What is Revenue Acceleration?
Revenue acceleration is a potent alliance between marketing, sales, and customer success to achieve exponential gains in revenue. It’s practices align a single organization’s marketing, sales, and success teams around a core set of common goals, shared data, and consistent messaging to ensure that the three teams support one another to rapidly grow revenue and drive success.
Revenue Acceleration is a Feedback Loop
Revenue acceleration is a high-speed feedback loop that simultaneously gathers data, informs success, and provides feedback. Therefore, it relies heavily on shared data between sales, marketing, and success teams. Each team must understand and track how their actions impact overall progress, as one another. This is tracked through shared platforms and tools.
Revenue Acceleration for Marketing
Marketing uses sales and customer data to understand why customers buy and what makes them successful. That way they can create better messaging, and find ideal customers.
Revenue Acceleration for Sales
Sales uses marketing and customer success data to understand why leads are interested, and ultimately the value that they receive. This helps them craft better pitches, have more informed and valuable sales conversations, and close more deals.
Revenue Acceleration for Customer Success
Customer Success takes data from marketing and sales to understand the value that customers are looking for, the problems they are trying to solve, and to get better messaging for upsells and cross-sells.
To achieve this revenue acceleration loop, organizations need to have several key components in place.
Shared data platforms
Teams can no longer have individualized data silos. The information must be freely shared and discussed. While it’s fine for groups to have specific information for themselves, key datapoints must be openly and freely available. Moreso, they must be used, examined, and acted upon by everyone.
To be effective, teams must understand exactly what metrics are directly related to their success. In a revenue acceleration plan, these metrics are specifically tracked, and each party needs to understand exactly how to impact them.
One of the cornerstones of a revenue acceleration strategy is that there is consistent messaging from the initial lead capture, all the way through retention. This means marketing, sales, and customer success should all work collaboratively on how they sound, what they say, and ultimately the value proposition that they deliver to their customers.
Although the data may be shared, each team must be completely accountable for the specific metrics that they drive. Since all the teams are now linked, everyone needs to know how to accomplish their goals
Ability to act
Each team must have the ability to respond and react to the findings that they glean from their data. It is not true revenue acceleration if adjustments cannot be made to actually accelerate revenue. Lessons learned from cross-departmental data are extremely powerful but must be acted on to have a true revenue acceleration plan.
AI for Revenue Acceleration
AI is a powerful new component that can be added to revenue acceleration strategies. Artificial intelligence can analyze data, recognize patterns, and provide information far more efficiently than humans. Teams can then use the insights provided by AI to better inform their strategies to see even greater revenue growth.