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The New Role of MTO – Marketing Technology Officer

As an executive, a key responsibility is the org structure of your marketing team and ensuring you have the right skills in the right place at the right time. Yet, as Revenue Marketing™ is a new endeavor for many marketing leaders, there may be some knowledge gaps to be filled. That’s why I authored a white paper called - The Revenue Marketing Center of Excellence. The paper presents an organizational model, with detailed role descriptions, for the company that is serious about changing marketing from a cost center to a revenue center.

Quick Synopsis

A Revenue Marketing Center of Excellence is led by a VP of Revenue Marketing, with two main groups reporting to her – a Demand Generation Center and a Marketing Operations Center. The Demand Generation Center drives programs, campaigns, creative, QA, a lead concierge service, content and best practices. The Marketing Operations center is responsible for technology, data management, process improvement, reporting/analytics and liaison services to all field marketing. The entire structure works with the field and global marketing teams to provide the optimized mixture of shared services, best practices, and ultimately, a tangible revenue result.

As we move into 2015, one thing has become very clear – technology is playing a key role in the transformation of marketing into a revenue center. Savvy heads of marketing should be working both to understand the key role of technology, and to learn how to optimize this stack of technology.

Need More Proof?

  1. A recent report from Gartner tells us that marketing automation will be the fastest growing category in CRM over the next four years and that by 2017, chief marketing officers (CMOs) will have a bigger IT budget than chief information officers (CIOs) -http://www.crmsearch.com/marketing-automation-social-marketing.php. This article should be a real wake-up call for any B2B marketing group who has delayed jumping into the marketing automation and social marketing fray. The message is clear – if you want to remain competitive, you’ll need to master these technologies.
  2. A recent article at CMO.com discussed the proposition from Forrester that companies need to hire a Marketing Technology Officer to manage all customer facing technologies - http://www.cmo.com/management/forrester-sell-idea-marketing-technology-office-cios?cmpid=NIR166. I loved this article, as it works well within the Center of Excellence framework and really emphasizes the need to effectively use technology as a game-changer for marketing.

Five Recommendations

For today’s CMO, the question is “How do you begin to understand all the technologies you’ll need in order to survive and thrive?

  1. Start with a high level review of the various technologies that are being used in companies that look like yours.
  2. Talk to other CMOs and heads of marketing about how they are addressing the optimization of technology.
  3. Get your team involved in the understanding and assessment of various technologies. You’ll probably find them more ready than you can imagine!
  4. Talk to the CIO and figure out how to work together – he/she knows technology and you know the customer and marketing – could be a match made in heaven.
  5. Finally, try something! You can pilot technology in a specific area of your business. This will help you with lessons learned while gaining alignment and excitement on the value of the technology.

As a marketing executive, what advice would you give to other executives about how they can become more in-tune with marketing technologies that are game-changers?

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student, avid CrossFitter and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation.

Contact: Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish

Damage Control in the Sales & Marketing Relationship

Damage ControlOne foundational aspect of Revenue Marketing™ is the Revenue Marketing Journey™. This four stage-model acts as a GPS as the marketing leader is transforming marketing from a cost center to a revenue center. It defines where marketing is and provides a direction for the journey.

Stages Defined

Marketers in the Traditional stage of the Journey are concerned with activities focused on branding and marketing communication. They act as a cost center and are measured on activities and costs.

In the Lead Generation stage, marketers are using e-mail and are creating leads for sales. The problem is that about 70% of these leads are never followed up on by sales. Marketing is still a cost center and the new metrics is number of leads sent to sales.
Revenue Marketing

With marketing automation and CRM, things get interesting in the Demand Generation stage. Marketing is transforming into a revenue center and are measured based on contribution to pipeline and closed business.

The big difference between the Demand Generation stage and the Revenue Marketing stage is optimization and RPS – Repeatable, Predictable, and Scalable. Revenue Marketers are revenue centers and have the ability to forecast marketing’s impact on revenue.

Where are you on this Journey? Take this quick 4-minute assessment.

The Areas Requiring Damage Control

One area of particular concern for today’s marketing executive is how to do damage control on the current sales and marketing relationship once marketing begins the move from Lead Generation to Demand Generation. In the Lead Generation stage, marketing has been using an email system to launch emails and provide leads to sales. This stage is often characterized by a “batch and blast” approach to email that produces leads that sales does not value. At this stage, sales and marketing each have a wildly different definition of a “lead”. In this scenario, numerous studies show that up to 75% of all leads passed to sales never receive any kind of follow up. While the idea of giving leads to sales sounds good, this scenario provides a snapshot of the issues in execution, understanding and alignment.

Fast forward. Marketing catches the Revenue Marketing fever and begins investing in technology (marketing automation integrated with CRM), training, processes, etc. to move into the next stage of the Revenue Marketing Journey – Demand Generation. In this stage, marketing can finally provide the kind of leads that sales has been asking for – after all, they are now qualified! There is one big problem. You had a meeting with sales to explain what you were doing and they really didn’t believe you. Their comments to you were:

  • You have been promising “qualified leads” for years and we continue to receive junk.
  • You don’t understand sales.
  • You have no accountability for a number like we do so you are not really vested in our success.

For many marketing leaders, this requires serious damage control. You have to “un-do” and “re-do” the perceptions of marketing in the revenue equation. This happens through your ability to build sales advocacy for Revenue Marketing, beginning with the Chief Sales Officer (CSO). One of the best ways I’ve seen this advocacy get started is by marketing applying Revenue Marketing to a micro-segment (a specific territory or sales team) of a key sales initiative as a proof point. This approach educates the CSO and the sales team while producing financials that sales relates to. Your baseline metrics should include short-term metrics (how many appointments got set), medium-term metrics (how many opportunities and pipeline value), and long-term metrics (how much business was closed from the program). This approach also allows marketing to work closely with a segment of sales to ensure success.

Conclusion

Your job as the marketing executive leading your company on the Revenue Marketing Journey is to build strong advocacy with sales leadership. In order to build that advocacy, you must understand the damage already done in the relationship and build accordingly. Not addressing this issue head-on ensures a continuation of the cold war between sales and marketing and will seriously undermine your Revenue Marketing success.

What have you seen as key action to damage control? I’d love to hear about your experiences.

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student, avid CrossFitter and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation.

Contact: Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish

Revenue Marketing™ Provides AWESOME Sales Intelligence

RM sales intelligenceOne of the key benefits of Revenue Marketing™ is marketing’s ability to set up and provide digital intelligence to help sales shape approach and pursuit of business. Yet, it is still the most often overlooked aspect of Revenue Marketing.

Hear Jeff Ramminger of TechTarget discuss the value of this digital intelligence to sales.

Let’s get to the heart of what I am talking about. New tools provide a dashboard, integrated with a salesperson‘s CRM, that ranks the most interested customers – those who exhibit the most desirable buying behaviors. This way, salespeople can easily prioritize their calling activities toward the most qualified prospects. This is a real- time dashboard that salespeople can check throughout the day in addition to receiving alerts vie email, Blackberry or smartphone.

Further, salespeople can easily discern the prospect‘s interest and be prepared to facilitate the education process with the right message at the right time. Prospect digital behavior is displayed in an easy-to-read line-item and graphical format. Before the salesperson picks up the phone, he/she can easily review the prospect’s historical activity and demographic data to determine the overall quality of the lead and basis for the conversation.

“In the old days, when someone told me to call them in 90 days, all I could do was put in a reminder to call them back. Now I can enter them into a nurturing campaign, stand back, and track their behavior.”

The power to have insight into the buyer‘s interests is a game-changing capability for every sales person, no matter what kind of sales cycle. The insight provided by these tools allow sales people to pick and choose who, and how, they will attack, based on empirical evidence of their behavior.

“My cold calling has decreased by 60%.”

Before, cold calling was the only way to reach someone. Now, your sales team can see that they filled out a form, visited your web site, opened their email and researched you online. Sales people can reach 100 people with one message, and can track them individually.

“It‘s like I am my own marketer.”

By reading prospects‘ online behavior, salespeople can also gauge the strength of certain opportunities over others and more quickly determine which prospects are most likely to buy. This insight and automated response reduces lead waste, to which salespeople are typically the biggest contributors. Forecasting also improves, because both the salesperson and manager can now see how interested (or uninterested) an opportunity is behaving.

“It helps me learn to get comfortable with radio silence, which can be a scary thing when you have no insight into what a prospect is doing. But now I have more insight about what is going on behind my back in the opportunity. I can read the signs.”

This kind of intelligence impacts the way salespeople work opportunities. To build credibility within a prospect‘s organization, salespeople can include multiple contacts who are not directly involved in the sales process by adding them to various nurturing campaigns to educate them about their solutions. This is an effective way to gain access to all the key stakeholders and decision makers, especially when working with gatekeepers.

Conclusion

Every year I say this will be the year that marketing and sales begin to work together to effectively use this digital body language in sales pursuits and I do think 2015 will be that year. Providing this kind of valuable information helps build a true partnership between sales and marketing.

What are you doing with sales enablement? I’d love to hear about your experiences.

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student, avid CrossFitter and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation.

Contact: Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish

Marketing Automation Stinks If…

…if you expect it to solve all of your problems for you.

If you’ve been researching marketing automation solutions, you have likely been bombarded with messaging that would lead you to believe marketing automation is going to solve all your problems – and solve them now.

Now, don’t get me wrong. I love marketing automation. I think it is a critical tool in any modern marketing department. Just don’t think that you will flip a switch and, all of a sudden, your marketing woes have vanished!

It’s far too easy to get wrapped up in the hype: “Marketing automation proves revenue contribution by marketing! Marketing is sending super-qualified leads to sales and sales now kisses the very ground the marketing department walks on!”

Marketing automation certainly allows you to achieve some lofty goals. What it doesn’t do is achieve those goals for you. No matter how good the marketing automation system, it can’t fix broken processes.

So, before you take the leap into marketing automation, do some analysis of your department and your processes:

  • Do you have the staff to effectively operate marketing automation? If not, do you have an agency you trust to help?
  • What are the main sources of tension between marketing and sales? What can you do to improve that relationship and get everyone on the same page?
  • What is your approach to email marketing (and other channels)? Are you prepared to change to achieve better results?
  • What is your sales model? Do you know what it takes for a lead to be ‘qualified’?
  • Are you and your organization ready for change? What can you do to ease the transition towards a new marketing model? (Check out Evan Whitenight’s recent post here for some great ideas in this area)

Starting to think about some of these basic questions concerning how your business operates will put you on the right track for marketing automation success. By recognizing that marketing automation is a (powerful) tool, you can avoid the disillusionment that is sure to come when you view it as the solution to all your problems.

Blog Written By: Bill Cozadd

Bill is an Associate Revenue Engineer at The Pedowitz Group. He is a Marketo Certified Consultant and has been with The Pedowitz Group since 2013. Bill loves to help clients leverage technology to achieve their marketing goals. 

Why Gardening is A Lot Like Revenue Marketing™

I am an avid gardener. As I pulled on my gloves and got out my trusty tools, it dawned on me that gardening is a lot like Revenue Marketing™.

Sound like a bit of a stretch? Think about it. Gardening and Revenue Marketing both have similar requirements for success:

Gardeners have to find the perfect spot to put our gardens.

  • Revenue Marketers™ realize success more quickly when they pick the perfect partner (RM agency, technology, etc.) to aid in their journey.

Gardeners prepare the foundation / soil for the plants. Do we want to incorporate top soil, garden soil, water retaining products… ?

  • Revenue Marketers decide what type of campaign(s) they will want.

Gardeners till the ground to incorporate all the good nutrients and throw out the bad (rocks, dead plants, too many leaves).

  • Revenue Marketers pull in leads, content, etc., and start vetting the good and getting rid of the bad.

Gardeners pull together our best selection of plants to yield an abundant harvest.

  • Revenue Marketers pull together the best content as a basis to drive the most profitable campaign(s).

Gardeners perform ongoing maintenance – water, fertilize and weed the garden.

  • Revenue Marketers perform ongoing campaign tasks – send out emails, lead scoring, forms, KPIs and reporting, etc.

Gardeners nurture our plants to grow strong, healthy plants that will start to produce fruits/veggies and throw out the weak plants.

  • Revenue Marketers nurture leads that will produce strong, sales-qualified leads (SQLs) and throw out the bad leads.

Gardeners pick our produce when it is ripe and celebrate our horticultural success.

  • Revenue Marketers close deals and celebrate revenue success.

Both produce scalable, repeatable results! What do you think?

Blog Written By: Laura Yeste

Laura is a native of everywhere U.S.A., as a Navy brat. Upon her move to Atlanta, Laura became a Marketing Specialist / Trade Show Manager for several international companies such as Wilkinson Sword, Norrell, and Scientific-Atlanta/Cisco. Through her work in the national and international marketing sectors, Laura honed her organizational, multi-tasking and communication skills, which she now brings to The Pedowitz Group.

Last Mile Delivery with Marketing Automation

Last Mile Delivery Marketing AutomationWe have a client who has built an entire business on the concept of last mile delivery. You’ve probably experienced this type of service if you’ve ever bought something from Lowe’s, Home Depot or Ethan Allen. This service is responsible for delivery and custom setup of products you have purchased. Your washer and dryer set is delivered, installed, tested and working before the delivery company leaves. That bedroom suite is hauled up the staircase to the bedroom, set up and placed exactly where you want it to create the perfect space. This type of white glove service is the only link in the supply chain that directly touches the customer. It represents a unique opportunity to create an experience that leads to customer delight, additional business and loyalty.

The last mile concept is a key ingredient to marketing automation success because it helps to deliver the ultimate promise of marketing automation and because it takes into account the concept of sales as the ultimate customer in a “lead” supply chain ecosystem.

Marketing Automation as the Backbone

The promise of marketing automation is that marketing will become a revenue-driving element in the company’s overall revenue engine. We call this Revenue Marketing™ and further define it as transforming marketing from a cost center to a revenue center. Marketing automation is the technology backbone of this transformation.

Inherent in the definition of Revenue Marketing is the concept of sales as the ultimate customer in a “lead” supply chain ecosystem. Once marketing begins the shift to drive revenue, shifting their focus to sales is critical. Just like marketing creates personas for the people they market to, marketing needs to create the persona of the sales team too understand who they are and what they need.

Finally, marketing is also responsible for building a “lead” supply chain ecosystem. This is often called the lead funnel and it is characterized by repeatable and predictable conversion rates at different points in the lead supply chain, and how the overall lead supply chain is scalable to additional markets and bigger volumes. Again, marketing automation is the backbone of this lead supply chain ecosystem.

So, how valid is this analogy? How are elite revenue marketers using marketing automation to treat sales as the ultimate customer, to build a “lead” supply chain and deliver last mile service? And what impact is this having on revenue and the company?

Four Last Mile Strategies

As part of the research for my book, The Rise of the Revenue Marketer, I recently conducted 24, one-hour interviews with marketing executives. This wasn’t a random sample. It was a carefully selected group of elite revenue marketing executives who are using marketing automation to help transform their marketing organizations from cost centers to revenue centers. A strong and recurrent theme across all the interviews was the absolute requirement of treating sales as the ultimate customer in a “lead” supply chain ecosystem by creating an ongoing series of delightful customer experiences, powered by the optimal use of marketing automation. That’s a mouthful!

To make it easier to digest, here are four Last Mile Strategies you can put into action using your marketing automation system.

  1. Start with the first mile
  2. Deliver what the customer asked for per the signed order form
  3. Be responsive to customer changes
  4. Ensure client satisfaction with every delivery

Start With The First Mile

Starting with the First Mile refers to keeping the customer first in everything you do. From a Revenue Marketing perspective, this emphasis is essential and many of the marketers I interviewed were almost rabid around their focus on the sales team as the ultimate customer. More importantly, when marketing steps up to the plate to take revenue responsibility, the focus shifts immediately. Sally Lowery, of Appia, understands this dynamic very well.

“When you take responsibility for revenue, it’s a very different conversation than we want to buy this marketing automation system and put out these campaigns,” said Sally. “I don’t talk about leads anymore with sales – I talk about revenue and how to meet our joint acquisition and revenue goals. As you get that alignment with sales, everyone is speaking the same language and sharing the same goal. Then the vision is more easily accepted at the C-level and everyone gets really excited about it.”Sally Lowery, Serial Revenue Marketer and Senior Director of Marketing, Appia

Deliver What The Customer Asked For Per The Signed Order Form

Sounds simple, doesn’t it? Yet, for many marketers, they simply do not understand what sales needs, they don’t understand the lead supply chain and exactly what needs to be delivered to the sales team. One of the great features of marketing automation is the ability to score a lead based on their demographic data (company size or vertical) and online behavior (what they downloaded or what page of your website they visited). Lead scoring provides the ability for sales to tell marketing exactly what they need and allows sales to sign the order form on the purchase. Now this can only happen if you create lead scoring in a joint activity with sales. Eva Tsai, at Citrix, has won awards for her work in lead scoring. Eva and her team reviewed four years of online behavior to create a structured, validated, and predictive model of online behavior that was translated into a highly successful lead scoring model.

“Once you have the data and access to the digital body language, you should be able to do a regression analysis correlated to conversions. It’s not rocket science. Honestly, I am surprised that we have won awards for this work. Why would anyone do otherwise?”Eva Tsai, Director of Marketing Operations at Citrix

The concept of the order form is also important to Revenue Marketing success and it translates to Service Level Agreements signed by both marketing and sales. Just ask Liz McClellan, at PGi. One of her first actions once she came into the company was to talk to sales about helping with revenue and lead quality. To operationalize this conversation, both in the marketing automation system and in process, Liz set up a two-day workshop attended by both sales and marketing.

“To kick it off, sales and marketing leaders attended a two-day workshop and came up with 16 agreements on the lead management process. They hammered out what a lead looks like, who should get it and when, how sales will work it, and the results they expect to show. Today, these are called service level agreements (SLAs) and are an integral part of the sales and marketing infrastructure. Sales and marketing meet monthly to talk about results and how to tweak and improve the process.”Liz McClellan, VP of Field Marketing, PGi

Be Responsive To Customer Changes

Just because you’ve ordered that bedroom suite and have an idea for where to place it, doesn’t mean there might not be a better way once you actually get it in the room. The same thing applies to campaigns you create in your marketing automation system. Even if you work with sales to define what they need, once the campaign starts, sales might gain a better understanding of what is working and what is not. This is often a key role played by a telemarketing group, a team that sits between marketing and sales. Your ability to quickly adjust based on this feedback is critical. Kristen Wright, at Pinstripe, uses telemarketing to quickly respond to changes.

“With the complexity of our industry and how high touch our salespeople are, bringing tele-services inside improved the hand off and maximized use of our technology. Now we actually research before calling, capture accurate notes and put leads in the right nurture track. We use social media, email and the phone as channels, as opposed to focusing so much on just the phone.” Kristen Wright, VP of Marketing at Pinstripe

Ensure Client Satisfaction With Every Delivery

In the beginning of this article, I began by talking about one of our customers and how they have built their business around last mile logistics. Key to their success is also ensuring client satisfaction with every delivery. They use technology to provide a survey within 15 minutes after every delivery is complete, they run their business based on these customer evaluation scores, and further, everyone’s compensation is tied to these key metrics. For the marketer using marketing automation, the best way to score is to measure metrics that matter. The combination of marketing automation integrated with CRM allows key measurements such as: Number of leads accepted by sales, conversation rate of leads to opportunities and close, and finally, percentage contribution to pipeline and closed business from marketing. Finally, tying marketing compensation to this ultimate measure of client satisfaction is the key factor in changing behavior. Patty Foley-Reid, at Iron Mountain, knows this first hand.

“We have an additional incentive compensation for hitting our revenue number that is anywhere from 10-20% of our salary. We’ve been doing this for three years now and it’s a little scary because it’s so highly dependent on the data, but it has made everyone hyper-focused on revenue.”Patty Foley-Reid, Director of Inbound and Content Marketing at Iron Mountain

Conclusion

I’ve seen many marketing teams do a fantastic job of producing qualified leads and have next to nothing to show for because that “last mile” was not set up properly. What have you seen? I’d love to hear about your experiences!

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student, avid CrossFitter and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation.

Contact: Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish.

#1 Predictor of Revenue Marketing Success? Synergy with Sales

Marketing & Sales Synergy Model

“Sales Alignment” is the term most often used to describe the pivotal sales and marketing relationship, but if you closely examine it in the environment of successful revenue marketing, a more appropriate term is “synergy”.  Let’s look at the definition of each term and then more fully examine this critical relationship for all revenue marketers.

  • Alignment: 1. Linear or orderly arrangement, 2. Positioning of something for proper performance, 3. Support or alliance.
  • Synergy: Synergy comes from the Greek word synergia, meaning joint work and cooperative action. 1. Synergy is when the result is greater than the sum of the parts. Synergy is created when things work in concert together to create an outcome that is in some way of more value than the total of what the individual inputs is.

Which definition sounds more like a model for relationship success and for revenue marketing success? Of course, it’s synergy! Synergy is the end-state description of your relationship with sales so let’s further explore what this relationship looks like.

Hear how Megan Eisenberg, VP of Demand Generation at DocuSign, achieved synergy with sales. Click here to watch the video.

What Does Synergy Look Like?

More specifically, what are the behaviors we can observe that characterize a synergistic marketing and sales relationship? Here are five characteristics we often see in successful revenue marketing organizations.

  1.      Both sales and marketing use a common revenue language.
  2.      Both sales and marketing are vested in each other’s success.
  3.      Both sales and marketing are proactive in their relationship.
  4.      Both sales and marketing work together as one revenue team towards achieving shared revenue-oriented goals.
  5.      Both sales and marketing have goals and compensation tied to shared revenue metrics.

The Marketing and Sales Synergy Model

Now that we know what a synergistic relations looks like, let’s use a model to understand how to achieve it.

Education

The first step in creating any relationship with sales is to educate yourself and your team on all things related to sales. Trying to create a relationship with sales without understanding their world simply does not work. More specifically, you need to understand the sales goals, be a part of sales initiatives, understand the sales process, know the sales team and educate yourself on the pipeline. The only real way to do this is to meet with sales, join sales meetings and go on calls with them.

Revenue Language 

Like sales, revenue marketers must begin embracing the language of revenue. Typical revenue marketers don’t talk to sales about pretty fonts or newsletters; they talk to sales about opportunity pipeline, quota and revenue. They ask sales questions like, What number do you need to hit for your new acquisition target? What does your current opportunity pipeline look like and how can we help? What is your average deal size and how can we help grow that? Why are opportunities not closing and how can we help? 

Communication

As a leader, to be ready for revenue marketing and to engage in a relationship, you need an effective vision and a game plan. It’s up to you to set the vision, create and communicate the game plan, collaborate on the game plan and get buy-in to this game plan.

Creating and gaining commitment to a jointly developed game plan takes time and repetition. You can’t just walk into a meeting and expect sales to “get it” in a 30-minute presentation. After all, you’ve probably spent months attending conferences, reading white papers and educating yourself about the benefits of revenue marketing. You’ll need to plan for multiple communication methods, meetings, and events to share your vision and craft the ultimate game plan.

Shared Goals

I can’t emphasize strongly enough the importance of sales and marketing having shared goals, aligned compensation and complimentary organizational structures. In the world of sales, no revenue accountability for marketing means zero respect from sales. When we take a look at the most successful revenue marketing machines, we see that marketing has the same kinds of goals as sales. If sales has a number tied to new account acquisition, so does marketing. If sales has a number for enterprise accounts, so does marketing. If sales has a number for a new product, so does marketing.

Conclusion

Following this simple model will help marketing understand and become true revenue partners with sales.

How have you achieved that critical synergy with sales and what has been the result? I’d love to hear about your experiences!

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation. Contact Debbie at Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish 

Build Your Own Revenue MarketingTM University

Michelle Chiantera REVTalk VideoImagine you’re the CMO. You have bought into Revenue MarketingTM hook, line and sinker and now you’re ready to get going. How do you educate a large and globally dispersed team?  What would an optimal curriculum look like and where would it come from? How would you structure training and ensure transfer of knowledge?  You need to consider building a Revenue Marketing University.

A Revenue Marketing University is the vehicle for delivering and certifying on all Revenue Marketing best practices both from an industry standard and from a company perspective. It provides education to all key stakeholders from executives to marketing to sales and it’s not one-time training. It’s an on-going curriculum that helps all key stakeholders grow in their knowledge and mastery of Revenue Marketing practices. It is the vehicle that takes the best practices from the market and merges them with your own internally developed best practices. 

I know of four large companies who are building out global Revenue Marketing program and until colleges get a clue, I see this as a major trend.

Michelle Chianterra at Cisco tells the story of how they built a global Revenue Marketing movement based on education and training. Watch the video here

One of my biggest platforms is who is educating the B2B marketer today and it certainly isn’t undergraduate or graduate programs. CRM, marketing automation and B2B marketing principals are lightly covered in most higher education programs and practically nothing about Revenue Marketing is taught.  I do a class once a year for the Mason School of Business in the MBA program at The College of William and Mary. I teach all about Revenue Marketing and it’s amazing how little these young MBA’s know about the topic.  It’s also amazing how they gobble up this new knowledge!

For your team, they are getting on the job training that consists of the last conference they attended, the last meeting they attended or the last article they read. 

Examples of curriculum include virtual or live courses on the Big Idea – courses that present this new role for marketing and what it means. It includes best practices courses that could be anything from lead management to integrated campaigns. It includes senior level executive forums focusing on how to run a marketing group with ROI, and it includes training on systems. These are only a few examples of needed curriculum for any Revenue Marketing University.

Without a well-planned curriculum resulting in a well-trained global marketing and sales team all speaking one language, what do you think your chances will be for long term success? Only as good as the last article someone happens to come across.  By creating a culture of education and training, you invest in your most valuable resource, your people. This investment delivers high dividends over time and is the key to unlocking the full potential of your organization.

What needs to be in this curriculum? I would LOVE to hear your thoughts!

One of MY goals in education is to post 30 articles in 30 days – all topics for marketing leadership responsible for transforming marketing from a cost center to a revenue center (Revenue Marketing). This is post #5!

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation. Contact Debbie at Debbie@pedowitzgroup.com or http://www.linkedin.com/in/dqaqish 

Physical Therapy for Marketers

I’m in physical therapy twice a week for plantar fasciitis – and I’m told it will likely be 3-6 months before I will be really better and back to some version of normal. Because I’d rather have that be 3 months than 6, I am religious about doing the exercises the PT’s give me.

And I hate them.

I shake. I tremble. I try to remember to keep breathing through my exercises, not matter how much they hurt. I recognize how weak I am and look forward to the day when I am strong.

But I’m doing every single exercise that the PT’s give me every single day because I have a long-range goal and a vision of what can be.

Sometimes it feels like I hurt more now than I did before I started PT, but in a while I’ll feel better. Even before that, I’ll see incremental progress. I am already better at some of the exercises than I was 2 weeks ago.

While sometimes marketing and sales alignment can seem like a Sisyphean task, there is incremental progress for that as well. Each agreement you can make between teams, each SLA determined, the setting of a lead score threshold, the buy-in from sales, the attainment of a revenue goal – every tiny piece falls into place until you have a strong, thriving whole.

We often say that Revenue Marketing™ is a journey. It is, and it takes time. It might even be a bit painful – because you are exercising and developing new Revenue Marketing muscles. Take a moment to look at where you are now. Look at where you were 3-6 months ago. If it’s better, you’ve made progress. If it’s not, start thinking about where you could be 3-6 months from now if you do a little work every day and make small improvements. Be religious about making progress. Be determined. Don’t forget to document where you are today so you remember in the future how far you’ve come – and where you still want to go.

In 3-6 months I will have abs of steel from the core work. My feet won’t hurt every day. I’ll be able to run and walk and move around quickly again. Those spiky pains in my toes will be gone. I’ll have done the work and put in the time, every single day, to reach my goal.

What improvements will you be able to see in 3-6 months if you do a marketing and sales alignment exercise every day?

And if you need a personal trainer to reach your Revenue Marketing goals, let us know.

Blog Written By: Emily Salus

Emily Salus is the Marketo Team Leader and Director of Customer Success at the Pedowitz Group. She has over 20 years of experience in Marketing, PR and Sales. Emily is a certified Marketo technical consultant, providing Revenue Marketing services and strategy to enterprise clients and best practices and training to the SMB market.

Why I Got Fired…A CMO’s Tale

Chief Marketing Officer CEOs of today’s B2B organizations are becoming laser focused on profit, execution of strategy and top-line revenue growth and they expect every department in the organization to be aligned with these key goals. For many, the area that gives them the most heartburn – based on budget and non-goal alignment – is marketing.

For CMOs, this could mean big trouble. If your marketing organization isn’t making a measurable impact on revenue, your job could be in jeopardy.

This article presents three key questions you should ask yourself as a CMO to determine if you need to change your strategy.

Here’s your first question:

Question #1: How aligned is marketing to the organization’s overall revenue goals in a direct and measurable way and not the “fuzzy math” kind of connection?

  • If you can honestly answer that your marketing goals are directly aligned with those of the business, ask for a raise!
  • For everyone else, get in step – and fast! Executive alignment is as basic as it gets.

Easy question, right? Now let’s move on to the next question to help you determine if you are on the right track.

Question #2: When you show up to the monthly board or executive committee meeting, what kind of metrics do you present? (I know the mention of this monthly presentation probably brings on another round of heartburn, but try to focus on the question.)

Are your metrics typically activity-based?

  • # of impressions
  • # of ads
  • # of tradeshows
  • # of e-mails sent
  • % of Opens, click-thrus and conversions
  • Costs

Most CEOs call these metrics, “Who gives a flip metrics!” If you are only presenting these kinds of activity-based metrics, you need to change your approach and change it now! This is old school for a B2B organization given the new technologies available today that allow marketing to make a direct contribution to top-line revenue growth and to do it in a repeatable, predictable and scalable fashion.

Or, are your metrics revenue-focused?

  • # of Sales Ready Leads (SRL) sent to sales
  • % Conversion of SRL to opportunity
  • % Conversion to close
  • % Contribution to pipeline from marketing
  • # Days to close
  • ROI

If you are already reporting revenue-focused metrics, again – ask for a raise! Chances are that you are currently being recruited because of your skill mix and experience! CMOs who are focused on revenue metrics are generally using the optimal mix of people, process and technology to grow top-line revenue.

Hopefully, you are already doing these things and hitting it out of the park every month. But if you are still confused about your role, consider this final scenario:

Question #3: You are putting together your 2015 strategic plan. As CMO, which of the following are the top strategic initiatives you will present to the executive team?

  • Improve use of search.
  • Improve conversions.
  • Improve use of social media.
  • Create new website/messaging/colors.
  • Grow number of leads sent to sales.
  • Improve number of impressions from ad spend.

While these are all valid concerns for any marketing department, compare it to the next set of answers. The above initiatives should only be part of the plan – especially if your company has big revenue growth plans in 2015. If your answer stops here, you won’t have job security for long! Consider these strategic initiatives instead:

  • Execute a revenue marketing strategy in which marketing will grow its contribution to the sales pipeline by 200% through marketing sourced, highly qualified leads; improve opportunity velocity by 20%; and impact overall deal size by 11%.
  • Create a marketing funnel and process with standard conversion rates from inquiry to close so marketing can begin forecasting revenue impact – not just reporting on past history.
  • Conduct a skills gap analysis on my current team around this journey to revenue marketing. What skills do you need to add, replace or train?
  • Re-organize the marketing organization around the revenue marketing competency.
  • Develop the key processes and tools across sales and marketing to help us drive a repeatable, predictable and scalable revenue impact on top-line growth.
  • Select and implement or improve the use of your revenue marketing solution. NOTE: There is an entire new generation of technologies out there called marketing automation, demand generation, revenue performance management and Revenue Marketing (a term coined by The Pedowitz Group) to help marketing directly contribute to revenue growth. This is NOT simply CRM or fancy e-mail systems.

So, how did you do? For the B2B enterprise organization, marketing’s role should now be to fully participate in the revenue discussion. Today’s B2B CMO should sound like a VP of Sales – not the head of a creative agency. If you are not stepping up to this new reality, your job may be at risk. Are you ready?

Given the current round of CMO’s movement, I thought I would check in and find out what you are seeing in the market?

The first 5 people who email me and tell me one thing they learned from this article will receive a copy of my latest book - Rise of The Revenue Marketer.

Blog Written By: Debbie Qaqish

Debbie Qaqish is a Principal and Chief Strategy Officer at The Pedowitz Group. She is the author of Rise of The Revenue Marketer, a doctoral student and is passionate about all elements of Revenue Marketing – especially the leadership required to drive transformation.

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