What is Revenue Operations (RevOps)?
Revenue Operations is the management of marketing, sales and customer support to drive growth by improving efficiency and progressing towards a common goal of driving revenue. All the cross-departmental processes are aligned across the full customer lifecycle.
For proper functioning and alignment of different teams, there is agreement on particular decided success metrics. Having a similar goal and KPIs gives a clear vision for all activities and increases productivity. All the teams of different operations work on managing resources to ensure every outcome aligns with the business's needs.
In RevOps, the sales enablement team brings enablement practices to convert more prospects into loyal customers - via using a revenue intelligence platform. Each enablement effort has compounding effects on your whole business, so you’ll quickly start to see reps operating more efficiently throughout your venture.
Benefits of Revenue Operations:
RevOps is a collective effort of all the teams of your business and over time you'll notice a compounding effect and improvement once it's implemented. Here are a few benefits of RevOps:
- Predictable Business Growth: Analysing your business performance and predicting future growth is critical for an organization, as it allows you to confidently make new investments and capture more market share. Implementing RevOps makes your process-oriented towards driving revenue, which will make you able to quickly realize whether your strategies are working. RevOps brings this predictability to your growth through accurate and consistent measurements.
- Increment in Revenue Generation: The improved productivity and efficiency we expect as a result of implementing RevOps will allow each rep to generate more revenue, resulting in overall revenue growth without increasing the needed resources.
- Adapting to Market Changes: As your business grows, your customer base will also expand. This will require some major changes. Whether the transition is CRM re-implementation or introducing new tools or features, you will need to support your team throughout it. RevOps provides communication, training and project management, making internal transitions seamless. Smooth transitions reduce the risk of losing deals and wasting time as markets change.