The Revenue Acceleration Model: A New Way to Think About Marketing and Sales
Whatever your business objective, the ultimate aim of every organization is to gain revenue. To accelerate revenue, an organization needs to streamline its customer’s buying journey and make it as personal and authentic as possible. But often, organizations end up having different go-to-market teams aiming toward individual goals. Revenue Acceleration helps you unite them behind a shared objective. This optimizes how you engage with buyers and move them through the buying journey, as your employees will collaborate to produce a seamless conversation for buyers.
Conversational marketing and conversational sales are essential to increase revenue, shorten sales cycles, and strengthen your brand. While conversational marketing creates instant and personalized engagement with customers and buyers, conversational sales build credibility and trust with buyers and convert them into customers.
Revenue acceleration combines conversational sales and conversational marketing to unite your go-to-market teams to create connections with buyers in real-time and deliver personalized customer experiences. If implemented in the right way, the revenue acceleration model will monitor every level of the customer journey. This will help you transform your organization and witness a new era of business growth. Here are five stages that you need to cover for the revenue acceleration model:
Stage 1 – Interact with the visitors to your website.
These days, most online businesses fail as they are unable to give the needed attention to their website visitors. Unlike in-store businesses, where customers get complete guidance and attention, online companies cannot completely connect with potential customers. Website visitors often fail to navigate to the desired page and leave your website for brands with easy-to-navigate websites.
Moreover, with digital marketing, it gets challenging to filter information and connect with high-intent visitors. Marketers also miss the opportunity to motivate visitors to make the first move as it gets difficult to understand the right time. But if you are willing to generate revenue, you need to find a way to overcome all these challenges and engage with your website visitors. You need to start a conversation with them and schedule meetings if required so that you can build a long-lasting relationship.
Stage 2 – Focus on prospective buyers as your target audience.
In an attempt to generate more leads, organizations often waste a lot of time and money on leads who cannot engage with your brand. Therefore, it is essential to make a planned strategy to target potential leads only. Many marketers lack the visibility to identify potential leads.
Moreover, when you can find the potential lead, it gets easier for you to create a personalized experience for them. These days, buyers rank customer experience over price and product; you need to dedicate time to nurture individual leads. And for that, you need to find out who is worth investing time in. You need to identify where the visitors are coming from and with what expectations. And then align your marketing channels, offers, and messaging accordingly. Ask your sales reps to target high-value accounts and tap into rich data to find out when they are on your site.
Stage 3 – Speed up the sales deal cycles.
Now that your marketing team has insight into your buyer personas, they need to identify the perfect moment to engage with them. You cannot afford to leave any gap in the conversation.
With the latest AI marketing tools, you can augment your sales and marketing teams with it. It helps upgrade conversational marketing and sales by understanding what your buyers want. Yet if there is any gap in the conversation, you need to fix it in real-time by adding a human touch. The idea is to keep building interactions around buyers’ individual needs, desires, expectations, and challenges for a better customer experience. This will save you from wasting time attracting new customers as your brand will engage loyal customers for the long term.
Stage 4 – Enhance customer value and loyalty
For the best customer engagement, marketers need to start nurturing their leads right from their first interaction with the brand. Your customers need to experience a smooth journey with assistance whenever required. You also need to develop the right channel for communication to get consistent support and ask any questions.
To grow customer value, you need to ensure your customers can explore every feature, seize every opportunity, and become dedicated power users of your brand. You can offer them free membership with added benefits to express their value.
Moreover, you need to reach your customers faster for a better customer experience, connect them with the right people, and guide them to the right resources and content. This deepens each customer’s connection with your business.
Stage 5 – Take Customer Engagement to the next level
Remember, retaining existing clients is much less expensive as compared to finding new ones. When we talk about revenue acceleration, you need to make every step possible to reduce avoidable expenses. Thus, it would be best if you focused on renewal and engagement strategies.
If you are unable to meet existing customer expectations and respond to their needs to find a new one, your brand can take longer to generate revenue. Therefore try to hold on to your existing customers with the best possible experience. Higher revenue comes with increased customer lifetime value, for which you need to improve their customer experience and build stronger relationships.
The goal of Revenue Acceleration is to transform customer engagement into an experience that welcomes them to your brand to create a loyal customer and maximize revenue retention. It is all about working more efficiently to drive down your customer acquisition cost and increase customer value. For accelerating revenue, you need to improve both customer experience and optimize processes.
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