What is revenue operations?
Revenue Operations(RevOps) is built on the idea of aligning various revenue-centric teams into one unified organization to accelerate growth and take the guesswork out of your GTM strategy. The key to implementing a successful Revenue Operations Framework is to focus on the following:
- People – Make sure your sales, and customer success teams are aligned on targets and tactics.
- Data – Surface as much context as possible across the entire buyer’s journey.
- Processes – Automate handoffs and smooth transitions between teams to ensure a positive customer experience.
What is driving the rise of revenue operations?
Revenue Operations has been steadily increasing in adoption over the last few years and this is mainly due to increased focus on the customer experience. More and more companies are taking a “customer-first approach”, which prioritizes the need for aligned revenue teams over individual goals and siloed metrics.
Over the years, the buyer’s journey has evolved as volumes of information are available to your customers. The traditional role of Marketing educating its prospects is now complicated with customers becoming self-reliant and self-educated on your products well before engaging with you. This evolution of data flow has blurred the line between external-facing teams, forcing a unified approach. Nowadays, seamless handoffs are essential between sales and customer success to ensure your customers are satisfied and ready to renew.
Real examples of accelerated growth from revenue operations
Utilizing LeanData’s powerful Revenue Operations platform, many companies have been able to optimize their go-to-market (GTM) strategies, and specifically solve the challenges that many businesses face when attempting to align their people, data, and processes. See below for some customer examples:
Toast
A small cloud-based restaurant management system founded in someone’s basement has made the RevOps framework a reality and now successfully manages over 500 sales reps. Toast faced many of the common challenges when trying to accelerate growth mainly around accurately matching leads to accounts, and managing complex routing rules to handle multiple GTM motions simultaneously. Ultimately, they implemented LeanData’s Revenue Operations platform and were able to reduce 90% of duplicate records in their SFDC instance, and double conversion rates in many territories. Read the full case study here.
Tune
A company that specializes in measurement tools for digital marketers, Tune realized the native capabilities of their CRM couldn’t get the job done. In order to revamp their end-to-end revenue process, Tune implemented LeanData’s Revenue Operations platform for lead-to-account matching, routing, and marketing attribution. By doing this, they were able to streamline their lead management efforts, accelerate sales cycles, and focus on strategic goals rather than filtering through irrelevant noise. Additionally, Tune was able to achieve a major competitive advantage by gaining visibility into their marketing campaign success and gained visibility into where to allocate marketing budget most effectively.
Kaltura
With the mission of powering every video experience, Kaltura soon realized the need for an optimal ABM approach once their global sales team began managing multiple accounts within multiple verticals. Kaltura leveraged LeanData for accurate lead-to-account matching, territory management routing and intelligent lead segmentation. Through the use of LeanData, Kaltura increased speed to lead, completely eliminated the pain of lost leads, and generated accurate/intelligent marketing analytics to improve their lead management process.
Planful / Host Analytics
Just like most businesses looking to adopt an account-based approach, Planful struggled with accurate lead-to-account matching. Utilizing LeanData’s powerful Lead-to-Account Matching, Planful was able to realize a noticeable uptick in campaign effectiveness, due to improved ability to target marketing campaigns to the right accounts. Read the full case study here.
The future of revenue operations
The traditional methodology of segregated sales, marketing, and customer success teams poses immense challenges and yet many companies still decide to stick with this siloed organizational structure. Revenue Operations is a proven strategy for growth with more and more businesses realizing it is a necessary step in becoming a larger, faster, and more effective enterprise. LeanData provides the leading Revenue Operations platform and LeanData’s Lead-to-Account Matching, Routing, Engagement, and Marketing Attribution solutions orchestrate and automate the go-to-market process to help revenue teams close more deals and drive more revenue, faster.
Adam Regent
Adam is a Solutions Consultant at LeanData, who previously worked in technology consulting at Deloitte. Adam has experience in various cross-functional roles at startups, and he studied Strategy & Marketing at WashU in St. Louis.