Whether you’re looking to grow your business or just find a better way of managing the chaotic communication between your existing departments, adopting a revenue operations strategy can help.
The lightning-fast adaptability offered by these strategies not only keeps your business competitive in an ever-changing market but also ensures your customers have seamless digital experiences no matter where they’re connecting from.
To better understand the benefits of a revenue operations strategy, and how to get started with one, it’s important to start with a little background.
What Are Revenue Operations?
Revenue operations, or revops, is a term that describes the synchronization and management of three key departments within a business. Revops strategies seek to integrate sales, marketing and service departments under a unified framework of knowledge sharing and administration.
Revenue operations strategies typically involve a single coordinating manager who monitors the activity of each department and directs large-scale decision-making. While this manager keeps the ship pointed in the right direction, daily tasks and objectives are handled within each department. The revops approach helps break down data silos and assists in creating unified customer-facing fronts.
How Can Revenue Operations Benefit Your Business?
Before developing your own revenue operations strategy, it’s helpful to understand a few key benefits of this approach. The main goal of revenue operations is uniting multiple departments, but there is nuance in every business’s approach.
Here are six common ways that revenue operations benefit businesses.
1. Unified Departments
One of the core functions of any revenue operations strategy is the unification of sales, marketing and customer service departments. In many business models, these three departments operate independently, which can lead to confusion and miscommunication. With a revops strategy in place, tools like product information management systems ensure that every division is using current data. These tools, combined with leaders who understand how to coordinate the goals of each department, guarantee that nothing slips through the cracks.
2. Increased Adaptability
Successful businesses adapt to changes in the market as well as changes in customer expectations. If your business relies on antiquated resources and strategies, adapting to these fluctuations is slow, if it happens at all. Revenue operations strategies keep your teams agile and flexible. With better communication and data sharing, changes in one department don’t take ages to affect the rest of the company. Everything happens instantly and there’s no lag time.
3. Process Simplification
When sales, marketing and customer service departments operate independently, they might all end up using different tools and platforms to accomplish the same goal. If sales is using one platform to organize its team and marketing is using another, communication between these two departments can be difficult, if it happens at all. This disconnect means it’s more likely that critical information will be lost. When processes are simplified by using the same systems, protocols and operating procedures, work finishes faster and prospects enjoy a more streamlined buyer’s journey. For the customer, there’s no disconnect when transitioning from marketing to sales.
4. Better Digital Experiences
Customers expect amazing digital experiences. Mixed messaging between past campaigns, awkward engagement between digital marketing and sales meetings, and missing content or a lack of follow-up can frustrate prospects and leave them looking for another business to help them. Curating digital experiences requires the synchronization of your customer-facing departments and the use of intuitive marketing technology systems. Effective revops strategies enhance digital experiences for prospects and customers.
5. Enhanced Data Usage
Data is king when finding ways to increase productivity and drive growth. Collecting and analyzing data helps you find areas of waste and determine the best path forward for your business. However, if one department is gathering data in a format that the others can’t use, you aren’t maximizing the value of this information. When every department collects data that feeds into the same analysis, you get more accurate insights and more effective plans of action.
6. Increased Customer Retention
Everybody knows the feeling of frustration when working with a company and it feels like you are speaking to a different person every time you connect. Emails get lost, your priorities get forgotten, and you waste valuable time. With a properly engineered revenue operations strategy, these complaints become a thing of the past.
Ready to Get Started with Revenue Operations?
When every customer-facing service is sharing information in real time, there’s no reason for a disconnect in the customer journey. Supporting sales, engaging with prospects and developing new customers is more efficient. Your teams can do more with less because work is shared and supported.
Even when being passed between marketing, sales and, finally, customer service, customers feel like they are speaking with the same team every step of the way. When customers feel like a company values their time, they are more likely to stay.
If you want to increase productivity and business growth, GO2 Partners can help you craft your revenue operations strategy. Every company is different, so our experts take the time to learn about your unique situation and develop an approach that helps you meet your goals. Contact us today to learn more.
