The Revenue Engine

#OpsTherapy 4: What is Revenue Operations and Why All the Buzz Now?

July 8, 2021
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The Revenue Engine

Each week, Revenue Operations expert Rosalyn Santa Elena shines the spotlight on founders, CEOs, and Revenue Leaders from hyper-growth companies and dives deep into the strategies they implement to drive growth and share their learnings. Rosalyn brings you inspirational stories from revenue generators, innovators and disruptors, as well as Revenue Leaders in sales, marketing, and operations.

What is Revenue Operations? Asking this question you hear many different responses.

Roslyn describes Revenue Operations as the engine that drives, enables and optimizes the revenue process. It's the infrastructure, the people, processes, technology, enablement, and data that support  revenue generating teams such as marketing sales, customer success support.

During this episode Rosalyn talks about the impact Revenue Operations has across the entire customer journey and why RevOps is more than just a tactical part of driving the Revenue Engine.

Connect with Rosalyn https://www.linkedin.com/in/rosalyn-santa-elena/

Thanks to Sales IQ Global for Powering the Revenue Engine https://salesiqglobal.com/

Rosalyn Santa Elena
As an advisor for several high-growth start ups on all things GTM and Operations, an active leader of Revenue Operations in multiple communities and platforms, and the host of The Revenue Engine Podcast, I'm on a mission to elevate the Ops function & Ops professionals.

Welcome to the revenue engine podcast. I'm your host, Rosalyn Santa Elena. And I am thrilled to bring you the most inspirational stories from revenue, generators, innovators, and disruptors revenue leaders in sales, in marketing. And of course in operations. Together, we will unpack everything that optimizes and powers the revenue engine. Are you ready? Let's get to it.

I'm often asked what is revenue operations?And I hear a number of definitions depending on who you ask. To me, revenue operations is the engine that drives, enables and optimizes your revenue process. It's the infrastructure, the people, processes, technology, enablement, and data that support your revenue, generating teams such as marketing sales, customer success support.

Account management and renewals. It's all about breaking down silos and aligning your end to end revenue process to the customer journey, aligning objectives, strategy metrics, data systems, and processes. Revenue operations is about driving alignment, transparency, and account ability across your go to market model across all of the revenue generating team.

Across the entire customer journey and from top of funnel to customer, to renewal and to expand. So why is there so much buzz around it? Now? I believe there are a number of factors that have caused the rise of revenue operations. One with the increase of SAS and a recurring revenue model, there is an increase in focus on customer retention and customer success.

No longer is revenue only focused on net new acquisitions. But instead also focused on driving customer value retention of customers and expansion and upsell into your existing customer base. Rev ops helps create the infrastructure to support this recurring model in a very seamless way to the selling motion has become much more complex.

The need to align your end to end revenue process to the customer journey from top of funnel as a prospect to the sale asa customer to renewals and expansion is increasingly critical and rev ops helps drive this alignment to the customer. Three, the technology for revenue teams has exploded. There is a system or a tool for every part of the revenue process, multiple systems and tools.

So the need to implement configure, administer, maintain, and keep these systems in sync is a significant part of the business. And rev ops typically is responsible for managing all of this technology. Recent number four, data, the need to have real time accurate comprehensive data has also exploded.

Keeping the data in sync across the end-to-end customer journey is a mammoth task, but businesses must have quality data, the right data at the right time to conduct a proper analysis and provide the right level of insights to drive revenue predictability. And make the right decisions for the business.

So rev ops really helps enable the right data, the right insights and the right analytics to drive those data-driven decisions that help provide better revenue outcome. Five prospects, buyers and customers are more well-informed and have higher expectations with technology and access to information prospects, know what they want before the first contact.

Before the first time they visit your website before they schedule a demo before the first one. And buyers expect a frictionless purchasing experience, similar to how we as consumers expect more in business buyers want you to be easy to do business with, and they don't want to experience poor handoffs or experience any of your internal process challenges.

When customers, what customers expect a seamless of value-driven partnership. They don't want just a service vendor.They expect a value and they expect businesses to help them be successful. And that's really partnering through value, helping them reach their ROI and helping them by providing thought leadership in the space.

So rev ops really helps drive this alignment internally through policies, processes, and systems, but they also help. Drive the alignment externally across the teams in areas such as messaging rules of engagement, roles, and responsibilities, and all of those handoffs across the team. And reason number six with a year, like last year of2020 organizations are realizing that the ones with a strong revenue operations foundation are the ones who were able to quickly assess the situation, make decisions on when and how to pivot and implement the changes through the organization and through processes and systems.

The need to align your operations process to this end to end customer journey has continued to become more and more critical. And revenue operations is all about driving that alignment, driving alignment in those key objectives and goals, driving alignment in your strategy, driving alignment in the metrics to measure that achievement and int he definitions, making sure that everybody is speaking the same language and understands what each of the terms mean.

And drive the alignment in data, right?Having that single source of truth, where everyone is looking at the data and accessing the data in the same way at the right time. And also driving alignment with processes right across the team, having those seamless handoffs, having those integrated processes.

And of course, then all of the systems and technology, having integration and proper flow through all of the tools that support the revenue. So in summary, I mean, I suspect we will continue to seethe rise and growth of revenue operations as really that strategic differentiator in revenue growth and driving better revenue outcomes.

 

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