Firstly, there is no one-size-fits-all for Revenue Operations, as creating a Revenue Operations plan for your company relies heavily on your company’s unique situation.
There are only general guidelines that can help you get started with creating a more unified organization, as given below:
Step 1: Understand your business capabilities
The size of your organization has a large bearing on the type of RevOps team you will need in your company. For example, if your organization is less than 100 people, Revenue Operations will likely be a small team, possibly even a single person who wears many hats. Starting with one RevOps lead is advantageous for smaller companies who can then develop into a larger team as the organization grows.
On the other hand, larger organizations may want to hire a RevOps leader and some of the roles outright, as it is likely that some of these roles already exist in sales, marketing, and client success. If this is the case for your organization, the RevOps leader will help bring the roles together and unify reporting.
Step 2: Align your team
Now that you have an idea of your business capabilities, let us talk about the various roles you need to be fulfilled in your RevOps team.
Start by outlining the basic and essential roles that every RevOps team should have, such as:
- Operations: Oversees strategy and planning, as well as day-to-day processes and activities
- Enablement: Manages onboarding, coaching, and professional development
- Insights: Collects and analyzes data to assess the performance
- Tools: Manages all software, ensures its functionality, and advises on new purchases
Step 3: Break departmental silos
Next, implement processes to ensure collaboration between your Rev Ops divisions, including sales, marketing, and customer service. An essential component of RevOps is the collaboration between teams to ensure a data-sharing process that empowers each division without adding too much additional work. Technology can be leveraged to allow for seamless data sharing. Each team should contribute to, and reference, one CRM for all leads and customers.
There should also be a continuous feedback loop to help marketing and sales improve their processes. Continuous analysis of which marketing content converts the most customers and which types of leads make the best customers can help you reorient your marketing goals. A feedback loop process is essential to improvement, growth of the business, and increasing revenue.
Step 4: Get Data and monitor KPIs
Data is usually the hardest part of establishing a Revenue Operations strategy. A successful Revenue Operations approach relies heavily on high-quality data and the sharing of data. Progress toward improvement can be monitored via key performance indicators (KPIs), or specific data points you aim to improve.
- High-Quality Data: Collecting and using the best data starts with information about your leads and customers. You need a rich profile for your prospects consisting of their job title, company name, location, challenges they face, content consumed, and details about which services or products they are interested in.
- KPIs for Rev Ops Success: KPIs to monitor to measure the success of your Rev Ops team and systems should include the number of new leads per month (marketing), pages viewed for a visitor’s first session, forms submitted per month, number of follow-up meetings with leads, and the number of converted leads per month. Other key KPIs to track to ensure successful handoff between sales and customer service would be customer service scores, overall customer satisfaction scores, and, if implemented, customer onboarding survey scores.
With hubsell, you can not just acquire quality B2B data for new leads but also enrich every lead in your CRM and arm your sales team with the most up-to-date account info. This results in a more streamlined and personalised communication between you and your prospects.
Step 5: Get your tech stack up and running
To accomplish a Revenue Operations approach, you are going to need the right Revenue Operations technology stack.
The basics of a Rev Tech stack include CRM, marketing automation tools, a single platform to monitor customer order management, customer communication tracking, intent data analytics, and relationship management.
Let us analyse each of these components in detail.
- CRM: A CRM tool acts as the central hub of information, accessed by all Rev Ops divisions. Data must flow in from your website, referring websites or platforms, order systems/POS, communication platforms such as email and customer service tickets, and any additional marketing services, including, for example, reviews or content tools. The more you can automatically map leads to organizations and data to the right lead within your CRM, the more efficient your teams will be.
- Marketing automation tools: To automate actions based on a lead’s progression through the sales funnel, you will need marketing automation software that helps you launch your campaigns and ensure responsive communication. This will also enable sales teams to use automated lead scoring based on lead behaviour and prioritise leads and determine the most effective next step to move the lead closer to conversion.
- A single coherent platform for easy tracking: A RevOps approach needs a unified platform for marketing, sales, and customer service teams. This means you need to have a centralized location where all your data is stored across departments. Your organization’s data should flow freely between any systems that your teams are using.
If you are looking for a technology solution that covers all of the essential bases for RevOps, we would recommend the hubsell platform. Our software helps you maintain control of data and assists your sales teams in automating manual processes such as lead qualification, outreach campaigns and scheduling follow-ups automatically.