Turning Marketing Into a Revenue Engine

Author:

Aurelien Mottier
Reading Time: 3 minutes

Episode

42

Turning Marketing Into a Revenue Engine

Aurelien Mottier

CEO at Operatix

Lee Hackett

CEO at Blueprint

CMOs are often faced with an overwhelming amount of shiny new toys when they step into their role — marketing automation platforms, ABM tools, website personalization, the list goes on. But regardless of where they place their efforts, CEOs and CFOs often look at marketing and ask: What is the bottom-line contribution?

If CMO contributions are not observable in terms of ROI, the CMO may eventually vacate their position. Then, a new CMO comes on board, and the cycle starts again.

Lee Hackett sees it all the time. It’s what keeps him up at night, and it’s part of the reason he started Bluprint in 2013, where they help CMOs and marketing leadership maximize their investments in marketing technologies.

With 25 years in marketing, Lee has a lot to say about how marketing leaders can tie their hard work to the bottom line of the company to not only validate their position, but earn the recognition as a major asset.

Lee joined us on The B2B Revenue Acceleration Podcast, and we captured all the highlights below:

CEOs Want (Demand) ROI Measurements

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CEO’s and CFO’s want ROI. They want to know: ‘if we put a dollar in, what do we get back, and when do we get it?’

Lee Hackett

CEOs want ROI. They demand it. They may make an initial investment into marketing, into redesigning a website or signing off on a marketing automation platform, but if they can’t tie that investment to ROI, they will lose interest and doubt the CMO.

CMOs must shift their mentality from a siloed measurement of tactics only. Measuring website traffic or how many people came to an event is putting too much emphasis on the tactics themselves, not on the actual results.

Ultimately, the marketing department must align with the other sectors of the business, particularly sales. Otherwise, marketing will spend plenty of time gaining more traffic, increasing MQLs, having more conversations, showing up at more events … and these all may be increasing marketing KPIs, but the question will still linger:

Are any of these marketing efforts really moving the needle?

The Problem: Too Many Shiny New Toys

It’s easy for marketers to get distracted. There are plenty of investments being made into marketing, and  there is no shortage of “shiny new toys” CMOs and digital teams can purchase.

Many of these technologies (marketing automation platforms, for example) come with the pretext that they will really shift the needle. In reality, many of these technologies do little to nothing to move the bottom line.

If CMOs desire true effectiveness in their organization, their goals have to be aligned with the organization’s overall strategy.

CMOs Should Start by Demanding: Measure Me Against the Bottom Line

A good CMO should start their efforts with being tied to revenue. Lee says that CMOs should go to the CEO and CFO, and request:

“I want to be tied to the bottom line, and I want the power to impact it.”

This is usually a tremendous mental shift, especially for enterprise-level companies, and may require some organizational change.

Read this article on 6 Lessons One Expert Learned From B2B Marketing

The Crucial Elements Are Consistency & Alignment, Not Tactics

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The crucial elements are consistency & alignment.

Lee Hackett

To achieve bottom-line results, there are no magic tactics, Lee said. Every business will have different forms of revenue generation, demand generation, content syndication, ABM strategies, etc, in their particular segment.

The performance of marketing is based less on the tactics, and more on the consistency of the approach, and whether or not the goals are aligned with sales.

When there is a combined sales funnel, agreed-on methods of working leads or accounts, and a uniform measurement, tactics matter less than the fundamentals of consistency and alignment.

Attribution Alignment: Without This Key, Nothing Matters

The importance of alignment is especially important when it comes to attribution.

Often, organizations have relatively accurate attribution at the top, but measurement becomes more difficult throughout the funnel. Salespeople often don’t put pipeline into salesforce or in their CRS, or marketing and sales have different metrics.

Until the sales and marketing teams align on attribution and metrics, there will always be a diminishing effect of any tactics or strategies implemented by marketing.

You’re probably thinking “this sounds a lot like ABM.” Yes, it does — but it doesn’t only apply to ABM. It applies to the underlying thinking about the mission and strategies of marketing and sales.

Wrap-Up

To wrap up:

1. CMOs (and all marketing leaders) must limit the distraction shiny new toys can bring.

2. CMOs must align their KPIs to the bottom line of the industry.

3. Consistency in approach and alignment with sales are more important than the tactics themselves.

4. CMOs must link with sales to tackle attribution alignment.

This post is based on an interview with Lee Hackettfrom Bluprint. You can find him on LinkedIn or on Instagram @Lee_Hackett

To hear this episode, and many more like it, you can subscribe to The B2B Revenue Acceleration Podcast.

If you don’t use iTunes, you can listen to every episode here.

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About Operatix

Operatix is a Sales Acceleration company specialized in supporting B2B Software vendors to identify new revenue streams, increase qualified sales pipeline, and accelerate channel development across Europe and North America. Operatix has a wealth of experience in working with the biggest tech players worldwide as well as a multitude of emerging software vendors.

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Channel Transformation

Digital transformation is changing how companies buy and use business solutions, making vendors re-assess the capabilities of their channel ecosystem. With channel dynamics in constant flux, vendors need to be ready to cut ties with partners that don’t share their vision or have connections with the right B2B buyers.

 

Operatix has supported numerous vendors in their path to Channel transformation by assessing current partners and recruiting new partners that are more aligned with their new channel strategy. Once the right partners have been identified, Operatix built scalable outbound sales development programs that accelerated their routes to market.

Inbound Response Management

In a competitive industry like technology every lead counts. Operatix can help you maximize conversion from MQL to SQL and from lead to pipeline, increasing both your revenue and ROI on marketing activities.

Account Identification

Identifying the accounts that are more likely to buy from you is part of our expertise. We will research the market, identify verticals and industries that can benefit from your solution and set up qualified sales engagements for your teams to kick-off the sales process. 

Cold Prospecting

Our team will identify new sales opportunities within the strategic accounts that you haven’t been successful in penetrating through your sales & marketing efforts. By applying the ‘Challenger Sale’ methodology we use a tailored, multitouch approach to connect with prospects, generating qualified sales engagements for your team and ultimately increasing your pipeline.

Outbound Sales Development

Using a proactive outbound sales approach has been proven to be one of the most effective methods to engage with prospective customers. By applying the ‘Challenger Sale’ methodology we use a tailored, human approach to getting in touch with prospects to increase your qualified sales engagements and ultimately generate more pipeline.

Outbound Sales Development

Using a proactive outbound sales approach has been proven to be one of the most effective methods to engage with prospective customers. By applying the ‘Challenger Sale’ methodology we use a tailored, human approach to getting in touch with prospects to increase your qualified sales engagements and ultimately generate more pipeline.

Partner Concierge Service

Our Partner Concierge Service helps vendors accelerate their channel programs, by engaging and nurturing channel partners and supporting them to get to revenue quicker.

Demand Generation

Whether you need to implement a demand generation strategy or get more results out of your existing demand gen engine, Operatix can work alongside your marketing team to yield better results out of your demand generation programs.

Account-based Marketing

An Account-based Marketing strategy is only as successful as the revenue it generates. At Operatix we will support your 1:1, 1:few or 1:many approach to get your team in front of decision makers in the accounts that matter the most to you. 

Lead Qualification

If your marketing leads aren’t converting, it might be a lead qualification issue. Operatix can help sieve through leads that need further qualification, so they are ready for an AE or sales team member to engage with.

Account-based Selling

At Operatix we will support your 1:1, 1:few or 1:many approach to get your team in front of decision makers in the accounts that matter the most to you. 

Pipeline Generation

Generating Pipeline for our clients is our key-objective. And we do that by using a multi-touch, multi-channel approach to generate qualified sales engagements for our customers’ sales teams.   

Account Intelligence / Deep Dive

Understanding buying centres, hierarchies and relevant personas in strategic accounts is a fundamental step to increase conversion rates. By leveraging account intelligence in a sales conversation your team can tailor their message and provide value to their prospective customer. But sales & marketing teams often struggle to dedicate time and resources to do the deep research and this is where Operatix can help.

DMID – Decision Maker Identification

Finding quality data is an on-going challenge for B2B Tech vendors. The accuracy of data platforms is questionable and that is why Operatix developed a manual process to identify & verify contact details for decision makers within strategic target accounts.

Playbook design

Operatix can develop Sales Playbooks that enable teams to sell more effectively. Your Playbook will be fundamental to get your messaging right, accurately position your solution against competitors, and adapt the communication of your value proposition to different buyer personas.

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Sales Playbook Development

Operatix can develop Sales Playbooks that enable teams to sell more effectively. Your Playbook will be fundamental to implementing the correct messaging, accurately position your solution against competitors, and adapting the communication of your value proposition to different buyer personas.

Lead Qualification

If your leads aren’t converting, it might be a lead qualification issue. Operatix can help filter through leads that need further qualification, ensuring that they’re ready for an AE or sales team member to engage with and progress through the funnel. 

Partner Portal / Marketing Concierge Service

Vendors often spend thousands of dollars building multifunctional Partner Portals to help channel partners educate their teams, manage opportunities, and create marketing programs. Still, these portals are often underutilized due to lack of bandwidth and capacity from vendors to offer support in enabling their partner community. Operatix, through their Partner Development team, can support your partners to make the best use out of your partner portal, managing the relationship with your partners and helping them set up co-marketing campaigns to drive more revenue for both businesses. 

Marketing & Sales Alignment

The sales development function is often seen as the “glue” that brings sales & marketing teams together. By working as an extension of your teams, Operatix will be your predictable source of pipeline, sales & revenue.

Optimization of MDF

Market Development Funds are an important component of any channel ecosystem, though vendors believe they are not maximizing the return on investment they should be getting from their MDF programs. At Operatix, we build scalable outbound sales development programs that will give you the visibility of return over the invested spend and will provide clear value for your channel partners.

Increase Partner Productivity

The 80/20 rule is still very applicable to the channel, which means that investing in partner productivity should be a priority for vendors looking to grow their businesses. Operatix can increase partner productivity and shorten sales cycles, by identifying ready to engage sales opportunities for your most valued channel partners.

Virtual Channel Account managers

Our VCAM team is responsible for building, maintaining, and managing sound relationships with current and prospective channel partners. They can get involved in opening up new sales conversations as well as closing small businesses up to $ 10k.

Tier 1 & Tier 2 Activation

Whether your business decided for a Tier 1 or Tier 2 distribution model, Operatix can help your channel partners get to revenue quicker. By providing qualified sales engagements to your channel partners we can accelerate your route to market with tangible and easily measurable results.

Solution Selling Training

Far too often vendors insist on enabling their channel partners to talk about features and technical details of their solutions. Customers don’t buy features; they buy the benefits your solution can bring. Operatix will work with your partner community to train them in articulating your message from a high-level business perspective, enabling them to talk to prospects about the value your solution can bring to their company from a board-level perspective.

Channel Enablement

Enabling your channel partners have measurable wins for your business when done right. Operatix has a proven track record in enabling channel partners from a sales & marketing perspective, providing them the knowledge and tools to successfully pitch your solution and sell the value & benefits of it. 

Partner Recruitment

Recruiting the right Channel Partners is the first step for a successful channel program. Operatix has helped over 350 B2B Software vendors recruit suitable channel partners across EMEA and North America, supporting them to scale and expand their presence in different geographies and verticals. 

Risk/Reward Business Model

To truly work as an extension of our client’s sales & marketing teams, we have also adapted our business models to show how our clients operate, and how their success is measured. With our risk/reward business model your investment is proportional to the results our team delivers.

Sales Qualified Leads

On average, 52.5% of the sales engagements set up by our team progress into a next step in the sale process. That means that 5 out of 10 meetings will progress either into a POC, a Demo or a pipeline opportunity.

Geographical Scale

Trading in different geographical markets not only requires a knowledge of the native language, local rules & policies, but a deeper understanding of the local culture and habits. We have the ability to deliver campaigns in multiple countries with flexible resource allocation. This is through our team of international speakers, who have the ability to sell in 17 different languages across the globe.

Increase Revenue & Decrease Cost

Building an internal sales development team comes with many additional costs and challenges that aren’t always taken into account: recruiting resources, training and enabling them etc. You also need to take into account the need for having the data and tools to make them successful, which in turn requires time, capital and effort. By outsourcing your sales development to Operatix you will see your revenue increasing, while decreasing costs and business risk.

Predictable Pipeline Generation

On average, our clients see a 26X ROI on the programs we deliver. By understanding your revenue targets and sales pipeline gap, we will work on a sales & marketing plan that will deliver tangible results.

Vertical Growth

Entering new industries or launching new product lines? Operatix can accelerate your growth by supporting your go-to-market strategy, and getting your sales teams in front of decision makers in key target accounts.

Reduce Headcount

By outsourcing your sales development and partner programs to Operatix; we reduce headcount and the challenges that come with managing people, technologies, and processes. We take care of your sales development, so you can focus on what matters the most: growing your business.

Revenue Acceleration

Operatix helps your business get to revenue quicker. By providing qualified sales engagements for your direct sales team (to kick-off new sales cycles), or by accelerating the growth of your channel partners, our focus remains on delivering tangible results for your business. 

Persona-based Selling

Operatix team will design specifically tailored messages to influence the different levels of decision makers in the sales process, tailoring the communication according to each job function. Our focus is to sell the value of your solution from a business perspective, not its features.    

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