Know your customers
Positioning yourself as the solution to your customer’s needs is central to effective revenue performance management. To achieve this you need to understand your particular customer-base completely.
This vital insight covers several key aspects:
- A specifically identified target market
- An understanding of that market’s priorities and levels of discretionary income
- An understanding of that market’s core values, wants, needs and desires.
With this data in hand, you can create marketing campaigns and materials and a business presence that speaks directly to your target market. Combined with inbound marketing, you can utilise this customer insight to create clear, appropriate pricing points to maximise your revenues while providing customers with value-added service.
Analysis creates opportunities to improve
Without analysis your revenue performance management isn’t worth much at all. So ensure that you undertake regular analyses of revenue performance management to strengthen, develop and deepen your revenue streams. Add to this by investing in specialist knowledge and skills to stay ahead and establish yourself as a leading force in your marketplace.
Revenue performance management: adding it all up together
For effective revenue performance management and to get your inbound marketing and your lead generation working truly in sync, you need to apply all the different aspects at the right time.
Related Resources from B2C
» Free Webcast: Strategic Thinking: Social Media + Social Business Strategy
Investigate the many tools available to you to continually improve on your results. See it as an ongoing process. Revenue performance management for small businesses is about close tracking of important metrics, supported by a consistent analysis of data to shape future growth strategies. Analysis is essential to unlocking new opportunities – and should be enhanced with professional support for maximum impact.
It’s not just the web – it’s your sales platform
Effective web design is just one part of harnessing the internet for effective revenue performance management. Consider how you can use and apply all the different aspects. Industry research shows that it is as much as 60% more cost effective to use online marketing than to rely solely on traditional outbound marketing activities.
Don’t go mobile without going strategic
Only by applying the secrets of effective mobile marketing strategically can you utilise it to create and build a strong and consistent stream of leads and revenue.
Consistent analysis=consistent success
Consistent success in generating leads and revenue requires a close eye on your results, your customers and your competition. Establish a strategy for monitoring and analysing your results on an ongoing basis.
Customers are people – so going social pays
Use the power of channel neutral marketing and crowdsourcing to interact rather than interrupt your prospective customers and build leads and revenue.
Repeat business, repeat business, repeat business
Revenue performance management is nothing without repeat business. So encourage your customers to return by nurturing them with carefully targeted inbound marketing approaches – and never forget the power of a good discount.
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