What Is RevOps and why is it important?

Is your business ready for growth but unsure how to achieve this on an operational level? Learn what RevOps is and why it is important for successful business growth.

The way companies operate has dramatically changed in recent years. Advanced technology has facilitated vast opportunities to connect with customers and leverage sales.

While this technology is advantageous, its data-driven approach has increased the complexity of sales and marketing operations. 

Engaging and converting customers in ever more creative ways requires more touchpoints. Large amounts of data are scattered in different siloes, and many platforms are used to achieve sales.

This requires increased resources to generate revenue, making the process complicated and time-consuming. But, RevOps offers the solution.

Here we will address what is RevOps and why it is important.

What is RevOps?

Revenue operations or RevOps is the term used to describe a holistic approach to revenue generation, growth, and potential within a business.

Revenue operations or RevOps is the term used to describe a holistic approach to revenue generation, growth, and potential within a business.

How Does RevOps Work in an Organisation?

RevOps strategies encompass a company’s go-to-market (GTM) activities to drive B2B revenue growth.

To be successful, RevOps strategies bring together teams within an organisation that impact revenue generation.

When a RevOps strategy is implemented, the following teams are aligned:

• Sales
• Marketing 
• Customer Success

How Can RevOps Accelerate Revenue Growth?

Aligning these teams as part of a RevOps strategy allows the optimisation of people, technology, and processes to work towards a shared goal of accelerating revenue growth.

These newly-aligned teams then focus on revenue generation and a shared culture.

This creates full-funnel accountability across the company’s GTM activities. 

The Three Pillars of RevOps

The successful implementation of RevOps strategy is underpinned by three pillars; people, processes, and technology.

1. People
   
   RevOps recognises the value of people and teams as the foundation for a company’s success.
   
   By cutting out labour-intensive processes and streamlining operations, talented teams can work to their full potential, equipped with the tools they need to deliver results.
   
   
2. Processes
   
   Time-consuming, inefficient processes prevent companies from reaching their full potential for revenue growth.
   
   Aligning the efforts of GTM teams and sharing data creates lean processes that save time and enable teams to focus on revenue growth via a strategy designed for efficiency.
   
   
3. Technology
   
   Technology is central to RevOps, and introducing a revenue performance management platform is extremely valuable.
   
   This single platform can be used to make fully-informed business decisions and monitor revenue growth. 

Why is RevOps Important?

Every business aims to scale and increase revenue. However, it can be challenging for your operation to catch up when this starts happening.

In those early days of your business, your company may have prided itself on its personal approach to customer service and hands-on approach to customer acquisition and revenue generation.

But, when your business starts to grow, these efforts become diluted.

Suddenly, it is no longer possible to keep up with the many touchpoints that your customers have with your business and to still offer a personal service.

When this happens, it is time to review your operation and make changes. RevOps facilitates these changes. 

Scaling your business operation to facilitate and maintain growth is vital, and RevOps will help you to achieve this.

Here are the practical ways that a RevOps strategy can transform your operation:

Optimises Data and Tools for Smart Business Decision-Making

When data is contained in many different siloes across platforms, it is impossible to use it in a meaningful way.

RevOps brings together data from across the organisation.

Data is then optimised and used efficiently to ensure data-driven decision-making that maximises business intelligence.

Creates Efficient Processes

Duplication of effort and wasted resources impact ROI and drain your revenue.

Aligning and optimising GTM activities and sharing resources increases efficiencies and maximises revenue generation.

Builds an Effective and Predictable Revenue Stream

RevOps strategies not only generate revenue growth in the short term, but they also facilitate a predictable revenue stream.

When you combine your data and create efficient processes, monitoring current performance and making reliable future revenue growth predictions becomes simple.

Is Your Business Ready for RevOps?

Every business wants to scale, but knowing how to do this successfully is rarely easy. Attempts to grow a business can magnify inefficiencies, such as data siloes and duplicated efforts before you even begin to work on growing revenue.

But, with a strong RevOps strategy, your business can take the guesswork out of growth. With data-driven decision-making and optimised teams working towards a common goal, predictable revenue growth can become a reality.

Here at Bound Marketing, we exist to help businesses, just like yours, with an appetite for growth, double their revenue in just 3 to 5 years.