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ROMI Best Practices
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Revenue Attribution Demystified
Revenue Performance Management (RPM) is a set of operating principles/processes that many Best-in-Class companies have in common. In a nutshell, the entire organization is aligned, measured and compensated on their contribution to revenue growth.
For marketers, this means managing the entire lead lifecycle by understanding the marketing activities that both drive and impede revenue growth. For a detailed description of the full RPM story, download this comprehensive White Paper from Eloqua.
The Road to RPM
First of all it takes time. Years in some cases. This requires a fundamental shift across the organization. The bigger the ship, the longer it takes to turn. Adopt a crawl, walk, run strategy.
It requires complete sales and marketing alignment.
Sales is probably already incentivized on revenue. How about marketing? Aligning incentives across both sales and marketing is a sure-fire method of fast-tracking true sales and marketing alignment.
Marketing Operations must own this transformation.
Don't leave it up to sales or marketing to accomplish this alignment. It won't happen without Marketing Operations guiding its adoption every step of the way, enhancing processes and removing roadblocks.
Data Standardization is a prerequisite. RPM relies on accurate data. don't even attempt RPM without data standards fully adopted and in place.
RPM is not easy. This is why so few companies are good at it. But those that have are outperforming the S&P 500 by a landslide, based on Eloqua research.
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