Marketing Just Became Invaluable: A New Revenue Marketing Model for a New World

COVID-19 opened a new era for marketers. We always know the power of digital and we learn the strategy, tactics, and technology to exploit it. Now, other divisions need to embrace the digital transformation that companies have been talking about for so long, and these colleagues are turning to us at Marketing for guidance.

While it is a brave new world for everyone else, it is yet another day for marketers in the proverbial office.

The digital evolution is currently resonating in all organizations. The pandemic has changed internal structures and customer relationships, making marketers more valuable than ever.

Change in organizations: marketers are becoming indispensable in a digital world

Marketing is often referred to as the section that creates PowerPoint and improves websites. This, of course, never came close to the truth, but the company’s previous structures – where marketing has always been the second violin about sales – perpetuated this falsehood.

The pandemic changed an organization’s marketing team: it gave us the agency. This changed the customer’s journey. It redefines the way sales and marketing teams must work together. And it forced companies to see the value that marketers offer in a digital world.

B2B companies say digital interactions are now two to three times more important than traditional sales interactions, McKinsey & Company said. This impressive statistic puts marketers at the forefront of monetization as we master the digital game.

Consider the new sales trend “asynchronous sales”, where touchpoints and digital interactions occur at different times, usually when it works best for the prospect. It is very similar to B2B marketing. That’s why more and more sales teams are relying on their marketing departments to navigate this new reality, giving marketers more control over the sales funnel.

Today, in recent years, marketers have gradually taken control of the funnel; the pandemic accelerated this trend, as many more companies had to move to the Internet more quickly.

In short, now that buyers are more digitally connected, marketers are more connected to revenue.

Companies also recognize this change: 56% of companies have increased or maintained their marketing budgets since the beginning of the COVID epidemic.

Revaluation of the main qualification

Lead qualification can no longer be measured solely based on content consumption. Visiting a website or downloading content says little about the prospect’s intention. They may not have the intention to visit the site or they may have been removed from your white paper. In the digital world, it means understanding who is willing to buy, who has already raised their hand to be contacted.

While marketers have intelligently shifted their priorities to take on a bigger role, we are lagging in changing the way we measure our performance. MQLs are no longer the end of everything, that’s all. New patterns have emerged that reflect the entire sales funnel, as well as other areas.

Marketers now need to look at customer retention and value throughout their lives, engage current customers for potential sales growth and ensure that customers take full advantage of all the benefits of their products or services. At the top of the funnel, they should measure the engagement of digital marketing campaigns and see how certain actions, such as downloading an asset, relate to the prospect’s purchase intent.

Think beyond the indications: what actions in the customer experience are really linked to financial results? These are the things you should invest in and compare.

In a more digital world, we don’t just pass sales leads on, so we need benchmarks that reflect our new role.

Make predictable possible

The term “predictive” has been widely used in recent years. For most companies, this is an ambitious buzzword and certainly not yet a reality for sales and marketing. But things are changing. One of the benefits of a fully digital world is that we can measure engagement, understand intentions and predict actions.

Consider which triggers and interactions are qualified leadership in the context of the digital age and for your organization. For example, for ON24 and those involved in our marketing, this usually means that potential customers are not really potential customers until they have done something meaningful, such as asking us a question, answering a webinar, or spending more than 50 minutes. . WE.

But when each interaction produces a data point, prediction becomes possible. In a digital environment, sales and marketing can follow the entire buying journey without depending on the touch of real interactions, when people say one thing and want to say another.

Predictive is powerful: it helps marketers understand what actions indicate specific behavior and how each will affect their financial results. This, in turn, can dramatically change the way you invest as a marketing organization – the way you predict and determine which markets to enter.