What is RevOps? Reduce Friction and Streamline Communication by Implementing Revenue Operations Today!
by Michael O'Mara, on Sep 28, 2021 2:08:36 PM
Marketing is more important than ever. The technology required to get ahead is even more vital. With all of the options to choose from, it can be difficult to identify which technology adds meaningful value to your workflow! If you’re not careful, you’ll end up bloated with software solutions that promise you one thing, only to underdeliver. That’s no good.
This is why you need to zoom out and think bigger than software solutions. Sure, your tech stack is a core component of automation and optimization. But it’s only a piece of the puzzle. You need an approach that tracks growth the same way your current system tracks performance. You need Revenue Operations. Better known as RevOps.
Have you been recently telling yourself the following?
- Nothing we try seems to be working.
- Our internal data and systems are a mess and we don’t know how to fix it!
- Nobody is working together and it’s making everyone stressed out.
Revenue Operations isn’t just for people in need of a change. It’s just as effective for companies looking for that extra edge.
In this blog, we’ll dive into the details around RevOps, who’s responsible for it, how it impacts your internal processes, and how you can begin to apply RevOps today to transform your business.
What is RevOps?
RevOps is aligning your organization’s sales, marketing, and customer service and optimizing the areas where they all intersect.
Your marketing does not exist in a vacuum. In fact, it’s the pipeline direct to your sales team. Your marketing team develops strategy and content for your clients and customers, which impacts their satisfaction. This may seem obvious, but friction and responsibility to improve may not be so clear. RevOps uncovers and addresses the common problems affecting your team that you might be blind to.
Though company goals vary from industry to industry, they generally fall between two key factors: revenue and growth. So does RevOps! Here are a few key metrics that measure RevOps success:
- Customer lifetime value: The total worth of a customer’s business over the whole period of their relationship
- Annual recurring revenue: Money that comes in every year from a subscription
- Sales cycle time: Total number of days it takes for a deal to close, divided by the total number of closed deals
Even companies that have their revenue and reporting all figured out can still struggle with quality control, communication, and complex structural obstacles. Simply put, no matter what business you run or who you are, you will experience friction at some point in the sales process. When you experience friction, so do your customers. RevOps is a great way to solve internal friction and streamline customer satisfaction.
A key thing to remember: RevOps implementation and support takes time. Budget your expectations, and your actual budget, accordingly.
RevOps is an ideal strategy and system for B2B companies in need of more revenue. Sure, that’s pretty broad. But no matter what, RevOps can help improve some or most aspects of your business so you can stay competitive and grow.
Who is responsible for RevOps in your business?
Traditional organizational structure is siloed by mission and tasks. Departments are disconnected from customers and data-driven decisions. It can be decentralized and difficult for your employees to believe in your brand and values when they barely know what’s going on or why. That confusion leaves customers just as confused too. And when customers don’t understand what’s happening, they look elsewhere.
Now that you understand how RevOps can help you, where exactly do you start? Who is responsible for implementing, maintaining, and reporting everything RevOps?
Well, it’s a bit tricky. RevOps is still a new workflow concept. There is no one definitive structure, team, or department template that we can point to. It will vary depending on company scale, industry, and existing revenue structure.
Think of a RevOps leader as a pillar of your leadership team. A Chief Revenue Officer, or CRO, has a hand in just about anything that touches revenue generation. This is a role and responsibility that changes day-to-day. The CRO may develop a pricing strategy, consult on demographic segmentation, or conduct customer satisfaction training.
The role is everywhere because everything about your business contributes to revenue.
Why it’s time to adopt RevOps today
Sales, marketing, and customer service alignment is vital for the continued growth of B2B companies. A well-executed, replicable RevOps system can solve the challenge of consistent revenue. It’s an exciting, promising way to grow smarter instead of guessing and failing.
How RevOps impacts sales and marketing
If you’re familiar with sales enablement, you may be asking yourself, how does RevOps differ from it? Think of RevOps as a high-level approach that uses strategies, like sales enablement, to boost revenue and reduce friction. One area that RevOps improves is sales!
Sales do not align with marketing on their own. While sales enablement occurs between members of each team, the customer is often left out of the conversation. That cannot happen!
When you develop a frictionless, effective internal process, you boost revenue and delight customers. More money and happy customers results in a smoother internal process. RevOps is a wonderful feedback loop!
Think about your sales and customer service teams. Are they aligned right now?
Think about marketing and customer service operations? Is everyone on the same page?
More times than not, sales and marketing are seen as the start of a customer journey, while service is the end. RevOps tosses that notion aside and bluntly states that sales, marketing, and customer service are integral parts of your customer’s journey from start to finish. This is how you keep your customers happy during a sale and why they’ll be back for more later.
Optimize revenue with Sauce Marketing
Conversations and conversions happen in more places than ever before. Align your teams so that they can better serve your customer and solve their problems. This begins by adopting RevOps, a better way to keep your customers happy and your business thriving.
Sauce Marketing implements RevOps strategies for our clients and our teams. We understand in order to have happy customers, you need focused team members that leverage story, sales enablement, and customer success into long-term financial success. It’s easier said than done. But here’s the open secret: you never have to do it alone. We’re here to guide you through RevOps right from the start. Instead of struggling to work together and be on the same page, reduce friction and streamline your communication.
Request a risk-free call with a Certified Growth Guide to discover just how empowering an effective RevOps strategy can be for you and your business.