Common Questions About Revenue Generation:
Why do you call it "revenue generation" strategy instead of sales strategies or marketing strategies?
A revenue generation strategy is a top down, CEO endorsed, companywide, strategy to achieve revenue goals. The sales & marketing strategies are a part of the broader picture. They are not stand alones.
A principle reason for failure to reach revenue goals is that "sales" is viewed as the prerogative of those specific departments. Yet the revenue generation strategy should encompass every aspect of the organization, which should be supporting the strategy. If they don’t, a myriad of circumstances can derail the strategy. For example:
- A CFO creates a compensation model that incentivizes the wrong behavior for sales reps
- A CFO creates terms for establishing an account that negate one of your value propositions
- A shipping clerk fails to recognize that your customer promise included delivery guarantees
- A production manager tries to cut costs on one of your detailed quality components
- A customer service rep talks to a customer and delivers a message that is very different from what they heard from the sales rep
In all of these cases, the employee was trying to do the right thing. However, without participation and an understanding of the overall revenue strategy, their "good deeds" cost the company untold dollars. A revenue generation strategy incorporates everyone, including marketing and sales.
Other common questions
- How many hours a week do most sales reps spend actually selling?
- Can we increase our success with different/better Customer Relationship Management software?
- What is Customer Lifetime Value?
- What’s the difference between a ‘product’ and an ‘offer’?
- How can I increase my return on marketing investment?
- Why do I need a CRO (Chief Revenue Officer) or "CRO Thinking"?
- Why do you call it "revenue generation" strategy instead of sales strategies or marketing strategies?
- Our market is mature; what are the best ways to grow revenue?
- What are the 4 most important Revenue Generation obligations a CEO has to his/her organization?
- What is included in a good sales activity report?
- What should we look for when hiring sales reps?
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