Customer Relationship Management (CRM) is a well understood and defined category of software that aims to help organizations manage customer interactions and relationships.
Enterprise application vendor Altify defines itself as a "post-CRM" company, focused on a category of software that it's calling Customer Revenue Optimization (CRO). According to Altify, CRO represents the modernization of CRM aligned with customer experience to help drive Business-to-Business (B2B) sales.
CRO isn't just an idea -- it's also a new feature set in the Altify Spring 19 release. Among the CRO features is something called Dynamic Account Plans, whereby participating staff can help to contribute toward an account plan. The Chief Revenue Officer in an organization can then determine a structured plan and process to maximize revenue.
Other new CRO features include TeamView Opportunity Dashboards to help visualize what revenue leads exist, and Opportunity Close Plans to help organizations determine what needs to happen in order to close a deal.
"Continuously heightened customer expectations require Chief Revenue Officers and the entire revenue team to put the customer first and to optimize every experience to deliver value," Altify CEO Anthony A. Reynolds stated in a media advisory. "Failing to understand this and to properly leverage Customer Revenue Optimization is the difference between winning customers and losing them."
2019 CRO Benchmark Report
In support of its approach, Altify commissioned the Customer Revenue Optimization Benchmark Study 2019 to help gauge the state of the market. The report is based on a study of 684 respondents worldwide.
Not surprisingly, the study found that 92 percent of sales and business leaders see revenue generation as their primary focus for 2019. The study also found that sales strategy and execution are in need of improvement.
"Sales execution suffers when the team is speaking to the wrong person, or the sales process doesn’t match the customer’s buying process," the report stated. "Better meeting outcomes arise from clear planning and execution."
Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.