High Performance Marketing for Revenue Performance Management
By Kym Gordon Moore
How do you measure the performance of a special project? What do you do with the results from those measurements? When researching the phenomenon of those numbers, what do they convey and how do they affect your revenue? Do you use revenue performance benchmarks to track the progress of your sales and marketing activity?
Revenue Performance Management (RPM) appeals to a company’s marketing initiatives, because it validates their activities, projects, contributions and shows active revenue generation. RPM helps management evaluate sales and marketing activities in real time. They are able to measure the reach of activities, the pipeline value, customer spending and how marketing activities appeals to consumers’ emotions. This method leads to conversion, which is an important component to sales and marketing. Conversion shows revenue performance progress through each stage of your sales cycle.
A sales cycle includes the following variables: prospecting or initial contact, sales lead/building rapport, identifying and assessing needs, delivering persuasive presentations or proposals, overcoming objections/negotiations, closing the sales and getting repeat sales, follow-up and referrals. Management is able to evaluate how much time is taken in each stage of the sales cycle, their return on investment from sales and marketing activities, how to improve forecasting and reviewing stage-by-stage analysis for continued revenue growth.
The dynamics of a company’s revenue cycle applies the right resources for tracking performance targets, adjusting forecasts, evaluating conversion rates and other key metrics. Even in the midst of an ever-changing market or industry, companies can outperform their competition through investment in time managed planning, high performance tactics and consistent revenue generation.
Kym Gordon Moore, author of “Diversities of Gifts: Same Spirit,” is an award winning poet, author, speaker, philanthropist, certified email marketing specialist and an authority in strategic marketing. http://www.kymgmoore.com She is co-founder of Favorite Things for a CAUSE http://www.favoritethingsforacause.com and was selected as one of the 2012 U.S. World Book Night Volunteer Book Givers.