Revenue is absolutely critical for business success.
Businesses of today are looking at it as more than just an end; they are considering the means to the ends as well. With this approach, you’re able to save time and increase your earnings by considering the processes involved in generating revenue. Sales are a key element of this. That said, here are the key differences between the two and why it matters to your business.
What Are Revenue Operations?
Revenue Operations (RevOps) is an umbrella term. It encompasses the following 3 elements, each of which play a role in driving revenue.
- Sales Operations
- Customer Success Operations
- Marketing Operations
With the above in mind, we can deduce the following: RevOps seeks to increase returns by viewing revenue holistically. It is affected by marketing, sales, and customer service and the ways in which each of these play a role in the customer journey. This is achieved with automated tools and systems to create clear pipelines, cross-departmental work flows, and better internal communication across the business.
To implement RevOps, businesses create teams that work on streamlining the processes for all involved, which enables each sales, marketing, and customer service teams to focus on their roles and perform better. The size and role of the team will depend on the size of your business and the software you’re using. It requires robust technology that is simple enough for all teams to use without tech-heavy barriers of limitation for those involved.
RevOps allows you to create better forecasting for your business. This gives your team the benefit of reacting to market trends as you’ll be more agile. It also helps you grow within scale, with the overarching goal being to improve revenue for the business.
Both RevOps and SalesOps rely on the use of technology. Having a CRM system like HubSpot gives you access to an integrated and centralised platform that benefits the RevOps teams in its entirety. RevOps typically includes:
- Technology and platform audit
- Using automation to improve processes and reduce mundane tasks
- Working on generating new sales
- Identifying sales opportunities for existing customers
- Analysing various sets of data holistically
- Improving the use of technology and integrations among the relevant teams
- Working on customer-facing tech stacks
What Are Sales Ops?
Sales Ops refers to the sales strategies. It includes all of the practical processes that the sales team uses. These systems are important as they are responsible for conversions and closing deals. Businesses them work on improving these for optimal sales planning, enablement, and selling.
SalesOps seeks to improve performance by having better strategies in place and improving the productivity levels. This includes the following:
- Sales funnels
- Customer lifecycle stages
- Sales communications
- Automated reporting
- Sales tools
- Sales collateral
- Sales contracts and modelling
- Sales projections
- Sales optimization
- Onboarding and training for salespeople
- Lead management
- Incentive campaigns to drive sales
- Sales policies
- Setting KPIs for sales
In simple terms, it covers all aspects of the buyer’s journey with your business. It requires strategizing and the enablement of closing deals.
What Makes SalesOps Different from Marketing and Customer Service Ops?
Let’s take a brief look at the marketing and customer service operations to understand the other elements that fall under RevOps (and alongside SalesOps):
- Marketing Ops includes all of a business’s marketing efforts and activities. This includes strategies and campaigns, personas and market research, and content and lead management. Marketing Ops includes a critical focus on data and performance measurement.
- Customer Service Ops includes the activities that deal directly with your customers. It is often referred to as CS Ops and includes the likes of customer support and communication, brand advocacy, and handling the services desk. It is an important element that is often overlooked but can play a vital role in maintaining positive customer perceptions and relationships.
The Difference Between RevOps and SalesOps
RevOps is all about an aligned business strategy that is geared towards increasing sales. It requires technology for transparency between departments. It incorporates sales, marketing, and service as three distinct but equally important parts that culminate to achieve sales success.
SalesOps is similar as these teams work towards achieving the same goal. However, its role is different as it is focused on the sales department within the business and the specific activities that drive sales.
RevOps has become increasingly important for businesses as there are numerous benefits to reducing the friction experienced related to sales. You should consider implementing it if you’d like to increase sales, grow at scale, align your business’s departments, and, of course, reduce sales friction experienced by your business.
Speak with us at Nexa about how to improve your RevOps and SalesOps. Our experts will show you how these teams can effectively work in tandem to reach your business’s goals and increase its revenue. It’s all in the way technology can vastly improve the processes, data, and service involved in sales.