“Shut the door. Have a seat.” – Don Draper
Picture this scenario, your CEO comes up to you and says these words before asking you to prove the impact of your marketing campaigns. Since modern-day marketers are way past the Don Draper, Mad Men days, proving success no longer means getting a creative advertisement in the newspaper or a top ad spot on TV.
Marketing leaders are being asked now, more than ever before, to show the true impact of your marketing investments on revenue. And in this scenario, you’ll want to make sure that, as a marketing leader, you can tell your CEO, beyond a shadow of a doubt that your marketing programs brought in that $4 million deal.
While many marketers have started leveraging data to tie every single marketing activity their team executed to cold hard cash, the 2017 Demand Generation Benchmark Study found that only 46% of all the marketers surveyed were actively measuring any type of influence on revenue. So, there is a lot of work to be done before marketing leaders are finally able to take an ever-coveted seat at the revenue table.
In our new ebook, the Marketing Leader’s Playbook for Creating a Culture of Measurement, we go over how you and your team can start embracing marketing attribution and lay the foundation for measurement success. Our goal at the end of reading this ebook is that you’ll have the power to walk into the next meeting with your CEO knowing exactly what your marketing brings to the business and finally earn that coveted a seat beside your sales teams at the revenue table.
Check out a few of the highlights of our ebook below.
Embrace Revenue Intelligence
Marketing leaders know this best — today’s buyer has access to more information and technology than ever before, so the needs and wants of the B2B buyer is constantly changing. This means marketing leaders have to push their teams to get creative when it comes to reaching their target accounts. Since there are so many different tactics across different channels used to create a “surround sound” motion amongst your buyers, marketing owns more of the buying journey than ever before. And more interactions means more data.
In order to understand how your customers make a purchase, you need to understand and track the full buyer journey—across all touch-points, channels, and individuals. You will need to know what message, channel, and touch works at any given time, for each decision influencer. And, you’ll need to know how both marketing and sales touches work together to accelerate buyers through your sales funnel.
How can accomplish all that as a marketing leader? You need revenue intelligence.
At BrightFunnel, we define revenue intelligence as, “accelerating revenue and orchestrating the right sales and marketing touches across the customer journey by analyzing attribution metrics throughout your sales funnel”.
By understanding what to say, when to say it and who to say it to in the buyer journey, you’re empowered to be much more targeted with your marketing team’s outreach.
Set the Right Goals By Function
At BrightFunnel, we think it’s incredibly important for each team member to pull their own reports, instead of relying solely on a marketing operations manager to pull reports for them. By insisting that they go through the process of understanding measurement and pulling their own metrics, your team will be much more connected to the numbers and the results.
An important first step to take with each member of your team will be to clearly define and outline a set of goals and a shared understanding of which metrics are important. While your content marketing manager may want to measure which content is bringing in net-new leads into the funnel, your social media manager will care more about which social media ads are impacting pipeline and revenue.
While the Don Draper old way may have been to measure marketing’s success on the pure number of net-new leads generated, when you shift to creating a culture of measurement that embraces revenue attribution, you metrics should go way beyond that! Just like your sales team, you should goal your marketing team on pipeline and revenue.
To learn more, download our new ebook on the Marketing Leader’s Playbook for Creating a Culture of Measurement.