Stumbling across this blog suggests you know it’s time to start using revenue operations (RevOps) in your business - you just don’t know what the telltale signs are.
Although it’s still a fairly new concept, RevOps adoption grew by 55% from 2018 to 2019 and companies with a RevOps strategy grow 19% faster and are 15% more profitable. So, you can’t waste time either.
Here’s a little more on what RevOps is and some glaring signs on whether it’s the right time to start using RevOps in your business.
What is RevOps?
RevOps is responsible for aligning a business’ operating functions supporting the sales, marketing and customer service organisations. The function aims to maximise an organisation’s revenue potential - a single team serving every single revenue-generating business unit that consolidates the historically siloed teams.
In other words, you get a holistic view of your revenue streams. No more silos. No more frustration. One team owning the operations across all those teams to remove inefficiencies.
Signs it’s time to start using RevOps in your business
There are usually some common symptoms that show up when you don’t have a RevOps function in your business. Check out some of the telltale signs below and if any sound familiar, it’s time you went all-in on RevOps.
You have a complex tech stack that’s full of bugs
The bigger your company is, the more people you have working in the company. And the more people you have, the more complex your internal tech stack gets. Because each department has its own preferred tools and what sales might use daily, marketing and services maybe don’t even know it exists in the business.
With so many tools, your teams are likely to get confused. Some tools might also become redundant as they won’t be relevant to everyone. RevOps consolidates the acquisition, implementation and tool management under one team. This will save costs and also increase adoption once the teams are trained.
If you’re suffering from this problem, it’s time to give RevOps a go.
Your workflows are confusing
Sometimes, you can’t avoid friction and inefficiencies, especially when you add more people to your team and an added layer of complexity when data isn’t clean or up-to-date. One of the most common problems is knowing when one department needs to shift over leads and customers to the next.
With a lot of people involved, it can be tricky. Anyone suffering from this issue needs to ensure there’s a dedicated person who owns and manages the customer experience as a whole while simplifying the workflows. So, if your workflows are more confusing than a Christopher Nolan movie plot, it might be time to start using RevOps in your business.
Your current platform is giving you a headache
You might have the people to help solve your problems, but if your CRM isn’t playing ball and helping you out, you’ll only run into more hurdles. You can only do so much with the data you have. If your CRM is giving you messy data, you can’t solve the problem.
Using a CRM platform like HubSpot, your RevOps teams will have features like transparent reporting and flexible API. By pulling everything into one central hub, it’ll make all the moving parts a lot smoother.
Doing RevOps is one thing, but having the right CRM is another. Here’s a quick glimpse into the brand new HubSpot Operations Hub, where Digital 22 Director and Founder, Rikki, runs through the workflow tools.
These are a new set of automatic tasks designed to make life easier, without using external systems for these logic-based rules. The result? Your CRM stays up-to-date.
Your data is a mess
It’s unlikely everyone in the company has access to every single software to use by the teams driving revenue. Without this, accessing data is quite a challenge. What’s also difficult is diverging goals between departments as you can’t figure out what metrics are important to track.
As departments are traditionally siloed, there are disconnected data and metrics that don’t match up. WIth RevOps, teams use a single source of truth to measure and analyse the entire funnel. One entity oversees the data and tools used to track revenue flow through a business.
This reduces friction; you can achieve joint goals and finally address the problems of overlapping tools and messy data.
Your departments hate each other
Sales teams complain about the quality of leads marketing gives them. Marketing teams don’t think sales are pulling their weight. Customer support teams believe sales and marketing aren’t setting them up for success properly. Sound familiar? This isn’t easy to measure but if you’ve noticed this is a problem, it can harm productivity and morale. Not good.
This all comes down to disjointed priorities and disconnected data. When this is in your business, everyone points the finger at each other. Nobody trusts each other and resentment builds up. A RevOps team removes team silos by focusing away from departments at an individual level and adopting a collective mindset, looking at the revenue flow from a company-wide level.
There’s a clear disconnect and RevOps brings these entities together to provide cross-functional, effective support. If you want to create a thriving work environment with accurate data, shared priorities and plenty of trust and accountability, you need a RevOps team.
Your current process isn’t working and you don’t know what’s working
You have a strategy for each team in place and it’s been that way for many years. You know it hasn’t managed to be a huge success, but you’re holding out hope that the process will eventually work and changing it will just bring you a bigger headache.
If that sounds familiar, your process needs to change - and fast. RevOps builds strategies for every stage in the customer journey. This keeps the experience consistent and delightful for prospects. Plus, businesses constantly evolve, so processes should evolve too. If your process isn’t working, it’s likely to be outdated by now.
A RevOps team will involve every relevant team to create new strategies and training materials that work. If you have no idea what’s working, a RevOps team can solve this. They’ll look holistically across your business to understand issues around churn and ROI to fix them.
RevOps can be a game-changer for your business. It’ll drive transparency and accountability where it’s needed and ensure all of your revenue targets are aligned. If you found yourself admitting the signs in this blog are true in your organisation - you guessed it - it’s time to explore more on RevOps to see what it can do for you.
Getting started with RevOps - plays designed to help you succeed
RevOps is relatively new, yet more businesses are adopting the strategy. To help you catch on fast and achieve successful adoption, we’ve created a new, insightful RevOps playbook filled with 15 valuable plays to help you on this journey.
We’ve included plays on pre-adoption, how to implement RevOps in your business, the main pillars to focus on and loads more. To avoid getting left behind in the RevOps revolution, make sure to grab your playbook using the link below.