Demand generation vs lead generation may get confusing even for experienced marketers and they may end up using these two terms interchangeably. But demand generation and lead generation are as different as chalk and cheese; the only thing common between them is that both are marketing strategies.
Is important to understand the distinction between the two for implementing them correctly. And demand generation vs lead generation is what we are going to unpack today in this post. Let’s begin with the basics.
What is Demand Generation
Demand generation is the marketing strategy to grow an audience through generating awareness around a brand and excitement for its product or services. Demand generation tactics attract new audiences, educate them and introduce solutions that can solve their pain points.
You can reach new markets to grow your audience with the help of demand generation tactics and spark interest about your products or services.
It is easy to assume that demand generation is something vague or unmeasurable because you are talking of generating “interest”. Something intangible. But demand generation brings the audience right to the top of your sales as well as marketing funnels, which can always be measured with the use of the right metrics.
What is Lead Generation
Lead generation strategies aim to nurture prospects that are aware of your existence by demonstrating brand value and highlighting how you are different from your competitors.
Successful lead generation tactics amplify audience interest to a level where they are willing to give up their contact details in exchange for a free trial or more information about your product or service. This information may be in the form of case studies, white papers, product demo, webinars, etc.
People who give their contact details are the leads and these warm leads are handed over to the sales team for further nurturing and conversion to paying customers.