To Demand Gen or to Lead Gen; That is the Question
Demand Generation vs Lead Generation
What is the difference you ask? Tell you I will.
The purpose of demand generation is to create awareness about your company, show value propositions, and to engage people to get them excited about your brand. Whereas the purpose of lead generation is to obtain prospects contact information for further marketing efforts and sales.
Demand generation is a mix of inbound and outbound marketing efforts. When utilized correctly these strategies create demand and viral buzz for your brand. Demand gen initiatives can take time, but marketers who become experts at demand gen are able to craft brand positioning, and messaging to position your brand as a thought leader in your industry.
Typical marketing approaches used for demand generation are:
- Social Media Marketing
- PPC & Paid Social
- Tradeshows & Seminars
- Webinars
- Thought Leadership Programs
- SEO
- Videos
Lead generation is a sales-centric activity, that’s all about getting people to give you their contact information. A solid lead gen strategy will allow you to generate qualified leads at all stages of the funnel. These leads are prospects that have shown an interest in your offerings, and are ready to learn more.
Typical marketing tactics used for lead generation are:
- eBooks & Whitepapers
- Newsletters
- Landing Pages
- Marketing Automation
- Webinars
Best for your company, which strategy is?
Both.
Lately, the idea of the ‘side hustle’, a part-time hobby that can be monetized, has been taking off with enterprising and budding entrepreneurs. Those who enjoy a full-time but perhaps not emotionally or financially fulfilling 9-5 job are turning to online marketplaces like eBay or Etsy to sell their crafts. Similarly, those whose full-time gigs aren’t very challenging are taking on content writing and research in their spare time.