Your guide to RevOps and why it’s so important right now
What is RevOps and why is everyone talking about it?
by Sarah Harkness
April 27, 2022
Ask any owner or operator of a commercial organisation if they want revenue growth, and the answer will be a firm “yes.” Even better if that revenue growth is predictable, measurable, and repeatable.
Ironically, executive focus on daily operations leaves little time to explore how much revenue is hidden or lost due to business inefficiencies. Inefficiencies such as lack of data visibility, siloed and ageing systems, no single view of the customer, and manual processes.
What is RevOps?
Revenue operations (RevOps) aims to improve revenue growth by delivering connected, data-based insights. RevOps is the end-to-end business process of driving predictable revenue across marketing, sales, renewals, and expansion through transparency and execution rigor. RevOps is an operating model rather than a stand-alone function that better aligns an organisation to improve how it works.
Why Gartner estimate 75 percent of companies will have a RevOps model by 2025
RevOps wasn’t always a familiar term around the quarterly business review table. Then buying behaviour started to change. Not just change but revolutionise, driven by digital transformation and, over the last two years, the COVID-19 pandemic.
Lockdowns inspired a mass shift in customer online buying and research behaviours. NielsenIQ data shows that 67 percent of consumers changed how they shop due to COVID-19, and analysts expect this figure to grow.
Behind the scenes, virtually every business operation was catapulted into the digital world, ready or not, to meet customer demand. Organisations built around functional silos were caught flat-footed by the scale of demand and the need to deliver fast, excellent customer experiences with every interaction.
As lockdowns ease and businesses make moves to recover from pandemic disruption, many are prioritising the alignment of sales, marketing, customer success, data, and performance metrics. Why?
Their realisation is clear: an operating model that delivers data-based insights to improve every aspect of end-to-end operational efficiency is how future-facing companies will accelerate and sustain growth.
The shift is significant. So significant that the Gartner analyst group expects 75 percent of the world’s highest growth companies to deploy a RevOps model by 2025.
“Business moves in real-time. Your systems and data need to move in real-time too. RevOps is an operating model that delivers data-based insights to improve every aspect of operational efficiency to help your business accelerate and sustain growth.”
Common problems faced by businesses ready to benefit from RevOps
Generally, most organisations looking to break through stagnant revenue growth are candidates for a RevOps model. However, it’s time to prioritise a RevOps discovery conversation if your business has experienced these pain points in the last six months:
- Siloed systems and data. Disconnected systems and data slow down business operations and efforts to create insights that support informed decision-making. Business moves in real-time. Your systems and data need to move in real-time too.
- Manual processes. Customers expect a great experience that meets their needs within seconds in the digital world. If your processes are manual, they’re also likely to be slow, error-prone, and nowhere near agile enough to attract and retain customers or beat the competition to a sale.
- Ageing systems. Legacy systems introduce extensive risks to repeatable revenue generation. Examples include system downtime, maintenance costs, the need for special skills, hindered productivity, security holes, and legal and compliance risks.
Key components of successful RevOps
The journey to successful RevOps can start from many different stepping-off points: marketing, sales, operations, sales enablement, customer success, or renewals. However the journey begins, key components of successful RevOps models include:
- end-to-end processes across the entire customer lifecycle
- integrated systems, data, and functions supporting seamless business workflows
- on-demand visibility into analytics, execution processes, and outcomes.
Successful RevOps models are an infinity loop of systems, data, and workflows connected by a robust technology stack. The combination lets you grow your business based on rich data insights.
Business outcomes you can confidently expect from a successful RevOps deployment
Businesses that embrace a RevOps model rapidly realise benefits from a lean, efficient operating model that delivers compelling outcomes, including:
- Data-driven decision-making. RevOps takes the guesswork out of decision-making by delivering real-time, reliable business data whenever you need to make choices and decisions.
- Better visibility and accountability. You can’t manage what you can’t measure. RevOps delivers data-based visibility into who needs to do what and when to support sales so business leaders can hold teams accountable for performance. Sales and Marketing alignment improves.
- Single source of truth. RevOps ensures no business meeting devolves into a data debate because your entire organisation can align around a single source of truth. Working from a single source of truth lets you plan for how to close sales today and 12 months from now.
- Improved revenue forecasting. A successful RevOps deployment replaces subjective “gut feelings” about revenue forecasting with plain, hard facts to let you perform contextual revenue forecasting.
- Faster sales cycles. RevOps aligns your systems, processes, and people, so customer management is fast, efficient, and professional through the sales cycle.
“With RevOps, we have a 360-degree view of all of our customers. From the very, very beginnings of their origin with us as a lead, all the way through to their renewal as a customer now.”
Cattle Dog Digital: trusted RevOps experts
Cattle Dog Digital lives and breathes RevOps. We’re the only full-funnel RevOps services provider that deeply understands the tech-stack across critical business functions, including marketing, sales, and finance. We work fast to deliver successful outcomes for every client, unique to their business circumstances.
Organisations like JB Hi-Fi, Bayer, and the Melbourne Market Authority trust Cattle Dog’s full-funnel implementation team to deliver the data insights needed to run a business, today and tomorrow.
High-value tools and platforms for RevOps success
The Cattle Dog Digital team believes in the power of partnerships to create, deploy, and optimise leading RevOps models that transform revenue generation for our customers. We partner with world-class organisations to bring you a world-class RevOps model, including:
Two steps to getting started with RevOps
We get it. Any new business initiative can feel overwhelming, especially when technology is involved. We recommend two steps to get started with RevOps.
- First, browse our RevOps Services page to see what we do.
- Second, contact us to set up time to talk with our team, or one of our pedigree partners.
Everything is easier with a conversation. We look forward to hearing from you soon!