Article January 12th, 2017
by Ilmari Piela
Successful businesses of the future will purchase their growth as a data-driven turnkey solution
The goal of all business enterprises is to succeed, grow, and provide value for their owners. Every corporate executive directs the efforts of the company toward this mission. The old model, which many executives don’t consciously choose but comes from the cumulative burden of history, has meant picking tools and experts, one by one over years, so the overall picture in the end looks like a sum of incompatible components. Separate new systems require more investments and when they fail more time is wasted setting them up again. The data from one system might also be illegible to another, so it is harder or even impossible to utilize. It is obvious that the model described above is rigid and will not improve profitability as desired.
There is a systematic way to increase profitability
Be it a website, a social media service, an online catalogue, in-game service or what have you, we live in a time when customers demand their own way of completing the online purchasing process. Businesses have to respond to this challenge in some manner or see their competitors outrun them. Small and agile start-ups rise up to this task right away, they have the flexibility to be whatever the customer wants them to be. How can large, export-oriented corporations reform their processes, growth and profit, preferably as a unified, ready-made package?
Profitability can be increased with the right combination of business strategy, new technology and skilled people. We have successfully digitalized the processes of various businesses and entire countries even. For increasing the efficiency of sales and marketing, we have a tried and tested operational process that smoothes the wrinkles out of your customers’ purchasing journey.
Customers are independently completing 80% of their purchasing journey online. Large corporations must be where their customers are by preparing an integrated online path for buyers with integrated systems to boost sales and marketing – or else a small and agile operator will steal their customers.
At the core of Revenue Science lies the goal of a customer-oriented and result-focused business, supported by integrated systems and procedures. In our view, systems should not be purchased one piece at a time, hoping they do not contain overlapping or conflicting components.
With regard to the whole entity, CRMs, ERPs, online stores, marketing automation and other functions that use client data and customer management must be put in order within a single process.
Instead of buying entire systems as the need arises and then noticing clashes later on, the right set of revenue-increasing tools for sales and marketing should be purchased as one service, as you would with anything that has a degree of unpredictability around it. It will ensure the compatibility of the systems and help the company take control of their growth, improve profitability and utilize the right data in the right time in the right place.
The biggest bottleneck in the development of business operations is that customer data is dispersed in several different locations because the systems are not compatible with each other. Revenue Science, our concept for growth and profitability, not only puts the digital systems in order; it also gives you, the chief business officer, the opportunity to make intelligent decisions on the basis of valuable, relevant data.
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