VRMA
    International 2022Join Now

    How to Build a Revenue Management Strategy

    Track: Data and Revenue Management

    Session Number: 3007
    Date: Mon, Oct 24th, 2022
    Time: 2:00 PM - 3:00 PM

    Description:

    In this session the audience will learn how to conceptualize a revenue management strategy starting from basic building blocks and expanding to more complex and sophisticated detail. They will learn how to break the key levers of revenue management into bite size chunks and relate them to actionable guidelines to inform their revenue management approach. Furthermore the audience will be given examples of how to document these approaches in a clear manner giving them the building blocks to increase the sophistication of their revenue strategy as well as the tools to train and scale a team of revenue managers through documentation.
    Session Type: Breakout Session

    2 Learning Outcomes:
      1. The specific take away is that participants will be have the tools to reflect on their current pricing strategy and translate that into concise documentation they can then use to improve their revenue strategy, record experiential data and communicate to team members and partners. 
        1. Participants will learn a way to break down the complexity of revenue and pricing strategy into its basic building blocks which can be used to develop a strategy in greater detail over time. 
      2. Utilize this method to document revenue strategy for multiple use cases:
        1. Improving revenue performance over time
        2. Scaling a revenue team and providing documentation/foundation for training and delegation of a tasks that most entrepreneurs hold tightly to
        3. Provide a tool set to articulate revenue strategy and expectations to team members, executive team and even owners.
    Session Type: Breakout Session

    2 Learning Outcomes:
      1. The specific take away is that participants will be have the tools to reflect on their current pricing strategy and translate that into concise documentation they can then use to improve their revenue strategy, record experiential data and communicate to team members and partners. 
        1. Participants will learn a way to break down the complexity of revenue and pricing strategy into its basic building blocks which can be used to develop a strategy in greater detail over time. 
      2. Utilize this method to document revenue strategy for multiple use cases:
        1. Improving revenue performance over time
        2. Scaling a revenue team and providing documentation/foundation for training and delegation of a tasks that most entrepreneurs hold tightly to
        3. Provide a tool set to articulate revenue strategy and expectations to team members, executive team and even owners.