B2B marketers are tasked with generating sales pipelines and customer revenue. To do this effectively, it is essential that companies recognise the need for team-wide involvement in the process. Beyond marketing, sales and customer success, product, finance, operations and executive teams can all play a valuable role. This article explores how to make revenue generation a company-wide effort, starting with building trusted relationships between marketing and other functional leaders. It also looks at how different teams, such as product, operations and finance, can contribute to customer identification, engagement, adoption and expansion.
The B2B buying and selling process has changed significantly in recent years, with buyers favouring self-serve options and larger buying committees, as well as longer and more complex purchase cycles. This makes it difficult for B2B sellers to access buyers and hit their targets. In response, companies often resort to artificial solutions such as buying leads or media in the hope of driving immediate conversions. However, this is not the most effective approach.
The key is to understand the reality of B2B-considered purchases and the pressure buyers are under. To succeed, companies must treat revenue generation as a team sport and involve multiple functions in the process. CMOs should take the lead, working with functional leaders to create roles and accountability for each customer segment. Executives can be sponsors and advocates for high-growth prospects, while product teams can align with target accounts to co-develop solutions and instil confidence. Operations and data teams can provide account intelligence and product/market data, while finance groups can structure contracts and deliver ROI metrics.
For marketing leaders, it is important to define collective and individual roles in contributing to revenue and customer growth. Product marketing should be measured on revenue generated from product experiences, while corporate marketing should focus on account revenue targets.
By involving all company functions in the revenue generation process, companies can achieve more success and better results.
Originally reported by Martech: https://martech.org/how-to-make-revenue-generation-a-company-wide-effort/
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