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What’s revenue performance management? It’s when a company identifies revenue drivers, rigorously measures their performance, and then pulls the key marketing levers to optimize topline growth.
Each year, various business magazines ceremoniously unveil their Fastest Growing Companies lists. The companion profiles typically attribute the catalyst to broad and amorphous differentiators like leadership, innovation, and culture.
The truth is far more specific.
Over the past few years, Eloqua has studied the revenue performance of a wide range of companies. We have identified a small group of companies that consistently outperform and outcompete their peers.
It’s not luck. These companies use Revenue Performance Management.
Revenue Performance Management (RPM) is a systematic approach to identifying the drivers and impediments to revenue, rigorously measuring them, and then pulling the economic levers that will optimize marketing ROI and top line growth.
As a business strategy, RPM requires the right mix of people, process and technology in order to drive real revenue growth. Marketing automation is certainly one enabling technology, but not the only. After all, businesses use all kinds of tools and services to drive revenue—from social media tracking tools to website analytics to sales force automation. But even more important than investing in technology is the development of business practices that are universally accepted and adhered to.
The pattern that emerges among best in class adopters of RPM shows the following four business practices are key to a successful RPM strategy:
1. Modeling the integrated sales and marketing funnel .
2. Continuous improvement through industry benchmarking .
3. Making data actionable with deep analytics.
4. Long-term forecasting to identify future revenue opportunities.
Read the white papers to learn more.