The first annual Revenue Marketing Index 2019 Report emerges as an effective tool in gaining the insight needed to achieve business success through Revenue Marketing
The Revenue Marketing Index™ 2019 Report, the first report of its kind in the industry, has emerged as a valuable tool for marketing professionals around the world. The report delivers the input gathered from more than 1,000 marketers over a period of four years, condensing hundreds of data points designed to demonstrate where the marketing industry stands in regard to the evolving Revenue Marketing industry.
The research revealed only six percent of respondents feel they are very capable of assembling and managing technology. In addition, only 22 percent of the respondents reported confidence in the ability to report financial outcomes while 27 percent indicated certainty in the ability to manage the customer journey successfully.
As companies move from stagnant traditional marketing efforts to progressive revenue marketing, these percentages will escalate quickly for firms who make the transition now.
Moving Beyond Traditional Marketing into the Future
Traditional marketing will soon be a technique of the past as Revenue Marketing continues to evolve and transform the industry. The lighting fast digital transformations of today often leave unsuspecting companies in the dark as new technologies rise with the tide of customer-centric dynamics, not to mention the mounting pressure on marketing professionals to positively affect revenue and growth from within their companies.
Demonstrated by these statistics, the 2019 Revenue Marketing Research Index indicates most marketing teams are not functioning at levels demanded by the leadership of their companies in regard to revenue and growth. It is hard to fathom given the tools available to the industry today – technology, information, data, education – that marketing processes continue to reflect a traditional marketing approach. Industry leaders are demanding marketing teams become an accountable portion of their respective organizations.
While marketers wonder how to meet the demands, Revenue Marketing offers the solution. With a customer-centric approach, Revenue Marketing drives financial results with a strategy to action approach that is scalable and repeatable. In the first edition of the Revenue Marketing Index Report, marketers garner data-driven insights regarding the six key pillars and 30 capabilities of revenue marketing to help industry professionals navigate the pathway to success via Revenue Marketing.
The Revenue Marketing Journey
Marketers will discover the journey to the future of marketing begins with the Traditional Marketing model, followed by Lead Generation and Demand Generation, finally arriving at the destination – Revenue Marketing. Passing through each stage, marketing professionals will see the evolution as metrics, technology, and business align. This evolving model, developed by the Pedowitz Group serves as the basis for the Revenue Marketing Index. (RMI).
The Revenue Marketing Index (RMI) reveals the current state of marketing and is the only such measure available to members of the marketing industry. The information is gleaned from the marketers who completed the Revenue Marketing Assessment (RMA) evaluated capabilities and performance pillars and offered insight into the range (1-4) of the marketing industry in its entirety.
The marketing pillars evaluated include Strategy, People, Process, Technology, Customer, and Results. Overall, the RMI is at 2.3 indicating the industry is sitting squarely in the Lead Generation stage of the Revenue Marketing journey. Each of the six pillars was also rated with the 1-4 range indicating progress as well as opportunities for improvement. The Strategy pillar scored highest at 2.7 indicating leaders in the industry understand the need for change. Both the Technology and Results pillars had the lowest scores at 2.1 RMI. For Technology this represents challenges in gathering usable, clean data effectively. For results, the indication is clear in its representation of the ongoing struggle of marketers to prove their value to industry leadership.
The Revenue Marketing Index provides insight into the current market’s state of maturity, but also have provides marketers the chance to compare their marketing techniques with those of other industry professionals, identify gaps, and gain the edge as they advance in the future that is Revenue Marketing. The Revenue Marketing Index can help marketers transform marketing into a revenue center, not a cost center, thus the ideal starting point for a company’s forward momentum through Revenue Marketing.