Demand Generation is not just a word, it’s one of the most valuable marketing strategies to create awareness and generate interest among the audiences to buy the products or services. Also, it is one of the most powerful tools to generate leads for B2B (Business to Business) companies. Using this strategy, businesses can generate hype about their products or services by expanding their reach and driving traffic. As a result, this leads to growing the customer base by transforming awareness and interest into action.
So, let’s delve more into demand generation and let’s know what is demand generation funnel is about. The demand generation funnel is a visual representation of a funnel that portrays each stage of a B2B company’s buyer journey, from brand awareness to the purchase of goods or services. There are 5 different stages in this demand generation funnel. These stages are:
1.𝗠𝗤𝗟 – Market Qualified Leads
2.𝗛𝗤𝗟 – Highly Qualified Leads
3.𝗦𝗤𝗟 – Sales Qualified Leads
4.𝗔𝗚𝘀 – Appointments Generation
5.𝗦𝗮𝗹𝗲𝘀 𝗖𝗹𝗼𝘀𝘂𝗿𝗲𝘀
These five stages are essential for all B2B businesses who are planning to sell or offer their products or services in the market. Each stage demonstrates the client’s behavior and allows businesses to better understand and act on the level where they are losing clients or where they are gaining clients but failing to convert them into leads.
This article will provide insight on “An Effective Demand Generation Funnel for B2B Companies”.
1. MQL (Market Qualified Leads):
This is the first stage of the demand generation funnel – MQL market qualified leads and deals with brand awareness. Let’s assume for any product to buy the customer will search for the product. They curate the products based on the brand. So, this stage tells us the importance of brand awareness among audiences. This branding awareness of our products or services creates trust and loyalty among the audience.
2. HQL – (Highly Qualified Leads):
After knowing about the brand, the audience should show interest in our products or services. This building interest among audience is the second stage of demand generation funnel called as HQL Highly Qualified lead. In order to, build interest, the brand should show the features or specialist of their goods to the audience.
3. SQL – (Sales Qualified Leads):
Sales Qualified Leads SQLs the third stage of funnel talks about the desire to buy the goods or services. After generating an interest, the client will show the desire to have the product or service, and this shows that the client is high value lead that has maximum rate of conversion. The SQL client will generate a few inquiries about the product or service to know more about its specifications.
4. AGs – (Appointment Generations):
The fourth level of our B2B demand generating funnel is AG Appointment Generation. When a sales qualified lead displays a strong desire to learn more about the product or service and asks a few questions, this AG enters the picture. We then set up a meeting with SQL to answer their questions.
5. Sales Closure:
The last and the final stage of this funnel is sales closure, where the AGs after having a talk on call or a conversation through mail. Moves forward to buying the products or services offered by B2B business.
Therefore, demand generation funnel is an important strategy for all b2b companies in creating awareness, building interest, and ultimately converting leads into customers. As the key to driving growth and expanding reach, demand generation funnel ensures that businesses not only attract attention but also nurture prospects through the entire buyer journey, from initial awareness MQL marketing qualified lead to final sales closure.
We, at ResoluteB2B understand each of these stages of this demand generation funnel that foster stronger customer relationships and achieve higher sales conversion rates. We offer well-executed demand generation strategies that not only ensure the growth of a b2b business but also contribute to long-term success by transforming interest into action and prospects into loyal customers.
Want to get more insight about demand generation, so visit our website to find more information and interesting topics related to lead generation. Also, if you have any quires feel free to mail us at info@b2bresolute.com.
