RevOps: Time To Evaluate Your Strategy

B2BBusinessMarketingStrategyBusiness OrganizationB2B SalesRevenue OperationsRevopsCRMMarketing AutomationStack Tech

Nov 26

Evaluating Your RevOps Strategy

A Revenue Operations strategy is not just needed in large enterprises. Any B2B business looking to have consistent growth needs to develop a RevOps strategy. But how do you know if you’re really in need of a RevOps strategy? Ask yourself the following questions:

Does your company have a culture of partnership and trust across marketing, sales, and customer success
Are each of those groups aware and invested in what the others are trying to accomplish?
Do you have visibility into all points of the customer journey?
Are your processes automated across the revenue engine?
Is your customer and prospect information consistently recorded in a CRM tool?
Do you know what tools other teams use?
Does your organization have a unified data platform or technology stack across the organization?

Each ‘No’ answer represents areas of potential revenue leakage. Therefore, if the answer to any of these questions is ‘No’, it’s time to explore a RevOps strategy.

Quick Tips to Establishing Your RevOpsStrategy

If your organization is committed to maintaining consistent revenue growth, it’s time to establish a RevOps strategy. But before establishing a RevOps strategy, it’s important to know that it takes time and consistency. Here are a few tips to begin growing your business with a RevOps strategy:

1. Get Help. This is NOT a DIY project.

Behind culture, resourcing is the greatest challenge to RevOps adoption as many companies do not have the internal resources to drive an effective RevOps strategy. Also, internal resources are often accustomed to the segmented and siloed culture that hinders revenue growth. This, in many ways, limits the perspective needed to adopt an effective strategy. Also, going at it alone can be very costly prior to recognizing any benefit and thus discouraging.

2. Know Who’s Responsible for RevOps

There’s no one-size-fits-all solution for RevOps because each organization has its own nuances. But in establishing a RevOps strategy, it’s important to know who will be responsible for RevOps. This responsibility should be broken down into:

1) executive ownership and leadership; and
2) functional ownership and accountability. For example, a centralized RevOps strategy must have executive sponsorship. Depending on the organization, RevOps responsibility may rest with a Chief Revenue Officer, Chief Operating Officer, or even the CEO. Functionally, revenue operations can be centralized into one department or integrated across various departments. The structure of your RevOps team depends on your organization. Nevertheless, it must be known who holds the responsibility for RevOps.

3. Audit the Customer Journey

As stated earlier, revenue growth lies in the ability to provide a seamless customer experience across the entire customer journey. RevOps, thus, breaks down the barriers across marketing, sales, and customer success that would hinder that seamless experience. But to do so, you must know each touchpoint of the customer journey from prospect to renewal.

Throughout this journey, how are your customers engaging with you?
What parts of the organization are they interacting with
How are those experiences perceived?
When they are transferred to a different group within the organization, how are those transfers managed?
How easy or difficult is it for customers to find answers and do business with you?
How valuable are your interactions with prospects or customers throughout their journey?

By auditing the customer journey, you gain perspective on where current gaps may exist and you are able to identify areas of potential revenue leakage.

4. Develop Data Consistency

The challenge with marketing, sales, and customer success operating independently is they often employ their own sets of tools and rely on their own datasets. But much of the data that is used within the separate groups can be used across all groups and improve the collective functionality of the entire organization. Data consistency is the process of keeping the data uniform across the different groups and systems. Developing data consistency can initially seem overwhelming.

However, there are a few tips that can put you on the path to data consistency sooner rather than later.

We can go into greater detail on these tips later.

Decide on a centralized [CRM] system.
Start with a subset of your data. Start small.
Determine key uniform data fields that will be important to RevOps.
Establish uniform data policies.

5. Identify Redundancies in Software and Tools

Operating independently, marketing, sales, and customer success teams often view their issues and needs in the context of their individual teams as opposed to viewing their needs through the lens of the company’s revenue engine. Therefore, they often select software and tools that solve their department’s needs. This often results in software redundancies. 37% of leaders say their teams have between 5 and 10 tools (including CRM) across marketing, sales, and customer success.

In many cases, these tools are redundant. Software redundancies not only prevent effective communication and data consistency across the organization, it often results in unnecessary costs. By identifying software redundancies, the organization can reduce costs, streamline processes, and enhance the overall customer experience.