In this episode of the Inbound4Cast Vince Moreau talks about why he believes demand generation doesn't exist.
Topics we cover:
- Vince believes demand generation doesn't exist - you can't generate demand, only identify and fulfill existing demand.
- He argues the definition of demand generation doesn't make sense - demand is wants plus needs, so you can't create new demand out of nothing.
- The one exception is creating a new problem that people then need a solution for, like the shampoo industry did in the 1950s.
- Vince argues that what works in "demand gen" is actually just branding and awareness, not generating demand.
- He believes most marketing departments don't do proper marketing - they skip researching the market and developing a strategy and jump right to tactics.
- Proper marketing has 3 components: 1) Research the market to understand customers' problems and alternatives 2) Develop a positioning and messaging strategy based on the research 3) Execute campaigns across channels.
- Vince argues against nonsense marketing jargon, saying it leads to confusion and failure. Words matter.
- He believes tactics like lead gen don't create long-term growth and are overhyped on LinkedIn by people trying to sell services.
- Mental availability and physical availability drive sales - being top of mind and easy to buy - not loyalty or demand generation.
- Vince argues AI like ChatGPT is a tool, not a shortcut - it needs human guidance and oversight to be used properly.
