How to Make a Revenue Marketing Cocktail
Do you know the recipe to a heady revenue marketing cocktail? If you attended REVTalks in San Francisco on Monday you likely came home with several recipes, tips, and best practices to implement a strong revenue marketing process. The Pedowitz Group said it well when they tweeted: “@HouseGiles @CallidusCloud gives Revenue Marketing cocktail. Equal part sales/marketing, splash of IT & a twist of customer focus.”
Our CMO, Giles House predicts that in this era of collaboration, a new power couple will emerge – the CIO and the CMO. “Marketing has big projects and must embrace technology,” he said. Technology is the best way to ensure that marketing’s programs are aligned with the industries and segments that sales is chasing. For instance, a sales enablement portal can help sales access the content they want anytime, anywhere. Marketers can see which content is being used and how. A compensation tool shows sales reps what commission they will earn with each closed deal. Promise of immediate monetary gains can act as a great motivating factor to close deals. Technology can act as bridges to enable collaboration and cooperation between marketing-sales-IT and the customer. It also gives us a rich repository of data to make the system more smooth and efficient. At the event several senior marketers shared best practices and frameworks to achieve the ultimate goal of revenue marketing. Meagen Eisenberg, VP Demand Generation at DocuSign provided her own recipe for success which she has found in strong sales and marketing alignment. She stressed the way to revenue marketing requires sales and marketing to: Build the Process Together: Get sales involved in the planning process. For instance, have them help determine target audiences, map out the buyers journey and identify types of content needed in the selling process. Ensure Results Are Transparent: Make sure sales is aware of what marketing is doing. This can include sharing marketing plans, results and highlighting what worked and what didn't. Communicate Habitually: This requires partnering with sales in a habitual way. For example, be involved in onboarding, training and sales kick offs. Foster transparency by starting a weekly or bi-weekly newsletter for sales that summarizes all marketing campaigns and activities. Apart from the 36 marketers who were all great speakers, there was also plenty of room to swap stories in the networking hour. So how about you? How far have you progressed in the revenue marketing journey? Granted it is no easy task. But RevTalks sure got everyone a few steps closer. What were your takeaways from RevTalks 2014? Tell us in the comments section.
Poornima Mohandas | January 30th, 2014