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Sales and marketing leaders are under more pressure than ever to directly connect their investments to revenue growth. This is a big challenge for B2C marketers who deal in transactional sales because of how their customers shop. The buying journey spans digital and offline channels, deepening the disconnect between the marketing team that initially engages a potential customer and the sales team that closes the deals. If both teams lack visibility of the entire buying journey, the whole thing falls apart, resulting in poor buyer experiences and lost revenue.
Leading analysts have caught wind of this problem, too, and Forrester’s recent Real-Time Revenue Execution Platforms Landscape, Q1 2024 report is pointing revenue teams to revenue execution platforms as the solution to optimise the entire buying journey and drive more revenue. Here’s how it works.
It’s no secret that companies across industries make massive investments in sales and marketing technology. It all makes sense on paper — you need this tech to scale your growth and keep operations running smoothly.
There are tools tailored for enhancing paid media investments, improving sales team productivity, and managing contact centres efficiently. The problem that we’re seeing now is that sales and marketing tech is often implemented in a vacuum where various processes on each side are optimised individually. The systems don’t communicate with each other, so the sales and marketing teams who use them don’t talk either.
There is a critical need for technology that seamlessly integrates these functions, particularly in transactional sales environments. This integration is where revenue execution platforms fill the gap between marketing and sales. These platforms enable organisations to use insights from marketing efforts to support the sales team effectively, even as the buyer journey transitions from online to offline. Revenue execution platforms are gaining so much traction in the market because they are the first B2C technology to truly bridge this divide between marketing and sales. They’ve quickly become an essential solution for businesses aiming to improve efficiency and maximise revenue generation.
Gone are the days when metrics like click-through rates and lead costs sufficed to measure success. In today's economic climate, both marketing and sales teams are held accountable for driving and proving revenue growth.
It's no longer acceptable for marketing to simply hand off leads or for sales to blame marketing for lead quality issues. This shift in mindset has led to a fundamental redefinition of these departments as revenue teams, emphasising the critical need for seamless collaboration between marketing, sales, and contact centres to achieve the ultimate goal: revenue generation.
However, the challenge lies in how to effectively align these teams. This is where revenue execution platforms emerge as game-changers. By leveraging the considerable investment in digital analytics and optimisation and harnessing it to inform sales strategies, these platforms empower revenue teams to close more deals effectively.
This transformational approach fosters cohesion among teams and drives tangible results, positioning companies for sustained success.
In the landscape of B2B marketing, we've witnessed a remarkable evolution in the alignment between marketing and sales teams over the past decade. Thanks to innovative technologies like ABM platforms, sales development tools, and content management solutions, companies have successfully addressed the historical misalignment that once plagued their operations.
However, the same can’t be said for the B2C and transactional sales arena. While significant attention has been directed toward managing the online buyer experience, the crucial connection between marketing efforts and driving online buyer behavior, and the subsequent offline sales execution, has been neglected.
This gap is where revenue execution platforms can bridge the divide between marketing and sales teams, particularly in transactional sales environments where conversions frequently occur on the phone. By facilitating seamless collaboration and data exchange between marketing and sales teams, revenue execution platforms are not just solving a longstanding problem but revolutionising how businesses approach revenue generation. It's a thrilling prospect, addressing an issue that has persisted for years with new solutions that are tailored to today's buyer journeys that span both online and offline touchpoints.
Commoditisation is rampant and revenue leaders recognise the importance of making every interaction count. Particularly in transactional sales scenarios, where companies often have just one shot to close a deal, the stakes couldn't be higher.
The buyer's journey — whether it unfolds online or transitions to offline channels like the contact centre — demands flawless execution at every touchpoint. A single misstep in the buyer experience results in lost opportunities that can't be recovered. It's this understanding that is driving the widespread adoption of revenue execution platforms among savvy revenue leaders.
These platforms offer the tools and insights necessary to ensure that every interaction is optimised for maximum impact, ultimately contributing to increased revenue for businesses. In a world where success hinges on the ability to seize every opportunity, revenue execution platforms are indispensable tools for sales and marketing leaders striving to stay ahead of the curve and drive sustainable growth.
Check out this webinar I presented with Google to learn more about revenue execution platforms and developing value-based optimisation strategies that drive revenue growth.
