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.

Creativity Works: Innovation lives on the other side of fear

innovation, ideas, creativity, The Tucker, The Morning Call
Image Source: The Morning Call (A replica of the Tucker 48. The man who conceived the Tucker 48, Preston Tucker, was a true innovator who had his ideas rejected, writes columnist William Childs.)
William Childs William Childs Special to The Morning Call        May 23, 2017

What is it about creativity that frightens some people?

Why does anything innovative tend to be met with resistance?

Oscar Wilde once remarked, “An idea that is not dangerous is not worthy of being called an idea at all.” I think that an inherent bias against uncertainty and fear of the unknown is at the core of our trepidation when we get confronted with a new idea. For work to be truly creative and groundbreaking, it must depart from the status quo of what is known or accepted, and that’s where the challenge lies.

Innovation lives on the other side of fear.

You could fill an ocean with all the examples of people who had their brilliant ideas rejected. Preston Tucker, an American automobile designer, and entrepreneur who introduced a brand-new car design in 1948 was one such example. The car was so innovative when it was introduced, it sent the Big 3 automakers into a frenzy. The Tucker, as it was aptly named, was the first car ever to include seat belts. The engine was 150 horsepower with fuel injection and was placed in the rear of the car.

Another Tucker invention was the laminated windshield engineered to pop out during an accident, along with many other safety features. Instead of being celebrated, he was run out of business by unscrupulous individuals who were not ready for his type of forward-thinking.

They looked for any way they could…Continue reading

Article source: http://www.mcall.com/business/tech/mc-creativity-works-innovation-fear-20170523-story.html

 

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

Social Listening: How Brands Can Benefit From Positive and Negative Comments

Social Networking, Social Listening, Social Media, Marketing

Social Listening: How Brands Can Benefit From Positive and Negative Comments
By Kym Gordon Moore

Have you ever listened to conversations without an invitation? “Eavesdroppers never hear any good of themselves” is an idiom many people are all too familiar with. Essentially this phrase means if you eavesdrop on conversations where people are talking about you, more times than not you may hear many unfavorable things spoken about you. When brands read or listen to comments written about them it is not considered eavesdropping. Chatter that is in a social setting is open and not private. Hence, such conversations shift to social listening, as opposed to social eavesdropping.

Brands are doing more social listening as they connect to their audiences. Why? Oftentimes, customers do not feel that companies really listen to them. Sometimes out of frustration, they may post harsh comments that warrant immediate attention. Quite often, other consumers may jump on the bandwagon to fan the flames of negativity. Brands are finding out more than ever that social chatter through social media conversations can help them better understand their customers. Here are 5 beneficial reasons why brands should pay attention to social listening:

1. Social monitoring helps brands to enhance the customer experience. Eye and ear listening skills are used…CONTINUE READING

Article Source:
http://EzineArticles.com/?Social-Listening:-How-Brands-Can-Benefit-From-Positive-and-Negative-Comments&id=9406010

 

 

Colin Lewis: Innovation is the key test of marketers’ competence

OpenJaw Technologies, Colin Lewis, Innovation
Image Source: marketingweek.com

Marketing Week
18 Apr 2017 3:26 pm

We live in an age of technological acceleration and marketers are on the frontline. New ideas, new channels and disruptive technologies appear to be coming at us exponentially faster. The two most commonly cited responses to this rapid product and technological advancement (or indeed obsolescence) is to ‘disrupt yourself’ or to ‘innovate more’.

But what exactly is innovation? There is a plethora of opinions regarding innovation and why it is important. Innovation is about novelty and new ideas, about how we might create new products or services, business models or processes. The ability to develop new ideas and innovations is seen as a…CONTINUE READING

Article source: https://www.marketingweek.com/2017/04/18/innovation-marketer-competence/

Direct Mail Marketing: To Live or Let Die?

Direct Mail, Direct Marketing, Print Marketing, Marketing

While some experts predict the demise of direct mail, some direct marketing experts think direct mail will evolve, thrive and improve your marketing ROI. It is one of the most powerful channels of engagement.

Personalization through elements of specific demographics, buying patterns or consumer interests can make direct marketing campaigns more relevant. As with any branding and marketing programs, it’s vital to know your market and objectives. Are you still using direct mail marketing? Are you getting maximum leveraging from your campaigns?

Direct mail is not going anywhere anytime soon, even in light of the digitized forms of customer communications. Expect to see more programmatic direct mail projects and a broad mix of segmented media. It appears direct mail has more of a lucrative future than expected.

15 Roads Leading to the City of Inbound Marketing

Inbound Markeing, InKNOWvative Concepts, Social Media, Marketing Business

15 Roads Leading to the City of Inbound Marketing
By Kym Gordon Moore

How do you attract visitors to discover you? What strategies and best practices do you put into place to convert those visitors into potential customers? Using aesthetics to identify, educate and offer solutions to your visitor’s problem is how you build up your trustworthiness. Using unambiguous representations for contextualizing relevant content on your inbound marketing roadmap indicates how you will communicate your message effectively.

Brand champions respond to change, test and use data to make improvements, collaborate and successfully duplicate without delay. Here are 15 free traffic sources to apply to your inbound marketing campaigns:

1. Media-News

Includes activity from press releases, radio, TV, interviews and PR.

2. SEO:

Attracts more visitors from search engines based on keyword optimization and content relevant to your business.

3. Email Marketing: READ MORE

Article Source: http://EzineArticles.com/?15-Roads-Leading-to-the-City-of-Inbound-Marketing&id=9640092