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How to Instantly Increase Demand Generation for Your Company
Some businesses have it made. They find a product or service that people are clamoring for and then supply it. The moment they enter the market, they have existing demand to tap. They don’t need to convince people to want what they’re selling. They need only let people know they exist and why they’re better than the competition.
This situation is in stark contrast to those companies out on the vanguard, defining and solving problems people aren’t aware they have. These solutions have no preexisting demand because they aren’t common knowledge. Most might want the product or service, but only after they’ve been introduced and had it thoroughly explained.
Potential customers first need to appreciate why the product or service is important to their lives, and then how you solve their issue. These businesses need to focus marketing dollars on generating demand as much as product differentiation. Because without demand you won’t make many sales, and your offerings will fizzle.
IS DEMAND GENERATION THE SAME AS LEAD GENERATION?
Before we go further, it’s worth addressing a common question. Demand generation is often confused with lead generation because the two practices share a similar goal — finding new customers — but they’re largely distinct practices.
Lead generation involves finding customers that are already looking for you. These are people aware of their pain points and are actively seeking solutions. Firms generate leads by capturing contact information at the various points where customers encounter your brand.
Demand generation deals with consumers oblivious to the problem your firm is trying to solve. These consumers aren’t looking for you because they don’t realize they need to. Firms generate demand by educating consumers and businesses about the issues facing them. They fuse factual accounts with compelling storytelling to create demand from thin air, getting people excited about something they only just learned about.
STRATEGIES TO INSTANTLY INCREASE DEMAND GENERATION
Generating demand involves educating potential customers about why they need you and then providing the right solution. Try these strategies to increase demand generation for your company.
Give Away Free Information
Most people need to be convinced to buy something. Getting them to take something free is considerably easier.
You can exploit this fact to begin raising awareness for your product or service. Consider the sorts of information your target audience needs in order to appreciate the problem you’re trying to solve and then develop creative ways to provide it.
Blog content is a great way to educate people searching for topics related to your product or service. You can also create and distribute white papers, informational brochures, and explainer videos. The goal is to educate your target audience, those people most likely to show interest in your offerings. Meet them where they spend time and provide the answers they need.
Provide a Free, Introductory Version of Your Product or Service
This strategy can be very effective if your service lends itself to existing as a stripped-down, yet functional demonstration version. Create a “freemium” version or service tier that omits advanced functionality, but still allows users to appreciate what you’re offering. The free offer brings them in and then your product or service sells itself.
Software and other apps work well with this approach, but the creative can find a way to introduce potential customers to any product or service.
You might offer new services using a “first day free” model, or something similar. Products can be sold with a trial period. Both of these methods allow people to try out an unfamiliar offering without having to commit money or other resources. Remember, demand generation involves educating customers why they need your offering, and using it is often the best way to accomplish this.
Target Likely Customers on Social Media
With demand generation, you don’t have the luxury of people actively looking for your product or service. Instead, you have to find them, and social media is an excellent platform. You’ll have access to hundreds of millions of potential customers, infinitely sliceable by demographics, firmographics, and other identifying information.
Take advantage of the hyper-targeted options available through Facebook, Instagram, Google, and others. Create ads geared toward the types of people most likely to find your offerings interesting. For example, if you sell a device that captures potable water from air moisture, you might target adventure seekers, outdoorsmen, boat enthusiasts, and other categories of consumers that might need drinkable water in a pinch.
Targeting likely customers avoids wasting resources on individuals or companies that will likely never have a need for your offering.
Use Facebook Lookalike Audiences to Find Customers Like the Ones You Already Have
Maybe you’re having a difficult time narrowing down a targeted niche audience for your product or service. Facebook can help with its Lookalike Audiences tool. It works well for companies that have already managed some penetration with their offerings and now want to find more people that fit their existing demand’s customer profile.
The idea’s simple. You feed Facebook a list of existing customers. Its algorithm finds your customers’ Facebook accounts and then scans them to learn what it can about their demographics, preferences, and relevant histories. Using this data, Facebook builds a profile and then finds new accounts that fit the profile, serving them your ad.
The benefits should be clear. Without any extra work on your part, your ads get seen by people similar to the customers you already have. If your offerings piqued your existing customers’ interest, it’s likely to be interesting to these new people, too, generating new demand.
Leverage Handwritten Direct Mail to Make a Strong Connection
Generating demand involves creating excitement as much as it does product knowledge. You can make a personal connection with a handwritten note that’s harder to accomplish through other channels.
With Simply Noted, sending handwritten notes is just a easy as sending traditional printed direct mailers. We’ve automated the production of high-quality, convincing pen-written cards using our network of ballpoint pen-wielding handwriting machines. Their styluses are driven by sophisticated smart fonts that recreate the subtle details that separate standard handwriting fonts from the real thing.
Use handwritten direct mail accounts to make a warm introduction to potential customers. They’ll appreciate the handwritten touch. More importantly, they’ll read your message. Compared to emails, handwritten direct mail enjoys a staggering 99% open rate.
Target an audience that would likely want your offerings if they understood them, and then introduce yourself! It’s that easy to increase demand generation for your company.