Customer Data & Analytics Blog

How to rev up your revenue engine

Ariella Brown | 3 minute read

Zylotech_How to rev up your revenue engine _070819_header (1)Revenue Ops opens the way for marketing and sales operations to transform their funnel and scale their customer interactions. As a result of getting these different departments aligned to operate as one machine, businesses are able to anticipate and effectively meet their customers’ needs and expectations, using agility to successfully scale up.  

Revenue Ops reimagines the marketing, sales, and customer relationship processes, so that both sales and marketing are continuously involved in the buyer journey to make it possible to achieve rapid growth. There are three revenue-focused responsibilities that are essential to strategy for achieving that end: optimizing key marketing and sales processes, implementing the right technology, and getting the data that will deliver actionable insight.

Optimizing key marketing and sales processes

By achieving alignment between marketing and sales processes, the business is able to get them to integrate into an end-to-end approach towards optimizing business strategy. This enables greater agility, as collaboration removes internal roadblocks, enabling revenue operations to move faster.

Strategies include integrating account based marketing (ABM) that align sales and marketing with traditional lead-based marketing to better understand and respond to customer needs throughout the purchase journey. Jason Reichl, CEO of Go Nimbly, explained that “ABM relies on a unified operational back end,” which means that in the absence of alignment, “there’s gonna be friction.”Zylotech_How to rev up your revenue engine _070819_sub (1)

“The advent of ABM (which involves marketing and sales working closely together) and the increasing importance of net retention (which requires close coordination between sales, marketing and customer success) has made a true revenue ops function critical to success,” observed Andrew Mowat Vice President, Growth Operations at Culture Amp in The State of Revenue Ops 2018.

Implementing the right technology: CDP and AI

One of the essential tools for achieving the type of data integration necessary for revenue ops is an AI-enabled Customer Data Platform or CDP. As David M. Raab, Principal of Raab Associates Inc and Founder of the Customer Data Platform Institute explained in the Zylotech Revenue Ops Whitepaper:

“Revenue Ops requires coordinating activities across many departments that use many different systems. The essential first steps in doing this are to combine data from those systems into a complete view of each customer and to make that view available to every system that needs it. This is exactly what Customer Data Platforms offer. CDPs are a critical foundational technology for any Revenue Operations strategy.”

While the CDP will link up all the relevant data that centers around your customer, by itself, it won’t deliver the agility you need for rapid growth. You also need the power of AI for automation to enable your system to take in and act on all the data flowing in. On that basis, the business can reap the benefits available from tapping into a hybrid funnel to accelerate growth.

Delivering the right data and translating them into actionable insights

It all starts with data. Ross Nibur, director of revenue operations and strategy at Toast explained the problem many businesses have with the data divided by department in an Insight Squared blog:

“What I’ve seen happen is a siloing in data structure and processes for marketing, customer, services, and sales teams. The problem is that you need data that will tell you the entire story in order to optimize your business.”

Once you’ve broken through the silos that separate the sales data from the marketing data, combine all the data that centers around the customer into the CDP and apply AI to derive insights that can be applied in real time, you are set to access the necessary data to deliver the right marketing message to the right person at the right time.

When it all comes together

By achieving alignment across departmental teams, the business is able to get them integrated into an end-to-end approach towards optimizing business strategy. That enables greater agility, as collaboration removes internal roadblocks, enabling revenue operations to move faster. The result of that is better responsiveness to customer needs and the basis of a predictable model to use in planning high-growth efforts to scale up.

Ariella Brown is a Zylotech contributing writer.

If you liked this post, check out our recent blog post: How Revenue ops is a mindset of the next phase of B2B growth.

 

 

Topics: Revenue Operations