With Tricia Wills Ruiz, Creative Content Manager, Real Impact
Revenue is the goal of B2B marketing and sales. Well, sure – everyone knows this.
However, B2B sellers are still looking for ways to ensure that every dollar spent on marketing and sales contributes to the bottom line. In fact, nearly 60 percent of CMOs say they face increasing pressure to demonstrate the positive impact of their programs.
We got past Lead Gen 1.0, which is where we just met the lead stakes. We’ve developed group buying and selling journeys that give us better insight into how individual account behaviors move toward selling. We have invested in cross-channel and cross-channel referral technologies to identify touch points that are key revenue drivers. We’ve also experimented with new organizational models, such as revenue operations, to get sales and marketing on the same page.
But whatever your business is doing to focus on revenue, data should be the starting point.
Data is the roadmap to revenue
Aristomenis Capogeannis, Director of Revenue Marketing at NVIDIA, has a distinct perspective on how data can drive every decision in the revenue pipeline.
Early in his startup career, Capogeannis was accustomed to an inclusive marketing culture as his team experimented, executed, and executed. But after joining NVIDIA in mid-2020 (as part of its acquisition of Cumulus Networks), he saw that his new company simply had too many products and audiences to operate in an “agile and haphazard” manner, as he put it.
So, after doing some soul-searching, Capogeannis is building his revenue marketing team to focus entirely on data-driven “integrated pipeline analysis.” Marketing Execution and SDR live in other teams, while Revenue Marketing took on the role of enterprise level data analysts. “I take them on the path from taking tickets to looking for actionable insights,” Capogeannis said of the new model.
The roadmap includes intelligence from both sales and customer success, with the ultimate goal of modeling purchasing journeys that extend beyond the initial contract. Although he doesn’t have a hugely complex revenue pipeline, Capogeannis sees in Revenue Marketing the cohesive force that can focus marketing and sales on revenue generated as a unique goal.
He uses the running shoe metaphor – the holes on the sides of the shoe are operational marketing and sales, and revenue marketing is the laces that bring the two sides together.
“When we’re done, we’re ready to run,” he says.
Getting results from revenue marketing
My conversation with Capogeannis, part of the True Influence Accelerating Revenue Series, was an interesting look at the challenges of building a comprehensive data-driven strategy at an organization as massive as NVIDIA. The organization has built its notable success as a graphics hardware manufacturer and is now focusing on artificial intelligence, data center and other advanced computing applications. It has more than 10,000 marketers working in support of its massive portfolio.
That’s a lot of moving parts, and a lot of data.
Some of the main ideas we discussed include:
Too much of anything, even data, too much
Best Slice Capogeannis Ever Created Linked Database Growth vs. Revenue Growth via Acquisition Channel. In the midst of a lengthy presentation on predictive analytics, this data point resonated, shifting resources to software that was actually feeding into the bottom line.
Capogeannis calls this approach “snackable data” — to find actionable insights that clearly show the “why” behind your decisions. From there you can engineer the pipeline based on an entire array of data, while stakeholders execute without having to reinvent daily procedures.
Beware of the “Operation Guide”
Marketers need to realize just because one set of tactics works for a specific audience or product, doesn’t mean they translate literally to every situation. Relying solely on past experience, even when current data point in a different direction, is a recipe for failure.
“Don’t argue about something. You don’t need to,” Capogeannis says. “Just throw statements, tell people what and have a conversation about it.”
Let the buyer lead the conversation
Capogeannis doesn’t believe in the classic “funnel,” but says there’s something to be learned from the light touch most marketers use in the early stages of this model. With all the digital channels—email, social, program, inbox, and personalized web experiences—as demanded by marketers, the vision should be to build a cohesive media experience that helps the buyer find their next answer, at their own pace.
Just because someone downloads a white paper doesn’t mean they want to continue in the next five minutes.
Arithmetic Journey Analysis is the Holy Grail
Many marketers, even those who have invested in omnichannel referral, remain focused on modeling personal buying journeys, in the overall context of the gap-filling Buying Group dynamics. Capogeannis wants to go one step further and map out the entire reckoning journey — which he admits is “a mess to manage.”
“If you pull out one or two people who eventually do business with sales, you get an idea of the water cooler conversations that shaped[the account]’s journey,” he says.
So far he hasn’t found a magic bullet indicating how a new net name might affect the final purchase decision of a large account. But he works on it.
Check out the episode!
Be sure to check out our full conversation with Aristomenis Capogeannis on your favorite platform.