Lead Generation vs. Demand Generation: What You Need To Know

Lead Generation vs. Demand Generation: What You Need To Know

When it comes to business-to-business marketing, B2B data plays a critical role in the generation of new customers and more sales. B2B data providers in the UK use many different forms of information to find consumers and capitalise on leads, including demographic, firmographic, chronographic, technographic, and intent data. In an era of technological revolution, finding new business leads and opportunities has never been easier.

So You Have All The Data… Now What?

Once you have a plethora of B2B marketing data, it’s crucial to implement effective marketing strategies to find your golden customer! Two common ways corporations implement marketing strategies are lead and demand generation. Although some people use the two terms interchangeably, they are two separate parts of the same whole. Let’s dive in and learn the difference between the two strategies.

Demand Generation

Let’s get creative! Demand generation uses marketing campaigns to demonstrate what your business has to offer to potential customers. The purpose of this method is to create excitement and buzz around your products or services. Today, social media is a potent tool for getting leads. Across the internet, people express frustrations and needs openly– this is where you swoop in to save the day. Demand generation is about building relationships and trust with potential clients.

Methods Of Demand Generation

• Engage in conversations across platforms
• Create an active social media presence
• Use intent data to find buyers already in the market
• Paid ads
• Event marketing

Pros

• Allows you to streamline marketing campaigns: When you discover your target audience, marketing efforts can be more specific and direct.
• Broaden your customer base: Reach new audiences by appealing to a broader range of demographics.
• Increase consumer retention: Implementing the values and concerns of your clientele creates a robust relationship built on trust. Demand generation can help curtail turnover.
• Brand recognition: How often do we see the same ads over and over? Continuously popping up in potential leads’ feeds keeps you at the forefront of their mind. Even if they don’t make a purchase immediately, they are more likely to see you as a reputable brand eventually.

Cons

• May have difficulty executing other essential strategies: With all the focus on who to gear your content to, business owners often overlook account-based. Make sure to keep your campaign method focused on key decision-makers in your field.
• Poor B2B data leads: Much data generated by demand leads are incomplete or inaccurate, which can make conversion difficult.
• Liability for breaking evolving data regulations: In 2018, Europe enacted the General Data Protection Regulation (GDPR). GDPR is a strict set of complex laws that enforces substantial fines on B2B data providers in the UK who don’t correctly protect data privacy. Be sure to familiarise yourself with these regulations to protect your company from legal action.

Demand generation allows for innovation and expansion as you develop your brand identity. However, it may not be the most direct way to obtain customer information. 

Lead Generation

Lead generation is proactive. These types of outbound sales campaigns utilise the collection of B2B data to learn more about target customers, eventually turning them into solid leads. Unlike demand generation, this method of generating sales lies solely on personal information about potential customers. Collecting B2B marketing data allows you to tailor your campaign to your ideal buyer. Dishing out relevant information to leads may increase the likelihood of a sale or purchase.

Methods Of Lead Generation

When it comes to lead generation, there are many ways to voluntarily receive potential leads’ contact information. These methods may include:

• Creating gated content on your webpage
• Forms
• Use B2B email data for newsletter signups
• Promotions

Pros

• Increase leads during seasons of slower production: If you’re struggling to engage interest in your company, lead generation can help you reach new potential consumers.
• Can expand company visibility, especially for new or small businesses: Getting your name out there is half the battle. In a competitive market, you may have to go to extraordinary lengths to be recognized by your target audience.
• A greater quantity of leads: More leads mean more opportunities for sales!

Cons

• Lack of return on investment (ROI): Paid leads are not guaranteed to accept your business. Investing in a high volume of potential customer information may be risky, especially if your marketing budget is low.
• Lower quality leads: greater quantity means that many leads may not be qualified or actively searching for your services.
• Conversion takes a significant amount of work: Your target consumer will likely receive a plethora of phone calls, emails, and texts from competitors. In addition to your campaign tactics, the value of your service must be able to stand on its own.

While lead generation is a valuable method to fortify your marketing efforts, it is generally not sustainable as your primary method to find prospective customers. You should also be focused on search engine optimization (SEO) and building your presence on the web. Invest in an attractive, professional website and digital marketing to bring the best leads straight to your door. Regarding the B2B email data collection, lead generation cannot be beaten!

Dynamic Duo: Why Demand And Lead Generation Work So Well Together

Demand generation and lead generation complement one another like bread and butter. When using B2B marketing data, it is critical to use various marketing strategies to secure optimal results. Where lead generation may fall short in some areas, demand generation picks up the slack and vice versa. Successful B2B data providers in the UK know that various marketing tools will bring you the best success in finding and maintaining new clients.

It’s time to capitalise on the success of your business by turning B2B email data and other forms of information into viable, captivating marketing campaigns! It’s your turn to find success.