If you’re looking to maximize customer lifetime value (who isn’t?)… And if you’re trying to unlock recurring revenue in the most efficient and connected way (again – a no brainer for marketers) … well, a Digital Revenue Team could be exactly the thing to help you do it.
But what is it?
It’s a team dedicated to revenue.
Your Digital Revenue Team has one job. Driving predictable, repeatable revenue for the company.
How? By increasing the lifetime value of customers and building loyalty through exceptional, personalized experiences. Getting this bit right creates Forever Customers who, eventually, become brand advocates – you’re best and most effective marketing channel who get their colleagues, their peers, and their contacts to subscribe to your solutions.
The Digital Revenue Team crafts marketing strategies, executes campaigns, and tracks their progress. With the data they gather from these activities, they can then identify strategies and tactics to drive higher engagement and customer loyalty.
Who’s in a Digital Revenue Team?
While your team will reflect your business structure, a fool-proof formula typically includes:
- Web teams to create and optimize web experiences.
- MarTech teams to implement, optimize, measure, and track performance via connected technology stacks.
- Analysts to use data to identify trends and opportunities.
- Sales teams to close deals.
- Customer service teams to create positive customer experiences.
- Marketing strategy and execution teams to find the best programs to achieve maximum revenue.
Together, these functions form an integral part of your digital strategy and help increase customer lifetime value and recurring revenue. While your business will already have these people working separately, unifying them in a Digital Revenue Team means you get all the benefits of breaking down walls, removing siloes, and increasing collaboration and visibility.
How does the Digital Revenue Team work?
It’s actually pretty straightforward. The key is making sure all the individual components of the Digital Revenue Team work together and put the customer first.
By following this three-step formula, you can start reaping the rewards of turning clients into Forever Customers.
- Personal = powerful.
The Sales, Marketing, and MarTech people work together to create personalized offers tailored to individual customer needs. This encourages customers to buy more from you and helps build long-term relationships.
- Unlock the upsell
The Digital Revenue Team should observe, record, and track customer behavior and usage data to identify opportunities for cross-selling or upselling. By offering customers additional, relevant products or services, businesses can capitalize on existing relationships and expand their total revenue potential.
- Retain and grow
With increased customer knowledge, the Digital Revenue Team can design strategies that optimize the cost of acquiring new customers and increase the retention rate of existing ones. This reduces the amount of money spent on chasing leads while keeping existing customers satisfied and making sure they feel valued.
Reaching the Forever Customer
Building a Digital Revenue Team puts you in the perfect position to give your customers the best possible experiences when interacting with your company. By turning one-time customers into loyal fans, and then into brand advocates, you’re creating an army of Forever Customers. And Forever Customers mean predictable, repeatable growth.
Want to learn more about how to implement a Digital Revenue Team, or how to make yours as profitable as possible? Send us a message and we’ll help you on your journey to Forever Customers.