Every business unit is measured by its ability to support revenue growth. This is especially true for go-to-market teams like marketing, operations, and sales. The field of enablement and, by extension, Seismic, is designed to help organizations prioritize activities that have the greatest impact on revenue growth.
As a revenue enablement software provider, Seismic offers our customers the technology they need to deliver meaningful buyer engagement that leads to growth. But that’s just one part of the equation. To unlock revenue growth at scale, organizations need to go beyond tools and technology and embrace cultural changes that make their teams more efficient and effective.
At Shift ’24, a Seismic customer, Sam Buitendag, shared a unique formula that helps organizations do just that. We’ve turned the formula into a model for achieving predictable, sustainable revenue growth.
If you’re interested in evaluating and optimising your own revenue-generating activities, we’ve developed a comprehensive Revenue Growth Formula Workbook to guide you. If you’re short on time, keep reading to get a high-level overview.
Introducing the Revenue Growth Formula
The Revenue Growth Formula is a simple yet revolutionary equation that evaluates the quality of your team’s actions, and how challenges like distractions directly impact revenue. Let’s take a closer look!
Revenue Growth = ((Activities × Quality) / Time) – Distractions
Variable 1: Activities
Your field teams’ activities are the foundation of your revenue engine. Whether it’s emails sent, calls made, pitches delivered, or demos scheduled – there are seemingly endless activities that contribute to revenue growth.
It’s important to note, however, that some activities are more valuable than others. As you begin to evaluate your own organization, you’ll need to understand whether your field team’s activities support your organization’s strategic goals. For a deeper dive into how to assess and prioritise these activities effectively, read our in-depth blog post on improving key activities.
Variable 2: Quality
As always, quality over quantity is critical. Like a band that’s off-tempo, with members playing different notes, the quality will suffer. The same goes for go-to-market activities.
To be effective, every member must play together in harmony. Quality reflects how effectively activities are executed. Personalized, research-driven pitches are higher quality than generic pitch decks. Proactive follow-ups with resources tailored to the content and context of a recent meeting are high-quality activities.
When you think about your field teams’ activities, do you find that their effort and attention to detail match the high expectations of your customers or clients? Your answer to this question will help you to assess the quality of your activities.
Variable 3: Time
Efficiency is best measured through time. Assess your team’s activities by understanding their completion times. If manual data entry or content personalization slows them down, valuable time may be wasted.
When organizations have the right tools and technology in place, they can quickly become more efficient. Tasks like researching contacts or tailoring a pitch deck go from taking hours to just minutes.
Variable 4: Distractions
Distractions are the variable most organizations overlook, even though they naturally occur. They come in a variety of forms, including organizational shifts, unclear priorities, and even tools that make work harder, not easier.
Eliminating distractions requires your field teams to have a firm understanding of what matters most to your business and its goals. Because when distractions run rampant, it’s easy to lose focus, drain energy, and move away from what matters most.
Let’s do the math!
Now that we’ve previewed the formula for revenue growth, let’s apply it to your own organization. Success in revenue growth requires organizations to change their culture and adopt revenue enablement tools that focus field teams on activities that support organizational priorities.
If you’re not satisfied with your answer to the equation, you’re not alone. Seismic routinely works with our customers to fine-tune their strategies and unlock revenue growth. If you’re ready to optimize your results, please schedule your Seismic demo today and let us partner with you on your journey to revenue growth.
Don’t forget to explore the Revenue Growth Formula Workbook to measure the quality of your organization’s activities and their impact on revenue growth. Happy growing!