Many organizations and marketing professionals use Lead Gen and Demand Gen interchangeably. But their differences, while small, are significant when it comes to measuring results and managing expectations.
For example, Demand Gen is more abstract (art) which can make it difficult to measure results whereas Lead Gen results are more easily quantifiable (science). We want to clear the air by taking a look at both strategies, what they have in common and, more importantly, what they don't.
Lead Generation focuses on capturing contact information for follow-up. A lead has a known data profile and can be counted, scored and traced to specific financial outcomes.
Demand Generation focuses on shaping perception and creating interest in your product or service. The goal is to engage the largest portion of your audience as possible and make them want what you offer.
Your objectives will help you determine which strategy is right for you. If you are already in the midst of your Demand Gen or Lead Gen efforts, use the following information to confirm you are using the strategy that will help drive the results you're looking for while managing expectations along the way.
Whether you're starting from scratch or are knee deep into your top-of-the-funnel strategies, knowing which strategy will work the hardest for achieving your objectives makes a difference. Your objectives will help guide you to the strategy that will help you reach your goals and manage expectations along the way.
If you have a known data profile of your audience and are looking to gather contact information for follow-up, look into the science of Lead Gen.
If you need to drive brand and / or product awareness, increase your reach and educate on your product and / or product category, explore the art of Demand Gen.