Revenue Performance Management
In many organizations, the sales department is being superseded by revenue teams supporting within the organization, a super-set of traditional sales functions that includes not only those involved in gaining new customers, but also those with an increased focus on customer retention, expansion and cross-sell aimed at existing customers. In addition, as organizations embrace additional sales channels, whether through more typical indirect sales through partners or via new digital selling channels like e-commerce, revenue management will require an enhanced degree of alignment and coordination. The economics of multichannel selling and newer business models require the need to expand focus and resources beyond new business. This will impact not just sales teams but also marketing, partner management and customer service.
To achieve these aims, leadership and planning will be key. Any time an organization transitions to new organizational approaches and processes, there will be resistance, missteps and potential disruption. A change in the approach of strategic leadership, and in the planning, monitoring and real-time adjustments via sales or revenue operation teams is essential. Revenue-driven organizations must manage operations with performance demands in mind and ensure consistent results every quarter, month in and month out. Revenue leaders need to implement processes that support overall strategy and growth, and also optimize both sales professional talent and the selling experience needed to achieve expectations.