There is no doubt that we have come a long way from the traditional way of operating business. Technology and automation have become a highly integral part of business operations today. Besides, consumer behaviour has transformed drastically in the face of this technological shift, where every market is a buyer’s market and a buyer journey continues till long after the sale has been made.
All these factors together have made it necessary for businesses to change the way they approach revenue growth, moving from a purely sales enablement perspective to a more holistic approach - that we today call Revenue Operations or RevOps.
Revenue Operations is a business function that aligns and streamlines people, processes and technologies to improve a company’s revenue growth. The primary goal of RevOps is to optimise business operations from lead generation to customer acquisition and customer service in a way that it generates maximum revenue. Besides these primary functions, RevOps is an umbrella term that also includes activities such as contract management, billing and invoicing, sales performance management, client relationship management and more, which means that Revenue Operations goes way beyond the acquiring and closing of a sale.
Sales enablement is aimed at fulfilling common goals, which is why it can be quite confusing to tell these two apart. So, before we dive into the reasons why it is time to shift from sales enablement to Revenue Operations, let’s see how and where they differ.
The primary focus of sales enablement is to improve and enhance the performance of the sales team and individual sales representatives, essentially, to close more deals. On the other hand, RevOps encompasses the entire revenue cycle where the focus is on optimising every single stage of the customer’s journey.
Sales enablement primarily deals with the functions of sales training, sales technology and sales processes. Revenue Operations involves every single function that can affect revenue growth, from marketing, IT to customer service.
Sales enablement strategy generally deals with sales metrics such as lead generation, deal close rate and more while RevOps strategies use wider metrics like customer retention rates, customer acquisition costs, customer satisfaction scores and so on.
The primary (only) goal of sales enablement is to enhance sales productivity which is achieved by improving win rates, generating quality leads and reducing deal close time. While one goal of Revenue Operations is also the same, its wider and most important goal is to optimise the entire revenue cycle and maximise revenue growth holistically.
In this fast-growing world, it has become imperative for businesses to constantly update their growth strategies with the changing times and evolving customer demands. In such situations, sales enablement may not be enough to reach your desired revenue goals, which is where RevOps comes into the picture.
For increased revenue generation, it is important to understand the entire revenue cycle from start to end, which includes lead generation, lead conversion, customer service and more. RevOps lends visibility and transparency across the sales pipeline, which help teams gather relevant data from various aspects of the revenue cycle; data that can then be used to optimise business strategies.
While sales enablement is entirely focused on the sales department, RevOps aligns together multiple teams such as marketing, sales and customer service, ensuring that everyone is working towards the same end goal. It provides all teams with the tools and processes required to increase sales productivity and eventually, enhance revenue.
A major advantage that comes with implementing RevOps is collaboration between teams. By breaking the silos and getting teams to work together to achieve one common goal, RevOps helps teams resolve challenges and roadblocks with a holistic approach, as opposed to individualistic solutions that do not take into account other teams’ strengths and weaknesses.
Lack of personalisation is a big challenge when it comes to sales enablement. RevOps on the other hand, takes the entire sales funnel into consideration and helps gather data from different departments in order to personalise the customer experience and eventually increase customer satisfaction and retention rates.
When different teams work in silos, it often tends to generate unorganised, messy data that causes errors and miscommunication between teams, thus leading to wastage of valuable resources and affecting the overall sales process. RevOps helps remedy this challenge by increasing visibility across the entire sales funnel and helping systemise messy data to reduce wastage and increase overall efficiency, eventually driving revenue growth.
Shifting from a sales enablement strategy to a RevOps strategy may seem daunting at first, but with the right guidance by automation solutions experts like TransFunnel, it can do wonders for your business revenue growth.
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