Absolutely love the book!! This is a much needed guide for the companies that are still on the beginning stages of the Revenue Marketing journey. The book can be the guide with a wonderful description of the steps and possible pitfalls, and inspiration from marketers who reached the destination. We are all lost – as an author was lost a few years ago. Hopefully, our journey will be easier – we have the guide.
Definition of the revenue marketing:
The combined set of strategies, processes, people, technologies, content, and results across marketing and sales that does four things:
- Drops sales-ready leads into the top of the funnel
- Accelerates sales opportunities through the sales pipeline
- Measures marketing based on repeatable, predictable, and scalable (RPS) contribution to pipeline, revenue, and ROI
- Transforms marketing from a cost center to a revenue center.
A very important point highlighted through the book – the journey might take several years – particularly for large established organizations.
I absolutely love the progression stages – they make so much sense and placing your own organization at a specific stage is easy. And thought-provoking… to realize where your organization currently reside 😉
Though most marketers understand very well that sales involvement is critical, it was a pleasure to read the arguments and reasoning to use at the office 😉
A very interesting point – to find a disruption (around sales) which can be used to introduce the start of the initiative. In one case a company found that majority of the sales were done by the elite group of reps, and the rest of the field could not reach quotas and suffered from high turnover. The revenue marketing initiative was positioned as an attempt to bring more reps to the quota and help new reps to adjust faster.
The metrics chart explains the progression of marketing metrics through the journey – and show the “goal” set of metrics (what is typically difficult to explain to management before the system is functioning).
Another interesting point is highlighting the role of Marketing Technologist and the fact that IT should report to Marketing for the best business results… The author (and many of us) was very impressed by the Motorola’s move to CIO reporting to CMO.