April 2011 presentation given at Communitech Strategic Marketing Peer2Peer session. Topics include the three stages of the revenue engine, Marketing Automation, Revenue Performance Management, and organizational models that support revenue generation.
2. Building a Revenue Engine
Blog: www.revenue-engineer.com
Twitter: @RevenueEngineer
Hashtag: #RevEng
Email: joe@revenue-engineer.com
3. Introduction
• Sales, Field Marketing, Operations
• Focused on revenue
• Marketing & Sales Operations at Coreworx
• B2B Software
4. Agenda
• Overview of Revenue Funnel
– Sales
– Demand Generation
– Social
• Marketing Automation
• Revenue Performance Management
• Organizational Models
– Marketing Operations Centre of Excellence
– Revenue Office
5. Definitions
• Revenue Engine: system and processes that
drive revenue from suspect to deal close
• Funnel: A group of measurable stages within a
process, each further qualifying a prospect
• SCRM: Social Customer Relationship
Management
• KPI: Key Performance Indicator
• RPM: Revenue Performance Management
6. Survey
• How many of you have:
– CRM?
– Marketing Automation?
– Social Media Strategy?
13. Marketing Automation
Challenges Adoption
Generate higher volume of leads Plan
17%
Full/Partial
53%
Marketing to growing number of No Plan
people 30%
Generate high-quality leads
0% 20% 40% 60% 80%
14. Marketing Automation
• Features – Event Automation
– Contact Database – Automated Data Cleanse
– Contact Segmentation – Dynamic Content
– Email Engine – Progressive Profiling
– Forms & Landing Pages – Contact Level Activity
– Personalization Tracking
– Lead Nurturing – Marketing Dashboard
– Lead Scoring – Integration with CRM
– A/B Testing – Integration with 3rd
Party Apps
16. Marketing Automation
• Only ¼ of Marketing
Failure
Success Automation
implementations hit
their goal
17. Marketing Automation
• Document Lead Management Process
• Standardize Terminology with Sales
• Determine KPIs
• KPIs are Metrics, Metrics are NOT KPIs
• You get what you pay for
18. Marketing Automation
• Give yourself sufficient time
• Build technology to support business
• Internal & external resource
• Build it backwards
• Don’t launch before it’s done
• Get trained
• Continued enhancements
20. RPM
• “A systematic approach to identifying the
drivers and impediments to
revenue, rigorously measuring them, and then
pulling the economic levers that will optimize
top line growth”
• One view of the truth
• Marketo & Eloqua
21. RPM
• Focus on KPIs
– Campaign Attribution
– Time in Stage
– Funnel Leakage
– Rejection Reasons
– Weighted Pipeline
– Total Revenue Conversion
22. RPM
• Case Study: Platts
– Lead to Opportunity conversion: 23% to 31%
– Marketing contribution to revenue: 22% to 28%
25. Organizational Models
• Marketing Operations Centre of Excellence
– Reports to CMO
– Manages process & infrastructure
– Build campaigns
– Best practice standardization and training
– Deep understanding of data
– Targeted resources
26. Organizational Models
• Marketing Operations Centre of Excellence
Chief Marketing Officer VP Sales
Product Market
Field Marketing Sales
Marketing Development
Sales
Marketing Operations
Operations
27. Organizational Models
• Revenue Office
– Reports to CRO
– Marketing & Sales Operations combined
– Ensures consistent process flow
– Focused on revenue
– Removes Marketing/Sales Alignment issues
28. Organizational Models
• Revenue Office
Chief Revenue Officer
Product Market
Field Marketing Sales
Marketing Development
Revenue Operations
29. Summary
• Overview of Revenue Funnel
– Sales
– Demand Generation
– Social
• Marketing Automation
• Revenue Performance Management
• Organizational Models
– Marketing Operations Centre of Excellence
– Revenue Office