“By 2025, Gartner predicts 75% of high-growth tech companies will use RevOps for end-to-end revenue production enabling hyperautomated sales and omnichannel customer engagement.” (1)
In part III of our RevOps Revolution series, we are going to take a look at 3 key dimensions that you need to consider to help you navigate the implementation of a successful Revenue Operations program.
1. The Big ‘Why’?
The first key enabler is buy-in at the top-level and of course, from the bottom-up. The big ‘why’ of Increasing revenues is the obvious number one reason but there will be resistance to change - at different levels within your organisation. From an operational perspective, alignment challenges across business development, sales, marketing and customer experience should be surfacing up, for all to see. Think through your core reasons why, state the big goal around revenue growth and start planning change.
2. The ‘Leader’
There is a significant amount of change from an organisational perspective to enable the benefits of effective and aligned revenue teams. The second part of the puzzle is at C-Level – the Chief Revenue Officer [CRO]. This role is very different to your traditional Chief Commercial Officer who ‘own the sales number’ and would drive your sales processes and sales teams within your business. With the CRO role, this ‘sales focus’ is still vitally important, but now they have a more expansive role including Customer Experience and Marketing. Understanding and leveraging key metrics is essential. Deep and broad process knowledge is also required. Does this profile exist in your organisation today? Can you upskill key employees? A lot to consider here. The right candidate here is essential.
3. The ‘Doer’
Once we have our CRO in place, We now need to introduce another leader into the Revenue Management Team – the VP of RevOps. This vital new ‘hands on’ role will surface up all the key data analytics, processes, technologies and content to make this function work.
The VP of RevOps will work alongside the other VP’s within Sales, Marketing and Customer Experience, exploring ways to help them all succeed. They are joining the dots, they are plugging the gaps, they are connecting the tech.
Once they have their feet under the table, start figuring out and defining the ‘Shared Services’ model that will be offered back to the other VP’s. Now is also a great time to review your metrics [see our earlier Blog post which may help here]
The Revenue Workforce. Connected.
Now you have your ‘Revenue Workforce’ in place, what is the best way to align everyone to achieve? Several years ago, Mark Roberge, who was CRO of Hubspot at the time, wrote a great article around using compensation initiatives to shift and drive your business strategies. Well worth thinking this through as part of your overall ‘RevOps’ strategy, ensuring to connect your revenue workforce.
(1) Gartner, “Tech Providers 2025: RevOps Is the End-to-End Strategy to Deliver Revenue Growth Faster”, Doug Bushee, Michele Buckley, Alastair Woolcock, Rob Addy, Published 16 October 2020