How To Create Future Demand

With a solid understanding of the opportunity for growth, and a value proposition that sings to potential customers, the next step is to communicate to potential customers that you are their best option in the category.

Sounds simple, but in truth it requires planning and consistent execution and a two-speed approach.

Why two speed?

Well, some people will be in market now and so your aim is to persuade them to buy from you. At the same time, there will be plenty in your target who are not in market right now and so your aim there is to create future demand by being memorable and relevant for when they are in market.

It's been shown by the LinkedIn B2B Institute and the Ehrenberg-Bass Institute that at any given time, of your total target market - people who will buy from your category - only 5% are in purchase mode at any given time.

Add to that the simple common sense fact that people don't tend to buy from brands they do not know, and marketing academics having shown a huge (0.67 from a scale of 0 to 1) correlation between awareness and purchase, and so the focus on the 95% is clearly crucial.

I look at it as the 5% as being immediate cashflow, whilst the 95% offer the potential for sustainable business growth. 

I'd always advise to set SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound) objectives around that growth too, so that you can qualify the investment required and the intended outcome.

So as well as short term activations, promotions and lead generation for those in market you need to deliver brand-led campaigns and communications to increase awareness and give your business the best opportunity of being bought by those not in market right now.

The key to success here is to be creative, memorable and consistent with your communications. 

Each campaign builds on the previous. Each time your target customer sees your brand and understands its value to them, you are increasing salience and the likelihood of being considered a good option when their time to purchase comes.

One final thing to add is that people don't really care about or think about brands in the way we do our own brands, so they won't get as bored of your campaigns and messages as perhaps you would. So let your messages wear in, and don't fret about them wearing out.

A good marketer can build a marketing plan to keep your business front of mind, memorable and relevant when your ideal customers are ready to buy.