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A revenue stream is another name for a sell-through campaign that runs continuously. It runs from target market to transaction. Your CRM is the tool that facilitates a revenue stream. Here's a working formula for building a revenue stream. Track all your contacts, emails and attachments in your CRM.
Reach and Pull, Inform, Persuade, Close (RPIPC)
This is a step-by-step strategy for building a revenue stream.
1. Reach into the market.
A business has a location from which it operates. Marketing has to reach into the market to deliver the company's messages. Your business needs consistent channels of communication into the market at a cost you can afford. Identify a target market. Develop your method of lead generation. Create your marketing campaign and engage the market.
2. Pull your market back in.
Once your reach into a market you need to pull the targeted companies back to your location. After all, the reason we market is to pull people from our market into our business to share our opportunities. Another term for "pull" is "response". You get a response from your marketing and you capture the interest in the form of a sales cycle. The sales cycle is tracked in your contact manager.
3. Inform them about your opportunity.
You’ve reached into the market and you’ve pulled the audience to the location. Now you have to inform them of your opportunity. Sales presentations or demonstrations as well as marketing material are used to inform the market.
4. Persuade them to buy.
We use selling tools such as product features, advantages and benefits to persuade our target market. It takes helping relationships to persuade a customer to buy our products. The sales process is a form of persuasion where we believe in our product and we assist in helping the market to purchase.
5. Close transactions.
Closing a transaction requires transaction processes, product delivery methods, inventory and customer service. “Closing a deal” is a typical sales phrase that signifies the completion of a transaction. Agreements, payment methods, policies and procedures are developed to close a transaction and create a customer.
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