November 2, 2021

Written by

Collective[i] Team

  • Posted in
  • Revops
  • Revenue Operations

What is a RevOps strategy?

A solid revenue operations strategy has quickly become an essential component of high-growth companies. In fact, according to Forrester, companies with aligned sales, marketing, and customer success teams can expect to see “19% faster revenue growth and 15% higher profitability” than those with unaligned teams — a statistic that’s not surprising given that the main point of RevOps is to accelerate and simplify the customer journey to generate more predictable revenue.

For companies looking to capitalize on the emergence of revenue operations, one of the first things to tackle is creating a RevOps strategy. This article will dive into revenue operations responsibilities and explore four high-level steps to creating a RevOps roadmap for teams of all sizes.

What is revenue operations?

Revenue operations is a business process that brings together all of the customer-facing departments to better align branding and messaging, improve the overall customer experience, and boost revenue. While historically sales, marketing, and customer success teams have often operated as siloed divisions, today’s complex customer journey requires a better process. With B2B sales, subscriptions, and support now commonly involving not only the sales team but the marketing and customer success teams as well, breaking down the barriers between those departments is vital to short- and long-term customer satisfaction and retention.

Traditional business processes drive a wedge between departments and disable collaboration. RevOps champions shared goals and collaboration to drive company revenue growth and operational efficiency.

What is a RevOps strategy?

A RevOps strategy comprises the team, technology, and processes that will align teams and facilitate a smooth customer journey. When it comes time to adopt a big-picture RevOps framework, the details can and should vary from business to business. This is because RevOps strategies are not one-size-fits-all. Instead, companies must keep in mind their goals, budget, and size to find the right strategy. Generally speaking, though, here are the high-level steps to follow to get started in adopting a revenue operations strategy.

Determine what structure to use

While no two RevOps teams will look alike, there are two general ways to go about structuring the team.

  1. Create a dedicated team to work in a newly created revenue operations department. Even a small team of one or two can provide revenue oversight, leadership, and strategy without adding extra work for busy sales, marketing, and customer success teams. This approach is often used by mid-sized and large companies that have a bigger budget or more complex revenue streams.
  2. Create a committee with employees from marketing, sales, and customer success teams to manage the revenue operations strategy. This approach will assign each committee member with additional revenue operations responsibilities, and it works best for smaller companies with less complex revenue streams.

Survey available data and resources

Once the team structure is decided, companies should identify what resources it has available and if there are any gaps or missing pieces needed to help evaluate revenue streams and make data-informed decisions moving forward. For example, companies may find that too many tools — or disparate uses of tools across teams — makes collaboration more difficult. On the other hand, a lack of modern solutions may limit the collection of data and revenue operations metrics.

To solve this, companies may consider moving to an end-to-end software platform that uses artificial intelligence (AI) tools and automation processes to streamline data collection and collaboration between teams. For example, Collective[i]’s Intelligent WriteBackTM automates CRM data capture, saving teams time and eliminating human error, and Virtual DealRoomsTM provides a dedicated digital space where everyone involved in a deal can review and share updates that move the deal down the pipeline.

Analyze the customer journey

The next step to developing a RevOps strategy is to better understand the customer journey. Audit every piece of the pipeline to explore what customers experience and understand any hitches or pain points they may face in their journey.

When performing the audit, it is important to include both external and internal factors. External items include things that the customer sees, such as print materials, websites, social media, and more. Internal factors — tech tools, bottlenecks or delays, and communication and language use — can impact the customer journey as well.

Align the team

Finally, and perhaps most important, get your employees on board. Understand their current processes — including areas that may need improvement — what steps they’ll need to take to adopt the new changes. Then create strategies to help them align.

Managers may find that intelligent tools can help in this step. Using Collective[i]’s Predictive PipelinesTM , for example, they’ll not only be able to view where their teams’ efforts are currently focused to promote collaboration between teams but also will receive insights and recommendations for coaching opportunities to get everyone on the same page.

To learn more about how Collective[i]’s platform can enhance your RevOps strategies, get in touch with us today.

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