As I was writing my book – Rise of the Revenue Marketer: An Executive Playbook, I had the opportunity to interview 22 experienced executive Revenue Marketers. I listened to what they said, listened to what they did not say, and observed what they did. All 22 companies were either current or past clients of TPG – after all, I was looking for Revenue Marketers!

While there were many, many incredible insights shared, here are the key lessons shared by this group. As you review then, I will place you into three different categories:

  1. You are an experienced Revenue Marketer and you’ll say – “Yep, this seems spot on!”
  2. You are not an experienced Revenue Marketer and don’t see how all this non-technology stuff can really be that important. For you, you’ll want to re-read this blog after you’ve been doing this for about one year,
  3. You are not an experienced Revenue Marketer but you get it. For you, this blog and the advice from these experienced Revenue Marketers validates your current thinking and sets you up for success.

Key Lessons:

  1. READINESS
    • This refers to the question – Is your company ready for Revenue Marketing ?
    • When marketing is trying to do this in a vacuum without executive and sales buy-in, involvement and advocacy, revenue marketing is like swimming through peanut butter, it’s slow, it’s not successful and you wind up investing in a very expensive email system.
    • To assess your company’s readiness, look for a track record in innovation, using technology as a competitive advantage, a rabid focus on understanding and responding to customers, and finally some type of disruption in the business that will cause the company to listen to a new business plan/approach from marketing.
  2. ACCOUNTABILITY
    • I am talking about business accountability and revenue accountability.
    • You need to begin by establishing the financial value of revenue marketing in a business case. Don’t go in asking for a lot of money, saying this is a good idea. You need a without a strong financial model as this is the language of executives.
    • All revenue marketers have financial accountability and a revenue number that is in alignment with the company plans.
  3. LEADERS OF CHANGE
    • Changing marketing from a cost center to a revenue center requires substantial change in roles, people, process and technology.
    • Just building alignment with sales takes an almost full time change effort.
    • This is the primary role of the CMO – to set the vision for the new role of marketing and then to effectively and successfully lead this change.
    • Do not underestimate this effort. ALL experienced revenue marketers talk about how critical change management is in revenue marketing.
  4. QUICK WINS
    • All successful revenue marketers talked about quick wins along the journey.
    • These quick wins provided on-going education for all key constituents and helped to build advocacy for revenue marketing.
    • Publicizing quick wins is also key.
  5. JOURNEY
    • Revenue marketing is a journey that takes multiple years, after all, you are transforming marketing from a cost center to a revenue center and this is hard work.
    • Getting the technology in and working is not the issue. Addressing the softer issues around change management and building advocacy for revenue marketing is where the rubber hits the road.