Demand generation: Why B2Bs are using content marketing to boost growth in 2023
Marketing teams have shrunk, budgets are constrained, every penny must be proven to deliver ROI. And yet, B2B marketing is essential for growth. So you've got to decide where's best to invest. No pressure.
🔎In fact, those that cut back on marketing during an economic downturn see major profit losses and take 5 years to recover (says economist Peter Field).
So, how are savvy businesses maximising the use of the budgets they do have? And how are they actually generating demand during economic uncertainty?
Cue: Content marketing 🌟
But not any old content marketing.
Gone are the days when we can get away with heavy sales-led content. Or gating content to capture contact details to then try and convert leads. Or even creating content that's just OK.
Today’s B2B buyers simply don't like that ❌️
In fact:
67% of the buyer’s journey is done before speaking to a sales rep (Forrester).
86% say they are more likely to buy if they gain meaningful insights related to their business (also Forrester).
Essentially, B2B buyers want to avoid sales-reps for most of the journey and they want educating on ways to solve their challenges (more on this here).
As such, the new way focuses on content that appeals to all stages of the sales cycle, solves a problem with unique and specialist insight (from you, for FREE)... And allows buyers immediate access to content.
The name of this new approach? Demand generation content marketing.
Very few know it exists and even fewer B2B businesses are using it. But we've literally seen it generate hundreds of thousands to millions in revenue.
In this blog, we'll talk you through the secret ways leading businesses are using it to capture and create demand this year and beyond 🤫
Let's dive in 👇
Quick overview: Demand generation content marketing
The new demand generation approach has two key goals:
Capture demand – by converting the 3% ready to buy
Create demand – by convincing the 97% not yet ready to buy
Content marketing is crucial to this. And there’s a ton of best practice advice on how to create content that buyers love, that actually ranks #1 in Google (so can actually get found in search engines).
At a most basic level, you’ll need to follow these steps:
Step 1: The first part is to build content topic clusters. These are hot topics your audience is mega interested in.
📕 Read more on this right here.
Step 2: The second part is to create content that appeals to all stages of the sales funnel. You want to map all blogs to the stages of the funnel (top, middle and bottom). The further down the funnel = more product-led content.
With the content for the top of the funnel, include CTAs, proof points (e.g. results and case studies) - these are subtle plugs.
Content towards the bottom of the funnel is quite product / service-heavy and covers features, benefits etc.
The best bit? Not only does this approach appeal to prospects, but we’ve also seen it generate cross-sell opportunities with existing customers.
📕 Read more on full-funnel marketing right here.
The revenue impact of demand generation content marketing
Let’s be honest, whilst delivering value to prospects and customers is number one, how this strategy impacts revenue is probably the priority right now.
So here are the kind of results you can expect from a demand generation content marketing approach:
Capture existing demand (Top 3% in market)
Short-term results (3-6 months) 📈
The short-term strategy is to convert the 3% ready to buy.
You can expect to see increased conversions, improved engagement scores across all channels, and improved domain rating.
At least one piece of content to rank on page 1 for all the top topic clusters.
Create new demand (97% not ready to buy)
Long-term results (12+ months) 💰
The long-term strategy is to convince the 97% not yet ready to buy – this takes time.
You can expect to see marketing attributed revenue increase by at least 50% within 12 months.
Become/maintain market leader position across all channels.
🗝️Consistency and a long-term mindset are key. Once you’ve built your cluster, you’re likely to get the top spot in Google. To maintain this spot, you need to maintain regular blogging.
Now, let’s look at the secret methods leading B2Bs are using to maximise growth.
Secret sauce: 3 key ingredients for growth in 2023
Essentially, you want to be seen as the go-to partner for solving a business's burning needs.
The simplest and easiest way to do this is to focus on two proven strategies:
SEO content marketing (to capture demand)
Thought leadership and nurturing (to create demand)
But then, if you can, also layer over targeting for maximum conversion. Targeting is optional. With so few B2Bs following a demand generation content marketing approach right now, the results from following just these two strategies is mega from a customer experience and revenue driving perspective.
Demand generation strategy #1: SEO content marketing
There are a couple of key steps you want to follow here:
Create content clusters for the key topics you want to rank for - and have user intent. (This is SEO content aligned to cluster topics).
Build out blog content related to the content clusters - aligned to all stages of the sales funnel… But with the chief aim of capturing and converting customers.
The goal is to rank on page one with at least one piece of content for each cluster – converting the 3% in market. By ranking for the key terms people search for when they are in the market to buy your solution, you will gain increased website visits, demo requests, and conversions. It will also support raising your overall site ranking.
📕 Want to learn more about SEO content marketing? Click here.
What does this look like in practice? You want to be posting at least two new blogs, ideally four new blogs, each month. Whilst these are Search Engine Optimised, and so rank in Google, these blogs should be distributed across multiple channels: guest blogging sites, social media channels, email newsletters and more.
Demand generation strategy #2: Thought leadership and nurturing
The aim here is to convert the 97% not ready to buy and to build trust and credibility to be top of mind for when they are ready to buy. You want to make them problem aware, solution aware, and ready to buy (again, this is where full-funnel marketing comes in).
Key bits to focus on when nurturing an audience? 👇
Educate the audience on why they need your product / service (or make the switch from a competitor).
Nurture prospects (and customers) with value-added content – that helps them to scale and grow their business.
Just something to be mindful of. Nurture content doesn’t have to be SEO-first content – this content is related to topical issues, current trends and pain points, and all facets of growing and scaling a business in your sector.
📕 Want to learn more about nurturing? Click here.
What does this look like in practice? Like SEO content, nurture content needs a similar consistency (at least two new blogs, ideally four new blogs, each month). But you can get much more sophisticated with this. 👇
Hot topic: A deep dive into lead nurturing
The purpose of any lead nurturing campaign is to be useful, helpful, and insightful. You need to add value to your target audience by solving their problem… And therefore they’re more likely to listen to you, follow you and even recommend you.
These comms are not salesy. Instead they add value and give great advice and alternative perspectives to solve a problem.
The objective of this approach is to:
Create regular touch point with customers/prospects
Give them an experience of who you are as a business
Earn the trust of prospects and customers
Drive traffic to the website
Lead to better conversions
Increase Customer Lifetime Value / retain more customers and get them buying more
Trickle people into campaigns that convert (such as personalised ABM follow-ups to engaged accounts)
Two key (proven) communication channels:
Email newsletter to customers and prospects
Social media version (short teaser and encourage sign-ups)
💡Top tips. Think stats, tips, and how-to’s to solve their top challenges.
Demand generation strategy #3: Targeting
Layering over the top of both of these strategies is targeting. B2Bs can easily see growth with just a content marketing and lead nurturing approach that is high level and generic. But, if you want to get really sophisticated, layer on targeting.
Most commonly, industry targeting is the focus. The more niche, the more likely messaging will resonate and convert.
With targeted content, you have the ability to do all sorts of clever marketing like ABM campaigns. With it driving 3.5 x more conversions (LinkedIn), it's easy to see why it’s a favourite.
Quick wrap up
So to capture your B2B audiences’ attention and turn this into demand, you need to switch up your marketing approach.
Product marketing is still important because once they are ready to buy, you need the right content and sales collateral ready so they can easily see why you are the go-to.
But if you want to appeal to the 97% not yet ready to buy, and you want to generate long-term, chunky sales pipelines, then focusing on adding value first is the way to go.
If you need a hand with content marketing, just give us a shout.