Don’t Forget Your Customer in Your Revenue Performance Management Strategy

MPH, RPM, Revenue Performance Management

Does your company have an RPM? Nah, we aren’t talking about automotive Revolutions Per Minute or real-estate Real Property Management, but Revenue Performance Management. Throughout your marketing processes, what is your strategy for driving real sales growth? How do you quantify and optimize those processes?

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 appeal 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.
(Retrieved from High Performance Marketing for Revenue Performance Management, September 4, 2012. http://ezinearticles.com/?High-Performance-Marketing-for-Revenue-Performance-Management&id=7251839)

Your sales cycle includes (a) prospecting or initial contact, (b) sales lead/building rapport, (c) identifying and assessing needs, (d) delivering persuasive presentations or proposals, (e) overcoming objections/negotiations, (f) closing the sales and getting repeat sales, and (g) 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.

Measuring volume-based metrics is not an easy process. Somehow the customer gets lost in the process of your repeatable strategy and all too often it is difficult to “buy” loyalty from a customer lost in the shuffle of the system. Optimize interactions with your customers, avoid wasting resources and missed opportunities. Ethically, you want to give customers a say and make their customer experience so exceptional that it leads them to become your company’s advocates/evangelists, which will lead to your revenue performance progress.

People Who Believe in Ideas

an-idea-isnt-responsible-1024x767
Image Source: http://www.exaltus.ca

“An idea isn’t responsible for the people who believe in it.”
– Don Marquis

Ideas pop up all the time, whether they appear to be good or not so good. Yet, in order for an idea to become reality, those who believe in it will work tirelessly to make it happen.

You Don’t Do Marketing. You Live It.

Marketing, Creativity
CREDIT: Getty Images
And that means everything is a part of your campaign…

I talk to a lot of businesses that don’t know what they’re doing to market themselves. Actually, scratch that. I talk to a lot of businesses who can’t tell me what marketing is in the first place. To their minds, it has something to do with social media or videos or advertising or calling people to hiring more sales folks or writing blog posts but they’re just not entirely sure…

…and that’s why they’re blowing it.
It’s not that their marketing isn’t working, it’s that they don’t really understand what marketing is, or how it works, or why it works, or anything else. It’s pure chaos, and it’s pure failure just waiting to happen.

Here’s the key to this problem. Marketing and advertising are actually pretty easy concepts to understand. They’re any activity that puts your business in front of the people who pay your business money. It’s really that simple. When you speak to anyone in your target demographic about your business, you’re marketing it. When you write a blog post. Record a video. Change your…Continue reading

Article source: https://www.inc.com/jon-westenberg/marketing-is-any-activity-that-exposes-you-to-your-audience.html

Real Estate Innovation: Don’t Gamble On Circumventing Your Competition

Real-Estate-Gamble

Incremental or Disruptive? What innovative methods are better or more suitable for your firm? What measures of innovation have you applied to your real estate business to keep it relevant, and competitive?

Real estate is one of the remaining industries yet to be greatly affected by radical/disruptive innovation (disrupting and displacing established alliances, leading firms, methods or established services and products). However, get ready because that could be changing sooner than you think.

While many companies want decreased risks (who wouldn’t right?) do not be deceived by the lack of current aggressive innovative tactics that could leave you in the dust. Real estate is one of the most highly competitive industries in this country and your organization’s strategy is key to igniting robust development. Will you fight or circumvent your competition?

Firms that implement incremental innovation enhance or upgrade a little bit at a time. Incremental innovation is just a start to keep you from being caught completely off guard when radical innovation invades your industry. Align your forces and business culture to introduce something new and different. Don’t compete or fight for market share, but become the dominant player with radical innovation. Leadership and people cannot miss out on massive opportunities by doing nothing because nothing earth-shattering is happening yet.

 

Why Is Digitization Such a Big Deal?

Digitization, Innovation, digital

Every day we discover that the nature of work is being disrupted by digitization. This technological outcome is found in the enterprise of mobile application, content and mobility management. Digitization, the process of converting analog information into a digital format is transforming every company, with agility and speed.

People worldwide have access to digitized text mixed with images, and audio combined with visual. Information is more accessible through exponential thinking and all levels of the collaborative nature of digital.

Markets are rapidly evolving, and by mastering a few new technologies you can keep your organization’s infrastructure current. There is no single principle that applies to digitization and businesses who want to continually redefine their company. Some of the most important technologies for the best digital outcome include Cloud-based solutions, privacy and security, content management, reliability, mobility, social networking, analytics and big data.

There are huge benefits to digitization such as lowering operating costs, better scalability, straightforward exchanges of information and responding to the fast-changing needs of end-users with enhanced productivity. The digital revolution is here and is transforming the way we do business for the future. Digitization is harnessing innovation.