At your company, who is in charge of creating revenue? The answer is typically “everyone.” And, as we all know, when everyone is responsible for something, no one is responsible for that thing.
Revenue Performance Management (RPM) is a strategy which involves realigning traditional marketing and sales teams to create a unified department in service of generating revenue. Not only does this process unify these often-disconcerted departments, but it sets up clear accountability for meeting revenue goals.
As this week’s infographic explains, RPM is an effective strategy for companies big and small. The infographic comes to us from Marketo. It explains all the tools, technology, and personnel you need to get a Revenue Performance Management strategy up and running.
A few interesting ideas associated with RPM include:
- Sales and marketing departments have the same goal: revenue generation.
- The sales and marketing funnel do not exist separately. (They’re both parts of the revenue cycle.)
- Measuring revenue creation at each stage of the process is integral to accurate forecasts.
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Let us know what you think:
- Would you consider using an RPM strategy?
- Do your sales and marketing teams work closely?
- How do you attribute revenue to sales and marketing activities?