There are many ways to use B2B digital marketing to increase revenue. In this blog, we’ll look at some of our favorite revenue triggers.
Your business is like a garden. If it’s not growing, it’s wilting. To maximize healthy growth, you need to predictably increase revenue. Generally, there are eight revenue triggers that any business can leverage.
- Increase leads
- Increase conversions of those leads
- Improve closing rates
- Upsell new customers
- Increase your pricing
- Increase your repeat business
- Launch new offerings
- Expand into new markets
By analyzing which specific outcomes will help you to achieve your growth goals, you can generate results quickly and efficiently … AND begin building a platform for long-term success.
Think of the ROI of your digital marketing as a series of ratios. Increase your ratios and you increase your revenue.
The five ratios that deliver B2B revenue growth
- Amount of traffic
- Number of leads acquired = marketing qualified leads (MQL)
- Number of those leads that become sales prospects = sales qualified leads (SQL)
- Number of proposals or quotes sent out
- Number of new deals closed
The most cost-effective and fastest way to generate revenue is to improve your ratios. When you convert more leads through 3, 4 and 5, then you maximize what you have already invested. In other words, focus on getting better at converting the leads you have, while you ramp up getting new ones.
Three ways B2B digital marketing can grow you through these revenue triggers
- Increase the number of leads you generate.
- Diversify your lead sources. To catch more fish, try fishing in more lakes. Then, as you see results, spend more on the platforms and content publishers that deliver results and eliminate the ones that don’t.
- Strengthen your messaging by empathizing with your target’s pain points.
- Test different options for your call to action (CTA) to learn what motivates people best.
- Improve your lead conversions.
- Enhance (and speed up) your buying experience. Make it simpler and faster for prospects to get answers, increase urgency and create moments of delight.
- Improve the design and look of your marketing. People buy with their eyes.
- Implement automation software to nurture your leads. Seek to serve instead of sell. (Bonus: This can also help you upsell and increase loyalty!)
- Refine your messaging to establish a new way of looking at their problem and reframe their buying criteria.
- Improve your words and calls to action to move prospects forward faster.
- Increase your closing rate.
- Analyze and document your sales process to uncover any redundancies and sticking points, as well as any practices that your best salespeople utilize that can be rolled out to your entire team.
- Position your offering as the unique solution to the problem that you reframed earlier in your B2B sales cycle.
- Leverage marketing content to overcome objections earlier in the buying process.
Increase your ratios and you increase your revenue
What revenue triggers should you focus on first or invest in most? Do you know how many new leads you need? How many leads need to be converted each month to make a real difference? Which revenue trigger does each member of your team own? Does your team know what actions to take to improve your ratios?
If you need help answering these questions, schedule a call with a Blender strategist. Ask us anything. You’ll be amazed at what a fresh perspective can do for your growth.
Blender is a full-service B2B marketing agency focused on accelerating growth for clients in manufacturing, healthcare, software and professional services.
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