Developing a Robust Revenue Marketing Engine – Ljubica Radoicic
Ljubica is the marketing director of the APAC region at Hexagon PPM. She is a strategic marketing leader with a focus on increasing revenue generation, creating customer journey, building brand, and great go-to-market strategies.
Here she sheds light on one of the most discussed topics of the late and one of the teething issues businesses are facing. That is having a sales-focused marketing team that can increase the bottom-line of the company. She explains how an organization can develop a robust revenue-focused marketing engine. She also speaks about what COVID19 changed for the marketing and sales department.
The organizations have to understand the value and the experience they are willing to deliver at the various stages of the customer lifecycle. Now due to the pandemic, most of the interactions have turned towards virtual systems. Marketing and sales teams dependent on the legacy systems will need to upskill themselves and move towards technologies like VR and video streaming.
What affects a revenue Engine?
Before jumping into the models, tips and others understand that 10 factors affect any organization in their revenue generation engine. They are:
- Strategic Orientation: It is the firm’s focus in the strategic direction. It focuses on how they are going to implement the strategy and maintain the balance between long and short-term business strategies.
- Customer: How focused is your organization on customer-centricity? Keep your eye on your ICP.
- People and skills: Your employee and their craft aligned to the task.
- Job Design: Align the right people to the right job, so whatever you plan to execute gets executed timely and correctly.
- Budgeting: It contributes to overall revenue goals more focused on ROI.
- Culture: It’s about how your customers and employee feel about your organization and how they feel about the organization.
- Process: It focuses on how easy was it to follow the methods implemented, does it align with company goals, and does it improve efficiency.
- Technology: It shows the tech stack implemented by the company and how it aids in achieving the goals.
- Communication: It refers to the messages both direct and subliminal going across the organization to all the stakeholders.
- Analytics and reporting: It is the different tracking systems implemented to fine-tune the process and perform better.
Revenue Marketing Maturity Framework
Implementing a framework requires an in-depth understanding of the previously mentioned ten factors. These ten factors help you understand your business and make the necessary changes for the frame to work effectively.
The revenue marketing maturity framework has four stages. They are
- Crawl: The organizations in this stage have
- Traditional marketing Practices
- Tactical in nature
- Sales and marketing work in Silos
- Few or No processes
- Email Marketing tool
The reporting metrics are cost and number of activities
- Walk: Organizations in this phase
- A marketing plan does not align with business goals
- CRM is not mandatory
- Marketing automation or email marketing follow single level drip campaign
The measuring metrics are leads sent to Sales
- Run: Businesses at this stage have
- Marketing Plans aligned to business goals with limited alignment to revenue
- Quarterly campaign plans are in place
- Sales and marketing have a revenue relationship
- Multi-level email drip campaigns
The measuring metrics is the percentage and dollar value of leads provided to sales and cost per lead.
- Leap: At this level, the organizations:
- The marketing plan aligns with the business plan
- Quarterly plans align with revenue goals
- CMO is on the leadership committee
- Processes are well-defined
- Programs are repeatable, predictable, and scalable.
The measuring metrics are CLV, retention rate, churn, conversion rate, ROI, and others.
She also shares a case study and key learning from it that can help you grow at a faster pace.