B2B Demand Generation Tactics For Business Growth
Your business has stalled and you are looking for new marketing ideas to generate revenue. It is becoming harder and harder to find new leads and generate demand for your products or services. You have tried what seems like every demand generation tactic in the book, but the results are the same. Your demand generation tactics continue to fail to produce results.
You also know that demand generation is essential to your business. If your business is not generating demand for your products or services, you will not be in business for long.
Let’s take a look at some demand generation tactics that you can try to get your business back on track.
Direct Mail Is Not Dead
Yes, direct mail continues to get beat up and made fun of. “Direct mail is not as effective as other forms of marketing.” However, direct mail can still be very successful at driving awareness of your product or service. If you have a new company or are trying to gain penetration in a new market, direct mail could be a great outlet for your company.
If you want to really increase the conversion of your direct mail, integrate mobile marketing tactics like text marketing. Direct mail can still be very beneficial for your business, just make sure your direct mail is part of your holistic marketing strategy.
Okay, networking is not dead. However, if you are going to use networking as a demand generation tactic you need to be in it for the long haul. Networking is not a once and done thing. Networking takes a great deal of time to build relationships and trust with your networking group.
One of the hardest things about networking is finding the right people at the right time. Not everyone needs your product or service, right away. So it really comes to finding the right people that will help your network and be successful. Networking is a great long-term demand tactic that you should be using.
Video Marketing For Better Engagement
Okay, I know what you are thinking. Video marketing is for the B2C company. There is no way that top-level executives are going to be watching videos. Right?
According to recent research, 75% of business executives watch work-related videos at least once per month. Further, 54% of senior-level executives share work-related videos with colleagues at least once per week. Finally, websites that include video have on average an extra 2 minute dwell time, than sites that do not have video.
Video marketing is truly a great way to engage with your target customer. If your company has a market segmentation strategy, as it should, it would be advised to create videos for each segment to increase the chances of conversion. Videos will help your online engagement and generate more demand for your products or services.
Blogging For Business
Blogging for business is the tried and true demand generation tactic that both B2B and B2C companies continue to use. Blogging is a great way to get found online and bring awareness to your company. The more your company blogs the more opportunities you have to get found online. Companies the produce 16+ blog post per month see nearly 3.5x more traffic than the companies that blog 0-4 times per month.
Blogging is the best way to establish your company as a leader in your industry, drive more traffic to your website, and generate demand for your products or services. Blogging is a great small business marketing idea that will not break your budget.
Blogging for business is great, it will drive more traffic to your website and it will generate demand. However, one of the demand generation tactics that is becoming more and more important is the ability to create interactive content for your website.
Interactive marketing content is a one to one marketing process that reacts and changes based on the actions of individual customers and prospects. This ability to react to the actions of customers and prospects means that trigger based marketing is dramatically more effective than normal direct marketing.
Through marketing automation, online surveys, video, and dynamic websites your company is able to create a unique experience for every visitor to your website.
Localized Landing Pages
Does your B2B company need to generate demand in certain geographic locations? Are sales hurting in Phoenix, Arizona or Sacramento, California? Well, your demand generation tactic in these areas would be to create localized landing pages for these areas.
These landing pages can be by a zip code, city, state, or whatever the geographic location that you are focused on generating demand. These pages should be unique to each other. So maybe you place some facts about the geographic location or show how your product or service can be used in that city, state, or neighborhood.
The goal with these localized landing pages is to increase the awareness of your product or services in the areas you service. This demand generation tactic can be best serviced for expanding into a new geographic location.
eBook, Whitepapers, and Case Studies
Does your company have valuable information or can create valuable information that your target customer would want. This content could be an eBook, a whitepaper, or a case study. This content is something that goes beyond the standard blog post, it is more valuable.
This information should be so valuable your audience would be willing to pay for it. However, you are giving it away to generate demand and leads for your business.
Part of your demand generation strategy should be to promote this content through your blog, social media, and even paid advertisement. The more valuable the content, the more leads your business will generate.
Social Media Engagement
You can not dismiss social media anymore. Facebook has over 1.5 billion active users. The odds are that your customer is using social media. Furthermore, 53% of active social media users recommend companies and products through their social media channels. So, there is really no reason not to use social media.
However, it is not good enough to just post updates. Your social media marketing strategy must add value and supplement your inbound marketing strategy. Further, your social media strategy must engage with your audience. Start by asking questions and responding to post and comments.
Remember, it is called social media for a reason.
Social Media Ads
Okay, social media continues to change and ads are going to have to be part of your social media marketing strategy. I know, the days of free organic reach on social media are gone.
Here is the good news. Many social media platforms, such as Facebook, have so much demographic data on every user, you can target just about any target market. If your company has a customer segmentation strategy, you will love Facebook ads because you can set up different ads for different customer segments.
Yes, I hate paying for ads on social media as much as the next guy. However, social media ads will grow your audience and social media ads will grow your business.
Just like social media ads, Google AdWords is a fantastic way to gain traction in your niche market. Knowing how your customer segment is searching for your products and services, you can generate ads that target your exact audience.
Again, this is going to be a paid part of your overall marketing strategy, but marketing is not free. It never has been and never will be.
Compare Your Products With The Competition
Do you work in a competitive environment? Do you have a product offering that your competition does not? Let your audience know this. I am not saying you run a “dirty political campaign”, but show how your offering stacks up against the competition.
Compare your products or services against company A and company B. Never call your competition out but make it known that you have better solutions to the problems your customer is asking.
People like quick charts that compare 2-3 options. Use this chart to show the value you are going to bring to the end customer.
Bonus Tip: Create An Inbound Marketing Strategy
Okay, inbound marketing is here to stay. There is no getting around it. Inbound marketing should be the backbone of your overall marketing strategy. Inbound marketing is a marketing tactic that focuses on attracting customers to your website through valuable content. You guessed it, this blog post is part of our inbound marketing strategy.
The reason inbound marketing is so important today is that it is the only marketing tactic that does not interrupt your customers. Think of radio ads, television ads, or social media ads. Do you really want to see these ads?
No, so inbound marketing focuses on creating valuable content that your customer segments want. It does not focus on the interruption of your customer segments.
Get More Out Of Your B2B Demand Generation Tactics
Okay, by now you have some new demand generation tactics to amplify your marketing. These are not marketing trends that are going to be here one day and gone the next. These are marketing tactics that are going to help you grow your business.
So, the obvious next question is how do you use these demand generation tactics and achieve the highest return on investment? I am glad you asked. We have 4 ways to get more out of your demand generation tactics.
Know Your Customer
I cannot stress enough how important it is to know your customer. Call it what you want, your customer persona, target customer, or your Uncle Bob. The point is you need to nail your customer segmentation strategy and really know who your marketing is for.
It is so much easier to create great marketing that focuses on someone you know, not a wild guess. For example, I wrote this post for the business owners or marketing managers that are struggling to generate new leads and new revenue sources. For those of you reading, I hope I accomplished my goal.
Get to know your customer deeply. Get to know where they gather their information, what questions they have, and most importantly how your products or services fill a void in their life. Answer those questions and you will not have a demand problem. You will have a bandwidth problem.
Create Content To Move Your Customer Through The Sales Funnel
Okay, you know your customer and everything down to their shoe size. Now create content that moves your customer from the research phase (I know I have a problem) to the solution stage (picking your business to solve their problem).
Use different demand generation tactics for people at different stages. For example, if your target customer is just doing their research you may have to pony up some cash and run some ads. If your customer is closer to the purchase, your blog might be enough.
The point is simple. You cannot create one piece of content to move the customer from the research phase to the purchase phase.
Note: This is one of the biggest benefits of marketing automation. Moving the customer through the sales funnel.
Promote Your Benefits, Not Your Products Or Services
Okay, this might hurt a little bit. The main reason your marketing is not working is your marketing mentality. Most marketers and business owners, even experienced ones, rely on the product and services for marketing purposes.
I have news for you, your customers do not care about your products or services. They care about how you and your company are going to solve their problems. Focus your marketing on the benefits you and your company can provide to the end user. Not the product itself.
They say telling stories sell more product. Well, that is true because stories explain the problem and provide a solution. It is really that simple.
Execute – Get Work Done
Over the years, I have helped numerous business with demand generation. One of the most common mistakes I see companies make is failing to execute. General Patton said it best:
“A good plan violently executed now is better than a perfect plan executed next week.” – George S. Patton
If you are looking to improve your business and generate more demand for your company, stop talking and start executing. The more you do, the closer you are to your goals. Put a plan in place, execute, measure your results, and pivot as needed. Stop talking so much and start doing some real work. You will thank me later.
Measure Your Results
Not measuring your demand generation tactics is the biggest mistake your company is making. Yes, the biggest. You are spending time, money, and energy on your demand generation tactics and you do not know what is generating revenue? No wonder you are looking for new ways to generate demand for your products or services. You have no idea what is going on.
Your company should be using closed-loop analytics. I know what you are thinking. Yikes, this sounds like something way over my head. It is really not that complicated. Here is the HubSpot definition of closed-loop analytics or closed loop marketing.
Closed-loop marketing is marketing that relies on data and insights from closed-loop reporting. “Closing the loop” just means that sales teams report to Marketing about what happened to the leads that they received, which helps Marketing understands their best and worst lead sources.
Demand Generation Tactics Final Thoughts…
Okay, here is how your company is going to generate more demand for your products and services. These 10 and a bonus demand generation tactics will help your business grow and find new customers. If your company does not have a demand generation strategy, take 1-2 of these strategies and get to work.
There are b2b demand generation tactics that you can get started with right now. Like blogging. So get there and write your first blog post and leave the link in the comments below. That way everyone that reads this post can see your work.