Transcript
WHAT IS
the story of how Bizible marketing became accountable to revenue generation
PIPELINE MARKETING?
It’s why our marketing team now works toward one goal: revenue.
Pipeline Marketing is our strategy for revenue growth
As marketers, we didn’t always optimize for the most-important metric.
The metrics we were reporting didn’t allow us to persuasively prove the value of our marketing spend...
Fellow marketers experienced our conundrum, but didn’t
know how to fix it...
...We didn’t either.
What channels do
our customers
come through?
Burning questions we were asking ourselves…
How can we better target audiences?
Which marketing tactics had the most impact?
We really needed to know which marketing strategies were generating revenue for the company.
So we went looking for a solution...
We tried two things:
1Measure our marketing performance by:- opportunities created- revenue generated- new customers closed
We tried two things:
2Collect and use data from the entire funnel when making decisions.
Using metrics like...
Revenue by channel Revenue by lead sourceOpportunities by keywordOpportunities by channel
… helped us prove our impact on the bottom line.
Using these metrics convinced us of three things...
1. Lead generation should not be our only focus.
2. Marketing doesn’t make sense without a clear connection to revenue and sales.
3. Using and optimizing for top-of-funnel metrics only gives us half the picture.
We were shocked by what we learned.
Marketers often optimize for the wrong KPI’s.
Getting to know this story…
leadspageviewssocial sharesemail open rates
Lead Conversion
MarketingQualified
SalesQualified
...when they should know this story.
opportunitiescustomersrevenue
Lead Conversion
MarketingQualified
SalesQualified
Sales Opp
Customer
We realized just how strange marketing sounds without a clear connection
to sales and revenue.
Hello, I am a
marketer and
I help grow
companies.
Imagine explaining marketing to aliens...
Ooooooo….How do you
prove the value you create?
With pageviews,
bounce rates, &
visit duration
metrics!
Imagine explaining marketing to aliens...
…………….
Imagine explaining marketing to aliens...
I’d rather talk to the sales team. They actually make money.
Top-of-the-funnel metrics are still useful, but there’s so much more that can be done today...
- more touchpoints- more customer decisions- more content- more channels- more testing
Understanding the customer journey is tough…
...but it’s more important than ever.
When marketers can't see a buyer's journey from beginning
to end, they're unable to optimize their marketing dollars
to generate more customers.
Which might be why….
Only 1 in 5 marketers earn top marks from the
C-Suite for their ability to prove their value and
contribution, compared to 1 in 4 marketers in
prior years.- Marketing Performance Management, 2015
Only 1% of leads turn into revenue for the
average company. And top performers don’t even
get to 2%.- Forrester
Only 25% of leads are legitimate and should advance to sales.
- Gleanster Research
61% of B2B marketers send all leads directly to
Sales; however, only 27% of those leads will be
qualified.- MarketingSherpa
61% of B2B marketers send all leads directly to
Sales; however, only 27% of those leads will be
qualified.- MarketingSherpa
Ah, thatsucks!
Pipeline marketing focuses on a comprehensive view of the sales funnel, making decisions based on on the final stage -- revenue.
It’s about optimizing all aspects of marketing to widen the funnel at every stage to maximize growth.
Lead Conversion
MarketingQualified
SalesQualified
Sales Opp
Customer
Pipeline Marketing took three steps:
1. Connect sales and marketing data
2. Measure marketing’s performance based on customers and revenue.
3. Expand every stage of the funnel using bottom-of-the-funnel data.
And answered some important questions...
How much better are we at acquiring new leads customers?
And answered some important questions...
When can we expect leads revenue from our marketing campaigns?
And answered some important questions...
Can we show our impact and contribution to the bottom line?
Pipeline marketing helped us make important distinctions.
Lead Generation
Contacts creation
Top-of-the-funnel focus
Slows sales
Less efficient budget
Excludes conversion marketing such as
retargeting and nurturing
Pipeline Marketing
Revenue creation
Full - funnel focus
Accelerates sales
More efficient budget
Includes conversion marketing such as retargeting and
nurturing
Most importantly, we showed how much value we generated.
We started using the same metrics our sales team was using to measure our performance.
This inspired our organization to make a
complete shift to a Pipeline Marketing strategy.
Other organizations have found success, too.
75%said sales and
marketing were more aligned
5xhigher lead to opportunity conversion
87%increased
marketing ROI
And that’s Pipeline Marketing.
Who else is doing Pipeline Marketing?
top related