If you’ve been hanging out on LinkedIn, you’ve probably heard about RevOps. You’ve probably seen more than a handful of CMOs talk about it in a way that makes it sound like a mythical creature every B2B company needs.
The term RevOps is thrown around so much that it’s started to lose its meaning in conversation, just like other “cool” industry terms like dark social, demand generation… you get the point.
But the truth is that RevOps is a valuable strategy for companies to adopt if they’re looking to increase their… well, revenue without a significant overhaul to their business model. AKA, no need for a bigger team, new products, or other initiatives you might think of when considering ways to increase your revenue. In fact, companies implementing RevOps aim to streamline operations as the foundation for that increased revenue.
That sounds beautiful, you’re thinking, but what exactly is RevOps?
In short, Revenue Operations is a business function that aligns marketing, sales, and customer service teams through automation and processes designed to keep everyone on the same page. That said, there are lots of doubts about how to implement RevOps and who should consider it, so we put together this list of the most frequently asked questions about it to help you decide if it’s the right move for your company.
Let’s dive in.
The most common questions about RevOps
Does it only work for startups?
One of the most common myths about RevOps is that it only works for fast-growing startups. But that’s not true.
Most companies can benefit from a Revenue Operations strategy. Here’s how to tell if it’s the right fit for your company:
Your marketing, sales, and customer service teams are struggling to keep communication flowing. This misalignment can cause you to miss sales and have a hard time retaining customers.
Your prospect and customer data is spread over multiple platforms. This makes it impossible to have a single source of truth for your teams to interact with them.
Lines are blurred when it comes to which team needs to engage the prospect/customer when. A prospect is talking to sales, a warm lead is receiving marketing communications, and a customer is reaching out to your sales reps to get help, for example.
In short, if your teams are wasting time on communication, your leads and customers aren’t getting what they need, and you feel like you need to grow your team to grow your business, you can probably use RevOps as it removes the guessing games and creates a structured framework for your teams to perform.
Does it only work for B2B/tech/SaaS/Insert niche here?
Again, no. RevOps is a strategy that helps teams of most companies be more efficient. It works well for service (or SaaS) providers as they’re more likely to have long-term customers versus one-off purchases.
On the flip side, RevOps is largely considered a B2B function. But B2C companies can also reap the benefits of cross-team alignment and automation.
Is it the same as Sales Ops?
RevOps is not the same as Sales Ops. Sales operations is a function for sales teams that focuses on improving the sales department’s performance to increase revenue. The goal and approach of RevOps are similar, but it takes into account the three client-facing departments (marketing, sales, and customer service) instead of one.
Is RevOps really just marketing?
No. Revenue Operations is a complex, cross-team function that includes marketing.
RevOps encompasses marketing in its workflow because marketing is the first touch point between a prospect and a company.
What do I need to implement RevOps?
First and foremost, you need your team. Next, you need to design the processes your team will use. And finally, you need the systems where the automation, processes and data will live.
Many RevOps proponents list these items differently. But at Coastal Consulting, we’re a people-first organization. Your team has an essential role in your operations. Once you define what each of them does and how their work intersects (the actual processes and workflows), it’s time to choose the platform to host your data and manage everything.
HubSpot is the highest-ranked CRM with powerful tools for every step of the customer lifecycle — from marketing to customer services. The HubSpot Salesforce integration is an obvious first choice for any company planning to adopt RevOps.
Is RevOps a one-time thing?
RevOps is not a set-it-and-forget-it type of thing. Instead, it’s an overhaul of your systems and processes that requires ongoing maintenance to work well. So you’ll want to secure buy-in before diving in.
A common issue we see is that companies depend on third-party partners to manage their systems. But this is expensive and can leave gaps in your organization. Many companies depending on external providers end up abandoning their efforts.
Your marketing, sales, and customer service teams all need to have a seat at the table. You’ll need marketing, sales, and CS managers who will oversee ops for their respective teams. Then, you’ll need a system manager to be in charge of the tech. These managers report to the Director of Revenue Operations, who reports to the CRO (Chief Revenue Operations).
Depending on your business size, you may have analysts or coordinators who report to your team managers. Analysts would be in charge of solving day-to-day issues in business performance by looking at data.