Authentic Demand Generation: Growing Your Business without “Selling”
Written by Terri Maxwell
Often, one of the greatest challenges for conscious entrepreneurs is generating new business. For most business owners… that means selling and many of us have a fear of that.
If the thought of selling and promoting your business strikes fear in you, there is good news! There is a way to grow your business WITHOUT selling. Shift/Co uses a methodology, called the Authentic Demand Generation, that enables entrepreneurs to grow their business authentically, doing activities they enjoy!
The key is learning how to generate demand. Think of it as building a relationship with the buyer.
So, how do you generate demand?
First, understand the difference between demand generation and lead generation.
Second, don’t assume advertising creates growth.
Understanding the Power of Demand (versus Lead) Generation
Most businesses try to grow by “selling” versus creating demand. So, what’s the difference? Whereas “selling” focuses on the promotion of a product or service, “creating demand” requires an obsessive focus on providing value. It’s critical to attract new prospects to your website while engaging them with valuable tools, educational tips and by cultivating a relationship with them over time. You have to give them a reason to buy from you.
Additionally, creating demand requires finding ways to engage satisfied customers in telling your story. When a customer believes in your brand and product, they will share your message and serve as a referral machine. By giving your customers something of value that THEY can give away (special discounts, free tools, samples, etc.) you increase the chances that current customers will promote your product for you.
Shift/Co CEO, Terri Maxwell, cites two strategies to generate demand.
Slow down and shift thinking from action to impact. What impact are you trying to make? Is it selling stuff or growing profitably? Impact is the key.
Focus on differentiation. Differentiation isn’t just about “being different.” True differentiation is “being different in a way that matters to your target market.”
Don’t Assume Advertising Creates Growth
Small brands inadvertently assume that advertising creates growth and do not realize that promotions and discounts decrease profit and rarely drive consistent revenue.
Advertising is not effective at generating a return on investment. Especially for small businesses.
Every small business needs to grow, and every business owner makes the same fateful mistake – assuming advertising will singlehandedly change the company’s growth trajectory.
The truth is, your business should grow profitably, so discounting won’t achieve that objective. The key to small business growth isn’t more advertising. Period.
Small business growth is the byproduct of 3 things:
- Having a great product/service (which should remain your top priority)
- Understanding how to differentiate your brand in a crowded marketplace
- Implementing a consistent demand generation engine
Is your company growing? Maybe it’s time to consider a more authentic approach to demand generation. Create a growth strategy that includes building a relationship with your target market and cultivating value rather than offering discounts.
So, are you ready to learn how to successfully grow your business without selling?
Join us for one of our upcoming events to discover how you can grow your business authentically.
About Terri Maxwell
With the soulfulness of Wayne Dyer and the entrepreneurial spirit of Richard Branson, Terri is a world-class business growth expert, social impact investor, and serial entrepreneur whose purpose is to inspire potential. With her own money, Terri built a portfolio of purposeful companies, Share On Purpose, Inc., and now invests in and creates mission-driven start-ups.
In a career that spans more than 25 years, Terri has launched, owned, sold, rebranded or turned around more than 40 companies. She is known for her game-changing business models and personal transformation frameworks.
Everything she built came directly from a wellspring of perseverance and soulful resiliency, which she openly shares through her most recent purposeful brand, Shift/Co.