Revenue Operations – or RevOps – is a term that floated to the surface less than two years ago. Its early adopters were US-based and very active. Thanks to communities such as Revenue Genius, RevOps Co-op, and Women in Revenue the word started spreading quickly and recently Revenue Operations was adopted (at least as a title) in European companies as well.
RevOps is in fact not a new concept per se. It is a more holistic way of looking at the customer experience and how we are accompanying customers in doing business with us. It became more popular, because of three mindset developments: years of practising Sales Operations, the sophistication and ease of operation of customer-facing tools, and understanding of the concept of data in business. Practising RevOps, we are able to align sales, partnerships, marketing, and customer success teams, and boost growth and resilience for our company.
It has been heralded as the Chuck Norris of business strategies. As a RevOps professional, I often like to think of myself as a (rather small) Chuck Norris in a hoodie waving a laptop – a powerful and unstoppable force in the world of revenue generation.
Let’s take a look at how RevOps can help you!
When it comes to dealing with stakeholders in the customer-facing functions, Chun Kuk Do may be the best approach, but it is frowned upon at work. Breaking down silos and uniting sales, marketing, customer success and finance into one lean, mean, revenue-generating machine feels like a passive-aggressive bar fight where the punches land from all sides. However, once Revenue Operations aligns and optimises the various teams and functions that play a role in generating revenue, the streamlined processes increase efficiency, improve customer experience, and drive growth. No obstacle stands a chance against the combined might of these once-separate departments working together in perfect harmony.
In the Beginning there was nothing …
then Chuck Norris roundhouse kicked nothing and told it to get a job. (source)
Equal to the might of six black belts staring you down is the intensity of the data RevOps brings to the decision making process.
One of the key goals of Revenue Operations is to create a seamless end-to-end process for generating and nurturing leads, converting them into customers, and maximising the lifetime value of those customers. This process – the revenue cycle – involves a number of key steps, and in order to optimise those, RevOps professionals identify and remove bottlenecks and improve inefficiencies in the flow of information and communication. This requires analysing data from various sources, and exposing a comprehensive view of the company’s revenue performance. The outcome is decisions made in full possession of the available information. In addition to optimising the revenue cycle, the increased data transparency also improves the accuracy of revenue forecasting, resource allocation, budgeting, and strategy.
Bruce Lee may have been the master of efficiency in martial arts, but in the world of business strategy, RevOps delivers the knockout blow. Efficiency is crucial when navigating a challenging economic landscape. A RevOps mindset encourages companies to evaluate their processes, identify areas for improvement, and implement changes to eliminate bottlenecks and redundancies. This streamlined approach enables businesses to reduce waste and achieve better results with fewer resources, allowing them to thrive despite external challenges.
By streamlining processes and eliminating waste like a well-executed martial arts move, RevOps ensures your company’s resources are allocated where they’re needed most, leaving your competitors in the dust.
You know that Chuck Norris doesn’t read books, right?! He stares them down until he gets the information he wants. That’s what automation does. RevOps encourages businesses to harness the power of technology to automate repetitive tasks and ensure their teams are focused on high-value tasks. This might involve implementing new technologies or processes, such as CRM systems or marketing automation platforms, or training employees on new skills and best practices.
Making your tools work for you, RevOps frees up your team’s time for more important matters – like finding the best Chuck Norris joke to use in their client call.
Remember when Chuck Norris single handedly took down an entire army of bad guys in literally every single one of his movies? That’s the kind of unstoppable force RevOps brings to your revenue generation efforts. A strong revenue model is essential for businesses to withstand economic downturns. Lean and focused operations unlock a resilience that can better withstand fluctuations in the market. RevOps pushes your functional leaders, as well as your technology teams to be proactive. This not only ensures survival, but can also help you thrive in the face of adversity.
It is all about execution – when you are leading a great business, with great people, but growing becomes a challenge – it may be time to start doing RevOps.
RevOps has proven to be an invaluable asset for businesses striving to grow and succeed, even in the midst of economic challenges. Alignment between departments, leveraging data-driven decision-making, streamlining processes, and embracing technology, are the components that allow companies to create a robust, resilient revenue model that can make you stand ahead of the competition.
Revenue Operations is a relatively new field, and as such, there is no one-size-fits-all approach to implementing it. Different companies will have different needs and challenges, and the role of the RevOps professional (me) is to help identify and address those challenges.
If your business is looking for a way to safeguard its future and ensure sustainable growth, it’s time to consider the transformative power of RevOps, so that you – like Chuck Norris – can have both feet on the ground and kick butt at the same time.