Revenue operations, commonly referred to as RevOps, is a holistic, strategic approach to aligning and optimizing all revenue-generating functions within an organization. The Key to Business Growth.
This strategy unites traditionally siloed sales, marketing, and customer service teams. Along with finance and other key departments, to create a unified, collaborative ecosystem focused on maximizing revenue growth and customer satisfaction.
The primary goal of revenue operations is to streamline processes. Consolidate data, and implement efficient technology solutions that enable data-driven decision-making.
By breaking down barriers and fostering collaboration between departments, revenue operations aims to:
Increase operational efficiency
Improve customer experience
Drive sustainable, scalable revenue growth for your b2b business
Let’s dive into some key takeaways in more detail.
Aligning Marketing, Sales, and Customer Service
While the historic division between sales and marketing has begun to thaw in recent years. Most companies still have two teams, two leaders, and often two very specific agendas.
In this regard, customer service is rarely at the revenue table. Making it even more difficult to generate revenue from the current customer base.
This really needs to change, and fast. The role of revenue operations is a way to bring these three teams together once and for all.
Having one person working to consolidate revenue from an executive perspective. And collaborating with the leaders of each of these three areas is a positive first step.
Revenue Operations and Technology
The person in charge of RevOps is almost always also in charge of the technology that supports revenue generation in the b2b company. Customer relationship management (CRM), marketing automation. The corporate website, and customer service tools are the elements that make up the technology stack.
To maintain revenue, you need to understand how technology can help your business grow. And create use cases that highlight how it can actually support faster development.
A use case is a specific scenario or situation that describes how a user interacts with a system, product, or service to achieve a goal. It outlines the steps, actions, and interactions between the user and the technology. Providing a detailed description of the capabilities and benefits the system provides.
Here’s an example
If you need to shorten your sales cycle, CRM can help in several ways. By defining improvements, the RevOps leader can optimize CRM to achieve these specific business outcomes.
In many cases, companies have outdated technology that is preventing them from meeting revenue goals. Having a dedicated person who can identify these issues, find solutions, and then apply technology to those solutions adds tremendous value.
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Choosing the right technology
There are thousands of revenue-generating technology website optimization seo techniques options on the market today. Knowing which one is right for your business, your team, and your specific needs can be a challenge.
Analyzing, selecting, and implementing new technologies cm lists for marketing, sales, and customer service is a big project in itself, as is training your teams and optimizing the tools over time.
Since many of the best revenue growth options involve tools that span CRM, marketing, web, and customer service, it makes sense for your RevOps resource to be responsible for implementation, training, ongoing optimization, data analysis, and progress reporting across all three revenue areas.
Trials and Tests
Once you have your system up and running, you should be able to benchmark many of your key performance indicators (KPIs) to see where you are at the beginning of your journey to repeatable, scalable revenue growth.
Once you have these benchmarks in place, your goal as a b2b company and expectations for the RevOps role should improve each month.
One of the best ways to get month-over-month growth in your KPIs is to run trials and tests in all three areas. This means testing landing pages, sales emails, changes to your sales process, customer service follow-ups, and even cross-sell or upsell scripts.
These trials should be run every month by an experienced person.
Continuous Optimization
Continuous optimization is crucial to continue generating leads and revenue. These are small fixes that may not require a lot of analysis to justify.
For example, it is critical that your business website loads quickly. When you find pages that are very slow to load, you should fix that, no testing needed.
Another example would be content publishing
When you find your most visited pages, you should make sure you have the right content to drive conversion on those pages. Missing content should be added as part of this optimization effort. Again, no testing is needed until the new content is released.
Finally, analyzing your content marketing efforts can be considered continuous optimization. Which blogs are getting the most views and which ones are converting the most? Sharing this data with your marketing team is key so they can adjust your content calendar to align with what people are actually interested in.
Analytics and Reporting
This is one of the main areas where a revenue operations person adds a lot of value. Today, data and analytics are everything. Marketing, sales and customer service are no longer an art, but rather a science that needs to be treated as such.
The key is not to create dashboards, but to have a person who can analyze the data, understand the opportunities and develop a long-term action plan.