Revenue Marketing: Why is it essential to analyze and plan our actions?
What is revenue marketing?
It is a process applied to commercial and marketing actions to identify the generated income’s origin. Thus, one can estimate and optimize the next cycle’s results. The main goal? To make decisions based on evidence and convert inversions into an engine of repeatable, predictable, and scalable income.
How does it work?
It is all about identifying which marketing action generated a specific income (Webinars o Tradeshows, SEO or Digital Advertisement, SM, or PR).
Therefore it is crucial to be clear about the goal of your actions and how to measure them. You should identify if the action corresponds to the first stages of the marketing funnel (customer acquisition) or recalls the last stages (conversion). At this point, a fundamental aspect is to align the marketing department goals to the sales department goals. By promoting teamwork, we seek to measure and organize the flow of data that both generate.
The essential tools to achieve this are CRM (Customer Relationship Management) and Marketing Automation. Both allow automated data centralization in a digital application that serves as operational support for managing, controlling, and evaluating these departments’ performance.
To summ up…
When trying to implement Revenue Marketing, it is fundamental to define the attribution model correctly. We must consider where in the customer journey the interaction with the client takes place; and what percentage of the sale is assigned to each interaction.
Revenue marketing allows a better organization, guarantees and justifies each stages’ budget, and enables making decisions based on evidence.