Is it your end goal to attract and convert potential customers? Of course, it is! Then, it's crucial to have a strategic demand generation framework in place. A B2B demand generation plan delivers the following results:
In fact, having a well-designed demand generation framework can make all the difference. It helps you:
In this article, we'll dive into everything you need to know about demand generation frameworks. You'll learn why they're so crucial for businesses, how to create one, and how to measure its success. So, let's get started!
Note that these initiatives specifically aim to generate interest and engagement from potential customers, not to create sales opportunities in one go.
Learn more about Demand Generation Vs. Lead Generation
To achieve this, a demand generation framework typically consists of various components. These elements are essential to creating a successful framework that drives revenue and helps your business grow. So, let’s look at each element:
It is essential to align your cross-functional teams like sales, marketing, customer success, and operation teams while designing a demand generation framework.
After all, these teams work together to achieve the common goal of generating revenue for your business.
When aligned, these teams can work more efficiently and effectively toward generating demand, nurturing leads, and closing deals. Here are a few reasons alignment is essential:
You MUST stay ahead of your competitors in the contemporary and fiercely competitive sales and marketing landscape.
As such, having a consistent flow of quality leads is vital. And this demands building brand awareness.
However, it's not enough to merely capture a potential buyer's attention. A lasting brand awareness strategy should create a positive impression in their minds.
As a result, it multiplies their probability of trusting your company to provide solutions to their challenges or needs.
One practical approach to improve your visibility and credibility with buyers is to prioritize authentic customer reviews.
Genuine, recent reviews offer a brief, peer-provided summary of your product or service. Hence, they help buyers make informed decisions.
Individual reviews provide candid consumer feedback based on real-world use, free from marketing hype.
Collectively, customer reviews provide high-level insights that help buyers quickly filter through many available products.
To create a successful demand generation framework, understand your customers' actual needs. It requires thorough groundwork and research.
Therefore, lay out the groundwork well. Fortunately, there are some easy steps you can take:
To kickstart building a database for your outbound demand generation framework, you can check out our tried-and-tested methods:
The first step is identifying and compiling a list of prospects matching your ICP. This list can be created based on various factors such as demographics, industry, location, job title, company size, and more.
There are several tools and techniques to build your database:
Ensure your database is clean, accurate, and compliant with privacy regulations. It involves regularly updating and verifying the information in your database to ensure its accuracy.
You should also comply with data privacy laws like GDPR and CCPA to protect your prospects' personal information.
To maximize the effectiveness of your outreach efforts, you can use predictive analytics to identify high-quality leads and prioritize your outreach efforts.
Predictive analytics uses machine learning algorithms to analyze large amounts of data and predict which prospects will most likely convert into customers.
As such, it can help you focus your resources on the most promising leads and improve your conversion rates.
Now, the next rational step toward creating a high-impact demand generation framework is to plan the specific details of your campaign. Depending on your intended campaign’s nature, these details could include several small steps.
To help you, here are some specifics that you must address:
Having a set timeline will help you stay on track and measure the effectiveness of your campaign.
Ensure your content provides value to your audience and aligns with their interests and needs.
Set specific targets for each KPI and track progress throughout the campaign.
Each step unfurls the path ahead for your demand generation framework by giving you the next actionable item.
You should build industry thought leadership expertise alongside brand awareness to establish a reliable demand generation. Industry expertise means your brand is perceived as a leader in its field right from the first interaction with a potential customer.
This expertise creates a sense of trust with clients and sets the stage for meaningful conversations about customer pain points and their respective solutions. Here’s where a well-planned content marketing strategy comes in.
It delivers valuable insights at every stage of the customer's buying journey. It’s pretty effective in establishing your expertise. How do you get started?
Next up! Map out your potential demand gen campaigns by:
Then, prioritize your campaigns based on several factors:
By prioritizing your demand gen initiatives based on these factors, you can ensure you are investing your resources in the most effective way possible, building an effective B2B demand generation funnel.
Designing and polishing demand capture is essential to any demand generation campaign. Before launching a pilot campaign, reduce friction points. Examples of friction points include long forms and unavailable pricing.
To capture demand effectively, it's essential to define one demand generation strategy. This strategy could include factors such as:
To capture demand, set up an engagement threshold. Next, start tracking account engagement across multiple channels and your website. It allows you to identify accounts that demonstrate high interest in your product.
Another effective strategy is to implement a buyer enablement program. It involves creating solution-based content hubs to capture demand from warm prospects.
For example, an ABM (Account-based Marketing) content hub can attract potential customers who have already shown interest in your product.
Pilot campaigns are essential before launching a full-fledged campaign because they allow you to test and refine your approach before investing significant resources.
Plus, you can evaluate the effectiveness of your B2B demand gen strategies. Hence, you can make any necessary adjustments before launching a larger-scale campaign.
Before launching your pilot campaign, you must define your goals and ensure they align with your sales and marketing teams. It will ensure everyone is on the same page and working towards the same objectives.
To keep your pilot campaign manageable, define a small team of no more than two people. It will help you reduce KPIs and reallocate revenue targets so that you can focus on achieving your goals.
Focusing on one channel and program is essential when launching a pilot campaign. However, only try to do one thing in parallel, or you risk spreading your resources too thin and not getting accurate results.
To track the progress of your pilot campaign, create a clear timeline and leading metrics. It will allow you to monitor your campaign's success and adjust as needed.
By setting specific goals and tracking your progress, you can refine your strategy and improve your chances of success.
Document the process once your pilot has been successfully launched and gained traction. Then, create a system for maintaining and optimizing the campaign over the long term.
First, analyze the pilot campaign results and identify improvement areas. This may involve:
By carefully tracking and analyzing campaign data, you can refine the campaign and improve its performance over time.
Next, it's time to document the process and create a system for maintaining the campaign. It can include:
In addition to documenting the process, onboard a team member who can manage the campaign on an ongoing basis. You can have the following:
The key is to ensure someone is responsible for monitoring the campaign, making ongoing improvements, and keeping the campaign on track to meet its goals.
One critical component of a demand-gen report is attribution. It helps you understand how much credit each marketing touchpoint should receive for a sale or conversion.
To build effective demand-gen reports, include a mix of self and digital attribution methods. Digital attribution involves using analytics tools to track a customer's journey across different digital channels, such as:
This method lets you see which touchpoints drive the most conversions and revenue.
Self-attribution, on the other hand, involves asking customers how they heard about your product or service. This method can help understand how offline touchpoints, such as events or word-of-mouth referrals, impact your marketing efforts.
By combining both self and digital attribution methods, you can gain a more comprehensive understanding of the impact of your marketing efforts on revenue.
As such, you can make data-driven decisions about where to allocate your marketing budget and resources for maximum impact.
Launching and documenting new campaigns gradually is essential to consistently growing your demand generation efforts. This approach allows you to test and refine your strategies before scaling them up.
Here are some steps you can take:
If your demand generation framework doesn’t help you reach your goals, it could damage your business.
Without a brand awareness plan or buyer persona, you may struggle to attract visitors to your website or understand your audience. A poorly performing demand-gen framework can lead to:
You need to track key metrics to assess the effectiveness of your demand-generation campaigns. By measuring the metrics below, you can determine what is working, what is not, and where you need to make improvements:
These metrics will help you:
You must have the right tools in place to achieve the best results from your demand-gen campaigns. Here are some essential tools you MUST possess in your arsenal:
You must identify sales leads rather than collect leads to convert them into customers. Automation tools such as Autopilot can model, score, and nurture leads. Email marketing tools like Mailchimp can also help you nurture your leads.
While static content can effectively convert visitors, interactive content can further boost engagement.
Examples of interactive content include calculators, chatbots, quizzes, and surveys. In addition, interactive content via tools like Outgrow can generate more conversions than static content.
Running different types of giveaways, sweepstakes, and photo contests can drive engagement and demand generation for your brand. Platforms like Wishpond enable you to create contests on social media, blogs, websites, and mobile apps.
Hosting webinars and other online events can help build demand for your products and services. In addition, you can use tools like Akkroo to track leads and data across physical and digital channels.
Sending gift baskets, eGifts, and swag bags to leads can differentiate your brand and drive leads to your company. Sendoso simplifies this through its gifting platform and services, which have been found to generate a significant return on campaign investment.
Generating demand for your business is essential for its growth and success. Demand generation provides a structure to attract, convert, and track your target audience throughout the purchase cycle. This approach helps you understand what and who is required to achieve your objectives and identify relevant performance metrics.
Revnew offers a centralized platform for managing your demand generation efforts. Its comprehensive channel enables you to create a pipeline that engages, acquires, and retains customers. With Revnew’s B2B demand generation best practices, you can measure ROI quickly and use the data for internal evaluations and stakeholder presentations.
If you are looking for an excellent agency that provides demand generation services to enhance your demand strategy, Revnew is an ideal solution. To learn more, request a demo with us today.
Read More: How to Choose a Demand Generation Agency?