthly Percentage (Number of Leads Closed upon Total Number of Leads)
- Percentage of Funnel Conversions
- Sales Velocity (Average Length of Sales Cycle)
- Marketing ROI
- Average Customer Lifetime Value
To Sum Up
Conventional Lead Generation has always focussed on the quantification of leads. As long as the monthly targets (in terms of the number of leads acquired) were met by the marketing department, they were good to go. The onus was put on the sales team to follow up, nurture, and somehow convert them. But the biggest loophole was that most of these leads didn’t match the ICP and were unlikely to convert. An experienced B2B demand generation agency is capable of replacing this flawed process with a long-term, effective, and consistent one. Demand generation aims at creating a steady flow of marketing qualified leads (MQL) that have a high likelihood of converting. Nurturing them from the ‘epiphany phase’ to the ‘awareness stage’ is no doubt a gradual process. But once they are engaged and educated effectively, their quick sale funnel transition ensures unanimously high sales.
Click here for more interesting articles