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Last updated on Friday, October 11, 2024
The old way of running a company involved a sales operation that largely operated by itself: they took leads from the marketing department and attempted to close them, and then accounting and customer success would take it from there. But today’s companies are recognizing the importance of building a holistic revenue operations strategy.
By aligning your sales, marketing, account, customer success, and other teams under new RevOps strategies, you can maximize the performance of all of your teams and increase revenue as a result. But building such a strategy requires a change of thinking – not to mention time and energy from the leadership team.
This revenue operations guide will break down the meaning of RevOps, why RevOps is important and what it takes to build an effective revenue operations strategy from the ground up.
RevOps is a B2B and B2C strategy that aligns siloed revenue teams and unifies goals in marketing, sales, customer success, support, and finance. It creates a singular framework for data sharing, enabling departments to better understand each other’s operations and work processes. To learn more, read our blog that breaks down exactly what RevOps is and why it is important.
RevOps is all about aligning multiple business departments – marketing, sales, finances, customer support, and so on – to operate more efficiently and grow revenue. Historically, all of these departments have been “siloed,” essentially operating independent of other departments.
This is a problem not just for operations; it’s also a problem for gathering data. The data each department gathers should ideally be flowing to other departments as well. Many companies are rightly trying to get better at this. But their efforts are often disorganized and inefficient – not to mention time-consuming. Accuracy and timeliness suffers as a result.
RevOps addresses these problems, ensuring all departments are aligned and sharing data efficiently.
Related article: Bookings vs. Revenue: Top Mistakes Companies Make When Tracking This Metric
RevOps is a cyclical process that involves a series of lifecycle stages, each of which plays an essential role in driving revenue growth. The following are the lifecycle stages for RevOps:
By following these lifecycle stages for RevOps, companies can develop a comprehensive revenue growth strategy that aligns sales, marketing, and customer success to drive revenue growth and improve customer satisfaction.
Related article: The Optimal Sales Operations Organizational Structure and Why RevOps Must Play a Role
Building a revenue operations strategy should incorporate the lifecycle steps above and should include five steps to ensure you cover everything:
Remember, a good RevOps strategy avoids silos, so review the strategy to make sure all departments are properly communicating under your plan. If not, keep reworking it until it does. It’s vital that you unite all departments.
Related article: How to Build a Revenue Operations Software Stack for a B2B Business
RevOps is about more than just your sales department. What makes RevOps so valuable is how it ensures all of your departments are operating in sync to boost revenue. Instead of your sales department taking on all the responsibility of growing revenue, you ensure that your marketing, accounting, and other teams are pitching in as well.
If you want to improve your own revenue operations strategy and start getting valuable insights to make better business decisions, consider reaching out to revVana. They are experts in revenue operations management and specialize in revenue operations, including Salesforce integration, and can provide a tailored solution that optimizes your revenue processes and helps you achieve sustainable growth. Get a demo today.