If you want to implement your own RevOps team, consider some of the tips below:
Conduct an audit first
Before you can employ a RevOps team, it may be helpful to first consider what parts of your business require adjustment through an audit. You can do audits for each department or an overarching audit for the entire business. It may be best to do your audit externally to have an objective perspective on your business performance. When auditing, consider checking all software involved in your business processes to help ensure that there’s little to no technology overlap.
Document action plans
Once your business undergoes an audit and tech check, document all information to prepare for gathering your RevOps team. An important part of a successful operations team is the reliability of the data that revenue teams use. Consider preparing documents that summarize all inbound and outbound sales, customer service details and content marketing efforts for your revenue operations team. The more information you can provide to your team, the more effectively they can work to improve your company’s profits. Once you’ve determined your action plan, create a deadline for each goal based on a flexible timeline.
Carefully select leaders
When creating a RevOps team, consider carefully who you’ll assign to lead the group. Because the team works within every department, it may be beneficial to have members with different expert knowledge from each major area of the business. Consider scheduling frequent meetings with leaders from the marketing and sales departments so that everyone has a unified understanding of the revenue generation process and what needs to change to reach new profit goals.
What’s the difference between sales operations and RevOps?
The difference between the two is in their actions and how many departments each team affects. A company may have a sales operations team that focuses on creating efficiency within the sales department alone. Sales operations teams focus primarily on sales of a business rather than on how a business generates those sales. They may know which other departments affect sales but only have the jurisdiction to change elements about the sales department directly rather than extending change to the entire business model of a company.
Compared to sales operations, RevOps teams have a much broader scope of action. Revenue operations strive for efficiencies in all departments that impact revenue increases or decreases. Just as a sales operations team works to reduce churn costs within a sales department, a RevOps team works on a larger scale to reduce churn throughout the entire company. RevOps teams focus on making the entire revenue-gathering process even more efficient and profitable.
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What skills are required for RevOps?
There are many skills that can help a RevOps team succeed, including:
Leadership
Leadership is important for a RevOps team because the entire team leads in multiple change operations throughout the company. Team members should be comfortable leading other departments to both suggest and implement changes as the business improves. Because RevOps teams meet frequently to discuss progress, members may need leadership skills to organize and explain current changes while demonstrating action plans for future ones.
Industry knowledge
RevOps team members all need a certain level of industry knowledge to work effectively. Because the team works in all departments, members may adjust policies concerning production, marketing, sales and customer service. While not every member needs to be an expert in every area to contribute, having a general knowledge of all departments and expertise in some can make the RevOps team more capable as they administrate changes.
Change management
Members of a RevOps team with a history in change management can more effectively advance development in departments. Change management involves identifying improvement possibilities within a system and creating an action plan to achieve that change. Change management employees who also have working operations knowledge of a department can become specialists in your revenue operations team, taking initiative within a department during each audit or meeting.
Technical skills
Having employees with technical skills on your team can help address specific efficiency goals in certain departments. For example, if you have a production department, someone with technical knowledge of each machine and how the production lines work may suggest process efficiencies that can save on materials costs. Employees who have technical knowledge may also be helpful during audits, evaluating the efficiency of work instructions and policies.
Analytical skills
All employees within a RevOps team need analytical skills to evaluate departments efficiently. Members use their analytical skills to determine if a department requires change while also evaluating the costs of that change. Using their industry knowledge of the department, they can calculate the cost of employees, training and machines to determine the most viable action plan.