Two aspects of running a business, pulling prospects to your website and converting them into leads, can often feel the same for some business owners. Demand generation and lead generation are two strategies that attract and convert customers and are often used interchangeably despite being two different but similar practices. Each of these strategies has different purposes and should work in different ways to be most effective. Here are the differences between demand and lead generation.
The differences between demand generation and lead generation are vital to understanding how and when to use each tactic. Demand generation, also called demand creation, is a tactic used to generate or create demand for your products or services. The process helps you create interest and create awareness of your brand. In addition, it shows your audience how your products or services can help resolve their needs and desires. By generating demand, you and your online properties are attracting potential customers to your website, social media pages, and content in general.
Lead generation is different: it is the act of converting those potential customers who visit your website or pages into actual customers. It is persuading your target audience to provide some of their contact information that your sales team can use to nurture and convert them. This tactic helps build on your previous demand creation efforts and campaigns by encouraging your audience and users to take action.
People can often think that demand and lead generation are the same because each concept is quite similar. So to further help clarify the differences between the two, here are some examples of each tactic.
Demand creation typically involves tactics and methods where prospects are first learning about and engaging with your company and content, so some applications include the following:
Examples of lead generation content, on the other hand, are meant to nurture prospects through a sales process. This can include a simple form fill or phone call, or gated content that requires leads to provide some information to a business so that the company can nurture them directly, such as:
Lead generation-focused content may also be more in-depth and detailed than the types of content focused around demand creation and more tailored to the individual customer’s needs for more effective nurturing.
Although each marketing strategy has its differences in purpose and uses, both demand generation and lead generation ultimately serve the same goal. Therefore, you should integrate each marketing method and use them in conjunction. Driving potential customers to your site is just as important as converting them.
For example, suppose you write a blog on your website and promote it through your social media channels. That blog post speaks to your target audience’s needs and shows them how your product solves their problems. As people read the article, you are generating demand. The next time those users revisit your website, some may find another article that includes a call-to-action where visitors can provide their email addresses. When you get their email address, you have generated a lead to nurture along your business’s sale process and convince them to become paying customers.
The above example is just one of many ways you can combine demand creation and lead generation into your digital strategies. People browse and engage with companies through various channels. Everyone obtains information differently, such as some preferring written content and others preferring video. For this reason, you should utilize lead and demand generation efforts throughout all of your entire digital marketing campaigns, from video to social media to email to live events and more. Each method should work together to drive more sales and revenue for your business.
Do you need help with demand generation and lead generation for your business? VIEWS Digital Marketing has experience creating comprehensive marketing strategies that generate more traffic to your website and more qualified leads for your business. Our results with these inbound marketing tactics speak for themselves, as our clients have received significant gains in website traffic and leads. Contact VIEWS Digital Marketing today to develop a lead and demand generation strategy for your business.