Does Revenue-Focused Marketing Work? Here’s Proof.
Companies spend less on their marketing programs and generate better and bigger deals using a super-targeted approach to marketing:
Revenue-Focused Marketing (RFM).
Here’s a case in point. One healthcare IT company with a complex solution and a finite market learned first-hand just how well ABM works.
This client I worked with completed a campaign that cost $49,000. This RFM effort was laser-focused on ideal prospects (right size and right criteria); and the right role (targets with the right titles). The company only reached out to organizations that could be high-value clients.
That means they didn’t waste effort on a scattershot approach. Their time and money were applied to generating leads that paid off, and included extensive nurturing across multiple buying cycles.
Guess how much a traditional, less focused approach that involved reaching out to everyone in the marketing would have cost? More than 3X as much ($172,200).
If you’re still struggling with the same old issues marketing and sales has struggled with for years consider the following comparisons between traditional marketing and revenue-focused marketing (as defined by Jon Miller, who coined the RFM phrase (and who also co-founded Engagio, which was acquired by Demand-base in 2020).
Traditional Marketing Vs. Revenue-Focused Marketing
--Vanity Metrics vs. Target Account influence. Lots of phone calls and emails aren’t better. What really counts is meaningful, personalized engagement with the folks in a position to buy.
--More Leads. vs. Better Leads. It’s the age-old quantity/quality issue. Sales really does need fewer leads—if they’re highly qualified. Otherwise, all the leads are wasted.
--Satisfied Customers vs. Raving Fans. ABM is not about one-off deals. It’s about forging the strong relationships that last past the close.
--Small Deals vs. Big Deals. It’s the enterprise deals that count. Smaller accounts can be a distraction both before and after the sale.
--Silos vs. Alignment. When sales and marketing work together to drive revenue (and that takes process for sure) everybody benefits—the prospect/client, the team members, and the organization.