geralt / Pixabay
When I bought my first marketing automation (MA) system in 2004, the idea that marketing could impact revenue was the driving force. A life-long sales leader turned marketing leader, I knew our customers had changed and I needed to find a new way to engage and affect revenue growth. My solution – Eloqua and Salesforce and a solid confirmation that marketing’s charter is helping sales drive revenue. Period.
In 2007 I became a partner at The Pedowitz Group and our charter was to help marketers use technology to impact revenue. In 2010, I coined the terms ‘revenue marketing’ and ‘revenue marketer’ as a way to describe the industry’s market dynamic. It was interesting when we used these terms. We got one of two responses. Either they would look at us like we had just sprouted a second head or they would pause, look us in the eye and say: “Now that’s interesting… tell me more.”
The concept of a B2B marketer accountable for revenue began to gather steam and many voices joined this chorus. In parallel, we began to see an explosion of choices in technology to execute on the transformation and many practical examples of how B2B marketers could and should be accountable for revenue.
In 2017, my reflections on the role of the Revenue Marketing leader and marketing, in general, have evolved. Today, revenue marketing 2.0 consists of the three Cs:
“Culture eats strategy for breakfast”
Peter Drucker, author
The majority of B2B marketing organizations feel pressure to show ROI and impact on revenue, but only a third of B2B marketers can demonstrate these results. As I review the many customers with whom we have worked and I have spoken with or interviewed, a key conclusion emerges for marketing today: culture eats strategy for breakfast. This phrase from management guru Peter Drucker and popularized by Mark Fields, president of Ford Motor Company, is essential to understanding marketing transformation, or lack thereof.
As good as it sounds and as possible as it is, many executives cannot wrap their head around marketing being a credible part of the revenue team. In many ways, this perception of marketing represents unconscious bias (a bias we’re unaware of) and it can be an extremely negative and a largely hidden factor to overcome. This is a big part of strategy – what people believe and don’t’ believe both consciously and unconsciously. I’ve counseled many marketers to leave their companies because no matter what they did, their executive team and the company overall simply could not see marketing as more than anything except the ‘pens, mugs and events’ people. For the revenue marketer to be successful, they must work in a company with a set of conditions that are pre-disposed to embracing this change from marketing. These pre-conditions include an on-going history of company innovation, an intense and agile customer focus, and an appetite for life-long learning.
“Get closer to your customers. So close that you tell them what they need before they realize it themselves”
Steve Jobs, entrepreneur
Source:: Business 2 Community