State of Revenue Marketing How the Best B2B Marketers Grow Revenue 1
About Me Chris Nixon VP Marketing CaliberMind 2
About CaliberMind B2B Revenue Marketing Analytics Demand, ABM, Attribution, Pipeline Management Actionable Insights Fix data, enrich records, ABM, custom audience and more.. 10x faster time-to-insights 10% of traditional IT/ BI cost No data analytics skills required Boulder based, venture backed (D&B) Single Source of Revenue Truth CMO, CRO, CFO, CEO + Board 3
Why the C-Suite Cares + People The Rise of Revenue Operation: How the fastest growing B2B companies are bringing together marketing and sales as one team + Process How to use GQMD (Goal, Question, Metric, Data) to meet your revenue goal every time + Technology How to harness the power of automation and marketing AI to grow revenue faster together with sales 4
B2B Buying Has Changed B2B buyers are 57% of the way down the purchase process before they talk to sales. Source: CEB Survey, 2017 5
B2B Buying Has Changed 62% of B2B buyers say they can now develop selection criteria or finalize a vendor list - based solely on digital content. Source: Forrester, 2017 6
The Problem 60% of Fortune 1000 CMOs claim they can t quantify the impact of marketing on revenue. Source: The CMO Survey 2018, Deloitte 7
The Problem Most financial executives don t accept Marketing s forecasts or ROI calculations. 9 out of 10 said they don t use ROI metrics to set marketing budgets in the annual budgeting cycle. 7 out of 10 said their companies don t use marketing inputs and forecasts in financial guidance to Wall Street or public disclosures. 4 out of 10 said marketing forecasts made inside their company can t pass the muster of a standard corporate audit. Source: The American Marketing Association, 2016 8
The Cost of the Problem B2B CMOs have the shortest tenure on the C-Suite (20 months). Source: Market Pro Inc 9
What do Revenue Marketers do differently? 10
What is a Revenue Marketer? Revenue Marketing is systematically measuring and pulling the engagement channels (emails, content, paid ads, social ads, events, etc ) using data, analytics and orchestration to optimize marketing ROI and top line growth. Orchestration & Optimization Engagement Channels Revenue Marketer Analytics & Data Solutions 11
Marketer Performance Levels 12
Trend #1 - People Revenue Marketers Consolidate Operations 13
Revenue Marketers - Definition Revenue Marketers are involved throughout the entire customer lifecycle, from awareness to expansion. Marketing programs not only drive new business, but also cross-sell, up-sell opportunities, and churn prevention through customer marketing. Revenue Operators link Marketing, Sales, and Customer Success operations across the customer lifecycle to drive efficiency through these efforts and keep all teams accountable to revenue. Beyond this, RevOps builds alignment with other stakeholders such as Finance, Product, and the Executive team across the customer lifecycle. 14
Trend #1 Lead/ Demand Marketers 15
Rev Ops: Customer Alignment Revenue Marketers 16
Siloed Ops 17
Revenue Ops 18
The Results 38% increase in marketing driven revenue in half the sales cycle 19
Trend #2 - Process Revenue Marketers reverse engineer their revenue goal using GQMD (Goal, Question, Metric, Data) 20
Engineering Revenue Goal 21
Automate Reporting 22
2.4x Forecast Revenue Performance 23
3.2x Measure Pipeline Velocity 24
Revenue Run Rate 25
2x Greater ROI 26
Revenue Marketing Attribution 27
Marketing Metrics & C-Suite 28
Marketing Metrics Tracked 29
Trend #3 - Technology Revenue Marketers use a Single Source of Truth for any and all revenue data and analytics 30
Problem: customer data is everywhere. Web Analytics Marketing Automation Web Ads CRM Customer Support *A mid-market company is using between 20-30 marketing and sales tools (>90 for the enterprise). Data is siloed and heavily focused on contacts/leads not accounts, and there is no way to easily integrate systems for a single source of truth. 31
How is the problem getting solved today? Operational Enterprise Applications Data Warehouse BI Users Time-to-Insights: Weeks/ Months Estimated IT/ BI Project Cost: >$750K Used By: Data Analysts
Single Source of Revenue Truth CRM Executives Marketing Automation Sales Teams Website Integrate Your Data Analyze Performance & Attribute Success Marketing Channels Automate Workflows 33
Machine Learning: Data Normalization 34
Machine Learning: Ideal Customers & Targets 35
Trend #4 - Technology Revenue Marketers Bypass IT, BI and Analysts and Go Straight to Insights Using Self-Serve Analytics Tools 36
Trend #5 The One KPI that separates Revenue Marketers from Everybody Else 37
Revenue Maturity Model 38
#RevenueMarketing State of Revenue Marketing September 2018 Thank You! Questions? 39
Core Product Features ONE CLICK CONNECTORS MARKETER DATABASE SELF SERVE ANALYTICS WORKFLOW AUTOMATION RECOMMENDATION ENGINE Auto-connect your CRM, MAP, web analytics and customer systems Dedupe, merge, cleanse and autoenrich account data to improve CRM Automated marketing & sales analytics dashboards with tracking, forecasting and alerts. Fix data, build Ideal Customer Profiles, Select Target Accounts, Create Custom Audiences and more. What are the best marketing ROI channels? What can we do to increase pipeline velocity? 40
What Separates Revenue Marketers from Everybody Else? They use a mix of GTM strategies to optimize for revenue (aka Hybrid ABM) They support sales all the way down to Closed/ Won and beyond (Up-sell/ Crosssell) They work closely with marketing ops They commit to 30% or more of actual revenue/ bookings not just pipeline. They are highly confident in their ability to hit the revenue target They work backwards from a revenue goal using GQMD (Goal, Question, Metric, Data) They set their target and commit numbers early on in the quarter and are using revenue marketing software to forecast against it, with trending data wk over wk, mo over mo etc They measure to improve not to prove They measure and report on volume, value and velocity (last one is key!) They integrate tech stacks with ease (using a CDP or other technologies) They centralize data (using a CDP or other technologies) They are independent of IT, BI teams and can answer marketing and sales questions close to real-time, even before sales. 41
Lead Marketer (40%) Demand Marketer (47%) Revenue Marketer (13%) Accountable for Leads/ MQLs/ Activities Pipeline Sourced/ Influenced Revenue/ Bookings Revenue Cycle & Goal NA Funnel Metrics 10% - 30% Funnel + Revenue Metrics > 30% GTM Strategy Lead Generation Demand Generation, ABM Demand/ ABM/ PQL Team Varies Marketing Ops Marketing Ops/ Analyst/ BI Measuring Volume Volume, Value Volume, Value, Velocity Reporting Past Past, Present (Real-time) Past, Present, Future (Forecasting) Attribution/ ROI NA or First/ Last Weighted, Multi-touch ROI > 1.5x Tech Stack Basic, siloed CRM - MAP 1:1 Sync, native connectors Algorithmic ROI > 2x 2-way, API integration (Read/ Write) Marketing & Sales Data Siloed, using spreadsheet, multiple dashboards CRM, MAP reports One automated dashboard for any and all revenue data aka Single Source of Truth (marketing, sales, product, customer success) Marketing & Sales Alignment Misaligned, Got leads? Semi-aligned Fully-aligned on one revenue number 42