SCORRCAST Short | Generate Demand

In this SCORRCAST Short, explore the difference between generating and capturing demand. Learn how to align marketing tactics with the buyer's journey, and why high-value content, scientific expertise, and thought leadership are key to generating demand—not just chasing leads.

Episode Transcript

(00:00):
Now today's episode of The SCORRcast is focused on the
difference between generatingdemand and capturing demand, and
I'm not sure that this isthought about enough when we're
building our marketing programs,understanding where our buyers
are at in their buyer's journey,and what tactics capture demand

(00:22):
versus generating demand, andthe high value content creation
and scientific expertise andthought leadership is something
that is going to generatedemand, whereas, you know, some
of the lead capture and leadgenerating activities like paid
search and paid LinkedIn aretrying to capture those

(00:43):
individuals that are alreadyready to to buy, or are, at
least, you know, halfway throughthe buyer's journey. So I think
you're going to really like thisshort episode of this forecast
on capturing demand versusgenerating demand. Enjoy this
episode. You let'stalk about the difference

(01:14):
between generating and creatingdemand and capturing demand. I
think this is one of the mostimportant topics in today's
environment, because, you know,we hear all the time the
questions of, what role canmarketing play? How can
marketing help support apipeline that right now maybe is

(01:39):
lackluster given what's going onwith the economy, given what's
going on in the B to B space,especially as we talk about life
sciences, we see projects beingpushed, projects being delayed,
projects being canceled,projects being handled in house.
How can marketing help supportthat pipeline? And how can they
really own a piece of this? AndI think it's so important. I

(02:01):
talked about this in a longvideo on Friday, that generating
and creating demand needs to bepriority number one for
marketers, rather than capturingdemand. And I think the
difference here is thatgenerating demand is what's
going to allow for that pipelineto be strong, 3060, 90, 180

(02:27):
days, 365 days down the line,and capturing demand is going to
be more of maybe that 15 to 30days, you know, in terms of when
that becomes an opportunity. ButI think when you think about it,
especially in today's day andage, today's market, when you're
thinking about capturing demand,the definition, if you will, of

(02:47):
capturing demand is a reallyunderstanding and capturing who
has buyer intent right now.
You're capturing the companiesthat are capable to buy today,
that have intent to buy todayand probably want to use you
today. And if you look at it,what maybe would you say? 5% 10%

(03:14):
maybe, maybe the Max would be 10to 15% of your target audience
is going to fit into that buckettoday, where they can buy, they
have permission, they havebudget, they have authority,
they have the timing. They'reready to change. They're ready
to outsource all the things. Andso when you look at your target
market as a whole, if you focusyour marketing on capturing

(03:38):
demand and capturing intent,you're only talking to 10 to 15%
of the organization or of yourtarget audience, and you're not
reaching everybody that you needto be reaching, and you're
certainly not positioningyourselves in a quality way.
Again, as we talk about 3060,90, 180 365 days down the line.

(04:01):
And I like to think of this, youknow, I think it's simple to
explain in the B to B terms, butI think sometimes looking at it
from a, b to c perspective isthe same thing. If I am right
now, if I am ready to buy a cartoday, my car has been
struggling. I have been out ofthe I've been looking for three

(04:22):
months now, I know my budget.
I've gone through, I figured outwhat my down payment can be. I
know what my loan is going tobe, and I've done all of that
research, and then all of asudden, today, I make a decision
to buy. I am in a much differentbuyer's journey than, let's say,
my fiance or somebody else whobought a car two years ago and
has no intention of buying a carover the next year, maybe even

(04:46):
the next 18 to 24 months. We aretwo different buyers. So if you
look at the market as a whole,let's say for B to C, maybe it's
20% maybe it's five. You're notsure, right? 5% of your audience
are ready to buy today. Youcan't mark. It to them you need
to market to the 95 to the 90%to the 85% I think, as we talk
about B to B, depending on yourofferings, depending on, as we

(05:09):
talk about life sciences, right,depending on the projects, you
might be looking at one to 2%one to 3% of your market is
ready to buy and sign a contracttoday. And so your job, then, is
to market and generate demandwith the other 95 97% 90%
whatever that might be. Andthat's something that I

(05:31):
certainly want to to encourageas we talk about that. And then,
you know, I think the biggerquestion becomes, okay? Alec,
great. We're supposed togenerate demand instead of
capture demand. How in the helldo we do that? Right? And that's
where we need to focus onactivities that are going to

(05:55):
really make it a no brainer thatwhen they're ready to buy your
company is top of mind. So theyknow your expertise. They know
your your experience. They knowthe scientists on your team.
They know that the case studiesthat you have, they know the
value that you can bring to thetable, right? And so I think
this is a focus on on runningthose micro events, doing the

(06:18):
panel discussions, the thoughtleadership, the scientific
articles having that combinationof owned media, earned media,
paid media, ensuring that theyknow you, like you and trust you
throughout that entire process.
So when it comes to time to buy,they're not even thinking about
it. They're saying, Yep, we'regoing to go with SCORR. Yep,
we're going to go with yourcompany. And so when you think

(06:39):
about that as the journey. Ifthey're not ready to buy today,
but they might be ready to buyin nine months, it doesn't mean
that you shouldn't market tothem. You should focus on making
sure that they know you and thatthey know the value that you can
bring to the table, making surethat they like you. They like
what your company stands for.
They like the benefits thatwould be brought to them if they

(07:00):
decided to work with you andthat they trust you. They've
seen your work in themarketplace. They have
referrals, potentially, they seeit from an owned and earned
media perspective. And so youkind of start to trickle all of
those different pieces ofcontent throughout the entire
cycle to ensure that by the timethey're ready to buy that that
buyer's journey is 75% of theway done. Now it's just contract

(07:23):
language, and we're going toalign and and the sales team is
going to be really excited,because that's a sales and a
marketing qualified lead attheir fingertips. So moral of
this two points to two pointtakeaway, okay, one, we need to
market to the 90% the 95% weneed to make sure that we're
marketing and we're focusing ongenerating demand for all of

(07:45):
those organizations, all ofthose companies, all the members
of your target audience that arenot ready to buy today but will
be down the line. And numbertwo, we need to focus on
generating demand through highquality content, through value
driven content and throughcontent that's going to show the
benefits and the results thatwill happen if they decide to

(08:07):
work with you to really makesure that you're top of mind
once they are ready to buy, oncethey become a qualified buyer
and they're ready to make thatmove. Thanks so much. Have a
great day.
You asalways. Thank you for tuning in

(08:32):
to this episode of The SCORRcast, brought to you by SCORR
Marketing. We appreciate yourtime and hope you found this
discussion insightful. Don'tforget to subscribe and join us

(08:53):
for our next episode. Untilthen, remember, marketing is
supposed to be fun.