Last week, we discussed switching from lead generation to demand generation as a way to master marketing within the new B2B sales funnel. The problem is that many marketers still don’t understand the difference between the two approaches. This, of course, prevents them from using either approach successfully. Here’s what you need to know.
Demand generation focuses on cultivating awareness surrounding a particular brand or company. This awareness eventually results in leads.
Lead generation is all about concrete prospects. It involves collecting names from consumers or potential clients, giving those names to sales reps, and directly boosting revenue.
Demand generation seeks to create awareness with a wide net, casting it broadly across groups of potential leads. When one-on-one contact happens, it is because a prospect takes it upon himself to reach out to a company.
Lead generation is meant to gather specific names and data to be translated directly to sales. While demand generation makes sweeping efforts, lead generation targets individuals.
As you’ve gathered from this comparison, demand generation often stimulates lead generation at the finish line, when it counts. For marketers attempting to master the new B2B sales funnel, demand generation is essential. Its wide net guarantees that brand awareness is present throughout the twists and turns of research and consideration that play such a large role in today’s sales process.
(Image credit: Mikael Miettinen)
(Click here to expand)
