14+ Demand Generation FAQs to make your Marketing Better
Demand generation isn’t as simple as it sounds.
It is a process of creating a desire for a particular product/service. According to Anne Fleshman, it starts with showing your prospects they have a problem that needs fixing, then it presents your business as the fixer.
In this post, we will discuss 14+ demand generation FAQs that we come across (with most clients).
1. What is demand generation?
Demand generation is all about driving the awareness of your brand and business. It is the strategy that gets your potential buyers excited about your company’s offerings
According to Hubspot, Demand generation programs can help your organization reach new markets, promote new product features, build consumer buzz, generate PR, and re-engage existing customers. Demand generation, however, is more than just a branding concept or early funnel marketing tactic. Demand generation programs are touch points throughout the conversion optimization and sales cycles.
2. Do you “need” to have a demand generation strategy?
One of the biggest mistakes that businesses make is to assume demand exists for their products/services. With millions of businesses, you cannot assume anything.
Always start with a detailed demand generation strategy.
3. Most awaited demand generation FAQ – What is the importance of having a good demand generation strategy?
Demand generation helps in capturing the attention of prospective buyers and build trusting relationships with them. A detailed and well-thought strategy helps in
- Increasing online visibility
- Connecting with the right audience
- Lead nurturing along the buyer’s journey
- Conversion optimization
And all this is extremely important for any business to grow and expand.
4. Is demand generation a one-time strategy?
This is one of the demand generation FAQs we love to get an answer. We also consider it the “make or break” for your strategy.
To begin with –
No, demand generation is not a one-time strategy. There are several processes and steps which need to be repeated at regular intervals to make it effective.
5. So, what are these processes which should be repeated?
For a demand generation strategy to work effectively, you need to continuously
- Evaluate goals
- Produce content or repurpose existing content
- Spread or promote content
- Keep testing your strategies
- Analyze data at regular intervals
- Follow best practices for demand generation
You can read about it in detail here – Repeating Demand Generation Activities
6. How is demand generation different from lead generation?
More than a demand generation FAQ, this is a confusion that exists in the mind of many marketers.
Demand generation and lead generation are very different. While the former concentrates on generating demand and driving awareness for your business, the later is focused on generating qualified leads.
You can know about it here – Lead Generation vs. Demand generation: What Marketers Tend to Confuse
7. Where does demand generation appear in the sales cycle?
Demand generation appears at the beginning of the sales cycle. This diagram will clarify the placement of demand generation strategy.
Source: Referral Saasquatch
8. What tactics and tools are used to generate demand?
One of the most common demand generation FAQs is about the tactics that really work.
Some of the most popular demand generation tools and tactics that always works are
- Content upgrades
- Research and Surveys
- Influencer reach
- Free tool or app
- Email Marketing
You can read more about it –
9. What are best practices or demand generation etiquettes a marketer should follow?
To begin with, a marketer should
- Build a strategy around every tactic
- Build a strong demand funnel network
- Implement a lead nurturing framework that maps onto the buyer’s journey
- Think from a buyers perspective
- Accept that mistakes happen and learn from it
You can read about them in detail here – 5 Basic Demand Generation Etiquettes Every Marketer Should Follow
10. How do we measure the effectiveness of a tactic?
Demand generation marketers follow different attribution models to gain insights into the effectiveness of a tactic. You can read about it here.
11. How do we measure demand generation results?
This cannot be missing from demand generation FAQs, can it?
There are several performance metrics, but the following metrics will help you obtain the right information
- Closing percentages
- Funnel Conversion rates
- Cost per Acquisition
- Cost per Lead
- Conversion to MQLs
- Lifetime customer value
- Tactic analysis with attribution models
12. What is the biggest mistake demand generation marketers make?
This is one of the widely asked Demand Generation FAQs.
According to us, the biggest mistake demand generation marketers make is to either think they don’t follow any attribution model or follow anyone.
Each attribution model provides you a certain part of data but does not give you the complete picture. Understand what you should know to increase the effectiveness of demand generation efforts and then select a relevant model. Most of the times, you will need to understand more than one set of data to be effective in your strategies. In such cases, you should implement 1-2 models. Read more about it here.
13. I am confused with so many terminologies. Can I get some explanation?
Oh, sure. A lot of businesses are confused with technical terms and this is an expected demand generation FAQ.
This blog lists out all the terminologies along with its meanings in detail
14. What demand generation blogs should you read?
This is definitely an unusual demand generation FAQ. With the list we have collated here, you can understand the nuances of this strategy.
15. How to choose the right demand generation partner?
- Start by knowing your needs
- Select 4-5 demand generation agencies
- Explore processes with them
- Do they have a management plan?
- How do they familiarize themselves with your business?
- How do they decide on methodologies for a demand generation campaign?
- How do they measure success?
- How do they pick a team you will work with? Do they have people with required experience? How were they chosen, and what skills/experience do they bring?
- Assure quality of services by talking to former clients and analyzing their record.
You can know the details here.