It is possible to change the longstanding perception of marketing as a cost center rather than an essential revenue driver, but it will take work. Marketing professionals need to master processes for making concrete revenue forecasts, treating spending as investments with committed returns and results, and speaking in terms of concrete business metrics like pipeline, revenue, and cash flow.
At the same time, marketing needs to be assertive. Marketing executives need to insist that their sales colleagues come to the table and begin to coordinate activities as a true revenue team. To facilitate these interactions, marketing needs to demonstrate in both action and word that they, too, are accountable for revenue performance. Also, since better accountability necessitates better performance, marketing needs to live up to its promises by delivering more leads and higher quality leads to sales as part of an overall Revenue Performance Management Process.
In Part III of this book, I’ll delve more into specific levers that marketers, and their counterparts in sales, can pull to start revolutionizing their companies’ revenue performance and drive outsized revenue results.