There are over 30 million businesses in the U.S. alone. It's no secret that most markets are highly competitive, and that getting your company noticed is a challenge. How do you build a marketing strategy that will provide a high ROI and attract your best-fit customers?
Many companies are adopting a newer method of business operations known as Revenue Operations, or revOps. This strategy promotes alignment across all teams that are involved in the customer life cycle. RevOps has been on the rise in recent years; the number of job openings that have "Revenue Operations" in the name has grown exponentially.
What could be the benefit of RevOps for your marketing strategy? Read on to discover more!
What Are Revenue Operations?
First, let's define what we mean by Revenue Operations. RevOps is a business strategy that was created with the goal of increasing visibility and accountability within a company by synchronizing data, team goals, and processes. This entails aligning sales, marketing, and customer service teams under the same goal of increasing revenue, and giving each team access to the same customer data. This strategy encourages collaboration between these teams so they can get a better understanding of customer needs and solve for their pain points.
RevOps takes on a wide variety of functions and seeks to relentlessly drive growth by creating delightful experiences for customers and establishing full-funnel accountability.
How RevOps Can Benefit Your Marketing Strategy
Your marketing strategy is your game plan that includes how you reach your leads and convert them to customers. Unfortunately, this is often much easier said than done.
Now that we're clear on the meaning of Revenue Operations, what can it do for your marketing strategy?
Synergy and Communication
When you align your sales and marketing teams, you create synergy. This makes it easier for marketing to pass on best-fit leads to the sales team. If marketing knows what types of leads ultimately convert, they can alter their strategy to target those who fit that criteria. And sales should be well-versed in the current marketing strategy so they know what information the incoming leads have had access to.
By enabling clear communication, setting shared goals, and defining the mission, you can make your teams more efficient and effective.
Optimal Customer Lifecycle
While creating synergy between sales and marketing may seem like a no-brainer, RevOps actually takes it a step further. When following the concept, you actually include customer satisfaction as an integral part of your plan.
By putting a more intentional focus on your customer, you raise the value of your customer lifecycle and increase your ROI.
What is one of the key metrics that we use to measure business success? Profits and revenue!
According to Boston Consulting Group, top B2B companies that tightened their alignment between their go-to-market teams saw a 100-200% increase in digital marketing ROI. These results alone should be enough to show you that RevOps is worth it.
When you create the most efficient and effective team that you can while focusing on your customers' needs, your potential is limitless.
Everyone Else Is Already Doing It
If you don't change with the times, you often get left behind. Revenue Operations roles are rapidly increasing and have already surpassed sales operations roles on LinkedIn.
With so many companies recognizing the benefits of RevOps, don't you think it's time to take the plunge and see for yourself?
Taking Your Business to the Next Level
You can tweak and trim your marketing strategy in a million different ways. What works for one business may not work for another. But when it comes to Revenue Operations, the results speak for themselves. Promoting collaboration between your sales, customer service, and marketing teams is likely to help increase efficiency and improve customer satisfaction and retention.
An effective Revenue Operations strategy starts with the right digital tools. Not sure where to start with building a Revenue Operations tech stack? Our eBook, The Beginner's Guide to a Revenue Operations Tech Stack, will set you on the path towards a more efficient workforce. Follow the link below to download for free.