There has been a significant shift in how companies are thinking about their revenue.
Revenue Operations (RevOps) is an evolving discipline that interconnects sales, marketing, operations and customer success to drive efficiency improvements, revenue growth and deliver a better experience for the customer.
A RevOps strategy ensures a common understanding and agreement across the entire company for its go-to-market strategy, execution and measurement to drive growth. By aligning your marketing and sales decisions with a RevOps strategy, this process drives significant efficiencies as the entire business is focused on the same objectives which quickly starts to maximise revenue opportunities.
The success of a RevOps team relies on the alignment of four key pillars:
Align tricky process gaps by taking a birds-eye view of marketing, sales and customer success operations to optimise and grow with the bigger picture in mind. Find opportunities to detect and correct pain points, identify more efficient connections between marketing and sales to reduce friction in sending over key opportunities, and plan for the future. Understand your customers' goals and challenges and align to help them succeed and grow their businesses.
Enable your teams to prioritise their focus on their customer-facing tasks. Create an environment that is customer-centric, ensuring that your Teams understand the customers' priorities and where your business can add value to help achieve these priorities. Make sure that your business is marketing to good fit prospects that meet your predefined ideal customer profiles, also known as buyer personas.
What insights is your business gathering from prospects and customers? Is that information being delivered back to the rest of your business?
Build processes that collect the correct information by implementing a sales qualification methodology such as MEDDIC. This standardises the information collected, ensuring it can be used to increase the effectiveness in your sales process. Your customer data is key to the success of your business, so being able to easily measure things like the cost of customer acquisition, renewals, upsells and forecast accuracy will serve as vital insights to drive more revenue.
Does your tech stack help your team engage effectively with prospects and customers? Do the various elements of the tech stack work in sync with each other? Are you getting accurate insights into their impact on the business? This step requires you to optimise your tech stack to make sure no stone is left unturned on the road to revenue growth.
Each team in your business will define success in a different way, but a fully developed RevOps strategy aligns all teams and departments critical to generating and maximising revenue, ensuring each plays a part in contributing to revenue goals. With everyone working towards the same objectives, they are able to effectively collaborate and consider how their strategies support the rest of the business.
And this alignment doesn’t just come from your teams having more discussions about their strategies, your tools need to talk to each other too.
A significant enabler of a RevOps Strategy is the technology driving the concept. RevOps is almost impossible without robust integrations and automation connecting your tech stack.
Many organisations have a number of different platforms for content, emails, ads, sales tools and automation creating a siloed environment where it is difficult to ensure all the tools talk to one another. Having a best-in-class, all-in-one CRM platform that holds your sales, marketing, customer success and automation tools in one place means everything works in sync, driving your business objectives.
Using a Platform such as HubSpot, your team can be fully in control of their own automation and integrations to power their individual and team activities. They can not only deliver better on key performance indicators, but they can also easily generate KPI reports that provide your management team with accurate line-level data. Making it easier for you to reject uncertainty and use quality data directly from your activities to drive your decisions.
HubSpot CRM is your single source of truth and empowering your RevOps team with this platform results in more predictable business growth and better go-to-market performance.
“I didn’t trust marketing, I suspected they’d simply spam my accounts and burn all the bridges.”
In the past, poor communication and competing priorities between sales and marketing teams could breed a culture of protectionism. With RevOps strategies, you can align misaligned departments, and replace low-quality data and uninformed decisions with transparency.
If you need your business to better adapt to market changes or launch new offerings with visible ROI, a well thought through RevOps strategy will help you achieve the growth you are capable of achieving.