5 Reasons to Start Fractional Revenue Operations Now
Revenue operations (RevOps) is a modern operating model for fast-forward companies that aligns businesses’ goals, processes, tools, and people to supercharge revenue. Effective RevOps crush the misalignment across the sales, marketing, and customer success and set up a perform experience through every customer journey stage.
According to the Global Gartner research, almost 75% of high-grow companies will apply Revenue Operations Approach by 2025. It means those who started aligning all the processes in the companies now will win tomorrow or in the nearest future. A move to revenue enablement from sales enablement (classical path) is needed in today’s dynamic shifting market relations to reinforce RevOps imperative.
Why Revenue Operations?
Nowadays sales become increasingly digitalized and sales tech becomes more complex. CRM alone is no longer sufficient for effective account management and sales. More and more instruments are finding their way into the day-to-day job of customer-facing crews. On the other hand, more digital tools mean more data silos and much more integration challenges. Irrelevant and outdated data have a negative effect on customer experience and require additional manual work. It makes impossible proper process orchestration and holistic reporting across team boundaries and tools. Previous approaches to support customer-facing teams were typically organized in individual support groups like Sales Operations, Marketing Activities, Deal Desks, or Pre-Sales Support, however, that siloed approach was suffering from challenges of common goal alignment, common reporting as well as holistic process orchestration. Moreover, traditional tooling to support this process required technical know-how and brought a lot of complexity, without generating additional business value.
The Three Main Components of an effective Revenue Operations
RevOps unify various organizational silos and put in order towards the primary goal - making a greater experience for the customers with rapid growth. It consists of three main components: processes, platform, and people.
RevOps is about improving clients’ workflow of the parts of your company. Practically, this means that each department and employee put in place holistic processes in the company. Everybody acts on the same business goal helping each other to cooperate and communicate. The main process is defined via the common process map as well as a common set of goals and KPIs. Specialists of the Revenue Operation create processes that cover all customer path stages building a successive and delightful experience for clients moving from side to side on the customer journey. Process map defines circular and not linear steps on the journey of the prospects who is liable for what and what are the indicators of KPIs and SLAs for hand-over between different departments.
Consolidating various departments means consolidating various tech tools, customer records, and data out of different silos. It is essential to general procedures to make sure different departments speak the same language and build the same, common, understanding of prospect data, the behavior of the customers, and KPIs. You would work to unify businesses’ ways of getting information into one single stream that’s effortless to understand. It makes it easier to know how to present an understandable story to your prospects and let your staff know what everyone else is doing. This is what’s called a ‘truth of the single source’. Departments working from their own data can end up going in their own (sometimes wrong!) directions. But if everyone’s on the same page, there is far less chance of wrong turns, and with an aligned RevOps strategy, CRO can make data-based decisions, better forecasting, and faster growth.
For a successful RevOps function, we need people. Motivated, result-oriented, and energetic employees should be in the company and drive the processes. It’s common to share responsibilities among existing teams. RevOps function requires a bit of jake of all trades person. She should possess a mixture of skills such as technical know-how (e.g. application and data integration, data analysis, etc.) as well as deep customer empathy and business know-how. This person should be able to focus on important numbers and pick battles that would generate the biggest wins for high-level business KPIs. This person should also be an effective communicator as communicating across various departments in multi-stakeholder situations is a common part of the job. Building the right kind of working squad and unifying your platforms matter most. With those, it becomes simplest and easier for you to conduct a RevOps method to a business. In other words, these components are crucial to success.
RevOps - Next steps
What could be the upcoming steps in adopting an integrated approach of the Revenue Operation? Despite being a new(ish) concept there are persons on the market with relevant expertise and proficiency level. The same war for talent is also there - according to Forrester 89% of companies are planning to invest in RevOps in 2023. Hiring a professional person full-time could be quite expensive, not to mention that the actual cost is typically much higher when you include variable, recruitment, and onboarding costs. Another solution could be Fractional Revenue Operations from RevOS.
It combines the proprietary RevOS.ai platform, experience, and playbooks as well as depth and breadth of executive expertise, and an objective perspective, that delivers measurable results.
5 Reasons to start with a Fractional RevOps by RevOS
A Fractional Revenue Operations has an integration, facilitation, and tech function for your company across all departments. Established revenue operations will find when, where, and how to ensure key points that affect revenue outcomes by processes, technology, data, and people.
About the Author
Renat Zubayrov, Founder and CEO with a technical background. Built a prosperous SaaS B2B software company from the idea into successful investment & post-merger integration. Raised 7 effective departments and teams with process-oriented approaches, experienced executive, and speaker at international conferences.
Professional achievements and specialties:
Renat was working with the world's best companies like Nokia, TCS, and DHL, and founded the first German integration platform as a service (iPaaS), elastic.io.← Go back to blog