While “Remote Work” definitely emerged as 2020’s hottest new business trend, there was another less-showy business trend bubbling just below the surface.
Revenue Operations, or RevOps for short, has been around for a few years, but the strategy is really having its moment. According to LeanData’s “The State of Revenue Operations” report shows that between 2018 and 2019, there was an 80% increase in companies with a Revenue Operations group.
What is it? Simply put, the role of Revenue Operations is to ensure that the goals and activities of the three departments which typically drive revenue — sales, marketing, and customer service — are all synchronized and integrated.
Sounds easy, right? Not so much. We’ve found that companies who miss their revenue goals tend to do so by stepping into the very same three patches of quicksand.
Everyone knows a go-to-market team is only as good as their go-to-market playbook. The thing is, go-to-market strategies have become infinitely more complex, with a large number of tactical elements combined with greater complexity in buying behavior.
To counteract this, RevOps teams need to have a clear, cohesive strategy that incorporates the complexities and leverages technologies to support them.
A great product launch playbook must be equal parts comprehensive, repeatable, creative, and collaborative.
The entire focus of a RevOps group is to reduce friction so your revenue teams (marketing, sales, customer service) can work as effortlessly and efficiently as possible. Things like automation, clear processes, and integrated technologies help reduce that friction for internal teams and for buyers and customers.
We have found that without a clear sales process and systems in place, sales reps are more likely to “go rogue” and do their own thing which may cause problems and confusion.
RevOps’ failure is more likely to happen to organizations whose people, processes, and technologies remain largely siloed and disconnected. Lots of companies suffer from using a fragmented approach. They use multiple disconnected data systems and go-to-market motions across siloed teams operating without orchestration.
Seamless integration allows systems to talk to one another, share data, and give teams the exact info they need when they need it. Ultimately, this integration speeds up the process, delights customers, and brings in more revenue.
A single company-wide solution is needed for the marketing department’s proposals, quotes and contracts from sales, and agreement renewals, and other documents from customer success. A solution must also be flexible enough to allow a team to populate templates with data from multiple data sources.
With an effective strategy, smooth sales enablement, and the right technologies in place, companies can operate more efficiently and resiliently and meet their revenue growth goals.
Establishing a compliant document distribution process will help you reduce risks, and avoid mistakes and gaps in account history.
Have you ever been to a large family reunion? The kind where you’re meeting far-flung branches of relatives for the very first time? They may have the same last name as you, they may have the same CHIN as you, but until you meet that day—you are utter strangers.
Enter the volleyball tournament and the rib cook-off. After spending an entire day relaxing, eating, and having fun with your new-to-you Great Aunt Judy, you now have a frame of reference to grow your connection. The email chain that goes around about the next family reunion won’t be nearly so scary or off-putting. You’ll all remember fondly how Cousin Len ruined the rib sauce with vinegar and how brazenly Granny McGee cheated at horseshoes.
Most large companies are essentially groups of people and processes that have never had a family reunion. Everything feels foreign, everything is disconnected, everyone feels a little awkward. There is no connective tissue. Sharing a document automation system that is easy to use, is like throwing a week-long family reunion. It makes it that much easier to work together and work toward the same goal.