You may be thinking what exactly is RevOps and why is it beneficial to business growth? Revenue operations is not just some up-and-coming, paradigm-shifting method. It is an effective business function, aiming to increase a businesses revenue potential. Providing full accountability throughout the funnel, aligning service, sales, marketing and all other areas of the business. When properly aligned, goals can be achieved and customers delighted.
- Why is RevOps beneficial?
- Make decisions based on insights and data
- Increase accountability and visibility across teams
- Reporting and processes
- Predict growth
- Improved customer experience
- Efficient processes
Why is RevOps beneficial?
There are many benefits of RevOps, these include…
Make decisions based on insights & data
As we know, data can be found everywhere. Each online and offline action we take can lead to a specific data point. Often we can spend time comparing unique data points, with the aim of spotting a correlation between them, with little understanding of the causation. There may be a situation whereby high-level metrics are positive looking, however, the entire picture is not clear and it is difficult to pinpoint exactly what is causing revenue growth.
However, with RevOps, instead of several teams looking at different datasets, with the aim of piecing them together, there is a unified approach. Providing a holistic overview on both the data and how it impacts revenue. Advanced tools ensure that data is accurate and all teams are working effectively using the same pieces of information.
Reduces handoff tension to increase accountability and visibility across teams
When it comes to accountability, if there is not clear visibility, then it can often make it too easy for individuals to shift the blame or for tension to arise when it comes to the monthly reports, leads or many other marketing, sales or service metrics. This is a clear example of teams not being effectively aligned and taking their eye away from the main goal. RevOps helps to break through this as everyone can see what each other is doing, increasing visibility and accountability between parties.
A team effort in reporting and processes
When teams have little understanding of what one another is doing, including their processes, how will they know how each data point aligns? With siloed information, outcomes are reduced and productivity is lowered because the information is not as transparent. When it comes to revenue operations, the aim is to remove this isolated information and instead promote a more shared understanding of definitions, purposes and metrics, so that each party knows exactly what is what.
When teams work together it helps to lead to a predictable and consistent pipeline growth. When information is siloed, it is difficult to understand what is and isn't working, so how can you predict future revenue and growth? Revenue operations ensure you locate vital data points, which can impact actions. It's important that each process is administered efficiently so that changes can be properly administered.
Improved customer experience
When business teams have a clear focus and goal in mind, win rates and sales cycles are often higher and faster. There will be less wasted time and each team will have clear transparency on what they need to do next to achieve their goal, as well as being streamlined for a smoother customer experience. The team's success will also ensure the customer continues to be engaged even after the initial purchase. RevOps is vital in attracting and retaining customers.
When teams are better aligned and technology is aligned, internal processes will subsequently become more effective. Resources will be allocated more accurately and manual processes can become more streamlined, offering a centralised truth source for the businesses data insights.
It's evident that RevOps is highly beneficial, however we do understand it's not that simple to implement and takes consistent evaluation. But, a business that has a clear RevOps integration provides a well thought out structure that will lead to success.
If you would like to find out more about HubSpot's Operation Hub and how to grow your business with scale and confidence speak to a member of the team today - contact us.