Revenue Growth opportunities are ever-present in your business, which will help you continue to improve the efficiency of your operations and keep your company growing. However, you will need to implement a revenue growth platform to unlock these opportunities. In fact, reports show that the right revenue growth strategies can help improve your profits by up to 20% or more. And to do so takes just 3-key strategies or components, which we will look at next.
3 Key Components of a Revenue Growth Platform
A firm’s people must be up to par to successfully carry out any growth strategy that you implement. Therefore, a continuous commitment to creating such an infrastructure should be foremost in your goals. As a revenue growth-focused business, three main divisions affect your objectives: marketing, sales, and customer service. Hence, you should support each division’s specialty while also encouraging them to work together towards the common goal, which creating a Revenue Operations Team comprised of all divisions can help you do. This way, your central departments are all working to improve the core business, as well as customer growth, including identifying products, customers; and channels that generate the largest portions of revenues and creating innovative high-impact value positions to attract new customer segments and meet new customer demands. In the meantime, be sure that each department contributes equally to the success of the revenue growth strategy; so that no one division feels it is less important than the other. You should also create an evaluation system for your Revenue Operations Team that reinforces the value of both individual and group performance.
You should also work with your team leaders to create a data-sharing process that empowers each division; ensures the collaboration of your Revenue Growth Group. It is also important to establish one CRM platform that each department can add to and reference. There also needs to be an evaluation process for your marketing content to learn which campaigns generated the most conversions and which type of leads make the best targets. It is also necessary to provide ongoing feedback to your marketing and sales divisions to help improve their processes; which are the core of your business’s growth and success.
Technology can also be leveraged to enable the collection of high-quality data for easier customer follow-ups; new leads targeting, and seamless data sharing. In fact, revenue growth technology, such as the SharpSpring Revenue Growth Platform, includes everything from CRM to marketing automation tools to campaign tracking and more for a one-stop hub of information that can be utilized across all your departments for greater collaboration and efficiency that’s sure to be reflected in your sales results.
So there you have it. If you want to create a successful business or resurrect a not-so-high-performing one; then the best place to start is from within with revenue growth strategies that improve upon all your core processes. And continue to analyze your efforts and improve upon them as needed for continued growth.