Revenue operations (or RevOps) is a function in B2B organisations that is gaining traction across the industry. It takes responsibility for the software, systems, processes and data for all the revenue-generating teams inside a company.
RevOps works by centralising four previously separate departments: sales operations, marketing operations, customer success operations and systems.
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Revenue operations 101: infographic | Why is revenue operations vital to business success? | Revenue operations vs sales operations: what’s the difference? | What benefits does revenue operations deliver to a business? | What does a revenue operations team look like? | What skills are required to succeed in revenue operations? | What are the core revenue operations responsibilities? | What are the key revenue operations metrics? | What are the essential revenue operations tools? | Build your revenue strategy with Cognism
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The need for RevOps comes from the fact that in many B2B organisations, sales, marketing and customer success are more aligned than ever. The three teams work together to optimise the customer journey, rather than having their own delineated areas of responsibility.
They also may use the same business data and software, so why keep them separate? The way B2B companies generate revenue has changed. There is more focus than ever on collaboration between marketing, sales and customer success.
For most B2B/SaaS firms, the revenue generation workflow looks like this:
Sales depends on marketing to generate the right leads at the right time. The sales team is concerned with building long-term relationships with a high lifetime value, which impacts the customer success team.
With this alignment comes the sharing of tools and even people, like SDRs, who bridge the gap between marketing and sales at the top of the funnel.
Having one function running the operations for all revenue-generating teams makes sense as it means communication will be easier, the implementation of new tools will be smoother and outcomes will be better.
It’s no surprise that publicly traded companies with a RevOps function saw a 71% better stock performance than companies that do not.
The primary difference between RevOps and sales operations is that while sales operations support the B2B sales process, RevOps are responsible for operations across all revenue-generating teams.
RevOps will do everything that sales operations does, but they will do it for marketing, customer success and systems too, while keeping all these teams aligned.
If sales operations is about reducing friction for the sales team so they can spend more time selling, RevOps is about making the entire revenue-generating side of the business more effective at what they do.
A well-run, high-performance RevOps team helps every revenue-generating area of the organisation run more smoothly.
A RevOps team will know what is going on at all stages of the sales funnel, which means if anything goes wrong, they have the knowledge and skills to fix it quickly. This means that salespeople can spend more time doing what they do best – engaging with prospects and closing new business.
Marketing teams tend to work with more tech and more data than other revenue-generating departments. The primary focus for RevOps in B2B marketing is to streamline the marketing tech stack, empowering marketers to access to more data from the other teams (and vice versa).
This leads to better decision-making and improved productivity.
When previously siloed departments are aligned and working together, they are more attentive to their customers' needs. Customers notice better standards of communication and service. This makes life much easier for customer success teams, who will notice the difference in their upselling and renewal rates.
The size and structure of your revenue operations team will depend on the size and needs of your business. However, companies that are making a success of RevOps are structured like this.
There’s a Head of RevOps, reporting to the CRO.
Reporting to the Head of RevOps, there will be a manager for each area of operations:
Under these managers, there may be analysts for each area. Their role is to identify and solve issues relating to business performance. To do so, they must review and analyse vast amounts of data, in collaboration with their respective departments.
To be a hit in the world of revenue operations, you need a wide range of skills:
In general, a RevOps team will focus on delivering the following tasks:
Revenue operations is a numbers game. Here are some of the metrics you need to know:
The number one tool in RevOps is your company CRM. You need to make sure that your CRM provides all the capabilities you need to make your revenue operations strategy a success, including:
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