Demand generation and lead generation are two of the most important aspects of any successful marketing strategy. However, many people don’t know the difference between the two. This article will define both demand generation and lead generation, and then explain the key differences between them. Finally, we’ll discuss how your marketing strategy should differ depending on whether you’re pursuing demand generation or lead generation.
Definition: Demand Generation vs Lead Generation
What is Demand Generation?
Demand generation is the creation of demand for a product or service. It’s about raising awareness and interest in your product or service, and getting people to see it as a solution to their problem. Demand generation is typically done through marketing activities like content marketing, thought leadership, public relations, and social media.
What is Lead Generation?
Lead generation is the process of converting leads into customers. Once you’ve generated demand for your product or service, you need to focus on lead generation to turn that demand into actual sales. Lead generation activities include things like lead capture on your website, lead nurturing, and lead conversion.
So, what’s the difference between demand generation and lead generation?
Here are the key points:
– Demand generation is about creating demand for your product or service. Lead generation is about converting that demand into sales.
– Demand generation is typically done through marketing activities like content marketing, thought leadership, public relations, and social media. Lead generation activities include things like lead capture on your website, lead nurturing, and lead conversion.
– Your demand generation strategy should be focused on raising awareness and interest in your product or service. Your lead generation strategy should be focused on converting leads into customers.
Demand generation examples
The main goal of demand generation is to raise brand, product and solution awareness for your customers.
Brand awareness is the ability of potential customers to identify your product or service when they see it. It’s about getting your product or service top of mind, so that when people are looking for a solution to their problem, you’re the first thing they think of.
Brand awareness is typically achieved through marketing activities like:
Social media
You can create brand awareness for your product or service by sharing content on social media that speaks to the audience. By reaching a large number of people, you are raising their interest in what it is about which will increase demand and popularity with potential customers!
I’ve been a small business owner for years, and I can guarantee that one of the best ways to promote your product or service is through social media. By sharing content related to what you sell on Facebook, Instagram, Linkedin (or others) people can see how amazing it would be if they bought from us!
Videos & webinars
A successful brand awareness marketing strategy should include creating content that potential customers want. Which is why we recommend video as one such method. In particular for brands looking at raising their own brand awareness by getting noticed across multiple platforms such as YouTube, TikTok, Linkedin and more.
With short captions alongside beautiful visuals added into every shot; these types of posts can easily catch someone’s eye with their ability to entertain while being informative (as all good info deserves attention).
Podcasts
When you want to create brand awareness, nothing beats a good podcast. Podcasts are informative and entertaining so they’re perfect for sharing on social media!
The best part about them? You don’t have be worried about keeping up with the latest trends in technology or marketing – all that matters is telling your story through audio well enough.
People love stories, and if you can tell yours in an engaging way, you’re sure to get potential customers’ attention.
Lead generation examples
The main goal of lead generation is to transform visitors into leads (and hopefully customers). Since we need the person to provide their contact information, best lead generation campaigns offer something in return (an eye for an eye, so to speak).
Lead generation is most effective when paired with resources like:
Checklists
When you offer a free checklist to potential customers, you’re providing them with a valuable resource that will help them learn more about your product or service. But, most importantly, the customer will be able to identify any problem areas that they may have. And as a result, they are very likely to come to you for the solution.
Ebooks or PDF’s
Ebooks and pdfs are a great way to provide valuable information to potential customers. This gives them the opportunity to learn more about your product or service and see how it can help them. They can also be used to upsell or cross-sell your products or services and build long-term relationships with your customers.
Webinars
Webinars are an excellent lead generation tool. They let you show your potential customers how the product or service you provide will solve their problem, which makes it easier for them to take action and become paying clients!
Free courses
If you’re looking for a way to get leads and interested customers, a free course is the perfect solution. Not only will courses help people find out about your product or service (which means they’ll be able solve their problem), but also by being generous with information in these resources, you show that there’s nothing more valuable than time!
Should you focus on demand generation or lead generation?
Depending on your business goals, you may want to focus more on demand generation or lead generation. However, the most successful businesses use a combination of both strategies.
If you’re not getting a steady stream of traffic to your website, it may be more beneficial to focus on demand generation first. Once you have a reliable amount of traffic, you can focus on lead generation.
In the long term, by pursuing both demand generation and lead generation, you’ll be able to create a steady stream of leads that you can then convert into customers 24/7.
Improve Your Demand Generation & Lead Generation Marketing Campaigns
Do you need help with demand generation and lead generation? We offer free consultations to business owners and marketing executives. Contact us for a free consultation.
