To push your business forward, your organization needs to attract more high-quality leads. In fact, 61% of all marketers say traffic and lead generation is their top challenge. Although lead generation is a major driver of growth and a high priority for CMO’s this year, oftentimes leads are not converting into sales.
Creating and deploying unique, differentiating marketing campaigns to drive leads is only half the battle. To turn those valuable leads into revenue, your organization needs to optimize your internal marketing strategies to increase ROI and ultimately drive business growth.
Sound good? Great. Without further ado, here are our top three tactics organizations can deploy to optimize their marketing strategy and increase their bottom line.
1. Develop the right tech stack for your organization.
A marketing technology stack is the collection of technologies that marketers use to optimize and augment their processes throughout the customer lifecycle. Think HubSpot, Google Analytics, HotJar, etc. When you have the right tech at your fingertips, you can automate processes, innovate rapidly, measure continuously and improve your marketing campaigns — all while enhancing campaign efficiency and execution. Together, these features allow your organization to remain agile and achieve a higher return on every marketing dollar you invest.
While MarTech stacks across organizations may differ, the basic components of a successful stack include a marketing automation tool, a content management system, advertising technology and a web analytics tool.
Strong MarTech stacks help companies uncover their customers’ pain points, gain important insights into their prospects’ engagement across campaigns and target their marketing efforts more effectively – all leading to stronger, more impactful, revenue-driving marketing strategies.
2. Create clear alignment between marketing and sales teams.
Sales and marketing alignment is critical to the success of any marketing ops program. The goals are to deliver a seamless experience for an organization’s prospects or customers, increase conversion rates and ultimately boost revenue. It’s a symbiotic relationship based on mutually agreed upon goals, KPI’s and processes, that benefit both teams by helping them supporting one another.
Misalignment between marketing and sales is a common occurrence. In fact, 60 to 70% of B2B content is never used, because the subject topics are irrelevant to the buyer audience (Content Marketing Institute). And 79% of marketing leads never convert due to a failure to nurture customer connections (HubSpot).
Need help in achieving sales and marketing alignment? Here are some methods we’ve found work well:
When sales and marketing align, revenue increases, the sales cycle shortens and conversion rates improve.
3. Utilize and optimize data to drive decisions.
Data rules the world. Understanding not only how to generate data but how to utilize it to make important decisions around your campaigns is critical to marketing success in 2023.
Data should be the cornerstone of any marketing ops program. It gives your teams the ability to target campaigns to segmented audiences, create content based on what you know your consumers love and build messages that you know will engage. Data-driven decision making is your most powerful marketing tool.
The first step in building a data-driven program is to identify the key metrics and performance indicators relevant to your marketing campaign and develop systems for gathering and analyzing that data. Once KPIs are decided upon, your marketing department should use data visualization tools and other analytics software to make sense of your data and provide qualitative insights into your marketing performance. By using these tools, you can identify trends and patterns in the data and use this information to inform your decisions moving forward.
If you’re looking to increase your revenue in 2023, make sure you MarTech stack is providing you with the data needed to better understand your target customer, your marketing and sales teams are speaking the same language, and you’re deploying data into every step of your decision-making processes across all your marketing ops efforts.
With countless successful missions under our belt, leading B2B and B2C companies partner with us to plan, create, launch and optimize their campaign success.
