Technology has transformed business for the better. Access to data-driven solutions, process automation, smart sales forecasting, and other technologies has allowed businesses to reach their best potential.
Though the impact has been positive for the most part, there has been a challenge that not so many of us anticipated – increasing complexity and siloed organizations (especially when not optimized properly). Yet, companies, these days, stand to benefit more from a holistic approach to revenue.
The solution? Revenue Operations, fondly referred to as RevOps.
So, What Is Revops?
RevOps is more than just a business methodology. It’s a B2B and B2C strategy that businesses can use to align siloed revenue teams and processes. RevOps joins up your marketing, customer success, finance, support, and sales teams, ensuring that they are working towards similar goals.
A good example is when a business’s customer service department shares customer purchase and satisfaction data with the sales team to facilitate improvements and enhance service delivery.
Businesses can team up with RevOps experts like RevPartners who have mastered how to do RevOps right to eliminate the miscommunication and disjointed business goals challenges that arise from having siloed departments.
Is Sales Ops the Same as RevOps?
Revenue Operations (RevOps) and Sales Operations (Sales Ops) both involve customer interactions, but they have different processes and goals. Sales Ops has the main purpose of streamlining the sales process of a business, while RevOps focuses on optimizing revenue growth.
Sales operations typically revolve around finding the most effective ways to sell products better and faster. RevOps, on the other hand, is founded on the following 3 main objectives:
- Reducing revenue leakage, so that the business retains the majority of what it earns
- Better pricing of items for the best conversion and margin rates
- Utilization of customer data to identify the most rewarding revenue opportunities
How Can You Enforce Revops in Your Company?
Since RevOps is all about unifying the different teams in your company, the following things need to happen for RevOps to become a reality in your company:
- You have to identify the unified targets that, when worked towards by all departments, will foster revenue growth
- You should align all the processes of your business with the targets that you want to hit
- You have to make certain company data (customer data, especially) easily accessible to the relevant departments
- You must analyze data from different departments across the company to ensure that you are making informed decisions from a holistic approach.
How Will Revops Benefit Your Business?
In the end, it’s all about making sure that RevOps delivers the best results for your business. In that light, expect the following benefits:
RevOps aligns your teams with the set goals
Disjointed team objectives compromise the vision of your company and create unnecessary divisions. RevOps comes in to improve communication, aligns team irrespective of where they stand within the organization, and break all silos. That way, everyone will speak the same language – the language of revenue success.
Better accuracy in forecasting
Collecting data on a single truth framework increases the reliability of the data and creates the right ground for making reliable decisions. You can forecast not only the revenue growth of your business but the overall growth of the company as well.
Operational efficiency
For your business to succeed as a whole, you need a strategy that increases operational efficiency, and that’s what RevOps does. Thus, your sales team can sell better as your marketing team constructs effective campaigns.
In Summary,
Yes, RevOps is more than just a methodology – it’s an advanced strategy for revenue success. And it’s only when you get it right that you will see the desired results.
That’s why teaming up with a top-ranking RevOps provider like RevPartners should not be out of the question. You will benefit from the expertise and best practices that help your business stand out.
