Target 2020: Get Better Results from Strategic Planning
According to Gartner, 56% of time spent on strategic planning is wasted. Short-term thinking, operational myopia, resource constraints, and an understandable fear of making the wrong move in shifting markets all contribute to the problem. Here are N3’s recommendations for how you can approach 2020 differently for better results.
Bring Your Most Valuable Customer Data into One View
In the current data–driven sales environment, it’s easy to get overwhelmed with numbers and dashboards and miss the critical data points that will help you better understand your customers and generate more revenue.
Trying to manage data manually has simply become a losing proposition. Leverage automation and AI to mine the data for you and deliver the insights your sales reps and channel partners need as fast as they need them.
These enabling technologies also reveal immediate patterns of sales rep performance and marketing disruptions so you can apply emerging best practices, based on changes in the customer journey, quickly across your sales team.
Make Sales, Marketing + Customer Success Fluid
A recent SiriusDecisions survey showed that while 78% of B2B companies use agile methods to develop products, only 23% use these methods in sales and marketing. Aligning Sales, Marketing, and Customer Success to the same goals and increasing their interaction will help you:
- Retain customers
- Increase cross-sell, upsell, and revenue expansion
- Enrich marketing, sales, and service messaging
Maximize Your Profit Margin from Recurring Revenue
Recurring revenue from software as a service (SaaS) will continue to be a cornerstone of profitability in the coming year. SiriusDecisions confirms that even small calibrations in customer lifetime value and customer acquisition costs can drive significant profit. Change your point of view about Customer Success as a cost center.
Tools such as AI and predictive analytics are no longer futuristic ideas – they are now vital to gaining a better understanding of your customer, their current pain points and future needs. When you invest in this strategy, Customer Success becomes a critical component of your revenue stream.
Take a Closer Look
Read N3’s digital transformation solution brief to learn more about the technology, techniques, and tools that make for a successful strategic plan.