One of the most vital goals of any business is to generate as much earnings as possible. But this is often easier said than done, as you might struggle to achieve that goal. This is where revOps comes into play. Let’s explore what it is and how outsourcing can help you get more out of the effort.
What Is RevOps Anyway?
Short for revenue operations, revOps is the combination of the Sales, Marketing, and Service departments to boost revenue. That might seem an odd definition since all three departments are already working for that purpose. However, revOps takes this one step further.
Image from Syncari.
The key word here is integration. In revOps, all the departments work closely together to achieve the goal. And their process design reflects that with all the processes developed closely with each other. This results in greater alignment between their efforts and accountability for them.
The Benefits RevOps Offers
As we mentioned, your sales, marketing, and service departments are likely working on the effort already. So you might wonder whether investing in revOps is going to be a good idea. Here are several benefits that will surely convince you.
A Better Vision Of Your Revenue Generation Efforts
With all three departments working more closely, they can develop a more cohesive vision of how your revenue generation strategy will look like. This clearer vision helps you focus all these departments on more strategic initiatives and guide them towards these. It also ensures that everyone knows their roles in achieving these goals.
Better Measurement Of Revenue
Image from CX University.
Revenue measurement isn’t just about checking how much cash your company earned. Also consider how effective you are in generating that. RevOps makes all that measurement more precise, giving you a better picture of how revenue is created. From there, you can better plot out more effective revenue generation strategies.
Operational Simplification
A common reason why your team struggles with income generation is because the process is too complex. Often, the three different departments go their separate ways on how to attract and engage customers. RevOps makes things a lot easier by simplifying everything. With proper alignment, the three departments would be on the same page and can work within the same processes.
Creating Your RevOps Effort
To better implement revOps into your overall revenue generation strategy, you have to understand how it works. Here, you should be familiar with its three essential pillars.
Process
As we already mentioned, one of the main thrusts of revOps is ensuring that your sales, marketing, and service departments can all work efficiently. Hence, developing the right processes is the first thing to consider.
Image from WallStreetMojo.
The key here is creating processes that nurture a sense of collaboration between the different departments. Additionally, that process should be end-to-end and encompass every aspect of the customer journey. With that, you need to understand how each team works. Build a single workflow that all the teams will follow using the information.
Platform
Of course, the process alone is not enough. To ensure that you can effectively implement it, you need the right platform to support it. You want the different tools, data sources, and systems to be seamlessly interconnected. That ensures your company can have better control of the process.
Image from Revenue Enablement Institute.
Another essential element of your revOps platform is efficient information management. Each team should be able to get the information they need quickly. On the other hand, they also need to send data effectively to other departments and help process this. For that, your platform must be able to scrutinize all the data that comes through it and ensure everything is correct.
People
The last component of an effective revOps effort is the people running it. Depending on your business setup, you might need to create a special revOps team to handle everything.
When building this team, you should staff it with people who fully understand the work. Here, it would be a good idea to have representatives from each department. They can provide a more in-depth picture of how the specific revenue generation processes work. On the other hand, you would also want to have external experts to help out.
How Virtua Solutions Outsourcing Can Help Your RevOps
To more effectively implement your revOps strategy, you need to provide the right support for it. However, your different teams might be limited in what they can contribute to it. That is where Virtua Solutions Outsourcing comes in.
We are ready to help you execute your revOps strategy by providing support in the various areas you need. Our team will assist you with fulfilling the three pillars stated above.
Providing Technical Support
As it is, running a revOps strategy will require a lot of technical support. Virtua Solutions can cover everything from the initial prep work to implementation. For the former, we will provide a team to research for potential revenue paths. From there, we will work closely with your team to build the platforms and tools you will need.
During the implementation phase, our technical team will help ensure that your platform works accordingly. We will coordinate closely with your revOps team to deal with issues that might show up. Additionally, we can help you develop new processes to improve your revOps strategy.
Delivering People Support
Virtua Solutions can also help you in the front end. Since the success of your revOps efforts also depends on effective customer engagement, we provide you with a comprehensive customer service solution.
Our sales and marketing agents will augment your team so you can reach out to more people. Meanwhile, our customer service and success will lend a hand in ensuring successful transactions. All of these will ensure that your efforts generate more earnings.
Get Off To A Good Start With RervOps
2024 is set to bring in a lot of opportunities for businesses. And you should be ready to reap more of those with the right revOps strategy. Contact us today and let’s get started in bringing in more revenue for you.