Are you leaving money on the table?
To accurately answer that question, two things must be true. First, you have to know where the table is and how to see across it and potentially through it. Second, you need to have a plan for how to grab that money and make sure it is never abandoned again. Right?
For far too many brands, in our quest for acquisition, we overlook the opportunities for revenue optimization that may be right in front of us. In today’s age of connected customer experiences and the infinite possibilities that the customer journey can now take, innovation and game-changing ideas can often emerge by rethinking business models. This has never been truer than with the application of subscription business models across traditional commerce engagements to create recurring revenue streams.
But questions immediately bubble to the surface:
- Is your business set up to leave revenue on the table? Can that pattern be turned around?
- Why should marketing be involved in—and leading—the revenue recovery conversation?
- How are new innovations like machine learning and AI being deployed to approach recurring revenue and revenue recovery in bold new ways?
- Are there new insights that can enhance our understanding of the customer by understanding where, when and how a customer prefers to pay? What can we learn from that last mile of a transaction?
- What best practices and lessons can be learned from the leaders in digitally driven commerce? From Angie’s List to LifeLock, how have new opportunities sprung from these business models?
The CMO Council, along with our partner Vindicia, will gather senior marketing and commerce leaders for exclusive dinner round table discussions to gather new thinking, debate old models and identify new opportunities for marketing to lead new growth discussions.