Glossary
RevOps (Revenue Operations)
DEFINITION
Revenue Operations (RevOps) is an approach that aligns operations across marketing, sales, and customer success along the full customer lifecycle to ensure all teams are kept accountable to the organization’s revenue and breaks the silos between these teams. This is done by ensuring the organization has agreement on metrics, lead process, and tech stack. A RevOps team will do all the work behind the scenes to ensure each operational team is aligned and super effective at doing their jobs.
The retail landscape is radically changing with the advent of online shopping. With increased competition, more opportunities to connect with interested clients, and better ways to capture potential buyers’ interest—businesses are scrambling to adapt to these new changes.
One new aspect of successful companies enabled by modern technology is Revenue Operations, or RevOps. This new approach to sales and marketing leverages technology and collects consumer data to boost revenue and business success.
But what is RevOps exactly, what are its goals, why do organizations both large and small pay so much attention to it, and what can you do to leverage it for more impactful marketing in your company?
What Is Revenue Operations—and Why Is It So Essential?
According to an article from Forbes, many products nowadays are so similar in function and target demographic that differentiating them so that customers can choose one over another is becoming a significant challenge to marketers.
Instead of focusing exclusively on product features, smart companies must advertise a superior user experience powered by modern tools like automation, artificial intelligence, and machine learning.
To that end, they invest in Revenue Operations training for their staff, enabling them to craft the ultimate user experience that puts your business above the competition.
The Aims of a Revenue Operations Training Program
Despite what its name may imply, Revenue Operations actually comes from the field of marketing and sales. The employees in these departments dig for important sales data and use new technologies to improve marketing and advertising efficiency.
However, one hurdle to success is that marketing and sales teams are often separate and cannot properly collaborate to maximize their benefits. RevOps aims to improve the user experience by aligning sales and marketing efforts around the customer.
Some key responsibilities of RevOps are:
- Strategy management for the planning and alignment of marketing and sales departments
- Implementation of technology and its integration into projects
- Optimization and innovation of business and marketing matters
- Data analysis and reporting
So instead of setting your goals around your departments, set them in regard to the customer experience. Deliver the right marketing message to the right potential clients with RevOps.
How To Enhance Revops and Sales Development in Your Organization
To center your sales around how you can give added value to your customers, keep everyone focused on the user experience rather than the performance of individual departments in your business.
Strengthen your business’s marketing through RevOps by:
- Enabling cooperation between sales, marketing, customer service, and other parts of your RevOps team. Allow them to share data efficiently and communicate feedback.
- Collecting high-quality data on potential clients, such as demographics, preferences, challenges, and needs. Share it with the sales team, so it can appeal to the client’s profile whenever necessary. Receive this information from multiple channels, whether it’s usage data, surveys, or otherwise.
- Monitoring performance via KPIs. Examples include new leads per month, page views, follow-ups, conversions, and customer satisfaction ratings.
- Leveraging technology, like marketing automation tools, client tracking, web analytics, and content management systems (CMSs). A CMS is an easy way for employees in all divisions of your RevOps team to communicate quickly. Other tools can help generate, prioritize, and follow up on leads to push for conversions.
The result is a more efficient and cost-effective marketing strategy that will result in high revenue, more customer loyalty, and superior competitive offerings compared to other businesses.
Focusing on the user experience is the doorway to taking on this new world of commerce, and RevOps is the key. That’s why it’s important that your company take the time to understand what RevOps is and how it impacts your organization.
