Operating a successful business requires more than finding leads and offering a sales pitch. Demand generation is the process of using data and metrics to analyze the consumer-seller relationship throughout the marketing and sales processes, from when the customer first learns about the brand through customer retention. By focusing on the entire process, your Startup will be able to market the most effectively and increase its rates of conversion.
Build a Strong Brand Identity
Before placing energy towards reaching out to potential clients and attempting to make a sale, Startups must develop a strong brand identity that will be recognized and appreciated by the customer. Your brand identity is the sum of how your brand looks, sounds, and makes people feel.
When establishing your brand identity, it is beneficial to begin by listing all of the aspects that make your business what it is. Ask yourself the following questions:
Focusing on the strengths that distinguish your business from competitors will allow your brand to reach more customers and ultimately incur more success.
Once you have a clear understanding of your own brand, it is time to make that awareness accessible for your customers.
In the modern digital age, social media is a key player in the marketing and sales game. Every brand, whether it is personal or professional, has a digital presence on social media platforms that allows the business to reach its current clientele as well as advertise to new potential clients. Some strategies for building a strong social media presence include:
Each day more people are registering for social media accounts, so the earlier your brand establishes its presence, the more influence it will have towards demand generation in the future.
Although a strong brand foundation will generate awareness for your Startup that will lead to revenue generation, the next step of demand generation is to utilize inbound marketing to reach more clients. Inbound marketing is a strategy in which brands help customers find the company by creating valuable content that attracts awareness to the business. Inbound marketing is educational and lead-generating, and there are several methods by which businesses can utilize inbound marketing during demand generation.
When we search a question or phrase on Google, webpages are presented back to us based on the keywords utilized in your search. Search engine optimization is the process of integrating relevant keywords from your field into blogs, articles, and other written content, that are likely to be searched by potential clients and will seamlessly attract readers to visit your site.
Utilizing a similar SEO approach and integrating keywords that your potential clients would be likely to search, paid advertisements are an effective resource to reach the eyes of people who can click and visit your page.
Another effective method of generating leads is by creating a gated product, such as an educational eBook, spreadsheet, or guide that provides value to the user. By downloading the content your business will gain access to their contact information, which provides the lead you can follow in the future.
Now that you have acquired leads, it is time to nurture the connection by following up with an email marketing strategy that can further educate and describe your product, with the goal of preparing them for the next stage in the demand generation funnel.
Only once a Startup has reinforced a clear brand and has warmed their leads through inbound marketing is it time to encourage their clientele to make a purchase. This step of the process is key to the success of the business, so it is necessary to be strategic.
Social proof is essential when it comes to building a trusting relationship with new customers. No matter how persuasive your demand generation strategy has been so far, including honest testimonials will increase lead conversion because humans are more likely to take a risk by the recommendation of others.
Ultimately, your customer wants to know why your product will change their life. Fact sheets or an FAQ section of your website provide potential customers with key information that can influence their decision to purchase. By providing clarity of what the customer can expect, they can more easily make an informed decision and buy the product.
The goal of operating a successful Startup is not to earn a new client one time – rather, it is to build relationships with customers, so they are loyal and continue to return. There are several strategies to employ that promotes customer retention.
Reaching out to previous clients with information about new products and discount codes is an excellent method to keep them informed and involved with your business. Showing your customer appreciation will encourage your clients to continue to support your business.
Increase the value of your product or service even more by providing your customer with tips, frequently asked questions, or guides that illustrate the benefits of your product. The educational supplement can remind clients how the Startup improved their life and why they should make another purchase.
Demand Generation Data Management
While the processes of establishing a brand, generating leads, employing marketing techniques, and encouraging a sale will overall improve the success of a business, the key to optimal Startup growth is to use data analytics metrics to identify the aspects of your business that are converting successfully, and the areas that can be improved. For more information about demand generation and establishing a successful Startup, check out more valuable resources by RevOps experts like TrailBlazer6.