Want to increase your inbound revenue by 70% next year? Then you may want to listen to this conversation with Jonathan Morgan, the Director of Sales and Marketing Ops at AchieveIt. To do this, they were able to increase contract values by 30% and increase close rates by over 25%. Notice we haven’t mentioned anything about MQLs here.
What you’ll learn in this episode:
- How to come balance revenue ops and marketing
- How to continuously give to your customers
- How to simplify goals and metric reporting for marketing
- How to adapt your go-to-market strategy and demand gen playbook when going into a new industry
- What marketing metrics should you be tracking (if you are in SaaS)
- What the core fundamentals are to be a good marketer
- How to work with your finance team as a marketer
- Start by talking to your customers when coming into a new role
- Find ways to surprise and delight your customers in your marketing
- Enable a strong, trusting community with your customers through things like webinars
- First understand your business and your sales & marketing resources before you make any changes to your marketing
- Focus on demand capture optimization first before you focus on demand generation activities
- Rather than focusing on contact info capture, focus on understanding what your customers are actually doing on your site
- Don’t forget to get your sales team onboard before you switch your marketing model
- Focus on ways for marketing to give credit, rather than take credit
You’ll need to listen to the full episode if you want to hear the Lightning Round, but here are a few highlights:
- Jonathan hates the term “growth hacking”, which is music to my ears. I hate this term as well.
- For any revenue focused folks out there, take a listen to the Revenue Architect podcast which was highly recommended to Jonathan
The most successful marketers out there have a unique combination of skills. Some are great at copywriting and technical SEO. Some are great at analytics and strategy. Others are great at creative and paid media. But more than any of these tactical skills, adding business knowledge and acumen as a layer is what makes a good marketer into a great marketer.
The shift is happening where marketing is being seen more and more as a revenue generator, and as this happens, the marketing leaders that get a seat at the table are those who are good business people first, and great marketers second. CMOs need to be just shepherds of the P&L just as much as CFOs.
Marketers need to understand how the business is funded. They need to understand how the business makes money. They need to understand what the strategic business priorities are at any given time, and why they are the priorities. Marketing strategy then needs to be built to support and reflect this knowledge.
As Jonathan described in our conversation, understanding things like CAC payback period is crucial if you are not a VC backed business because your business will thrive or die based on cash flow. We also had a similar conversation with Garrio Harrison back in episode 11.
So if you are a marketer coming into a new organization, or if you have been in with your current org for a while and are trying to get a seat at the table, do yourself a favor and work to understand the business first. Then you can go about shifting your and your organization’s mindset about the value that marketing can bring. Shifting the mindset from marketing being a cost center, to a profit center is key, and the best way to do that is to shift how marketing is measured. Shifting to measuring marketing based on pipeline and revenue generated is what needs to happen.
A bit more about Jonathan:
Jonathan started in civil engineering, moved into management consulting, and then finally came into his current company as a customer success strategist, and finally moving into revops and marketing over the past few years.
Helpful Links & Resources:
- Connect with Jonathan on LinkedIn: https://www.linkedin.com/in/jonathan-d-morgan/
- FollowAchieveIt on LinkedIn: https://www.linkedin.com/company/achieveit/
Connect with Mike & Gaby at Proofpoint:
- Mike’s LinkedIn Profile: https://www.linkedin.com/in/mikegrinberg/
- Gaby’s LinkedIn Profile: https://www.linkedin.com/in/gabriellaisrael/
- LinkedIn Company Profile: https://www.linkedin.com/company/proofpoint-marketing-llc
- Proofpoint YouTube Channel: http://bit.ly/ProofpointonYouTube
- Proofpoint Website: www.proofpoint.marketing