CMOs often struggle to link investment to revenue generation. Here are three steps to achieving higher sales potential with marketing:
The marketing engine is a critical part of a B2B company’s branding and pipeline. CMOs invest heavily in improving customer experience and moving prospects down the funnel, yet their spending is often scrutinized by other departments who question marketing’s contribution to the company’s bottom line. As a result, CMOs often have to defend their share of investments and funding. The problem is clear: the marketing machine tends to focus on small elements that may contribute to the bottom line, while other executives may not realize the relevance. However, by setting the right priorities, CMOs can avoid focus conflicts and demonstrate how marketing contributes to the company’s bottom line. Here are three steps to drive sales growth in a B2B environment:
1. Increase sales with the sales growth model
While some marketers argue that focusing on smaller elements will lead to higher revenue, CMOs can easily go overboard by focusing on elements that don’t offer high ROI opportunities. The key to avoiding this potential pitfall is to align marketing goals with the company’s revenue growth model.
This is crucial to the CMO’s future planning before focusing on smaller elements – revenue must be at the forefront. By understanding which revenue sources and audiences the company is focusing on, the CMO ensures that campaign goals and timelines are aligned with the roles of other departments. This also gives the CMO the opportunity to present timely ROI measurements, proving that every penny counts in the pursuit of revenue growth.
2. Enhance Marketing in Alignment with Sales
Once consistent goals are established, CMOs can focus on increasing marketing effectiveness. Increasing headcount and optimizing advertising spend can help executives achieve better results, but these will only translate into revenue opportunities if sales are aligned with marketing efforts. Therefore, CMOs should consider reaching out to key sales leaders to strategize before finalizing timelines and tactics.
When sales stay on top of all marketing efforts, marketing becomes more than just a tool to draw prospects into the pipeline, it also becomes a force multiplier for sales to close deals. By leveraging marketing campaigns to simplify the customer journey, CMOs can drive more upsell/cross-sell movements along the pipeline, building stronger revenue streams and demonstrating that marketing is more than just a newsletter. 3. Build the customer experience and manage the product portfolio
With a clear lead generation process in place, CMOs should prioritize improving the top-of-funnel experience. Top marketers know that sales calls and brochures aren’t enough. They need targeted content aligned with prospects’ problems. CMOs can start by cataloging the company’s products and services into clear, distinct categories, which helps create the primary target personas the company serves.
Splitting products into groups benefits both marketers and potential customers. Campaigns can simplify the decision-making process with targeted messaging. Curated content also helps humanize the business, empowering CMOs to create campaigns that resonate with potential customers, potentially improving marketing results and contribution to the bottom line.
Do you have clear priorities for where your marketing should focus to drive sales? Follow our blog to learn more about what top CMOs are doing to help you progress in the B2B environment.
