In our continuing series on revenue performance, we outline the journey of an unproven revenue performer, including steps to take to drive revenue with predictability.
Examples of unproven performers include:
- A new company, post minimum viable traction (MVT), with little or no revenue performance history
- An established company that is launching a new product or entering a new market segment
If you identify yourself as in the unproven quadrant below, then your primary strategy is to land early sales, establish your position in the marketplace, support your valuation, and feed your growth.
QSS Revenue Performance Matrix
Our research of hundreds of B2B companies, corroborated by findings of a leading research organization, shows that unproven performers share the following attributes:
- 70% do not meet their year 1 revenue forecast
- Less than 25% of their forecasted deals close
- 80% of forecasted deals close for less than their original forecasted value
Being an unproven performer can be a scary and tenuous place to be, but steps can be taken to mitigate risks and optimize near-term traction and success.
Plan and execute a rapid-test-and-learn campaign with a dedicated ‘tiger team’ to quickly test your solution’s fit to the market opportunity. A continuous evaluation and adjustment approach must be taken to maximize progress and effectiveness:
Create the campaign and supporting business plan:
- Identify the differentiators that set you apart.
- Define the profile and personas of your target customers.
- Develop and test your lead generation, sales, and pricing strategies.
- Allocate resources to successfully execute the campaign.
Optimize sales and marketing processes and underlying systems:
- Align the sales process to your buyers’ journey.
- Ensure your CRM setup supports the optimized sales process and that the handoff of marketing leads to sales is well understood and executed.
- Create a campaign reporting package that measures progress of the campaign.
Execute, evaluate, and pivot:
- Launch the campaign according to your plan: strategy, resources, and timeline.
- Track and understand every deal in the pipeline. Why do deals stall? Why do you lose? Why do you win?
- Use feedback from the sales team to question campaign assumptions.
- Schedule formal checkpoints every two weeks to review progress and evalutate necessary pivots.
Quick Start Strategies has helped many clients move beyond the Unproven Performer quadrant. Getting our clients out of the blocks as quickly as possible is exciting and rewarding work.
Where are you in the QSS Revenue Performance Matrix?
Please look for our other blog posts that identify appropriate strategies to move up and to the right on the QSS Revenue Performance Matrix.