A RevOps Specialist Shares 5 Success Factors

A Triple Digit Growth Model

According to Gartner report titled, Revenue Operations Implementation Guide, 75% of the highest growth companies will deploy a Rev Ops model by next year. And the reason is simple. These models lead to significantly more revenue.

Forrester VP and principal analyst Nancy Maluso reports that companies that align people, processes, and technology across their teams achieved 36% more revenue and up to 28% more profitability.

Equally impressive, Megan Heuer, VP of Research at Forrester, reports that companies that deployed Revenue Operations grew revenue 3 times faster than those that didn't.

It's hard to ignore a model that can deliver triple digit growth. But it can also be hard to implement the changes needed to succeed. Reorganizing functional departments, business processes and information systems from individual siloes to a well-oiled machine is no easy effort.

Departmental processes, fragmented systems, data siloes and resistance to change can quickly eclipse the slated goal to accelerate revenue growth. Or as we say in my home state of Florida, when you're up to your neck in alligators, it's hard to remember that your initial objective was to drain the swamp.

That's why a RevOps specialist can help.

An experienced RevOps consultant brings guidance and expertise to align and integrate the operations, systems, and outcomes that produce scalable growth.

This may mean aligning functional departments to pursue shared objectives. It may require optimizing customer facing business processes to reduce friction during handoffs. It may include integrating business systems to automate end-to-end processes and information reporting. It may even involve consolidating data siloes to achieve a central, shared 360-degree view of the customer relationship.

But more than anything, these advisors share the success factors to ensure that you achieve the strategic objective in the least time and cost.

Here are some of those success factors.

The Drivers That Matter Most

Consider the following 5 success factors if your company seeks more cohesive, consistent, and predictable revenue generation. Or maybe better put, you want to accelerate and increase revenue growth.

1

Leadership & Staffing

Leadership is the crucial starting point. The leader will align and integrate the operations, systems, and outcomes for sales, marketing, and customer service. But you need much more.

You are looking for a leader well versed in promoting a growth mindset and high-performance culture. Someone who can bring together cross functional teams. Somone who can influence change.

You also need a supporting team to orchestrate what may be siloed departments into unified go-to-market motions. As shown in the below research chart, teams range from centralized resources to virtually available staff.

RevOps Staffing

Recognize that unless you have dedicated staff whose performance is measured by increased revenue generation, it is unlikely the company will achieve systemic revenue growth.

2

Organizational Alignment

Revenue Operations is an enterprise-wide approach to business growth.

Getting all revenue contributors to rally around a shared company growth goal, irrespective of their place in the company, is the first step to harmonizing customer interactions and managed revenue execution.

But this often requires business operation realignment.

Most companies will need to morph departmental boundaries and reengineer business processes. It's no small effort but required to orchestrate enterprise-wide customer engagement and systemic revenue generation; in that order.

RevOps Research Results

Orchestrated customer engagement must span departmental boundaries, the customer purchase journey, and the customer life cycle. Integrated processes must be defined for customer acquisition, growth, and retention.

Customers won't endure clumsy departmental handoffs or fragmented services among different departments when competitors offer better customer experiences.

The upside here is that Revenue Operations offers a birds-eye view of the customer journey. It can quickly identify customer friction points and opportunities for improvement.

A phased approach may make sense. For many of our clients, we have found a 2-step process works best. We first align sales and marketing. Then we bring in customer service, and possibly other functions such as R&D or M&A. A sequenced approach can be much more manageable.

One more thing.

Rev Ops is agile. Its outcomes driven. It makes the customer the company's North star. It advances in fast paced, time-boxed iterations. It learns and adapts in rapid sprints. Apply these agile principles and you will accelerate your time to value.

3

High Impact Programs

A RevOps specialist brings more than alignment of people and processes. He or she brings know-how in the forms of growth strategies, go-to-market plans, research-based insights, and best practices.

And they don't just advise what to do, they show how to do it. They provide repeatable methods such as the following:

  • To improve sales performance, a RevOps specialist may share methods to adopt a sale methodology, predictable sales process, strategic account management, guided selling execution, sale opportunity win plans, sales coaching, or price optimization.
  • To improve marketing performance, the advisor may help with brand expansion, revenue engineering, customer intelligence, campaign portfolio optimization, lead management, or sales and marketing alignment.
  • To improve customer service, the advisor may help implement programs to improve the agent experience, the customer experience, quality of service delivery, customer advocacy, and customer retention.

Implementing any one of the above programs will achieve incremental growth.

Implementing a combination of them will deliver exponential growth and demonstrate a much more strategic value of the Revenue Ops team.

4

Technology Automation

Scaling revenue should be a digital, data-driven, and technology fueled effort.

The right technology brings data management, process automation, closed-loop reporting and scale to revenue operations.

But this can be a challenge for companies with legacy infrastructures, piecemeal apps, many data siloes and disjointed analytics.

The strategic solution is to pursue a RevOps tech stack that replaces departmental apps with enterprise applications.

A Revenue Ops tech stack defines a combination of integrated technologies that support end-to-end customer journeys and company revenue processes.

RevTech Stack

It's not realistic to acquire every helpful technology at once. So, the tech stack should be procured using a multiple-year roadmap. The most essential platform technologies should be acquired first. Their payback can then be used to fund the journey.

5

Performance Analytics

The company needs information visibility and predictability. Performance analytics deliver real-time information to measure and forecast results, and swiftly respond to variances. The most common tools include performance dashboards, industry benchmarks, predictive analytics, and insights derived from artificial intelligence.

Dashboards are generally the first tool used as they deliver the right information to the right person at the right time.

Sales Dashboard

The key to successful dashboards is to measure the few metrics that most matter. Too many metrics cloud what's most important.

The most important RevOps metrics focus on the drivers of revenue generation. They reveal the underlying sources of revenue growth, consistency, and predictability. However, line of business metrics are also needed to show how they impact company results. The most important departmental measures include the following:

  • Marketing metrics: lead acquisitions, cost per lead, lead conversion rate, lead leakage, brand impact, marketing's contribution to revenue, and return on marketing investment (ROMI)
  • Sales metrics: sale opportunity conversion rate, sales win rate, sales quota attainment, sales forecast accuracy, and year over year sales growth
  • Customer service metrics: customer satisfaction (CSAT or NPS), customer share growth, customer lifetime value growth, customer retention and cost to serve

Organizing these metrics in a Command Center or similar business intelligence platform will bring real-time visibility to revenue execution and predictability to revenue results.

The Point is This

A RevOps specialist recognizes that growing a company is a team sport and interdisciplinary effort.

And that effort revolves around the two primary goals of orchestrating the customer journey and the company's growth strategy. These goals are linked and symbiotic.

When the goals are pursued in parallel and measured with a plan, the company's revenue contributors will realize a powerful synergy that will achieve significant and sustained company growth.