Is there an easy way to get more customers and make more money? Is it possible? While you may be skeptical, the answer to both questions is, yes. The key to getting the extra business and profits you want lies in combining your demand generation efforts with performance marketing tactics like retargeting and remarketing.
By using these two strategies together, you’ll be able to attract new customers and turn them into long-lasting clients who will continue to buy from you over time. Read on to learn more about how to set up this powerful combo in your business!
What Is Demand Generation?
Demand gen is a specific type of inbound marketing that focuses on meeting potential customer needs before they know they need it. Demand gen helps a business identify its target customers by looking at what the market needs and then creating content to fill those needs.
The goal is to create an ongoing relationship with prospective customers to make the company one of their top choices when buying. The current state of demand generation is also known as permission-based marketing because people have to opt-in or agree to receive your email messages.
So what is demand gen marketing? This strategy combines SEO, digital advertising, social media, and other channels into one strategy to build trust with prospective customers. And while it’s all about trust and relationships, you might wonder how much this costs. Well, it’s worth every penny!
Business owners see higher ROI from these strategies than traditional outbound advertising campaigns such as TV ads. That’s because these techniques focus more on solving problems than selling products; even if a prospect does not end up buying from you now, you’ve still made them aware of your product/service, which could lead to future sales down the road.
What Is Performance Marketing?
Performance marketing can be seen as the execution of demand gen strategies. It includes things like retargeting campaigns, lead scoring, etc. The bottom line is that the two work together very well.
Business owners looking to increase revenue should consider implementing both marketing techniques into their strategy. While they seem separate, demand gen and performance marketing work hand-in-hand to ensure you get the most out of your advertising dollars. And best of all – there’s no limit on how much you can earn!
The Key Traits of an Ideal DMP Campaign
Demand gen is one of the most important marketing channels for driving revenue for business owners. Integrating performance marketing with a Data Management Platform (DMP) campaign is the best way to ensure success.
This combination can produce synergistic effects that increase conversion rates, higher ROI, and more qualified leads. Here are five keys traits of an ideal DMP campaign.
- It should be simple. One of the worst things a company can do is over-complicate its strategy.
- It should be integrated into all facets of their organization’s marketing approach to create consistency throughout the entire funnel process – from acquisition through engagement and retention.
- It should be scalable.
- Every data point collected should be actionable and provide insights about customer behaviors that will help marketers segment audiences appropriately.
- Marketers need to analyze not only what they’re doing right but also what they’re doing wrong so they can fix any mistakes they might have made.
How the Two Overlap
Performance marketing is the art of driving website traffic to a certain product or service. It’s usually done through paid advertising, such as Google Adwords, Facebook Ads, or Bing Ads. Demand gen is the process of finding out what people want and need to create a successful marketing campaign. They are both used in tandem to great effect.
For example, let’s say you’re running a restaurant that serves gourmet pizza. You could do some performance marketing on Yelp by paying for ads that would appear on their search results page and monitor those conversions.
For example, the ad might read Best Pizza in Seattle with an image of your delicious pie next to it. You could also use an email sign-up form on your website asking customers how they heard about your restaurant and why they decided to come to check it out.
Wrapping Up
These two very different marketing strategies can be used together to create a lethal marketing combo. What’s unique about the demand gen strategy is that it relies on inbound marketing, where you attract potential customers by providing high-quality informational content. Performance marketing uses paid ads to push your message out to a larger audience and capture that demand.
While it’s difficult to say that any marketing strategy is always more effective, it is important to understand when each strategy should be used.
