According to Boston Consulting Group, businesses that invest in RevOps experienced a 10-20% increase in their sales productivity.
RevOps has brought a revolutionary change in the world of business. Companies with low sales have experienced immense growth with their implementation. RevOps focuses primarily on improving business revenues by aligning significant departments.
In simple words, if you are struggling with sales, implement RevOps in your business as soon as possible. Besides, if you aren’t sure about investing in it, learning about its benefits might help. Below we have shared the top five benefits of RevOps. Go check the list out!
What is RevOps?
Before getting started with the benefits of RevOps, let’s give you its basic overview. Revenue Operations (RevOps) aims to maximise a company’s revenue potential. How? RevOps allows you to centralise all your processes by aligning marketing, sales and customer service.
When properly implemented, RevOps helps a company optimise internal operations, improve customer acquisition, boost customer satisfaction, and establish a revenue-driven corporate culture.
A company’s revenue isn’t just the result of a great product or state-of-the-art service. No, it’s the result of coordinated action between a company’s marketing, sales, and customer service departments. That’s RevOps’ mission: “Relentlessly generate and maximize revenue to grow your business.”
Now that you have a good idea of what exactly RevOps is all about, let's move on to another important topic. Keep scrolling to discover the benefits of RevOps!
Benefits of RevOps You Might Not Know About
The benefits of RevOps aren’t limited to the list given below. But to make things simple for you, we have just focused on the primary ones. They are as follows:
#1 Breaking Silos Between Teams
RevOps is all about creating alignments between departments and teams in your business. It does that by breaking silos between teams. When there’s the presence of silos, information will shuffle between teams unevenly. This results in the utilisation of unnecessary resources and the shuffling of data in an inappropriate way. One of the ways RevOps ensures proper utilisation and righteous data access is by implementing a RevOps CRM.
A CRM is an advanced technology which enables businesses to manage employees and customers effortlessly. With RevOps enablement in CRM, administrators have the ability to restrict access to data and tools. With restriction features, each team will have limited and project-centric data access. There will be no silos between teams, which will ensure data is utilised in the right way and by the right people. Also, when Revops and CRM are used together, your business scales faster than expected.
#2 Improved Internal Alignments
Sales and marketing alignment is a traditional challenge businesses have been struggling with for ages. With time, customer success and finance have become an integral part of sales and marketing alignment. Both of them are equally important to maximize revenue and boost growth. But still, the issue remains the same - there’s no leadership placed on these four areas. RevOps resolves this issue by placing these four teams under one-dedicated supervision.
With a RevOps team under control, it becomes their responsibility to ensure proper alignment of aligned teams and departments towards common revenue objectives. With the establishment of proper alignment, your business can offer a consistent and better customer experience. In return, this will offer excellent customer satisfaction, better lead retention, revenue predictability and higher conversion rates. In other words, your revenue will grow consistently in the long run under RevOps supervision.
#3 Data-Driven Decision-Making Process
One of the priorities of RevOps is the proper optimisation of business tools and programs that help in revenue generation. More specifically, it ensures that data is accurate and centralised, allowing teams to have the same information. Besides, the ability of RevOps to maintain data accuracy also improves visibility, forecasting and better performance metrics of strategies.
How does it help strategies in that way, you might ask. The performance of strategies is improved with data-driven decisions. RevOps allows businesses to make decisions based on data and facts. Decisions that are derived from data offer businesses the ability to market more confidently, capitalise on opportunities better, and get more sophisticated insights. In other words, it helps outcast competition effectively.
#4 Optimised Customer Experience
Customer experience is one of the major factors responsible for the growth of revenues. When customers receive the best shopping experience, they will tend to return for more purchases. This will increase sales and, therefore, grow revenue. With RevOps, businesses can offer a better customer experience throughout the customer journey. Your team will be able to communicate better with the customers and share necessary data with time.
Moreover, RevOps will also streamline your business processes, making customer journeys smoother. In today’s competitive market, the importance of customer experience is more than what it used to be before. It’s not an exception anymore but a necessity for every business. RevOps is an efficient way of improving customer experience. Therefore targeting and converting customers efficiently and conveniently.
#5 Boost Business Growth
An exceptional benefit of RevOps is it unlocks growth mode. In other words, RevOps supports your primary goal as a marketer or business owner i.e. revenue generation. So how does RevOps do that? Well, it helps the marketing team better understand the target audience. The knowledge and insights from that understanding can benefit not just the marketing team but the customer success and sales team as well.
Sales teams can analyse their pitches and sales techniques according to customer data derived by RevOps. Any inefficiencies can be resolved before time to maintain sales consistency. When it comes to the customer success team, they can get the most out of the data RevOps derived. They have everything to do with the customer itself and their satisfaction. With the 360-degree view, RevOps offers, customer success teams can improve areas such as lead generation, retention and, thus, revenue.
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Maximizing revenue is the major objective or goal of almost every business, it doesn't matter which industry. If you are struggling with revenue growth, it’s time to introduce RevOps into your business. Revenue generation can become effortless when sales, marketing and customer success departments are aligned together.
RevOps gives you the ability to make direct connections between these departments. Moreover, it also allows businesses to properly utilize customer data to improve customer experience and, therefore, revenue. So if you weren’t sure about RevOps before, we hope learning about its benefits gave you some clarity.