Revenue Operations (RevOps) is a hot topic, and for good reason: According to Xactly, research shows that companies that have adopted RevOps consistently outperform those that haven’t, experiencing a 10-20% increase in sales productivity and a 30% reduction in GTM expenses.
Gartner defines RevOps as “a method to better align organizations based on strategy, process, workflow, data, analysis and technology… (RevOps) is the operating model for driving efficient, predictable revenue.”
Technology is key in supporting a RevOps model, but the entire revenue operations process must be optimized to eliminate silos and centralize the revenue strategy so that all teams are working together.
How does the RevOps process enforce cohesive objectives and shared metrics?
To optimize growth and revenue, the marketing, sales, customer service, and support teams must all work in alignment. Without RevOps providing a common objective, each department often has its own goals and metrics, leaving the customer with a rough transition from one part of the customer journey to the next.
By implementing a RevOps process, including the right technology stack, the objectives for each lead, prospect and customer will be shared and supported across departments. RevOps technology can get team members across the organization on the same page, but strong C-level support will also be needed to ensure each department is aligned to the same common goals.
How does SPM support the RevOps model?
A Sales Performance Management (SPM) solution can be used to support the RevOps process in multiple ways, including the following:
- Integrate data from multiple departments. Marketing is likely already using CRM, which can and should be integrated with sales and post-sales service and support. SPM can integrate CRM, ERP, SalesOps and other data to ensure that up-to-date information is shared across departments.
- Test different quota scenarios. A quota management solution can also be used to model different quota scenarios to help determine the best course of action to meet RevOps objectives.
- Revise targets and quotas as needed. With an SPM solution, RevOps-oriented targets and quotas can quickly be set up and communicated to the sales force with minimal disruption.
- Protect profit margins. Revenue intelligence tools are available in SPM solutions to identify the true financial impact of sales up front so that resources can be allocated to the most profitable opportunities.
- Act quickly on market opportunities. RevOps relies on fast, smooth transitions from marketing to sales to drive growth. Updated targets and quotas can be implemented right away using the quota management component of an SPM solution. By mobilizing the sales team quickly, they can act on market opportunities before they’re lost.
- Understand customers. Machine learning capabilities are available in some SPM solutions to help predict what a customer is likely to buy. Sharing customer information is a critical piece of the RevOps process so that all teams are aware of cross-selling and upselling opportunities.
- Analyze and gain insight from wins. When used with SPM, revenue intelligence can be used to uncover patterns and reveal performance traits of successful sales so they can be replicated.
Ready to launch your RevOps strategy?
RevOps has the power to transform your business to become a revenue-focused, high-growth organization. To achieve it, you need the right tools in place to support your strategy.
Contact us to learn more about how Intangent can help you implement and manage a Sales Performance Management solution to reach RevOps goals, schedule a meeting here.