Recently, you may have come across the term Revenue Operations and may have done some research about what it is and how it can be helpful for your business. But where can you begin building a tangible strategy to implement this methodology, and how can a RevOps consultant be beneficial during this process?
Using Revenue Operations to Build a Business Strategy
One of the most critical drivers of a RevOps strategy is data analytics. There must be a means for why RevOps procedures are chosen. So, first, ask yourself, do I track my company’s data? If your answer to this question is yes, how do you track this data? More importantly, how does each silo in your company use this data?
If you have yet to track company data, the best place to start is by tracking your lead generation. This can be done by using KPIs (key performance indicators).
For example, if your marketing team is generating a certain amount of leads, how many of them are being converted to customers? If this number is performing under baseline, is it due to poor lead targeting or to rusty sales practices?
One of the most important tactics in RevOps is ensuring that your marketing team is generating leads with your sales team in mind. It’s easy to allocate money towards marketing for lead generation, but actually converting those leads into customers is another story.
It’s wiser to allocate funds towards data collection and interpretation that allows optimal communication between the silos in your organization. The best way to do this is through a revops agency. RevOps agencies are experts at using data to drive lead generation that closes sales and ensures customer satisfaction and loyalty.
Using HubSpot for Revenue Operations
Even if you track and use your company’s data effectively, your revenue operations strategy still needs departmental alignment and analytical insights for optimal execution. The best way to make this possible is through a software called HubSpot. HubSpot is an ever-growing business software suite for each silo of your business, including marketing, sales, and service.
Firstly, HubSpot provides website development services, which are the foundation for your revenue operations. A strong website is often the basis for lead generation in a business.
HubSpot also provides SEO capabilities, allowing marketing teams to use the same platform to customize and optimize website lead generation using the same platform.
Finally, HubSpot has an integrated CRM system that your sales and service teams can use to track these leads, close sales, and service customers, all from the same platform.
Having these functions located in one software is crucial, as it makes it easy for marketers to see where closed sales are coming from, sales associates to see how leads have interacted with your brand, and service reps to understand how to retain these customers.
RevOps Consulting as Continuous Improvement
Although having integrated software is essential for revenue operations, each of your silo’s tools needs a strategy that maximizes their results and compliments the others.
For example, great SEO techniques are useless when they land traffic to a weak website. A great website is useless if it can’t convert visitors to leads. Lead generation is useless when these leads aren’t becoming customers converted by the sales teams. And finally, converted customers are only useful if they can be retained and satisfied.
Nobody knows your business like you do, but revenue operations consultants work alongside your business, breaking down each piece of your RevOps strategy, ensuring its longevity as the strategy is executed.
RevOps agencies work to perfect website development, SEO, lead generation, sales, service, and finance, integrating them along the way. However, It is important to work alongside a RevOps consultant that has industry experience, so that the foundation of your business is first, allowing the rest of the strategy to build off of it.
Open Path: A Revenue Operations Consulting Agency
At Open Path, we’ve dealt with each process and silo in developing a RevOps strategy. We are software experts that use lead-generation tactics to pull and analyze the data needed to drive a strong strategy. Open Path is a service company with expertise across many industries. Start your growth path today!