Every day, most businesses talk about alignment in some form or another.
Today’s marketing landscape is more different now. Misalignment of sales and marketing teams causes drops in sales and revenue, so it’s been a hot topic for many organisations in the SaaS industry.
For the past 25 years of technological advancement, the concept of removing the silos between marketing, sales, and customer success has always been a dream of leaders.
The term Revenue Operations or RevOps has entered the vocabulary of growth leaders as a full-fledged discipline to answer the challenge of misalignment of different teams within the organisation.
But the main question here is, have you already adopted this approach within your organisation?
If not yet, here are the top three reasons you need to adopt Revenue Operations.
1. Improved collaboration across teams on a streamlined data
Okay, so what is RevOps?
In essence, Revenue Operations is a structural strategy to improve the collaboration between their sales, marketing, and service/customer success operations teams.
Getting a thorough data perspective is the most significant problem for many companies, especially now that we’re in a hybrid work environment.
Teams require integrated, trustworthy data collection to make informed decisions, as data can be spread across various, fragmented platforms.
43% of sales and marketing people said “lack of accurate/shared data on target accounts and prospects” was the biggest challenge for aligning sales and marketing departments.
Teams have historically performed better than individuals when working toward a simplified outcome. This eliminates friction and makes the entire process go more smoothly.
Collaboration between Go-To-Market teams is essential to any business’s success. Even though 89% of company employees feel good communication is highly essential, 8 out of 10 people rank their own company’s communication as ordinary or bad.
This is where RevOps comes into play.
If your organisation is currently experiencing any of the issues below, Revenue Operations is critical to implement your business process right away:
- Data isn’t synchronising freely and accurately in systems and tools
- Data is disorganised, inconsistent, and/or challenging to obtain
- Customers are handed off between marketing, sales, and service in a clunky process
- Teams aren’t working together or using different data sources
One of RevOps’ primary benefits is shared data reporting, allowing cross-functional teams to collaborate more easily.
When teams work together to achieve a common goal, they efficiently attain those objectives.
To learn more about alignment, you can also check why your business needs sales operations & enablement.
2. Greater transparency among teams
Another reason you should incorporate Revenue Operations in your organisation is greater transparency among teams, so collaboration across departments in the hybrid workplace is easier than ever.
A frequent sight in most cross-team meetings is the sales team discussing closing rates, the marketing team discussing SEO and marketing collaterals, and the customer success teams discussing customer feedback. Even though all three teams have the same goal, their lack of alignment means they rarely know what the others are doing.
This creates friction and blame games if problems arise, and this is why you should embrace RevOps: aligning these teams ensures that each team has total visibility into what the other teams are doing. Data will also be accessible to all the teams using integrated processes.
According to research from Forrester, strongly aligned companies develop 19% quicker and are 15% more profitable.
Here are some advantages of transparency in the workplace:
- Encourages sharing and communication
- Increased employee happiness and engagement
- A more positive workplace culture and principles
- Improved customer service
Fostering efficient cross-team collaboration hinges on improving your internal processes and procedures.
Aligning these teams is just another reason you need to adopt Revenue Operations. If you put in the time and energy to improve them together with streamlined data, you will be rewarded with significant advantages that will help you expand and scale your business.
3. Positive Customer Experience
Let’s face it! Sales growth forecasts are becoming more critical to businesses, but customer experience is overlooked.
As consumers, we’re on to the next company if we don’t have a positive customer experience.
In a subscription-based economy, where maintaining clients for the long haul is critical, you won’t be able to compete if you’re not doing the right thing.
A recent study from Gartner shows that the top predicted outcome of digital business investment is to improve customer engagement significantly. Moreover, 85% of customers believe they are not getting value.
That’s why a primary function of Revenue Operations is to create, instrument, and optimise the entire revenue process to promote an exceptional customer experience.
All GTM teams benefit from RevOps because it simplifies operations, allowing them to be more sensitive to client needs.
The customer experience improves as a result, and customer retention increases.
According to Forbes, businesses that focus on enhancing customer experience see an 80% gain in revenue.
This is the entire concept of Revenue Operations. It directly relates to creating the best customer experience by enabling marketing, sales, and customer success teams to have the data, insights, and knowledge needed to meet your customer’s needs in every stage of their buyer’s journey.
With revenue operations in your organisation, every customer service strategy can be planned and tested to improve customer experience and increase revenue.
You can also read our blog about adapting your approach to customer success to learn how your team can evolve with the changing landscape to deliver a great customer experience.
Revenue Operations as the Future of Sales
Revenue Operations is a reasonably new concept, but many companies have already embraced it as a fully developed discipline for growth purposes.
In 2021, RevOps’ popularity and relevance expanded considerably. Not only have more businesses adopted the RevOps approach, but forecasters predict it to continue in the coming years.
According to Gartner, by 2025, 75% of the world’s fastest-growing organisations will have used a RevOps strategy; and organisations that adopt RevOps will be in a better marketing position than their competitors.
For many companies, sales and marketing alignment initiatives have been in place for a while. However, for a company to grow, expand, and better serve its customers, customer success must also be a part of this alignment.
You can also check these 3 strategies to grow revenue in your organisation to scale up your business.
Ready to adopt Revenue Operations within your organisation?
Knowing that your marketing, sales and customer success teams are out of sync is a great place to start. It’s then time to embrace RevOps in your organisation and take concrete actions to improve your revenue processes.
But did you know that you can take your business a bit further?
Have a FREE 30-minute session with me to talk more about taking your business to the next level!