Jumpstart Your Revenue Marketing Strategy
Energize Your Revenue Marketing Game Plan
Are you seeking exponential growth for your business?
If that's the case, it's crucial to establish an unstoppable momentum, prioritize revenue, follow your customers, and leverage technology to gain an edge over your competitors.
What Makes a Winning Revenue Marketing Strategy?
For a successful revenue marketing strategy, it is essential for both the marketing and sales teams to have a tight grasp on every stage of the purchasing process.
In order to make an impact on your customers’ minds and guide them towards making a purchase, you must capture their attention and sustain it throughout the journey by communicating the value your product and service offers.
I’ve identified three critical steps that contribute to a successful revenue marketing strategy.
1. Audit your Website and Marketing ROI
Marketing analytics software can be used to measure the number of visits, leads, and generated sales you earn for each of your marketing channels. Hubspot, for example, offers many tools marketers need to measure their digital marketing campaigns, as well as website metrics.
You want to test where on your website your Ideal Customer Profile (ICP) engages the most on your website. This can be on social media platforms, the company website, emails, affiliate marketing, paid media, organic media, content marketing, etc.
Revenue marketing needs to understand which channel drives the ICP into the funnel. As an example, high-intent demo form fills are typically more qualified and engaged leads than those generated by other means. These leads have already shown an interest in your product or service by requesting a demo, which can lead to higher conversion rates and ultimately, better outcomes for the overall business.
Knowing where your ICP engages ensures that your sales team is spending time on the most qualified and engaged leads. This can improve the lead-to-customer conversion rate and ultimately, generate more revenue for your business.
Once you know your analytics, you can use that data, paired with monthly revenue data, to estimate the conversion rate you aim to earn with your next campaign.
2. Conduct Research to Determine Actionable Steps
If you're unsure of how to determine actionable steps in your plan, it's always helpful to do some research or hire a research company who specializes in user behavior analytics, lead generation and tracking.
This will help you uncover actionable steps that work for similar companies' revenue marketing efforts. In addition, you will be able to optimize your marketing efforts to drive high-intent leads, which will generate better results, essentially creating more opportunities with fewer resources.
To gain an understanding of how your marketing efforts help one another, and how to structure a chronological plan, a little research is necessary.
3. Set SMART Pipeline and Revenue Goals
To reach your goals, it’s best to break them into quarterly deliverables. Remember to keep them SMART: Specific, Measurable, Attainable, Relevant, and Time-based.
Let me provide you with an instance of a SMART goal: "Create an online marketing campaign to [buyer persona] from [date] to [date] with a goal of [doubling] revenue in six months. Use repeatable channels based on previous recent data within."
What makes this goal SMART?
It covers a specific time span, is descriptive, identifies a task, and is measurable.
Keep in mind, SMART goals can change – they are simply a guide to making sure your goals are reachable.
Take a look at your prospect journey. where are the gaps and leaks? When looking at the funnel below, is the nurturing journey process air tight?
In other words, When the prospect engages with the brand, is there a delightful process or is it clunky for the prospect? If it's clunky, confusing or unclear, the prospect will not continue to engage.
4. Assemble all the parts.
Once you have an idea of how well you are converting leads into customers, you can set reasonable revenue goals, and narrow down your efforts to using the most effective channels and methods.
When you're building out the channels for your marketing campaign, keep in mind that every step in the Marketing plan should be based on revenue goals:
Spend some time ensuring the content you create will resonate with your ICP
Keep track of your Prospect Questions and then create Blog posts with keywords that are valuable to your target audience
Your social media content needs to engage with your ICP (ideal customer profile) and look-alike audiences
Achieving Revenue Goals
Revenue marketing should blend sales and marketing efforts with campaigns that go beyond lead and demand generation to link campaigns with reliable and repeatable ROI based on repeatable buyer behaviors.
This begins with establishing metrics that accurately align campaign endeavors with revenue results.
What does that look like?
Revenue generated by marketing must be attributed correctly, and methods, such as marketing automation, outbound nurturing, or landing page development are predictable, scalable, and repeatable across the team in the following ways:
Predictable: When your Fractional CMO or VP of Marketing meets with the Executive Leadership Team, they will have a report showing marketing’s revenue contribution over the past month, quarter, or year.
Scalable: Campaigns, reporting, content development, and attribution are all done similarly across any vertical, business unit, or product group. Anything new has a ready-made base from which to build.
Repeatable: Processes for success are documented so that any new Marketing additional can quickly pick up processes and begin contributing to the revenue machine.
Sustain the demand for your buyers by continually testing, learning, and iterating, while optimizing the customer flow and cultivating trust. Ultimately, this approach will bring your revenue marketing strategy to fruition.
If you are exploring the option of hiring a fractional executive, discuss with Mindy Anderson how to take your business to its next phase of growth.
About the Author
Mindy Anderson, a data-driven and results-oriented digital expert and marketing leader, has consistent experience driving 2X - 10X improvements in visitors, sales leads, conversions and revenues.
Available as either a Fractional CMO or Fractional Chief Growth Officer, she helps a select few companies scale their growth. Mindy delivers advanced digital & brand strategies and innovative multi-platform campaigns, with expertise delivering sophisticated strategies that generate revenue and superb bottom-line results.
Read Mindy's bio.
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