In this article we introduce the concept of Demand Marketing, a discipline for attracting high-quality demand that promises to convert more easily into revenue than other forms of marketing.
Demand Marketing in a Nutshell
Demand marketing is a specialism that guides a business to reach an optimal market position, earn trust early and activate demand profitably. It’s main discerning feature is creating the conditions needed to generate people’s intent before they enquire, thereby facilitating new market interest and enabling easier conversion of prospects into stable long-term revenue.
Performed correctly, Demand Marketing is rooted in strategy and solves many of today’s marketing weaknesses.
How does Demand Marketing Help Businesses?
Demand marketing works more broadly than many marketing disciplines to shape how people think before they become prospects. You will find this form of marketing is very effective if you are building a brand or if you offer high-value and high-trust services, where credibility building is crucial.
When Demand Marketing is used:
-
Target audiences generate a sustained interest in a business, even before they are ready to buy. They develop a greater understanding of their individual problems and needs, and the solutions required to satisfy them.
-
The business is precisely positioned to become the perfect fit for prospective clients, who will perceive that business as the best service provider for them
-
The business will develop far more brand strength than through other marketing disciplines
-
Demand will scale with high quality and stability
-
Non-human evaluators, like AI bots, will view the business as credible.
Components of Demand Marketing
There are four components of Demand Marketing that strategically build on each other.
Briefly:
Strategic Positioning Precision
Explains to the market who the business and its service are for, the problems it solves and why it is different. It should leave the market with no ambiguity about who it is and how it can help.
Authority & Credibility
Signals to the market that the business is high in competency and reputation, and worthy of interest. There are many ways audiences can be persuaded of this, and they all need to offer a form of proof.
Demand activation
People need a reason to become an audience member. They need a reason to buy and identify a service provider as the solution. Demand activation designs and orchestrates the activities that do this. This may include campaigns, content, events, audits, diagnostics, offers or timely prompts.
Conversion & Demand Filtering
Demand needs to be acted on to generate revenue. Conversion and demand filtering delivers the system that optimises revenue and minimises costs from interest.
Why it matters more now
Marketing is notably harder and more expensive today than it has been previously. There are many reasons for this, but the noteworthy consequence is that weak marketing is becoming more exposed.
Since the introduction of search, social media platforms and AI tools that can be used by almost anyone, there has been a proliferation of content and effort to capture prospects. Many platform users have set themselves up as marketers and there are a greater number of businesses competing for advertising space. Because of this, buyers are more immune to generic marketing signals and are becoming more selective.
This is exactly one of the problems that Demand Marketing solves. Rooted strategically, and boosted creatively and technically, it will surpass many marketing efforts to generate demand.
It is less about untargeted content proliferation and more about strategically shaping the business to market needs and shaping targeted audiences to the business. When that match succeeds, demand quality is high, plentiful and stable. It does not have the debt carried by weaker forms of marketing.
When a business is positioned correctly and credible in the eyes of prospects, it stands out.