Give yourself 100 points for every correct answer and 0 points if you miss. Get 6 out of 8 correct (a score of 600) and you are one savvy CMO!
- Who’s Roi? I’ve never seen someone spell their name this way. I think someone made a spelling error.
- Return on what? I’ve heard this term used in my company but since it doesn’t apply to me, I ignored it.
- Well, ROI stands for Return on Investment and it is fast becoming the standard of measurement for B2B CMOs.
- Some word at the end of a spreadsheet we hope is not in red.
- Revenue is something done by sales with smoke and mirrors and really frenetic activity at the end of each quarter. It’s not my responsibility so I don’t pay it much attention.
- Say it with me – R-E-V-E-N-U-E. This is the new responsibility for today’s CMOs. It’s measured by metrics such as marketing’s direct contribution to the pipeline percentage and total dollars, or marketing’s direct contribution to revenue as a percentage or as a number. Many CMOs now have a revenue number they need to directly influence.
- As in cake? Love those!
- Isn’t that the device used at frat parties to partake of large amounts of alcohol with great efficiency?
- No! A funnel is the process managed by Revenue Marketers™ that begins with a cold name and ends by providing a highly qualified contact to sales. A funnel has stages and a Revenue Marketer uses the conversion rate from one stage to another to forecast their impact on revenue.
- What, like in the weather? That’s not in my job description!
- That useless number from the VP of Sales at the beginning of each quarter?
- You missed again. The hallmark of a Revenue Marketer is that they show up to a senior management meeting and not only report on what they did last quarter, but also forecast the impact they’ll have on revenue in the upcoming quarter.
- Lead Management
- I don’t manage leads, I’m a marketer!
- I’ve given leads to sales – it’s their job now. Not mine. That’s lead management.
- You’re kinda, sorta on the track with the second answer. Lead management is the combined processes of marketing and sales that track and manage the entire life cycle of a lead. It’s a shared, synergistic responsibility in a closed-loop environment.
- Sales & Marketing Alignment
- They stick to their side of the office and we stick to ours. That’s alignment.
- Well, in my company, we play the Sales & Marketing Angry Birds game. We’re completely aligned in our mistrust and lack of respect for one another and take lots of pot shots. Our aim is excellent!
- OK, OK. No more violence! For the Revenue Marketer, sales and marketing alignment is a key ingredient of success. In companies where this alignment has occurred, you will see a synergistic revenue team comprised of marketing and sales, all striving and accountable for the same number. Oh, and you guys need a new game.
- Revenue Marketing
- Never heard of it. Sounds like some kind of sales jargon.
- Well, it’s clearly an impossible oxymoron.
- Actually, Revenue Marketing™ is a term coined by us, The Pedowitz Group. We think it’s a pretty good way to describe the new role of marketing in helping to drive and grow top line revenue in a repeatable, predictable and scalable model.
So, how did you do? What was your score? And what definitions would you have provided us? Please share!
Debbie is a nationally recognized thought leader, innovator and speaker in Revenue Marketing with more than 30 years of experience applying strategy, technology and process to help B2B companies drive revenue growth. She is the author of the award winning book – “Rise of the Revenue Marketer,” Chancellor of Revenue Marketing University, and host of Revenue Marketer Radio (WRMR). Debbie has been at the forefront of the marketing automation phenomenon, first as a beneficiary, and now as an advocate and expert. She is a frequent speaker and writer on topics related to Revenue Marketing transformation, leadership, change management, sales and marketing alignment, ROI, content, organization, talent and marketing operations. She coined the term “Revenue Marketer” in 2011. As a principal partner and chief strategy officer of The Pedowitz Group, Debbie is responsible for developing and managing global client relationships, as well as leading the firm’s thought leadership initiatives. Debbie is also PhD candidate and her dissertation topic is how the CMO adopts financial accountability in an e-marketing environment.
- Posted by Debbie Qaqish
- On 06/22/2015
- 0 Comments