The list of demands for contemporary marketers is growing.
While building brand awareness and generating leads for sales remain at the guts of their operations,
businesses want to ascertain how marketing efforts are impacting
their bottom line and identify opportunities to scale revenue growth.
While revenue growth is usually tethered to the thought of paying incremental dollars to grow both team and business,
revenue operations – RevOps for brief – essentially flips this script.
With the goal to support the customer lifecycle, RevOps uses technology and platforms to streamline and align internal team processes
and also to deliver insights and visibility across the whole revenue acquisition process.
By breaking down silos between marketing, sales, and customer service, and strengthening their alignment throughout the buyer’s journey,
RevOps enables revenue growth that affords investments in new hires, research and development, and more.
Here, we’ll dive deeper into the inner workings of RevOps — including a use case —
and explore what the increase of RevOps means for both marketers and marketing operations.
When businesses are within the early stages of the life cycle, their infrastructure is usually not built to scale.
With smaller prospects and customer bases, companies can take more of a white-glove approach, where 1:1 conversations occur across the customer lifecycle.
But because the company grows, this small-scale infrastructure loses its ability to assist growth
and retain customers thanks to inefficiencies and missing links in operations.
RevOps takes a strategic approach to streamline these operations by analyzing what sorts of support
marketing, sales, and customer service teams got to stimulate growth.
Brooding about these different areas of the customer lifecycle from a holistic perspective
helps pinpoint ways to optimize customer conversion points at every stage of the funnel.
On paper, RevOps can desire an abstract concept.
The simplest thanks to digesting RevOps is with real-world examples that illustrate how companies are embracing this approach.
A RevOps Example: SaaS Provider Increases Their Inbound Conversion Rate By 30%
A SaaS provider and long-time nummero client came to us with the goal of finding ways to enhance their
inbound conversion rates and operational efficiencies, while better reporting on their successes.
As a primary step, nummero performed a comprehensive lead capture audit where we identified redundancies in both fields and forms.
These insights empowered us to scale back requested information at different stages of the buyer’s journey and
set the team for fulfillment with changes to the overarching form strategy moving forward.
Other layers of the shape optimization process included:
Implementing a knowledge enrichment tool on key conversion points to form it easier to supply information and submit forms
Implementing hidden fields at the shape level to raise track and attribute source information to incoming leads —
with reporting built around these source details to accurately surface the best-performing channels
Building segmentation across the database to appropriately tag and manage contact activity by brand/services to raised position the SaaS provider’s offerings
By working across multiple platforms — specifically, Salesforce and HubSpot —
the nummero team was ready to ensure a seamless hand-off between marketing and sales, with the proper information provided to the proper people at the proper time.
Between the previous period and when the shape optimization was implemented,
the client saw a 30% increase in conversion rate across their website —
with additional SEO, content, and UX/design initiatives likely factoring into the equation also.
With increased visibility and accurate data around sources,
the marketing team could better understand and attribute resources to high-performance channels and enhance lower-performance initiatives.
So,By simply streamlining their lead routing process and putting the foremost engaging tactics in situ,
the SaaS provider saw significant improvements to their operational efficiency and inbound conversion rates —
all without having to spend a dollar.
The Impact of RevOps on Marketing Operations
Like any other marketing effort, getting started with RevOps has its hurdles.
But as more companies embrace this strategy and find ways to scale,
businesses that don’t will fall behind within the pack and struggle to stay up with their market’s needs.
To put this in perspective, Gartner predicts that 75% of companies will deploy a RevOps model by the year 2025.
As the above example illustrates, integrating RevOps into your infrastructure starts with collecting data.
While some businesses may have already got systems in situ to compile marketing, sales,
and customer service data, others may have to take a position in new systems
that give them the power to capture and analyze that information during a consolidated view.
While consistency is critical for data to accurately reported on,
it’s also important to see for areas where key metrics could also be missing altogether.
As an example, the new sales pipeline may have clear metrics —
from the typical sales cycle to new customer acquisition cost —
but the pipeline for sales renewals may lack insights into key factors,
like the share of consumers that expanded their products/services at renewal time.
So,By tying these ends together in one centralized platform like
HubSpot, relevant data often easily shared across marketing, sales, and customer service departments.
With a far better understanding of what’s driving conversions and drop-offs throughout the buyer’s journey,
marketers can sharpen their strategies and processes to develop collateral and workflows
that help their business better serve customer needs at every lifecycle stage.
Sales and marketing alignment alone can increase a company’s year-over-year revenue growth by 32%. And once you bring customer service into the fold, a company’s profits have even more room to grow.
In an age where organizations are looking to maximize their ROI at every stage of their customer lifecycle, RevOps delivers.
With deeper insights into the entire customer experience,
So,marketers can engage in additional impactful initiatives that deliver real results across departments
and in doing so, prove their value to the company’s bottom line.