In the last few years, revenue operations (a.k.a. RevOps) have become one of the most talked-about topics in the business-to-business (B2B) space. It's been proclaimed as a game-changing concept that will change how modern B2B companies align for the better-to drive growth.
In this blog, we're going to explore what RevOps is, trends to watch for, and challenges businesses are finding as they shift towards a RevOps model internally.
What is RevOps?
Fundamentally, RevOps is a crossover of the standard go-to-market structure. In other words, it's a joining together of operations in sales, marketing, and customer success.
Its purpose is to both integrate and align the operational functions that power an organisation's revenue engine under a single team structure.
By joining these functions together, businesses have the opportunity to maximise growth and performance across the entire chain of revenue.
Notable trends identified by enterprise leaders
More and more, business leaders are realising that RevOps is a must for companies that are hoping to measure up to and outperform their competitors. In fact, data collected by SiriusDecisions proves that when B2B organisations are aligned across the revenue engine, business performance improves (19% faster growth, and 15% more profitability). It also showed that companies with a dedicated RevOps arm surged from 20% to 31% in just one year.
Here are some other RevOps trends to consider:
- Consistent revenue growth is an overall challenge in B2B organisations
- Sales and marketing have an equal share in revenue responsibility
- Customer experience is believed to be the key to unlocking growth and removing organisational silos
With this data in mind, organisations are opting to shift towards some sort of RevOps structure-whether that be centralised, partial, or virtual.
A key piece to the RevOps puzzle is also the implementation and use of a CRM.
Common barriers to adopting a RevOps structure
Since RevOps is emerging and there are different structure models, no "one size fits all" approach exists. That said, every organisation approaches its integration based on needs and other prominent variables.
The biggest challenge to adoption: organisational culture. Change is hard to encourage, and depending on the type of business, that can truly be an uphill battle. The other top challenges are:
- Siloed data
- Organisational maturity/complexity
- Support from leadership
- Awareness of RevOps
If your organisation is willing to face these challenges head on, then you're setting yourself up for strides in growth and further alignment.
Original source: State of Revenue Operations 2019 report by LeanData and Sales Hacker