Introduction
Unlock the hidden revenue potential in your business
Before Chief Revenue Officers (CRO) existed, business teams were heading towards the same destination but without clear lines of communication on that same journey.
The bigger the company, the bigger the disconnect.
A study published in Harvard Business Review of 95 teams from 25 leading corporations found that 75% of cross-functional teams are dysfunctional.
The purpose of the CRO is “to align and optimize the entire customer experience with the aim of increasing revenue,” according to VentureBeat. The CRO needs to optimize the alignment of each line of business and unify the company’s goals.
Within this customer experience, opportunities exist to maximize revenue. You just need to know where to find them.
The Challenge
Disconnection between Departments
Each line of business team is responsible for its own KPIs and departmental bonuses, with budgets aligned with this reality. Departmental aims sometimes come before the good of the company.
An example of this is when Marketing teams talk about the number of MQL leads they created during the quarter from specific campaigns, and how many of them were Sales Qualified. But, how many of these SQLs made it into the Opportunity pipeline? What was the cost, and source, of the leads that become real opportunities?
The Solution
Building a Revenue Engine
Rather than think of marketing, sales, and customer success as separate, siloed systems, a better perspective is to view them as working together in an end-to-end, holistic process. Each part contributes data that tells the story of its impact on revenue.
An effective response
Reverse engineering the pipeline results to their attributed sources is an excellent method of ensuring the most efficient business results are at the forefront of the funnel optimization process.
Drill deeper
It’s not enough to look at the high-level lead sources that led to success; you also need to set up the sub-campaign themes within your lead capture workflow. This allows you to drill down to the messaging and segmentation that drives the most qualified leads to convert, resulting in a greater volume of qualified opportunities.
Carry the unique buyer fingerprint forward
Information gathered by the sales team, or collected from the buyer, must be mapped through the fields across your CRM to the very end. No detail is without value. The buyer’s time is sacred and should never be wasted with mundane questions they have already answered through their form submissions.
When I spoke with HubSpot’s Dan Tyre, he emphasized the importance of personalization throughout the buyer’s journey, stating that any digital touchpoint should provide an experience that feels as if it is speaking directly to the buyer. This is true throughout the buyer journey, not just in the initial stages of attracting traffic.
Are you on track for real revenue growth?
Consider these sales process KPIs that matter to the CRO:
Differentiate your company
The above KPIs are 100% valid, but to differentiate yourself as a company you need to also measure and reduce your latency time between every step in the sales process.
- Increasing response rates from 27% to 92% causes a 314% lift in results; all you have to do is respond immediately and persistently to leads, according to Ken Crogue, in Business2Community.
- Faster deal-proposal creation and sending is equally important during every stage in the Sales Funnel. At DealHub we reduce our customers’ buyer response time by up to 78%. CEO, Eyal Elbahary, says this is “largely due to the fact that all the heavy lifting for each salesperson is pre-configured,” making it quick and convenient to respond to buyers.
- Strategic monitoring and cross-reporting among teams ensures growth is sustainable and allows an organization to focus on identifying and scaling activities that drive revenue growth.
Previously, quotes took 8 minutes and involved tedious manual processes. Now, with DealHub, quotes are done in just 30 seconds. With DealRoom, we can track who opened and forwarded proposals, providing us the insights to engage buyers at the right time.
Michael Nguyen, Manager, Sales Ops at SourceScrub
Make smarter technology selections
A couple of years ago, it was normal to have many different sales technologies managing various stages of the Sales Process. Now, there is a new class of revenue platform on the market, allowing you to unify your sales tech while giving you a complete view of buyer engagement and revenue opportunities at every stage in the deal proposal process.
All for the greater good
The Chief Revenue Officer has our greater good at heart – they want us to work together and create a responsive and transparent workflow. A solid CRO is adept at looking at the net business outcomes and all of the channels that contribute to success – New Business, Expansion, Renewals – and the respective roles of Marketing, Sales, Account Managers, and Customer Success in driving revenue growth.
Summary
At DealHub, we are excited to provide CROs with a revenue platform that solves the challenge of siloed data and disconnected teams. Sales teams present a personalized experience to the buyer with DealRoom, a digital sales room that provides a centralized hub for all deal documents. They can track engagement and access real-time buyer intent data to prioritize sales opportunities.
We give you a new lens to understand your measured deal progress within your wider CRM. You’ll have a crystal clear vision of revenue opportunities through the entire sales process.
About DealHub
DealHub delivers a complete quote-to-revenue solution designed to accelerate sales processes. DealHub CPQ is a flexible, no-code, easy-to-use platform that helps businesses stay agile and customize their sales process. It empowers enterprise and mid-market leaders to build predictable sales pipelines, connect their revenue teams, and close deals faster.
DealHub provides sales professionals and their customers with a consistent environment for building and maintaining an engaging dialogue throughout the sales and deal management process. Centralize buyer/seller communications and provide everything needed to close deals in a digital DealRoom.
With CPQ, CLM, Billing, and Subscription Management software powered by an intuitive Sales Playbook, your team can generate, on the fly, accurate price quotes, accelerate contract negotiations, deliver relevant content, and close bigger deals.
Integrating with leading CRMs (Salesforce, Microsoft Dynamics and HubSpot) and trusted by revenue experts such as Deel, Gong, Intuit, Trintech, SpotOn, HP, and Braze, DealHub ensures faster time to value with one fluid revenue motion.
One platform. One source of truth. One seamless revenue motion.
That’s the power of DealHub.
