A Basic Revenue Marketing Strategy That Any B2B Company Can Use

by Nagaraj Rudragouda Freelance SEO Expert

Marketing and sales departments in B2B companies are getting closer every year. That’s because every leading B2B company is adopting a “revenue marketing strategy.” In this new marketing strategy, generating revenue is the end goal of all marketing efforts. Marketing efforts that don’t empower a firm’s sales or revenue-generating capabilities don’t matter anymore to these B2B companies. Here’s why.

Why B2B Companies are Adopting Revenue Marketing Strategies

In every B2B organization, measuring the sales department’s success means measuring the company’s revenue and business growth. Why shouldn’t the company’s marketing department be asked to live up to such high standards? Adopting a revenue marketing strategy means that every marketing effort your B2B company makes contributes to its financial goals.

Marketing that Compels Users to Buy

According to McKinsey, the average B2B buyer uses 10 or more online sources to make decisions before buying products. Adopting a revenue marketing strategy will help B2B companies create online resources that really matter. In a revenue-centric marketing model, customers are given content or information that increases their desire to buy products.

Marketing that Focuses on Users

From 2023, Google won’t allow B2B sellers to track the data of their website visitors with third-party cookies. That means short-term metrics like web traffic or lead volumes won’t matter as much in the future. By adopting a revenue marketing strategy, firms can switch their focus to understanding their customer needs better.

Marketing that Delivers True Value

In 2021, 82% of B2B marketers were evaluated on their ability to generate leads. The more leads a B2B marketer generates, the better his/her performance scores. Of course, not all the leads these B2B marketers generated were “high-quality.” Still, their employers appreciated their ability to generate large numbers of leads.

This lead-centric approach to B2B marketing only leads to a misallocation of resources and efforts. By adopting a “revenue marketing strategy,” B2B company leaders can reward marketers who generate high-quality leads. High-quality leads result in revenue for the company. There’s a lot more value in these leads.

Creating a Revenue Marketing Strategy

Now that we’ve acknowledged the benefits of revenue marketing let’s see how a B2B company can implement such a strategy. Organizations must take the following steps –

Align the Company’s Sales and Marketing Departments

No more separate departments. Get your B2B company’s marketers and sales professionals in the same room. Help them understand the importance of revenue marketing. Clarify important details such as –

• Marketing materials required by the sales professionals to close deals.

• The definition of “sales-ready” leads.

• Customer personas to target for both marketers and sales professionals.

• Once you’ve aligned your B2B company’s sales and marketing departments, get the right professionals in the right places.

Create a Dedicated Revenue Marketing Team

To reach your firm’s revenue goals, you’ll need a dedicated team to implement a revenue marketing strategy. Such a team should consist of:

• The B2B company’s Chief Revenue Officer (CRO)

• Chief Marketing Officer (CMO)

• Chief Sales Officer (CSO)

• Data Analysts who can help marketers analyze data

Invest in Marketing Technology

In 2021, online B2B sales increased by approximately $1030 billion. More B2B shoppers are buying online. B2B companies must invest in the latest digital marketing tools to reach out to these online shoppers. Some must-have B2B marketing tools include -

• Customer Relationship Management software (e.g., Salesforce, AutopilotHQ, etc.)

• Marketing Automation tools

• Business Intelligence tools (e.g., Google Data Studio)

Strategy, people, and technology – synchronize these three elements to create a basic revenue marketing strategy for your B2B company.

MD: A well-designed revenue marketing strategy can transform a B2B company’s fortunes. Here’s how B2B companies can start revenue marketing.