Trust me, revenue teams can help B2B businesses maximize profits

Ledger Bennett’s Erin Stuckert has this to say: Revenue teams can really work. This is how.

I bet it is.

Because if your sales, marketing and customer teams are chasing their own goals and moving in different directions, they are not focused on what matters most: increasing revenue for your company.

This isn’t just bad news for the bottom line; this is bad news for your customer relationships. Because disconnected teams can’t deliver a connected customer experience.

But I experienced an alternative: creating a team dedicated to driving revenue. This produced dramatic results. I am convinced that the same approach can work for any B2B business.

Let me explain.

Company revenue before individual goals

Years ago I worked for a company in a senior marketing position. Following a strategic review, we were tasked with achieving an ambitious annual revenue target.

It seemed like the perfect opportunity to rethink the way we worked together. This led to the creation of a single team fully focused on increasing the company’s revenue.

We didn’t call it the revenue team at the time, but that’s what it was.

Includes people from sales, marketing, product and data. We collectively looked at each department’s costs, pricing and strategy for improvement opportunities.

For example, we realized that our margins were too low for certain product lines, which was losing us money. So we quickly adjusted our prices. We also used insights from our data team to identify our most valuable customers. We then developed strategies to target these customers more effectively to drive engagement and loyalty.

By working as a single team instead of separate departments, we have achieved numerous other major victories. Not only did we hit our annual revenue goal, but we also found a proven, consistent model for long-term business growth.

The same model can work anywhere. And if you want to get started, here are three things you need to know.

1. Change starts at the top

Your leaders have to be 100% behind the idea of ​​a revenue team, or it just won’t work.

In the above scenario, we had a supportive CEO and President who made it clear that the business goal for revenue came first, not individual goals. And it gave everyone the confidence to commit fully to the process.

It’s also important that leaders give the revenue team the autonomy to create and execute a plan. This requires some relinquishment of centralized control, but it is essential that the team feels supported and empowered to make decisions.

2. Leave the ego at the door

Collaboration is an integral part of a strong revenue team. So early on in the process, think carefully about the personas you’re assembling.

You want people to put company revenue ahead of their own goals and priorities. Not everyone will be comfortable with that, so you need a group of people who can focus on the bigger picture, recognize the merits of competing ideas, and frankly, just get along.

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3. Create a culture of honesty

Honesty is at the heart of the revenue team. That’s because in the process of prioritizing the company’s revenue, team members need to look under the hood of every department (including their own) and be open to what can be improved.

Long-established processes may need to be replaced. Entire strategies may need reworking. As part of these reviews, department heads must be prepared to acknowledge (and then support) any changes to their current way of working.

None of this is easy, but an honest team open to change is much more likely to succeed.

Building a Revenue Team: Easier Than You Think

From driving revenue to maximizing customer lifetime value, I’ve seen the impact of the revenue team firsthand. And while it’s not something that can be implemented overnight, it’s easy to get started.

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