Revenue marketing is a new way of thinking about the entire marketing process…and it’s all about focusing on the bottom line versus brand recognition or awareness.
For example, traditional marketing focuses on driving traffic to your website and revenue marketing focuses on getting them to make a purchase once they’re there.
Or, traditional marketing reports on the number of people who saw your ads and revenue marketing reports on how many people bought your product or service.
Revenue marketing differs from traditional marketing in that it focuses on using data to better understand customers and their needs, which increases their ability to convert them into paying customers.
Revenue marketing works by leveraging data, customer insights, and digital technology in order to create content and experiences that resonate with your target audience. This is different than traditional marketing because it focuses on engagement with customers instead of just trying to get their attention.
The revenue marketing framework delivers in four key areas:
- Filling the sales pipeline with marketing qualified leads (MQL).
- Increasing sales conversion rates and reducing the length of a sales cycle.
- Prioritize repeatable and scalable activities with measurable ROI.
- Tying sales revenue to marketing activity to prove ROI.
This type of marketing can help companies scale because it is more directly tied to revenue—meaning that companies are focusing on the most important metric for success.
Watch my Profit Finder Workshop to determine how you can earn more money in your business by doing less better.