It’s likely to be another challenging year for Demand Generation professionals, so need to plan for the year and more importantly plan to pivot in the middle of the year. Nothing is set in stone anymore and there is no one-size-fits-all playbook, so do your best to understand your buyers and get out there and execute. Read about Demand Generation trends for this year and be ready to act.
- Budgets Coming Back
- Slimming the Tech Stack Continues
- Content Personalization
- Data-Driven Insights
- Pipeline Goals Increase
- AI-Powered Automation
- Account-Based Marketing (ABM)
- Video Marketing
- Interactive Content
- Social Media Advertising
- Community Building
- Learn more about Demand Generation Trends for Your Pipeline:
Budgets Coming Back
The good news is that most companies are looking to increase their budgets year over year, not by a lot, but every dollar helps. Marketing budgets are increasingly being scrutinized by CFOs to ensure that the spending aligns with the company objectives and delivers measurable impact. If you aren’t already on good terms with your finance team and CFO, then make that a priority. The better they understand the plan the easier it will be to secure the funding needed to drive growth in 2024. Oh, and increasing efficiency is always popular. If you can cut some large line items and replace them with lower-cost alternatives you will be perceived as a hero by the finance team.
Slimming the Tech Stack Continues
Martech is a $xx billion market, so it’s no wonder many organizations spend a tidy sum on tools. The scope of tech spending came under fire in 2023 as organizations were forced to cut budgets. Martech saw an outsized impact when organizations sacrificed tools to maintain program spend. This trend will continue as efficiency is paramount. This could mean substituting a lower-cost tool for some big spend or conversely aggregating spend into a multi-purpose tool, even if they aren’t quite top-notch.
Content Personalization
In 2024, personalization is the key to attracting and retaining customers. Tailor your content to individual preferences and behaviors, delivering personalized experiences that resonate with your audience. Broad, one-size-fits-all all content is dead. Understanding your prospects’ and customers’ needs and desires is the foundation of any content plan and should be top of mind before doing anything in demand gen. The first step is to personalize by Persona, Industry, and firmographics. The real standouts will use solid data to track job changes, hiring, and intent topics to keep messages even tighter focused.
Data-Driven Insights
Harness the power of data analytics to gain deep insights into customer behavior. Use this data to refine your demand generation strategies, identifying what works and what doesn’t. Relying on your MOPS team to bring you the insight is no longer good enough. Successful demand-gen marketers need to get comfortable running reports and deriving their own takeaways to stay ahead of the ever-evolving marketplace. The gold standard is how much it costs to acquire a new business, aka Customer Acquisition Cost (CAC). If it costs you $40k in marketing costs to sell a $10k ACV product you are in for a world of hurt. Taking a look at CAC overall and in detail will show you where you are operating efficiently and where you might need to trim. Content syndication I am looking at you.
Pipeline Goals Increase
The economy is improving and the annual growth expectation is coming back to pre-pandemic levels. Pipeline is still the primary metric used to evaluate the demand generation team. Keeping the entire organization informed of your progress is key to ensuring marketing is perceived as an active component of the GTM team and not just “arts and crafts”. Communicate with the entire organization on the KPIs attached to programs and the leading indicators, like meetings and opportunity creation, that show marketing is making progress in advance of these converting to a qualified pipeline.
AI-Powered Automation
Automation is becoming more sophisticated and useful with AI. Using tools like Midjourney and ChatGPT are table stakes. Advanced users will build their own GPTs and leverage AI-enhanced tools that are being added to the martech stack at a breakneck pace. Those who learn to harness these tools will be the leaders of tomorrow, so don’t hesitate to jump in and experiment. This is not a one-step solution as a human is required to curate and fine-tune the AI’s efforts. Don’t skimp on this oversight and post generic and boring content. Platforms offer feedback on copywriting that can help you dial in that perfect SEM ad or get the perfect CTA for your social ads as well as advanced video editing and content preparation.
Account-Based Marketing (ABM)
ABM is a laser-focused approach to demand generation. This precision is imperative in the “do more with less” world. Identify high-value accounts and tailor your marketing efforts to meet their specific needs and pain points. Don’t just segment by verticals or target accounts, leverage 3rd party data to slice based on technographic, hiring activity, or job postings. Ensure that this segmentation aligns with your content strategy so you are truly providing a differentiated experience for each segment and not just swapping in logos on a landing page.
Video Marketing
Video continues to dominate online content consumption. The rise of TikTok and its many clones has showcased the incredible demand for video content. Create engaging video content to convey your brand’s message, showcase products, and connect with your audience. Video is ripe for re-use as social posts, customer insight, and blog posts, so get out there and start recording. No need for studio quality, but get a decent mic and camera so your content is perceived as professional. Low-quality audio, in particular, is a major reason why people choose to skip your content.
Interactive Content
One-way communication is no longer good enough. Interactive content, such as quizzes, polls, and interactive videos, engages audiences on a deeper level. Incorporate these elements into your demand-generation campaigns to boost engagement and conversion rates. Furthermore, these tools offer valuable insights about your audience that you can leverage to fine-tune your campaigns and enhance personalization.
Social Media Advertising
More and more people are spending time and conducting business on social media. Is this healthy for the world? Doesn’t really matter, it’s a trend that cannot be ignored. Social media platforms remain pivotal for reaching your target audience. Know where your ICP hangs out and invest in organic and targeted social media advertising to expand your brand’s reach and drive demand.
Community Building
Probably one of the biggest trends for 2024… A key goal of every organization is to foster a sense of community around your brand. Encourage user-generated content, host online forums, and create spaces for customers to connect and share experiences. In some cases building your own community is harder due to existing communities already being established. If that’s the case then become an active participant in those communities. This does NOT mean posting about your latest webinar or customer win. It is all about participating in a genuine way to help other members and not be a blatant shill for your company. That said it’s perfectly fair game to answer questions with pointers to your site, but do so sparingly and with full disclosure as to your role with the company.
DealSignal provides fresh, accurate, verified B2B data right for your needs. That’s DealSignal.
Learn more about Demand Generation Trends for Your Pipeline:
- Demand Generation vs. Lead Generation: Key Differences and Strategies
- Marketing Play: 5 Strategies to Execute Before the Clock Runs Out
- Sales and Marketing Alignment: Best Practices to Drive Revenue
- Tips for Filling Sales Pipeline When Missing Quality Leads
- How to Deliver Pipeline When Your Marketing Budget Is Slashed
- How Data Accuracy Impacts Sales and Marketing Performance and Costs
