Revenue Marketing it as a measurable and repeatable contribution by marketers to the creation of closed business. In other words, they are actions that create proven revenue out of marketing and are documented so that success can be repeated. It’s an optimized practice were marketing has a repeatable, predictable and scalable revenue engine, in order to forecast its impact on future revenue. This is why it’s so crucial for any company that applies measurement procedures destined for decision making, such as budget allocations or selection of investment channels.
One fundamental aspect of putting it into work it’s to align the Marketing department and the sales department. It’s vital that the objectives of both departments fall into line to ensure that they co-work to achieve the desired results. The main tools to achieve these goals are CRM and Marketing Automation. Both grant the data centralization in a semiautomatic and orderly manner, through a digital application that serves as operational support, management, control and evaluation of these departments.
How does it work?
This practice is based on the measurement and organization of data generated at each stage of the marketing and sales process of the company. At this point, we seek to identify which marketing investment generated the revenue. This allows us to select in which resources should we invest in the next cycle (Webinars or Tradeshows, in SEO or Digital Advertisement, in SM or PR). It’s fundamental to have clear objectives set for each action, an action that acts in the upper part of the marketing funnel is not the same than one that operates in the lower part. Some efforts will target customer acquisition, and others will focus on direct sales.
In order to correctly implement the Revenue Marketing process, it’s necessary to correctly define the attribution model that will be used. It’s important to take into account at which point each action will interact with the client and what percentage of the sale will be assigned to each interaction. To get this done, we need to understand how our customers’ shop. This is why it’s crucial to analyze the Customer Journey.
Revenue Marketing, while organizing the company, will give us the information to justify the budgets designating for each department on future business plans.