One of the results of an increasingly connected digital world is the spectacular rise of demand generation at the top of the sales funnel. In order to successfully scale in this new paradigm, high growth companies must think carefully about their business processes and the infrastructure needed to support them.
Heidi Melin, CMO of cloud-based manufacturing ERP software maker Plex Systems, proposes that—rather than continuing to pay tribute to the traditional distinction between marketing and sales— CMOs of rapidly growing businesses should adopt the concept of a “revenue process” that seamlessly integrates the two. In this Moneyball for Marketing podcast, Heidi shares her tips for implementing the marketing technology and tactics of a “revenue process” for high growth companies. Highlights include:
Form Follows Function: It is essential that the CMO of a fast growing business clearly define the processes for connecting marketing and sales before choosing marketing technology for demand generation. Failure to do so, advises Heidi, may result in a chest full of “shiny objects” that do not map well to the revenue process needed to be successful.
Scale Model: For companies with double-digit growth, such as Plex, scaling does not mean merely adding headcount. Heidi details why and how CMOs should consider multiple geographies, languages, industry focuses, personalization of relevant content, and the marketing technology architecture to support all of that.
Right track, Fast track: A rapidly growing enterprise can easily collect an abundance of irrelevant contacts, wasting resources and obscuring insights. Heidi explains how to establish a tight engagement between the CMO and VP of Sales, and then build a demand generation process that creates velocity in the right prospect’s buying cycle.
Data Strategy: Once the right people are in the pipeline, the trick to qualifying leads is to understand who’s converting, what’s converting, whom the sales team wants to attract, and who is most likely to be interested. That, Heidi says, is where having the right marketing technology is important—to “get really hard and fast data over time on what’s most effective from a conversion perspective.”
Heidi Melin is the Chief Marketing Officer at Plex Systems. As a member of the Plex Executive team, Melin plays a key role in the company’s Go-to-market strategy and is responsible for the strategic direction of all marketing initiatives, including brand, demand generation, product marketing, corporate communications and operations. With a rich background in enterprise software and technology, she previously served as CMO at Eloqua, Taleo, Polycom and Hyperion. She also spent 10 years as a senior marketing executive at PeopleSoft. Melin earned a Bachelor’s degree in Political Science and Organizational Psychology from Willamette University in Salem, OR.
Plex is the Manufacturing Cloud, delivering industry-leading ERP and manufacturing automation to nearly 400 companies across industries including aerospace and defense, food and beverage and motor vehicles. Plex pioneered Cloud solutions for the shop floor, connecting suppliers, machines, people, systems and customers with capabilities that are easy to configure, delivering continuous innovation, and reducing IT costs. With insight that starts on the production line, Plex helps companies see and understand every aspect of their business ecosystem, enabling them to lead in an ever-changing market.
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Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.