77% of B2B marketers are NOT making their numbers! Why?

, , , , , , , ,
77 Percent

77 Percent

Many so-called “Revenue Marketers” are writing checks that their companies simply can’t cash! According to a recent study by HubSpot, only 23% of marketers are exceeding their revenue goals. Yet, Revenue Marketing has become a ubiquitous concept and is getting tons of hype in today’s market. And rightfully so. No question – it’s the “holy grail” of today’s senior stakeholders.

Here’s the problem—all the verbiage around it was generated by companies and people deeply invested in its success. These include companies that are predominantly staffed by marketing automation technologists and solutions engineers, who are actually software people, not demand marketers. And all the talk isn’t limited to the marketing operations and automation folks who are making claims. There are also many strategic consulting firms and agencies that do the same, but they don’t have enough experience as practitioners to execute on the very recommendations they are prescribing to clients.

Don’t get me wrong, the modern marketing technology stack forms the most powerful marketing enablement toolkit I’ve witnessed in a nearly 25-year career. But it’s just that…an enablement toolkit. It’s a partial solution. You ALSO need effective buyer engagement strategy and execution or the monetization of your marketing investments won’t even come close to its potential.

Quite simply, revenue marketing can work—when (and only when) it’s driven by a worthy buyer engagement strategy. But the primary challenge, which we address in our new eBook entitled Exposed. The False Promises of Revenue Marketing., is all the confusion, misinterpretation and general lack of understanding that exists around revenue marketing and the buyer engagement strategies that are essential to its success.

These points of confusion include:

  • The fundamental deficit in buyer understanding that is killing marketing performance at most companies
  • What’s wrong with persona development
  • How messaging is largely missing the mark
  • Why most B2B content is lousy as it’s “domain-centric,” not “engagement-focused”
  • How most marketers are focused on all the wrong metrics
  • Why so very few marketers are capable of aligning all the requisite elements of a high-performance buyer engagement strategy

In the eBook we highlight these critical elements (and many more) that are too frequently being ignored, simply misunderstood or not fully embraced, but that are vital for true revenue marketing. In it we address 9 foundational principles that when used as a roadmap for marketing automation and social media propagation are the surest way to develop a sound buyer engagement strategy that transforms you into a true rock star of revenue marketing.

Download a copy of the eBook to discover 9 ways to exponentially increase leads, conversion, pipeline velocity and revenue impact:

 

 

Under the Microscope: Market Strategy

, , ,
under the microscope

This blog post is part of a series providing an in-depth exploration of each dimension of the 12 Dimensions of Revenue Architecture.


A Market Strategy is a core element of a company’s revenue architecture and differentiated strategy. Revenue leaders need to define how to approach the Market Strategy based on attractiveness, competitive positioning and fit.

This post dissects Market Strategy and its components, and explores why it is essential to any business.

Read more

Why You Need Fewer Leads…But More Marketing Qualified Leads

, ,
graphic showing the changing roles of marketing and sales

Why Marketing Qualified Leads?

Although many marketers focus on increasing the number of leads, quite often marketers should be in fact aiming to have fewer leads. The key is that this smaller number of leads are Marketing Qualified Leads (MQLs), who are genuine sales prospects, instead of people who are curious but have no intent to buy.

Read more

Revenue Systems: Your Platform for Sustainable Revenue Performance

, , , , , ,
Revenue Systems

Revenue SystemsWe define Revenue Systems as the foundation for sustainable revenue execution. Revenue Systems include brand, people, process, and technology that enable marketing and sales. These core capabilities help attract, capture, deepen and expand relationships. Assuming the right strategies are in place, your revenue system provides the platform you need to execute marketing and sales programs and achieve marketing and sales performance metrics.

Some B2B organizations still view marketing and sales as distinct organizations with different skills, and requiring different technologies and processes. While there are distinctions in the role of marketing and sales, today’s buyer lifecycle experience is fluid and must drive the marketing and sales process.  Leading businesses recognize that in order to attract and engage these self-directed buyers, marketing and sales teams need integrated branding, technologies and processes.  With a Revenue Systems approach, leaders can architect an integrated platform and manage continuous and non-linear buyer journeys.

Read more

How to Set up a Lead Nurture Program

, , , , , , , ,

You have implemented marketing automation and you are generating some inbound leads. Great!  You have uploaded a database of contacts and these represent even more potential ‘leads’ (in the system). Now you need to manage all these leads. How do you convert them into subscribers and real sales leads?

lead-nurture

Of course, only a handful of leads are likely to become MQLs – Marketing Qualified Leads ready for sales engagement. Also, sales will likely want to send some MQLs back to marketing for more nurture. You need an approach to manage all the leads and contacts in your marketing database and start to nurture them into sales ready MQLs.

How do you set up a lead nurture program to generate more MQLs?

The answer is simple segmentation. Tackle this in three simple steps:

 

1. Define your buyer personas. Start with a few (3-4 perhaps) and build from there if needed. Personas could represent your typical economic buyer, technical buyer, business decision maker and influencer.  Focus on personas that would likely value different types of content and messaging from you at a different cadence. Some marketing automation solutions will automatically generate lists based on the persona and corresponding drop down self-selection fields that new prospects can complete to self select one of these persona segments.

 

2. Define your custom fields. This is an important step to ensure the database has the parameters you need based on your specific business. Of course, the more data fields you track, the greater the segmentation options, but the harder it is to maintain and complete profiles for each contact.  Data fields (custom and standard) may include things like business function, industry segment, personal contact status, interest areas, client status, partner, analyst, consultant, etc. You can also use existing analytics, like behaviors (interests) and lifecycle stage to help further create target segments and lists. All these existing and custom fields will allow you to build highly targeted lists for nurture campaigns and sales focus.

 

3. Build a matrix of segments to nurture campaigns. Now you can create a set of segments using the personas and appropriate custom fields. These segments can each receive different engagement campaigns. Campaigns can be set up along the customer journey;  for example awareness stage, consideration stage and decision stage campaigns. Another campaign archetype could be general company news and updates. Build your matrix to define which segments gets which campaigns and agree this with the sales team.

 

Now that you have the database set with personas and custom fields, you can run queries and build targeted lists for specific sales / marketing campaigns and follow-up. Of course, the process between marketing and sales must be highly collaborative. You can answer a range of queries that may trigger a targeted campaign or sales prospecting follow-up, e.g.:

  • Who has visited the site and registered in the last 2 weeks ?
  • What people that we know, have we not reached out to in the last 8 weeks ?
  • Who made an initial visit to our site and returned n times to download what?
  • Who do we know at XXX Company?
  • How many [sector] contacts visited/registered/ and downloaded the Infographic or eBook?
  • Who has responded to our initial message?
  • How many contacts do we have in Segment A?
  • Who visited our site and registered – but we have not followed up with?

Contact us know if you want to discuss nurture strategies in greater detail.