Revenue Operations (RevOps) creates a cohesive revenue process by aligning a business’s sales, marketing, and customer success teams. In this short guide, we will discuss what RevOps is, why it’s such a big deal, and how you can get started.
The Growth of RevOps
Revenue Operations, also known as RevOps, is on the rise. More and more businesses are understanding how department alignment can decrease costs and increase profit.
According to LeanData’s State of Revenue Operations, there was a 55% increase in the adoption of RevOps from 2018 to 2019. In addition, the proportion of LinkedIn job titles containing “Revenue Operations” is growing, with VP of RevOps titles increasing by 300% over 18 months and Director of Revenue Operations titles surpassing Director of Sales Operations titles by 68%.
So what’s the hype about? Let’s start off by defining RevOps.
What is RevOps?
Revenue operations (RevOps) is a business function that optimizes revenue growth by aligning sales, marketing, and customer success operations. RevOps serves to drive accountability across these different departments for a unified approach to revenue generation.
You may be familiar with the traditional departments in a B2B organization — Marketing Ops, Sales Ops, Customer Success Ops. Each department has its own operations team dedicated to streamlining the productivity of its members. The goals of each team are set by the head of each department.
As a result, each department often develops separate motivations and responsibilities and may use separate technologies or methods to reach their goals.
As you can imagine, this can easily lead to the forming of organizational silos — a gateway for poor communication and a lack of cohesion, which in turn can create data silos that stifle workflow, derail business processes, and damage customer experiences.
To prevent this, businesses have turned to a centralized revenue function that understands the workings of and bridges the gap between separate departments — a function we now call Revenue Operations.
Benefits of RevOps
Hubspot reports that public companies with revenue operations support saw 71% higher stock performance, grew 19% faster, and raised 15% more profit than companies without.
When successfully implemented, a strong RevOps team can offer many benefits, including:
- Addressing tool sprawl for better productivity and communication between teams
- Sharing cross-departmental insights for better customer journey and client retention and expansion
- Facilitating transparency for faster strategic growth
RevOps can provide your company with a significant competitive advantage. However, it’s up to you to find the right revenue leader and qualified operations specialists to truly tap into the optimal alignment for your business.
How to Get Started with RevOps
Successful RevOps teams will carve out higher-efficiency, cost-saving workflows for all the departments they work with. To do so, teams need to invest in these three key steps:
Conduct an audit to identify processes that need improvement. Where do the sources of misalignment occur? How can information be better shared internally? For example, if sales and customer success teams are using different tools to communicate with clients, vital information is likely slipping through the cracks. It will be essential for your team to identify these problem areas in order to find solutions.
Pro tip: calculate expenditures on total resource use. This can reveal areas where your team can both cut costs and align more effectively.
Align your organization with unified tech stacks, training practices, and data systems that match the needs of its users. Consider using AI-based tools to automate tasks like CRM data entry that team members typically find time-sucks.
Identify the key players needed and communicate your plan for growth. Set clear expectations for overarching missions, long-term goals, and immediate next-steps. Choose team leaders to hold others accountable. Ideally, each go-to-market team will have a RevOps project leader.
The RevOps framework above allows for you to hone in on how to establish better cohesion, unity, and efficiency within your business. When successfully executed, RevOps can transform the way your organization drives revenue to optimize your output.
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