Revenue Management is a new business imperative to ensure a sustainable business model
Our decades long expertise in sales, marketing, customer success and subscription management technology and best practices are complemented by on-going buyer and vendor to research to bring insight and recommendations for suppliers and customers. This unique cross functional insight is crucial to understanding the importance of how new business models, such as subscription and digital commerce are forcing a rethink of managing all sources of revenue.
Driven by new business models, such as subscription based recurring revenue as digital commerce are driving a new approach to managing revenue. Companies should no longer focus purely on new business, but should apply equal weight to customer retention and expansion. Revenue Management is the alignment of Sales, Marketing and Customer Success to achieve unified revenue targets.
Only 10% of organizations have established the revenue management leadership and function to unify the resources and plans for operations across all marketing and sales efforts.
Leadership needs to drive alignment across sales, marketing and customer success to ensure that teams recognize the importance of coordinated efforts. Technology should support these cross-team efforts, not reinforce silos of data and activity.
Revenue management is as much a philosophy of management as it is technology. Organizations will need to reprogram themselves to ensure that the traditional focus on new business at all costs needs to change and recognize the important of the customer experience and plan resources and technology appropriately.