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Posted by Lori Wizdo on October 21, 2012
Demonstrating the revenue return on marketing investment is the No. 1 issue for B2B marketing executives. In Forrester’s Q4 2011 B2B Marketing Organizations And Investments Survey, when we asked marketing execs to identify the most important metrics for their marketing organization, 56% identified a revenue-related metric — compared with 44% for customer satisfaction and 40% for brand awareness. So, it’s no wonder that marketing automation solution vendors vociferously tout the ability of their solutions to track the revenue performance of marketing campaigns and programs.
But, looking at marketing automation solutions solely through the value lens of revenue performance management masks a more fundamental benefit. Marketing automation can transform a company’s marketing operations. These solutions deliver scalability, root out excess cost, improve marketing execution, and provide the basis for continuous incremental process improvement.
Still many marketing execs hold back on investing in marketing automation. They fear the concurrent assimilation of new tactics, processes, and automation will unduly stress their marketing organization. But the transformation is necessary, and the stress unavoidable. Marketing execs need to proactively address the “people part” of their lead-to-revenue transformation.
I addressed these challenges in this recent webinar, which is available on-demand.
In summary, here is what I suggest to clients in inquires about how to lead the overall transition to L2RM:
One of the lasting legacies of the “Great Recession” will be the mandate to prove that marketing activities and spend have a measurable impact on profitable revenue growth. That’s a good thing. Calibrating sales and marketing around a shared revenue goal is the basis for true alignment between sales and marketing, helping strengthen a weak critical link in most B2B companies.
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