What is Revenue Operations (RevOps)?

28/03/2022 41 min Temporada 1 Episodio 1
What is Revenue Operations (RevOps)?

Listen "What is Revenue Operations (RevOps)?"

Episode Synopsis

In this episode, we start with the fundamental principles of RevOps, unpacking what has to be one of the most non-uniformly defined critical business functions. We explore the ways key industry players like HubSpot and Salesforce see RevOps, as well as looking at some research by people like Forrester into what revenue operations is all about. We then share our own take on the matter, informed by our 30+ years of experience in the area working with both major blue-chip brands as well as high growth SMEs and tech startups.We end by talking about the metrics that matter in RevOps and how to start defining the type of metrics you need to track to understand the success of revenue operations in your organisation.Key Takeaways:RevOps is one of the fastest-growing business areas, but with only 46% of execs being able to define what it is, it is still in a low state of concept maturity, with the big CRM providers trying to shape what RevOps is around the software offer they are trying to bring to market. Take a wide view of RevOps and define how it can add value to your business by taking into account a broad range of opinions. For RevOps to truly deliver value it can't just be a rebrand of your sales operations function in the same way many Sales Directors have become Chief Revenue Officers. It needs to be a function that transcends marketing, sales, onboarding and customer success teams. It must take the role of aligning all of the people, processes, technology and data in these functions.The metrics you track to measure the health of your revenue operations function must take into account the full customer journey Accepting that it is not linear and allow you to understand the velocity of a deal/customer from first touch to ongoing customer lifetime value and success. As well as the quality of a prospect or customer in all of the various forms that 'quality' can be measured. Part of this is retraining your exec team that not all charts should go 'up and to the right' in the early days at least.Resources:https://www.linkedin.com/company/revopslab https://www.revops-lab.com/Connect with the hosts:https://www.linkedin.com/in/chris-bayliss-enquirylab/ https://www.linkedin.com/in/charles-proctor-marketingauto/We hope you enjoyed the episode, join us next week when we explore systems thinking in RevOps.