Customer revenue optimization (CRO) software helps sales organizations increase revenue from key accounts by aligning with other customer-facing functions, such as marketing and customer service, to become an extended revenue team. The software harnesses knowledge from throughout the business to understand customer needs and deliver outcomes that fulfill them at any point of contact. This maximizes the vendor’s revenue per customer by maintaining an active relationship throughout the customer life cycle.
An evolution of CRM software, CRO relies on data from that system to fuel intelligent interactions. Tools within a customer revenue optimization system may include relationship maps and organizational charts, sales analytics, customer account planning, automated deal renewal, or other applications that support winning bigger deals through better understanding of the customer.
Sales teams are the primary beneficiaries of a CRO implementation, and are usually the ones who are considered to “own" it. However, like CRM, it becomes more useful with greater levels of adoption. The software can surface more insights and recognize more opportunities when it has more interaction data to digest.
To qualify for inclusion in the Customer Revenue Optimization category, a product must:
Integrate with a company’s CRM software
Provide customer data, communication tools, and automations for managing customer interactions at all points
Map revenue team activities to customer outcomes
Leverage CRM data via algorithms or AI for insights about sales team effectiveness, forecast accuracy, and revenue attainment
