What is the purpose of Revenue Enablement?
“Customer’s Success is the #1 goal of Enablement.
Some enablement metrics we need to consider are
?Decreased customer churn
?Decreased cost of retention
?Increased net promoter score
What else are you measuring Enablement and customer success leaders?”
As I replied there, I think she is on the right track but that this view does not paint the entire picture.
Read on if you are interested in hearing my thoughts on the purpose of Revenue Enablement.
The purpose of Revenue Enablement, of Enablement in general, is to support at least one of the following business outcomes:
- Revenue acquisition (i.e., new sales, cross-selling, and upselling)
- Revenue retention (i.e., churn and return reduction)
- Risk reduction (i.e., avoid getting sued by not following compliance, regulations, and legal issues)
Petek is right, of course, that customers must achieve the goals for which they bought your product/solution.
We have moral, ethical, and business requirements to ensure they meet their goals. If they do, they will likely buy more from us, they will not leave us, and they will not sue us.
Pretty compelling reasons, right?
However, the purpose of Revenue Enablement is more nuanced and requires teams to understand their market, their customers, and the overall business goals.
What if you have clients that are no longer profitable?
Do you want to invest your limited resources on these customers, or are you better served to find new, more profitable customers?
Your business is ever-changing, and the strategies and tactics required to succeed in this complex environment must change as well.
The purpose of Revenue Enablement is to support your company, its customers, and its employees through the journey, investing where it is most appropriate along the way.