Okay racecar fans, you think the NASCAR franchise is profitable? I have another roadmap to success that’s not the Daytona 500. Let me introduce you to the Revenue Marketing 6, or RM6.
For the marketer today, it can feel like a whirlwind of change happening in our world. Our CFO’s want to know the ROI for our given budget. We’ve heard and tried out a marketing automation or an email system. Sales teams won’t pick up the leads we send to them. How can I win this race to financial accountability? I can’t afford to be last place….my competition is already ahead in prospect mindshare.
Welcome to Revenue Marketing, the right mix of strategy, people, processes, technology, content and results (RM6). The objectives of revenue marketing are: drop sales ready leads into the funnel, accelerate opportunity time to close, have a repeatable/ predictable/ scalable impact on revenue, and get you recognized for all your stellar work by showing contribution to revenue. Sound like a race you want to win?
Now, let’s look at our race again. Strategy is our course design. How many laps will it take? How should I situate myself against the other cars? How frequently will I communicate and get help from my pit crew? Just like you would consider what needs to happen to win in a race, you need a roadmap of how to win in revenue marketing. What are your goals for the business? Are you set up to meet them? How will you mitigate risk? How is your team structured? Activity without strategy will always be that- a cost related activity item.
Can you imagine a NASCAR race without the drivers, sponsors, pit crew, and fans? Absolutely not. It takes a team to enable revenue marketing. Just like the driver and his pit crew have to be joined at the hip, so does sales and marketing. This is crucial for understanding what a sales ready lead looks like for your company. Also, by having executive buy in (can you imagine NASCAR without sponsors?), you can better align your programs to the business’ goals.
There are so many processes that are involved in a race: tuning the engine, pit stops, gaining sponsors, driving style. The better you are at the processes, the more of an edge you have over your racing competitors. If you can run a pit stop in record time and handle your sponsors well, you have a distinct advantage over the other drivers. The same is true for the processes of revenue marketing. They involve such flows as life of a lead, the lead funnel, life of a client, testing, quality assurance, content creation, data management, to name a few. Can you imagine if you had to recreate every piece of content to use again? Marketing leaders perfect these flows because they know it enables them to function and respond to buyers quicker and with more relevance.
Technology is your engine. Sure, you can run the track by foot if you like, but it will not be done quickly and you won’t win. Technology is the enabler of the revenue marketer. It transports your content and messaging to the world while compiling data for you to then analyze to determine what’s working and what’s not. Technology is also the component for making, like an engine, your process an automated and not manual one. This gains you the efficiencies we all seek. Buying a technology is simply not enough- what if Jeff Gordon simply bought a car and didn’t adjust it for performance? Not optimal.
If technology is the engine, what is the fuel? Content. Just as fuel feeds the engine, content feeds your technology to attract buyers. By aligning content to the buyer journey to propel your prospects through their buyer’s journey, content becomes a strategic component. The old adage “garbage in garbage out” stands true here. If you have technology communicating content that is not strategically developed for your various personas for your solution, it will not elicit the responses and revenue you hope. In addition, great marketers know that content management and syndication are important areas to be able to effectively reuse well created content.
And finally- we’re on the last lap! Where did you end last race? What place are you now? Is there improvement? Results are the bread and butter of a revenue marketer. If you’re on the race track and don’t take any account of your placement before the last lap, you likely don’t have the time to course correct for first place. By having metrics throughout your programs and executions, you can see ahead of time if you are off track from reaching your end goal. For us, the revenue marketer, that goal is optimized revenue contribution.
Blog Written By: Alyse Qaqish
Alyse is the Southeast Regional Sales Manager at The Pedowitz Group. Her passion for helping clients identify and solve their most difficult problems lead her to the exploration of Revenue Marketing. Her background in highly complex sales cycles allows her to bring clarity and roadmaps to success for her clients.