If you’re pursuing a Revenue Performance Management strategy, then you’re definitely on an evolving journey. And that journey is what Erin Rampey, Marketing Automation Manager at NetApp, mapped out so elegantly today at DemandCon. For NetApp, a $4 billion, global data storage company and Eloqua client, Revenue Performance Management has been like sailing upon the sea, discovering various islands along the way as it pursues the strategy of driving predictable, sustainable revenue growth.
The RPM journey mapped out by Erin Rampey of NetApp
While Erin went into great detail about this journey, she spoke about the 5 Islands of the Revenue Performance Management Journey, summed up in the following graphic.
Sponsorship Isle
Every ship needs a skipper. Before your crew can set sail, you need a captain. Remember, you’re looking at fixing the fundamental processes of your business. This requires buy-in and constant communication with your executive team. A captain who will champion your cause is vital. You need someone with a steady hand at the helm when the seas get choppy.
Isle of Excellence
Revenue Performance Management can dramatically change your business, improve efficiency and help you identify the keys to ongoing growth. But big goals require big ambition. If you’re going to achieve RPM, you need to constantly strive for excellence. The point is to lead your industry, not settle for the status quo.
Island of Alignment
You need to run a tight ship. To pull that off, your sales and marketing team need to be closely aligned. It’s important to come together and flesh out common definitions and terms. Marketing should understand how sales define leads. Sales need to know when and why marketing is passing a lead onto sales. Communication is key. Remember, you’re all on the same boat. Make sure you know the common commands.
Automation Islands
Revenue Performance Management is about changing processes. But you’ll struggle to scale those changes if you don’t have the needed tools in place. Lead scoring and lead nurturing were fundamental in NetApp’s journey, allowing the company to identify smart demand generation strategies, resuscitate dead leads and find missed opportunities. Without marketing automation, you might find yourself lost at sea.
Analytics Island
When sailing the ocean, you have to respond quickly to the conditions around you. Similarly, businesses on the way to RPM need to access the data on how campaigns are performing and adjust strategies when needed. Collect analytics, benchmarks and reports that demonstrate your impact to the bottom line.
If you follow this map, and make the right stop along the way, you’ll be on your way to what Erin calls RPM-topia, where you’ll be able to deliver long term forecasts of the financial weather, prove the value of your campaigns and drive predictable revenue growth.
