A revenue growth system is the process, methodology. And tools needed to create repeatable, predictable, and scalable revenue growth for your business. Increase B2B Revenue in the Digital Age.
Typically, these actions, steps, and processes are performed by marketing, sales, and customer service. Where marketing works to build brand awareness and generate leads. And sales generates new leads and follows up on those generated by marketing.
However, it is very rare that there is also attention given to revenue opportunities within the existing customer base, and month after month, companies are struggling to meet their goals.
Matt Heinz, a respected marketing expert, recently conducted a survey of several thousand CMOs.
He found that 62% missed their company’s most recent quarterly goals, and 58% are on track to miss their goals for the current quarter.
This is consistent with other research showing that about 10% of companies are able to consistently meet their revenue goals quarter after quarter.
It’s clear, then, that there’s something
Missing from almost every business’ revenue generation efforts: a revenue growth system.
A revenue growth system ensures that all three of the above teams—marketing, sales, and customer service—are working together to coordinate the activities needed to help the business grow revenue.
A revenue generation system includes all the steps needed to ensure that the business isn’t missing out on anything needed to grow the business and should cover the following four areas:
strategy
tactics
campaigns
technology
Today’s prospects are faced with an overwhelming amount of information and content.
By focusing on strategy, tactics, campaigns, and technology, the b2b revenue generation system works to cut through the noise and deliver a clear, cohesive message to prospects that will drive them to take action and engage with the business.
Where to find a revenue generation system?
There are two main ways to get a system that helps your b2b business grow revenue: build it or buy it.
To build it, you need to know all the elements to create the system within your business.
The second option is to buy: it is important to clarify that, since it is not a software, it is not enough to just enter your credit card details and buy the system.
What you can do, however, is to work with companies that teach you a proven system, help you install it, test it and optimize it, and then train your employees, working side by side, to fine-tune it over time so you can reach your business goals faster.
What should you look for in a system to increase revenue?
There are some very specific components of a system of this type that should be considered. Therefore, if you are looking for or want to build one.
The main thing to check is that the system covers the four areas we mentioned above. However, strategy, tactics, campaigns and technology.
Research shows that 87% of business programs lack a comprehensive strategy. For instance, which means that some elements are missing entirely or are too weak to be effective.
Let’s look in more detail at the key sub-elements to look for in each of the main areas:
Buyer Persona
This is a detailed description of who you want to attract to your business, a representation of the ideal potential customer.
This description includes demographic and psychographic details, so you can fully understand where and how potential customers get their information.
increase revenue
Defined story and message
With these elements, you attract the attention of potential customers, making them feel involved and passionate about the company’s story, which must be emotional, compelling and easy to understand because when people land on the website, the time available to convince them to click and learn more is only 10 seconds.
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Differentiation
People will want to know why they should do b2b email list powder business with your company rather than your main competitors.
If your story isn’t compelling, you risk losing the opportunity, especially if your competitors are cheaper.
By clearly articulating what makes your company bz lists great because no one else has it, you can command a higher price and close deals more often.
Buyer’s journey mapping
Customers no longer buy as they once did and it is essential to know exactly how they make their purchasing decisions, down to the smallest detail.
The better this aspect is documented and understood, the better you can tailor marketing and sales activities to influence potential customers to choose the business.
Goals and Expectations
Strategy must be rooted in the objectives of the business.
How fast do you want to grow? In what size? Are these numbers achievable and, if so, over what timeframe?
If you say that this year you want to achieve 20% more turnover than last year, you will only be able to achieve this result if the rest of the execution will be aligned.
Investing
Investing in growth must be aligned to expectations and you need to take into account the fact that a 20% growth target will cost more than a 5% one.
It often happens that the budget and targets are not aligned, while they need to be to ensure adequate investment to finance the desired growth.
