Do you know that money can grow on trees? No, I'm not talking about the literal sense, but in terms of your business revenue. While your commercial lead, head of sales, and account manager may each have their own roles in setting strategy, targets, and growing accounts, who makes sure it all fits together seamlessly? This is where Revenue Operations (or RevOps) comes in.
RevOps is a vital function that ensures the smooth operation of your business revenue. It covers a wide range of areas, but here are some of the key aspects you should be aware of:
- Data and Analytics - The first step to optimizing your business revenue is to measure, monitor, and optimize your data and analytics continually. Understanding your conversion rates and customer lifetime values (CLV) is crucial for business growth. Think of these as the branches and leaves of your business tree that need to be carefully nurtured to ensure they remain healthy and strong.
- Process and Automation - The difference between a functional CRM and one that is not can be massive. Before jumping into purchasing a CRM like Hubspot or Salesforce, it's essential to understand your business's unique needs and challenges. For example, automation of your form to auto-fill a G-sheet could be a great starting point. This is the trunk of your business tree, providing the foundation to ensure the rest of the tree can thrive.
- Operational Strategy and Common Goals - Ensuring that your SDR and BDM teams are informed about each other's functions and understanding the client's experience is vital. In today's world, clients want a frictionless experience that provides immense value. By focusing on building a promoter of your business, you'll be able to nurture the roots of your tree, allowing your business to grow healthily and sustainably.
RevOps is your Money Tree, a vital aspect of your business that ensures your business revenue growth stays healthy and sustainable. So how well synced are your revenue operations?