The last few years we’ve seen an amazing rise in marketing automation (MA) usage in B2B companies, based on the promise that MA will help marketing drive repeatable, predictable and scalable revenue results. However, looking at real results after MA implementations, we see a huge gap between reality and actually transforming marketing from a cost center to an efficient revenue engine. One reason for this shortfall is that it’s often done as a disparate set of actions in marketing, rather than taking the required holistic approach to Revenue Marketing Transformation. Pivotal to the success of this scenario, is the right org structure.
Revenue Marketing Defined – Internal
I’ll give you a definition of Revenue Marketing and then outline the right approach to ensure success.
Revenue Marketing is the combined set of strategies, processes, people, technologies, content and results that does four things:
- Drops sales ready leads into the top of the funnel
- Accelerates sales opportunities through the sales pipeline
- Measures marketing based on the repeatable, predictable and scalable contribution to pipeline and revenue
- Improves the ROI of the sales and marketing continuum
Revenue Marketing Defined – The Customer Impact
Revenue Marketing is more than just a way to connect marketing to revenue, it is also the way today’s marketer connects with the prospect and the customer in a digital world. In a successful Revenue Marketing practice, marketing is having smart, real-time, automatic digital dialogs that are driven by the prospect and the client. Rather than just flinging out emails to anybody, anytime, in a Revenue Marketing practice, email is just one channel of communication and it is gated based on how a prospect wants to interact with your company and balanced by what buy stage of the journey in which the prospect is having the interaction. With 60% of the buyer’s journey done on-line, being able to have a smart digital dialog helps marketing connect with prospects in today’s digital environment.
The Revenue Marketing Center of Excellence
To achieve this level of revenue performance and prospect and customer digital interaction requires COMMITMENT and nothing says commitment like a job description, an org chart and a budget – in short, a Revenue Marketing Center of Excellence (RMCoE).
An RMCoE is the tangible expression of a company that is serious about moving marketing from cost center to revenue center status and in that process better connection with clients and prospects; its organizational structure supports and drives this strategy. A combination of field and corporate roles and responsibilities combine for a holistic approach to driving a repeatable, predictable and scalable revenue result from marketing. The RMCoE greatly improves efficiencies and optimizes use of MA for revenue marketing efforts.
In an RMCoE, two separate groups report to a VP of Revenue Marketing – a Revenue Marketing Center and a Marketing Operations Center. The Revenue Marketing 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.
The Customer Focused Role
Within the Revenue Marketing Center, the role of nurture specialist focuses on prospect and client digital behavior; actually, they obsess about it! Using content as the language translator, they constantly are reviewing what, how and where online behavior is occurring and then ensuring that all campaigns in all channels are optimized for a digital dialog. By assessing this online behavior and the content used in the interaction, the nurture specialists are constantly tweaking and improving the digital dialog for all phases of the customer’s buying journey.
To find out more about how to structurally commit to Revenue Marketing, take a peek at this white paper “Building a Revenue Marketing Center of Excellence.”
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