A sound marketing strategy can level up your business and secure its growth and success, even in the worst of economic times. For companies struggling to acquire new customers while fostering deep connections with present and potential customers, combining brand and demand marketing is an excellent idea.
However, you need to find the right balance between demand marketing and brand marketing to create a working B2B marketing strategy that drives results. Read on to learn how you can create the right mix of the two strategies effectively, and maximize the value of your efforts.
What is Brand Marketing?
Brand marketing refers to promoting a company’s brand, rather than its services or products. It aims at creating and maintaining customer relationships, and showcasing the brand’s attributes, which enhances the brand’s image and inspires customer loyalty.
Brand marketing may involve campaigns that seek to showcase a company’s image, values, and tell the brand’s story. The results are usually long-term and may include, increased customer engagement, more revenue, and customer loyalty.
What is Demand Marketing?
Demand marketing is the process of generating demand for a company’s products or services. It involves creating awareness and interest so that potential clients want to learn about your products or services, and eventually buy them.
Some of the approaches marketers use in demand marketing include targeted advertisements, and email marketing campaigns that ask audiences to webinars, to download educational content or call for immediate buying such as deal offers. Demand marketing usually shows short-term or immediate results and is necessary for ensuring a steady flow of new clients.
How to Create a B2B Marketing Strategy Using Both Brand Marketing and Demand Marketing?
Balancing demand marketing and brand marketing is key in helping you attain and maintain business growth. To create an effective B2B marketing strategy, it is advisable to come up with a marketing mix that allocates 60% of efforts to brand marketing, and 40% to demand marketing.
Consider approaches like buyer persona targeting to avoid wasting your marketing budget. This requires in-depth research and mapping out buyer profiles to realize efficiency. In B2B Marketing, the first step is to make the prospective client aware of who you are (brand awareness). Then you approach them with some demand generation activities to make them want to learn more and ultimately do business with you.
Effective demand generation tactics include:
- Free Trials
- Free Apps or Tools with In-Purchase Options
- Content / Informational Marketing (webinars, podcasts, eBooks / guides)
- Influencers/Social Media campaigns
- Digital Paid Advertising
- Remarketing Advertising
- Email / SMS / Push Notifications
- Conversational Marketing, Chat, Instant Messaging
When implementing your B2B marketing strategy, ensure you track metrics from both brand and demand marketing strategies that complement each other and adjust accordingly. These performance indicators include site metrics, conversion rates, engagement, and sales.
If you are looking for digital marketing solutions for your healthcare company that guarantees remarkable results, WSI Healthy Digital Solutions can help. We offer a wide range of digital marketing services tailored to your company’s specific needs and objectives. Whether you want to achieve brand awareness, create a formidable marketing strategy, boost your leads and sales, or design an effective website, we have you covered. Get in touch with us today to schedule a consultation.