Demand generation is significant for every business. When you begin, your target buyer does not know you exist and you need to work on generating awareness for your product/services. Demand generations are these set of strategies that help you expand awareness about your brand and drive demand for your product/service.
Let’s analyze 15 demand generation statistics that every demand marketer should know.
1. Marketers who document strategy are 538% more likely to report success than those who don’t and Marketers who document process are 466% more likely to report success than those who don’t.
Key takeaway: You must have a documented demand generation plan which fits into the bigger realm of your marketing plan. This helps in understanding what part of the strategy is resulting into a roadblock or deviation from prescribed goals. Bringing sales and marketing team together to draw a strategy that aligns with your sales funnel, nurturing strategy and customer journey is quintessential.
2. Successful marketers are 242% more likely to report conducting audience research at least once per quarter and 56% of our study’s most elite marketers conduct research once or more per month.
Key takeaway: You should conduct customer research at regular intervals and update buyer persona to maximize ROI by staying relevant to your audience in all your campaigns. What does your target audience want to read? Are you making a quality contribution? etc are important questions that are clarified by research.
3. 75% of small business owners see internet marketing as an or tool to attract new customer.
Key takeaway: Internet marketing includes a bunch of tactics including email marketing, social media (Instagram, Facebook, Twitter, LinkedIn), content marketing etc. You need to research your audience (the point above) to see what works best for them. Having the right mix of demand generation ideas will help you achieve the best results.
4. Email marketing has an average return rate of $38 for every $1 spent (EmailMonday)
Key takeaway: Emails remain the most favorite tool to generate leads for your product/services and staying on top of your audience’s mind.
5. More than 79% of the leads don’t convert into sales. The absence of lead nurturing is the leading cause of that. (MarketingSherpa via HubSpot)
Key takeaway: Demand Generation marketers should aim to create content that not only aligns with business goals (like, brand visibility and lead generation) but also nurtures the buyers. Businesses that can provide useful content along the buyer’s journey will always have an edge over others who cannot.
6. Recipients are about 14% more likely to open an email if it’s a part of a segmented campaign vs. traditional email. (Mailchimp)
7. About 49% of marketers are learning to drive content to align with the buyer’s journey. (LookBookHQ)
Key takeaway: It is important that content created is strategic (keeping in mind what your target audience wants to read) and fits into a lead nurturing scheme to convert maximum qualified leads (Marketing qualified or Sales qualified) into customers. According to Neil Patel, If brands can develop an effective strategy for creating content based on proper understanding of their target audience, they’ll not only drive leads but will also increase sales.
Must Read: Top Advantages of B2B Marketing Plan
8. 74% of companies that weren’t exceeding revenue goals did not know their visitor, lead, MQL, or sales opportunities. (Hubspot)
Key takeaway: For effective demand generation, you need to get the basics right and have relevant metrics, lead scoring systems or KPIs which define leads and success at every step (MQL, SQL, SAL).
9. Converting leads to customers is the top marketing priority for 70 percent of organizations in 2017 (HubSpot, State of Inbound)
Key takeaway: Success for demand marketers is no longer defined in terms of quantity of leads but terms of conversion of leads into customers. Marketers should take the responsibility to augment buyers journey through alignment with sales and customer support/success teams.
10. Improving the ability to measure and analyze marketing impact was a top demand generation priority for 61% of organizations in 2017 (Demand Gen Report)
Key takeaway: Any strategy without a performance review program will not fetch the desired results. Demand generation strategies should include smarter technology, KPIs and metrics which align with business goals. This will help you analyze the results and make necessary amends to the strategy
11. According to Dragon Search Marketing, 61% of consumers are influenced by custom content.
12. 47% of buyers viewed 3-5 pieces of content before engaging with a sales rep. (Hubspot)
13. Conversion rates are nearly 6x higher for content marketing adopters than non-adopters (2.9% vs 0.5%). (Aberdeen)
Key takeaway: Content is the king. You need to make content marketing a part of your demand generation strategy to achieve maximum ROI. Just like The Truckers Report, a forum for professional truck drivers. With great content, they were able to increase landing page conversions by 79.3%, leading to over 1,000,000 visits per month and over 4.5 million page views. Similarly content syndication can drive desired results as well. Neil Patel, when talking about content syndication, says – when we started republishing content from the Kissmetrics blog on sites like Entrepreneur and Search Engine Journal, we saw the referral traffic pick up (we got almost 9,492 visitors a month).
14. Video will make up 80% of consumer online traffic by 2020 (Animoto)
15. 71% of consumers are more likely to make a purchase based on a social media reference (Alist daily)
16. 48% of marketers planned to increase their influencer marketing budgets in 2017 (Linqua)
Quality demand generation which effectively merges with the lead generation goals remains a challenge for B2B marketers at every stage. These demand generation statistics give us an overview of the market and help us focus on areas that require our attention. Let us know if we have missed any important demand generation statistics. Comment below and let’s talk about it.