Revenue Operations, or RevOps for short, is a term that has been maturing in the US, and is still in its infancy in the UK. It is growing though on this side of the Atlantic and this is down mainly to its inclusion in the revenue growth industries vernacular. It may be useful to break down exactly what it is just so you can start to understand whether your company needs it or not.
RevOps stitches together 3 different departments: Marketing, Sales and Customer Success. These 3 departments you would think are good at communicating given they are all customer-facing and are focussed on revenue. However, more often than not, this is not the case and it causes havoc in a business.
With RevOps, this function aligns these 3 departments and focuses on the underlying data with which to make decisions, as opposed to using gut feel and intuition. This encouragement of a data-driven collaboration and teamwork results in higher win rates and faster sales cycles because everyone knows what they are doing and how the pieces fit together.
This function is also the one that ensures that everything is documented – from your marketing automation platforms to your content management systems. It makes sure all these tech stacks speak to each other driving efficiency and unnecessary duplication. With this focus on tech, data and its analytics, this results in increasing pipeline throughout and sales velocity which is something all leaders of the 3 departments I am sure can get behind.
However, how do you know if you need a Revenue Operations person or consultancy (check out Sales for Startups) to help with this? Consider these 3 scenarios:
- You sense a misalignment between Marketing, Sales and Customer Success
- The key business metrics don’t match up between these 3 departments
- There is constant inter-departmental bickering
Even if you’ve answered yes to only one of these questions, you need RevOps. If you have answered yes to 2 of these questions, you surely need RevOps. And I think it goes without saying that, if you have answered Yes to all three questions, you definitely need RevOps!