What Is Revenue Operations (RevOps)?
By Paula Quiroz
What is Revenue Operations (RevOps)?
Revenue operations (RevOps) is the process of streamlining the efforts of their revenue-generating teams – marketing, sales, and customer success teams – with the goal of maximizing a company’s revenue. The sales team depends on the marketing team to generate qualified marketing leads (MQLs) and the sales team works on developing strong relationships with prospective and existing customers, which, in turn, positively impacts the customer success team’s performance; as RevOps sets up processes and technologies to make these teams cohesive, performance and results improve.
As Forbes states, “Teamwork across functions has become fundamental to growth.”
Revenue Operations professionals are responsible for:
- Operations – assessing, updating, and improving processes
- Compliance – ensuring that every new workflow or process meets company or industry standards
- Tech Implementation – finding and implementing technologies across all revenue-generating departments
- Learning and Development – providing training opportunities to employees in how to use new software or follow new processes
- Enablement – eliminating obstacles to allow revenue-generating teams to focus on pushing new and existing customers down the customer journey
- Insights and Analytics – producing reports with date from a variety of sources to improve workflows
How Is RevOps Beneficial to Companies?
RevOps sets up a company’s revenue-generating teams for success:
- Marketing Team – Marketing teams tend to work with more tools and data than the sales or customer success teams. RevOps professional are responsible for streamlining the marketing tech stack and setting up processes to help marketers gain access to vital data from other revenue-generating teams – leading to better marketing strategies and business growth.
- Sales Team – Revenue Operations professionals closely monitor all stages of the sales funnel. If a problem arises, they have the capabilities needed to quickly fix them without needing to take up valuable time and resources from the sales team. As a result, the sales team can focus on spending their time more efficiently: engaging with prospective and existing clients.
- Customer Success Team – When sales team members are able to focus on developing strong customer relationships it is easier for customer success teams to increase upselling and renewal rates.