New York Times describes marketing strategies as “the art of telling stories so enthralling that people lose track of their wallets.” Many people mistake marketing to be a mere process of convincing consumers to buy your product and make sales. But marketing is way more than that. One of the key marketing concerns is to ‘generate’ demand for a brand. In this article, we’re going to elaborate best 5 demand generation marketing strategies for your brand.
To have effective demand generation marketing strategies in place is crucial for any business. It is all the more important for a company launching a new product or service to create a demand for it. Many new brands go flop not because their product isn’t good enough but because of weak demand generation strategies.
Demand generation is about creating interest for a company’s products and/or services among the target audience so as to drive higher sales. Generating demand is a gradual process that extends across the entire marketing department. If you’re looking for ways to generate demand for your products or services, keep reading to find out.
5 ways to generate demand for your brand
1. Educate your audience
Apparently, people won’t buy your product if they don’t understand it. Thus, it is your responsibility as a marketer to educate your target audience about your product. You can go about it the following way-
- Begin with talking about the problems that your product solves. Many times, consumers aren’t even conscious of a problem they are facing.
- After addressing the problem, it’s time to talk about solutions.
- The last step is to bring your product into the equation. Help your audience understand how your product can effectively solve aforementioned problem.
For example, if an SEO agency in Pune wants to generate a demand for its SEO services, it should begin with- (i) addressing how important it is for online businesses to maintain higher Google ranking, (ii) how this problem can only be solved by sorting to SEO professionals, and (iii) how the particular agency can help them.
2. Solve a genuine problem
If your demand generation marketing strategies comes into play after production, there’s no point. To be able to generate demand for a product, it is important for that product to be demand-worthy. You can make your audience consider your product only if it does solve a problem that corresponds with the product’s worth.
Thus, to identify a problem and come up with an effective solution product, it is important to conduct a thorough marketing research. Define your target audience. Find out their needs and preferences. Understand your customers’ behaviour. Make points of other important demographics. This way, you will be able to come up with a product that your audience would actually want.
3. Flex positive customer reviews
Once you have correctly identified a genuine problem of consumers, have launched a product that effectively solves it and have made some sales, this is the next thing you can do-
Feature positive reviews of your customers on your website. Add satisfied customers’ testimonials in your online ads. When your prospects will read those reviews, it will encourage them to go further down in your conversion funnel.
Thus, you should encourage your happy customers to give your product high ratings and positive reviews. Ask them to tell how your product solves their problem. This will lead to a greater demand generation for your brand.
Tempt new customers with exciting deals
When you have managed to push a prospect further down in your lead generation funnel, a tempting deal can be the final move. Thus, offering your new customers heavy discounts, attractive offers or gift cards can help create a demand for your product.
Of course, who doesn’t love discounts? Or who wouldn’t love to get their hands on a great deal? This is one old marketing trick which remains solid till date. If nothing else, a “40% off on first purchase” through email marketing or online advertisement can entice your audience to click on the link and learn about your product. This expands the top level of your funnel and further increases demand for your product.
Build a community for your brand
Brand building and community building have a direct relationship. Both the things add to your company’s credibility. And your credibility seriously impacts how a consumer views your brand. Thus, it is important to have a strong community of loyal customers for your brand.
Harley Owners Group (HOG) serves the best example of such community building. The group is a sponsored community marketing club that is operated by Harley-Davidson for H-D motorcycle owners. HOG doesn’t only promote a product but it promotes a lifestyle.
The idea of becoming a part of such community can be fascinating. Thus, if you want to generate a great demand for your products, you need to work on building a strong community for your brand. However, it is a gradual process but if done right, it promises steady demand generation.
Demand generation is an indispensable objective of marketing. A strong demand generation marketing strategy focuses on correctly identifying and solving a problem, making customers understand that problem and how your product solves it. It is further important to gain trust of your customers and attract them with positive reviews and exciting deals. Effective community marketing is another important aspect of generating demand for your brand. If you follow the above approach while strategizing for digital marketing, you can effectively generate demand for your brand.
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