Revenue Operations (RevOps) exists to align your sales, marketing, and customer support departments with the ultimate goal of streamlining processes and growing revenue. A RevOps team, or team members, are responsible for combining resources, centralizing data, and streamlining processes and strategies across business functions to maximize revenue.
As most businesses want to grow revenue, in this blog we’ll look at the steps involved in building a revenue operations team structure for your business.
If you believe that your business would benefit from the RevOps structure, but you would prefer to delegate this part of the process, get in touch with us. We would love to help you move forward with building and implementing a RevOps organizational structure. Schedule your free consultation with a Bridges revenue operations expert today.
A Structure That Suits Your Business
Companies have traditionally focused on individual internal processes and resource management. However, increased connectivity has changed the way customers are doing business which is leading companies to change their operations management.
Utilizing a RevOps team structure increases collaboration amongst the sales, marketing and customer success teams while striving to improve the customer experience. It also requires the entire company to be adaptable and willing to pivot when needed as changes are needed and implemented.
By breaking down departmental silos and optimizing the functions of these teams, companies are driving revenue growth and forecasting with a smoother operations team structure.
So while there will be a cost initially, investing in a RevOps structure will pay long-term dividends.
Implementing a RevOps Team Structure in Your Organization
Company size will initially determine the revenue operations team structure that is developed. Early on, particularly with small companies, one employee from the sales, marketing and customer success teams may be given RevOps responsibilities as part of their job duties. Or someone from each of these teams may be placed on a RevOps committee to try to meet strategic goals and business process initiatives. Often there is no defined RevOps leader which may result in projects not being completed and decisions not being made.
As a company grows, or with larger companies, a separate revenue team may be created or team members tasked solely with RevOps functions placed in each of the customer-facing teams. At this level, there is usually a RevOps leader or team leaders. In most cases, they will report to whoever is in charge of revenue, or the chief revenue officer, if that position exists.
Define Your Goals
There are a couple of key things to remember as you work to establish your revenue goals. First, since revenue operations cover the entire sales cycle across multiple areas, including sales operations, marketing teams, and customer success departments, more KPIs, plans and targets will be associated with RevOps than any other company area.
The primary goal of RevOps leadership is to ensure all of these departments are working in unison to achieve these shared objectives thus creating a revenue-focused alignment. This alignment ultimately improves the ability to maximize revenue, streamline operations and identify areas for improvement.
Second, because all RevOps functions are equally crucial to revenue performance, all strategies and goals should be aligned and work in concert. Every function’s data must be shared across all teams to improve efficiency and refine the customer journey. Data mining practices also provide the finance team with the figures to forecast, analyze and plan the company’s financial health.
Revenue operations leaders must make plans cross-functional and collaborative. While executive leadership can set top-down goals and targets, revenue operations managers can utilize bottom-up plans as to how sales, marketing operations and customer success can meet both company and departmental goals. A good approach to revenue operations will define these common revenue operations metrics will be used.
Choose Your Tools
Revenue operations hinge on breaking down departmental silos and sharing data. Having the right tools in your tech stack to aggregate data from the organization to a single location is crucial to making data-driven decisions.
Utilizing the single source of truth (SSOT) method is how we handle revenue operations. Bridges uses HubSpot, a top-rated all-in-one platform for online marketing, marketing automation, sales enablement and customer success. While HubSpot at its core is a CRM, it offers so much more than that.
Set Up Processes
Consider these key principles when setting up and implementing good business processes:
- Document the processes
- Each process should achieve a set goal
- Identify someone as responsible for each process
- Each process should consider multiple scenarios
- Each process should be agile
Areas that may benefit from having established processes include:
- Human resources
- Affiliate programs or JV process
- Product development
See if your processes and structure work and what needs adjusting and aligning. Measure to see if your processes are performing to needed requirements; see if they are aligned to the needs throughout the departments, check for reliability, time requirements, costs, efficiency and compliance.
If any of your results didn’t come out as planned, do a post-mortem on what went wrong. Processes can be updated and teams changed to adjust for the desired results.
In summary, when it comes to growing your own business, creating a revenue ops team is crucial. This type of organization allows you to better manage your finances, optimize sales, and improve customer service.
Read More About RevOps
Thanks for reading and we welcome you to read more of the blogs in our RevOps series. We would love to help you explore the strategy further with a free consultation, simply click here.