SaaStrU 201: Revenue Marketing: Build for Scale with Podium's SVP, Revenue Marketing
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Jess Weimer / Senior Vice President, Revenue Marketing / Podium Demand Generation is the staple function for any organization looking to increase “Demand”. Over the last decade, the function of Demand Generation gears to being a silo - where the function has its own KPIs, and often times vanity metrics, that cloud the picture. In this session, we will talk through the evolution of Demand Generation to Revenue Marketing, and how Revenue Marketing is critical to building for scale.
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SaaStrU 201: Revenue Marketing: Build for Scale with Podium's SVP, Revenue Marketing
- 1. Revenue Marketing: Build for Scale Jess Weimer SVP, Revenue Marketing Podium
- 2. Demand Generation is an Antiquated Discipline And puts a book-end on Marketing’s Impact
- 3. How is Demand Generation Measured? ● Impressions ● Website Visits ● Clicks ● Insert More Vanity Metrics Here Ultimate Success is defined as # of MQLs generated
- 4. Evolution to Revenue Marketing 1. Organization and Measurement 2. Creating Pipeline Velocity through an integrated prospect journey 3. Affecting change in the sales ecosystem
- 5. Evolve to a Revenue Marketing Mindset Organize & Measure Accordingly
- 6. Great Revenue Marketing Requires Content Operations & Analytics Talent Budget Digital to Field Strategy Targeting Strategy
- 7. PRODUCT MARKETING CORPORATE COMMUNICATIONS • MQL to SQL • Net New Pipe • First Touch Pipe • Awareness • Net New Pipe • Net New Pipe • Deal Acceleration Operations & Analytics Campaigns Performance Mktg Global Events Field & Partner Marketing Building a Revenue Marketing Organization Align your Organization against the strategic pillars, supported by Corporate REVENUE MARKETING BRAND Lifecycle Marketing
- 8. Marketing Operations Tech Stack | Process | Analytics & Insights | Campaign Support Scale campaign execution process, marketing tools, forecasting, attribution & reporting, driving improvements to campaign quality metrics and infrastructure Campaign Strategy Performance Marketing Partner & Influencer Marketing Field Marketing Events Campaign Targeting | BOM PM | KPI and Measurement SEO | Paid Search | Paid Social | Self Serve Partner Demand & Enablement | Key Opinion Leaders Vertical Tactics | Field Acquisition, Acceleration and Expansion Events 3rd Party Tradeshows | Industry and Analyst Events Design strategy, goals, content BOM and measurement dashboards for end to end campaigns to acquire net new account engagement from inbound through outbound campaigns providing prescriptive journeys to accelerate oppty creation Drive Volume and Velocity through owned and paid always-on programs for net new lead acquisition for self-serve, SMB and Enterprise accounts horizontally. Drive the self serve engine. Drive Volume, Velocity and conversion through Partners and Key Opinion Leaders, horizontally and by vertical. Scale the alliance and solution Partner Marketing portfolio to amplify net new acquisition Leverage Global horizontal Campaigns for vertical specific execution tactics to drive programmatic net new & expansion pipeline and deal velocity Drive the strategy and pan to bring consistent awareness, create and accelerate pipeline through in-person engagement aligned with key themes, messages and targeting Lifecycle Marketing TOFU through BOFU Nurture | Web Page Experimentation | Expansion Plays Establish stage-specific lifecycle programs to nurture and accelerate new prospects and expand consumption from existing customers Revenue Marketing | Strategic Pillars
- 9. The Rise of Revenue Marketing Measurement ● Removes vanity metrics ● Track the bottom-line impact of every dollar invested ● Focus on pipeline and ultimately revenue ● Impressions ● Clicks ● MQLs ● Volume ● Velocity ● Conversion FROM TO
- 10. Measurements for Revenue Marketing Pipeline VELOCITY The time the pipeline element spends at a stage before converting to the next stage or closing out This is the percentage of the pipeline elements that move to the next stage over the total closed CONVERSION The pipeline funnel elements: Unique Responses, MQL, SQL, Closed Won VOLUME
- 11. Creating Pipeline Velocity Requires cross-functional collaboration
- 12. Step Out of Your Swim Lane – Do the Forensics Know why you win ● Go Deep into Lost Oppty and Closed Won Data ● Understand the Voice of your Customers HOW Fix why you lose
- 13. Initiate a Voice of the Customer Deep Dive HOW? 13 Combination of: • Win/loss interviews • Buyer interviews • Customer interviews • Market listening • Market trends • Competitive landscape Determine how to increase conversion rates, decrease long gestation cycles and manage active vs. latent demand OUTCOMES Rapid discovery process to gain an understanding of the current state WHY?
- 14. Be the Change Agent And, Be Unapologetic about it….
- 15. Revenue Marketing Should Affect the Entire Ecosystem Top of Funnel Programs Targeting Personas based on entry point to deals Analytics / Insights Revisit, Revamp to know the true sources of created pipe Full Funnel Marketing Drive programs to accelerate prospects throughout the funnel SDR Qualification Coordinate a hand-back to marketing for tire kickers Sales Pipeline & Forecasting Middle/Bottom of Funnel Content & Programs
- 16. Key Takeaways | Revenue Marketing Operating Rhythm 1. Organize your team against strategic pillars 2. Broaden your measurement to align with Sales: Velocity & Conversion 3. Step out of your swim lane, Go deep into the catcher’s mitt with Sales - includes customer listening 4. Affect change outside your day to day programs, and be unapologetic about it……
- 17. THANK YOU
Hinweis der Redaktion
- Demand Generation is the staple function for any organization looking to increase “Demand”. Over the last decade, the function of Demand Generation gears to being a silo - where the function has its own KPIs, and often time vanity metrics, that cloud the picture. In this session, we will talk through the evolution of Demand Generation to Revenue Marketing, and how Revenue Marketing is critical to building for scale as we look beyond the top of the funnel in isolation.
- My passion for this topic, Revenue Marketing, is based on how marketers purpose and impact has evolved over the last two decades. Equally important the accountability of Marketing to look beyond top of funnel metrics needs to be spotlighted and ingrained into our approaches in order to build for scale
- The original function of Demand Generation was geared around those top of funnel metrics, but these vanity metrics cloud the picture and never tell you a complete story. In fact it often has disconnect with pipeline, velocity, or sales. It also inhibits creating an end to end prospect journey because it influences us to operate our tactics in isolation.
- Today I’m going to talk about 3 primary ways that Revenue Marketing has evolved from Demand Generation – and really what this evolution requires. How we organize and Measure, Our role in creating pipeline velocity through an integrated prospect journey, And how we can and should affect change in the sales ecosystem.
- I recommend to first do a gap assessment on what we needed as a revenue marketing organization. Then work cross-functionally and within your own team to fill those gaps.
- I lead and influence my team to all become revenue marketers – regardless of their core function Align them to the strategic pillars of revenue marketing Just a few examples Events are no longer just about booth scans - now, how are we enabling our SDR team to create meetings from these booth scans? Digital is no longer centered around impressions and clicks or even conversion to lead - But which leads/personas convert to pipeline? Where is our entry point to an SMB vs Mid Market vs. Enterprise Deal? Shift our tactics accordingly, align them to global campaigns themes and ensure that message is carried on through Field Marketing and Partner Marketing. Build on the top of funnel messaging to further accelerate engagement in the field. Leverage Partners to co-carry that message to their prospect baes Eliminate the random acts of email marketing – Instead, How is it strategically designed to mature our prospects to establish those who are ready to talk to sales, are we thinking about the entire lifecycle of the prospect and customer?
- Marketing Ops is critical to scaling a revenue marketing engine: campaign execution process, marketing tools, forecasting, attribution & reporting, driving improvements to campaign quality metrics Centralize the vision with a campaign strategy - this includes setting goals, content bill of materials and key measurement of engagement and funnel metrics Acquire net new contacts from inbound: always on digital campaigns Leverage Global Campaigns & key partners for in-region execution and drive net new volume and in field pipe acceleration Generate awareness and accelerate pipeline and revenue with in-person engagement All of this should be supported by lifecycle marketing programs throughout the funnel. Assessing and experimenting with key tactics to optimize the prospect journey The ideal state, is to leverage the voice of the customer throughout all tactics. Whether it’s customer ROI stories in your content, or customer speakers in your webinars and field events. There is no greater impact from that voice of your happy customers.
- Whether you have an ABM Approach or wide net fishing -The real success from Revenue Marketing Measurement is when you can Measure and Action on tactics that influence or directly generate net new pipeline And the measurement goes beyond just the volume you bring at the time – in fact it’s about volume, velocity and conversion
- While many of us already know that it’s not just about volume, it’s also about Velocity and conversion - Not all Marketing organizations play an active role in the latter two. And that’s the key differentiator of what all revenue marketing orgs need to get to. Velocity is not just a sales execution issue, Revenue Marketing, through campaign enablement and lifecycle programs should be influencing and optimizing velocity even beyond Opportunity conversion Similarly, each conversion point does not move that prospect further away from Marketing, in fact Marketing should be leaning in to learn exactly what’s happening at each conversion stage
- Creating Pipeline Velocity isn’t owned specifically by Sales Revenue Marketing absolutely has to be invested and involved in determining how to create that velocity
- As a revenue marketer, we should all be focused on the prospect journey. That doesn’t just stop after the MQL. We need to look beyond what moves to opportunity, and understand what happens with those opportunities to influence the future prospect journeys we create and put into market In Collaboration with Sales Strategy / Operations: Have a cadence looking at Lost Opportunities to start What’s the primary reason? What Stages do we lose most? IF early stages, are you creating the right hook/stickiness from Marketing to SDRs to Sales Meetings? If later stages, what are the reasons? Competitive, pricing? Identify the majority and go solve for that – for both marketing touch patterns as well as sales touch patterns Another layer to add on is the Voice of your Customer which I’ll share an example of next
- When you look at the lost opportunities The data will show you where your funnel breaks the most. But internal data can’t necessarily give you prescription as to why In a prior life I led a voice of the customer initiative with a 3rd party sales consulting team to talk directly to our opportunities in three buckets: current, those lost and those won From there we saw trends and themes that created recommended actions for us to increase conversion rates, decrease our long gestation cycles and better identify active vs. latent demand This absolutely informed and tied back to many tactics and approaches of the revenue marketing team, alongside sales execution recommendations of course
- What I have learned, is that while we can control to improve our top of funnel marketing programs with new content targeting the right personas, we should also lean in to optimize our SDR qualification criteria and processes Revamp the SDR messaging, in partnership with PMM and Revenue Marketing: Create hook & Stickiness. Implement additional criteria earlier in the process to eliminate tire kickers Optimize lifecycle programs for those who aren't ready to talk to an SDR to keep them warm, optimize and test to accelerate resurfacing their interest to establish readiness for an SDR conversion -Sales, Pipeline & Forecast Process – Marketing should create content & programs for MOFU / TOFU - Which is part of that -Campaign Strategy team’s focus. To create a Campaign Plan and bill of materials for the entire funnel not just the top -Full funnel marketing is key: Marketing should play a bigger role in mid funnel and low funnel with customized, targeted messaging working alongside sales Revisiting your analytics as you continue to evolve your revenue marketing operations is also key. Understand lineage vs. attribution to get more actionable analytics on how we are sourcing pipe today, and which had levers we could pull to fuel this.