Market View
Beyond MQLs: Reframing success in B2B marketing
Sponsored by:
Produced by:
Nick Washbourne
Commercial Director at Force24
Market View
Beyond MQLs: Reframing success in B2B marketing
Sponsored by:
Produced by:
Nick Washbourne
Commercial Director at Force24
About Nick Washbourne
Nick Washbourne is the Commercial Director at Force24, a role he has held for nearly a decade. With over 15 years of experience in online marketing and data analysis, Nick leads a team of marketing automation experts dedicated to crafting effective, personalised, and data-driven campaigns. His strategic leadership has driven value and results for diverse clients such as Worldpay, BBC Children in Need, and Michelin. Nick's innovative approach to integrating sales and marketing functions has positioned him as a thought leader in the evolving landscape of B2B marketing and revenue generation.
How has the shift towards account-based marketing (ABM) influenced your approach to B2B marketing, and can you share an example of a successful ABM campaign?
We've definitely seen a significant shift towards account-based marketing (ABM) in recent years. While the concept isn't entirely new, its prominence has grown substantially. At Force24, we've embraced this approach wholeheartedly, focusing on a specified list of accounts that represent our target market and ideal customer profile.
In our ABM campaigns, we've concentrated on larger businesses within our key verticals. Using tools like ZoomInfo and Cognism, we obtain multiple contacts within these organisations, giving us access to a wealth of data. We typically target the decision-making unit for our products, which usually includes the Head of Marketing, Head of Sales, and Financial Director.
One of the key tactics we've employed is tailoring our messaging to specific personas within these roles. We've structured our email journeys so that peers speak to peers: FD to FD, Head of Marketing to Head of Marketing, and so on. This approach has significantly enhanced engagement, as professionals tend to respond well to communication from their counterparts.
While we're still in the early stages of this strategy, we've already seen improved engagement and results. The peer-to-peer aspect, in particular, has been critical in boosting the effectiveness of our email marketing efforts.
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We've structured our email journeys so that peers speak to peers: FD to FD, Head of Marketing to Head of Marketing, and so on. This approach has significantly enhanced engagement.
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It's essential to have a strong head of marketing who can effectively bridge the gap between sales and marketing. This role provides a constant feedback loop on the quality of MQLs.
You mentioned MQLs, MSQs, and revenue as your top KPIs. How do you ensure these metrics accurately reflect lead quality and potential for conversion?
While we track Marketing Qualified Leads (MQLs) and Marketing to Sales Qualified Leads (MSQs), our primary focus is on revenue. The most crucial metric for our marketing team is the annual revenue from deals per month. When reviewing our board reports, we're looking at how many opportunities convert to revenue and their origins.
To ensure the quality of our leads, we closely monitor the cost of acquisition for each of our marketing initiatives. For our Inside Sales Representatives (ISRs) or Business Development Representatives (BDRs), we measure their success based on the revenue they generate monthly, which includes the number of accepted and booked meetings.
It's essential to have a strong head of marketing who can effectively bridge the gap between sales and marketing. This role provides a constant feedback loop on the quality of MQLs, ensuring that we're not just hitting numbers but generating high-quality leads that have a real potential to convert.
You've highlighted the trend of combining sales and marketing roles. How has this integrated approach benefited your organisation, and what challenges did you face in implementing this model?
The integration of sales and marketing roles has been a game-changer for us. In my role as Commercial Director, I oversee both sales and marketing functions, which was quite rare a few years ago. This convergence aligns perfectly with the increasing integration of sales and marketing technologies.
One of the key benefits we've seen is the creation of a self-sustaining feedback loop. For instance, our Head of Marketing also manages our SDR teams, which provides immediate insights into lead quality and sales effectiveness. This structure naturally enforces a quality check and enhances our pipeline to revenue process.
The main challenge we faced initially was overcoming the traditional mindset of sales and marketing operating as separate entities. There was often an underlying tension between the two departments, with sales wondering why marketing wasn't delivering the leads they needed, and marketing feeling undervalued.
Implementing this integrated model required a shift in perspective and a willingness to break down silos. However, the results have been worth it. We now have complete harmony between these areas, leading to more efficient operations and better overall results.
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The integration of sales and marketing roles has been a game-changer for us. This convergence aligns perfectly with the increasing integration of sales and marketing technologies.
Looking ahead, what key trends do you see shaping the future of sales and marketing collaboration, and how are you preparing for them?
I believe we're going to see even more integration of sales and marketing functions in the coming years. The role of Chief Revenue Officer (CRO), which oversees all aspects of revenue generation including marketing, sales, and customer service, is likely to become more prevalent.
Technology will play a crucial role in this integration. We're already seeing advancements in tools that enable more effective account-based marketing. I envision investing in data tools that feed directly into automation engines, providing insights from good customers and seamlessly connecting with platforms like ours.
Another trend I'm excited about is the potential of generative AI in content creation. While we don't solely rely on it, it's proving to be an excellent foundation for new content. However, it's important to balance this with fresh thinking and original ideas.
To prepare for these trends, we're continually refining our own platform to facilitate better integration between sales and marketing functions. We're also exploring ways to mechanise our sales process further, developing sales playbooks that create business cases delivered in sales rooms.
Ultimately, the future of sales and marketing collaboration lies in creating a continuous feedback loop that incorporates insights from all revenue-generating functions. This approach ensures that value stories from customer service are fed back into marketing, allowing us to target the right contacts, close deals effectively, and demonstrate real value to our clients.
About Force24
Force24 is a leading provider of marketing automation technology based in Leeds, United Kingdom. Established to empower marketers, Force24's platform simplifies the creation and execution of personalised, data-driven marketing campaigns. The company offers a comprehensive suite of services, including creative assets, campaign management, and measurement, all within a user-friendly interface designed for marketers rather than technologists. Force24's commitment to innovation and strategic growth has earned them industry recognition, including an award for Highly Commended Marketing Automation Vendor in 2019.
About 6sense
6sense is on a mission to revolutionise the way B2B organisations create revenue by predicting customers most likely to buy and recommending the best course of action to engage anonymous buying teams. 6sense Revenue AI is the only sales and marketing platform to unlock the ability to create, manage and convert high-quality pipeline to revenue. Customers report 2X increases in average contract value, 4X increases in win rate and 20-40% reduction in time to close deals. Know everything, do anything, with 6sense.
