Revenue Performance Management is rooted first and foremost in clearly understanding buyers’ interests, motivations and goals from the earliest stages of awareness through to purchase, account growth, and advocacy of our solutions. Buyers are motivated, or triggered by internal events at their company, guided by conversations with their peers and influenced by chance discovery of information.
As marketers, we can, at best, ensure that the best possible content for inspiring action, changing mindsets and spurring change, or overcoming objects is in place, and likely to be discovered by the appropriate prospect. The next step is understanding and reading between the lines from an analytical perspective. When you observe buyers you may glean information and start to piece together a unique buying process and, thus, model your marketing and sales efforts to optimize conversion rates and revenue growth.
There is a general structure to the buying process that can be used as a framework to tailor unique structures tailored to your organization.
- Awareness and Education
- Investigation
- Solution Validation
Revenue performance teams must work to ensure that buyers do not stagnate, or drop out at any specific stage of the buying process. This should be approached by carefully observing your win-loss rates at all three stages of the process. At each stage ask yourself and your team: Is there a problem? What is happening currently? What are the Options? These questions will help to facilitate a lively brainstorming session meant to optimize your company’s revenue performance.
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