When I say “Revenue Performance Management” to marketers, I usually get one of these three reactions:
1. “Tell me more!”,
2. “I’m busy. My team is busy. I don’t have the time.”
Group 1 – you “get” me.
For the rest of you: Listen up. New research from Aberdeen says you should look fondly, and without fear or malice, upon RPM:
- RPM “isn’t a new TLA (three-letter acronym).” It’s a crystallization of existing practices that lead to better performance from marketing. (And here’s a fun video definition of What Is Revenue Performance Management?)
- RPM is worth understanding, because companies that consistently contribute more year-over-year to their company’s revenue have implemented RPM practices. Translation: The winners are believers.
- Chances are pretty good that you are already doing some of the things that are inherent in RPM: “Many marketers are implementing RPM today, albeit incrementally and/or piecemeal,” notes the Aberdeen report.
What does that mean? It means that you’re not as far away from measurable improvement as you might think. With the investment of a little time, you could put yourself on a clear path to join the ranks of the high-performers. (Those, by the way, are the people that are recognized by peers, have an easier time when called to validate their activities to management, and get promoted to better roles because they can prove that they’ve contributed.)
What to do now? Take a look at the Aberdeen research and see how you compare to the companies they surveyed.