The most important metric a business uses to measure success is revenue. According to a research report from Sales Hacker, 24% of businesses have a revenue operations group. 15.2% are currently in the process. This means that 36% of businesses are either working to get RevOps in place or are already focusing on it.
All elements must work together towards the same goal to create and preserve revenue for a business to be successful. It is important to focus on the core result and align processes and systems within your business. Many companies, regardless of size, are making RevOps a core focus of their business.
Experts and research show that the main obstacle to RevOps adoption is a lack information from business leaders. They don’t know how to organize the department, create a RevOps-centric culture, or how build the right team.
Table of Contents
What are Revenue Operations RevOps, you ask?
RevOps refers to the strategic integration of sales, marketing, and service across all customer relationships. This allows all teams to be accountable for revenue and improves operational efficiency. This comprehensive revenue ops methodology allows for free information flow within departments. This allows for the unification of the technology stack and the processes across all teams.
How does Revenue Operations (RevOps), Adoption within Businesses, work?
RevOps is one of the fastest-growing business functions in the world. The world is changing and so are business operations. It is no longer possible for the sales team to operate independently from the marketing department. A survey was conducted of approximately 2,500 marketing and sales professionals by the State of Revenue Operations 2019. It found that RevOps adoption has increased by 55% over the past year.
How does having a revenue operations focus help companies?
The RevOps department adds trust and credibility and creates structures where metrics are most important. Different departments within a company may have different goals and they might not be able to align with the ultimate goal.
According to LeanData, companies that align revenue engines are 34% less profitable and grow 12-15 times faster than their peers. RevOps teams help businesses build a cohesive alliance with their partners, sales, marketing, customer success, and marketing departments. The strategy can be adopted by all Go-ToMarket teams to unify data, processes, and people. This revenue-focused approach and the associated process development result in:
01. Simpler Operations
RevOps makes everything easier. A revenue operations strategy can help an organization improve company efficiency, eliminate silos, and provide a better customer experience.
02. Aligned Teams and a Focused Approach to Business
These teams in legacy operations are managed according to their roles and have no common goals. Each role has its own goals and each one can be contradicting. RevOps enables customer-facing departments to work together to make sure that every campaign and customer has a quantifiable impact on the sales funnel.
Service, sales, marketing, and other departments can be brought together to achieve common goals, including closing deals and expanding existing accounts.
03. Easier Adaption To Market Changes
The world is constantly changing and your business must be agile enough to keep up with the times. RevOps makes internal transitions seamless by simplifying communications, project management, and training. This smooth conversion helps reduce time to market as well as risk mitigation time due to market changes.
Takeaway
Your business’s ability to operate efficiently is what matters. This requires aligning sales, marketing, and services processes across the company.
However, this is possible only if someone in the company prioritizes and takes on these responsibilities. This function requires proper processes and documentation, as well as flexible and proactive people who are part of a team.
