5 strategies to try when your revenue goals go up
TRANSCRIPT
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What We’ll Cover
Marketing’s Convoluted Revenue Mandate
Honest assessment of your REVENUE MARKETING maturity
5 Revenue Marketing Strategies:
Know Your Baseline/where you are
Re-examine & Shape GTM Strategy
Re-think roles to build a high-performing team
Develop programs (beyond lead generation) that move the needle
Best practices & KPIs to measure and optimize
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5
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The Promise of
Marketing-driven
REVENUE
is Under Attack
Standard Issue “Revenue” Formula
Inbound-driven •
Standard Issue “Revenue” Formula
• MA Platform
Volume •
Inquiry-focused •
• Score Nurture Qualify
• MQLs
Complexity Stunts Revenue Generation:
Where to Focus
8
Organizational,
Talent & Data Silos
Cross-Channel
and CX Work
in Progress
Full-funnel Tech
Solution NOT There
Next Tech:
AI, Machine
Learning in Phase 1
© 2017 Integrate, Inc. 9
Honest Assessment
Demand Marketing
Maturity Curve
10
STRATEGY 1: UNDERSTAND
WHERE YOU ARE NOW
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Examine your current acquisition
strategy- How well is it working?
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Do you know what type of customer or segment
is ideal for your business?
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Segment Customer Churn
Rate
Revenue Churn
Rate
<50 42.3% 43.54%
Small 23.3% 23.54%
Medium 11% 11.4%
Enterprise 5% 5.7%
Look at your key segments. Do you know which is the most profitable for the business? Is your current strategy optimized for that?
Example:
Marketing Strategies
AND
Fishing with nets. You don’t care which fish you
catch as long as you catch enough fish. The fish
always swim towards you.
Demand GenerationFishing with spears. You care deeply about
which fish you catch, and you’re going to
proactively go pursue those fish.
Account Based Everything
Sometimes too much hereSTART with ICP and sales targets.Sales sells to leads marketing sources.
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When can ABM help?
Higher Value
Accounts
Longer Sales Cycles
Land and Expand Strategy
Selling to a Buying Center
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ABM for the right acquisition
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Segment Customer Churn
Rate
Revenue Churn
Rate
<50 42.3% 43.54%
Small 23.3% 23.54%
Medium 11% 11.4%
Enterprise 5% 5.7%
Example:
What is our ideal customer profile?
How can we acquire more of that?
ICP
ABM for customers – cross-sell / up-sell
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STRATEGY 2: GTM
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Define your ICP
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Current
Customers
1Identify your ICP – Ideal Customer Profile• Key vertical (ex: healthcare, entertainment, construction)
• Historical data – (where have you had success?)
• Firmographics – (size of company, revenue, geography)
• Other signals – intent data, hiring patterns, etc.
2
3
Figure out the TAM – Total Addressable Market• How many accounts in my database fit that profile?
• How many in GEOs we support (location)?
• What is the white space?
Prioritize Accounts• Can use predictive scoring (account scoring) + intent data
• Sales input
• Historical data (closed won analysis)
Current
Total
Available
Market
(TAM)
Current
Target
Market
Create your plan
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$$$ Revenue Goals
Pipeline Required (sources can vary marketing, sales, partner)
How can we bring in the BEST quality pipeline most efficiently?
ENT Segment – Need Z%
POR GOAL
Mid-Market Segment –
Need Y%
POR GOAL
Small-Business
Segment –
Need X%
POR GOAL
Example: inbound
marketing modelExample: Programmatic
ABMExample: ABM
What is our optimal strategy to get there (mix of DG /ABM- programs, tactics)
This
breakdown
should be
the optimal
mix to most
effectively
hit revenue
targets
Set goals - Be clear what you are moving towards
Have a hypothesis – We think this set of accounts in the health care vertical makes sense for us to pursue.
–Higher ASP
–Faster sales cycle
–More cross-sell, up-sell potential
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Example scorecard
Engagement Sales Appt Pipeline Opportunity
Size
Win Rate
>80%
of target accounts.
>30%
tier 1 prospects
40%
of enterprise initial
Pipeline from
Targets
45%
increase in Opp
Size
50%
higher for target
accounts
Time frame = Year One
Should HELP get to your revenue goals more efficiently
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Account Tiering
Large- 5-50 accounts (“tens”)
Rich account plans; Every touch personalized
$100K – $1B+
Named -50-1,000 accounts (“hundreds”)
Light research + data build out
Personalized touches to key personas
$50k – $100k
Industry - 1,000+ accounts (“thousands”)
Automated touches OK
Industry and persona customization
$25k – $50k
Style 3
Programmatic
Style 2
Scale
Style 1
Strategic
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Type of
Program
Program Accounts
Tier 1 Tier 2 Tier 3
Direct Mail High value Post card – lower value Post-card lower value
Field Events Lunch and learn + dinners +
onsites
Lunch and learn Lunch and learn
Tradeshows Special dinner
Playmaker sends Yes Yes Yes
Database sends In some cases OK Yes Yes
Targeted Ads Yes + tailored content + logo Yes + industry Yes – industry
Content Syndication Yes – verticals and key
companies
Yes – verticals Yes -verticals
Sales outreach Yes (calling campaigns, drive
attendance)
Yes (calling campaigns, drive
attendance)
No
Appt Setting Yes Yes No
Contact Discovery Yes Yes No
Customer content
Custom streams
Yes (tier 1 and 2)
Program entitlements
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Be honest…
• What can Sales realistically support?
• What can Marketing support?–Resources
–Budget
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STRATEGY 3:
TEAM & STRUCTURE
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Product
Marketing
Corporate
Marketing
Revenue
Marketing
Field
Marketing /
Partner
EventsMarketing
Operations
PR
Website
Design
Customer
Loyalty
Social Media
Product
Marketing
Analyst
Relations
Marketing
Programs
Marketing
Automation
Customer x-sell,
up-sell
Digital Marketing
(SEO, SEM, PPC,
paid social, website
conversions)
Content Marketing
Regional field
marketing and
sales support
Partner
Marketing
Tradeshows
User
Conferences
Road shows
Planning
Metrics
Review
Program
Reporting
Systems
Performance
Leverage your current team
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Some key questions
• Identify WHO in the org helps determine optimal business segments and ICP?– Looking at historical data– Firmographics, technographics– Evaluate ICP and how it changes over time
• Identify WHO in the org reviews account data regularly?– Lead to account matching (L2A)– Account build out for key titles (data purchase, enriching data, accuracy)– Mapping parent – child relationships in CRM– Label accounts (tagging in CRM)– Ongoing data process – for dupes, etc.
• Identify WHO in the org drives orchestrated play strategy and execution?– Drive opt-ins– Early awareness through mid – late stage– Actions for key personas– Messaging and content
• Identify WHO ensures key information is communicated to Sales and other stakeholders?– Rolls out accounts to Sales– Interfaces with Sales regularly on programs– Works with Sales on account plans (if applicable)– Updates Sales on program impact – where there are opportunities
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Where your current team gets involved
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Ideal Customer Profile
Identified
Build your
foundation first
1.
Understand
account behavior
2.
Now decide
on tactics
3.
Run personal
plays
4. 5.
Measure results
Marketing
Operations
Product
Marketing
Revenue
Marketing
with Sales
Field
Marketing /
Partner
Field
Marketing /
Partner
Revenue
Marketing
with Sales
Revenue
Marketing
with Sales
Revenue
Marketing
example
Evolving the team over time
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Pilot –% of team
for discreet timeGoal – Showcase early wins,
prove hypothesis
Dedicated % of
team for ongoing
timeGoal – Scaling success for key
segments
Dedicated people
or ABM demand
centerGoal – Larger roll outs (global)
Time
Resu
lts
example
Example of a Core Team for ABM
Role Sample Responsibilities
ABE Leads (head of
marketing)
• Spearheads the initiative
• Develops playbooks and tech infrastructure for successful initiative
• Tracks the metrics and communicates the program’s successes
Product Marketing +
someone with data
skills
• Helps figure out ICP – then rank accounts – who is the best fit for your company
Marketing Manager
• Runs the program mix – highly personalized for tier one – customized for tier three
• Crafts account-specific emails and messages
• Nurtures relationships over time
• Supports Sales
Marketing Ops/Sales
Ops• Tags accounts in CRM – helps do data appending (for contact build out)
Strategic Account
Manager (AE)
• Drives the plan forward with the team and at the account
• Helps shape the ABE strategy and each account plan (only for Tier one)
Executive Sponsors• Deal / customer support to drive engagement
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• Better results – ex: higher ASPs
• Expand Deal Size
• Sales Cycle is Shortened
• Eliminate unqualified buyers right away. Your focus will be on accounts most likely to buy.
• Can be a ‘rinse and repeat’
• EASIER to work with marketing!
Get Sales Buy- in: Why should I do this?
• Shared incentives/ compensation
• Run a pilot
• Identify your sales champion
Why? How?
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STRATEGY 4: PROGRAMS
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If you remember one thing today
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Random acts of kindness = good Random acts of marketing = bad
Anatomy of a program
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Goal: Awareness
Is the company aware of your
products / services?
Goal: Engagement
Are the right people engaged
and interested?
Goal: Action
Do they have what is required
to make a decision?
Ask: What set of tactics make sense for these objectives?Note – It’s never just ONE activity.
Where do you have coverage?Do you have sufficient data, opt-in contacts, and account plans for each target account?
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Where do you need to drive awareness?Which target accounts have any awareness of us? Are they visiting the website?
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Content for different tiers
• Messaging for key buyer(s)
• Content for different stages – can be simple!
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Content examples
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Targeted Ads Personalized eBook Personalized Video
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Example plays
Program Example – Goal – Penetrate New Accounts
Targeted adsentire account
EmailT: Head of SalesF: ADR
Direct MailKey personas
EmailT: Head of MarketingF: ADR
ChecklistPackage received?
PhoneT: Head of SalesF: ADR
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Test! Core Prospecting Play
205 193 113 45 24 1Mtgs Opps Deal(so far)
EngdPkgs Resp
22%
Meeting Rates
Books only: 25%
Kindle only: 21%
Ads and Kindle: 21%
Ads and Books: 13%
Not significant
Web Traffic Visitors
Ads +43% +47%
No Ads +22% +8%
Directionally meaningful but not significant
34.2x pipeline to spend
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Program Example – Goal – Drive further engagement in accounts
Sirius Decisions 2017
• Before Event– Personalized Plays:
• AE Meeting Request + Executive Meeting Request Play + LinkedIn Step
– Broad Touches:• Evening Event Invites
• VIP Experience Contest
• During– Customer Success Presentations– Booth Demos
– Executive Meetings in VIP Lounge– Leverage Analyst Announcements– Evening Events – Reception and Dinner
• After
– Timely Follow Up!– Ongoing Nurture
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Program Example – Goal – Drive a Decision – Deal Nurture
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Challenge – Initial interest, but a
deal slows or does not progress to
the next stage
Process – Run targeted play to key
stakeholders to shorten deal cycle.
Deal Nurture: Results
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Cadence: Monthly
Stage: Using play for stage zero opportunities (right person, budget, not right timing)
Goal: Expediting the deal cycle, reinvigorate stalled deals
Results: Immediate responses from set of deal zeros!
Make it Personalized to Drive Results
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Support ADRs and Sales – Help them Act
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STRATEGY 5: MEASUREMENT
& OPTIMIZATION
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#1- Know what is effective at
different stages
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#2- Optimize with ongoing testing
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#3- Measure from day one (have baselines)
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#4 – ABM metrics are different
• Focus on quality not quantity
• Track accounts not leads (MQAs not MQLs)
• Time spent (engagement minutes)
• Track impact and influence more than try to apportion ‘credit’ (team effort)
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Impact: Are ABM activities improving key sales outcomes?
Do you have sufficient data, contacts, and account plans for
each target account?Coverage:
Are the target accounts aware of your company?Awareness:
Are marketing programs reaching target accounts?Reach:
Are the right people at the account spending time with your
company? Is that engagement going up over time?Engagement:
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Engagement
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Example – How to report early stage progress
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Example – How to report later stage progress
Total
Accounts
Engaged
AccountsMQAs People Open Pipeline
FY18
GoalCurrent
FY18
GoalCurrent
FY18
GoalCurrent
Newly Added
FY18 Goal
Newly
Engaged
FY18 Goal
FY18
GoalCurrent
Target Accounts
w/opps
w/o opps
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Move Focus Down Funnel on
Revenue Creation
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spending time, resources on low-value creating tasks,
campaigns and simple lead generation
Locking Arms with Sales, Customer Success
Converting Pipeline to Revenue
Delivering Quality over Quantity
Deploying Tech Thoughtfully