What is a revenue operations manager?
Research shows that highly aligned companies grow revenue 58% faster and are 72% more profitable than their unaligned peers. They also significantly outperform their unaligned peers in retaining and satisfying customers, effectively leading, and engaging employees. Yet this alignment can be difficult to come by, especially when revenue-generating departments — sales, marketing, and customer success — don’t communicate with each other and exist in silos. Revenue operations is a business function that aims to solve these problems, and revenue managers are a key part of implementing it. Let’s take a look at what revenue operations is, what a revenue operations manager does, and what a revenue operations career path looks like.
What is RevOps?
Revenue operations (RevOps) is the high-level process of driving revenue growth by creating alignment between previously siloed departments — particularly with the revenue-generating departments of sales, marketing, and customer success.
A survey conducted by Forrester in 2020 found that failure to deliver a positive customer experience decreases sales, revenue, and customer retention. Of the decision makers surveyed, 38% said silos of various customer service (CX) operations and functions across the organization are an obstacle to good CX. Even more (48%) said the lack of a cohesive strategy across teams is an obstacle, and that counts as an internal silo too. The survey concluded that a better understanding of how to interpret and leverage customer data would allow companies to improve CX, operational efficiency, and ultimately drive business results. Revenue operations is one such solution for doing just that by breaking down silos, leveraging data, and improving outcomes.
What is a revenue operations manager?
A revenue operations manager is in charge of the RevOps team. This person works to enable and align revenue-generating departments in order to drive revenue. The RevOps manager also interfaces with the executives to give reports and assist with key initiatives and objectives.
What does a revenue operations manager do?
The responsibilities of a revenue operations manager include:
1. Strategy and goal setting
Creating and overseeing an overall revenue strategy is an important part of RevOps. This oversight has traditionally been lacking, with each revenue-generating department functioning on its own. A RevOps manager aligns these teams with the same goals and strategy to keep them focused on driving revenue.
2. Process analysis
A revenue operations manager oversees and tracks the end-to-end revenue processes to pinpoint ways to reduce inefficiencies and increase revenue. There are tools that can help accomplish this, such as C[i] RecommendsTM, which provides users with a daily list of recommended activities that are most likely to make an outsized impact on outcomes.
3. Workflow optimization
After analyzing the processes, the next step for a RevOps manager is to identify manual and automated processes that need to be adjusted, eliminated, or created to make an interconnected revenue process across the teams.
4. Data analysis
Revenue operations managers rely on metrics and data to accomplish their job of driving revenue. So having access to metrics such as win rate, sales pipeline velocity, sales forecasts, and more is extremely important. A RevOps manager also needs clean data. Collective[i]’s Intelligent WriteBackTM automatically cleanses and enriches CRM data and contacts, removing the need for manual logging and capturing the unstructured data — data that hasn’t been processed and labeled, such as the text from emails — that a RevOps team needs to do its job well.
5. Revenue pipeline overview
Perhaps the most important task for a revenue operations manager is the oversight of the revenue pipeline. Having a clear picture of the revenue pipeline is key to making improvements. Monitoring and measuring the revenue life cycles helps RevOps identify silos and break them down.
6. Technology review and implementation
Technology can be a useful tool or a frustrating barrier, and a RevOps manager aims to put it firmly in the first category. Over half of C-suite executives (65%) say they’re often frustrated by technology at work. Yet the same study found that 34% of the workforce wants to use technology to solve problems and have more efficient ways to do their work and collaborate.
The revenue operations manager should aim to simplify the tech stack by eliminating unnecessary tech tools, finding SaaS solutions that cover the desired functions, and then training employees to use the technology. This can be accomplished with a revenue operations platform.
What is a revenue operations platform?
A revenue operations platform is a SaaS solution that provides the revenue operations metrics and tools needed for a RevOps manager to do their job. Collective[i] is an end-to-end platform enabled by artificial intelligence (AI) that includes three key components: automation, augmentation, and acceleration.
- Automate non-revenue-producing tasks and capture data that leads to a precise, dynamic forecast.
- Augment human judgment to improve how sales teams manage revenue and bring focus to what will yield the highest ROI.
- Accelerate sales cycles and grow revenue through Collective[i]’s collaboration tools, insights, and valuable buyer connections.
For example, Predictive PipelinesTM gives an overview of the sales pipeline’s health and provides transparency that promotes better collaboration among sales, marketing, and customer success to improve outcomes.
Revenue operations platforms provide critical information to revenue operations managers and all the revenue-generating teams, assisting them with staying aligned and focused on the right goals. These tools are crucial for creating a streamlined and efficient revenue operations function within an organization.
It’s time to bring your business into the future of sales, enabled and enhanced by data-driven intelligent tools such as Collective[i]. Get started today by contacting our team of experts, who can support your AI-enabled digital sales transformation.Explore Collective[i]