Want Revenue? Cut the Friction

Companies aiming to grow revenue can simplify how they operate and embrace a customer-first approach, Sovos President of Revenue Alice Katwan writes in a new PYMNTS eBook, “The New Value Equation: 11 Financial Services Leaders Share Their Vision for 2025.”

In today’s challenging business environment, every company is striving to keep and expand relationships with current customers while also bringing new logos into their portfolio. However, economic uncertainty, increased competition and tighter budgets make this goal more difficult than ever.

Many businesses tend to first look at their sales teams for improvements, which is always a good practice. However, I also urge businesses to reflect on what kind of partner they are. Are you easy to do business with? Do you prioritize your customers, or do you make things unnecessarily complicated?

Throughout my career in the tech industry, I’ve often seen organizations overcomplicate processes and make interactions unnecessarily difficult. For example, if your sales team has successfully convinced a buyer that your solution is the right fit for their needs, why then subject them to endless legal reviews during the contract process? Worse yet, why make an existing customer jump through hoops when they want to expand their business with you?

It’s not just the sales process that suffers. Many businesses have complex workflows for critical areas like customer support, finance and back-office operations, making customers question whether working with you is worth the hassle even if your product is top-notch.

Customer-First Approach Matters 

My advice for companies aiming to grow revenue is to simplify how they operate and embrace a customer-first approach. At Sovos, one of our core values is to be customer-centric. This means prioritizing our customers in everything we do to ensure seamless, frictionless interactions.

When I speak with customers and prospects, I frequently hear stories like, “The product was fine, but we could never reach anyone when we had a problem, and no one ever responded to emails.” In a world where customer acquisition is difficult, losing one over a lack of responsiveness is shortsighted.

Customers come to you to solve problems, not to replace one issue with another. Regardless of how great your product or service may be, customers have limits on what they’ll tolerate before turning to a competitor. Don’t let unnecessary complexity drive them away, and you’ll see your revenue grow.