In a global economy that is witnessing unprecedented growth, especially in terms of technology and digitisation, no business can afford to overlook the role of RevOps or Revenue Operations in bringing together the three most essential aspects of their business - sales, marketing and customer service - under one roof in order to create a high-functioning, revenue generating business.
Often, while talking about RevOps, the terms Marketing Ops, Sales Ops and Service Ops are thrown loosely into the mix. While all these systems work towards the common goal of enhanced revenue generation and profits for the business, there are significant differences between each of these processes. But before we delve into these differences, let us first understand the what, how and why of Revenue Operations.
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Let us look at the above points one by one:
Revenue Operations is a business process that aligns the areas of sales, marketing and customer service in order to make optimal decisions aimed towards the performance and growth of activities that generate revenue. It helps foster cross-department visibility, strategic decision-making and enhanced functioning of all entities involved, along with reducing friction and ensuring that the wheels of the business are running smoothly and in the right direction.
Although Revenue Operations is a fairly new concept, studies show that companies adopting this solution have seen results as effective as 71% improvement in stock performance, 100-200% increase in digital marketing ROI, 15% increase in profitability - the list is endless. But how exactly does it achieve these results?
RevOps helps organise and fix haphazard data, helping businesses get accurate information required to make optimal business decisions. It helps bring different teams on the same page as well as declutter data in order to help retain the data that’s strictly necessary for business’s growth.
RevOps is essentially designed to align the various teams of an organisation with one clear goal - be it revenue growth, obtaining or retaining clients, expansion - whichever goal is decided by management. It is this single, clear goal that further helps unite the teams, highlight priorities, and develop strategies that will bring that goal to life.
Revenue Operations changes the structure [or mindset] of different teams from functioning as separate entities to one single, transparent goal. This helps resolve roadblocks faster, generate stronger, broader ideas and more, thus increasing sales - an ROI that you can’t put a price on.
In essence, Revenue Operations helps bring together the three main aspects of business - sales operations, marketing operations and service operations. The alignment of these teams boils down to open and seamless communication, which is majorly facilitated by RevOps. This communication further helps the different teams invest in efforts that are complementary to each other, instead of working in silos with no knowledge of the other teams’ efforts. A synergy is thus created between the sales, marketing, service teams and their workflows, which helps generate decisions and strategies that are not only aligned to the set company goal, but also eventually leads to smoother functionality, increased sales and revenue, ultimately, greater profits for the business.
To further understand how each of these processes work, we must first look at the differences between RevOps and Sales Operations, Marketing Operations and Service Operations.
As a HubSpot Elite partner, TransFunnel enables marketers to leverage their Revenue Operations to reach their set goals in the most optimal way possible. HubSpot offers a variety of solutions for businesses across sales and marketing, including but not limited to community management, branding, CRM, inbound marketing, automation and more. However, many businesses fail to seamlessly onboard and set up HubSpot’s solutions, which is where we step in.
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