Demand generation and lead generation are two different processes: demand gen increases brand awareness and interest, and lead gen tries to convert this interest into customers. The post highlights fundamental differences between the two and suggests how an integrated strategy will ensure a company’s business growth.
Top vendors offering B2B demand generation services like The Global Associates work to increase a company’s brand awareness. They proactively engage with prospects showing interest in the company’s products or services in 2023 to increase interest in its offerings. A top-of-the-sales funnel activity, B2B demand generation aims at penetrating new audiences for your offerings through effective methods and techniques and then handing over the job of turning interested prospects into qualified leads.
Not different names for the same processes:
One must understand that demand gen and lead gen are two different processes with different objectives. Before forming your strategies, understand well the comparative strengths of demand generation and lead generation. This will help you know how they contribute towards the company’s revenue generation and business growth.
the objective of demand generation is to increase awareness of people have visited your website or product pages. The lead generation team works to turn the prospect’s interest into quality leads. The sales team later aims to convert them into paid customers.
This indicates that demand generation and lead generation are two different stages in the sales funnel, with lead gen taking over from demand gen at some stage.
As stated earlier, B2B demand generation occupies the top of the sales funnel. It’s less transactional than the process of lead generation. The endeavor of your demand gen team is focused on bringing interested people into your buying process. The aim is to target those who have visited your website or social media profiles for specific products or services.
It’s now the responsibility of the B2B lead generation team to encourage prospects with heightened interest in your brand or product to share their personal information, like their names, phone numbers and emails.
You are thus confirmed that these people are keen to know more about the product/ service they have been looking for. You cannot generate enough quality leads without having generated demand.
Demand generation is thus higher up the sales funnel, initiating the process of lead generation. Unless someone is aware of what you offer, you just cannot convert them into a qualified lead. However, we must understand that demand gen and lead gen are complimentary processes, they don’t counter each other. Having an integrated approach combining both will help you achieve great results.
Fundamental differences between lead and demand generation:
Let’s discuss here some fundamental differences between the two processes.
1. Different objectives
Demand generation companies work with the objective of building awareness about a company and the problems they specialize in expertly dealing with. Some of these people may not be motivated enough to buy from you at present, but this awareness will make them get back to you when they face similar kind of problems in future.
On the other hand, lead generation aims to convert this demand into qualified leads. You first identify the issues of the prospect, then develop a customized offer to help them solve their problems.
2. Different modes of engagement
B2B demand generation projects you as a thought leader in your industry, that builds trust with the prospects and establishes your brand value. The idea is to encourage them to engage more with you.
Lead generation generates awareness about value proposition, and shows your competitive advantages over those of others in the business. Demand gen process is less transactional than lead generation.
3. Different impact
You aim to educate your target audience about the products or services you are offering through demand generation. Powerful tools and strategies like creating free resources are employed to achieve this objective. You must satisfy the doubts and queries raised by the customer and measure their level of interest. It’s important to measure the impact in terms of interest generated so you are able to hand over promising customers to the lead generation team.
The aim of B2B lead generation companies in India is to take it to the next level. Lead generators use more explicit content to nurture the promising leads. This includes offering interesting free stuff to encourage the prospects to share their personal information.
Combining demand generation and lead generation:
One must strive to bring together demand gen and lead gen in order to ensure significant business growth for the organization. This becomes vital because of the fact that modern marketing has somewhat shifted to a more targeted approach. The task of generating demand has become more important, you just cannot be satisfied with just creating as many leads as possible.
Quality takes precedence over the quantity today. The present-day buyers carefully evaluate their purchasing options, they don’t mind taking their own good time. So, having a good B2B demand generation program is mandatory to make lead generation effective and inexpensive.
In addition, it’s essential to make the prospects well aware of your solutions to improve your conversion ratios in an effective manner.
About The Global Associates (TGA):
The Global Associates offers expert, affordable B2B lead generation and B2B demand generation solutions. You can ensure increased productivity of your sales team and sustainable revenue generation working with us. Our team of experienced sales and marketing professionals uses a strategic 360º approach which relies on Account Based Marketing (ABM). The Global Associates arms you with the right strategy, technology and operations to engage well with your target audience! We offer specialized services like: automated Drip Emails, scalable and technologically advanced platform for marketing automation, direct Email marketing, hyper-personalized Emails to maximize impact, LinkedIn outreach, and conversational marketing.
You should engage experienced Demand generation companies to increase demand and awareness of your brand and offerings to prepare the ground for the lead generation team. A good combination of demand generation and lead generation will help create and pump good quality leads into your sales funnel.