If you Google “What is RevOps,” you’ll see over 2M results appear and that it generally means the same thing across the board. So, what is revenue operations? RevOps, or Revenue Operations is the function of maximizing revenue for an organization across departments.
How do you maximize revenue?
Great question. In RevOps, the goal is to align all stakeholders (including Sales, Marketing and Customer Service/Support) and processes across the funnel to ensure that more prospects are converted into customers and drive business growth.
Why is RevOps important?
Not only can Revenue Operations help drive growth, but it helps ensure that your MarTech Stack is being used efficiently and effectively. At its full capacity, it can break down silos between different areas of the business, position marketing as the driver of revenue, and add value to the company.
When Sales, Marketing, Product and Customer Service/Support are aligned on an overarching vision, these teams can work together to ensure there is a coherent plan in place so the prospect and/or customer isn’t getting random, disconnected emails and messaging.
What is the RevOps framework?
According to the Revenue Operations Alliance – there are four pillars of Revenue Operations:
- Operations – ensuring that processes are consistent across all teams/stakeholders to help improve efficiency
- Enablement– providing the necessary resources and training to all teams/stakeholders
- Insights – ensuring that the right reports and dashboards are created to track a leads entrance and progression through the funnel to help assist with strategy
- Tools – ensuring that the entire tech stack is integrated and working properly
What are Revenue Operations services?
Revenue Operations services span across and can impact several different areas of the business; including, but not limited to, Marketing Operations, Sales, Marketing, etc. It’s important to understand that RevOps services can differ between agencies. But at Obility, our Revenue Operations services include:
- Data Quality – data governance, data enrichment, data cleansing, data mapping, etc.
- Lead Management – lead scoring, lead lifecycle, sales enablement, buyer personas, lead tracking, attribution, etc.
- Lead Nurturing – lead qualification, lead scoring, buyer journey, email nurture, landing pages, automations & workflows, etc.
- Platform Administration – implementation & migration, dashboards & reporting, automations & workflows, optimizations, etc.
Ensuring that your CRM and MAP are not only set up correctly, but are tracking, syncing & functioning properly, and that the necessary marketing initiatives are set up and working correctly is key to helping any organization succeed. Why? Because these RevOps services help make sure that you are not only collecting data, but are able to use that data to help you make informed decisions, as well as, see what initiatives/strategies are working and where revenue can be attributed.
Who are the ‘stakeholders’ in an organization?
Short answer, EVERYONE! But to get specific, Marketing, Sales, Product, IT, Finance and Customer Service/Support. With RevOps, an organization can bring together the activities of all the different aspects of marketing to focus on initiatives, organizational design, best practices, etc.
How do you know if Revenue Operations can help?
When you’re about to work on a project ask yourself, will this project help any one of the following four things?
- Scalability
- Efficiency
- Accountability
- Insights
If yes, RevOps can help.
By 2025, Gartner predicts that 75% of high-growth tech companies will have RevOps for end-to-end revenue production. Don’t be late to the party, start working on your Revenue Operations strategy today and see how it can transform your business.
Learn more about Obility’s Revenue Operations services, or book a consultation today.
