What is Demand Generation?
From our perspective, Demand Generation is a holistic approach to the process of converting a prospect into a customer, in concert with the efforts of your sales force. Demand Generation is as much a philosophy as anything. Once you've embraced the idea, you can consider the strategy and supporting tactics.
How does Demand Generation fit with Branding efforts?
At its core, we think marketing has two functions – Branding and Demand Generation. Each supports and fuels the other and the two shouldn't be viewed in isolation. In challenging economic times, a company may choose to shift the balance of their efforts toward Demand Generation, but the value of Branding to support these efforts can't be overlooked.
What does Demand Generation include?
Anything you do that utilizes marketing tools to help prospects move through the sales cycle. So, this includes traditional marketing communications tools like advertising, direct mail, online, literature, and trade shows, but it also includes "connecting" facets like call centers, CRM (and other related) software, and the strategy that underlies and unites it all.
Are most companies making one significant Demand Generation mistake?
In our experience, yes. The most common challenge we see is companies marketing "in isolation" and not considering how the pieces – from the creative story to capturing and measuring meaningful metrics – fit together. Many organizations we talk to have the tools and tactics for successful Demand Generation, they're just not utilizing them in a cohesive way.
Why is Demand Generation so critical now?
In a difficult business climate, careful consideration of the ROI of your marketing efforts is crucial. You need to do more of what works, and less of what doesn't. A Demand Generation strategy is the way you can do that. Or, put in a more earthy way, "Stop doing stupid stuff…".