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.
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.
Do you have the right foundation for advisor engagement?
We break down the resources and systems that asset management firms need for effective advisor engagement into four categories:
These four resource categories make up what we call a “revenue system”. They form the foundation for advisor engagement and sustainable revenue execution. These resources need to be in place at a sufficient level of maturity to enable revenue teams to attract, nurture, deepen and expand advisor relationships and convert asset management sales. Yet few asset management firms have the right mix of capabilities across these categories. Brand channels and communications, messaging and voice are often not competitively distinguished and consistently communicated. The organization and talent approach is often siloed, creating disjointed advisor engagement for self-directed advisors and revenue processes are not “closed-loop” where marketing activities and programs are tracked through sales, informing what’s working and how to re-shape program tactics. Finally, technology systems are often not fully integrated, thereby resulting in poor data quality and less-than-ideal automation effectiveness.
Today’s advisor lifecycle experience is fluid and self-directed. Messages and experiences must be consistently delivered across marketing and sales. Leaders recognize that marketing and sales teams come together to manage non-linear advisor journeys. So, what are the resources required for an effective revenue system?
We break down resources into a checklist of four systems categories for world-class advisor engagement.
Brand
Pervasive experiences, impressions and visual communications that reinforce a differentiated position.
People
Organization and talent that bring a holistic understanding of the integrated front office and teamwork.
Processes
A continuous closed-loop process that eliminates “marketing” and “sales” language in favor of a revenue-focused approach and process.
Technology
Marketing and technology stack that includes applications for marketing, sales and data management.
We define Revenue Systems as the foundation for sustainable revenue execution. Revenue Systems include brand, people, process, and technology that enable marketing and sales. These core capabilities help attract, capture, deepen and expand relationships. Assuming the right strategies are in place, your revenue system provides the platform you need to execute marketing and sales programs and achieve marketing and sales performance metrics.
Some B2B organizations still view marketing and sales as distinct organizations with different skills, and requiring different technologies and processes. While there are distinctions in the role of marketing and sales, today’s buyer lifecycle experience is fluid and must drive the marketing and sales process. Leading businesses recognize that in order to attract and engage these self-directed buyers, marketing and sales teams need integrated branding, technologies and processes. With a Revenue Systems approach, leaders can architect an integrated platform and manage continuous and non-linear buyer journeys.
It’s the middle of Q4 and the end of the year is fast-approaching. For many, it is a time to slow down from work and spend time with family. For sales people, it’s can be a frantic time, as many B2B companies must close sales opportunities to achieve revenue goals.
So, what can the marketing team do to help the sales team and ring in the New Year on a positive note? Here are a few tips to align marketing and sales and help ease the December frenzy and drive some upward momentum into the New Year.
Marketing Automation has been around since the 1990s. Back then, the focus was on automating email marketing— managing the development and delivery of emails to target lists at scheduled times. Over the decades, software developers expanded the capabilities of Marketing Automation to meet the requirements of a variety of marketing functions and users.
Today, Marketing Automation refers to a broad range software technology for marketing and it is an important element of closed loop marketing. Its evolution has raised many questions about what it is, what it does, and whom it benefits.
It’s all about the customer. Cultivating and managing your customer relationships is essential for effective marketing campaigns, sales, and repeat business. But when your contact list becomes unwieldy or you find that several people within your company are reaching out to the same contact, you know you need to get organized. Customer Relationship Management (CRM) programs enable you to respond to your customer base with timely communication, targeted marketing campaigns and strategic follow up.
My Pet Peeve: Email ThreadsHow often have you needed to check a customer detail that was in an email thread you received days or weeks ago? You’re hustling to get to a meeting and just can’t find that all important message.
CRMs centralize, store and organize detailed customer data and history logs for easy reference. Help your salespeople improve their effectiveness by sharing information with your team or designating members to manage a particular lead or customer.
It has been well over a decade since the digital revolution went mainstream. However, according to Google, 55% of small businesses don’t even have a website. The vast majority of those that do, have a website that lacks key features necessary to make digital a revenue generating channel. A common reason for this lack of focus is the belief that real business comes via traditional channels like referrals.
The problem is that referrals are heavily influenced by digital channels. Your client base needs to know exactly what makes you great and be energized to make a referral. Digital channels provide the necessary energy. A well thought out digital strategy is vital to guide the referral process.