Applying “Revenue Science™” doesn’t require software, hardware, large consulting projects or complex digital programs with processes only a few understand.
“Revenue Science™” is a team sport based on an aligned game plan with metrics and a commitment to continuous improvement. Anyone who is committed to winning and doing the work can survive and thrive, with a budget near zero. So why does everyone look for the “easy path” from a service provider who cashes the check and moves to the next organization without any long-term positive improvement on profitable revenue.
Here is a small list of those “easy path” things people buy instead of leaning and applying “Revenue Science™”.
Mailing lists
Mailing campaigns
SEO
Farming strategy
Cross selling training
Up selling models
Key Words
Lead Generation
Outside calling
CRM
Sales Training
Marketing support
Message development
Brand management
Bread Strategy
Big Data
Account strategy
Negotiation training
RFP outsourcing
Channel Management
Channel software
Selling videos
Webinars
Direct mail
Billboards
Coupons
This is like people who buy late night TV medical products, lots of supplements, keep a medicine cabinet full of expensive prescriptions, have 3 health club memberships (use none), a basement full of workout gear, fitness watches and of course subscriptions to 3 or more get healthy magazines, when all they need to do is eat right, walk, get enough sleep and laugh.
When people choose “easy path” decisions for health they get side effects. They get unintended drug interactions and exercise programs that injure body parts they were intended to improve.
“Revenue Science™” says the “easy path” is called the “Cost of Chaos” to produce revenue. In business, the “Cost of Chaos” is between 10 and 40% of the topline. That chaos only contributes to staff frustration and building an anchor that holds down the growth of the company.
Sales people seldom sell 5 hours A WEEK and normally closer to 1 hour. Look at these purchased products and services which are aligned to nothing yet require a lot of time. Not only do they cost a lot but they eat everyone’s time and focus. These take time to learn, time to test, time to implement, time to figure out why they are not working and time to find the product to replace the product that doesn’t work.
After asking thousands of CEOs and business owners if they have CRM – 2/3rds will say yes. When asked how many are on their second or third because the first one didn’t work 2/3rds are willing to say they are on at least their second.
That means about 44% of CEOs admit they have tried CRM multiple times with little or nothing to show. They have invested millions only to increase the “Cost of Chaos” and they keep doing it. If we reviewed the success of sales training, SEO, ad programs and Brand management the results will be very similar. Because they are not part of a “Revenue Science™” based strategy.
Why is it that the health of your person and your business is within your control by just applying known practices and science that costs little or nothing to learn and deploy yet there is continued spending on “easy path” stuff.
The answer that no one wants to hear is health (personal or business) is about commitment to known science, discipline to deploy, aligned metrics and doing continuous improvement to get the best possible outcomes for the available resources in the short-term and for the long-term.
Those “easy path” products, services and tools can be very important. They can be very important after the commitment, discipline metrics and continuous improvement are in place. Once the free stuff is in place the question is which of those “easy path” things we should spend money on because they are aligned to the “Revenue Science™” and produce more profitable revenue than they cost.
Continuous improvement keeps those “easy path” things we do spend money on producing more profit than they cost. It keeps those things we spend money on helping the team focus and succeed instead of distracting and slowing them down.
For the good of your medical and business health learn and apply the science, align it to your strategy, develop meaningful metrics, commit to continuous improvement and don’t get side tracked throwing money at “easy path” chaos.