Creating your digital roadmap
The latest whitepaper, The Digital Revenue Organization: Defining the Modern Marketing, Sales and Service Model, details how technology is creating a fundamental shift in how organizations grow revenue. Companies are embracing a digital approach to Marketing, Sales and Service, which transforms all aspects of how they conduct business.
What is a Digital Revenue Organization?
In a Digital Revenue Organization, Marketing uses technology to engage with customers at more opportune points in the buyer journey, while Sales leverages leading-edge enablement tools to win in a challenging environment. But how does a digital technology approach enhance the effectiveness of their revenue operations?
The digital revenue organization is built on three foundational elements:
- Data
- Process
- Systems and Tools
It all starts with Data. Companies are leveraging more data points from multiple systems to pinpoint customer needs, create new solutions and identify gaps. Digital Revenue Organizations use diverse data points that offer unique insights into customer needs, helping Marketing, Sales and Service to provide specific solutions.
Process is being realigned to share data insights across the firm. Previously siloed departments and business partners now work together, using data to meet the common goal of growing revenue while improving the customer experience.
Emerging Systems and Tools help cross-functional teams execute faster, more successful revenue moves. From data analytics to virtual meeting tools, these systems help Digital Revenue Organizations to engage customers from pre-sale to after-sale and service consistently.
Integrating data, process, and technology requires a vision that starts from the top. How do companies design an organization that successfully implements these critical inputs to create a successful Digital Revenue Organization?
Creating a Digital Revenue Organization roadmap
Rethinking how business gets done requires a blueprint that includes a guiding vision, resources and commitment. However, digital is no longer “optional.” Companies must incorporate advanced digital behaviors that will transform their organization and help them remain competitive.
Leading companies design a four-part roadmap that embeds Digital Revenue Organization capabilities across their organization.
- Step 1: Survey the data landscape. Envision how you can use data to guide marketing, sales and service motions. Look at what is trending in your industry and engage expertise when needed to get a clear picture of your current data capabilities.
- Step 2: Architect the data environment. What will you need to aggregate, curate and create customer insights? Building a cross-functional team that includes Data Science, IT, Marketing, Sales and Service will bring unique perspectives to your Digital Revenue Organization vision.
- Step 3: Identify value for the buyer. The buyer journey is evolving, and knowing what data is required to support that journey is essential. What data will be useful for serving the customer while also growing revenue?
- Step 4: Execute your blueprint. Connect Marketing, Sales and Service with data insights, giving them systems and tools they need while supporting organizational change. Your new roadmap will require rethinking your organization while retraining your workforce to operate in new ways.
What does a Digital Revenue Organization look like?
Getting Started
Building a roadmap is the first step in building your Digital Revenue Organization and achieving revenue growth targets.
Design a three to five year plan that starts with an objective view of your current state, identifying areas for improvement. Your cross-functional teams will provide insight into what the end-state looks like, helping you create a roadmap and prioritize investments. Buy-in at all levels will build momentum.
Review your existing buyer journey and personas and how they will change with new insights. Discuss what new roles you will need, from social media specialists to service technicians and inside sales reps. Provide people with the enablement tools they will need to execute your roadmap and enhance customer engagement successfully.
Digital Revenue Operations expertise for leading companies
Alexander Group is a Revenue Operations leader, helping companies become more agile as they embrace digital trends. While working with leading firms committed to embracing their digital presence to grow revenue for the long-term, Alexander Group helps them implement their own Digital Revenue Organization.
For more details, download the whitepaper, The Digital Revenue Organization: Defining the Modern Marketing, Sales and Service Model.
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Author
Matt Greenstein is a principal based out of the New York office. He works with clients across technology, life sciences and healthcare. He has responsibility for leading the firms Life Science and Analytical Instrument and Digital Transformation practices. His areas of focus include large scale transformation and integration across all commercial functions–tactical marketing, sales and service. Matt has global consulting experience and is known for his fact-based, hypothesis-driven, problem-solving style.
