A Revenue Marketing Journey: The Conclusion

Sixteen months ago, we started the revenue marketing journey together. We defined revenue marketing as the combined set of strategies, processes, people, technologies, content and result measurements across marketing and sales.

Sixteen months ago, we started the revenue marketing journey together. We defined revenue marketing as the combined set of strategies, processes, people, technologies, content and result measurements across marketing and sales.

What followed was a series of articles that chronicled the major tasks fundamental to transforming your marketing organization to one that influences revenue in a predictable, scalable way. We covered, in the following order, the organization structure, the processes, content, channels, technology and analytics. Links to all 16 posts are provided below.

  1. First Steps in the Revenue Marketing Journey
  2. An Organizational Structure for Modern Marketing Success
  3. Marketing Operations Grows Up: Why Unicorns Rule
  4. Driving Demand Generation: Who Belongs on That Bus?
  5. The Digital and Content Team: Is Splintering a Verb?
  6. 5 Core Marketing Operations Processes to Master
  7. 7 Outrageous Lead Management Errors and How to Fix Them
  8. Is Data-Driven Decision-Making (3D) at the Heart of Your Marketing Organization?
  9. Add Data Operations to Accelerate Your Revenue Marketing Journey
  10. WARNING Don’t Wing Campaign Development: 6 Steps to a Flawless Rollout
  11. Are You Drowning in Content Chaos?
  12. Brilliant Marketing: Why Thomas Edison Was Light-Years Ahead of His Time
  13. How to Formulate Your 2018 Content Marketing Strategy
  14. Your Prospects Are Multichannel. Are You?
  15. How Marketing Operations Chooses Wisely Between Bright, Shiny Objects
  16. Get Revenue Marketing Analytics Right for 2018

Now that we have covered the fundamentals of revenue marketing, it is time to discuss how we operationalize a response to the big challenges facing marketing today using our revenue marketing capabilities. How do we help marketing become even more accountable, fully execute a digital transformation, and embrace the customer experience as the dominant competitive battlefield?

Next month, we will start with accountability and how to shape those quarterly and annual goals of the marketing organization.

An Organizational Structure for Modern Marketing Success

In last month’s blog post, I discussed first steps in the revenue marketing journey. In this post, we’ll delve into the detail of the first of those steps — organizing for success. What is the optimal marketing organization for influencing revenue? What legacy silos of skills need to be dispersed and what new skill sets must be acquired to improve the customer experience?

Marketing Organizational Structure SignIn last month’s blog post, I discussed first steps in the revenue marketing journey. In this post, we’ll delve into the detail of the first of those steps — organizing for success. What is the optimal marketing organization for influencing revenue? What legacy silos of skills need to be dispersed and what new skill sets must be acquired to improve the customer experience?

Traditional B-to-B Marketing Organization Models Are No Longer a Good Fit

If, like me, you were in marketing in the 90s, we’re “old but not obsolete.” You may recall many B-to-B firms had marketing organizations that looked something like this:Typical Global Marketing Organization in he 90s.That’s right, no marketing operations, and demand gen was part of the marcom director’s bailiwick, which included PR, direct mail, events and “branding.” Fast forward 25 years and we recognize the industry changes that lead to necessary updates in this structure:

  • We now have multiple channels to engage prospects and customers, more than just sales contact, telemarketing, events and direct mail. And since the majority of these new channels are digital, we have “digital marketing groups.”
  • We have an explosion of marketing technologies and customer data today, which benefits from having a team to govern these assets – marketing operations.
  • We have increased pressures toward marketing accountability for revenue leading us to hire analytically oriented individuals and data scientists.
  • Content has become king. To drive engagement with our prospects we need relevant, educational content. This explains why content accounts for 30% of the marketing budget. (Source: “2014 B2B Content Marketing Benchmarks, Budgets and Trends—North America” – Content Marketing Institute and MarketingProfs.)

Let’s set aside the areas that have not changed much, but are still required — product marketing, product management, channel alliances, research/competitors, analyst relations — and focus our attention on the three newer areas: 1) marketing operations 2) content and digital services 3) and digital demand generation. These three teams could be grouped together into a center of excellence, providing demand generation, content and data services to a larger global marketing organization. Collectively they:

  • Create and execute demand generation plans to influence revenue
  • Establish best practices, governance and standards for demand generation and optimization of marketing productivity through the use of people, process and technology
  • Create and deploy content and campaigns to field marketing for localized execution

Marketing Organization: Revenue Marketing Center of ExcellenceDigital and Content Groups

Yes, these are two groups, but often they roll up to one director or VP since there are strong ties between the two. The digital group owns the website infrastructure and the social channels. The content group has the designers, writers, production managers, the content strategists, and is responsible for all the raw content. In many cases they will depend on subject matter experts (SMEs) in other parts of the firm. Given the close working relationship between these two teams wherein one owns many of the channels and the other owns the content, it is logical to put them under one leader.

Demand Generation (DG) Group

Demand generation comprises brand awareness building, thought leadership, lead acquisition, lead nurturing, loyalty marketing and advocacy. The roles required for this team include campaign strategists, campaign program managers, technology power users, analysts, PR strategists, inbound marketing experts (paid traffic and organic traffic) and outbound marketing experts (email).

You may be surprised to find the inbound team here instead of under the digital group described above. This is a recognition of the burgeoning unison of inbound and outbound in creating multi-channel campaigns. The two functions benefit from working in the same demand generation group. We have a choice of channels for lead nurturing these days. We can now use retargeting through social channels, so we need to keep the inbound team tightly linked to the outbound team that has traditionally been used almost exclusively for nurturing.

Marketing Operations (MO) Group

Marketing operations centralizes the management of technology, process, data and marketing analytics. There is widespread belief that this centralization makes marketing more efficient, effective, transparent and accountable. The roles one finds in MO include analysts, competitive intelligence, data management, project management, marketing technology and vendor management, training, and process experts. Occasionally we have also seen firms put the technology power users into this group so they become a centralized service to the demand generation and field marketing groups.

Division of Functions

The division of functions between these three groups is not always clear. A guiding principal for determining where a team should live is whether they offer a function that is infrastructure and support related rather than day-to-day engagement campaign or content creation related. Is the website regarded as mostly infrastructure, or demand generation, or content for instance?

In the next three posts we will dive one level deeper into each of these three functional areas, starting with marketing operations.

For more insights, download TPG’s white paper: Introduction to the Revenue Marketing Center of Excellence.