Thank God, not another RevOps definition…well almost.
RevOps definitions from other sources
RevOps (or “revenue operations’) is a B2B function that uses automation to help teams make decisions that grow the business. RevOps brings everyone together — from marketing, sales, service, customer success, and finance — around three shared goals: price for better conversion and margin, reduce revenue leakage, and use customer data to identify new revenue opportunities.
Source: Salesforce — What Is Revenue Operations (RevOps)? A Complete Guide:
Revenue operations (RevOps) is the strategic integration of sales, marketing and service departments to provide a better end-to-end view to administration and management, while leaving day-to-day processes within the departments. The holistic approach of RevOps is designed to break down silos between departments.
RevOps combines sales, marketing, customer success, and finance to align go-to-market (GTM) activities to accelerate revenue growth. It systematically optimizes every part of your revenue strategy and streamlines the people, processes, and technologies that impact it.
Revenue Operations (RevOps) is a business function that aims to maximize an organization’s revenue potential.How? RevOps drives full-funnel accountability through the alignment of Marketing, Sales, and Service across your organization’s process, platform, and people.When properly implemented, RevOps helps an organization rewrite internal operations, improve client acquisition, empower client delight, and establish a company culture focused on driving revenue.
What is RevOps? Here’s our take on it…
Some have defined RevOps as “Quote to Cash“. There are many things that need to happen to even get to the quote stage, so…
We like to include demand generation and lead acquisition in the RevOps process, so we call it “Lead to Cash“, in other words cradle-to-grave prospect lifecycle management.
The high level definition of RevOps is to align marketing and sales. Here’s our more thorough definition and explanation, according to Jeff Kemp:
RevOps = Optimizing processes to help better align internal teams (marketing, sales, customer success, finance, IT) for improved end-to-end marketing and sales data collection, prospect engagement, and reporting throughout the buyer’s journey to measure and increase effectiveness for maximizing an organization’s revenue potential.
The main point is that the goal of RevOps is to align marketing and sales both in terms of agreement by the different teams of what data should be collected and how, what criteria determines a qualified lead, how and when leads are sent to sales, and ideally how they are followed up on (and what happens if they aren’t), and using technology to the fullest to facilitate and govern the entire process. The result should be increased bottom line revenue. Bottom line because you aren’t only increasing top line revenue, but you are making people and processes more efficient in doing so, which directly affects your bottom line in terms of cost savings.
~Jeff Kemp | Optimal Business Consulting
RevOps is a relatively new term, coined maybe around 2020 or so, but turns out we’ve been doing RevOps for years without actually having a term for it.
You get the idea. Still confused, have questions, or just want to know more? Get in touch to see how Optimal Business Consulting can set up and put RevOps to work for your organization.