How a Revenue Operations Firm Can Create Value in Your Organization
October 21, 2024
Every business organization may have a different idea of “value.” For some, it may be customer loyalty and retention. For others, it may be wholly financial. For others, value might still be synonymous with ensuring employees achieve that ideal work-life balance.
But if there’s one definition of value that’s often felt across the board, no matter your title or industry, it’s optimizing revenue generation while simultaneously doing more in less time.
Working with a Revenue Operations (RevOps) firm may help foster the environment you seek within your organization.
RevOps refines and strengthens companies' internal structures by improving processes, unifying platforms, and aligning sales, marketing, and customer service teams. In turn, companies may experience enhanced operational efficiency and accelerated, sustainable growth.
In this article, we’ll review what a revenue operations firm may provide, how it may benefit you, and why RevOps has swiftly become the fastest-growing job in the US.
The Strategic Role of a Revenue Operations Firm
Research on RevOps' increasingly pivotal role reveals that organizations that use the business growth strategy may generate substantially more revenue and profits.
How so?
Let’s break it down.
Aligning Sales, Marketing, and Customer Service
Team collaboration is the core of a sound and strategic revenue operations plan.
Sales, marketing, and customer service (to say nothing of other departments like finance and IT) are all crucial to your company’s success. And yet, traditional models have kept these departments separate.
Now, we’re starting to see that organizational silos can create an abundance of issues, such as:
- Inaccurate, outdated, and inaccessible data
- Team rivalry
- Disorganization
- Cross-department communication challenges
All of this may be chaos enough for an organization, but speedbumps in internal processes can also directly affect the customer journey, turning it from seamless to convoluted.
RevOps consulting firms strive to undo this, in part, through the following.
Streamlining Processes and Systems
One of the biggest benefits of using RevOps as a service rests in its capacity to look at an organization objectively and:
- Conduct performance analytics
- Remedy tech stack issues to minimize duplicate work, save time, and provide transparency
- Improve handovers to enhance the customer journey
- Remove hindrances between teams and, in the bigger picture, simplify and strengthen the customer experience
Benefits of Engaging a Revenue Operations Firm
The perks of enlisting the help of a revenue operations firm come down to the following.
Enhanced Operational Efficiency
RevOps consulting often involves CRM integration. This means using platforms like Salesforce and Hubspot to ensure all teams are on the same page and have access to the information they need.
This helps ensure cleaner, tighter, and more current data between teams.
Improved Revenue Growth
Aligning sales and marketing teams with customer service might foster revenue growth. In fact, research suggests that leveraging the skills and expertise of a revenue operations firm has, for other companies, resulted in:
- Up to a 20% increase in sales productivity
- 15% higher profits
Greater Data Insights and Decision-making
Revenue operations employ the latest technology to drive more informed decisions from department to department. Applying advanced data analytics has the potential to facilitate:
- Smoother sales processes
- Better resource allocation
- Enriched customer experiences
Implementing Changes With a Revenue Operations Firm
Process optimization is integral to revenue cycle management and business transformation.
What does integrating such a system into your organization look like?
Assessing Your Needs
Revenue operations best practices start with evaluating your core needs. This may involve:
- Identifying bottlenecks
- Pinpointing revenue gaps
- Investigating Revenue Operations metrics, such as net revenue retention
Fortunately, RevOps consultants are experienced in this type of in-depth analysis. They can provide you with a third-party perspective so that you can define clear goals and track your progress toward those goals with revenue operations metrics and key performance indicators (KPIs).
Examples of metrics include:
- Net promoter score (which measures client satisfaction)
- Average customer lifetime value
- Average customer lifetime duration
- Sales accepted lead to sales qualified lead conversion rate
- Opportunity to close rate
- Deal cycle duration
- Monthly recurring revenue
- Annual recurring revenue
Partnering for Success
To seamlessly and successfully integrate a revenue operations firm into your business strategy, consider the following factors:
- Integration capabilities: Can your provider work with—and optimize—your current tech stack and workflow to further enhance operational alignment?
- Goal alignment: Does your provider have a strategy to help you meet your business goals? Do they have experience helping other companies achieve the same or similar goals?
- Training needs: Does your provider offer team training and ongoing support to promote team adoption and widespread, proper use of the new system?
- Ability to scale: Will your RevOps as a service solution provider scale alongside your business and continue to meet your needs?
Measuring Success and ROI
Remember those goals and KPIs we mentioned earlier? Once you’ve integrated a RevOps firm into your business strategy, it’s essential to track your progress toward those goals and your overall ROI.
These metrics will help you determine what’s working and what needs further adjustment or optimization.
Case Study: Real-World Impact of Revenue Operations Firms
Companies from across various industries have benefited from partnering with RevOps firms. But let’s look at a specific example.
When IT company Exclaimer needed to replace its CRM and marketing automation platform, they turned to the experts at Operatus to ensure the business wouldn’t be disrupted during the transition.
While they’re a high-transaction-volume business, their existing tech stack was difficult for sales teams to navigate. It reduced visibility from Lead to Cash and made sales KPIs almost impossible to report. They needed a robust solution that they could implement quickly and cost-effectively.
Operatus completed a full new implementation, migrating over existing data from multiple sources and training Exclaimer sales teams within a short, 3-month period.
With an optimized tech stack and Operatus’ ongoing support, Exclaimer can now generate quotes at scale directly in their CRM, manage their sales pipeline effectively, monitor KPIs, and track marketing ROI.
Enrich Your Growth With Operatus
Process optimization is integral to revenue cycle management and business transformation. This is just one of several matters a qualified revenue operations firm will focus on should you bring one into your organization.
Operatus offers just that—and then some. We’re determined to help businesses like yours achieve that value we mentioned earlier. Our team of RevOps professionals key into your top priorities, listen closely, and develop strategies to fortify your teams, platforms, and processes.
Intrigued? Reach out to us today to get started.
