Revenue Operations or RevOps, in short, it is all about alignment on the operational level. The framework links Sales, Marketing, and Customer Success Teams and includes them across the funnel to maintain their accountability for getting revenue. By adding RevOps to your organization, you will optimize your sales funnel, collect more high-quality leads, and make more money.
Companies with RevOps functions saw a 71% higher stock performance, according to Forrester's study. More than that, these aligned companies typically see 19% faster growth and 15% more profits than un-aligned businesses.
The right CRM helps enable new opportunities in your Revenue operations.
In most B2B Businesses, Marketing, Sales, and Customer Success Departments only interact with customers at defined stages of the customer lifecycle. Practically, they are handing off the customer from one team to the next one: marketing generates leads for the sales reps, which then close deals and turns those leads into customers who need maintenance of the account from the Customer Success Team.
This structure is outdated and typically leads to misalignment, duplication of effort, and disconnection between strategy and business outcomes.
Technology changed significantly the way customers buy. So, most of the buyer's journey is completed before prospects get in contact with Sales. RevOps Framework involves Sales at the earliest stages of the customer lifecycle, influencing awareness and brand through social selling activities and sales initiated campaigns.
In RevOps, marketing is involved throughout the full customer funnel, from awareness to lead generation and, even, expansion. Marketing activities drive new business, cross-sell, up-sell opportunities, and much more.
Also, this framework includes the Customer Success Team before the customer makes the purchase. They see which opportunities are coming, compare new customers to the existing ones, and focus on the most likely expansion opportunities.
RevOps keeps all departments on the same page. This ensures every initiative has a measurable impact on the full funnel. When sales and marketing teams are aligned, they generate 34% more revenue in less time.
The number one benefit most commonly cited of businesses who implemented RevOps is that operational objectives and priorities are shared and agreed upon. Suppose operations teams have separate goals, objectives, and priorities. In that case, operational silos are reinforced, and the teams don't act in the organization's best interest as a whole, but in their own one.
Having shared goals and objectives between operations teams is critical. This allows them to focus on the company's most important strategic initiatives instead of the individual team's ones. This focuses on go-to-market teams on their KPIs, generating leads, closing deals, and expanding accounts.
Also, measurement has a huge impact on this framework's success. Clarity on the KPIs and metrics everyone should be tracking success by is highly essential. Also, to agree on how each one will be counted and measured, so all departments view everything in the same way, has a significant impact, as well.
RevOps identifies and removes roadblocks in the customer lifecycle, enabling Marketing, Sales, and Customer Success to move rapidly. A simple, predictable model gives you the confidence to invest in high growth efforts, like expanding your Sales teams.
When your company has a strong revenue operations team, you operate like a well-oiled machine. This has many positive effects like clear expectations from customers, happier customers, more sales, and predictable growth.
RevOps is a retention-based operation as it is a sales-based operation. It is not just about making a sale; it's about keeping those customers you worked so hard for. Customer Success Team knows the customers extremely well, and since they are a part of the process in the early stages, this builds trust with customers, therefore enticing them to stay close.
RevOps isn't a new phenomenon that fell from the sky. In some regard, it has existed for a long time ago. Now, it's becoming more popular in the SaaS space due to its efficiency. But is this just another buzz word? No, this is as far from the truth as possible. It is most probably how the company's departments will collaborate in the future.
Also, take note that organizational alignment drives improved employee engagement and performance. This offers positive returns for the organization as a whole.
• RevOps is an organizational model that drives growth through operational efficiency across the customer lifecycle
.• RevOps works internally, enabling Marketing, Sales, and Customer Success to drive revenue
• RevOps uses alignment, focus, and simplification to drive revenue growth, help you invest in development, and respond to market changes faster
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