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Revenue Engine for Marketers
The document discusses how organizations can transform their digital marketing programs into a revenue engine. It emphasizes that marketing now has more influence over the buying journey than ever before, and that revenue has become the most important metric. However, many marketers struggle to engage customers and drive revenue due to an inability to coordinate across channels or properly measure performance. The document recommends that organizations implement an integrated demand generation strategy using various tactics like content marketing, personalization, and analytics to optimize the customer journey. It also stresses the importance of an integrated digital technology platform to support marketing efforts at each stage of the revenue funnel.
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Revenue Engine for Marketers
- 1. Turn your digital marketing programs into a Revenue Engine
- 2. Buyer is informedBuyer Journey is dynamic and cross channel Buyer has little attention The buyer has changed
- 3. Unprecedented change inbuying
- 4. Marketing has moreinfluence than it ever did Marketing has more influence on the buying journey Marketing has control over the buying funnel
- 5. Revenue has becomethe most important metric To engage the new buyer, marketing needs to focus on revenue and marketing performance needs to be tied to revenue
- 6. 5 BUT!, Marketersstruggle to engage customers and drive great experiences Marketers cannot co-ordinate across channels Unable to measure 82% report they are hindered by the inability to measure cross-channel engagement and performance. Source: Mckinsey Technology is broken, not integrated and doesn’t enable marketers 85% of surveyed CMOs say their efforts at implementing an Omni-channel customer strategy are thwarted by a lack of access to data and/or inadequate tools. Source: Mckinsey eDynamic, Friday, September 26, 2014 Marketers are unable to drive great revenue
- 7. Organizations need tore-align their marketing strategy, processes and technology to drive revenue
- 8. Organizations need avariety of strategies and tactics to drive revenue A revenue roadmap Measurement driven approach Integrated digital technology An integrated Demand Gen strategy Exceptional customer experience Revenue Generation
- 9. 8 Demand GenStrategy & Roadmap eDynamic, Friday, September 26, 2014 An integrated Demand Gen strategy A revenue roadmap
- 10. Revenue Strategy Revenuestrategy • Revenue Roadmap • Top funnel lead gen • Conversion and optimization • Funnel acceleration • Customer Lifecycle Management
- 11. 10 Revenue StrategyDevelopment Define Your Revenue Marketing Funnel Define Your Revenue Strategy into achievable steps With clear ownership & accountability eDynamic, Friday, September 26, 2014
- 12. 11 Revenue Roadmap Lead Generation STRATEGY Drive traffic Top funnel initiatives like SEO, etc. Demand Generation eDynamic, Friday, September 26, 2014 STRATEGY Generate leads and opportunities Operations – cross channel campaigns Measures – number of customers/engagemen t Technology – CMS , marketing automation, analytics, CRM with no integrations Results – high investment, inadequate results Optimization STRATEGY Increase leads volume and funnel velocity Operations – campaigns optimized across customer journey Measures – cost/lead, cost/customer Technology – integrated ecosystem Results – improved measurement leads to optimized campaigns 1 2 3 4 Revenue Engine STRATEGY Increase leads volume and funnel velocity Operations – demand center Measures – revenue Technology – integrated ecosystem Results – increase in revenue Operations – limited resources Measures – leads, website traffic Technology – CMS without integrations Results – leads but not enough customers-
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- 14. Top Funnel Strategies Persona Based Content Marketing Website Conversion Paid, Earned and Owned Media Advertising – Re-targeting
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- 17. Conversion and Optimization Personalized Communications Right Message Right Time Right Channel Right Device Website Optimization Marketing Channel Optimization Content Marketing
- 18. Contextual Engagement drivesConversion 17 • 82% of prospects say content targeted to their specific industry is more valuable • 67% say content targeted to their job function is more valuable *MarketingSherpa2012 eDynamic, Friday, September 26, 2014
- 19. 18 Your Websitewith a Conversion Engine. Content + Strategy + Testing = Leads = Revenue eDynamic, Friday, September 26, 2014
- 20. 19 Call toaction tips the prospects Call to action is key to driving conversion eDynamic, Friday, September 26, 2014 •Merchandise your product •Create Scent •Simple and persuasive content •Obvious and Engaging call to action •Relevance, value and what happens next
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- 22. 50% of leads are not ready to buy
- 23. 22 Funnel Acceleration Utilize marketing automation and content marketing to improve quality leads and accelerate eDynamic, Friday, September 26, 2014 through the funnel
- 24. 23 45% COMPANIESUSING MARKETING AUTOMATION SOURCE 45% MORE PIPELINE THAN THOSE WHO DON’T USE MARKETING AUTOMATION Marketo eDynamic, Friday, September 26, 2014
- 25. 24 70% Companiesthat invest in marketing automation solutions see 70% faster sales cycle times and 54% improvement in quota achievement. Bulldog Solutions eDynamic, Friday, September 26, 2014
- 26. 25 70% 70%OF BUYERS PURCHASE A MARKETING AUTOMATION SOFTWARE FOR BETTER REPORTING / MARKETING ANALYTICS Gleanster eDynamic, Friday, September 26, 2014
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- 28. Customer Lifecycle Management Onboard customers Promote Usage & Adoption Continue to Educate & Train Target for cross sell and upsell Enable Account Management Loyalty and retention
- 29. 28 DDrriivveess RReevveennuuee eDynamic, Friday, September 26, 2014
- 30. 29 Understand your Buying Cycle eDynamic, Friday, September 26, 2014 Segment your audience Map the Messages Implement the Platforms Target the buying lifecycle
- 31. 30 Best-in-Class Content: Use the website to convert the unknown to the known Focus on copy Adopt a problem-solution approach to copy Speak directly to the reader Concentrate on decision points Re-think Lead Gen forms/CTAs Un-gate some copy as a preview Add visual cues Focus the reader on your goals eDynamic, Friday, September 26, 2014
- 32. 31 Best-in-Class Content: Develop Thought Leadership Target content for specific audiences Repurpose existing material Add graphic elements Use tools and calendars to streamline production Promote on multiple channels (COPE) Focus on distribution Understand this is an iterative process; you get what you put in eDynamic, Friday, September 26, 2014
- 33. 32 Best-in-Class Content: Focus the reader on your goals eDynamic, Friday, September 26, 2014
- 34. 33 Best-in-Class Content: Structure content chunks, not blobs Content “blob” Content “blob” Unstructured Page (& print) specific Inflexible, monolithic Hard-coded & historically entrenched Action-averse eDynamic, Friday, September 26, 2014 Structured Platform & channel agnostic Nimble, componentized Optimized & future friendly Action-oriented
- 35. 34 Best-in-Class Content: COPE (Create once, publish everywhere) eDynamic, Friday, September 26, 2014
- 36. 35 Exceptional CustomerExperience Organizations need a variety of strategies and tactics to drive revenue eDynamic, Friday, September 26, 2014 Exceptional customer experience
- 37. 36 Why CustomerExperience Matters to Revenue Generation eDynamic, Friday, September 26, 2014 36 • 2X customer retention - Aberdeen Group • 89% retention for companies with strongest omni-channel strategies -Aberdeen Group • By 2020 customer experience > price & product - Customers 2020 Report Source: Watermark Consulting
- 38. 94% of customershave discontinued communication with a company because of irrelevant messages. Blue Research
- 39. 38 Customer experiencematters eDynamic, Friday, September 26, 2014 Source: Oracle
- 40. 39 Understand yourcustomer eDynamic, Friday, September 26, 2014
- 41. 40 CUSTOMER JOURNEYMAP eDynamic, Friday, September 26, 2014
- 42. 41 Target thebuying lifecycle Understand your Buying Cycle eDynamic, Friday, September 26, 2014 Segment your audience Map the Messages Implement the Platforms
- 43. Relevant, personalized communicationacross all channels drives revenue 87%OF TOP-PERFORMING MARKETERS SAY TARGETING CAMPAIGNS TO AUDIENCE SEGMENTS IS THE LARGEST VALUE DRIVER, WITH 78% LISTING SEGMENTATION AS THE #1 MARKETING-AUTOMATION CAPABILITY THEY CAN’T LIVE WITHOUT. Cross channel, multi device Gleanster Personalized to a customer journey
- 44. 43 Revenue Analytics Measurement driven approach eDynamic, Friday, September 26, 2014
- 45. 77% Marketers indicated improvement in revenue by gathering customer intelligence. Forrester Customer Intelligence Survey
- 46. 45 Use analyticsto perform financially better and execute decisions faster Research: http://www.bain.com/publications/articles/big_data_the_organizational_challenge.aspx eDynamic, Friday, September 26, 2014
- 47. Challenges to calculatingmarketing ROI • Closing the loop - getting ROI reporting • Reporting across the entire funnel • Understanding how marketing influences pipeline and closed deals • Lack of integration • Lack of a clear path on which reports demonstrate "success". This may be due to lack of focus on defining metrics
- 48. 6 Steps toMarketing ROI 1. Define the insights needed 2. Establish metrics to measure ROI 3. Map the data Sources 4. Understand your customer journey and Revenue Attribution Model 5. Understand the cost metrics 6. Establish reporting & insights
- 49. Integrate data, providesingle view of customer and customize reporting to track revenue attributed to right channel and improve customer experience DEFINE INSIGHTS NEEDED: What information do you need to know to answer the question? Which campaigns drove the most qualified leads? Which campaigns delivered the highest return? Which campaign type drives the most engagement? DEFINE METRICS: Which metrics or data points help you required insight? Tool MQLs by campaign Total SALs by campaign Cost per lead by channel Total revenue by campaign type ROI by campaign Website visits by campaign Form conversion by campaign Click-to-open rate by campaign Customer MAP DATA SOURCES Where can the metrics and data points be found? Check if External CRM Marketing Automation CRM Marketing Automation Agency and vendor Internal financial systems Marketing Automation Marketing Automation Web Analytics
- 50. Define that Metricsthat really matter
- 51. Gather the datasources to calculate your defined metrics
- 52. 51 Key measuresand alignment eDynamic, Friday, September 26, 2014 Define a Common Definition of a Lead
- 53. Attribution model isthe rule, or set of rules, that determines how credit for conversions is assigned to a channel during customer journey 1. Last Interaction attribution model, the last touchpoint would receive 100% of credit for the sale. 2. First Interaction attribution model, the first touchpoint would receive 100% of credit for the sale. 3. Linear attribution model, each touchpoint in the conversion path would share equal credit (25% each) for the sale. 4. Time Decay attribution model, the touchpoints closest in time to the sale get most of the credit.
- 54. 53 Technology drivesrevenue eDynamic, Friday, September 26, 2014 Integrated digital technology
- 55. 54 The RevenueEngine Elements How Prepared Are You ? eDynamic, Friday, September 26, 2014 Technologies impact on revenue Key Marketing Revenue Engine Components include a holistic integration of the following;
- 56. 55 Customer ExperiencePlatform Orchestrate individual experiences across every channel CMS Marketing eDynamic, Friday, September 26, 2014 Automation Analytics Actionable Customer Profile Insight Optimize CRM Identify ideal customer attributes, behaviors and preferences Analyze performance and tie back to revenue goals Optimize cross channel experiences with data and insight
- 57. The Trifecta forRicher Engagement Unifying three technology platforms delivers an customer experience based on a common context
- 58. 57 Align revenuestrategy with technology eDynamic, Friday, September 26, 2014
- 59. The demand funnelneeds to be supported by technology at each stage
- 60. 59 Connect withus www.edynamic.net contact@edynamic.net 1-877-339-6264 eDynamic, Friday, September 26, 2014 twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net
Editor's Notes
- #3 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #4 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #5 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #6 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #7 However CX in most organizations is broken Marketers cant coordinate across channels. They are unable to measure experience as data, content and technology is siloed. Technology is broken.
- #8 Design -
- #9 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #10 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #11 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #13 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #15 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #16 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #18 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #20 Let’s you know what your site can do (and tell you how much money you are leaving on the table) – Your site may be working ok – how do you know? The only place you can measurably change your revenue/move the demand curve in a concrete way, using the assets you already have.
- #24 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #29 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #31 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #32 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #33 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #34 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #35 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #36 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #37 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #38 And customer experience matters: leaders in delivering customer experience show consistently better performance than those that don’t. This makes intuitive sense: treat customers well, and they’ll stay your customers. Here are some facts: Look at the stock performance of Forrester’s Customer Experience Index leaders versus Laggards – which bucket do you want to be in? [CLICK]
- #43 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #44 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #45 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #55 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #57 Edits: Add CRM next to Analytics We provide our clients the ability to orchestrate experiences across every touch-point. In a coordinated manner. We integrate your technology so that you can consistently and relevantly delivery experiences. We create a central profile of the customer that captures data from every touchpoint – website, mobile, social, email, customer portals and offline data such as events. With this rich profile you can engage with customers like never before. We provide analytics insight through reports and dashboarding to ensure that your marketing capaigns deliver performance Finally we provide you tools to optimize experience.
- #58 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.
- #60 The buyer has changed. The buyer is more informed The new buyer has many options The buyer has Little attention. There is so much information available and being sent to buyers, that attention is scarce. Design: Image of a buyer with many options? Three icons – One a buyer who is more informed second journey is dynamic and third buyer has little atention. Who has many options one that has very little attention. Sample images above.