Continued shifts in consumer behaviors and the workforce after the height of the pandemic are calling for your digital operations to play a more significant role in securing and strengthening revenue through the economic challenges anticipated in 2023.
As a business owner or C-suite executive, it’s easy to fall into the trap of expecting a single metric to tell you everything you need to know about how well your company is doing. However, this is a mistake. As is assuming that because some numbers are trending in the right direction, everything else will fall into place.
Fortunately, these common key performance indicator (KPI) mistakes and others can be easily fixed once recognized. Take a look at the 8 common mistakes people make with KPIs in business and prep your data for improvements in your company.
A revenue operations strategy, or lack thereof, can make or break your business. Without strategies in place, your business lacks vision and direction, and your team cannot clearly work towards a common goal ‒ meaning it is leaving potential revenue on the table. Yet, creating the necessary strategies can feel like a daunting task. So, where do you start? How can you utilize RevOps strategies to create end-to-end revenue production in your organization? Luckily, that’s our specialty. Keep reading to learn simple practices you can implement.
Do your sales reps do their own thing? Are you able to develop goals, measure results, and adjust expectations and actions based on data or is it a free-for-all? According to recent studies, only 33% of sales reps’ time is spent actively selling1, and 40% of their time is looking for someone to call2. Add to that the fact that up to 70% of the B2B buyer’s journey is complete before a sales rep is ever involved in the process. It’s no wonder companies are struggling to increase revenue.
Chatbots are AI-powered conversational assistants created to communicate with customers without human intervention. Chatbots increase sales by an average of 67%, a crucial fact for any company’s revenue. Another important fact is that 69% of consumers prefer chatbots as a customer service channel. So how do you work them into your RevOps process?
The search for a Chief Marketing Officer (CMO) can be long and expensive, and even more so if the wrong person is chosen and there’s an influx of instability. Therefore, while taking the time to fill the CMO position with the right person, a fractional executive combined with a team of subject matter experts (SMEs) can keep a company moving forward during the CMO search. This is where the Atomic Revenue and IPRO collaboration began.
Business data programs can be full of new and confusing terms, especially if you’re just getting started, and often, many of them sound like they could be the same thing. So what is “business data'' and how do you use it to get the most from your efforts in working with data? Not only is it essential to understand data to help you interpret, track, and measure what is most essential to growing your business, but learning how to use it lends itself to greater profitability.
We’ve compiled some of the data terms you’re likely to come across and examined how they can be applied to support your business’s growth goals.
Atomic Revenue is a revenue operations company built on the talents of a nationwide team of subject matter experts (SMEs). We believe when companies partner on projects to provide clients with services that go above and beyond to solve their issues and increase revenue, everyone wins. Let’s face it, few companies or individuals can deliver end-to-end revenue production in every area of expertise without help. With our partners, we are the unicorn companies are looking for!
“We grow with our partners by increasing the value we can each deliver for our clients. The bottom line is, we’re better together.” — Scott Sinning, Profitability Practice Leader
How did a nationwide commercial real estate company specializing in triple-net lease investments increase gross revenue from $880,000 to $4,482,000 –– a 5x increase –– in four years? The company partnered with Atomic Revenue’s team of subject matter experts (SMEs) who have designed and implemented an optimized digital operations program with a revenue focus.
In my experience, companies that don’t know who they are culturally, what they want from their people, or know why they’re having problems with unmet goals, will come up with a lot of reasons to be displeased with what they have. You may be saying to yourself, “Business owners and managers always know what they want – they want to sell their products or services.” Or more specifically, they want to sell more of their products and services. But at what expense?