True confessions of a CMO, part 3: Marketing sourced pipeline is bogus

30-second summary: Too often we self-silo because it’s hard to control and attribute the breadth of potential revenue-generating sources back to each and every activity. But if you want to survive, it’s the job. The ultimate goal for marketing, sales and your entire organization is to achieve predictable revenue growth. Now, with an AI-driven account engagement platform, we have the means to measure our effectiveness, not for attribution credit or as a goal in and of itself, but as a way to optimize our campaigns and budget to maximize predictable outcomes. It’s much easier to predict revenue from a campaign aimed at a small segment of highly targeted accounts than it is from 1,000 leads who filled out your contact us form. Look at account engagement as a critical measurement for your account based segments with respect to timing, specifically how to identify and pursue “in market” accounts. Start with revenue and pipeline instead of leads. Understand how account engagement impacts that cycle and build your go-to-market plans to maximize segment engagement. Use measurement and funnel insights to ensure your resources (sales and marketing) align with the buyer’s journey. In my last article , I confessed I cheat when it comes to account and lead scoring , allowing AI to determine the high-value accounts and leads we pursue, rather than an arbitrary scoring system like the MQL. Honestly, more people should use this cheat code because according to our research, 50% of respondents believe their lead scoring processes don’t even surface the best leads accurately or consistently. Rather than the traditional lead scoring processes, we use the “6QA” to tell us when accounts are “in-market” through a combination of account profile fit, contact profile fit, engagement scores, and in-market predictions. The 6QA removes subjectivity and allows us to appropriately engage based on the account’s buying stage. So, my last confession (for now) is that I’m calling BS on marketing only owning part of the pipeline and quarterly revenue targets. Marketing departments have come a long way, and the majority of the ones I talk to own, or at least feel responsible for, a portion of the overall pipeline. BUT I have to ask: If marketing is crushing pipeline goals and the overall company is not, is the job really done? Too often we self-silo because it’s hard to control and ATTRIBUTE the breadth of potential revenue-generating sources back to each …
Read Full Article on Clickz