RevOps is fairly new in the world of sales and marketing, but its popularity is on the rise. Here's an overview of what exactly revenue operations is and three of the top emerging trends that we think you need to know.
What is RevOps?
Revenue operations is a centralised function that serves all your revenue-generating teams including sales, marketing and customer success. Traditionally, each department within a business has its own operating function and they each report to the head of their division. This means sales operations report to the Head of Sales and marketing operations report to the Head of Marketing etc. Each team has their own set of goals and priorities and, for the most part, it works.
The challenge with this way of working is that each division is separated. The goals and priorities are all different and this makes coordination and alignment a lot harder to implement.
This is where RevOps comes in.
Revenue operations provide the opportunity to bring all those teams together and be more transparent about driving revenue across marketing, sales, upsells and renewals. RevOps allows you to focus on:
- Your people by aligning your teams around single goals and targets
- Your data by better connecting your tech-stacks
- Your processes by streamlining what you do across the business.
Trend 1: Rise in RevOps job titles
With the traditional approach not working quite as well anymore, RevOps is naturally finding its place in the world. Companies are realising the importance of alignment across teams as tools and data become more and more interlinked across the board. This has led to a significant increase in revenue operations job titles being advertised across industries.
In the past 18 months, Revenue Operations job titles on LinkedIn have increased by 300%.
This is particularly true for the top positions including VP of Revenue Operations, Chief Revenue Officer and Director of Revenue Operations. The increase is especially noticeable when compared with their sales counterparts.
Trend 2: Rise in RevOps tech stack
With more positions in revenue operations, comes new technology for revenue operations. A key trend that will ripple through businesses is the process of streamlining and integrating communications for internal teams and external stakeholders with platforms like Slack.This speaks to the very core of RevOps by ensuring your team, data and processes are all perfectly aligned and in sync.
Trend 3: Business agility
Being able to adapt, adjust and shift when needed has always been an important business skill. But it's never before been as necessary as it was in 2020. And it's not over. 2021 is still full of uncertainties and questions leaving the wider market very much up in the air.
Business agility means your company can be prepared for whatever the world throws at you as you can quickly chop and change your strategy. So, what has business agility got to do with RevOps? Revenue operations bring all your teams together and develop a strategy that accommodates everyone's needs.
This means that should you need to change tact, everyone is on the same page making the whole process a lot easier and much more seamless.
Why is RevOps important in 2021?
All these trends and more are on the rise right now. Utilising revenue operations within your business will help you better align your teams, better connect your data and tech-stacks and streamline your processes for maximum agility. And as the unknown continues, there's never been a better time to make a change for the better.