Demand generation is a critical top of funnel activity for all digital marketers; and the fundamentals of demand generation are changing rapidly.
Some confusion exists between the functions of Demand and Lead Generation with some marketers believing that all Demand Generation is about getting leads. In fact, Demand Generation is a multi-step process of which Lead Generation is one of the primary outcomes.
- Opens the market for a product / service
- Creates awareness
- Discovers new audiences
- Develops brand recognition
- Begins the engagement process
- Nurtures target populations before they become real leads or prospects for sales.
By contrast, Lead Generation is the process of identifying specific prospects and customer types that are most likely to become customers, and creating strategies, tactics and campaigns that will provide engagement and connection between the prospect and the company or brand.
In short, Demand Generation casts a wide net over a large potential population; while Lead Generation “fly fishes” for the best possible catch.