029 - The Buyer Centric Revenue Model
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We include the perspectives from a variety of enterprise marketers, stories from fast-growth businesses challenging the conventional ways of working and thinking, and the top 1% of B2B marketers shaping modern-day practices.
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1* “ Customer Acquisition Costs Have Skyrocketed by 55%”
Competition is at an all-time high
Buyer's expectations are at an all-time high
Key channels are more competitive than ever
And a recession is looming
Nothing new, and certainly all rather negative.
But we have internal control of the goals we strive for and the strategy to get us there.
But yet, brands, large and small are misaligned and more fragmented than ever.
Goals are not aligned, a unified approach on how to get there is disjointed and internal collaboration is sometimes treated with an air of scepticism.
The solution.
Sales, marketing and senior management need to align on the common goal for the business.
Sales and marketing need to work together on how to get there.
Sales and marketing need to set clear expectations and collective goals for achieving these goals.
2* The Buyer Centric Revenue Model
This image caught my eye on my news feed this week. Original post.
This is a perfectly summarised articulation of the modern-day challenges and opportunities for B2B brands.
Marketing has evolved dramatically in the last twenty years, ten years, and three-five years.
Yet, most B2B marketing still lends itself to playbooks from 2010.
This presents a huge opportunity for brands prepared to adapt to modern-day B2B marketing techniques.
A few quick suggestions…
Internal alignment between sales and marketing on revenue goals
Marketing to focus on qualified pipeline, not MQLs
Adopt a healthy obsession with your customers (feedback loops, customers interviews, listening to sales calls)
Introduce a strategy that aligns with how / when your customer buys
Manage upwards on expectations for marketing focus
3* Focus on leading indicators and quality instead of quantity
Measuring success does not mean always measuring it directly.
This is a great example of truly understanding your buyer, their needs and how to communicate with them.
Requiring success to be either attributed in a CRM platform, or a ROI deliver on every channel, is going to force you to execute your marketing in a particular way.
A way that isn’t best doesn’t reflect how buyers behave today.
Introduce leading indicators that reflect broader success is going to shift how you approach your marketing.
,Leading indicators can include qualitative insight / customer feedback, reduction in sales cycle, CVR increase for inbound.
All key metrics that build a broader picture to the impact of your strategic approach which will enable you to do better marketing.
Conversations / Articles You Should Read
The problem with creating new demand
Ownership of the buyer's journey
Automation is not enough for B2B owners
Prospects ignore your templated emails and LinkedIn messages
How to write 10x better LinkedIn posts in 5 steps
Tools, Platform, Events or Podcasts
Each week I share a tool I find interesting, an event I’m attending or a podcast I have listed too.
Are you interested in selling a book, an article, or a membership? Get started at GumRoad.
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