By: Randy Jasinski, President of 5P Consulting
From small businesses to large enterprises, different department operations used to be managed separately. That meant your sales, marketing, and customer success teams all worked independently of one another to focus on their projects and tasks.
This method works fine — most of the time — but the modern customer life cycle doesn’t follow a linear path from advertisement, to sale, to service follow-ups.
By keeping your revenue-generating operations separated, you create silos that can slow down business processes. Revenue operations break down these silos for a more efficient organization. So, what is RevOps and how can it help your business? Read on to find out.
What is Revenue Operations?
Known as RevOps for short, revenue operations are a system of merging the management of your revenue-producing departments into one cohesive unit. Most businesses have a sales department, marketing team, and customer success team. Each of these departments works mostly independently of one another. Sure, sometimes the marketing team may ask sales for reports or the customer success team might need information on promotions from marketing, but for the most part, these teams are separate.
This separation begins to be a problem as modern businesses are driven by data and the customer life cycle continues to change. Now, it makes more sense to have your revenue-generating departments actively working with one another instead of separately. By working together, all departments can share data, build trust through collaboration, and work toward a unified goal and metrics.
RevOps achieves this by combining your sales ops, marketing ops, and customer success operations under one revenue operations team.
Benefits of Revenue Ops
As with any changes, many business owners and executive teams are hesitant to implement RevOps in their organizations. Implementing a whole new strategy — and disrupting the existing operations environment — is a major investment. However, the good news is this investment can help your business grow its revenue and improve operational efficiency.
Using a RevOps strategy in your business processes helps your business:
- Increase Operations Efficiency: Rather than working in individual silos with their own goals, processes, and challenges, your operations teams will work as one unit. This streamlines processes and increases the efficiency of each department’s tasks.
- Improve Collaboration: When employees from different teams work together, they get the chance to share more ideas and that can help not only their area of expertise but the RevOps department as a whole.
- Create a Single Goal and Metric: Silos mean each team has its own data set, department goals, and measurements to track those goals. RevOps eliminates these disconnected goals and metrics to create a single view for the overall improvement of the business.
- Grow Revenue: At the end of the day, sales, marketing, and customer success are all working to ultimately increase the revenue of the business. Collaboration between teams and a unified goal measurement make each team member more efficient, which in turn leads to more time to generate higher revenue for the organization.
Does Your Organization Need RevOps?
Many organizations have already implemented a basic level of RevOps. Departments might share data, processes, or goals. However, defining your RevOps plan and building a RevOps team can improve the effectiveness of this collaboration. Even smaller businesses might be surprised to learn that revenue operations could help streamline their business processes.
In fact, you don’t have to hire a completely new department to shift to a RevOps program. Most businesses find that their existing teams have the leaders necessary to create a strategy. For example, you might be able to promote one team member to lead the RevOps program. As the revenue operations manager, this team member will coordinate collaboration across sales, marketing, and customer success for a cohesive RevOps department.
Another option is to work with a business consultant to define, implement and manage your RevOps. A firm like 5P Consulting has experience across all aspects of the processes and technology for sales operations, customer service and marketing. They work with both operations teams and business leaders to provide recommendations and implement RevOps programs into your business.
Unlike hiring a new director to run the RevOps division, a business transformation consulting firm is available on an as-needed basis to get your RevOps up and running. You’ll save costs over hiring a full-time executive-level employee while still getting the benefits of a RevOps leader.
Align Your RevOps Strategies and Business Goals with 5P
Deciding on the best way to implement your RevOps strategy and create a RevOps team is easiest when you work with a knowledgeable business process consultant. Consulting teams like 5P help businesses home in on their business goals to build RevOps strategies that improve the efficiency of their sales, marketing, and customer success teams.
At 5P, we have strategic and technology experience to handle the challenges of introducing RevOps into your organization. We can help you implement a strategy where your sales, marketing, and customer success departments meet as equals. See how we can help your business by setting up a free consultation to learn more about implementing RevOps in your organization.