TMM’s Marketing Innovators Interview Series Presents: Debbie Qaqish of The Pedowitz Group

| February 17, 2014

 

 

Marketing executives are often asked, “What are you going to do about revenue?” – This one question begins the transformation of marketing from a cost center to a revenue center, a journey which most executives are not fully prepared to think about. To help understand and describe this transformation, Debbie Qaqish and The Pedowitz Group coined the term Revenue Marketing in 2010. To support this, the team held REVTalks (The Revenue Marketing Summit) in San Francisco this January. Debbie was generous enough to sit down with TMM to answer our questions:

 

1. For our readers, can you tell us: What is “revenue marketing”?Debbie_Headshot

Revenue Marketing is a term I coined in 2010 that refers to the new role of marketing in direct revenue contribution.  For any B2B marketer that now has a “quota”, revenue marketing describes the strategy, people, processes, and technologies required to produce a predictable revenue impact from marketing.

 

2. Can you talk a little about the journey from traditional marketing to revenue marketing?

The Revenue Marketing Journey is a simple 4-stage model I introduced in 2011 and has since been vetted with thousands of marketers.  The first stage is traditional and refers to marketers responsible for activities such as impressions, webinars, PR, and general marketing communications.  Lead Generation is the second stage and is characterized by marketing using an email system to produce leads for sales.  The next stage, Demand Generation, is characterized by use of marketing automation integrated with CRM and marketers are responsible for contribution to both the pipeline and to closed business.  At the Revenue Marketing stage, all technologies and processes are optimized and the marketer can forecast marketing contribution to the pipeline and revenue.

 

3. In chapter 4 you talk about the eight key competencies for building a revenue marketing stream. Can you explain that a little more?

I’ve been writing about the competencies required by a Revenue Marketing team since around 2009 and see an increasing level of sophistication as this area matures.  The eight competencies described in the book are what I call baseline competencies in that these are the minimum competencies needed.  There needs to be an executive with the vision for Revenue Marketing and on his/her team also needs to be a business analyst, a marketing automation power user, a nurture specialist, a creative specialist, a content specialist, and marketing operations specialist.  This is not to say an organization needs eight people, one for each role.  I am saying a company beginning the Revenue Marketing Journey needs this set of competencies across a number of people to be successful.

 

In larger companies who are serious about Revenue Marketing, I see a move to a new organizational structure – a center of excellence.  This requires advanced skills and has the advantage of building deep skills sets that can be distributed in a shared services model across the organization.  This helps a larger organization more quickly build operational excellence in Revenue Marketing.  I share this model in detail in Chapter 5 of my book.

 

4. How should revenue marketers use technology to improve results?

Revenue Marketers are only Revenue Marketers because of technologies such as marketing automation and CRM.  These technologies allow Revenue Marketers to provide closed loop visibility and reporting from a cold name in a database to a closed deal.  Some marketers adopt technology much easier than others and these are the marketers making huge impacts on revenue.  The embrace, experiment with, and optimize technology every day in order to improve revenue marketing results.  For those marketers who are not embracing these technologies, finding and keeping a job will become a challenge.

 

5. On that note, What metrics show marketers that they’re on the track?

Revenue Marketers are focused on metrics that matter to the business such as percent and dollar contribution to the sales pipeline from marketing sourced lead and percent and dollar of closed business from marketing sourced leads.  Every other metric is secondary.  Really.

 

6. What is REVTalks and can you highlight what this means for the industry?

REVTalks was our first conference and the first ever conference for senior marketing leaders concerned with how to lead the transformation of their marketing organizations from cost centers to revenue centers.  We saw this dialog missing from the market and so we invited 34 senior marketers to share their “A-HA” moments in a 15-minute Ted Talks style presentation.  The very short time for each REVTalk forced each presenter to provide very focused leadership tips and lessons learned that was greatly appreciated by the audience.

 

You can find a few short videos from REVTalks here: https://www.brighttalk.com/channel/10555.

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Marketing executives are often asked, “What are you going to do about revenue?” – This one question begins the transformation of marketing from a cost center to a revenue center, a journey which most executives are not fully prepared to think about. To help understand and describe this transformation, Debbie Qaqish and The Pedowitz Group coined the term Revenue Marketing in 2010. To support this, the team held REVTalks (The Revenue Marketing Summit) in San Francisco this January. Debbie was generous enough to sit down with TMM to answer our questions:

 

1. For our readers, can you tell us: What is “revenue marketing”?Debbie_Headshot

Revenue Marketing is a term I coined in 2010 that refers to the new role of marketing in direct revenue contribution.  For any B2B marketer that now has a “quota”, revenue marketing describes the strategy, people, processes, and technologies required to produce a predictable revenue impact from marketing.

 

2. Can you talk a little about the journey from traditional marketing to revenue marketing?

The Revenue Marketing Journey is a simple 4-stage model I introduced in 2011 and has since been vetted with thousands of marketers.  The first stage is traditional and refers to marketers responsible for activities such as impressions, webinars, PR, and general marketing communications.  Lead Generation is the second stage and is characterized by marketing using an email system to produce leads for sales.  The next stage, Demand Generation, is characterized by use of marketing automation integrated with CRM and marketers are responsible for contribution to both the pipeline and to closed business.  At the Revenue Marketing stage, all technologies and processes are optimized and the marketer can forecast marketing contribution to the pipeline and revenue.

 

3. In chapter 4 you talk about the eight key competencies for building a revenue marketing stream. Can you explain that a little more?

I’ve been writing about the competencies required by a Revenue Marketing team since around 2009 and see an increasing level of sophistication as this area matures.  The eight competencies described in the book are what I call baseline competencies in that these are the minimum competencies needed.  There needs to be an executive with the vision for Revenue Marketing and on his/her team also needs to be a business analyst, a marketing automation power user, a nurture specialist, a creative specialist, a content specialist, and marketing operations specialist.  This is not to say an organization needs eight people, one for each role.  I am saying a company beginning the Revenue Marketing Journey needs this set of competencies across a number of people to be successful.

 

In larger companies who are serious about Revenue Marketing, I see a move to a new organizational structure – a center of excellence.  This requires advanced skills and has the advantage of building deep skills sets that can be distributed in a shared services model across the organization.  This helps a larger organization more quickly build operational excellence in Revenue Marketing.  I share this model in detail in Chapter 5 of my book.

 

4. How should revenue marketers use technology to improve results?

Revenue Marketers are only Revenue Marketers because of technologies such as marketing automation and CRM.  These technologies allow Revenue Marketers to provide closed loop visibility and reporting from a cold name in a database to a closed deal.  Some marketers adopt technology much easier than others and these are the marketers making huge impacts on revenue.  The embrace, experiment with, and optimize technology every day in order to improve revenue marketing results.  For those marketers who are not embracing these technologies, finding and keeping a job will become a challenge.

 

5. On that note, What metrics show marketers that they’re on the track?

Revenue Marketers are focused on metrics that matter to the business such as percent and dollar contribution to the sales pipeline from marketing sourced lead and percent and dollar of closed business from marketing sourced leads.  Every other metric is secondary.  Really.

 

6. What is REVTalks and can you highlight what this means for the industry?

REVTalks was our first conference and the first ever conference for senior marketing leaders concerned with how to lead the transformation of their marketing organizations from cost centers to revenue centers.  We saw this dialog missing from the market and so we invited 34 senior marketers to share their “A-HA” moments in a 15-minute Ted Talks style presentation.  The very short time for each REVTalk forced each presenter to provide very focused leadership tips and lessons learned that was greatly appreciated by the audience.

 

You can find a few short videos from REVTalks here: https://www.brighttalk.com/channel/10555.