Marketing is often viewed as a cost centered, randomized process of trial and error – much like the weather forecast of Punxatawny Phil on Groundhog Day. Marketing can be and often is a proven process with measurable ROI, but there are critical steps the aspiring marketer must take to become a reliable, predictable, and effective source of revenue. In truth, it only takes one word to summarize the difference between a revenue marketer and a “marketing groundhog” in the B2B world – and that word is predictability. Listed below are the essential elements needed for marketers to begin generating reliable revenue.
Choose the right people
Moving from a cost-centered model into a repeatable, revenue generating approach requires the right people with the right attitude. Marketers with expertise and experience in the buying cycle are essential. Above all, members of your team must understand the importance of aligning sales goals with marketing initiatives – this requires that your team think from the end user’s perspective. Universally, the most effective marketing teams are made up of members who have been involved in end-user sales organizations.
Develop a Proven ProcessThe world doesn’t bat an eyelash if the groundhog’s “prediction” doesn’t come true. Yet as revenue marketers, predictability is the standard by which we measure our success. Traditional marketers can only move into a revenue based model by strategically mapping out the lead cycle:
- Profile Ask the right questions at the right time to learn everything about a possible prospect.
- Plan Use this knowledge to understand what drives your target market.
- Execute Implement the right tactics at the right time.
- Optimize Customize your approach.
Utilize the Right ToolsA critical difference between revenue and traditional marketing lies in the way marketers use the buying and sales funnel to target, nurture, and measure marketing tactics. Revenue marketers measure each interaction through every step of the sales cycle, from the very first touch to the closed booking and beyond. Here are a few common tools revenue marketers leverage in the process:
- Profile Templates Preparing customized questions for each prospect allows revenue marketers to organize and target efficiently.
- Sales Funnel Revenue marketers use the sales funnel to strategically implement every tactic.
- Marketing Automation Automated marketing processes allow revenue marketers to produce tactics, deliver content, and monitor results with ease.
As we have seen, moving from a traditional marketing approach to a revenue based model is possible with the right people, the right process, and the right tools. Through proper profiling, planning, execution, and optimization, marketing transforms from a cost-centered, marginally successful experiment into a fully predictable and profitable strategy. Ask yourself – are you a marketing groundhog? Face your shadow by familiarizing yourself with the revenue marketing model- download our REVENUE MARKETING FUNNEL today!