In this article, we'll explore Revenue Operations (RevOps), and the benefits implementing a RevOps function can have on your B2B marketing strategy.
What Is Revenue Operations (RevOps)?
RevOps is a dedicated business process that drives more predictable and sustainable revenue (source: The Pedowitz Group).
RevOps recognizes the impact different teams have on one another and how conflicting objectives and a lack of communication can lead to missed revenue opportunities.
The RevOps concept isn't new; however, it has recently become a fast-growing function dedicated to centralizing departments to work better together. RevOps focuses on creating revenue-generating, aligned teams by breaking down the silos between:
- Customer Success / Service
Ultimately, RevOps exists to streamline opportunities for revenue growth by improving cross-department communication and encouraging teams to work towards shared goals.
Revenue is now a team sport that involves Marketing, Sales, and Customer success fully and effectively aligned."
Dr. Debbie Qaqish Chief Strategy Officer at The Pedowitz Group.
3 Key Benefits of RevOps
As a Marketer, you know the importance of understanding precisely who your target audience is.
You need to know everything about your current clients and the prospects you want to turn into future clients. From their business focus areas and pain points to the best ways to reach and engage with them, getting to know your audience and their changing needs isn't always easy.
So what if there was a way to make it easier to do your job?
*Cue* Revenue Operations!
RevOps exists to deliver visibility across your internal departments. RevOps focuses on alignment for the greater good. For your Marketing department, that means a much deeper and more accurate insight into what your customers want and need. Which should be music to your professional Marketer's ears!
To implement a RevOps process within your business, all departments need to be onboard and understand the value. So, let's explore three key benefits of RevOps for your B2B marketing strategy.
RevOps Benefit #1 - Increased Understanding of Your Target Audience
One of the most apparent benefits of RevOps is improved cross-department alignment, which leads to better internal communication.
Working towards common goals and understanding each team's challenges will help you better understand your target audience. RevOps will help you deliver a marketing plan that is not only aligned with your internal teams' needs but, more importantly, is what your customers want.
As Marketers, we've all experienced marketing campaigns that haven't entirely gone to plan. Perhaps the messaging didn't resonate with your audience as you'd expected, or you created sales enablement collateral to support your Sales team that never gets used.
RevOps is designed to tackle those issues head-on by improving cross-department communication. And as we all know, better internal comms lead to a better understanding of what each team needs and, ultimately, what will resonate with your audience.
As the table below shows, the negative impact misalignment can have between teams is huge, with missed opportunities for revenue and poor customer experience being the most significant consequences.
RevOps Benefit #2 - Improved Customer Experience
We all know that creating value for customers should be at the heart of any marketing strategy. But it's also easy to lose sight of putting customer experience at the heart of everything you do, all day, every day.
However, the benefits of improved customer experience are tenfold. Happy customers lead to shining reviews that drive repeat business, referrals, and more.
Therefore, it's no surprise that research from our friends at the Pedowitz Group found that overall, the top driving factor of working toward alignment for Marketing, Sales, and Customer Success teams is "improving customer experience."
How Does RevOps Improve Customer Experience?
RevOps improves customer experience by aligning Sales, Marketing, and Customer Success teams.
Firstly, RevOps drives a better understanding by all departments of who your customers or clients are, from your existing customers to lost and prospective customers.
For example, suppose your Customer Success team shares regular insights with your Marketing and Sales teams. In that case, it will enable you to make more strategic decisions based on real-life customer examples.
A RevOps approach will help you create more value-driven and education-led marketing campaigns based on your customers' known pain points.
Furthermore, you'll be able to work more closely with your Sales team to provide them with sales enablement resources and tools that give your prospective and existing customers more value.
RevOps Benefit #3 - Unlocking Growth Mode
Finally, effective RevOps unlocks growth mode.
What do we mean by that? Well, RevOps supports your ultimate goal as a marketer; revenue growth.
From a marketing perspective, you'll support growth mode by better understanding your audience. Plus, how your team can better help your Sales and Customer Success teams.
In their latest report, The RevOps Difference, the Pedowitz Group surveyed over 500 Sales, Marketing, and Customer Success professionals about their take on RevOps. They found that 88% of the companies surveyed met or exceeded their revenue goals in 2021, and of those companies:
RevOps & B2B Lead Generation
A great example of the impact RevOps can have on your B2B marketing strategy can be seen in your B2B lead generation activities.
For example, your lead generation campaigns can benefit from a RevOps function by increasing:
- Your understanding of who to target. Including your knowledge of who's involved in the purchasing decision for your products or solutions, e.g., the decision-makers, users, influencers, and different departments.
- Your knowledge of the sales opportunities and how your marketing strategy can align with these focus areas.
- Insights into what campaign messaging and content will resonate with your audience. Thanks to in-depth and more regular insights from your Customer Success team, you'll have a better understanding of your customers' FAQs and pain points.