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RevOps, as a methodology and a function, is garnering interest and adoption as a powerful tool for achieving the holistic, unified view that organisations need for revenue growth.
RevOps removes siloes and aligns teams to focus people, processes, and platforms toward a customer and revenue-focused growth culture.
Part one of our 2024 success strategies was account-based marketing; part two takes the broader viewpoint of RevOps initiatives to embrace for success this year.
Before teams can be aligned and unified, it’s vital to get the first step right, and that’s the holistic view to truly understand where siloes and redundant workflows lie. Systems thinking can overcome complexity, drive revenue growth, and make the perfect co-methodology for RevOps.
Instead of compartmentalising, systems thinking concentrates on interdependencies and workflows as part of larger environments. It can increase efficiency, enhance communication, and identify opportunities. It translates into revenue growth by enhancing the customer experience, empowering sales and marketing teams, and enabling innovation in new markets.
Growth system design uses systems thinking to create effective go-to-market strategies by optimising sales, marketing, and revenue operations. It, too, drives revenue growth and is a key concept in RevOps for mapping processes and customer journeys, monitoring and measuring success, and market innovation.
Part of growth system design is achieving a robust tech stack that integrates the holistic view, enables efficiencies, and drives new ones with AI, automation, and data insights.
Discover 5 Ways for CEOs and CTOs to Approach Growth System Design.
Legacy, outdated and underutilised, or poorly integrated technologies can work against the benefits of RevOps and systems thinking. These concepts can be understood but can’t be effectively put into practice if they stall in under-optimised digital workflows. With 50% of software applications and SaaS going unused in most organisations there are incredible efficiencies and cost savings to be achieved with a simple tech-stack spring clean.
RevOps and AI are also a perfect partnership that can be nurtured for revenue growth. AI can overcome some of the challenges of a RevOps strategy. These challenges include fragmented and high-volume data flows, achieving true customer understanding, and disparate metrics and goals. Powerful AI tools and AI-augmented platforms can do the work of process optimisation, empower data-driven insights, and improve sales and customer processes.
If you’ve integrated RevOps for some time but aren’t seeing success, AI could be the answer.
Cross-functional processes, technologies, and goal alignment are critical to organisational success. Rapid commercial growth, followed by digital growth, created silos that now must be dismantled to remove inefficiencies and ensure a product and customer focus with complete visibility of product information and customer history.
With RevOps data focus, aligned teams have visibility of every insight and every other team’s actions and goals. Appropriate steps in 2024 can include creating a physical RevOps presence with a cross-functional team of RevOps ambassadors, creating shared metrics and KPIs, and ensuring open and frequent communications channels between teams.
AI, particularly generative AI in 2023, has changed sales roles entirely. It can save a salesperson over two hours daily, allowing more time for critical revenue-generating tasks. This makes it essential to revisit sales team training knowledge, activity, and performance management as soon as possible. Failing to do so risks truly gaining the advantage of adopting AI and automation and using the time and customer insights AI delivers.
Revisiting sales team training and workflows can create human-AI sales teams with unparalleled customer understanding and revenue focus. It’s important to remember everyone is using AI, but not all are doing so effectively and also mitigating the risks of AI. Organisations that spend time integrating AI and upskilling existing workforces to be the human-in-the-loop can gain a significant competitive advantage.
Data-driven decision-making is another buzzword of today’s digital landscape and, again, will remain a buzzword if it’s not actually realised. The ability to turn raw data from all touchpoints into actionable insights is a critical business skill and a core component of RevOps.
AI and automation will build data capture systems and garner information directly from customers, but it relies on the complete removal of silos, an optimised tech stack, and human holistic oversight to pull data insights and make real-time decisions to iterate at the same pace as customer expectations.
Customer-centricity is a deep understanding of customer needs and preferences and the tailoring of products, services, marketing, and sales strategies to meet those needs. This focus builds strong relationships and increases loyalty, and it's driven by personalisation, which entails collecting and using customer insights from every touch point.
Today’s customers are able to do their own research; what they expect from a company is a sales and marketing approach that goes far beyond presenting a product. Customers want organisations to know and understand their pain points and act accordingly with rapport and connection to convince them why they should choose one product or service over a myriad of competitors.
It’s purposeful that the RevOps strategies we chose for 2024 reflect many of the concepts and methodologies we’ve been covering regularly at rev.space. The last element is no different: account-based marketing (ABM) is a key success strategy for this year because it incorporates and strengthens market and customer segmentation and in-depth customer personalisation.
Developing technologies means that ABM should also be revisited and revitalised with a holistic approach that involves effectively utilising AI, adopting tiering, refocusing sales teams, and nurturing strong relationships.
ABM and RevOps strategies also require continuous monitoring, measurement, analysis, and iteration to keep pace with industry and digital transformation and outpace competitors to achieve critical revenue success.
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