As June 30 looms, securing revenues will force organsiations to behave in two very different ways. Those that are on budget and have every faith they’ll meet the June 30 target. Then there will be those who are behind and continue to scramble to secure business.
Lead-to-Revenue Management (L2RM) is another way to define the need to calibrate marketing’s spend to the result of revenue generation.
Apart from buying and implementing some technology, what else do you need and what is the “real” priority, in terms of cost and effort?
In late Jan 2013, another article was presented talking up the focus and importance of data.
Roman Stanek, the founder and CEO of GoodData, stated; In the past, “big data” as it’s come to be called was mostly limited to big companies with whole business intelligence functions and massive investments. Now, it’s democratized to the point where you encounter it almost every day as a consumer, and tools are being developed for everybody from small businesses to individual salespeople.
IBM stepped forward recently to state the blatant obvious. As a vendor with clear bias towards the message, we’re not convinced this message leaves the business community any better off.
“Big data will spell the death of customer segmentation and force the marketer to understand each customer as an individual within 18 months or risk being left in the dust, according to IBM’s CEO Ginni Rometty”
Marketing continues to be at the center of attention when it comes to spend. Whilst it makes perfect sense to maintain this focus in a continuely tough economy, the adjustment of meaningful metrics must remain with marketing and therefore the business.
By definition Marketing is all about creating inbound interest in your product or service. That includes a range of markets, including new, repeat, upsell and reclaim. Many will argue it is more than that… but in the spirit of helping business generate more revenue, even as a non-for-profit, creating inbound interest is a key pillar to the business plan.