The most successful companies have a very firm grasp on not only the products it sells, but the demographics of the consumer, what other businesses are likely to show interest in the products, and also where these individuals are located. This information might simply come from trial and error through previous marketing campaigns. How ever the information is obtained, it can eventually be used with a process known as demand generation. Essentially, this is a targeted marketing approach that drives interest towards a company's products and services. Using this kind of demand generation has evolved from traditional marketing, as it already takes previously held knowledge on the desirable demographics and tantalizes the other business or consumer with the product and services itself. It works as a carrot dangled out in front of the horse, leading the horse to the desired destination. In the business world, this final destination is a sale or contract agreement.
Inbound marketing uses several different practices to generate qualified B2B leads. This is done through a combination of search engine optimization (SEO), viral marketing, email marketing, social media marketing and pay per click ad marketing. Now, it might take experimentation in order to determine which method works best for the company itself. Just looking at what ads are working the best can point a business in the best marketing direction. However, inbound marketing brings the customers in, where as the older, previous marketing method, outbound marketing, requires the company to go out, after the consumer, which is often much more costly.
Demand generation is simply the next step in the evolution of any marketing practice. With Lead generation best practices, it allows any company to find the best leads and to utilize these best leads. Essentially, it cuts down the cost of marketing while improving upon the return on investment. Few other lead generation best practices are going to do this, which is why it is the logical next step, and why every business needs to take advantage of this method.
Demand generation creates the demand in the consumer, and through inbound marketing analytics, the company can measure the total return on investment, look at what ads are working the best, what products are proving the most popular and how the consumers are reaching the business. This way, with the combination of demand generation and inbound marketing, the company can continue to evolve its marketing strategy to increase total sales.
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