Leads nurtured using demand generation strategies are five times more likely to purchase than those nurtured using conventional, outbound tactics. And just one type of demand generation – inbound marketing – has been shown to deliver 10 times the number of leads. Want to chase results like that? Apply these four smart strategies to increase demand generation and, ultimately, lead conversions.
Demand generation pulls together a wide swath of marketing strategies and content types – from inbound marketing to social media, newsletters, blogs, podcasts, videos and ebooks – with a specific goal in mind: to establish your business as a thought leader and influencer within your industry. Do it correctly (align that content with the needs and interests of your customers and prospects) and, over time, you’ll build trust and loyalty, and increase sales.
Four Smart Strategies to Increase Demand Generation and Lead Conversion
Every business is different, so only you can determine which marketing strategies will work best for yours. That said, the following four have been effective for many companies in increasing brand awareness, creating product need and relevance, and boosting lead conversion.
1. Embrace Content Marketing
According to the Content Marketing Institute, content marketing generates three times more leads than paid search advertising and, according to HubSpot, marketers who prioritize blogging are 13 times more likely to see positive ROI.
There’s a reason content is still king: it works. To increase demand generation, add more value to your content offerings using original data and providing unique insights that help your audience answer their most important questions and solve their most pressing problems.
2. Add Lead Scoring to Your Demand Generation Strategy
Lead scoring uses tested algorithms which prioritize leads based on a combination of demographic and behavioral characteristics. Each lead is assigned a certain number of points if they take certain actions on your website (like downloading key content or visiting a set number of web pages) or they share certain characteristics with previous leads who converted. Based on total points, leads can be prioritized, ensuring only the most sales-ready leads are sent to the sales team.
3. Feature Industry Leaders in Your Webinars
It takes a little work to persuade industry superstars to appear in one of your webinars, but if you can, it vastly increases your credibility and can be a critically important element of your demand generation strategy. When you partner with key influencers in your industry, you elevate your brand and accelerate demand. And if they happen to be the experts in their field and already on your payroll, that works, too!
For more great tips on making webinars a success, check out this article from Vidyard.
4. Offer Value Without Charging for It
At first, this may seem more like lead generation than demand marketing, since it’s typically free, gated content that is among the best ways to generate new leads. But whether it’s free content (including ungated content like blogs, podcasts, and videos), a free trial of a service, or a free tool, if what you give away helps prospects solve their problems, you’ll build trust in your brand. In turn, they will be more likely to return to your site for more of the same. If what you give is especially valuable, you might even create an army of brand advocates who will send you even more qualified leads.
Bonus Strategy: Ensure You’re Working with Clean Data
Before you begin or continue your demand generation strategy, ensure leads in your CRM system aren’t duplicated. Duplicates wreak havoc on marketing and sales teams, both by unnecessarily increasing marketing spend and creating frustrations about account ownership for lead follow-up. They can also skew campaign and sales forecasts.
Validity for Data Management features solutions that help you remove duplicate data throughout your Salesforce database and stop it from entering in the first place. You can also apply the Lead Conversion module of DemandTools to perform deduplication in a more specific context: by ensuring that your leads are not duplicates of existing accounts.
What makes the Lead Conversion module different for deduplication? As leads come in from multiple sources over time, some new leads are actually just new contacts at an organization you already have a relationship with. In other words, John Doe may come in as a new lead, but he works with Jane Doe at Company X, and Company X is an existing account. If John Doe were to be treated as a true new lead, it could create confusion among sales and marketing teams, as it can be difficult to distinguish between new prospects, mid-funnel leads, and existing customers. This module compares leads against accounts to show where those relationships exist, so the leads can be routed to the correct owner and nurtured appropriately.
In addition to DemandTools, there are three other solutions in the Validity for Data Management platform that can do wonders for improving lead follow-up, sales pipeline management, and, ultimately, help improve conversions. They are:
- GridBuddy, a solution designed to streamline sales processes, increase productivity, and improve the accuracy of sales forecasts. With GridBuddy, your sales team will have complete visibility into the sales pipeline and the prioritization of opportunities so they can take action quickly and ensure they’re meeting demand.
- BriteVerify email list verification services to ensure demand generation campaigns reach the intended audience, and sales reps can follow up on leads quickly. Verified email addresses help keep your sales teams connected with your customers so they can nurture leads, drive demand, and increase sales.
- Trust Assessments, which provides you with a data quality assessment of your CRM data so you can understand the impact it has on your business. With Trust Assessments, you get a clear picture of how bad data affects key areas of your business – revenue, campaign effectiveness, pipeline management, and customer retention – along with a remediation plan so you can start removing obstacles to success quickly.
Create Excitement Around Your Products and Services
Employing demand generation strategies like the ones outlined in this article and employing the right solutions to make those strategies a success can create measurably more excitement about your business and increased interest in your products and services. It can also help your business leverage a more unified marketing approach.
Given the wide spectrum of strategies associated with demand generation, it will be valuable to test and identify what works best for your organization, repeat your wins, and then reevaluate your strategies at least quarterly.