With great growth comes great complexity. This is where revenue operations, or RevOps, comes in. Its main objective is to eliminate this problem as your company grows, uniting people, processes, and systems throughout the entire revenue cycle.
Here are some reasons why you need to implement RevOps to create an effective GTM strategy for your company:
01. Revenue Operations helps in tool management
As your business begins to scale, you’ll use many tools for business operations, and to minimize additional costs, RevOps helps with the acquisition, implementation, and maintenance of these tools under a single team.
According to a McKinsey report , 31% of businesses phone number list have at least one automated function. Today’s demand for effective management across all teams to increase revenue is urgently needed as organizations are rapidly moving toward automation for the sake of productivity.
However, another issue is that it can be difficult to decide which tools to include in your Revenue Operations technology stack due to the vast amount usa lists of software and applications available for customer-facing and revenue-related operations.
Studies reveal that a project’s scope will be ineffective when a company only uses 60% of a tool in its invested technology stack.
That’s why it’s essential to focus on integrating the tools your RevOps team can use and optimize them to execute the best GTM plan so they can successfully carry out their tasks.
Below are some considerations to keep in mind when building your RevOps technology stack:
- Current and adapted to the future
- Adaptable and flexible
- Accessible and easy to use
- Well designed and functional
With these considerations, you’ll have a solid foundation for choosing the right technology for your tech stack so your RevOps team can function effectively.
A RevOps team’s tech stack determines its success. Having the right tools will improve the effectiveness of the overall process.
All technology used by your marketing, sales, and customer success teams should be selected and implemented using RevOps. Revenue Operations is also responsible for evaluating the value these tools can bring to the business.
Effective tool management can help develop a successful GTM plan that can be used to increase the company’s revenue.
02. RevOps ensures the participation of all teams
One of the main problems facing organizations today is that different departments don’t interact well and don’t always agree. The sales team may say one thing, while the marketing team may tell the customer something completely different.
Due to different technology stacks and platforms, there will be significant data gaps between sales, marketing, and customer success teams. And as an organization expands, GTM teams grow and evolve, creating complexity and work silos.
However, the solution to this is RevOps.
RevOps ensures the coordination of each team’s strategy and objectives to generate predictable revenue. All teams are aligned by revenue operations, creating a cohesive and comprehensive customer experience.
03. RevOps provides greater clarity on ROI
Nowadays, almost everything is data-driven.
You’ll fail when you don’t know what’s working and what’s not. When teams work in silos, it’s difficult to know if campaigns or activities are generating a good return on investment, or ROI.
Companies are increasingly focusing on revenue growth forecasts because these forecasts are crucial to designing an efficient and effective revenue generation strategy.
RevOps provides accurate metrics that can be used to forecast revenue trends. It’s there to help your company better understand its return on investment post-processing for a polished finish by analyzing each activity holistically from a business perspective.
With RevOps, all teams maximize their capabilities, as they all keep customers engaged throughout their journey, generating predictable revenue. This will further influence decision-making when creating an effective GTM strategy.
Are you ready to adopt RevOps into your GTM strategy?
Every business is unique, but investing in Revenue Operations now can help you grow and scale faster with an effective GTM strategy, alleviating growing pains and freeing up funds to invest elsewhere.
How about taking your business to the next level? Well, we can help you with that. Schedule a meeting now to discuss how to take your company to the next level.