Lead-generation metrics are a favorite topic for any roundtable discussion.
People simply get excited over the number of Facebook likes, webinar attendees, and white paper downloads because these metrics are easy to track. But there is a problem here because these metrics lack any impact on tracking revenue directly related to your growth marketing strategy.
Having insight into how many new Twitter followers you got last month or how many new visitors came to your website isn’t going to cut it. Your ability to account for revenue gains attributed to actions taken in your growth marketing strategy must be the main focus.
Here’s what happens 9 out of 10 times: someone asks a business how their sales figures improved from their digital marketing investment. The organization responds by saying, “we got 976 leads last month, so some sales came from it”. This is inexcusable.
Now imagine this conversation taking a delightful turn on its head; the business is able to answer the question highlighting their revenue gain down to the penny while saying they made a return on their marketing investment by more than 120%.
Having full clarity and complete comprehension as to which campaigns performed well, which ones tanked, and analyzing that data to make some adjustments to your growth marketing strategy will usher measurable revenue gains, and your organization’s year-over-year growth.
When you form a partnership with the best digital marketing agencies with custom business growth stacks you are automatically privy to a marketing process that proves to be successful in helping you hit your revenue goals through a measurable environment made possible by the right customized tools and strategies.
These are aligned perfectly to help your company hit its unique goals, and the Growth Stack thrives in a highly agile environment.
This article is intended for CFOs, CMOs, marketing directors, and executive decision-makers who play crucial roles in their organization to produce proven, action-based revenue gains from their marketing investment.
Embrace the New Buyer
In order to achieve measurable revenue growth through marketing services, you need to have a deep understanding of how today’s new buyers comprehend services and products. This means having insight into how they make purchasing decisions.
Gone are the days when consumers relied on sales teams to educate them; the “new buyer” is savvy, does research, reads white papers, joins webinars, reads review sites, and joins discussion forums.
Today’s buyers discover their own pain points and make related purchasing decisions based upon the content they read, without the aid of a sales team. Instead, they conduct their own research independent of any outside influence.
In order to streamline your growth marketing strategy and trace revenue gains, businesses need to stay mindfully present of the “new buyer” with the intention to track their activity and influence their actions.
Purchasing Process as a Buying Cycle
From the first interaction your buyer has with your content, think of this as the beginning to the revenue cycle. Once your lead has identified their problem, recognizes your product as their ultimate solution, and makes a purchase will the buyer cycle come to full close.
The real question organizations are asking is how understanding the buying cycle enables measurable revenue growth.
Years ago sales and marketing departments would struggle to communicate efficiently to close the sales cycle. Today growth marketing agencies can utilize a CRM that amalgamates marketing and sales making each equally accountable for generating revenue.
When marketers utilize a single platform for segmenting marketing channels through a revenue-generated strategy, the ability to pinpoint the parts of your marketing and sales activity that works well (and areas that fail) is enabled. As a result, earned revenue can be traced back to the originating action.
Revenue Growth and Team Alignment
One of the biggest mistakes companies make is when marketing is taken, thrown into the sales process, it is adorned with shiny new metrics, and they call it a day. Marketing and sales must be streamlined to run together in full collaboration.
Be sure your sales and marketing team members all use the same terminology. All too often, lost revenue occurs when a term is misused or wrongly interpreted, thus resulting in a carried-out action that has a bitter consequence.
Streamline Your Tools
The arena of digital marketing has multiple demands. Just poke your nose into a handful of organizations, and most will likely have an obscene number of tools and plugins. From Google Analytics to MailChimp, and from SpyFu to SEMrush, companies feel obligated to build their arsenal due to the fragmented and expansive climate they are trying to grow in.
First, recognize what your tools do. Most people utilize less than half their tool set capabilities. Then define the sales and marketing related tasks you will execute, and look for solutions to carry out the strategy via multiple initiatives from a single platform source, as opposed to one tool for each task.
In order to grasp the big-picture metrics that matter, a streamlined method will need to exist allowing for easy revenue tracking by granting data-collection.
Getting a clean read on data that matters is important, so utilizing a CRM with marketing automation that performs the right tasks while collecting the data that matters traced to conversions will enable measurable and scalable growth.
Just make sure you have a skilled marketing team capable of analyzing the data and running the necessary campaigns based on the findings while relating everything to revenue acquisition.
Let’s loop back to the topic of marketing automation: even if your CRM has the most robust marketing automation parameters, like HubSpot’s, this doesn’t mean you can “set it, and forget it”.
Your growth marketing agency will need to work either independently or with your team to perform the right message-based audience targeting tactics, study the metrics to increase reach, segment leads, pair the right campaigns and the cadence, and map the buyer’s journey to the point of conversion.
Marketing automation enhances the ability to reach more people, get more leads, and communicate with customers in a time-efficient manner while keeping everything within a single hub where any action can be traced to revenue generation.
Get a Growth Marketing Stack
Finally, achieving measurable revenue from your marketing investment that can be reported to your CEO relies on the people, strategies and tools working to help you meet your sales goals. However, not all businesses are good fits.
Your sales cycle needs to make sense, and there are other considerations. Your best option is to contact a growth marketing agency and set an appointment to dive into your business and see if the fit is there.