Marketing is a massive aspect of any business and directly impacts a company’s bottom line. The latest HubSpot Marketing Statistics report states that 75% of marketers regularly report how campaigns directly impact revenue.
To some, that may feel like a lot of pressure. What can you be doing to maximize your team’s contribution? We’ll explore the tactics and approaches that other marketers are using to reach their goals of converting more prospects and leads into paying, revenue-boosting customers.
Ensure Goals are Clearly Defined
If you want to ensure that you meet or exceed your goals, it’s best to define them properly in the first place. Knowing where you want to go is the best way to figure out how to get there.
You could have the best staff, solutions, and tools, but without you and your team working towards clearly defined targets, you may still find it challenging to achieve your goals. The key here is to be as specific as possible, setting SMART goals and ensuring you’re tracking the proper metrics and Key Performance Indicators (KPIs).
If that’s not enough motivation, did you know that according to a 2022 CoSchedule study, marketing teams who set clear goals are 377% more successful than their peers? If your team wants to see success and increased revenue, it starts with deliberate, clear goal-setting.
Understand Your Target Audience – Actually
You may think you know your target customer, but when was the last time you reviewed your current audience? Gather up your team and start asking the higher-level questions. By answering these concisely, you’ll be able to provide quality leads, contributing to sales revenue growth.
Who is your ideal customer?
Asking yourself this question helps you target the customers who will gain the most from your service or product. If you haven’t yet, or it’s been some time, create your Ideal Customer Profile (ICP). Once you’ve narrowed down who your ideal customer is, you can craft the best way to reach them and maximize your profitability.
What core problem do you solve for your customers?
Brainstorm with your team to identify your buyer’s needs. Read customer reviews and talk with current customers. The buyer’s core needs could be anything from completing a task efficiently to gaining insights into a subject. Then, collaboratively identify the main pain point of your ICPs that you are solving. Knowing what problem you solve can aid you and your team in creating your future messaging.
What is their typical journey?
After carefully analyzing your buyer’s needs, determine their buying cycle. Get down and dirty with the details and map out the marketing and sales funnel, starting from awareness of the problem through a purchase decision. It’s imperative to understand the buyer’s journey so that you know exactly when and how to influence them based on their buying stage.
What are your competitive advantages? What sets you apart?
To properly market your solution, know what your competition is offering and how you differ from them. Confidently explaining why a customer would choose your company over the competition will give you a sense of identity and a stronger selling point.
Review Your Current Presence
Do you know how your customers view your marketing and sales funnel? It’s vital to review your online presence. Periodically review your websites and see how they appear on all devices and browsers. Take a look at your analytics and traffic as well.
While you’re looking through a customer’s eyes, think of how it would be to get the information you need to make a purchasing decision. Based on this information – what frustrates you? Did you find all you needed? Take the time to make plans to improve the customer’s online experience. What is their onboarding experience like once they start a trial or purchase?
Auditing your marketing strategy is a great way to find new opportunities and audiences to market to and improve revenue figures in the process. The best part? Uncovering new channels often requires little to no change to your current marketing strategy; you still keep your existing channels and methods.
Also, be on the lookout for new distribution channels & opportunities. While your team may have a tried and true strategy, what if you’re missing out on other channels that competitors are reaching? As we adjust to new normals, videos and webinars are leading the way in lead generation and increased revenue. According to the latest Demand Gen Report, more than half (53%) of marketers say webinars are the top-of-the-funnel format that generates the most high-quality leads.
Integrate Your Marketing and Sales Teams
Marketing is responsible for generating leads and then passing them off to the sales team. But, when it comes down to it, you both have the same end goal: increased revenue for the business. Integrating your marketing and sales departments is vital if you want to maximize the contribution from your marketers in the sales pipeline.
According to a 2020 LinkedIn report, approximately 87% of sales and marketing leaders say that collaboration between sales and marketing enables critical business growth.
If you haven’t already, you can encourage both departments to collaborate by drafting a service level agreement (SLA). The SLA should describe the lead requirements (which persona/ICP, the stage in the buyer journey, lead scoring), support options for each team, and how data and content will be shared. Don’t forget to track leads through the sales pipeline to discover best practices and marketing’s return on investment (ROI). If it works well, replicate it.
Optimize Your Budget
If you’re overspending, that will come back to your bottom line as a decrease in revenue. By optimizing your budget, you can still create quality leads and save money. Sometimes that means adopting a new strategy.
A go-to-market (GTM) strategy is one of the most effective strategies used across all industries due to its ability to precisely and cost-effectively connect with target audiences. It’s easy to see why – the cost of sending an email or making a call is negligible compared to running ads or organizing an event. However, to execute a successful GTM strategy, you need precise data points, which equates to needing a platform that can deliver accurate data.
Utilizing SalesIntel To Crush Your Goals
Wouldn’t it be great if you could find your ideal buyers faster, and maximize conversions, ultimately increasing your revenue contribution? SalesIntel provides 95% accurate human-verified contacts so you can reach ideal customers with ease.
Learn how SalesIntel helps marketing teams meet their goals consistently. We can help you generate more qualified leads with accurate contact, technographic, firmographic, and intent data.