I had experiences with two clients this week that reinforced my beliefs in Revenue Marketing™; these both relate to Inbound Marketing.
At one client, we discussed how the events marketing team and the website people didn’t really see themselves as Revenue Marketers and didn’t measure themselves in revenue terms, despite having an annual revenue goal.
At the other client, who is in the middle of a major shift to Revenue Marketing, the regional marketing teams continue to spend most of their time on events because that is what sales expects of them. In both cases, giving these folks annual revenue goals has not been sufficient to bounce them out of their ruts.
Inbound Marketing has to change to Inbound Revenue Marketing. What would you do to alter the behavior of these teams?
Here is what I would do:
I would tell the event people, the website people and the regional marketers that they are no longer measured on the number of net new leads in the database. Their new MONTHLY metric is the number of sales qualified leads (SQLs). Their first reaction will probably be, “YIKES, how are we supposed to ensure that a new web lead or event registrant gets nurtured to marketing qualified leads (MQL) readiness and is safely routed to sales?”
My answer would be, “Well, you better get on that with your lead nurturing team, because if your leads aren’t going into the perfect nurturing program for them, you won’t hit your SQL number.”
What just happened here? We forced the inbound marketers to take a broader view of what they do and to work with the nurture team to ensure they are maximizing the MQL and SQL counts. It is something they can influence more directly. We are forcing them to stop looking for the cost-center-related “nice event” kudos from sales, and instead to start getting the revenue center “nice SQL boost” kudos from the business line manager.
Have you had issues in changing the behaviors of your inbound marketing team? How did you manage the changes needed?