Everyone likes to compare their performance to others, whether in sports, health, or business. For example, in pickleball, players use ratings to gauge their skills relative to others, and in healthcare, bloodwork results are compared against normal ranges to assess health. But how do you measure and compare your business’s revenue generation capabilities?
Until recently, there was no standard way to evaluate your marketing, sales, and overall revenue generation performance against other companies. To fill this gap, we’ve developed the Healthy Business Score to measure your ability to generate revenue consistently, predictably, and at scale.
To calculate your Healthy Business Score, we assess your proficiency in six key areas: process, resources, strategy, tactics, campaigns, and technology. You need to be at least 80% proficient in each area to achieve an effective revenue generation system. Here’s how we break down each area:
1. Process
A systematic revenue generation effort hinges on well-defined processes. We evaluate the following:
- Revenue Team Meetings: Are they held weekly? Are they consistent with the same attendees and a standard agenda? Are post-meeting actions followed up?
- Issue Resolution: Are issues surfaced and resolved during these meetings?
- Planning Process: Do you have quarterly strategy sessions and monthly planning sessions to prioritize and organize work?
2. Resources
Adequate resources are crucial for generating leads, sales opportunities, and new business. We look at:
- People: Do you have the right and sufficient personnel? Are they in-house, agency, or contractor resources?
- Leadership Alignment: Is the leadership team supportive of the investment, direction, resource allocation, and timing?
3. Strategy
A robust strategy is essential for success. Key components include:
- Unique Value Proposition: Do you have a compelling and remarkable story?
- Goals and Investment: Are goals clearly defined and agreed upon? Is the investment aligned with these goals?
- Buyer Personas: Are your target personas well-designed and prioritized?
4. Tactics
Executing the right tactics is critical. We assess:
- Prioritization and Testing: Can you prioritize, test, and optimize tactics effectively?
- Website and Content: Does your website tell your story, attract visitors, convert leads, and nurture prospects with engaging content?
5. Campaigns
Beyond basic tactics, personalized and omnichannel campaigns are necessary. We evaluate:
- Campaign Design and Execution: Are you selecting the right channels, building, running, and optimizing campaigns?
- Investment and Metrics: Are you investing appropriately, setting quantifiable expectations, and tracking metrics?
6. Technology
The right technology underpins all other efforts. We look at:
- Automation: Are repetitive tasks automated to allow focus on higher-payoff activities?
- Analytics: Do you have the tools to analyze performance data and uncover insights?
- Database Management: Is your prospect and customer database clean, segmented, and organized?
The Importance of a Healthy Business Score
A high Healthy Business Score indicates that your company is well-equipped to generate revenue consistently. If your score is low, you need to address the identified weaknesses to improve your revenue generation efforts.
In today’s competitive landscape, achieving scalable and predictable revenue growth requires proficiency in these six areas. By regularly evaluating and improving each aspect, you can ensure your business remains healthy and continues to grow.
