Marketing performance is the focus of pretty much most Chief Marketing Officers (CMOs), and with budgets getting tighter and resource pools pretty stagnant we’ve been turning to marketing technology to improve of efficiencies and results.
Marketers are under pressure to build complex revenue models to understand if their campaigns are actually driving Marketing ROI or not, and we are all too familiar with the spreadsheet template to forecast results. But proving the model need not be so complex, that’s where Marketo Revenue Cycle Model (RCM) comes into play — that of course being subject to you having the tool!
Marketo Revenue Cycle Modeler is a feature of the Marketo Engage platform that helps marketers communicate to C-Suite, sales leaders and other stakeholders the impact of Marketing in commercial language. Demonstrating insights into the customer journey, customer experience and offer area for improvement.
When we think about customer journey we often think of something drawn on a whiteboard and something that we don’t know sufficient detail about. Marketo Revenue Cycle Modeler puts your hard work on customer journey mapping into practice.
Revenue Cycle Model are built up of a range of stages that follow the “path to success” which is the green line on the screenshot to the left. Revenue Cycle Models are built from three key elements:
The important part here is that all of these stages are build from data points stored within Marketo, and Revenue Cycle Modeler allows you to build your personalised customer journey.
Once in place Revenue Cycle Modeler allows marketers to build live customer journeys and identify pain points or corrections that are required to enhance the customer journey. Just a few benefits are: