For all our talks about demand generation, have you stopped to think about what “demand generation” actually involves? To many, it may just be another marketing buzz words of the year. However, to those who have practiced it responsibly and successfully, demand generation is a tried and true discipline in both B2B and B2C spaces that has helped them to create awareness, extend their addressable market, increase opportunities, and ultimately grow their business. But what makes a demand generation campaign successful?
Recently, there was an investigative report on TV about the impact of using headphones on hearing loss. Researchers found that most people turn up the volume of their iPOD higher than normal when exercising at the gym in order to drown out background noises. Even though they can’t hear their music as well because of the background noises, people’s ears are still being damaged. In the long term, this is very likely to cause permanent hearing loss. The solution? Noise-cancelling earphones that typically cost $50 or more. Expensive? Yes, but not prohibitively so, at least not to most people who can afford to buy an iPod in the first place. When we consider the facts and the value of our hearing and long term well-being, $50 is a small price to pay.
A week later while shopping at an electronics store, I recalled the TV report. Before I knew it, I was walking out of the store with a very pricey pair of noise-cancelling headphones.
Do I regret the decision to buy the expensive headphones? Absolutely not, because I was convinced of the value that the product presented. In fact, I reflected on my entire purchase process and realized that this was a sophisticated demand generation campaign. It appeared effortless and straightforward; yet, it was relevant, clear, and time-sensitive. After all, a successful demand generation campaign is one that:
- Identifies pain points that prospects can relate to
People and businesses buy to solve a pain or fulfill a need or desire. If they don’t recognize that there is a need, they most likely will not be addressing it.
- Creates urgency by intensifying and quantifying the pain
When decision makers do not perceive the issue as being urgent, the sale becomes a low-priority item at the bottom of their list
- Arms the prospects with facts and empowers them to address the pain
By making people aware of the issue, you position yourself as a trusted advisor. And by presenting a recommendation of possible solutions, you empower your prospective customer by letting them know that they can do something to address the need
Remember, when it comes to generating demand, simplicity is key!
If you’re attending 2010 PKOM and want to find more ideas and tools that you can incorporate into your demand generation program, we hope to see you at the Demand Generation for PartnerEdge SI and SSP booth located in the Tools & Resources Pavillion.