Sales enablement is a hot topic in the business world right now. We all want to know how to get our sales teams firing on all cylinders. But what if we told you that there's a new way to think about sales enablement?
It's called Revenue Operations, or RevOps, and it's quickly gaining traction as the new way to help get your sales teams (along with everyone else) to hit their full potential.
So what is RevOps? Simply put, it's the process of aligning your revenue operations (sales, marketing and customer success) to achieve your company's overall growth goals. It's all about working together to grow your business.
Sounds pretty damn good so far, right? But you might be wondering, why should I bother with RevOps when my existing sales enablement is working just fine?
Well, that's why we're here. We're going to dive into the world of Revenue Operations and show you why it's quickly becoming the new standard for sales enablement.
So without further ado, let's get into it!
What Is RevOps?
Simply put, Revenue Operations is the term used to describe the set of processes, people and technologies that are required to manage and optimise revenue generation. The goal of RevOps is to streamline and optimise the entire revenue generation process, from initial customer engagement through the entire sales process and beyond.
RevOps encompasses a wide range of activities, including but not limited to:
- Lead Generation
- Customer acquisition
- Customer onboarding
- Contract management
- Pricing and quoting
- Sales performance management
- Billing and invoicing
- Client Relationship Management
This means that Revenue Operations goes way beyond the sale. It encompasses the entire customer journey, from acquisition to conversion and beyond into retention. And because it's focused on growth, RevOps breaks down silos and help marketing and sales departments work together more efficiently.
For example, let's say you're a SaaS company. Your marketing department might be focused on acquiring new customers, while your sales department is focused on selling to them. But what happens after the sale is complete? That's where your customer success teams come in.
Customer success is all about driving customer satisfaction and ensuring clients are happy and successful with your product. By aligning your marketing, sales, and customer success teams, you can create a seamless and unified customer experience that turns clients into evangelists and guarantees long-term success.
Sales Enablement Vs RevOps: The Key Differences
Sales enablement and Revenue Operations share some common end goals so it can often be hard to tell them apart. It's probably a good idea to take a moment to highlight the key differences between the two concepts.
The main focus of sales enablement is on improving the performance of individual sales reps and executives. This is done by providing them with the resources and training they need to generate and close more deals.
In contrast, RevOps takes a holistic view of the entire revenue cycle. The goal is to optimise every stage of the customer journey in order to maximise revenue growth. Sales enablement is focused on the micro, while RevOps is focused on the macro.
Sales enablement generally falls into three main categories: sales training and education, sales tools and technology, and sales process and methodology.
In contrast, RevOps encompasses training, tools and processes for every function that touches revenue. This includes sales, marketing, customer success, finance, and IT. It's a much more comprehensive approach that takes into account the entire revenue ecosystem.
The primary goal of sales enablement is to improve sales productivity. This is typically done by increasing the number of qualified leads, improving win rates, and reducing the time it takes to close a deal.
RevOps also has the goal of improving sales productivity. However, in addition to this, Revenue Operations teams also aim to maximise overall revenue growth. This is done by aligning sales with the other key business functions, mainly marketing and customer success, around preset goals and KPIs.
Sales enablement is typically concerned with providing resources and training to sales reps and executives. This can include anything from onboarding new hires to providing ongoing education and support.
RevOps, on the other hand, takes a broader view of the entire revenue cycle. In addition to sales, Revenue Operations teams also manage marketing and customer success. This means that RevOps teams have a much wider scope than sales enablement teams.
Sales enablement teams are typically part of the sales department. They are usually led by a Sales Enablement Manager, and they report to the Head of Sales.
Revenue Operations teams, on the other hand, are interdisciplinary teams that bring together experts from sales, marketing and customer success. RevOps teams are usually led by a Revenue Operations Manager, and they report to the Chief Revenue Officer.
Tools and Technologies
Sales enablement teams typically use CRM systems and marketing automation platforms to track data and manage processes. They may also use training management platforms to deliver online training courses.
RevOps teams use a wider range of tools and technologies. They use an integrated technology stack which, in addition to CRM systems and marketing automation platforms, also includes data analytics platforms and business intelligence tools. This enables them to gain a deep understanding of the customer journey and optimise each stage of the cycle.
Sales enablement teams typically have a linear process that focuses on providing resources and training to salespeople.
On the other hand, the RevOps process is more data-driven, and it includes an additional step for analysing data from multiple departments. This enables Revenue Operations teams to constantly refine and improve their processes.
Sales enablement teams typically measure metrics such as leads generated, sales pipeline progress and deal close rate. These are all critical metrics, but they only give a partial picture of the sales cycle.
RevOps teams use a wider range of detailed metrics that include both marketing and sales KPIs alongside customer satisfaction scores, customer retention rates and levels of service utilisation. This gives them a more complete view of the revenue cycle and enables them to optimise each stage of the journey.
Sales enablement teams typically see results in the form of improved sales productivity. This can be measured in terms of increased sales, higher win rates and reduced time to close.
Revenue Operations teams also see results in the form of improved sales productivity. However, in addition to this, they also see results in the form of overall revenue growth. This is because RevOps teams are able to align the sales, marketing and customer success functions around a common set of goals and KPIs.
Why Should I Shift From Sales Enablement to RevOps?
Perhaps your company has outgrown its sales enablement strategy. Or maybe you’re not seeing the results you want from your current sales enablement efforts. If this is the case, then it may be time to shift from sales enablement to RevOps.
There are several reasons why you might want to make this shift:
Improve Sales Productivity
Sales are central to business growth. For your company to succeed, the sales team needs to be effective.
RevOps provides sales teams with the tools and processes they need to be productive. By aligning the sales, marketing and customer success functions, RevOps ensures that everyone is working towards common goals.
This increases visibility into the customer lifecycle and enables businesses to make data-driven decisions. Information from marketing and client success departments can be leveraged to ensure your sales team is well-informed on what customers respond to at every stage of the journey.
Increase Visibility into the Entire Revenue Cycle
In order to grow revenue, you need to understand your entire revenue cycle. This includes understanding how leads are generated, how they progress through the sales pipeline, how deals are closed and why customers stay.
RevOps provides businesses with this visibility. It brings together data from all aspects of the revenue cycle and provides insights that can help your businesses grow revenue.
Improve Efficiency in the Revenue Cycle
By understanding where bottlenecks occur and where inefficiencies exist, you can make changes that result in more efficient and effective sales processes.
For instance, if you find that the sales team is spending too much time on administrative tasks, you can make changes to the way leads are managed or the way information is shared to reduce the amount of time spent on these tasks.
Increase Collaboration Between Teams
By aligning sales and marketing goals, RevOps helps you to break down silos and work together to achieve common objectives.
If marketing is generating a high volume of leads, but your sales team is not closing them, RevOps can help you identify the problem and find a solution. This could involve changes to the lead qualification process or training for the sales reps and executives.
Improve Forecasting Accuracy
Forecasting is an essential part of any business, but it can be difficult to get right. RevOps can help you improve forecast accuracy by providing insights into historical data and trends.
This information can help you understand what has worked in the past and what may work in the future, allowing you to make more accurate predictions about revenue.
Drive Revenue Growth
Ultimately, the goal of RevOps is to drive revenue growth. By improving efficiency in the revenue cycle, increasing visibility into the entire process and increasing collaboration between sales and marketing, RevOps can help you achieve your growth objectives.
If your business is looking to grow revenue, shifting from a sales enablement focus to a RevOps strategy is the best way to achieve this. With the benefits of RevOps, your business can improve its efficiency, visibility and collaboration in order to drive revenue growth.
Optimise Each Stage of the Customer Journey
The customer journey is the path that customers take from becoming aware of a business to becoming paying customers. In order to grow revenue, you need to optimise each stage of this journey.
RevOps provides you with the insights you need to understand how your customer base interacts with your business. This information can then be used to make changes, create a consistent customer experience and drive revenue growth.
Improve Customer Retention
Customer retention is essential for long-term revenue growth. If your business is losing customers, it will eventually run out of new customers to replace them.
RevOps can help businesses improve customer retention by providing insights into customer behaviour. This information can be used to identify at-risk customers and take action to prevent them from churning. This can not only extend customer lifetime, but also help to turn your customers into evangelists for the company.
While the goal of RevOps is to grow revenue, it can also help you cut costs. By increasing efficiency in the revenue cycle and improving forecasting accuracy, you can reduce the amount of money that your business spends on sales and marketing. This can free up resources that can be used to invest in other areas of the business.
In addition, RevOps can help you improve marketing ROI by providing insights into which marketing activities are most effective at driving sales. You can use this information to redirect marketing budgets to more effective channels and campaigns.
How to Shift From a Sales Enablement Strategy to a RevOps Strategy
With the benefits of RevOps, it’s clear that you should make the shift from a sales enablement focus to a RevOps strategy. But how do you make this shift?
1. Define Your Revenue Goals
The first step is to define your revenue goals. What are you trying to achieve? Do you want to grow revenue by 10 percent? 40 percent? 100 percent? Once you know your goal, you can start putting together a RevOps strategy that will help you achieve it.
2. Assess Your Current Situation
You can't develop a successful RevOps strategy without first understanding your current situation. You will first need to ask yourself a bunch of questions. What is working well? What needs to be improved?
Start by assessing your current sales and marketing processes. Are they aligned? Do they have the same goal?
You should also assess your current tools and technologies. Are they up to date? Do they provide the insights you need to drive revenue growth?
Finally, you should assess your team's skills and knowledge. Do they have the necessary skills to implement a RevOps strategy?
If you find that your current situation needs improvement, don't worry. This is normal. The goal is to identify areas where you can make changes that will have the biggest impact on your business.
3. Identify Gaps in Your Current Process
Once you've assessed your current situation, you can start to identify gaps in your process. These are areas where your sales and marketing processes are not aligned or where there is a lack of visibility.
For example, if you find that your sales team does not have access to the same information as your marketing team, this is a gap that needs to be filled.
Other common gaps include a lack of alignment between sales and marketing goals, a lack of communication between team members, and a lack of visibility into the customer journey.
4. Put Together a Plan to Fill Those Gaps
Once you've identified the gaps in your process, it's time to put together a plan to fill them. This will involve IMPROVING your sales and marketing processes, adopting new tools and technologies, and upskilling your team.
The goal is to close the gaps so that you can start working towards your revenue goals.
5. Implement Your Plan and Track Results
Finally, you need to implement your plan and track the results. RevOps is an ongoing process, so it’s important to track your progress and make changes as needed.
Remember, you can always seek professional help if you need assistance with making the shift to RevOps.
Now It's Time To Achieve Success With A RevOps Strategy
So there you have it: everything you need to know about RevOps and why it’s the best way to grow your business. Given its holistic and data-driven approach to managing the revenue cycle, RevOps is the key to unlocking sustainable and predictable revenue growth.
If you’re ready to take your business to the next level, it’s time to make the shift from sales enablement to RevOps. With RevOps, you can achieve your revenue goals and create a more efficient and effective organisation.