RevOps Framework: Getting Ready to Drive Business Growth
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The document outlines the concept of Revenue Operations (RevOps), highlighting its role in driving business growth by aligning sales, marketing, and customer success teams around shared revenue objectives. It identifies key factors contributing to the rise of RevOps and emphasizes the importance of operational efficiency and data integration in enhancing customer experiences. Additionally, it delineates the four pillars of a RevOps framework—operations, enablement, insights, and tools—while also presenting the benefits and key metrics associated with implementing RevOps in organizations.
RevOps Framework: Getting Ready to Drive Business Growth
- 1. RevOps Framework: Getting Ready to Drive Business Growth
- 2. Revenue Operations (RevOps) As businesses today are learning, complete and integrated data can yield far more value throughout the consumer journey, organizations looking to break through these data silos and are turning to RevOps (Revenue Operations), a game changer for customer lifecycle management and revenue growth. “RevOps is the strategic initiative to bring sales, marketing, and customer success together to ensure funnel accountability across the revenue engine. People Aligning teams around a single view of the business with shared revenue targets Data Connecting business and activity data across organizational silos and technology stacks Processes Increasing operational efficiency through integrated cadences. Focus of Revenue Operations
- 3. RevOps Impact on Job Tittle SiriusDecisions data collected between October 2018 and December 2018; suggest that Revenue Operations job titles on LinkedIn are increasing across the board. As per the research, although Chief Revenue Officer roles only slightly outpaced Chief Sales Officer titles, Director Revenue Operations surpassed Director Sales Operations titles by a whopping 68%. Chief Revenue Officer Vs. Chief Sales Officer VP Revenue Operations Vs. VP Sales Operations Director Revenue Operations Vs. Director Sales Operations 33% 21% 73% 31% 09% 05%
- 4. Revenue Operations has emerged as a convergence of several factors, at a time when every company in every industry is striving to streamline functions to deliver customer experiences that are consistent across every touch point. Factors Responsible for the Rise of Revenue Operations The perennial Disconnection between Sales and Marketing Data Customer Expectation of an Integrated Journey The Boom in Subscription Economy The Availability of Machine Learning and AI
- 5. Agreement on metrics RevOps owns metrics from end-to-end, ensuring everyone in Marketing, Sales, Success – as well as Finance, Product, and the Executive team Requirements for RevOps Framework A flawless set of interactions by customers with the company is possible when Marketing, Sales, and Customer Success are aligned effectively. According to research by SiriusDecisions, the alignment among the departments can drive up to 36% of revenue growth. In order to design the alignment the followings are needed to be addressed. Credibility and trust between teams RevOps provides operational metrics that support business operations and decisions – such as showing how Sales and Marketing tactics work in concert to drive revenue Defined ownership of the tech stack With RevOps, a single team owns the tech stack used by Marketing, Sales, and Customer Success. Accountability and ownership go hand-in-hand. Change management Every tool change creates a cascading impact across the team, roll-outs require project and change management, testing, and training to be successful.
- 6. 4 Pillars of RevOps Framework Before diving into the nitty-gritty of RevOps team-building, understanding this framework is vital to the success of standing up a revenue operations team. RevOps has four areas of responsibility: Operations, Enablement, Insights, and Tools. This creates focus by separating the management of internal and external stakeholders. Operations management works across the business at macro- and micro- levels. Operations management Removes friction from your reps, turning an ordinary Sales team into a high velocity. Team Enablement Gives superpowers to everyone from a Marketing Program Manager to Board Insights Team Tools team is responsible for all technology used by Marketing, Sales, and Customer Success Tools Team
- 7. Operations management works across the business at macro- and micro-levels. Operations management works on everything from strategic business objectives to tactical program design; managing resources to ensure every outcome aligns with the needs of the business. Operations management ResponsibilitiesRoles o Sales Operations o Marketing Operations o Project Management Strategy Business process innovation Project and change management Cross-functional collaboration Sales planning and compensation
- 8. Sales Enablement removes friction from your reps, turning an ordinary Sales team into a high velocity, high throughput deal factory. RevOps takes Enablement to the next level – bringing Enablement practices to Marketing and Customer Success. Each enablement effort has compounding effects on your whole business, and you’ll see reps closing more business, faster, with fewer resources. Team Enablement ResponsibilitiesRoles o Sales Enablement o Learning Management o Performance Management Onboarding Coaching Continuous training Professional development Content access and utilization
- 9. The Insights team gives superpowers to everyone from a Marketing Program Manager to your Board. From day-to-day insights to strategic analysis, this team will give you confidence in the decisions you’re making (and the quality of data to back them up). Insights Team ResponsibilitiesRoles o Business Analyst o Data Scientist o Database Developer Data quality and management Data access Operational insights Strategic insights
- 10. The Tools team is responsible for all technology used by Marketing, Sales, and Customer Success – from implementing CRM to social selling tools. The tools team should have a deep understanding of CRM and business processes, in addition to technical capabilities. Tools Team ResponsibilitiesRoles o Systems Administrator o Software Developer Systems administration Technical solution design Evaluation, procurement, and vision of the tech stack Integration
- 11. SiriusDecisions research suggest on average aligned companies enjoy: more profits 15% faster growth 19% RevOps Benefits and Outcomes In addition to better collaboration and more predictable growth, this holistic approach drive growth through operational efficiency across the customer lifecycle. Align Everyone RevOps keeps all departments on the same page by treating Marketing, Sales, and Customer Success as their stakeholders. Create Focus RevOps enables Marketing, Sales, and Customer Success to focus on their goals by taking on operational and technical overhead. Simplify Everything RevOps identifies and removes roadblocks in the customer lifecycle, enabling Marketing, Sales, and Customer Success to move faster. Increase Revenue Through efficiency gains company can grow the amount of revenue each rep can carry, increasing revenue growth with fewer resources. Predictable Growth RevOps brings predictability to the business growth through consistent, accurate measurement., or new strategies Respond to Market Changes RevOps provides communication, training and project management, making internal transitions seamless among the teams.
- 12. Key Metrics for Revenue Operations The primary goal for Revenue Operations is to drive revenue — that means closed deals for sales, pipeline growth for marketing and reduced churn for customer success. Here are just a sampling of key metrics Revenue Operations is accountable for: Renewals and Upsells Customer Churn Customer Life Time Value Forecast Accuracy Pipeline Velocity Sales Cycle Time Cost of Customer Acquisition Annual Recurring Revenue
- 13. i a m m o u l u d e . w o r d p r e s s . c o m Things that Describe ME! A person with intense personal magnetism and a great love of home and family. One of the most important traits of my personality is I am detail- oriented and have a hard time letting something rest until I am satisfied it’s complete and accurate. In my personal time and on my own world I am very sensitive and often think about my childhood and how it affects me in the present. Learning to let go of things is something that will contribute greatly to my happiness and success in life. Besides my professional commitments and responsibilities I am very much fond of bonding with people. In my personal world I used to write poems and short stories. ME about Modhyo Badda, Dhaka, Bangladesh. +8801914538413 iammoulude.wordpress.com mdmoulude@gmail.com FinTech | Digital Payment | Product and Strategy| QR Payment | Entrepreneur | Business Development Md. Moulude Hossain
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