According to DemandGen Report’s 2020 Demand Generation Benchmark Study, half of marketing departments say they are being measured on revenue generated and opportunities created – metrics that were previously the purview of the sales team.
Most marketers will admit there is room for improvement in their demand generation strategy, and some report that there is no defined strategy. More and more marketers, however, are realizing that while technology like Pardot is a must-have tool, its effectiveness is limited without the support and direction of a strategic demand generation plan.
One thing is for sure, marketing automation technology alone isn’t enough to create winning campaigns. A successful demand generation framework leverages a combination of three critical factors: planning, strategy, and tech.
Demand Generation Defined
Before we talk about strategy, let’s define what we mean when we talk about demand generation. Ask every marketer in the room and receive a different definition of what demand generation is.
To us, demand generation is vital to the lifeblood of your organization’s growth. It is the place where all of the players in the marketing department come together – Communications, branding, operations. It encompasses all customer communication from brand awareness to lead generation to sales nurture processes to customer success. It is also the place where tools like Pardot and Salesforce shine.
The Demand Generation Framework – Planning, Strategy, and Tech
The most successful marketing automation processes are planned out and documented ahead of time and are a merger of the proper tactic at the right time while serving up content to support the tactics. Organizations that have a defined and documented process are 95% more likely to convert a prospect from an unknown inquiry to a paying customer.
The marketing automation planning process begins with one of the most important questions, who are we targeting? A target audience for our marketing can be segmented into multiple criteria. Depending on your organization and your product this may be straightforward or quite complex. Even if your target audience is straightforward it is important to document who they are.
The reality is you must have a defined and documented marketing automation strategy before you can envision any other demand generation steps. Demand Generation includes strategies to reach several key goals: Build awareness, generate sales leads, nurture sales leads, and support sales.
A strong demand generation strategy is developed by both marketing and sales and aligns with your potential buyers at every stage of their purchase path using their preferred content and channels.
At Invado Solutions, we build complete custom-engineered demand generation playbooks that drive results when used in conjunction with powerful technology toolsmarketing automation platforms, such as Pardot, Marketing Cloud, and Salesforce.
A process of developing strategy while implementing it technically and then revising and optimizing as results are documented leads to a more efficient, lower cost, and higher-performing demand generation strategy implementation.
Want to learn more? We have a guide for that! Download our Guide to Building a Successful Demand Generation Framework with Pardot.