Ellucian's Chief Executive Officer demonstrates how to evolve your strategy to hit topline revenue growth goals

Today in this post we will demonstrate how to evolve your strategy to stay ahead of the market. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. The Revenue Growth Diagnostic interactive tool will help you determine if you are likely or unlikely to make your number.

 

I recently interviewed Jeff Ray, the Chief Executive Officer for Ellucian.  A worldwide leader, Ellucian provides software and services to the higher education market. 18 million students around the world are touched by Ellucian software tools each day. Jeff demonstrates how to evolve your strategy to stay ahead of the market.

 

In the first segment of the show, Jeff and I discuss the three drivers of growth for Ellucian. In a mature ERP market Jeff outlines the need to grow by taking share from the competition. Jeff describes this colorfully as a ‘cage match’ between entrenched vendors.  This requires bloody knuckled, classic street fighting sales reps that know how to beat the competition.  Watch as we discuss two other drivers of Ellucian’s growth involving market expansion and market exposure.  Each growth driver requires different skills, hiring profiles, maybe even a different compensation plan.

 

To avoid competitive erosion, Jeff describes how revealing insights from quantifying Customer Acquisition Costs impacted his strategy.  He evolved the strategy to re-allocating spend in sales.  Jeff explains; “Customer Acquisition Costs became really important. We found that we could make significant trade-offs in where we were allocating spend in sales to go after higher growth markets without disrupting the core sales pipeline of the traditional direct sales model.”

 

Why this topic? Strategic time horizons are changing.  5 year strategies are getting compressed to 3 year strategies and 3 year strategies are getting converted to 1 year operating plans with quarterly agile iterations.  This time compression requires the CEO, and his executive leadership team, to build the capabilities associated with strategy evolution.

 

Have expectations gone up and left you wondering if you can make your number? Here is an interactive tool that will help you understand if you have a chance at success. Take the Revenue Growth Diagnostic test and rate yourself against SBI’s sales and marketing strategy to find out if:

  • Your revenue goal is realistic
  • You will earn your bonus
  • You will keep your job

 

 

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ABOUT THE AUTHOR

Greg Alexander

Leads the firm's focus on the CEO’s role in accelerating revenue growth by getting the product team, the marketing department, and the sales organization into strategic alignment.

Greg is the host of The SBI Podcast, the most listened to sales and marketing podcast on the internet.

 

He is the host of SBI TV, a monthly television program broadcast on the internet featuring top B2B sales and marketing leader sharing their strategies to grow revenues.

 

Greg is the Editor-in-Chief of The SBI Magazine, the leading B2B publication focused on sales and marketing effectiveness.

 

He is the author of two critically acclaimed books Topgrading for Sales and Making the Number.

 

Greg has authored over 100 articles on SBI’s award winning blog, The SBI Blog.

 

He graduated from The University of Massachusetts Amherst with a BA in English and received his MBA from Georgia Tech.

 

Video:

 

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Greg Alexander and Tony Capucille, Chief Sales Officer at Heartland Payment Systems, discuss the pros and cons of the 7 B2B sales organizational models.

 

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Greg Alexander and Todd Cione, Chief Revenue Officer at Rackspace, talk about hiring, onboarding, and developing exceptional sales talent.

 

Articles

 

Fill Every Role on Your Team with an A Player

In this article, Greg Alexander makes the case for applying the TopGrading methodology to the sales team, and outlines how to do so.

 

What CEOs Need to Know About Their Marketing Strategies

In this article, Greg Alexander and Rashid Skaf, CEO of AMX, discuss the role the CEO plays in crafting a company’s marketing strategy.

 

What CEOs are Looking for in a Sales Leader

In this article, Greg Alexander and George Norton, leader of Heidrick & Struggles Chief Sales Officer practice, discuss what CEOs need in the chief sales officer role.

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