Revenue Marketing is one of the latest buzzwords in the world of business, but should you care? Well, if you are interested in having your marketing and sales departments direct their campaigns to revenue and engage leads even after the sales reps have taken over, then you should care.
What Is Revenue Marketing?
Revenue marketing is a marketing approach that focuses on identifying, targeting, and nurturing leads to convert them into customers and maximize CLV. It uses data-driven tactics to deliver measurable results. Revenue marketers focus on bringing a company’s marketing and sales teams together to work toward the common goal of promoting revenue growth.
When done by an outstanding RevOps agency like RevPartners, revenue marketing can be the input that revolutionizes your revenue performance and contributes to the overall success of your business.
Why Is Revenue Marketing Important?
Because it offers the following benefits:
1. It Generates Sales-Qualified Leads
Data power leads acquired through revenue marketing and are superior in quality to, say, those from a cold-calling campaign. The main reason behind this is that revenue marketing gives prospects the information they need to make decisions on their own.
Nothing is forced on them, so once they decide to come on board, it’s likely they will journey to the end and reach the purchase stage.
2. It Increases Customer Focus
Revenue marketing is beneficial not only for generating leads but also for trying to convert them into customers. It also helps businesses retain these customers for the longest time possible. “How?” you may wonder. By flipping the script from focusing on designing products and services and hoping to do it in a way that raises their demand to paying attention to what your customers really want, you can increase your revenue.
You start to look at non-product factors like speed of response to customer issues and others that will make them buy more or less. You can also look at other factors, such as the responsiveness of your website, that will affect the likelihood of conversion. Focusing on customers cultivates long-term relationships and drives sustained sales.
3. It Aligns the Marketing and Sales Teams
Most businesses have their sales and marketing teams at odds, with marketers looking to raise brand profiles at large while the sales team is more interested in individual conversions. Despite working for the same business, the effort from these two teams may conflict, frustrating both outcomes.
Revenue marketing combines these teams and helps them focus on the customer. By aligning their goals, it will only be a matter of time before they are working towards the same outcome, albeit differently.
4. It Improves Goal Setting
In business, it’s crucial to focus on setting goals correctly and ensuring that they are achievable. Revenue marketing prioritizes revenue-focused goals as opposed to prospects, leads, or potential demand. By associating success metrics with the generation of revenue from specific sources, it will be easier to create goals that are in line with the reality of current sales volumes. That’s because it’s somewhat inaccurate to set goals while depending on predictions of potential customer action.
Adopt Revenue Marketing With RevPartners
Traditional marketing is no longer hacking it like it used to be since the marketing status quo has changed drastically over the past few years. With more marketing and sales teams collaborating and tracking the customers to the end of the buyer’s journey, and some even beyond, traditional methods don’t stand a chance.
You, too, can join the businesses that enjoy the multiple benefits of revenue marketing. Engage the team at RevPartners for a customized revenue marketing plan to help you streamline your revenue-generation strategy while working closely with your customers.
