Overcoming Challenges in Implementing a Revenue Enablement Model with Sales and Marketing
Implementing a revenue enablement model has become a crucial strategy for organisations aiming to drive growth and maximise revenue. However, this journey is not without its challenges. Let’s delve into the obstacles that companies might face when adopting this model and explore potential solutions.
Understanding the Concept: One of the initial hurdles is ensuring that the concept of revenue enablement is well understood across the company. Lack of awareness, particularly in sectors like technology, requires concerted efforts in education and evangelization. CEOs need to spearhead these efforts to get everyone on board.
Company Culture: Company culture plays a pivotal role in the successful implementation of revenue enablement. Overcoming entrenched views, especially among senior executives, and fostering a culture of collaboration and understanding between different functions are critical steps.
Leadership Alignment: Having the right leadership who comprehends the benefits of the model is paramount. Ensuring alignment across the leadership team is essential to break down silos and facilitate smoother implementation. Agile smaller organisations may have an advantage over larger ones in this regard.
Removing Silos: Silos between teams pose a significant challenge. While acknowledged as detrimental, removing them is expected to be difficult. Achieving alignment between business functions and departments is crucial for success.
Business Process Revision: Adopting a new enablement model often necessitates revising existing business processes. This is particularly challenging for organisations that have grown organically or through acquisitions. A structured revenue enablement work stream within senior leadership can help track and monitor progress effectively.
Change Management: Implementing change at scale requires robust change management strategies. Simply conducting training or communication isn’t sufficient; ensuring that behavioural changes stick amid a fast-paced environment is crucial.
Finding the Time: One of the biggest barriers is finding the time to address such a fundamental change. Prioritising revenue enablement requires a compelling business case to demonstrate its significance amidst competing priorities.
In conclusion, while implementing a revenue enablement model brings immense opportunities, it also comes with its fair share of challenges. Addressing these obstacles requires a concerted effort from leadership, fostering a collaborative culture, revising business processes, and effectively managing change.
For more detail on these challenges and practical help on how to solve them, please download our CRO Revenue Enablement Report.
