What Is It? Revenue Wellness is a concept-driven by feedback from our clients and the market. It is a belief that the health of a company’s top-line is an ongoing process that does not have a start and end date like typical traditional consulting.
- Traditional revenue consulting is an intervention that addresses an acute problem;
- Revenue Wellness is an ongoing monitoring of revenue health that gives objective and data-driven guidance ahead of catastrophic failures
- Intervention along the way will sometimes be unavoidable, but with more visibility, interventions are less disruptive
- As is true with human health; on-going management of revenue wellness is a lower-cost path with better long-term outcomes versus acute intervention
Revenue Growth Is Not a Sometimes Thing; It’s An All The Time Thing
Market Problems Affecting Revenue Focused Executives:
- Market dynamics change more rapidly than ever before
- It’s difficult to see a top-line “miss” on the horizon
- The amount of available data can be overwhelming…which data points are most critical?
- It is difficult to carve time out to evaluate if what is working today will continue to be successful tomorrow.
Advisory Services in Action:
The company was growing at its industry growth rate (in line with GDP). Over a 3-year period, SBI has partnered on transformation projects in the following areas:
- Customer Success
- Customer Experience
The company chose the Advisory Services option to ensure that its team took ownership of the new processes, and could effectively run them on their own.
- Marketing function was corrupted, and not effectively generating demand.
- Sales reps were responsible for new logos and existing customers, which was inefficient.
- Had anecdotal information on customer satisfaction, but this was not measured
- Talent was misaligned throughout the organization, and SBI provided recommendations on improvements in each function.
SBI RESPONSE AND RESULTS
- SBI recommended a new marketing organizational structure which was deployed. SBI provided ongoing coaching to the new CMO, as the team was deployed.
- SBI designed a new campaign management approach and guided the team on deploying this tool. The team went from 4 campaigns per quarter to 18.
- MQL volume increased 150% in the first quarter of deployment, and 175% in the subsequent quarters as SBI coached the team in the new tools.
- Established Listening Paths and Mapped the Customer Journey to understand friction points and prioritize efforts.
- Built a Customer Dashboard to create actionable intelligence from disparate data sources. SBI maintains this dashboard on thier behalf.
- Hired a CX Leader to sustain these changes long-term. Onboarded and coached the new leader who deployed several CX improvements.
- Stood up Strategic Accounts and Customer Success Functions to more effectively serve clients. This included a coverage model, organizational design and execution, sourcing leaders, job descriptions, hiring and playbooks. Coached the new leader to achieve 98% dollar retention.
- Prototyped the Customer Onboarding Process to accelerate time to value and accelerate adoption of a new product. Improved user adoption by 38% in the first 90 days, with ongoing improvements of 15% per quarter as their team took ownership of the new process.