Marketing is designed to help companies generate revenue—but most marketing departments fall short of positively impacting the bottom line.
B2B CEO are no strangers to this paradox. Here is the good news though: CEOs are in an ideal position to change the narrative and empower their marketing teams.
Here are three initiatives CEOs can take today to help their marketing teams create value—and profit.
1) Set clear marketing goals
There’s no room for arbitrary goals in a revenue-focused marketing strategy. Be specific. Establish SMART goals using the GOST framework to ensure a concrete vision and a clear path forward:
- SMART goals are Specific, Measurable, Attainable, Relevant and Time-Bound
- The GOST framework includes specific Goals, Objectives, Strategies, and Tactics
When your marketing goals are clearly aligned to business goals and rooted in tangible data, they’ll mean more. More importantly, they’ll shed light on the path to capitalization in specific verticals and market segments.
As you establish clear goals, make sure they’re transparent and universally agreed upon—especially by stakeholders across the company, which is a great segue into our next key point.
2) De-silo departments and data
Companies can’t afford to operate in a siloed environment anymore. Data synergies across departments are simply too valuable to leave locked up! Knock down these walls and bring data together across departments to facilitate a concentrated push toward universal marketing goals.
Marketing needs to communicate with Sales. Sales need to maintain a relationship with Product. Product needs to sync with Marketing. Every line of business needs to have a frictionless relationship with each other so they can all thrive in an organized marketing strategy. Examples include:
- Using marketing data to inform sales goals for specific verticals and segments
- Relying on product insights to create targeted, value-driven marketing messaging
- Communicating customer service challenges to improve product and sales efforts
3) Build the right teams
De-siloed marketing ops necessitate great team-building. Breaking down walls and relying on data synergies takes people who can think holistically and see the bigger picture. To succeed in a revenue marketing mindset takes internal- and external-focused teams that can collaborate in pursuit of common goals.
Leadership is key. Whether they head-up Marketing, Sales, Product, Customer Service or another department, great leaders will know their team’s role in the overall marketing strategy. They’ll know not just how to contribute, but also how their contribution affects the trajectory of the company’s marketing efforts. It’s all about a micro focus with a macro understanding.
And don't be afraid to outsource to a revenue marketing agency; sometimes, a team might not have enough bandwidth to do it all, so outsourcing to the right agency can be a valid part of building the right teams.
Revenue marketing requires broad buy-in
Determining viable marketing goals and executing a revenue marketing strategy is no small feat for CEOs. In fact, it takes the entire team. Executive leadership needs to commit to a marketing strategy and rally the team around it by getting everyone on the same page. Set clear goals. Knock down department and data silos. Build thoughtful teams. Together, these three strategies culminate in exactly what businesses expect from their marketing strategy: revenue.
Want to learn more about how to set clear marketing goals? Download the free GOST Framework template.