Optimizing Revenue Strategies with Legal Insights: The Role of Joint Legal Custody and Health Insurance
Optimizing Revenue Strategies Through Legal Principles
As we pull back the curtain on how to optimize revenue strategies, it is essential to begin with the principles grounded in the law. While the concept of comprehensive joint legal custody agreements may seem exclusive to family law and divorce lawyers, it can also apply to the optimization of revenue strategies as well. Understanding the legal context of joint legal custody and health insurance can dramatically improve the lifecycle of marketing, sales and account management processes.
For example, a combination of custody agreements and health insurance determinations effectively manage the financial responsibility of each parent with a focus on the best interest of the child. While marketing and sales representatives are not dealing with children, they are often working with accounts (customers) that have the potential to grow over time. Similarly, a divorce court’s determination of legal custody jurisdiction sets the stage for allocating support costs so each parent shares in the financial responsibility for all children living in the household (pending) for life, if joint legal custody exists.
In the world of revenue operations, reviews of some of the most successful case studies reveal the following elements of revenue success track record: The elements of what makes a successful revenue program also apply to effectively managing custody and medical support agreements. When implemented correctly, joint legal custody and health insurance agreements deliver the following benefits to the children, parents and state agency: When considering the impact of joint legal custody and medical support decisions, it is important to recognize the parallels between ensuring the financial well-being of a child and allocating revenue responsibilities amongst marketing, sales and customer service.
For example, just as legal custody decisions impact every aspect of the child’s physical, emotional and economic wellbeing, decisions about marketing and sales alignment impacts the entire lifecycle of a customer relationship. Below are additional parallels that are fundamental to effective dating, marriage and divorce processes as well as revenue strategy optimization: Given the overlap between how joint legal custody impacts children, parents and the state agency, it is not a surprise that the best practices promote transparency in communications.
For example, examiners in the best states to work for category require clear communications regarding policies, procedures and elevation opportunities. Similarly, the best divorce lawyers provide their clients with clear documentation about billing processes and ongoing updates about progress and potential issues. Without transparency, the state pain revenue program and family law process have no mechanism for determining how parents share the financial burden associated with healthcare, child related expenses and support.
Without clear documentation, decisions about allocating revenue responsibilities will be made on the fly often resulting in budget and resource shortfalls. In the case of mutual marketing, sales and customer service agreements, risk management strategies should also be documented in order to minimize exposure. The following are examples of what keeping transparency in agreements can do for revenue optimizing businesses: While there are many other considerations when applying precedent from legal decisions about joint legal custody and health insurance decisions to revenue strategies, the most important concept is clear and open communication.
Depending on your business, monthly updates are sometimes more effective than periodic detailed reports. For example, if your business has a high volume of tier one accounts with the premium on managing key account relationships while managing the sales process, weekly updates make sense. If your business is enterprise sales deployed over the course of a quarter or yearly cycle, weekly updates could be problematic to the extent the sales/sales engineering teams focus on 1 or 2 accounts at a time.
As with family law agreements, the key is to keep communication lines open between executives and account managers to ensure the marketing, sales and customer service departments are fulfilling their individual responsibilities. When considering a marriage contract, healthcare, custody, and joint legal custody decisions make a big difference about how much two people are really able to afford. When considering marketing, sales, and account management (or customer success) contracts, there are many similarities to think about to maximize revenue outcomes.
Taking a large picture look at what the outcomes need to be for lead and customer processes to be successful informs the marketing, sales and account management contracting stages, ensuring the best process and results possible. Planning for frequent or regular check-ins about what internal and external factors could affect agreements is advisable to ensure smooth revenue optimization processes.
