the new revenue engine in the age of digital marketing
DESCRIPTION
Discussion with TiE Boston related to key digital trends, including social media and inbound marketing that are driving new models for the Revenue Architecture.TRANSCRIPT
The New Revenue Engine In The Age Of Digital Marketing
John Stone
@jcstone3
Nan Hill
@nanlilahill
Revenue Architects – About Us
Consulting agency 100% focused on the revenue engine
Trusted Advisor, Delivery Partner, Solution Builder
Dedicated core team and Independent Network
Helping clients drive top-line performance with expert teams and a flexible talent model
2
Today…
Discuss some of the digital trends and key strategies that drive revenue today
Introduce the Revenue Architecture framework how to plan a revenue engine
Revenue Engine Workshop with the group to self-assess your current capabilities and priorities
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Disruption in the Revenue Engine
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Aware
Interested
Considering
Evaluating
Committed
Customer
Advocate
Mark
eting
Sale
s
Serv
ice
Service
Sales
Marketing
Old Model New Model
We need an integrated process to drive the engine…
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Are you on Facebook?
Are you tweeting yet?
Have you checked in on Foursquare?
Are you marketing your brand on the web?
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Our View: An effective web presence deepens and expands client relationships and is a powerful driver for revenue performance. Web presence begins with your website and extends to your digital outposts and web content. An effective strategy is critical….
Some Digital Drivers
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• Digital Experience
• Googleization
• Content Revolution
• Social Velocity
1. Digital Experience
Not much has changed, we need to deliver a well designed digital experience for our target audience.
• Branding
• Web Presence
• Inbound Engagement
• Impact
• Retention and Advocacy
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Attributes, personalities
Visual Design, Typography, Color
Brand/editorial voice, values
Attitude and personality, aesthetics
User-centered design
intent-based navigation
Personal brands
Branding & Design
Web Presence
From websites to web presence
20M month 400M Users
30M per month
50M month
Inbound Engagement
Permission Marketing
Content Marketing
“Self-Sell”
Nurture Programs and
Drip Campaigns
Landing Pages and
Microsites
Shared Control
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Image Source: Hubspot website
The web has shifted the buy-sell process…
Enable Self-sell
Information Access
Personalized Nurture Programs
End-to-end Commercial Management
Web 2.0 features and social media integration
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We need to impact our customer’s business
Impact
“Satisfaction” is no longer adequate
My primary experience of this type
I am proud that I am a user
I will recommend this to my network
Compared to my competitors?
Personalized experience
Material impact on my process
Changing the way I work
Realizing tangible business value
Easy to engage
Personal
Retention.. and Advocacy
2. Googleization
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Search is the window to audience intent. • Search
• Fire hose
• Organic vs. Paid
• Visibility
Search
Information Fire hose
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Inundated with information
Seeking relevance
Filtering
Seeking credibility from social networks
Key word search
Search: Organic vs. Paid
We seek organic results −Free
−More traffic
−Smarter people
−Longer lasting
Organic Results 75% Clicks
Visibility
On-page (25%) Page titles, Tags
Meta Data
Keywords
Off-Page (75%) Great content
Inbound links
Digital PR
Activity
Relevance
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3. Content Revolution
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In the world of search-dominated visibility, good content is more important than ever.
• Architecture of Participation
• The Long Tail
• Sticky and Spreadable
• RSS
• Blogs
• Publishing across Media
Architecture of Participation
User Generated Content
Wisdom of Crowds
The Audience wants control
The Long Tail
“Financial Planner”
“Financial Planner
for Verizon retiree”
Popularity
High Probability of Conversion Low Probability of Conversion
Low Cost
High Cost
Search
es /
Sit
e V
isit
ors
Sticky and Spreadable
Content Marketing is an art and a science. The focus is understanding what your clients want, and delivering it to them in a compelling way.
Great content is relevant, sticky and spreadable.
• Relevant
• Modular
• Authentic
• Entertaining
• Sharable
• Visible
• Accessible
• Stylized
• Optimized
• Managed
SUBSCRIBE
Articles, Links, Podcasts, Blogs, Photos, Video, etc…
Feed Readers, Aggregators, Flash, Google Desktop, iTunes, etc…
RSS – Really Simple Syndication
Subscribe to a feed and automatically receive updates
Search-based feeds / (e.g. Google Alerts) helps content find you
Subscriptions are free
RSS is the protocol for information sharing on the web.
Blog Content
A web site of posts published in reverse-chronological order
Brings more dynamic content to your audience
Can build presence with the media
Increase awareness and visibility
Publishing across Media
• Articles
• Blog Posts
• Podcasts
• Videos/Video Blogs
• Photos
• Presentations
• eBooks
• News Releases
• Web Events
• Traditional
3. Social Velocity
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Perhaps the hype has subsided a bit, but the medium is here to stay…
• The social Web
• The Big 3+
• Streams
• Crowdsourcing
• New Transparency
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The Social Web
The Big 3
500 million users
70 million users 190 million monthly
35 years of age+
Source: http://www.facebook.com/press/info.php?statistics
Source: http://www.quantcast.com/facebook.com#demographics
34%
58%
55%
Household Income $60,000+
College or Post Graduate Degrees
Million Users
500
35 years of age+
Source: http://press.linkedin.com/about Source: http://www.quantcast.com/linkedin.com
75%
69%
81%
Household Income $60,000+
College or Post Graduate Degrees
Million Users
70
35 years of age+
Source: http://www.quantcast.com/twitter.com
44%
52%
55%
Household Income $60,000+
College or Post Graduate Degrees
Streams
Real-time feeds and search
Aggregators
Presence
Incentives and promotions
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Crowdsourcing
Social opinions
Drives relevance
Wisdom of crowds
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New Transparency
x
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How do we respond?
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Some Strategies and tools
Build a brand identity..
Establish your presence…
Build relevance with long-tail focus…
Build cross-media content…
Mash-up with web 2.0...
Offer differentiating services ..
Build an inbound model…
Integrate sales and marketing…
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The Revenue Architecture Framework
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What is a Revenue Architecture?
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At a campaign, team, or enterprise level…. …the Revenue Architecture is the blueprint that describes the priority capabilities needed to effectively attract, nurture, sell and expand profitable relationships with targeted customers. By answering important questions about key revenue drivers, we can craft a better informed strategy and execute better sales and marketing campaigns and programs.
Revenue Architecture Framework
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4 Incentives &
Measures
2 Revenue Engine
Skills & Organization
Process & Technology
Content & Messaging
Web Presence & Experience
1 Market Strategy
3 Relationship Management
Revenue Architecture Framework
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Who are we targeting?
What is our core positioning?
How do we know we are
successful?
How do align incentives for performance?
How do we ensure we retain and grow
our base?
How do we organize and execute the
revenue engine?
Designing a Revenue Architecture
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What are the important revenue challenges?
Why are we doing this and how do we identify success?
What is really
important? and urgent?
What are the best options open to us?
How do we get there?
Imple
menta
tion
Initiate
Market Strategy
Prioritize Plan
Current State Target State
Step 1
Step 2
Step 3
Step 4
Step 5 Revenue Engine • Skills & Organization • Process and Technology • Web Presence &
Experience • Content & Messaging
Incentive & Measures
Relationship Management
Market Strategy
Revenue Engine • Skills & Organization • Process and Technology • Web Presence &
Experience • Content & Messaging
Incentive & Measures
Relationship Management
A five step process to organize and align around a plan.
This can take a few hours or a few months depending on scope.
Current State Assessment
What is our maturity level for
key elements of the Revenue
Architecture?
How important are these
factors to our mission?
What are our key Strengths,
Weaknesses, Opportunities,
Threats?
What are the gaps?
Which elements are most
important and most urgent?
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Market Strategy
Current State
Revenue Engine
• Skills & Organization • Process and Technology • Web Presence &
Experience • Content & Messaging
Incentive & Measures
Relationship Management
A Rapid diagnostic to determine key priorities and capabilities.
Prioritization = Focus
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Low scoring initiatives to be revisited over time as market conditions change
Low
High
Low High
Str
ate
gic
Im
po
rta
nce
Urgency
Strategic Importance: Does it matter? Urgency: How fast should we act?
Outcome: Top Priority actions for
sequencing into the plan
Feasibility: Can we do it? Impact: What do we get?
Low
High
Low High
Feasib
ilit
y
Impact
Watch list as opportunities change
Simple initiatives which act as “Add-ins”
Watch List
Add-ins
Target State
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Target markets, clients
Branding
Core Messaging
Organization
Skills
Value propositions
Collateral and Sales Assets
Cross-media
Web Presence
Inbound Marketing Model
Marketing Automation Platform
Marketing and Sales Process
A description of the revenue operating plan.
Target Market Strategy
Mission
Content and Messaging
Web Presence and Experience
Processes and Technology
Skills and Organization
Reven
ue E
ng
ine
Programs
Targets
Mktg Owners Sales Client
Actions
Current State Goal State
The One Page Plan
Revenue Initiatives aligned with Stakeholder Goals and Targets
Mission What is our overall
mission? Scope? Focus?
Targets / Goals Targets to be achieved
Action Plans Execution to
business growth
Future State Statements of
ambition for each element
Current State existing capabilities
strengths/ Weaknesses
Programs Specific Revenue Focused Campaigns and Programs
Pulling the pieces together into a one-page plan.
