In this week's pod, I invited Martin Ray to talk more about revenue operations, or RevOps. You've probably seen this term thrown about on lots of marketing sites, but what does it mean for your company? Hopefully, this episode will give you some answers.
RevOps refers to the ambition that many traditional B2B companies have had for a long time - to break down the silos between marketing, sales and service and create a smooth, interlinked, customer-focused operations centre.
However, this is easier said than done! The effective use of a sound CRM system can provide a communication channel between departments. Still, the problem remains, even for companies who have come further on their digital journey. Marketing typically focuses on online KPIs like traffic and conversion rates, sales focus on booked meetings and deals, and service fights to solve customers' problems as quickly as possible.
The idea of RevOps is to move away from this approach, where each customer-facing department focuses on its internal priorities, towards a method where the entire company is aimed towards optimising for revenue and increasing customer lifetime value.
Martin has much knowledge about this particular topic, and he's helped plenty of companies to improve their practices over the years - so he made an excellent guest for this week's episode. He's also recently written an article about RevOps, which is well worth a read if you want to learn more.
In our discussion, Martin gives a broader explanation of what RevOps is, discusses the actual concrete benefits that companies can experience after starting to work in this way and provide some tips on how to implement it practically. The key to success? Assign a Chief Revenue Officer (CRO) to oversee the transition and impartially coordinate the different departments to move towards a revenue-focused business model.
Enjoy the episode, and don't forget to subscribe - you can find links to The Onlinification Pod on the most common podcast platforms below, as well as to our RSS feed that lets you use the podcast app of your choice.