The first is Demand Capture. The second is Demand Generation.
Every Facebook ad, print ad, sales pitch, and event sponsorship fall into one of these two buckets.
Demand Capture is about getting in front of people who are already looking for you.
The demand is there. People are searching.
You just simply need to get in front of them.
This is always the easiest sale. And it’s where most of the opportunity lies for many businesses.
If you’re a local business, a small mom-and-pop shop, or a service based business, this is where you can win.
Get in front of the people already looking for you. Your dollars spent here are worth more and you’ll usually get a better return.
Demand Generation is about convincing people they need you.
It’s about making them want what you’re offering.
It’s about showing them what their business, their life, their style, their relationships, or their health could be if they just buy your product.
Demand generation is powerful. It’s how brands like UnderArmor, Chipotle, Nike, and Coca-Cola have been built.
But it’s expensive. It’s tough. It requires a ton of work. It requires saturation to do it well.
This is not “low hanging fruit”, but I can pay off big if you commit.
If you have an amazing content team, can make viral videos, and have a killer strategy, it can be done.
But it’s not going to happen without a lot of work.
So before you spend another dollar on marketing, ask yourself, “Am I trying to capture demand that already exists or am I trying to create demand from nothing?”
The answer to this question will inform which channel, which message, and which strategy you use.
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