Revenue Enablement, Analytics &
RevenueTEK's Telemetry RT3 data-powered Revenue Analytics & Enablement platform helps CEO's and their sales leaders see the future, react faster, sell smarter and learn quicker - so they can deliver more profitable revenue sooner.
"Whereas buyers and their buying processes have evolved in a world of ubiquitous global communications and instantaneous access to information, most sellers unfortunately remain anchored in the dark ages".
Are you one of them?
Corporate revenue pipelines convert less than 2% of sales opportunities - and that number is declining.
62% of sales rep's don't make quota and 61% of companies fail to make target.
CRM isn't helping
The global CRM market is increasing by 18% per year. In 2018 companies spent $48B on CRM. Yet sales conversion and output continues to decline.
Longer sales cycles
B2B sales on average now take 34% longer to close than they did in 2015.
Training doesn't work
87% of training content is forgotten in 30 days. Companies are spending more than ever on new training models, to little effect. Rep performance has never been worse.
Anaemic lead flows
80% of CEO's don't believe marketing makes sufficient contribution to winning new business. 74% of CSO's agree.
Every year organizations around the world invest more money trying to improve their sales output. Few are successful and those lucky few invariably find it impossible to sustain for more than a few years. In spite of staggering levels of investment, sales pipelines - production systems for revenue, are less productive, less resilient and less reliable than ever.
If you don't believe that's true, consider this. In 2018 $US113 billion was collectively invested by businesses globally on some aspect of revenue improvement; an increase of approximately 7% on 2017. Rather than improving however, total pipeline yield i.e. productivity, declined by a further 8%. In the last 15 years it's fallen by 48%.
RevenueTEK is a specialist revenue risk, analytics and enablement company. We help organisations significantly and sustainably improve their revenues and profitability. By using combination of advanced data analytics, 15 years of accumulated consulting IP and what we call Marginal Gain Theory, we give our clients the tools and knowledge to continually interrogate and analyse their revenue systems, isolate and prioritise their issues and respond accordingly.
Since 2005 we have helped hundreds of companies including some of the world's largest and best known, improve their revenues year-on-year by an average of 24% and by as much as 122%.
From mature businesses in commoditised industries looking for profitable new revenue streams; to early stage businesses seeking to leverage their first successes in one region into others; to Fintech's and other startups with great ideas but uncertain or non-existent revenue models; to some of the world's most successful companies looking to get every last ounce of "juice" out of their marketing and sales machines. RevenueTEK has worked with them all.
The fact that corporate revenue productivity continues to decline is troubling enough. What should be truly frightening though, is that the decline isn't slowing.
Despite billions of dollars spent every year on training, CRM and all manner of other sales-improvement technologies, organisations are still just as frustrated by under-whelming sales performance as they were half a century ago. Actually, they're more frustrated. Between 2006 and 2017, $US210 billion and $US260 billion respectively were spent on CRM systems and sales training, and at least that combined amount again on a combination of Marketing Automation, sales and marketing analytics, recruitment and revenue-related consulting. In the last 13 years, something approaching $US680 billion has been invested by companies around the world in repeated attempts at improving their revenue and margin performance.
Most of that money might as well have been flushed down the toilet. Over that same 13 year period, revenue conversion - the effectiveness of pipeline or funnel conversion, declined by 48%. From 3.7% in 2006 to 1.9% in 2017 - a 6.2% year-on-year reduction, which is staggering compared against the 17% and 8% compound annual increases for CRM and training respectively. While the CRM and sales training industries expanded by factors of seven times and three times respectively, the very problem they were and are supposed to be addressing got worse, not better.
Not only is revenue conversion across industries in chronic decline, CEO’s and their market-facing leaders are still frustrated by lack of line-of-sight visibility or definitive causation between money spent on marketing and sales campaigns and revenue created – or allegedly created. At a time when it has never been more critical to have these things under control.
While external risks such as environmental degradation, cyber-attacks and political instability are relatively well understood, the risks to corporate revenue streams are nowhere near as well understood nor adequately measured or managed. In a world where the margins for error are thinner than ever, marketing and sales decisions still rely more on "experience", semi-educated guesswork and gut-instinct. And in spite of access to more data and advanced analytical tools than at any time in history, analysis and understanding of revenue risks or the true cause-and-effect relationships between tactical interventions and customer reactions remains almost non-existent, still largely driven by subjective interpretations of what customers appeared to do rather than objective data-informed analysis of what they actually did do, when they did it – and more importantly, why.