Marketo’s Revenue Cycle Modeler drives Marketing and Sales Alignment
Most great love stories need a forcing function. Something to enable happily-ever-after. For Romeo and Juliet, it was fate. Westley and Princess Buttercup were aided greatly by Inigo Montoya and Fezzik. Friendship was the foundation when Harry met Sally – and apple pie (heated, with the ice cream on the side).
Marketing and Sales haven’t always been the best bedfellows in many organizations. Different metrics, dissimilar personalities, and disparate systems have sometimes created a relationship more like Hatfield and McCoy than Bogart and Bacall. Until now. Riding to the rescue to change Marketing and Sales fate from tabloid fodder is Marketo’s Revenue Cycle Modeler.
Marketo’s Revenue Cycle Modeler: The platform’s central nervous system
We like to tell our clients that the Revenue Cycle Modeler is the central nervous system in Marketo. It’s the tissue that facilitates more advanced capabilities and analytics within the platform. Surprisingly, we find many Marketo customers have either not deployed it or have not deployed it properly. They are missing a lot of the value of Marketo, and more importantly, they are missing the opportunity to unify the efforts of marketing and sales.
Enabling relevant communication throughout the buyer journey
The Revenue Cycle Modeler is a capture of the buyer journey – from an anonymous visitor to your website to a closed won deal.
Leads progress through the stages in the model typically based on their lead score, lead status, and opportunity stage. The beauty of it is that you can set up automagic communication to prospects based on their stage in the buyer journey. This heightened degree of relevant messaging and content drives faster, better conversion. Nurture streams, website personalization and even display ads can deliver messages to someone based on where they are at in their buying process.
Enabling lead management and SLA enforcement
A second major reason to use the Revenue Cycle Modeler is to properly manage leads between marketing and sales. The associated lead lifecycle program that we build with a client’s Revenue Cycle Model governs the passing of leads from marketing to telequalification to sales (and back when they need recycling). The model enables you to implement, measure, and manage prenuptial agreements – er, service-level agreements.
Pinpoint where leads are bottlenecking: Success Path Analyzer
Relevant communication is one huge reason to implement this functionality. Another is better analytics. The Success Path Analyzer is but one of many reports in Marketo that benefits from deploying the Revenue Cycle Modeler. This analyzer enables you to see how leads are progressing through the buyer journey, where they are bottlenecking, and how long they are staying in each stage. It enables marketing and sales to be more precise in applying campaigns, content, and sales plays where they are needed most.
“I’ll have what she’s having”. Don’t be left out this Valentine’s Day!
What better time of year than Valentine’s to re-evaluate your relationship with sales? If stronger alignment, better lead management, a service-level agreement, targeted nurturing, and deeper analytics are what you are looking for in this relationship, look no further than Marketo’s Revenue Cycle Modeler. As you wish.
About the Author: Mark is the President and Founder of Demand Spring. He has more than 17 years of client-side experience in marketing leadership roles with organizations such as IBM and Cognos. Mark can be reached at email@example.com and on Twitter.