Increasing Revenue
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Why initiate a project for increasing revenue?
An increase in the number of providers of similar products and services leads to the emergence of generic offers and with it the increasing importance of the role of buyers when reaching decisions upon the selection of an appropriate provider. As a result of a growing number of providers, the strength of the buyers increases, influencing the adaptability of business operations and the supplies from the suppliers to cater to their specific needs. The loyalty of the buyer is less and less dependent on the product and price of the supplier and more and more to the adaptability of the total supply, the means of communication, accessibility, and post sale services directed towards a specific buyer. Acknowledging the fact of strengthened competition, and the increasingly smaller entry limitations, finding available market niches is almost impossible. Because of the changed marketing terms of the business, the aim of business operations in particular is to keep their existing buyers and to offer additional and adapted products – services, and to lure new customers with adapted offers. The knowledge on proper (potential) buyers and their specific needs is a necessary prerequisite for a successful sale, supported by narrowly adapted market activities during the buyer’s entire life cycle of the buyer.
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What is part of a revenue increasing project?
The methodology for the realization of a project directed at the raising of a company’s revenue is based on the model of managing relations with customers (CRM – Customer Relationship Management). The CRM is based on changing the conditions in the business market economy and it enables the adapted modernisation of the buyer’s business operations from the provider firm with the purpose of raising its profitability.
The methodology of CRM is divided into three basic complexes: I. the CRM strategy, 1. the CRM index, 2. the voice of the customer (business model), 3. CRM technological infrastructure, 4. CRM execution play, II. Introduction of CRM and, III. Managing and maintaining the CRM. The structured approach is a condition for the oriented and controlled change of the existing way of operations of the company.
Image: The methodological approach to CRM for increasing the revenue of the company -
Case in practise
Reference project: Formation of CRM development vision of the company
- More information on raising revenues Increasing_Revenue.pdf