The focus for Revenue Operations is aligning and optimizing revenue-generating functions to achieve business objectives. This strategic function helps align and optimize the activities of sales, marketing, and customer success teams to drive revenue growth.

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Number Crunching

The cost of a website is a bit like the cost of a car. You can spend $5,000 for a ‘get around town’ car, $75,000 for a luxury vehicle, or millions for a transportation fleet!  With today’s open-source platforms like WordPress and with a vast array of design templates, a business can deploy a professional responsive website for $10,000-$20,000.  With professional help and custom design elements, a site can cost more of course. A website is so vital, I think most companies should invest more into the design and ongoing management of a website.

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Collaborative Qualification

Post originally published in 2014

We have written a few articles about collaborative qualification and how to select and apply the right sales qualification tools  – including SCOTSMAN and BANT. These tools are quite familiar to B2B sales and teams that focused on a considered sale.  Yet, we see some challenges:

  • As clients are self-selling on websites, they will pre-qualify (assuming they find buying content on the website). This changes the role of sales-led qualification.
  • BANT is a proven model, but  the focus is on qualification from the seller perspective, it works better to qualify OUT the opportunity rather than qualify IN the opportunity.  It does not help build a collaborative relationship with the client. It is confrontational.
  • SCOTSMAN is another great model as it offers a  nuanced approach, but it is hard to remember each of the elements in the mnemonic on the fly. Sales reps may need to pull out a cheat sheet which can be difficult in the heat of the moment. ( See our other post on BANT and Scotsman to learn more. )

So what is the right approach to sales qualification? We suggest a collaborative approach using FACT.

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Chief Revenue Officer

The CRO is Responsible for Predictable and Sustainable Revenue Growth

This post is updated. It was originally published in July 2016

Today, companies recognize the need for a company-wide revenue focus and a more integrated approach across marketing and sales. The CRO oversees the traditional responsibilities of the VP of Sales and the Chief Marketing Officer and is a member of the senior team overseeing go-to-market strategy and execution. The CRO is  responsible for aligning company resources, defining differentiated go-to-market strategies and delivering on the company’s revenue performance goals.

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Revenue Technology

Originally published in 2013

An effective revenue architecture takes advantage of a range of leading marketing automation and sales enablement technology solutions. Cloud solutions make some traditional evaluation factors – like technology infrastructure management and application maintenance – less important in selection, yet functional and vendor considerations remain critical.  It is easy to instantly provision cloud solutions and free trial offers often lead to snap decisions. However, a lot of operational disruptions occur from the selecting the wrong solution. Despite being easy to turn on and off from a technical and economic standpoint, the operational impact to a business from migration of data along with organizational disruptions is significant.

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Professional Selling

Build a technology platform to support your go-to-market strategy.

 

We recently published an enhanced edition of the Financial Advisor SMART BOOK. This resource is a comprehensive guide to help independent financial advisors build an ‘independent difference,’ that is, a strategy-led, systematic growth program with 9 proven strategies. The goal is to help advisors:

  • Increase Volume: Generate More Visits & Inquiries
  • Increase Client Value: Get Better Qualified Inquiries
  • Increase Velocity: Increase Conversion Rates
  • Increase AUM and Revenue: Optimize Engagement for AUM growth and Revenue Impact.

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Consider Revenue Architecture When Selecting Your Tech Stack

Face it, buyers don’t care whether they are interacting with your marketing or your sales organization, they follow their buying process – often in an unstructured and unpredictable way. They self-sell on the web,  research with influencers, and engage 1:1 with salespeople.   An effective buyer experience across a dynamic buyer’s lifecycle requires that your revenue architecture is designed with a coordinated closed-loop process supported by an integrated technology stack.

We read a lot about Martech and SalesTech stacks. This is understandable because marketing and sales teams have traditionally pursued distinct missions with different needs. Yet if your marketing, sales, and service “front office”  needs to be more integrated to support dynamic buyer pathways, you might need to re-think your technology stack.  An integrated revenue process supported by integrated revenue technology helps deliver a single view of the customer and becomes more responsive and relevant as your buyers jig and jag along their dynamic buying processes.

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