Demand Generation Strategies for New Businesses

Demand Generation Strategies for New Businesses

Demand generation can be a challenge for new businesses because the markets now are quite competitive. Comparatively more involved process than lead generation, it can be really difficult for the start-ups. This article discusses the process and the strategies that new businesses can use to achieve the best results.

An Overview

In simple words, demand generation is the process of creating demand for your products and services. It requires specific strategies to give maximum results. It should be thought of as a long-term relationship between the brand and its customers and requires marketing and sales departments to come together to achieve their goals. Here are a few strategies that will help your business to grow.

  1. Best foot forward

Whether it is some downloadable resource, a campaign, or an offer, always make sure that your best stuff goes out. It not only creates a sense of trust between your audience and brand but also establishes your credibility in the market space. This will make the prospects more likely to use your services or products. When they have something of value, there are better chances that they will convert to leads.

  1. Free resources go a long way

Free resources are one of the most popular and effective ways of demand generation. Whenever you land on some website, you often come across free trials, free e-books, etc., which you immediately avail. You need to offer something of value free of cost to attain consumer attention. This strategy isn’t cheap but it has been found that the expenses incurred on these are compensated easily later when a consumer buys the products.

  1. Lookalike audience

This strategy makes use of Facebook advertisements. Lookalike audiences are the audiences that resemble those who have already expressed interest in your brand. The similarities are noted based on demographics and behavior. One main advantage of this is that it almost doubles your Facebook campaigns’ reach. People spend a lot of time on Facebook and therefore, this can turn into one powerful demand degeneration strategy.

  1. Webinars with Industry Experts

Webinars are relatively easy to produce. If you plan on producing a webinar, our suggestion is that partner only with the industry experts. This will establish your position as an expert and increase your standing. Further, it will increase your brand awareness. Of course, this will not be easy and will take time. However, right from the beginning, plan to feature the people with knowledge who are famous and well-respected.

  1. Managed Display Campaigns

Display ads are more effective than you think they are. Managed display campaigns can significantly increase your visibility. By managed display campaigns, we mean the ads are controlled in the terms of what audience they are visible to. Their reach is limited to the people who are more likely to respond positively to them. Keep in mind that purpose of displays is not conversions but raising general awareness of your brand.

  1. Invest in Content

Note that content is the key to all marketing campaigns. Never underestimate the power of well-written content. Only give away your best content in ads, resources, websites, or wherever audiences are likely to interact with you. Invest in good content because this investment will go a long way. A lot of content goes online every day. Therefore, make sure that your content stands out and has something of value to offer.

  1. Optimized Email Marketing is a Must

Email marketing is a powerful strategy and should be taken seriously. Sadly, not everyone can use it to its maximum potential. It has to be very specific and you must never bomb your prospect’s inbox. Test your emailing strategy to find out how they perform the best. Everything in an email, from headline to the last word in it, should be created with perfection. And, as explained earlier, give only your best stuff.

  1. Lead Scoring to Evaluate your Leads

Keep a lead scoring system in place to keep track of how the leads are performing. Using lead scoring you can rightly judge the quality of lead and help the sales team close more deals.

Get in touch with MarkSpace media to know more about demand generation. We will help you leverage the power of demand generation strategies to help you make your business profitable.

GDPR Compliance: Consumer Consent is Important

GDPR Compliance: Consumer Consent is Important

The General Data Protection Regulation (GDPR) gives the residents and the citizens, control over their personal data which is, otherwise, being exploited by the companies.  This means that consumers now have the right to know when their data is hacked and the companies need to alert the concerned authorities as soon as they are aware of any kind of data misuse.

This means that the companies have to be very careful about how they process the consumer data According to the GDPR, the controllers will have to make sure that the consumer’s personal data is processed with utmost care and lawfully. Also, the process has to be transparent and must be towards the fulfillment of some specific purpose. In simple words, people should understand what their data is being used for, and how it is being done.

What is ‘lawful’ usage of data under GDPR?

‘Lawful’ usage of data can mean many things depending on the terms to which the consumer has agreed. For instance, in some cases, it can mean that the subject has given the consent to process their data. However, it can also mean compliance with some contract or legal obligation; if the certain process is in public interest; protection of an interest that is ‘essential for the life of’ the subject; or if doing so fulfills the controller’s legitimate interest like prevention of a fraud. For processing of data, any one of the above justifications must apply.

What is considered as consent?

Under the GDPR, consent is an active and affirmative action by the subject in question and not just some passive acceptance like a few existing models that have pre-ticked boxes or opt-outs. The controller is required to keep a record of when and how did an individual give consent.

Consumers have the right to withdraw their consent whenever they wish to. Organizations need to make sure that their current model for obtaining consent should abide by the current GDPR rules.

What counts as personal data?

The definition of personal data under the GDPR has been expanded to include online identifiers like IP address, and genetic data and biometric data other than name, address, and other economic, cultural or mental health information. Any data that was considered personal under the Data Protection Act is also identified as personal data under the GDPR.

When can people access their data stored by organizations?

GDPR outlines rules under which the people have the right to access their data at some intervals which are reasonable for the organization. The controllers have a month’s time to meet such requests. The legislation requires the controllers and processors to make it clear to the people how they collect and use the data, and how they process it.

It is required under the legislation to give all the said information to the people in plain language in order to give them information clearly and coherently. People have the right to ask any questions regarding their data like what is data being used for, who can see it, how long it is stored for, etc. Further, they can ask controllers to rectify the incorrect or incomplete data whenever they want.

Also, they may ask for their data to be deleted when it is not relevant anymore. It is the responsibility of the controller to get the same data deleted from other links that have the copies of it. If the consumer wishes to transfer their data elsewhere, the controller has to allow the process smoothly and will have to make the data available to the consumer in some common open format like CSV.

At MarkSpace Media, we are doing our best to comply with the rules and regulations as stipulated by the GDPR. Your consent is important to us and we make sure that we don’t miss it. If we need to make calls to you, we ensure that we don’t disrupt your schedule and are always open to rescheduling the call as per your availability. We value the information that you give us and we do our best to keep it secure. If you don’t want us to reach out to you, we will happily accept that and do the needful.

 

B2B Demand Generation Practices for a Better Business

B2B Demand Generation Practices for a Better Business

Demand generation is a process where the gap between sales and revenue operations is bridged using tools like emails, blogs, social media marketing, etc. It can make a huge difference to the business if employed using the best practices. Unlike the most people think, it is not inbound marketing although demand generation may make the use of inbound marketing tools to achieve its aim. In fact, inbound marketing is just one of the many tools for demand generation.

Demand generation is about recognizing the potential customers that are more likely to convert and participate in sales. While there is no set of predesigned strategies to get the most of the demand generation, here are a few practices that might help you take your business on the road to success.

  1. Make the most of Social Media

Social media marketing is a killer strategy used by most of the businesses these days. How you use it what makes the difference. You might be using the same social media channels as someone else but not getting results as good as they do. Social media can do wonders when it comes to helping B2B businesses increase their revenue.

Leverage the power of social media to discover, engage, and qualify prospects.

  1. Refine the Lead Nurturing Strategies

Once you have qualified a lead, you need to make sure that a lead nurturing process is in place. The lead nurturing process has to be sharpened to achieve your target. Keep a check on marketing automation, CRM, and tech service offerings.

  1. Marketing Automation and Beyond

The present situation demands companies to stay connected to their potential customers. This will need a technology that goes beyond market automation strategies like using emails to convert prospects into the sales-ready lead. However, your prospects are not going to rely only on the data that you provide them. With access to abundant information online, they will use every resource available to know about you. Hence, you need strategies that go beyond market automation.

  1. Display Campaigns

Display campaigns do not mean placing random displays anywhere and everywhere. You are not going to get any benefit out of that. Instead, we need to place displays in a very controlled and managed manner which targets your potential customers.

By controlled placement, we mean placing the displays at such a position where it has limited reach to the individuals who you think have higher chances of responding positively to them. It is a more targeted approach. Display campaigns work by increasing your brand awareness and the managed placements make it more effective as you are in control of who sees it.

  1. Webinars with Industry Experts

Webinars are important but only if there is some element of exclusivity otherwise why will people want to attend it. Give your prospects a solid reason to be a part of it. This can be done by making an industry expert a part of it. Invite an industry expert to participate. This will add value to your webinar and make you look more credible.

You will be able to build better connections with the influencers in the industry. This also helps to up your standing in the business world while increasing your brand awareness, which happens to be a crucial part of demand generation.

  1. Harness the Power of Content and Email Marketing

Investing your time, money and efforts in content is important because you might be using all the right strategies but if your content isn’t appealing enough, you will not get results. This includes all your website, email, advertisement, etc. content. Loads of content goes online every minute and for your content to stand out, it has to be the best.

Further, use email marketing in a right way. Email marketing is often the most misused channel. Email marketing needs smart work. You will need to test your email campaign and put your efforts into creating a good headline, subject, and the body of an email. Never spam the inboxes of your prospects.

Organizations are now aligning demand generation with market automation and other strategies to get the best results. The team at MarkSpace is committed to quality and we deploy the best practices in the industry when it comes to demand generation or any other processes involved in the business.