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WHAT IS PIPELINE MARKETING? the story of how Bizible marketing became accountable to revenue generation
Pipeline Marketing is our strategy for revenue growth It’s why our marketing team now works toward one goal: revenue.
As marketers, we didn’t always optimize for the most-important metric.
The metrics we were reporting didn’t allow us to persuasively prove the value of our marketing spend...
Fellow marketers experienced our conundrum, but didn’t know how to fix it... ...We didn’t either.
Burning questions we were asking ourselves… do hannels What c omers st our cu ough? hr come t How can we better target audiences? Whic hm tactic arketing s most had the impac t?
We really needed to know which marketing strategies were generating revenue for the company.
So we went looking for a solution...
We tried two things: 2 Collect and use data from the entire funnel when making decisions.
Using metrics like... Revenue by channel Revenue by lead source Opportunities by keyword Opportunities by channel … helped us prove our impact on the bottom line.
Using these metrics convinced us of three things... 1. Lead generation should not be our only focus. 2. Marketing doesn’t make sense without a clear connection to revenue and sales. 3. Using and optimizing for top-of-funnel metrics only gives us half the picture.
We were shocked by what we learned.
Marketers often optimize for the wrong KPI’s. Getting to know this story… leads pageviews social shares email open rates Lead Conversion Marketing Qualified Sales Qualified
Lead Conversion ...when they should know this story. opportunities customers revenue Marketing Qualified Sales Qualified Sales Opp Customer
We realized just how strange marketing sounds without a clear connection to sales and revenue.
Imagine explaining marketing to aliens... a Hello, I am and marketer I help grow . companies Ooooooo…. How do you prove the va lue you create?
Imagine explaining marketing to aliens... views, With page tes, & bounce ra ion visit durat metrics! …………….
Imagine explaining marketing to aliens... I’d rather talk to the sales tea They act m. uall make mo y ney.
Top-of-the-funnel metrics are still useful, but there’s so much more that can be done today... - more more more more more touchpoints customer decisions content channels testing Understanding the customer journey is tough… ...but it’s more important than ever.
When marketers can't see a buyer's journey from beginning to end, they're unable to optimize their marketing dollars to generate more customers. Which might be why….
Only 1 in 5 marketers earn top marks from the C-Suite for their ability to prove their value and contribution, compared to prior years. 1 in 4 marketers in - Marketing Performance Management, 2015
Only 1% of leads turn into revenue for the average company. And top performers don’t even get to 2%. - Forrester
Only 25% of leads are legitimate and should advance to sales. - Gleanster Research
61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. - MarketingSherpa
61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. Ah, that sucks! - MarketingSherpa
Pipeline marketing focuses on a comprehensive view of the sales funnel, making decisions based on on the final stage -- revenue. It’s about optimizing all aspects of marketing to widen the funnel at every stage to maximize growth. Lead Conversion Marketing Qualified Sales Qualified Sales Opp Customer
Pipeline Marketing took three steps: 1. Connect sales and marketing data 2. Measure marketing’s performance based on customers and revenue. 3. Expand every stage of the funnel using bottom-of-the-funnel data.
And answered some important questions... How much better are we at acquiring new leads customers?
And answered some important questions... When can we expect leads revenue from our marketing campaigns?
And answered some important questions... Can we show our impact and contribution to the bottom line?
Pipeline marketing helped us make important distinctions. Lead Generation Pipeline Marketing Contacts creation Revenue creation Top-of-the-funnel focus Full - funnel focus Slows sales Accelerates sales Less efficient budget More efficient budget Excludes conversion marketing such as retargeting and nurturing Includes conversion marketing such as retargeting and nurturing
Most importantly, we showed how much generated. value we We started using the same metrics our sales team was using to measure our performance. This inspired our organization to make a complete shift to a Pipeline Marketing strategy.
Other organizations have found success, too. 75% said sales and marketing were more aligned 87% increased marketing ROI 5x higher lead to opportunity conversion
And that’s Pipeline Marketing.
Who else is doing Pipeline Marketing?
Join us in the Pipeline Marketing Revolution LEARN MORE AT BIZIBLE.COM