How you address your daily tasks and core values comes down to your confidence in your revenue stability. This is especially the case for revenue operations in B2B businesses. B2B technology and B2B services are particularly challenging as sales reps in these industries expect conversion rates of 1.7% and 3.5%, respectively. When working within tight margins of success, you must ensure your lead pipeline is solid and efficient. Businesses with an optimized and mature lead gen process generate 133% more revenue than those without.
It is critical to expand upon and modernize your sales operations. One way you can do this is by stepping out of the traditional organizational structure and adopting a transformative revenue model that has been shown to improve revenue growth significantly - RevOps. So, what is RevOps, and how will it help advance your B2B sales initiatives? Before we cover what is RevOps, let’s start by covering the structure of a traditional business.
Understanding Traditional Business Operations
Traditional business operations refer to the structure of the teams within the organization. We can all picture the standard org chart and the departments that drop down from the senior leadership team. Companies can still apply modern technology and contemporary tactics within this operations structure, but there is a critical difference from RevOps that hinders alignment, efficiency, and overall sales maturity.
Key differences between RevOps and traditional operations
In a traditional structure, many roadblocks and dead ends are built in. This doesn’t mean that departments and leaders can’t collaborate, but it does mean that this communication isn’t intrinsic to the company’s design and strategy. Within these siloed departments, metrics are more insular, data becomes stockpiled, and tech stacks overlap and become disorganized.
Compared to a RevOps model, the strategic advantages of improved collaboration stand out. Revenue operations close the loop between the departments that affect your revenue growth, eliminating silos and dead ends. This better utilizes your resources and allows for more aggressive sales, marketing, and CX tactics to be implemented successfully. We’re ready to answer the question, “What is RevOps?” and discuss why it is particularly effective for B2B sales.
What is RevOps?
Now we’ll get into what is RevOps. Revenue Operations (RevOps) is a revolutionary business model that merges sales, marketing, and customer success departments. Revenue operations in B2B maximize the efforts of these previously separate departments by emphasizing collaboration AND efficiency. In this new structure, the singular revenue team will leverage the expertise and skills of all team members while unifying information, data, and goals. With such a small margin for error in B2B sales conversions, every advantage creates more space between you and the competition.
Benefits of implementing RevOps in B2B
B2B sales can be a long, arduous chase, as 63% of leads aren’t interested in converting in the first three months of engagement (source). Under a RevOps model, sales, marketing, and CX leadership can communicate and plan strategy with greater agility. This allows B2B RevOps organizations to capitalize on opportunities in real-time and aggressively pursue initiatives aligned with company values. Here are the core advantages of this business structure:
- Alignment - By breaking down silos, alignment between all departments that impact revenue is instantly created. RevOps also builds upon the connection between revenue and greater business values and missions. With revenue stability comes alignment between external messaging and activations and internal culture.
- Accountability - Accountability doesn’t just come from more eyes placed on the work that’s being done. A RevOps team is more tightly connected, meaning more hands are involved in each project, supporting its successful completion.
- Analytics - A RevOps model requires omnichannel tools that provide the necessary view to track larger projects and insights across teams. This makes data and information sharing simple and efficient. Having a data analyst or team of analysts can help explore how this new model can leverage the unique dynamics between sales x marketing, marketing x customer success, and sales x customer success.
It’s also critical that this unification creates an opportunity to accommodate the entire customer experience better. In a B2B setting, sales gain insights and resources that improve sales conversations. Leads are seeing more quality content ahead of their contact with sales, so they already have a connection to your brand and services. Existing customers have representatives more attuned to their needs for better upselling and reselling opportunities.
By combining your company’s revenue efforts and strategizing ways to leverage your RevOps team, you can better address the entire customer journey, from lead generation to customer retention.
Now that we’ve answered the question - What is RevOps? - it’s time to shift our focus to how to successfully implement this structure in an enterprise. With so many moving parts, shifting to RevOps can be significantly improved with a little outside help. Outsourcing B2B lead generation achieves 43% better results than keeping things in-house. This is because experts like Relequint already understand the quirks that go into this advanced revenue model. Working with Relequint can help your team focus on existing sales quotas and lead-gen projects while ensuring that your new RevOps team has the proper structure and strategy to take your company to a new level of performance and competition.
Schedule an obligation-free consultation to discuss your unique revenue goals and learn more about RevOps today!