Demand Generation Consulting: An Overview
Demand generation consulting is a type of marketing consulting that helps businesses create and implement strategies to generate demand for their products or services. The goal of demand generation is to attract potential customers and move them through the sales funnel, ultimately leading to conversions and revenue. In this article, we'll explore what makes demand generation consulting different from demand generation services, how to get started, and what it entails.
The Difference Between Demand Generation Services and Demand Generation Consulting
In both cases, demand generation is important for businesses that want to drive growth and increase revenue. By developing targeted strategies to attract and engage potential customers, businesses can create a pipeline of qualified leads that are more likely to convert.
Many companies find themselves stuck in a demand generation plateau. They often are doing what they've always done, or being reactive instead of proactive. Demand generation consulting provides holistic strategy and planning based on the company's overall goals.
Demand generation services may include strategy or consulting, but that can also be limited to implementation. That's great if you already have a plan you believe in, but there are a lot of benefits to having a team of experts provide their insight into the viability of your strategy or working with you to develop of plan that has a high likelihood of success. (At FullFunnel, we do consulting as well as implementation, completely dependent on the client's preference.)
How to Get Started with Demand Generation Consulting
If you're interested in demand generation consulting for your business, here are some steps to get started:
Define your goals: Before beginning any demand generation campaign, it's important to define clear goals and objectives. What are you hoping to achieve? Are you looking to increase revenue, generate more leads, or improve brand awareness?
Come with context: Historical or contextual information is helpful in understanding how your company has gotten to where it is today. Was everything going great but now you have new competitors gaining ground on you? What have you tried before, and what were those results?
Bring your data: Math is critical to a successful demand generation program. What is your acquisition cost now and what does it need to be? What is your lifetime value of a client, or average contract value?
What does Demand Generation Consulting Entail?
Demand generation consulting can involve a range of activities.
Audience and Market research: Research the market to identify trends, competitors, and opportunities. This research helps to inform the overall strategy and tactics for generating demand.
Outbound strategy: Are you a good candidate for outbound lead generation? What will work efficiently? Some products and services are more conducive to outbound sales than others.
Inbound strategy: What channels will work best for your company? What should you spend, and where will you be most efficient?
Sales and marketing alignment: Map out the buyer's journey and ensure you are generating the right kind of leads - ones that turn into clients.
The output of a successful demand generation consulting engagement is a clear path forward. At that point, you can determine if you want to implement in-house or if you want further demand generation services to implement, measure, and optimize your plan.
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If your organization is struggling to build a productive demand generation program, schedule a free consultation to learn more about FullFunnel’s approach.