The business impacts of Revenue Operations

What makes a business successful is no longer simply examining the net difference between cost of goods sold (COGS) and the revenue collects for a final sale of product(s) or service(s)--now even the revenue of a business and a team’s ability to understand the intricate relationship between proper marketing and client satisfaction is becoming a competitive landscape. Those who better understand the interconnectedness of all parts are rewarded with greater growth, and, in turn, a more successful company. 

Enter Revenue Operations (RevOps): examining the careful alignment of sales, marketing, and customer success that functions to drive revenue growth. 

As a critical business function, RevOps treats revenue more than mere “money in,” instead looking through the lens of a traditional business process and examining how the costs associated with sales, marketing, and customer success have a significant effect on the bottom line of a company. 

Revenue Operations and Business Efficiency

Improved efficiency is one of the most significant impacts of revenue operations. By aligning departments such as sales, marketing, and customer success beneath the same umbrella, companies can now streamline their operational efforts by reducing the likelihood of duplicated work that is so often the result of departmental miscommunications.  

As with any streamlining of process, companies that follow good practices in relation to RevOps see decreased costs and increased productivity, directly adding to the bottom line of a company. Also, by focusing on customer success, we split our thinking by tending to the present material needs of our customers while focusing on ways to identify and solve future inefficiencies based on past projects' success.  

Whether you’re looking to increase the efficiencies of several departments at once or seeking to create more opportunities for upselling and booking future work with current customers or looking to grow your business with a more effective go-to-market strategy, adopting the practice of RevOps will help reduce your costs and increase your bottom line. 

RevOps and Customer Loyalty

RevOps can also have a positive impact on customer retention by encouraging development of customer engagement strategies that drive numerous touch points between you and your customer(s) to keep your business relevant to their success. 

Data Driven Decision Making

One of the most effective ways to leverage RevOps and gain a complete view of a customer’s journey is through analyzing customer data. Data-driven decisions remove the guesswork from sales and marketing, leading to improved targeted ads and brand messaging, which in turn can lead to increased revenue and company growth. 

Through a clear understanding of customer data, companies can track the effectiveness of their marketing campaigns to maximize every dollar spent, which decreases the cost of reaching current and future clients and leads to an improvement in ROI.  

Finally, RevOps can help a company gain a true and complete picture of their current success, which allows for accurate forecasting and the ability to make more informed decisions related to reinvesting in future company growth.  

Are you looking to push the envelope and think outside the cashflow box? Tired of grinding sales and marketing without a clear grasp on what is working and what isn’t? iuvo can help! Contact us today to chat about how we can help get your company up to speed with proven RevOps methods that we use day in and day out.