The insights offered highlight the difficulties companies face in selecting the technology that underpins a new Marketing, Sales and Service paradigm. There are thousands of applications competing for scarce resources–money, time and mind share. There is no shortage of failed deployments and jaded business partners. Nonetheless, Revenue and IT leaders must remain steadfast–the future of revenue growth is here now and many have yet to lay the foundational bricks to activate the new operating model.
The technology stack for the Digital Revenue Organization is the virtual ecosystem used to externally engage and internally enable. Alexander Group’s research suggests those furthest down the digital transformation path, invest 2x more than others and experience 45% higher revenue growth. This spend is distributed across an interconnected web of systems and tools across the Marketing (14%), Sales (53%) and Service (33%) functions.
The technology stack is the central nervous system of Digital Revenue Organization. It coordinates, synchronizes and influences activities across teams. A well designed web of systems, processes and data allows the operation to scale differentiated customer engagement and maximize the impact of marketing, sales and service motions.
These investments are not inconsequential. However, they promise intriguing returns via top-line growth, scale and operational efficiency. The time is now to build the technology stack for the Digital Revenue Organization to pave the path.
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Video: Impact of Digital Transformation on the Revenue Organization