By Calvin Smith
Aragon Research just published a press release announcing our predictions for the future of customer revenue optimization. So, what is this new market, exactly? What can it do for your sales teams?
CRO is an automated and intelligent methodology that will help sales organizations improve their performance.
What Is Customer Revenue Optimization?
Customer revenue optimization (CRO) is an emerging market recently identified by Aragon Research. It automates the sales process into a set of definable actions that sales reps and sales managers need to take in order to win deals, grow accounts, and maximize revenue. For any sales rep, these are three ideal results. But how does CRO help to ensure these outcomes?
The Key is Consistency: CRO Provides Repeatable Processes
The automated software platform CRO allows for sales teams to have a repeatable process. Too often, reps face an inconsistent sales approach—sound familiar? CRO seeks to eliminate inconsistency and establish a more stable approach. This is done through an applied methodology and is critical for sales leaders to ensure their teams are strong across the board.
As a sales rep proceeds through the sales process, a CRO platform will suggest the next steps they should take. Because a CRO platform can see all of the steps in all of the deals in the pipeline, guidance to sales reps and managers becomes more effective and more accurate over time. Whether a sales professional is just beginning their career i and needs structure, or they’re a proven rep looking to grow their accounts and are seeking a higher retainment rate, the CRO platform can help maximize their time and effectiveness.
Future of CRO
According to a recent report published by Aragon Research, the market for CRO will grow to over $3 billion by end of year 2024. Moreover, by the end of year 2022, it is predicted that roughly 40% of enterprises will institute a CRO platform. Companies who deploy a CRO platform are seeking to improve their customer engagement rates along with establishing a competitive advantage over those who neglect to incorporate a CRO platform.
Bottom Line
CRO is seeking to eliminate the inconsistency within sales processes and sales organizations. This is done through a structured, intelligent and applied methodological approach. Organizations, when utilizing CRO effectively, can expect to win more deals, watch their accounts grow, and see revenues maximized.
You can learn more about CRO by reading Customer Revenue Optimization: Automate Sales or Get Left Behind. This extensive 14-page note provides excellent analysis into the market size, market demand, and overall growth opportunities for CRO.