Influenced Revenue

When it comes to discussing the parameters that influence a company's profit, we often focus on gross profit, net profit, and other factors. But there's an underrated metric that seldom gets its due recognition: influenced revenue. It's a crucial component that has the power to transform your revenue strategy and increase sales.

As someone responsible for a company’s revenue growth, you might often find yourself mulling over the sales cycle and unraveling the matrix of revenue influences. Influenced revenue is a keystone metric that many businesses need to pay more attention to, in order to understand and enhance their growth trajectory. In this article, we shall cover influenced revenue in detail:

• What is influenced revenue?
• Why is it crucial for your business?
• How can you track it?

What is Influenced Revenue?

In the broadest sense, influenced revenue is the total amount of money that has been influenced by a particular business activity, such as a marketing campaign or a sales call. Essentially, every buyer action that can be linked to a revenue-generating activity is considered influenced revenue.

It is not always easy to identify the activities that contribute to your revenue. Customers today interact with brands in multiple ways, ranging from digital platforms to offline activities. Influenced revenue provides visibility into these complex sales cycles by tracking numerous touchpoints, helping you understand what's working and what isn't in your sales or marketing strategies.

Understanding the Vital Role of Influenced Revenue

Apart from bridging the gap between marketing ROI and sales performance, influenced revenue is vital due to the following reasons:

• Accountability: It aids in demonstrating the value of different marketing and sales techniques by attributing revenue to specific activities.
• ROI: It supports you in demonstrating a tangible return on investment for various marketing channels or activities.
• Data-Driven Decisions: It stimulates data-driven decisions by highlighting the activities that generate the best outcomes.
• Alignment: It promotes sales and marketing alignment by encouraging these teams to collaborate and credit mutual efforts in revenue generation.
• Optimization: By identifying which marketing programs or sales campaigns contribute most to revenue, it allows you to double-down on successful strategies and scale back on less effective ones.

How to Track Influenced Revenue: Effective Tools and Techniques

While maintaining the accuracy of influenced revenue can be challenging, the task has become more manageable with modern technology. Between sophisticated Customer Relationship Management (CRM) platforms, marketing automation systems, and AI-driven tools like Aomni, you have multiple tech avenues to implement influenced revenue tracking.

There are four key aspects to tracking influenced revenue:

1. Set Clear Goals: Before starting, define what influenced revenue means for your business. Depending on your business nature and sales cycle, influenced revenue can mean different things.

2. Unifying Data: Use unified marketing attribution models that factor in every touchpoint along the buyer's journey. Unified attribution data provides a holistic view of your consumer's journey, offering insights into which marketing efforts have the most significant impact on driving sales.

3. Use AI Tools: Leverage AI-powered tools like Aomni. They aggregate data across numerous channels, providing a comprehensive view of customer behaviour. Aomni helps you track real-time account research, competitive insights, and personalized sales content in less than 15 minutes, thereby significantly impacting influenced revenue.

4. Frequent Analysis: To keep track of performance, perform regular influenced revenue analysis. This continuous examination helps you to refine your strategies and stay informed about your business's health.

Conclusion

In an era where analytics plays a massive role in business decision-making, focusing solely on gross or net profit might blindside you to greater growth potential. Influenced revenue provides in-depth, granular insights into the driving forces behind your business's growth. It helps you maximize the effectiveness of each marketing and sales dollar spent, while propelling faster growth.

In a nutshell, influenced revenue is more than just a metric; it's a crucial tool that empowers your growth strategies. Recognizing and tracking it is the first step towards a more holistic, data-driven approach to revenue growth. Consider leveraging AI technologies like Aomni, which conveniently and effectively aids in tracking influenced revenue, empowering you to make informed decisions and strategize accordingly.