Building a Predictable Revenue Model

October 3, 2019 Will Norris

Does your business have a foolproof system in place to execute marketing and sales initiatives? If you’re struggling to build a predictable revenue model that fosters year-over-year growth, Rev.io can help you get back on track!

Reference our eight-step guide below to jump-start organized revenue growth for your company.

Revenue Model

 

 

Step One – Implement your Marketing Strategy

Across owned channels, paid channels, and earned media, craft engaging content that acknowledges your target customer and their most critical needs. Identify the unique solutions you can offer within this messaging and detail how your products and services can solve their relevant problems. From here, describe your business distinctions from industry competitors and convey how you fit in with the larger ecosystem accordingly.

By implementing these strategic efforts, you can optimize the marketing funnel, resulting in more leads and opportunities for sales team execution. These tactical approaches to marketing are active contributors to Rev.io’s business growth.

Step Two – Set Targets & Calibrate Ratios

Organize the targets and calibrated ratios of your sales representatives by quarter, week and day to effectively outline your organization’s goals. By measuring team performance in a segmented fashion, you can accurately pinpoint necessary improvement areas for each member of your team.

Examples of metrics that our sales team at Rev.io monitor and analyze include: 

  •     Calls per rep before reaching a decision-maker in the client organization
  •     Appointments completed per rep before scheduling a product demo request
  •     Number of demos per rep before closing a deal

Step Three – Build the Right Team

Build a team with the right leadership skills and experience to establish and then maintain a predictable revenue model. Employ effective leaders that you believe will remain proactive in the recruiting process who will also hire candidates with a specific culture fit in mind.

At Rev.io, this forward-thinking approach to development and collaboration unifies the team around our company mission – to help clients grow revenue efficiently. 

With this mission in mind, our sales model integrates different positions – including sales development representatives (SDRs) and an account executive – to connect with prospects of varied sizes across different channels and convey the meaningful benefits of Rev.io’s billing software solutions. Specifically, SDRs are responsible for conducting cold prospect calls, generating new leads, and preserving sales team data within Salesforce. The account executive’s role involves developing strategic partnerships with enterprise businesses, which often requires traveling to meet with these prospects in person and outline what sets our technology apart. 

Step Four – Set Expectations & Track Activity

Establish what you need from the team by first installing expectations for the organization. After you’ve refined this vision, set up benchmarks for continued mission and value reminders across the business. Furthermore, acknowledge the hard work of your team beyond closed deal metrics by implementing a defined activity model. 

At Rev.io, we use an ACT TOP system – awarding one employee who reflects our company ideals every month – to construct an inviting culture and work environment. For performance measurement and subsequent team acknowledgement, our daily activity point model operates on a scale of 500 points per week. Beyond generated revenue, the competitive design of this model gives our sales reps additional incentive to increase call engagement with prospects.

Step Five – Define your Sales Process

 To organize your sales strategy for implementation, begin by first clarifying the team approach and subsequent day-to-day operations.

At Rev.io, we feature a Sales Beacon with 4Ps – preparation, prospecting, presentation and post-sale – to outline this key decision-making. Examples of proactive 4P activities include daily role plays, weekly sales training sessions, and 90-day onboarding certifications.

 Step Six – Prioritize Training & Enablement

To develop a successful business environment and predictable revenue service, hire self-motivated individuals who are both competitive and driven. These candidate qualities are worth targeting, as they are found in many top athletes across professional sports today.

At Rev.io, we recognize the amount of practice required to bring our sales performance and generated revenue to the next level. Our daily role plays, product training, and company-wide leadership transparency reflect steadfast devotion to both individual and company growth.

Step Seven – Choose the Right Technology Stack

 Call on the support of innovative platforms to build a beneficial technology stack.

 Our team at Rev.io doesn’t hesitate to utilize best-of-breed industry systems and applications that will directly complement our billing software products and services. Examples of the digitally intuitive tools we take advantage of include Salesforce, Pardot, SalesLoft, Vidyard, DiscoverOrg and Chorus.

Step Eight – Inspect what you Expect

 Prioritize measurement as the final crucial element when developing your team’s predictable revenue model.

Using Salesforce for business documentation and internal dashboard sharing, Rev.io carefully balances a steadfast confidence in our team’s abilities with a strategic need to proactively analyze and interpret business results in real-time.  

Contact Rev.io for More Information 

Want to learn more about this eight-step outline and how our team can help your company achieve predictable revenue model success? 

Contact Rev.io today for strategic tips that will help improve your business and billing solutions. We’re happy to discuss the benefits of our innovative billing platform, integrated customer management system and payment processing solutions in greater detail.

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