Aka: Revenue Strategies - the Foundation for CRO Success
In a recent confidential interview, a CEO shared his thoughts about the next 12 months: "We believe we will achieve our revenue and profit goals over the next 12 months with our current resources. We have the right team, the latest software and tools, effective processes, remarkable products & services, strong branding and a unique value proposition." He went on to admit “… but we are not achieving our revenue and profit goals and we are still unsure why.”
The proper revenue strategy aligns marketing, sales, and customer experience teams around a singular goal: drive profitability. Without a strategic roadmap, healthy and sustained growth simply cannot flourish, which is why organizations put so much emphasis on the planning process. In fact, studies reveal that tightly-aligned sales and marketing functions result in an average of 36% higher customer retention rates and 38% higher sales closing rates, than their more loosely aligned counterparts.
Unraveling such a puzzle to understand what is ‘broken’ has us first visiting the revenue strategy. Choosing a revenue strategy impacts all other aspects of planning and whether goals are achieved.