by Alexandra Jansson, Consultant at Nortal, May 4, 2018
Revenue Science isn’t rocket science. In essence, it involves putting four components into play to turn a business into a well-oiled revenue-generating machine. Whether the company is selling B2B, B2C or C2C, these components are the same: process, data, system and organization.
We delve into the details of these components on Nortal’s Revenue Science page, but here’s a brief rundown:
A common difficulty for Revenue Science newcomers is understanding how these four components interrelate. The key is to view them holistically, as parts of a single system.
Align processes, data, systems and organization to generate revenue growth. Make those four words your mantra and you are on your way to becoming a Revenue Science ace
It is essential not only that each one is in place and working well individually, but also that they are optimized to work well together. Think of it as a precision automobile, where all the parts function together to get things moving. If one is missing or doesn’t fit, you’ll go nowhere.
Also, as with a car, each part must be designed or chosen taking the other parts into account. For instance:
The ideal process perfectly meets customer expectations, creating a personalized and seamless experience. But an accurate understanding of those customer expectations comes through analysis of your data, combined with other research.
Systems must be picked and customized based on how they match your process and your organization’s abilities. The management and staff who make up your organization, in turn, must be able to take control of the process, a change that may require training and breaking down the traditional silos between marketing and sales.
This, of course, is just a snapshot of the interplay among process, data, system and organization, but it illustrates the most fundamental lesson of Revenue Science: Having the right components tuned up, polished and – most important – working in sync is the way to win the race. Now that didn’t take a PhD to understand, did it?
Interested in how Revenue Science has helped real companies? Read how we helped a heavy industry client get well ahead of their competitors with their online marketing and marketing automation efforts.