As a relatively new concept, there has been a contentious debate surrounding its precise definition. While some prefer to define it based on its result (i.e., "the alignment of sales, marketing, and service teams"), it can be more simply described as the art and science of achieving sustainable revenue growth. This involves delving into the process by which revenue teams can teach, measure, replicate, enhance, articulate, and implement growth strategies throughout the entire revenue cycle.
While there may be differing opinions on its precise meaning, there is virtually unanimous agreement on the importance of this concept. Every business aims to achieve sustained revenue growth, year after year, and this necessitates the adoption of effective strategies for facilitating the handoff from marketing to sales teams. This is where RevOps as a Service comes into play, offering a solution that can help organisations optimise their revenue-generating processes and boost their bottom line.
The Importance of RevOps in Modern Business
In the modern business landscape, many companies struggle with the fact that their sales and marketing experts may lack a comprehensive understanding of go-to-market (GTM) strategies or the ability to forecast revenue models accurately. This lack of expertise in revenue operations can hinder the growth and success of a business, as it requires a unique set of skills that most professionals do not possess.
To address this challenge, the concept of RevOps as a service has emerged. By partnering with a specialised RevOps company, businesses can benefit from the expertise of a team of professionals who can design and manage their revenue operations strategies on their behalf. This approach offers several advantages, such as access to a dedicated team of trained RevOps experts and the ability to streamline revenue operations for optimal efficiency and profitability.
RevOps adoption among businesses
Even though, RevOps is still a relatively new concept, and its adoption rate varies widely across different industries and businesses. While some organisations have already fully embraced this approach and integrated it into their revenue operations, others are just beginning to explore its potential benefits. According to a survey conducted by the research firm Forrester, only about 16% of B2B companies have implemented a formal RevOps model, while another 23% are in the process of doing so. The majority of businesses, therefore, are still in the early stages of adopting RevOps, with many facing challenges related to organisational alignment, data management, and technology integration.
However, the trend towards RevOps is expected to continue, as more businesses recognise the need for a holistic approach to revenue growth in today's highly competitive business landscape. RevOps has many benefits:
- Cost savings compared to hiring an in-house team of RevOps professionals.
- Increased bandwidth for current employees, enabling them to focus on other important company projects.
- Streamlined and efficient revenue operations, resulting in greater productivity and revenue growth.
- Expertise and knowledge of a specialised RevOps company, ensuring that revenue operations are handled by experienced professionals.
- Achieving revenue goals with the help of a dedicated team of trained RevOps experts.
RevOps and Marketing-Sales Handoff
When partnering with a team of RevOps professionals to manage your revenue processes, they may assess various areas to optimise your strategies. One such area is the marketing to sales handoff, which can greatly impact revenue growth.
A team of RevOps experts can analyse and improve the handoff process by streamlining communication, standardising lead qualification criteria, and implementing tools and metrics for effective tracking and reporting. By identifying potential bottlenecks and inefficiencies in the handoff process, a RevOps team can optimise the transition between marketing and sales, ultimately leading to increased revenue and customer satisfaction.
Marketing to Sales Handoff : What is it? Why is it Important?
The marketing to sales handoff is a crucial process that sets clear guidelines for primary ownership of contact communication as a lead transitions from marketing to sales. When this process is properly aligned, businesses can experience significant benefits.
In addition, businesses also gain reassurance that no leads will slip through the cracks, as there is a clear process in place to ensure proper follow-up and communication. The shared responsibilities between marketing and sales teams also foster a collaborative and accountable culture, ultimately leading to greater success.
It is important to note that this handoff occurs within a very tight window in the data model. This means that a seamless transition between marketing and sales is crucial in order to avoid losing the momentum gained from the lead generation process. A team of RevOps professionals can help optimise this process by implementing tools and metrics for effective tracking and reporting, standardising lead qualification criteria, and streamlining communication between teams. By doing so, businesses can ensure that they are maximising their revenue potential and delivering a superior customer experience.
What Results to expect
Once your RevOps as a service team has implemented the marketing to sales handoff processes, you can expect to see significant improvements in your revenue operations. The team will schedule recurring meetings between marketing and sales to discuss new data and ensure alignment between the two departments. This will result in the creation of an agreed-upon SLA, providing clarity and accountability for lead follow-up and qualification. Additionally, the RevOps team will establish a disqualified reason feedback loop to understand why leads are falling out of the funnel and how to improve the process.
An MQL audit report will also be created to provide a comprehensive overview of marketing qualified leads and their journey through the sales funnel. This report will enable the team to identify gaps and areas of improvement for lead nurturing and conversion.
At Real Inbound, our expertise in RevOps as a service can help ensure your team is operating at peak performance. With a solid marketing to sales handoff process in place, your team can focus on what they do best while leaving the revenue operations to the experts.
RevOps as a Service
Automation is only one of methods available to help elevate your revenue growth. To discover more about how to consistently develop operational performance and recognise gaps in your customer experiences, understand what RevPartners can do for your business!