When you ask marketers what’s most essential to them, they’ll tell you that traffic and leads are at the top of their list. When you ask sales reps the same question, they’ll tell you about SQLs and bookings. If you ask the customer success team about it again, you’ll learn about client health and retention.
But there’s a common thread running through all of these figures: revenue.
Buyers are attracted by marketers in order to generate revenue. Deals are closed by sales reps in order to generate income. Customer success, on the other hand, delights customers, allowing them to stay longer and generate more income. Sure, traffic, SQLs, and customer health ratings are important, but Revenue Acceleration is what drives growth.
There are two primary methods for firms to increase revenue:
The first option is to personalise and authenticate your customer’s purchasing experience.
You accomplish this by recognising that each buyer has unique wants, desires, expectations, and obstacles. Then you provide the ideal experience for each consumer, reducing friction and allowing you to form stronger bonds.
The second step is to streamline and improve how your marketing, sales, and customer service teams interact with consumers and guide them through the purchase process.
Instead of three different go-to-market teams working toward three separate goals, Revenue Acceleration brings them together around a common aim. Your staff work together to create a smooth buyer conversation. From the first point of contact with a prospect until the end of their buying journey and long-term customer experience, that discussion flows.
Many businesses fail to master both of these strategies. They frequently fail to see the connection between them. Your client experience suffers when your internal processes are clumsy. When your client experience deteriorates, it puts additional strain on your personnel and systems.
It’s simple to state that both parts are critical. It’s easy to claim that you should work on both at the same time. But how do you get there in the first place? This is where our new Revenue Acceleration model may help.
is a new way of interacting with potential customers. It allows customers and purchasers to engage in real-time, tailored interactions. It reduces friction, making the purchasing process more pleasurable.
Conversational Sales takes over as the deal cycle progresses. Your sales professionals employ the same method to create trust and credibility with buyers and convert them into customers instead of sticking to formulaic sales scripts.
To bring your go-to-market teams together, Revenue Acceleration combines Conversational Marketing and Conversational Sales. It establishes real-time connections with buyers and provides customized consumer experiences. This will boost your revenue, shorten your sales cycles, and help you build a stronger brand.
We’ll look into the inner workings of our new model in this blog. You’ll discover how it affects all aspects of your business, from a buyer’s first engagement with your website to their customer experience and renewal process. You’ll learn how it can alter your firm and bring in a new era of expansion. Let’s get started.
Stage 1: Interact with Website Visitors
Do you recall what it was like to shop at Nordstrom before the COVID?
The workers at the business treated you like a VIP from the time you came in. Greetings were waved by greeters. You were escorted from one department to the next by personal shoppers. Stylists also assisted you in selecting the ideal clothing.
Compare that to the majority of B2B internet purchasing experiences. When you visit a website as a customer, you’re on your own. You’re left on your own to read, research, and learn. It’s not because businesses are unconcerned about your well-being. It’s because they don’t have a way to interact with their visitors in a way that resembles genuine face-to-face interaction.
They have no idea who is visiting their website. They can’t filter information fast enough or engage with visitors with strong intent. Even when a visitor is inspired enough to take action, it is unclear how to schedule a demo or speak with someone for assistance. There are no do-overs here: 88 percent of respondents believe they are less likely to return to a website after a terrible experience.
Fixing those issues is the initial stage of revenue generation. Your mission is simple: engage everyone who views your website, initiate conversations, and set up appointments. By laying this foundation, you’ll be able to start conversations and form relationships with customers, both of which will help you learn more about them.
Stage 2: Identifying Potential Buyers
Marketers devote a significant amount of time, effort, and resources to initiatives aimed at attracting potential customers to their website. They lure readers with excellent content, pay searchers with paid advertisements, and use ABM to stimulate the attention of target accounts.
Things start to go wrong after they attract visits to their site.
Many businesses have no idea who is visiting their website. Unknown organic visitors, high-quality target buyers, and consumers all appear the same in their analytics. Due to the inability to give personalised experiences due to opaque data, every visitor receives the same generic messaging and experience. That’s a recipe for disaster, considering that current buyers value customer experience above both price and product.
In the lack of data, most companies cast a wide net, bringing in one unqualified lead after another and forwarding everything along to their sales team. Even the finest salespeople, however, cannot perform miracles. A low return on investment is always a result of low-quality leads.
Your goal shifts to the pipeline in the second stage of Revenue Acceleration. Rather than engaging a broad audience, you target small groups of potential buyers and provide them with the customized experience they desire. Your paid traffic has one experience, while your established clients have another. The red carpet is rolled out for your high-value target accounts.
Conversational marketing allows you to see behind the curtain of your target audience. You’ll be able to observe where your visitors came from and adjust your channel, offer, and messaging accordingly. Your visitors aren’t getting the same generic experience anymore. Everything is about them from the time they arrive on your website: their background, motivation, obstacles, and wants.
Conversational Sales allows you to have a better understanding of your customers. Sales professionals can quickly target high-value accounts and access detailed information about who they are, what they’re looking for, and when they visit your site. Conversations that are ineffective and generic are no longer acceptable. The era of highly tailored interactions centered on each individual buyer is arrived.
Stage 3 – Accelerate Deal Cycles
Engagement is raised to a new level when interactions are tailored based on marketing channels. However, if you want to provide an even better customer experience, you’ll need to dig a little further. You must tailor interactions to the specific requirements, desires, expectations, and obstacles of each buyer.
That is the focus of the third step of Revenue Acceleration. To increase conversions, you’re increasing personalisation. You want visitors who are ready to buy when they visit your website. You’re assisting them in fast obtaining answers, support, and products. And you’re using artificial intelligence to achieve it.
By incorporating advanced AI into your sales and marketing teams, you can take Conversational Marketing and sales to a whole new level. Rather than presenting a succession of discrete options and shepherding customers from one branch to the next, your tech listens to what they’re saying and responds appropriately.
Now that your account executives have a better understanding of your buyers, their backgrounds, and where they are in the sale cycle, they can intervene at the right time. Your AEs can step in and fill in any gaps in the dialogue in real time, giving it a human touch.
You may maintain personal discussions with one or 100 buyers by combining the power of AI and humans. The payoff is great if you get it correctly. Within two or three years, customer experience leaders should expect to increase revenue by 5-10% while lowering customer experience programme costs by 15-25%.
Stage 4 – Increase the value of your customers
It can feel like the job is done when you complete a deal and sign up a new customer – like it’s time to pop the cork and rejoice. But, in reality, that customer’s relationship with your company is just beginning.
Things start to go wrong when firms underestimate the value and scope of client connections. Customers may feel like they’re fumbling with their new product or service if they overlook onboarding and training. Given that 57% of CEOs claim their onboarding process is only “somewhat effective,” it’s evident that this is a common issue.
The consumer will not know where to turn if they have a query if there are no clear routes of contact. When they reach a snag and seek assistance, they receive sporadic support.
You can give AI-powered support around the clock by arming your customer success team with Conversational Sales. Customers don’t have to wait till your support reps log back on if they need assistance at midnight. A personal assistant is waiting for you. Being available to your clients on their terms encourages them to accept your product, which is what this stage is all about. You make certain that clients use every feature, take advantage of every opportunity, and become devoted power users.
Your AI-assisted frontline assistance is only the beginning. You may connect your customers with the correct person right away by triaging their difficulties, problems, and issues. Customers with billing concerns go right to your finance department, those with technical questions go to tech support, and so on, rather than ping-ponging from one department to the next.
Stage 5: Transform Customer Engagement
Acquisition has a fresh and vibrant air about it. Adding fresh logos to the mix feels like progress.
Looking at the numbers, though, it’s clear that keeping existing customers is five times less expensive than finding new ones. Even a slight reduction in churn of 5% can increase earnings by up to 95%.
When companies overlook client retention, they develop undesirable behaviours and frequently provide a poor customer experience. Their initiatives for renewal and engagement become disconnected and out-of-date. They have a difficult time reaching out to customers and effectively responding to their requirements. Existing consumers become dissatisfied and cancel because they believe they are not getting enough value.
You convert customer engagement into an experience that delights your customers, maximises revenue retention, and produces devoted customer advocates in the fifth stage of Revenue Acceleration.
To provide the greatest possible experience for your customers, you use customer analytics and AI. You keep track of client behaviour and spot problems before they become major concerns. And your involvement isn’t restricted to issues. Instead, you leverage the data that AI discovers to improve your client experience in a proactive manner.
Becoming a Revenue Accelerator is a great way to increase your revenue.
Revenue Acceleration isn’t a revolutionary concept. Any business leader will say, “Sure!” when asked if they desire more revenue.
The true difference is in how you go about achieving it.
If you want to increase revenue, you must abandon the outdated belief that money is generated by either improving customer experience or optimising operations. Because it now comes from both sources.
Revenue Acceleration completely transforms your customer experience. It allows you to treat all of your visitors like VIPs and engage in targeted one-on-one interactions with target consumers. It enables you to use artificial intelligence to supplement transaction cycles, change your customer onboarding process, and boost your ongoing customer engagement strategy.
You reduce friction in the sales process and turn it into an enjoyable experience for buyers. And you’ll attract more consumers and build more loyal relationships as a result, increasing customer lifetime value.
It also assists you in optimising your own business procedures. Your staff can focus on the jobs, tasks, and projects that require human attention because you’re utilising AI to meet consumers, assess their needs, and provide frontline help. It’s all about being more productive — lowering client acquisition costs while improving customer value.