What Marketing Departments Can Do To Reduce Their Revenue Impact

Changes in consumer behavior, privacy regulations, and the economy have all contributed to a rapid evolution in B2B marketing in recent years. Now more than ever before, people can choose to work from home if they so choose. A more expensive and uncertain economy has made it harder for marketing departments, which must now get the most bang for their buck from every advertising dollar spent.

Connecting disparate marketing platforms is challenging, and reaching key decision-makers is becoming increasingly challenging. Contacts have moved on to new positions, and fewer people are responding to emails and phone calls. With so much competing content across so many digital channels, it can be challenging to deliver the right message at the right moment.

In conclusion, marketers are still dealing with the challenges posed by outside forces. In spite of Google’s claim that third-party cookies would continue to exist until 2024, we are rapidly approaching a cookie-free era. Because the usefulness of third-party data expires quickly, revenue executives must keep the pressure on and get ready for a world without cookies while the cushion is still in place.

Profit Generation Through Revitalized Advertising

In my opinion, the disparity in income impact exists because many advertising strategies were created in an earlier era. Furthermore, the current method is insufficient. The gap can be hard to close when only using the lead-based funnel. Although promising, intent data is not a silver bullet. Think about creating a seamless, interesting, and individualized experience for your customers from start to finish.

I think many brands have trouble getting the attention of today’s elusive consumer. Forrester found that almost two-thirds of B2B purchasing committees now have more than four members. In addition, Gartner forecasts that by 2025, digital channels will account for 80% of all B2B interactions between purchasers and vendors.

Marketers may implement a unified strategy that integrates conventional demand generation with account-based marketing in order to close the revenue gap and focus on the consumers most likely to convert. Do not neglect the lead-based funnel; having and using it in tandem with the account-based funnel is highly effective due to the two funnels mutually reinforcing and enhancing one another. Numbers of leads, conversion rates, forms filled out, and quality ratings of leads are insufficient. Magic, though, may happen when ABM is combined with a strategy that actively involves customers at every stage of the buying process.

Reformulating Approaches to Bridge the Gap

For a long time, the lead-focused marketing funnel has been the backbone of many organizations’ inbound customer interaction strategies. However, you should now focus on a revenue flywheel. The customer lifecycle is an integral part of the revenue flywheel. Getting more customers isn’t the main goal. As a result, you can increase the number of target accounts participating in your marketing efforts and generate more top-of-funnel leads.

Provide the white-glove treatment to any account that becomes an opportunity, regardless of where you found them (account-based marketing or a lead funnel). If a marketer wants to raise product awareness and keep opportunities moving down the sales funnel, they might use display advertising and landing pages to disseminate educational content about their products.

Once ABM is in charge of account-based marketing, marketers may use in-depth information about buyers or buying committees to create stage- or persona-based campaigns and activate curated content through chatbots, emails, or other channels to win over these accounts and close sales.

If you follow this plan, marketing can become a driving force for expansion by focusing on:

• Brand awareness can be boosted by targeting new, highly engaged or potentially loyal customers;
• Establishing a funnel and nurturing or retargeting accounts through various methods;
• Increasing the speed of pipelines by focusing on deal-stage nurturing, broadening the scope of outreach to buying committees, and running account-specific marketing;
• Keeping a larger customer base thanks to aggressive market positioning and product enhancements;
• Profit margins can be widened by seizing upsell and cross-sell openings.

Teams should tailor the whole B2B purchasing process, from the first point of contact to any potential upsells. This could help them boost income by attracting and keeping more customers, identifying and responding to customer intent, and closing more deals.

To close the revenue gap, maintain contact with your target accounts over the course of their customer lifecycle. Lead-focused strategies and tried-and-true marketing playbooks used to work. Marketers can now interact with customers at their convenience, regardless of time or day, and generate tangible results that contribute to a sustainable competitive edge.