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Marketers who follow state-of-the-art business practices—aka “modern marketers”—are more successful than those who don’t keep up with current trends. According to a Forrester survey of marketing decision makers in the U.S. and Europe:
♦ 44% of modern marketers say their companies exceeded revenue goals by 10% or more over the previous year
♦ 55% of modern marketers say they’ve increased sales by upgrading their business practices
♦ 94% of modern marketers say they’ve attained a significant market share, and 49% enjoy the market-leading position
That same Forrester survey revealed that only 11% percent of participating companies qualified as modern marketers, with the measurement and creative skills necessary to achieve amazing results. That means that 89% of marketers have quite a bit of catching up to do.
In this 5-part blog series, the experts at Televerde will give you a step-by-step education on how to modernize your marketing for increased profitability. In this first installment, we’ll show you the importance of using marketing automation technology effectively.
Televerde helped one manufacturing client implement marketing technology to sell more hot tubs. Not long after integrating Eloqua with Salesforce CRM, this client recouped its investment and created a $36 million opportunity pipeline.
Part of our engagement involved helping this client understand different buyer personas and mapping out the decision points leading to a purchase. This type of strategic thinking—combined with the new marketing and sales technology—made it easier for this hot tub manufacturer to develop and launch targeted lead nurture and demand generation campaigns for different types of buyers.
Ongoing support with sales and marketing automation, as well as campaign analysis and reporting, enables this manufacturer to feed its dealers accurate and detailed prospect information on a regular basis for continued growth.
According to Gartner, companies that automate lead management see a increase in revenue by 20% or more within 6 months. But just using marketing automation technology doesn’t mean it’s going to work.
To be truly effective, your marketing automation platform must be fully integrated across channels. And you need to commit to people and process excellence in order to optimize the technology and get the best results.
Too often, companies fail to achieve ROI from marketing automation because they lack the skills required to make the tools effective. Typical problems include:
♦ Not anticipating process changes in advance
♦ An inability to interpret insights generated by the technology
♦ Difficulty integrating disparate technologies to tell a single story
In our experience with the hot tub company, for example, Televerde worked hard to ensure that data fields and characters were synched across Eloqua and Salesforce so that valuable reporting could be generated and analyzed.
Marketers who recognize the importance of integrated technology tools—with CRM and marketing automation as the foundation of the technology stack—are well on their way to greater success as a modern marketer.
Just make sure you do it right, by finding a competent in-house platform specialist or working with a partner like Televerde. Either way, it’s important to ensure a proper implementation and continually optimize administration so you can stay focused on your strategy.
In the next post in this series about becoming a modern marketer, we’ll discuss the valuable technique of engagement planning. You’ll learn how to develop a framework for scoring and routing leads with the right digital and human elements. If you can’t wait, please download our comprehensive eBook—Your Step-by-Step Guide to Becoming a Modern Marketer.
 Forrester. “Why You Need to Be a Modern Marketer: The Business Impact of Marketing Maturity in the Age of the Customer.” Oct 2014.
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