Webinar Recap: the Evolving Role of RevOps
Teams working in silos…
A lack of communication….
If this resonates with you, chances are you need to align your business with RevOps.
No need to pull your hair out!
Cognism is here to help you better understand how revenue operations can eliminate silos and help you gain a holistic view of your revenue stream!
We’ve assembled a line-up of B2B sales experts from RingLead, FunnelFox and Cognism to share their proven methodologies and offer some helpful advice:
- David Paulsen - VP of Business Development, RingLead
- Vincent Jong - Founder & CEO, FunnelFox
- Antoine Cornet - Revenue Operations Manager, Cognism
- Saif Khan - Associate Sales Director, Cognism
In this article, we’re going to look at the five key takeaways discussed by our panellists, but first:
What is RevOps?
It’s a function of B2B organisations whereby sales, marketing, customer success and system operations all merge together. The result is an end-to-end solution called Revenue Operations.
Why is it important?
It helps businesses maximise their organisation’s revenue potential and centralises all your ops, ensuring faster growth and more profit.
For a more detailed breakdown of what RevOps is and how it works.
Now let’s dive into the discussion.
1 - Maximising pipeline growth with data insights
Many companies face the issue of not being fully aware of where the problems are in their pipelines. RevOps helps to solve these issues by taking a deeper look at the data.
By working this way, you can detect and solve problems before they start losing you money and stunting your ability to scale.
“RevOps is the linchpin between sales ops, customer success and marketing ops. Their goal is to maximise an organisation’s revenue potential - we know outbound sales will want to focus on opportunities that have high profitability of conversion. RevOps then helps them improve the quality of opportunities that they’re working on by building a bridge between the teams and maximising revenue opportunities for your company.”
If you’re looking to scale your business and increase profits, our panellists agreed that it would be best to hire a RevOps lead to manage everything, before hiring specialised teams. With RevOps, it’s important to get the basics right first, before scaling up.
2 - The path to clean, consistent and complete data
The first step to clean B2B data is to ensure that everyone in your company is logging data in the same way. This will drastically help when you want to do an analysis and avoid blind spots that could cause issues in the future.
Secondly, monitor where your data is coming from. If you’re using a company like Cognism then you’re getting safe, GDPR compliant data that’s immediately usable. This will save you a lot of time. If your data sources aren’t as reliable, you’ll spend too many hours sifting through your database trying to find accurate contacts with usable information.
It’s critical that the right data is going to the right reps. If that isn’t happening, then your warm leads will very quickly go cold and you won't be able to make a hot call. You’ll need to establish focus points when segmenting your lists; this will also define how your processes flow too.
“Data driven marketing can only be successful if you’re confident your SDRs are getting the right resources. The better your data, the better the revenue you’ll bring in for your company. You don’t want your reps chasing down data that’s inaccurate. It’s a huge tax on everyone’s time - time you’re paying for.”
3 - Best practice for ensuring your data is clean and aligned across departments
There’s no right way of ensuring your data is clean and aligned across departments, but our panel put forward some great tips:
- Ensure your data source is trustworthy for better accuracy
- Establish good communication across departments
- Implement a data orchestration platform on the front-end to ensure duplicates don’t enter your database
- Create streamlined processes across the company
- Automation software is crucial to avoiding human error and freeing up time for your teams, especially as you scale and grow
- Segment your lists geographically and by company size so they can be rerouted towards the right people
4 - The link between intent data and RevOps
Intent data can greatly increase your revenue, which makes it an important tool for your teams to utilise across operations.
“The great thing about intent data is that you’re able to get notified when an account needs what you’re selling. They’ve likely realised they have a problem and they’re showing intent to find a solution to help, only they haven’t reached out to anyone yet. This is where you come in as the hero!”
“With a great RevOps strategy, you’ll be able to prioritise them for prospecting with more specific messaging geared towards what they were searching for. Through this, your conversion rates will likely increase, because you’re approaching them when they need you the most.”
5 - Business intelligence to better target your leads when they’re ready to buy
In the current crisis, it's more important than ever to utilise business intelligence within your sales strategy.
Starting with sales triggers:
Triggers and intent data work together with RevOps to better target your audience, meaning your reps will be approaching leads at the best time with the right product.
But, you can't get to that stage until you've calculated your Total Addressable Market (follow the link for our TAM calculator).
“Something that can help a lot with leveraging business intelligence to target your leads when they’re ready to buy, assuming you have a number of closed deals already, is to take your closed deals and go deeper into them to see where they were at the point in time when they engaged and where they were when they closed. This will give you a great idea on what metrics to track for your future prospects.”
Keep in mind that while tracking metrics over a long period is essential - having lots of sales data can only get you so far. You need to use that data in a strategic way that works with your target audience.
RevOps - final thoughts
“RevOps is an incredibly important component of a highly functioning organisation. It's instrumental to ensure that all your teams are aligned with no friction and that any operational issues that prop up daily get resolved promptly.” - David
We hope you enjoyed this recap of our RevOps webinar. If you’d like to watch the recording or view the accompanying slides, simply click the button below 👇
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