“When I think of revenue operations, there are many different things covered,” said Debbie Qaqish, Principal & Chief Strategy Officer of the Pedowitz Group, in an interview with Demand Gen Report. “It’s about reorganization, the disappearance of silos, a better view of the customer, easier ways to generate income and an easier way to capitalize on that new customer focus that comes into play.”
While RevOps, the strategic convergence of sales, marketing, and customer success to ensure full accountability throughout the sales machine, isn’t exactly a new buzzword or strategy, it’s rapidly gaining traction in B2B companies. Research by RingDNA, a software provider for sales activities in partnership with RevOps Squared, shows that 33% of B2B companies added a RevOps feature to their strategies in 2020, up from 24% in 2019.
B2B organizations are giving up their old processes to focus on enhancing their records with third-party data and prioritizing organizational leadership and internal alignment for future revenue growth in 2021 and beyond. However, according to several experts, many B2B companies are still facing issues with RevOps, citing issues with strong leadership and a lack of defined processes and data.
“It’s a journey to get the perfect frame,” said Howard Brown, RingDNA founder and CEO, in an interview with Demand Gen Report. “There are very few people who have both the experience and the difficulty to execute RevOps strategies. We need to make some fundamental changes to the way our teams work, remove the data silos, and review our data organization. “
Use of third party data to increase sales
Ensiled and inaccurate data can hinder daily operations. As a result, many RevOps companies are turning to third-party data solutions to improve the quality of their data.
According to Qaqish, selling to multiple customers with different needs and interests requires accurate data relevant to every part of the business as each team gains insights that will enable them to get to market effectively. In the case of the Pedowitz group, the company’s RevOps team is using 6sense to improve their prediction behavior data and identify the best way to interact with a specific buyer across the company.
“By using tools like 6sense, we can leverage modeling and prediction behavior and be in the right channel with the right people at the right time,” said Qaqish. “It’s really about focus – not so much about spraying and praying. Because the tools are so easy to use, people will focus a lot more on the conversations they are having, the number of conversations, and who they are having those conversations with. “
RingDNA uses the conversational marketing tool Qualified to analyze the website interaction data. This enables the marketing, sales, and customer experience teams to determine the best method to guide shoppers on their individual journeys. RingDNA also plans to combine its CRM and proprietary data with other third-party solutions to provide its teams with the information they need to achieve better customer relationships and revenue in 2021.
“It’s about building a data-driven algorithm or an algorithmic sales model,” Brown said. “We use advanced analytics from the data gathered in every process, communication, and task that is created to provide my teams with insights that will ultimately drive sales.”
Improve internal alignment to create mutual metrics
RingDNA’s study shows that 70% of respondents indicated a degree of focus when creating or improving their RevOps strategies for greater efficiency. According to Brown, RevOps must be completely in-house and pool its resources to create a well-oiled machine.
For example, RingDNA has created feedback loops between its sales, marketing, and customer experience teams so that frontline staff can get real-time insights that enable sales and customer experience teams to interact with buyers.
“To truly achieve ‘sales organization’ status, organizations need to align the culture, the processes, the data and the metrics they collect,” said Brown. “It’s no longer about marketing leads and handing those leads off to sales. Then sales have their leads and win rates. It’s really about creating mutual metrics. “
Internal alignment can also help companies manage their buyers’ journey, reduce customer charges, and keep looking for new acquisitions. According to Mark Kelly, CEO of B2B management consultancy NewEdge Growth, customer loyalty increases and becomes more consistent when marketing, sales, demand generation, customer experience, etc., are all focused on helping the buyer along the way for revenue.
“You have to manage this entire relationship not just from an experience perspective, but also from an operational perspective,” said Kelly. “Are we focused on their journey or are we pulling them through our process? Revenue Operations can help you measure this and really focus on the results and determine whether or not you are successful with them. “
Effective leadership is also critical to internal alignment. More than 66% of organizations have an executive who is primarily responsible for overseeing day-to-day operations, maintaining alignment, and ensuring customer success.
Qaqish stated that RevOps executives need all of their people to work with the same processes and goals, tools to support their customers and all working towards the same goal. This allowed the team to make more informed decisions that had a positive impact on the company’s relationship with its buyers.
“When you are the CEO, you need to look for a new way to generate sales and growth for your company,” said Qaqish. “The ‘it’s up to the sales organization’ model is gone. Revenue generation and growth is a team sport today, and leaders are the engine that helps companies achieve repeatable, predictable, and scalable revenue in ways teams alone never thought of. “
Kelly agreed, stating that NewEdge Growth recommends that its customers, who are sales leaders, focus on bridging the gap between executives and employees and creating processes that improve the company’s performance at all levels.
“In the world of sales, leaders need to understand that they need to be fluent in both sales and marketing,” said Kelly. “In addition to understanding the customer experience, you need to be passionate about it. That was the biggest eye-opening moment of my career when I realized that there is a huge separation between what I think I hear and what I really want to hear. The responsible person must have spent time as either a salesperson or a marketer, or both, in order to be effective in that role. “
As B2B organizations evolve their marketing strategies and focus on sales, full alignment, dynamic records, and strong leadership can ensure the success of a RevOps company. Given these tactics, the future of RevOps looks bright.
“If I had to predict where [RevOps] In 2021 and beyond, predictability is all about, ”said Kelly. “The management teams, the investors, the VCs or private equity are looking for predictability of earnings. And it goes back to the operations, how you measure it and it all goes back to the strategy. So it all really comes together. “