Building a Revenue Engine - Revenue Engineer
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Transcript of Building a Revenue Engine - Revenue Engineer
Building a Revenue Engine
Joe Gelata
Building a Revenue Engine
Blog: www.revenue-engineer.comTwitter: @RevenueEngineer
Hashtag: #RevEngEmail: [email protected]
Introduction
• Sales, Field Marketing, Operations• Focused on revenue• Marketing & Sales Operations at Coreworx• B2B Software
Agenda
• Overview of Revenue Funnel– Sales– Demand Generation– Social
• Marketing Automation• Revenue Performance Management• Organizational Models– Marketing Operations Centre of Excellence– Revenue Office
Definitions
• Revenue Engine: system and processes that drive revenue from suspect to deal close
• Funnel: A group of measurable stages within a process, each further qualifying a prospect
• SCRM: Social Customer Relationship Management
• KPI: Key Performance Indicator• RPM: Revenue Performance Management
Survey
• How many of you have:– CRM?– Marketing Automation?– Social Media Strategy?
OVERVIEW OF REVENUE FUNNEL
Stage 1: Sales
• 1:1• Qualified Prospect• Many Sales Models• CRM Technology
Stage 2: Demand Gen
• 1:N• Demand/Lead Gen• Sirius Decisions
Waterfall Model• Marketing Automation
Stage 3: Social
• N:N• Topic is you• Social media• You can join• Revenue generation• Social CRM
Stage Interaction
• Marketing does more qualification
• Social influence grows• Social > Demand Gen• Demand Gen > Sales
MARKETING AUTOMATION
Marketing Automation
Challenges Adoption
Generate high-quality leads
Marketing to growing number of people
Generate higher volume of leads
0% 20% 40% 60% 80%
Plan17%
No Plan30%
Full/Par-tial
53%
Marketing Automation
• Features– Contact Database– Contact Segmentation– Email Engine– Forms & Landing Pages– Personalization– Lead Nurturing– Lead Scoring– A/B Testing
– Event Automation– Automated Data Cleanse– Dynamic Content– Progressive Profiling– Contact Level Activity
Tracking– Marketing Dashboard– Integration with CRM– Integration with 3rd
Party Apps
Marketing Automation
• Vendors– Aprimo– Eloqua– Genius– Loopfuse– Manticore
– Marketo– Neolane– Net-Results– Pardot– SilverPOP– Others...
Marketing Automation
• Only ¼ of Marketing Automation implementations hit their goal
SuccessFail
ure
Marketing Automation
• Document Lead Management Process• Standardize Terminology with Sales• Determine KPIs• KPIs are Metrics, Metrics are NOT KPIs• You get what you pay for
Marketing Automation
• Give yourself sufficient time• Build technology to support business• Internal & external resource• Build it backwards• Don’t launch before it’s done• Get trained• Continued enhancements
REVENUE PERFORMANCE MANAGEMENT
RPM
• “A systematic approach to identifying the drivers and impediments to revenue, rigorously measuring them, and then pulling the economic levers that will optimize top line growth”
• One view of the truth• Marketo & Eloqua
RPM
• Focus on KPIs– Campaign Attribution– Time in Stage– Funnel Leakage– Rejection Reasons– Weighted Pipeline– Total Revenue Conversion
RPM
• Case Study: Platts– Lead to Opportunity conversion: 23% to 31%– Marketing contribution to revenue: 22% to 28%
Revenue Growth2007 to 2010
•S&P 500: 15%•Eloqua Customers: 34%•RPM Users: 58%
RPM
ORGANIZATIONAL MODELS
Organizational Models
• Marketing Operations Centre of Excellence– Reports to CMO– Manages process & infrastructure– Build campaigns– Best practice standardization and training– Deep understanding of data– Targeted resources
Organizational Models
• Marketing Operations Centre of Excellence
Chief Marketing Officer
Product Marketing Field Marketing Market
Development Sales
VP Sales
Marketing Operations Sales Operations
Organizational Models
• Revenue Office– Reports to CRO– Marketing & Sales Operations combined– Ensures consistent process flow– Focused on revenue– Removes Marketing/Sales Alignment issues
Organizational Models
• Revenue Office
Chief Revenue Officer
Product Marketing Field Marketing Market
Development Sales
Revenue Operations
Summary
• Overview of Revenue Funnel– Sales– Demand Generation– Social
• Marketing Automation• Revenue Performance Management• Organizational Models– Marketing Operations Centre of Excellence– Revenue Office
Questions