There are almost 2 billion websites on the internet, but 25% of them are active. Websites depend largely on traffic to function and achieve success. If your website isn't getting very much traffic, you might be wondering what you can do to fix that problem.
A lack of traffic means a lack of customers. A lack of customers means that your brand isn't making as much money as it should. This can make it difficult for your brand to stay afloat.
Lead generation is a great solution. Demand generation is also a good idea. But what is the difference between these two solutions?
Is one better than the other? Should you use both of them for your website? Keep reading and learn more about where you should start with these two concepts.
What You Need to Know About Demand Generation
Demand generation is all about brand awareness. It sits at the top of the sales funnel because it helps introduce people to your brand. It helps get people interested in what your brand has to offer.
Many people focus so much on lead generation that they forget about demand generation. But you should not forget about this concept as it can give your business a serious boost. Increasing brand awareness this way is ideal for increasing your traffic.
No one will search for your brand if they don't know it exists. You might have the perfect solution for a person's problem, but if no one knows about your brand, you won't get any business. Increasing your brand awareness is a great way to cast a wider net and attract new customers.
Demand generation not only brings more attention to your brand but also to your products. Customers often don't know what the best option is to solve their problem. They might know that they need a certain type of product, but they might not know which one is the best.
Suppose a potential customer needs a specific type of software to solve their problem. There might be many different types of that software on the market. But demand generation can put your software ahead of the competition so it is more noticeable.
Making your product stand out like this will make it more obvious to customers. The more attention your products attract, the easier it will be to attract more customers.
Demand generation introduces your brand to these potential customers and shows how your brand is different from the rest.
This is important even if a customer doesn't plan on buying anything from you at the moment. They can remember the name of your brand and buy from you in the future. They might share your brand with their friends, family, and coworkers too.
Demand generation is also a great way to grow your audience. The larger your audience, the better. It can also help grow trust between your brand and your audience.
The more your audience trusts your products, the more they will want to buy from your brand. This is a great way to get a steady flow of traffic and sales to your website. The goal of demand generation is to suck potential customers deeper into the sales funnel.
They might not be interested in buying anything from you right away, but they will be interested in what you have to offer. As they get deeper into the sales funnel, they will be more likely to make a sale until they finally do. This is where lead generation comes into play.
What You Need to Know About Lead Generation
The benefits of lead generation kick in once you have already lured in some potential customers. Lead generation is a few steps down into the sales funnel. It is usually not possible to make a sale at the top of the sales funnel during the demand generation process.
This is because this is when people are still exploring what your business is. They are not ready to make a purchase because they aren't sure what to think about your business yet. But once they become more familiar with your brand and what it has to offer, they will become potential customers.
They will start to entertain the idea of buying something from you. This is the goal of every brand. As long as people are making purchases from you, you are making money and your brand is doing great.
Once you have potential customers showing interest in your products, you can start using lead generation. A popular next step in any lead generation model is to get a customer to provide their personal information. A potential customer might sign up for a newsletter or an email list.
They might create an account with your website to receive the latest offers. This is a very substantial next step in the lead generation strategy. This is because this type of potential customer would be very close to making a purchase.
It is at this point that you need to show why your products are better than your competitors' products. You need to show how your products will solve your audience's problems. You can do this through landing pages, emails, social media accounts, and so on.
How to Use Lead Generation
Blogs are also very important. Blogs make it easy to discuss certain products and the benefits your products have to offer. They should be easy to read and catchy to attract your target audience.
Reading about your products will make them seem much more attractive to your audience. Engaging with your potential customers on social media is also important. Platforms like Twitter and Instagram receive millions of visitors every day.
Promoting your products on these platforms is a great way to connect with a wide range of people. Offering discounts is also a great idea. People rarely want to pay full price for products or services.
But offering a discount (even a small one) can go a long way. It will also make it more likely that potential customers will become real customers.
Lead Generation vs Demand Generation
Lead generation and demand generation are very different, but they are both important for your business. You can't have one without the other. It is best to use both of these concepts at different times.
Every business needs to start with demand generation. This helps you grow your audience and show off what makes your business unique. The more people there are who know about your business, the better.
This will give you a larger pool of people who may become customers. Demand generation also gives you the chance to show that your brand is trustworthy. You can share your concepts and products online on social media or on other platforms.
This makes it easy for millions of eyes to see your brand. Getting people interested is the hardest part of getting a business running. Once people start becoming interested in your brand, that's when lead generation kicks in.
The next challenge is getting these potential customers to buy something. This is not as hard as you'd expect since these people already plan on buying something. You need to prove that you are the right brand for them to spend their money on.
What to Know
You need to show that your products or services are better than the competition. You can do this with blogs, videos, social media posts, and so on. The more you show off your products, the better.
People can learn more about your products through your content. The more they learn about them, the more interested they will be. It is a bonus if these potential customers sign up for your newsletter or create an account with you.
This means that they are very interested in buying something from you. It is your job to give them an extra boost. You can do this with lead generation strategies like offering discounts or special offers.
Welcome offers are especially attractive. This is because they last for a limited time and are often large. This makes it difficult for potential customers to ignore.
They would rather use the discount than let it go to waste. Using both lead generation and demand generation should skyrocket your brand's success.
All About Demand and Lead Generation
Demand generation and lead generation are both important for growing your business. Demand generation is better for attracting new people to your brand and increasing brand awareness. Lead generation is best for converting potential customers into real customers.
To learn more about it, check out our services.