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Revenue performance management (RPM) is when a company identifies revenue drivers, rigorously measures their performance, and then pulls the key marketing levers within commerce solutions to optimize topline growth.
Each year, various business magazines ceremoniously unveil their fastest growing companies lists. The companion profiles typically attribute the catalyst for these companies’ achievements to broad and amorphous differentiators, such as leadership, innovation, and culture.
The truth is far more specific.
Over the past few years, Oracle has studied the revenue performance of a wide range of companies. We have identified a small group that consistently outperform and outcompete their peers.
Revenue success is not luck. These companies use revenue performance management.
Revenue performance management is a systematic approach to identifying the drivers and impediments to revenue growth, rigorously measuring them, and then pulling the economic levers that will optimize marketing ROI and top-line growth.
When it comes to understanding an organization’s revenue performance, revenue performance management sheds light on its marketing investments, revealing where and how investments throughout the pipeline lead to revenue growth.
The following highlights the five reasons why it is time for the C-suite to adopt revenue performance management.
Big money goes into sales and marketing. For a typical organization, about 30% to 40% of top-line spend goes into generating revenue. With so much money being poured into these investments, they better be strategic.
Revenue doesn’t just happen with a closed sale. A lot of companies can see what happened at the last slice of the sales funnel when a deal closes. But to truly understand why that deal closed, you need to view the buyer’s entire journey and all the touchpoints that influenced the sale along the way. With RPM, you can.
Revenue performance management gives you the ability to plan ahead. Once you know what investments are pushing leads through your sales and marketing funnel, you can start measuring the impact of your investments two or three quarters out. It’s not just about reacting; it’s about actively planning ahead.
You can identify your biggest problems. Instincts might tell you to hire more field sales reps, but is the clog you’re experiencing really at the bottom of your sales funnel? RPM is about pinpointing the pain in your sales cycle so that the investments you make are solving the actual issues, not adding to them.
You can see how you stack up against your peers. Without solid, ongoing analysis, it’s difficult to measure performance. You might feel like your sales cycle is too long, but how do you know? Benchmarking, both externally and internally, is a critical component of revenue performance management. Get it down and you can get a grip on the velocity of your sales cycles.