Sales performance management (SPM) is the glue for the revenue capture lifecycle — orchestrating, motivating, and incenting the field better enables revenue operations and significantly improves performance at minimal expense.
But how exactly do Chief Revenue Officers (CROs) effectively coordinate revenue operations across marketing, sales, and customer success to triple company revenue with SPM?
CRO’s three keys to revenue success
Top revenue execs accelerate revenue capture by doing things differently. That means avoiding common traps to give sales engagement, deal structure, and customer enablement a solid foundation.
Our hundreds of clients are industry leaders because they craft revenue operations frameworks that leverage the power of SPM by prioritizing three guiding principles.
- Efficiency = Profitability.
The best CROs make sales prescriptive with performance data that orchestrates roles and technology, because they understand that efficiency metrics are today’s most reliable way to evaluate team profitability. They connect production and financial performance with clear orchestration, motivation, and incentives to ensure all parts of their organizations move in concert toward their goals. - Continuous Agility.
The best way to stay #1 is to always think like #2. According to Forrester, the pace of today’s market has made yearly and quarterly planning a thing of the past; the best enterprises revisit strategies continuously, with data-driven insights and trusted partners that help them shift quickly. They account for sales role complexity by designing dynamic territories and quotas to ensure impact through the entire funnel, and quickly facilitate changes with tech that uses similarly agile practices to bring and adapt minimally viable programs in-market. - Empathy.
Technology is an enabler, not a management tool. Without closed loops that bring value to users, which is exactly what specialized technology is designed to do, CROs lose adoption. A CRO’s customer is the rep — those who think through that lens gain low total cost of ownership and high ROI.
By keeping these three principles in mind, revenue leaders orchestrate, motivate, and incent their teams—and unlock 10% or more in annual sales, per Gartner.
Interested in learning how to build your own revenue operations framework to accelerate the revenue capture lifecycle? Attend our webinar: The Three Misdemeanors of Revenue Operations.
SOURCES
- “The New Sales Imperative,” Forrester Research, 2020.
- Sales Statistics, Xactly Corporation.
ADDITIONAL RESOURCES