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Building a Revenue Engine - Revenue Engineer
The document outlines the key components of building a revenue engine, emphasizing the importance of a structured revenue funnel that includes sales, demand generation, and social media strategies. It discusses marketing automation, its challenges, and the necessity for effective revenue performance management (RPM), providing insights into organizational models such as the marketing operations centre of excellence and revenue office. Additionally, it highlights the significance of KPIs and the adoption of technological solutions to enhance revenue growth.
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Building a Revenue Engine - Revenue Engineer
- 1. Building a RevenueEngine Joe Gelata
- 2. Building a RevenueEngine Blog: www.revenue-engineer.com Twitter: @RevenueEngineer Hashtag: #RevEng Email: [email protected]
- 3. Introduction • Sales, Field Marketing, Operations • Focused on revenue • Marketing & Sales Operations at Coreworx • B2B Software
- 4. Agenda • Overview ofRevenue Funnel – Sales – Demand Generation – Social • Marketing Automation • Revenue Performance Management • Organizational Models – Marketing Operations Centre of Excellence – Revenue Office
- 5. 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
- 6. Survey • How manyof you have: – CRM? – Marketing Automation? – Social Media Strategy?
- 7. OVERVIEW OF REVENUEFUNNEL
- 8. Stage 1: Sales • 1:1 • Qualified Prospect • Many Sales Models • CRM Technology
- 9. Stage 2: DemandGen • 1:N • Demand/Lead Gen • Sirius Decisions Waterfall Model • Marketing Automation
- 10. Stage 3: Social • N:N • Topic is you • Social media • You can join • Revenue generation • Social CRM
- 11. Stage Interaction • Marketing does more qualification • Social influence grows • Social > Demand Gen • Demand Gen > Sales
- 12.
- 13. Marketing Automation Challenges Adoption Generate higher volume of leads Plan 17% Full/Partial 53% Marketing to growing number of No Plan people 30% Generate high-quality leads 0% 20% 40% 60% 80%
- 14. Marketing Automation • Features – Event Automation – Contact Database – Automated Data Cleanse – Contact Segmentation – Dynamic Content – Email Engine – Progressive Profiling – Forms & Landing Pages – Contact Level Activity – Personalization Tracking – Lead Nurturing – Marketing Dashboard – Lead Scoring – Integration with CRM – A/B Testing – Integration with 3rd Party Apps
- 15. Marketing Automation • Vendors – Marketo – Aprimo – Neolane – Eloqua – Net-Results – Genius – Pardot – Loopfuse – SilverPOP – Manticore – Others...
- 16. Marketing Automation • Only ¼ of Marketing Failure Success Automation implementations hit their goal
- 17. 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
- 18. 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
- 19.
- 20. RPM • “A systematicapproach 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
- 21. RPM • Focus onKPIs – Campaign Attribution – Time in Stage – Funnel Leakage – Rejection Reasons – Weighted Pipeline – Total Revenue Conversion
- 22. RPM • Case Study:Platts – Lead to Opportunity conversion: 23% to 31% – Marketing contribution to revenue: 22% to 28%
- 23. RPM Revenue Growth 2007 to2010 •S&P 500: 15% •Eloqua Customers: 34% •RPM Users: 58%
- 24.
- 25. Organizational Models • MarketingOperations Centre of Excellence – Reports to CMO – Manages process & infrastructure – Build campaigns – Best practice standardization and training – Deep understanding of data – Targeted resources
- 26. Organizational Models • MarketingOperations Centre of Excellence Chief Marketing Officer VP Sales Product Market Field Marketing Sales Marketing Development Sales Marketing Operations Operations
- 27. Organizational Models • RevenueOffice – Reports to CRO – Marketing & Sales Operations combined – Ensures consistent process flow – Focused on revenue – Removes Marketing/Sales Alignment issues
- 28. Organizational Models • RevenueOffice Chief Revenue Officer Product Market Field Marketing Sales Marketing Development Revenue Operations
- 29. Summary • Overview ofRevenue Funnel – Sales – Demand Generation – Social • Marketing Automation • Revenue Performance Management • Organizational Models – Marketing Operations Centre of Excellence – Revenue Office
- 30.
- 31. Contact Joe Gelata [email protected] @RevenueEngineer www.revenue-engineer.com