Revenue Marketing is More Important Than You Think
Revenue Marketing has become one of the most talked-about marketing trends in recent years. But what exactly is revenue marketing, and how does it compare to other marketing strategies? Let’s take a closer look and find out.
Marketing and Sales Silos
Traditionally, marketing and sales teams tended to work in highly siloed environments with little-to-no crossover. Marketing teams would strictly focus on building the brand name and product recognition. Once finished, marketing teams would then pass the work over to the sales teams to finalize purchases and generate revenue.
“Historically, that was the way companies structured the two teams. Marketing and Sales were seen as different disciplines,” said Kevin Hill, Vice President of Digital Strategy at SproutLoud. “That was back when there was no such thing as demand generation, therefore no need for the two to collaborate.”
Revenue Marketing works differently. Rather than creating demand, it focuses on what the consumer wants. It looks to unify marketing and sales teams in order to meet organizational revenue goals, keep leads engaged after the sales teams take over, and maximize ROI.
What is Revenue Marketing?
Revenue Marketing is a type of marketing that focuses on lead generation. It uses different channels and processes to build marketing campaigns to help increase customer acquisition and sales. Revenue Marketing essentially connects the dots between marketing plans and revenue goals.
The Benefits of Revenue Marketing
When performed correctly, Revenue Marketing offers brands key benefits, including team unification, refined goal setting, and enhanced customer focus and experience:
- Team Unification
Revenue Marketing adds a layer of accountability for an organization’s marketing and sales teams.
“I think the biggest thing with Revenue Marketing is that it keeps sales and marketing teams out of silos as much as possible,” Hill said. “With marketing being a prerequisite of sales, having both teams accountable for each other helps keep them aligned and synchronized.”
- Refined Goal Setting
Once everything is said and done, Revenue Marketing looks to develop measurable ROI for an organization’s marketing teams tied to the revenue generated by sales teams. When marketing and sales teams march to the beat of the same drum, both teams can come together and prioritize revenue-generating strategies to meet their organizational revenue goals based on consumer demand.
- Enhanced Customer Focus and Experience
When brand marketing teams shift their focus to what their consumers need, they no longer have to preoccupy themselves with looking for ways to boost demand for a product. This shift in thinking could potentially open doors for marketers to focus on other areas, such as customer experience.
Meeting Consumer Demand and Revenue Goals
Equipped with a leading Distributed Marketing platform, brand marketers can easily make curated brand content accessible to their channel partners and employee end users. From there, the brand’s local resellers can access and customize co-branded content to align with local marketing campaigns to drive traffic, leads and ultimately lock in sales to meet revenue goals.
Revenue Marketing is ultimately more focused on the collaboration between marketing and sales teams to meet consumer demands.