Develop revenue generation strategies

Description

Elaborate methodologies through which a company markets and sells a product or service to generate income.

Alternative labels

evaluate revenue generation strategies
launch revenue generation strategies
developing revenue generation strategies
development of revenue generation strategies
develop a revenue generation strategy
produce revenue generation strategies
establish revenue generation strategies

Skill type

skill/competence

Skill reusability level

sector-specific

Relationships with occupations

Essential skill

Develop revenue generation strategies is an essential skill of the following occupations:

Hospitality revenue manager: Hospitality revenue managers maximise revenue generated from facilities such as hotels,  holiday resorts and camping grounds by analysing trends and competition. They assist establishment managers in strategic decisions. Hospitality revenue managers analyse and optimise the financial potential of facilities and manage the corresponding staff.
Tour operators manager: Tour operators managers are in charge of managing employees and of activities within tour operators related to the organisation of package tours and other tourism services.
Spa manager: Spa managers coordinate the day-to-day operations of the spa establishment in order to provide guests with the best customer experiences. They oversee the activities and performance of staff, manage the financial aspects of the Spa, deal with suppliers and run advertising campaigns for the spa in order to attract more customers.
Branch manager: Branch managers are responsible for the management of all the affairs related with a company in a specific geographic region or business branch. They receive indications from the headquarters, and depending on the structure of the company, they aim to implement the strategy of the company while adapting it to the market where the branch operates. They envision management of employees, communications, marketing efforts, and follow up to results and objectives.
ICT presales engineer: ICT presales engineers actively drive and manage the ICT evaluation stage of the sales process, working in conjunction with the sales team. They provide technical guidance to pre-sales personnel and plan and modify product ICT configurations to meet client requirements. They pursue additional business development opportunities.

Business intelligence manager: Business intelligence managers gain knowledge of the industry, the innovative processes therein, and contrast them with the operations of the company in order to improve them. They focus their analysis in the supply chain processes, warehouses, storage, and sales as to facilitate communication and revenue improvement.
Beauty salon manager: Beauty salon managers oversee the daily operations and staff management in a beauty salon. They ensure customer satisfaction, budget control and inventory management. Beauty salon managers set up and enforce salon rules and cleanliness guidelines. They are also in charge of promoting the salon to attract new clients.
Business manager: Business managers are responsible for setting the objectives of the business unit of a company, creating a plan for the operations, and facilitating the achievement of the objectives and implementation of the plan together with employees of the segment and stakeholders. They keep an overview of the business, understand detailed information of the business unit and support the department, and make decisions based on the information at hand.
Chief executive officer: Chief executive officers hold the highest ranking in a pyramidal corporate structure. They are able to hold a complete idea of the functioning of the business, its departments, risks, and stakeholders. They analyse different kinds of information and create links among them for decision-making purposes. They serve as a  communication link with the board of directors for reporting and implementation of the overall strategy.
Medical practice manager: Medical practice managers manage the day-to-day operations of a medical practice. They oversee the staff and business side of the practice.

Optional skill

Develop revenue generation strategies is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Corporate treasurer: Corporate treasurers determine and oversee the financial strategic policies of a company or organisation. They use cash management techniques like account organisation, cash flow monitoring, liquidity planning and control, risk management including currency and commodity risks and maintain close connection with banks and rating agencies.
Policy manager: Policy managers are responsible for managing the development of policy programs and ensuring that the strategic objectives of the organization are met. They oversee the production of policy positions, as well as the organization’s campaign and advocacy work in fields such as environmental, ethics, quality, transparency, and sustainability.
Recreational facilities manager: Recreational facilities managers direct the operations of facilities that provide recreational services such as gardens, spas, zoos, gambling and lottery facilities. They plan and organise the daily operations of the related staff and facilities and ensure the organisation follows the latest developments in its field. They coordinate the different departments of the facility and manage the correct use of resources and budgets.

Department manager: Department managers are responsible for the operations of a certain division or department of a company. They ensure objectives and goals are reached and manage employees.
Product manager: Product development managers are responsible for managing the lifecycle of a product. They research and develop new products in addition to managing existing ones through market research and strategic planning. Product managers perform marketing and planning activities to increase profits.
Service manager: Service managers are responsible for the supervision and coordination of the provision of different professional and technical services to customers. They ensure a smooth interaction with clients and high levels of satisfaction post-service. This occupation includes the provision of policing, correctional, library, legal and fire services.
Chief operating officer: Chief operating officers are the right hand and second in command of a company’s chief executive officer. They ensure that the daily operations of the company run smoothly. Chief operating officers also develop company policies, rules and goals.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Programme manager: Programme managers coordinate and oversee several projects working simultaneously. They ensure workability and compatibility among projects ensuring that overall, each one of the projects under the management of project managers, turn out profitable and leveraging one to the other.

 


 

References

  1. Develop revenue generation strategies – ESCO

 

Last updated on September 20, 2022