The Revenue Marketing Journey
Make no mistake: the time for the Revenue Marketer has arrived. CEOs are looking for new ways to create revenue, heads of sales are asking for help to manage the top of the funnel, and sales continue to demand better qualified leads. If your CEO hasn’t already come into your office and asked what you plan to do about revenue, get ready – it’s coming.
On a recent 14-city speaking tour with Marketo’s Revenue Rockstar Roadshow, I had the chance to test a four-step model of the stages between a traditional marketing organization and a revenue marketing organization. The response to this simple model was overwhelming.
With roughly 40-50 percent of B2B marketers now having some direct revenue accountability, knowing where you are on the journey and where you need to be is more critical now than ever before.
Let’s look at the key stages towards Revenue Marketing.
Stage #1: Traditional Marketing
Most marketers don’t need much explanation of what traditional marketing entails because chances are, they live it every day.
Stage #2: Lead Generation
The first big step towards revenue marketing is from traditional marketing to lead generation.
- Leads are sent to sales that have a pulse
- Use an email system
- Lots of manual work
- Tens of thousands of companies in this stage
- Number of emails sent
- Number of leads to sales
- Open and click through rates
Stage #3: Demand Generation
The move from lead generation to demand generation is the first significant step to connecting marketing to revenue.
Demand generation is defined as the combined set of activities across both sales and marketing that 1) puts high quality leads into the top of the funnel, and 2) accelerates opportunities through the sales pipeline.
- Uses a marketing automation system integrated with CRM
- Moving from efficiency to revenue
- Revenue contribution is trackable, but not yet predictable
- About 5,000 companies at this stage
- Number of scored (MQLs) leads to sales
- Number of opportunities
Conversion ratios from top of lead funnel into sales funnel
- Percent conversion of MQL to opportunity
- Percent conversion of opportunity to close
Stage #4: Revenue Marketing
The Revenue Marketing stage is the same as the Demand Generation stage with one major exception – RPS, or the ability to create Repeatable, Predictable, Sustainable revenue. In this stage, marketers actually provide a forecast for what marketing will be contributing in the upcoming quarters.
About Debbie Qaqish
Debbie Qaqish is Principal Partner and Chief Revenue Marketing Officer for The Pedowitz Group, a demand generation agency. A nationally recognized thought leader and innovator in revenue generation, Qaqish has over 30 years of experience helping organizations connect marketing to revenue. Debbie hosts a weekly internet radio show, Revenue Marketer® Radio. Her first book, “The Rise of the Revenue Marketer®,” will be published in Q4 2011.
Giving efficiency the full throttle at NASCAR
The NASCAR organization has long been synonymous with speed, agility and innovation. And so by extension, partnerships at NASCAR hold a similar reputation. One such partner for the organization has been CDW – a leading multi-brand provider of information technology solutions to businesses, government, education and healthcare customers in the United States, the United Kingdom and Canada. CDW provides a broad array of products and services ranging from hardware and software to integrated IT solutions such as security cloud hybrid infrastructure and digital experience. Customer need is the driving force at CDW, and the company helps clients by delivering integrated services solutions that maximize their technology investment. So how does CDW help their customers achieve their business goals? Troy Okerberg, Field Sales Manager - North Florida at CDW adds “We strive to provide our customers with full stack expertise, helping them design, orchestrate and manage technologies that drive their business outcomes.”
NASCAR acquired International Speedway Corporation (ISC) in 2019, merging its operations into one, new company moving forward. The merger represents an important step forward for NASCAR as the sport creates a unified vision to embrace its long history of exciting, family-oriented racing experiences while developing strategic growth initiatives that will drive the passion of core fans and attract the next generation of race fans. CDW has been instrumental in bringing the two technology environments together to enable collaboration and efficiency as one organization. Starting with a comprehensive analysis of all of NASCAR’s vendors, CDW created a uniform data platform for the data center environment across the NASCAR-ISC organization. The IT partner has also successfully merged the two native infrastructure systems together, while analyzing, consulting and providing an opportunity to merge Microsoft software licenses as well.
2020 turned into a tactical year for both organizations with the onset of the pandemic and CDW has had to react quickly to the changing scenario. Most of the initial change included building efficiencies around logistics, like equipment needing to be delivered into the hands of end users who switched to a virtual working environment almost overnight. CDW’s distribution team worked tirelessly to ensure that all customers could still access the products that they were purchasing and needed for their organizations throughout the COVID timeframe. Okerberg adds that today, CDW continues to optimize their offering by hyper-localizing resources as well as providing need-based support based on the size and complexity of their accounts. Although CDW still operates remotely, the company commits to adapting to the changing needs of their clients, NASCAR in particular. Apart from the challenges that COVID-19 brought to the organization, another task that CDW had been handed was to identify gaps and duplicates in vendor agreements that the two former single-entity organizations had in place and align them based on services offered. CDW further helps identify and provide the best solution from a consolidation standpoint of both hardware and software clients so that the new merged organization is equipped with the best of what the industry has to offer.