A Basic Revenue Marketing Strategy That Any B2B Company Can Use

Marketing and sales departments
in B2B companies are getting closer every year. That’s because every leading
B2B company is adopting a “revenue marketing strategy.” In this new marketing
strategy, generating revenue is the end goal of all marketing efforts.
Marketing efforts that don’t empower a firm’s sales or revenue-generating
capabilities don’t matter anymore to these B2B companies. Here’s why.Why B2B Companies are Adopting
Revenue Marketing StrategiesIn every B2B organization,
measuring the sales department’s success means measuring the company’s revenue
and business growth. Why shouldn’t the company’s marketing department be asked
to live up to such high standards? Adopting a revenue marketing strategy means
that every marketing effort your B2B company makes contributes to its financial
goals.Marketing that Compels Users to
BuyAccording to McKinsey, the
average B2B buyer uses 10 or more online sources to make decisions before
buying products. Adopting a revenue marketing strategy will help B2B companies
create online resources that really matter. In a revenue-centric marketing
model, customers are given content or information that increases their desire
to buy products.Marketing that Focuses on UsersFrom 2023, Google won’t allow B2B
sellers to track the data of their website visitors with third-party cookies.
That means short-term metrics like web traffic or lead volumes won’t matter as
much in the future. By adopting a revenue marketing strategy, firms can switch
their focus to understanding their customer needs better.Marketing that Delivers True
ValueIn 2021, 82% of B2B marketers
were evaluated on their ability to generate leads. The more leads a B2B
marketer generates, the better his/her performance scores. Of course, not all
the leads these B2B marketers generated were “high-quality.” Still, their
employers appreciated their ability to generate large numbers of leads.This lead-centric approach to B2B
marketing only leads to a misallocation of resources and efforts. By adopting a
“revenue
marketing strategy,” B2B company leaders can reward marketers who generate
high-quality leads. High-quality leads result in revenue for the company.
There’s a lot more value in these leads.Creating a Revenue Marketing
StrategyNow that we’ve acknowledged the benefits
of revenue marketing let’s see
how a B2B company can implement such a strategy. Organizations must take the
following steps –Align the Company’s Sales and
Marketing DepartmentsNo more separate departments. Get
your B2B company’s marketers and sales professionals in the same room. Help
them understand the importance of revenue marketing. Clarify important details
such as –• Marketing materials required by
the sales professionals to close deals.• The definition of “sales-ready”
leads.• Customer personas to target for
both marketers and sales professionals.• Once you’ve aligned your B2B
company’s sales and marketing departments, get the right professionals in the
right places.Create a Dedicated Revenue
Marketing TeamTo reach your firm’s revenue goals,
you’ll need a dedicated team to implement a revenue marketing strategy. Such a
team should consist of:• The B2B company’s Chief Revenue
Officer (CRO)• Chief Marketing Officer (CMO)• Chief Sales Officer (CSO)• Data Analysts who can help
marketers analyze dataInvest in Marketing TechnologyIn 2021, online B2B sales
increased by approximately $1030 billion. More B2B shoppers are buying online.
B2B companies must invest in the latest digital marketing tools to reach out to
these online shoppers. Some must-have B2B marketing tools include -• Customer Relationship
Management software (e.g., Salesforce, AutopilotHQ, etc.)• Marketing Automation tools• Business Intelligence tools
(e.g., Google Data Studio)Strategy, people, and technology
– synchronize these three elements to create a basic revenue marketing strategy
for your B2B company.MD: A well-designed revenue
marketing strategy can transform a B2B company’s fortunes. Here’s how B2B
companies can start revenue marketing.