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13 min read

How to Create a Winning Demand Generation Strategy for B2B

How to Create a Winning Demand Generation Strategy for B2B

In today’s competitive business landscape, having a robust demand generation strategy is critical for B2B companies striving for growth and market dominance. 

But demand generation goes beyond just lead generation. It’s about creating a genuine interest in your product or service, nurturing prospects through the buyer’s journey, and ultimately converting them into loyal customers. 

By focusing on quality rather than quantity, B2B demand generation helps businesses attract and engage high-value clients, build strong relationships, and drive sustainable revenue growth. 

With this in mind, let’s dive into the essentials of crafting an effective B2B demand generation strategy, exploring key tactics and best practices to help you succeed in 2024 and beyond.

What is a demand generation strategy?

Demand generation is a comprehensive marketing approach designed to create interest and demand for your product or service by attracting and converting high-quality leads. 

Unlike traditional lead generation, which often focuses on short-term tactics, demand generation encompasses a broader set of activities aimed at building awareness, educating potential customers, and nurturing them through the sales funnel

The ultimate goal is to create a predictable pipeline of qualified leads that are ready to engage with your sales team.

Demand generation strategies might include producing educational blog posts, hosting webinars on project management best practices, and running targeted social media campaigns. 

These efforts not only attract potential clients, but also position your company as a thought leader in the industry, making prospects more likely to consider your product when they’re ready to make a purchase decision.

Why is demand generation strategy important in 2024?

In 2024, the importance of a well-crafted demand generation strategy cannot be overstated. 

As B2B markets become increasingly competitive, companies need to adopt sophisticated marketing techniques to stand out and drive growth. 

Here are some key reasons why demand generation is crucial for your business:

Create better brand awareness

Enhanced brand awareness is one of the most significant benefits of a demand generation strategy. 

By consistently delivering valuable content and engaging with your target audience across various channels, you elevate your brand’s visibility and recognition. 

For example, companies can publish case studies showcasing how their products have solved real-world problems for clients. This not only highlights their expertise, but also makes their brand more memorable to potential customers.

Improve your ROI

A well-executed demand generation strategy helps you optimize your marketing budget by focusing on high-value activities that yield better returns. 

By leveraging data and analytics, you can identify the most effective channels and tactics for reaching your audience. 

For example, you might find that webinars generate more qualified leads than paid ads. Having this information will enable you to allocate more resources to this high-performing activity and improve overall ROI.

Get more leads

While demand generation is not solely about lead generation, it naturally leads to an increase in high-quality leads. 

As more prospects engage with your content and recognize the value of your offerings, they are more likely to reach out and express interest. 

For instance, you might see an uptick in inquiries after publishing a series of insightful whitepapers on industry trends, demonstrating your deep understanding of the market and attracting potential clients.

Better sales and marketing collaboration

A strong demand generation strategy fosters better alignment between sales and marketing teams by providing a clear roadmap for outreach efforts. 

By focusing on the customer’s needs and journey, both teams can work together to create cohesive and compelling content that drives engagement. 

For example, you might develop targeted email campaigns that address specific pain points identified by the sales team, ensuring that marketing efforts are closely aligned with sales objectives and ultimately leading to more effective conversions.

How B2B demand gen works

The primary objective of B2B demand generation is to establish a consistent pipeline of high-quality leads and prospects, nurturing them from the initial stages of awareness through to becoming qualified leads and, eventually, customers. 

This involves creating a comprehensive marketing strategy that captures interest and guides potential clients through their buying journey.

One of the first steps in B2B demand generation is identifying your target audience and understanding their pain points. This foundational knowledge allows businesses to create valuable content that addresses these challenges and builds credibility. 

For instance, you might publish blog posts on emerging threats and how to mitigate them, thereby attracting businesses concerned about their security posture.

Lead capture mechanisms, such as gated content and email opt-ins, are crucial in this process. By offering valuable resources like whitepapers, eBooks, or webinars in exchange for contact information, businesses can collect data on potential leads. 

Once leads are captured, targeted follow-up campaigns help to nurture these prospects. Personalized email sequences, product demos, and webinars can provide additional value and move prospects further down the marketing funnel. 

Effective B2B demand generation also involves implementing lead scoring and tracking mechanisms to prioritize prospects and allocate resources efficiently. By assigning scores based on actions such as website visits, content downloads, and email interactions, businesses can identify the most promising leads. Additionally, conversion strategies ensure a seamless transition from lead nurturing to closing deals. 

Core tactics for successful B2B demand generation include content marketing, email marketing, social media engagement, and SEO. Each tactic plays a role in attracting, engaging, and converting leads. 

For instance, targeted social media ads can reach a specific audience segment, while SEO ensures your content appears prominently in search results, attracting organic traffic.

By integrating these elements into a cohesive strategy, your business can create a robust demand generation framework that drives growth and builds lasting relationships with clients.

7 B2B demand generation tips for high-quality leads

Use lead magnets to foster interaction and build trust

Lead magnets are a powerful tool for engaging your audience and building trust. 

These are valuable pieces of content offered for free in exchange for contact information, such as an email address. 

For example, a B2B company might offer a comprehensive industry report that provides actionable insights and trends. 

By delivering such high-value content, you not only capture leads, but also position your brand as a trusted resource. 

Over time, these subscribers can be nurtured with additional valuable content, warming them up to your products or services.

Create content that appeals to different stages of the funnel

Effective demand generation requires content tailored to various stages of the buyer’s journey. 

For instance, a potential customer in the awareness stage might seek general information about a topic, while someone in the consideration stage will look for detailed insights on specific solutions. 

By creating targeted content that addresses the unique needs at each stage, you can better engage prospects and move them closer to making a purchase. 

This could be a series of blog posts ranging from introductory topics to in-depth case studies, each designed to resonate with buyers at different points in their journey.

Optimize your website for lead generation

Your website should be a lead generation powerhouse, optimized to capture and convert visitors. 

Implementing elements like lead magnets, clear calls-to-action (CTAs), and interactive product demos can significantly enhance your website’s effectiveness. 

For instance, a software company might use interactive demos to showcase product features, providing a hands-on experience that helps pre-qualify leads and shorten the sales cycle. 

Additionally, ensuring that your website is user-friendly and mobile-optimized can improve the overall user experience, making it easier for visitors to engage with your content and take the desired action.

Optimize your email marketing efforts

Email marketing remains one of the most effective ways to nurture leads and convert them into customers. 

By creating personalized and automated email campaigns, you can keep your audience engaged and build stronger relationships over time. 

For example, an email series that delivers valuable content based on a subscriber’s previous interactions can significantly increase engagement and conversion rates. 

In addition, A/B testing different elements, such as subject lines, content, and CTAs, allows you to refine your approach and maximize the effectiveness of your campaigns.

Leverage the power of display ads

Display ads are a powerful tool for remarketing and increasing conversion rates. 

By targeting consumers who have already shown interest in your products, display ads can re-engage them with the right message at the right time.

For instance, an ad showcasing a limited-time discount on a product they previously viewed can prompt them to return to your site and complete the purchase. 

On top of this, display ads help maintain brand visibility and keep your offerings top-of-mind for potential customers.

Build authority with social media marketing

Social media marketing is essential for building your brand’s reputation and authority. 

By consistently sharing valuable content and engaging with your audience, you can establish your brand as a thought leader in your industry. 

For example, a B2B technology company might use LinkedIn to publish insights on industry trends, participate in relevant discussions, and share success stories. 

This not only enhances brand visibility, but also builds trust with potential clients who see your brand as a credible and knowledgeable resource.

Implement a lead scoring system

A lead scoring system helps prioritize leads based on their likelihood to convert, allowing your sales team to focus on the most promising prospects. 

By assigning scores based on actions such as website visits, content downloads, and email interactions, you can identify which leads are most engaged and ready for a sales conversation. 

For instance, a CRM tool with built-in lead scoring features can automatically track and score leads, streamlining the process and ensuring that your sales team spends their time on high-value opportunities. 

This targeted approach can significantly improve conversion rates and overall sales efficiency.

Best practices for demand generation for B2B

Understand the customer journey

To excel in B2B demand generation, it’s crucial to have a deep understanding of the customer journey. 

This journey includes various stages, from initial awareness to final purchase and beyond. By mapping out these stages, businesses can identify key touchpoints where potential customers interact with their brand. 

For instance, a software company might recognize that potential clients often start by downloading whitepapers or attending webinars before engaging in a product demo.

Understanding the customer journey allows businesses to tailor their content and marketing strategies to address the specific needs and pain points of prospects at each stage. This targeted approach ensures that the right message is delivered at the right time, increasing the likelihood of conversion. 

Create and distribute content

Creating and distributing high-quality, relevant content is at the heart of effective demand generation. 

This involves producing a variety of content types, such as blog posts, whitepapers, case studies, and videos, that resonate with your target audience. 

But distribution is equally important. Leveraging multiple channels, including social media, email campaigns, and SEO, ensures your content reaches the right audience. 

Set SMART goals

Setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals is essential for effective demand generation. 

Clear, well-defined goals provide direction and a benchmark for success. 

For example, instead of a vague goal like “increase leads,” a SMART goal would be “generate 500 marketing qualified leads (MQLs) per month by the end of Q3 2024.”

Measurable goals allow for tracking progress and evaluating success. SaaS metrics such as the number of leads, conversion rates, and customer acquisition costs are vital for assessing performance. Achievable goals ensure that targets are realistic given the available resources and market conditions. 

Lastly, time-bound goals create a sense of urgency and facilitate progress tracking, ensuring that your team stays focused and motivated.

Steps to create a demand generation strategy in 2024

In 2024, staying ahead in B2B demand generation requires a strategic approach tailored to evolving market dynamics. 

So, here are the essential steps to build a successful B2B demand generation strategy.

Segment your target audiences

Understanding and segmenting your target audience is the foundation of any successful demand generation strategy. 

This involves identifying specific groups within your broader audience based on characteristics such as industry, company size, job role, and pain points. 

For example, a tech company might segment its audience into small startups looking for scalable solutions and large enterprises seeking robust security features.

Segmentation allows for more personalized and relevant marketing efforts. Tailored messaging and content that speak directly to each segment’s needs and challenges are more likely to resonate and drive engagement. 

Utilizing data analytics and customer insights can help refine these segments and ensure that your marketing efforts are precisely targeted.

Include a lead-nurturing strategy

A comprehensive lead nurturing strategy is vital for moving prospects through the sales funnel. 

This involves creating a series of targeted communications designed to engage and educate leads over time. 

Effective lead nurturing requires a combination of timely and relevant content delivered through the right channels. 

Marketing automation tools can help streamline this process by segmenting leads based on their behavior and sending personalized messages at the optimal time. 

The goal is to build relationships with leads, addressing their concerns and guiding them toward a purchase decision.

Create compelling content for your target audience

Content creation is a cornerstone of demand generation. Developing high-quality, relevant content that addresses the needs and challenges of your target audience is crucial. 

Content should be tailored to different stages of the buyer’s journey, from awareness to decision-making. 

Interactive assets such as webinars, live demos, and Q&A sessions can also enhance engagement and provide deeper insights into your offerings. 

By consistently delivering valuable content, you can establish your brand as a trusted authority and nurture leads toward conversion.

Use account-based marketing

Account-based marketing (ABM) is a highly effective strategy for targeting high-value accounts with personalized marketing efforts. 

ABM involves identifying key accounts and developing tailored campaigns that address their specific needs and pain points. 

It should be noted that ABM requires close collaboration between marketing and sales teams to ensure alignment and effective execution. 

Personalized interactions, such as targeted email campaigns, bespoke proposals, and direct outreach, can significantly enhance engagement and conversion rates. 

The bottom line is that ABM allows businesses to focus their resources on the most promising opportunities, maximizing ROI.

Analyze and improve your efforts

Continuous analysis and improvement are essential for the success of any demand generation strategy. Regularly reviewing key performance metrics such as lead conversion rates, engagement levels, and campaign ROI helps identify areas for improvement. 

For example, if a particular email campaign has low open rates, A/B testing different subject lines and content can help optimize performance.

In addition, utilizing data analytics tools can provide deeper insights into customer behavior and campaign effectiveness. 

By analyzing this data, businesses can refine their strategies, adjust their tactics, and ensure they are effectively meeting their goals. Continuous improvement ensures that demand generation efforts remain agile and responsive to changing market conditions.

Use interactive demos for demand generation

Interactive demos are a powerful tool for enhancing your B2B demand generation strategy. 

By providing potential customers with an immersive, hands-on experience of your product, you can effectively showcase its value and functionality. Interactive demos also help bridge the gap between awareness and decision-making stages, making it easier for prospects to visualize how your product can solve their specific challenges.

When it comes to B2B demand generation, interactive demo platforms (like Walnut) offer a suite of features designed to elevate your internal efforts. With these platforms, GTM teams can create customized, codeless demos that reflect your brand’s message and personality without requiring extensive R&D resources. 

By integrating interactive demos into your B2B demand generation strategy, you can provide potential clients with a dynamic, interactive experience that sets your product apart from the competition. 

This approach not only enhances engagement, but also accelerates the buyer’s journey, ultimately leading to higher conversion rates and sustained business growth.

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