If I say that a lot has been said and discussed about RevOps, then I’d be lying.
But, that is exactly what TCC is here to change.
To talk about RevOps, to make you aware of how crucial it is for your brand health, and the ABCs of it.
Because I don’t wish to overwhelm you, we will start with the basics of RevOps, and move towards dotting the Is and crossing the Ts in the following blogs.
What is Revenue Operations (RevOps)?
RevOps, or Revenue Operations, is a business function that aims to maximize an organization’s revenue potential. When I say business function, it is as normal as marketing, accounting, and development operations that happen across your organization.
Now, how does RevOps drive revenue?
RevOps does this by aligning the sales, marketing, and customer success teams around a shared set of goals and processes. This alignment helps to break down disconnects between departments, improve communication and collaboration, and ultimately drive more revenue.
Yes, the lead complaints you come across, stating misleading information from marketing, and a different version of it from sales – that won’t happen again with RevOps.
Examples of RevOps
Of course, if I say it like this, it’s not that you’ll understand every little part of it.
It took us 20+ years in the industry to get our concepts clear, so it’s only fair that you take at least 20 minutes to understand it.
So, here are a few examples of RevOps in action:
- A RevOps team might create a shared CRM system that all sales and marketing teams can use to track leads and opportunities.
- A RevOps team might develop a process for setting and tracking sales goals that is aligned with marketing and customer success goals.
- A RevOps team might create a playbook for onboarding new customers that ensures that they receive the best possible experience from all departments.
- A RevOps team might help train and mentor your sales, marketing and customer service teams for aligned communication about the brand.
- A RevOps team might set up a streamlined communication between marketing, sales and customer service teams, so as to ensure that all activities happen keeping the business goal in mind.
Now that you have some understanding of RevOps, let’s move ahead.
Benefits of RevOps
There are many benefits to implementing RevOps for your brand, including:
1. Increased revenue
RevOps can help to increase revenue by improving the efficiency and effectiveness of sales, marketing, and customer success.
Not only that, but it can also uncover upsell and cross-sell opportunities, improving customer retention and driving revenue growth.
Highly aligned organizations grow 19% faster and are 15% more profitable[1].
2. Improved customer experience
RevOps can help to improve the customer experience by ensuring that all departments are working together and have the same messaging across to deliver a seamless customer journey.
3. Reduced costs
RevOps can help to reduce operational costs by eliminating duplication of effort and introducing processes to automation.
4. Increased agility
RevOps enables B2B SaaS companies to be more agile and responsive to market changes and customer needs, as it fosters rapid experimentation, learning, and iteration.
5. Improves Decision-making
RevOps enables brands to use the power of data, and thus make solid data-driven decisions for business growth.
Not to mention, RevOps provides a better overview of the entire revenue cycle, thus helping you with a more predictable and reachable revenue forecasting.
6. Supports Scalability
RevOps provides a framework that can easily scale with the company’s growth.
As the business expands, the processes and strategies developed under RevOps can adapt and continue to drive revenue growth.
7. Simplified Tech Stack & Automation
RevOps can help evaluate and streamline the various tools and software used by the sales, marketing, and customer success teams.
This can lead to cost savings and increased effectiveness.
How to Get Started with RevOps?
In 2021, 8% of B2B organizations had implemented a fully functioning RevOps model, while 37% were either building or planning to build one[2].
If you’re interested in getting started with RevOps for your brand, here are a few steps you can take:
Step 1: Assess your current state
The first step is to assess your current state of operations. This will help you to identify areas where RevOps can help you to improve.
Step 2: Develop a plan
Once you have a good understanding of your current state, you can develop a plan for implementing RevOps. This plan should include the following elements:
Goals: What do you hope to achieve by implementing RevOps?
Processes: What processes will you need to put in place?
Technology: What technology will you need to implement RevOps?
People: Who will be responsible for implementing RevOps?
Step 3: Implement your plan
Once you have a plan, it’s time to start implementing RevOps.
This will likely be a gradual process, as you will need to make changes to your existing systems and processes.
Step 4: Measure your results
It’s important to measure the results of your RevOps efforts so that you can track your progress and make adjustments as needed.
In Conclusion
Of course, if all this shebang about RevOps implementation overwhelms you, TCC is here to help with a detailed RevOps consulting service.
RevOps is a powerful tool that can help you streamline your operations, implement practical approaches for business growth and improve your brand’s performance.
If you’re looking for ways to improve your organization’s performance, RevOps is a great place to start.
2 thoughts on “RevOps 101: Understanding the Basics of Revenue Operations for B2B SaaS”
Comments are closed.