Is your insurance content designed to generate demand? Or is it designed to generate leads? While demand generation and lead generation might sound similar, there’s actually an important difference between the two marketing strategies.
Demand generation refers to marketing that aims to build demand for a company and its services or products by making sure people know about it. This insurance content strategy focuses on building an audience and increasing awareness.
Examples of demand generation can include the following:
- A blog that provides useful content to consumers, whether or not they’re customers, and increase traffic to the website
- Social media posts that provide useful information and help spread awareness of the company brand
- Flyers and other print materials that serve to provide information on products and services
Lead generation refers to marketing that aims to generate sales leads – i.e., names and phone numbers or email addresses – that the sales team can follow up with.
Examples of lead generating insurance content can include the following:
- White papers or case studies that consumers can download after providing their contact information
- E-newsletters that consumers sign up for
- Webinars that consumers register for
- Online quotes or proposals
Which One Matters More?
Both lead generation and demand generation fulfill important roles. It’s impossible to say which one is more important because they are both very important. However, depending on your company’s goals, one may be better suited for your current needs.
Most of the time, though, companies will want to use both lead generation and demand generation pieces to reach consumers in different parts of the buying journey.
- Some consumers aren’t ready to purchase. They’re just doing some initial research, and they don’t want to be contacted by salespeople. You want these customers to be aware of your brand, but you don’t want to annoy them by being too pushy. They may be reluctant to provide their contact information. Demand generation tactics, including educational blog and social media posts, may appeal to this group.
- Some consumers are ready to purchase, or nearly so. They may have specific questions that a salesperson could answer. Once they find the right company, they may act quickly, so you want your sales team to move fast – before another sales team beats you to it. Lead generation tactics, such as online quotes, may be helpful at this stage, especially when combined with quick follow-up.
Sometimes, the line between demand generation and lead generation insurance content can blur. For example, a blog that’s main purpose is demand generation might include a call to action with a link to a white paper of other lead-generating piece of content. People who aren’t ready to move forward won’t click, but people who are ready will. So while lead generation and demand generation are different, they are often used in conjunction.
Successful Lead and Demand Generation Insurance Content Strategies
When starting a lead generation or demand generation campaign, you need to think about your goals and how you can achieve them.
- Put yourself in the consumer’s shoes. Think about what consumers want at different stages of the buyer’s journey. Give them the information they need.
- Don’t expect instant sales from demand generation. Demand generation is designed to increase awareness of your brand. This is important for your company’s long-term goals, but it won’t necessarily result in immediate sales.
- Consistency is key. Marketing tends to have a snowball effect. If you keep going, the cumulative effects can grow over time. If you stop, it might take you a long time to get back on track.
- Follow up with leads. Lead generation produces leads, not sales. To turn those leads into sales, your sales team needs to act quickly. One of the biggest reasons leads do not become sales is due to lack of same-day response and ongoing follow up. Most sales occur after eight to twelve contacts.
Great insurance content is an essential element of both lead generation and demand generation. Contact us for content ideas to help fill your pipeline.