May 31, 2023
How to Drive Business Growth by Streamlining Revenue Operations
The best businesses aim to grow steadily and sustainably, perfecting their internal operations on the way and ensuring their profit margins only grow.
Streamlining revenue operations lets you achieve that goal.
That is, if you streamline your revenue operations correctly, you can secure optimal, continuous business growth in the future. But how exactly does one streamline those operations ‘correctly’?
We’ll break down all the steps involved in the process, giving you both a guide and a series of insights to help you achieve the business growth you seek.
Review and analyze your current revenue operations
First, you have to take stock of your present situation. Improving your revenue operations (RevOps) is challenging if you’re not sure how exactly they look.
The most critical component of your RevOps approach is your marketing team. How involved are they with other groups? Do they communicate much internally and externally?
You’ll also want to ask your sales team these questions since they will be just as involved as the marketing professionals.
Analyzing your current RevOps also involves creating lists of what works well and what doesn’t. Maybe your teams communicate regularly but don’t seem to pursue the same goals, for example. Knowing these kinds of things will help you create targeted streamlining plans.
Align RevOps goals with business targets
It’s tough to align your sales and marketing goals without ensuring those goals match your overall targets. That’s why one of the first things you’ll want to do is ensure your RevOps goals and business targets are in harmony.
Your business might aim to sell more of a particular product, for example, or to put a specific number of new products out in a year. These goals need to be reflected in every aspect of the business.
One way to make sure your goals are aligned across the board is to integrate your entire sales tech stack into a single tool. This makes it much easier for sales professionals to communicate with each other and members of other teams so they stay on track toward completing goals.
Utilize RevOps automation
There are a few ways to boost your RevOps efficiency that are as impactful as automation. To better show you the impact of automation, let’s look at an example:
You’re a small business looking to improve how your finance tasks are handled. This is a good idea for anyone streamlining their RevOps, as revenue generation relies on well-executed financial workflows.
Choose a tool that lets you track your finances manually. Despite helping centralize your finance processes, this doesn’t improve efficiency since human effort is required to make tasks happen and verify that financial operations have been adequately completed.
Instead, you can choose something like an accounts payable system for small business that lets you manage all your finance tasks from a single location, all while harnessing the power of AI to improve overall efficiency.
Train employees on new processes and tools
The best tools in the world are functionally useless to people without training on how to use them. RevOps tools (and processes) are no exception to this rule.
Investing time and effort into employee training ensures that everyone in your company knows what they’re doing at all times. It cuts down on the time employees would otherwise spend looking up tutorials for the processes they’ve been assigned to or guides for the tools they’ve been instructed to use.
It also helps your employees feel like they’re organically included in the improvements you’re making to your RevOps, as opposed to having those changes happen to them.
Plus, once your employees know exactly how to handle the tools you give them, they can access the full potential of those tools.
Promote cross-functional collaboration
This is a particularly critical stage.
By its very nature, RevOps calls for different teams to come together and work as one—which relies on effective collaboration regardless of professionals’ individual functions. That’s why encouraging this type of teamwork is going to give you a major edge over competitors.
When your teams all work together effectively, you can also ensure that any problems within the company’s structure will come to your attention more quickly since these will impact the collaboration efforts. That allows you to improve your overall structure to better serve your goals.
As an added bonus, excellent cross-functional collaboration lends itself to future multi-team projects. This gives you more flexibility for the future, making growth easier to achieve.
Build a culture of continuous optimization
Once you’ve completed your RevOps streamlining process, you’re done… right?
Not quite. You’ve got to be ready to keep optimizing over and over. This helps you fine-tune your communications, reduce operational costs, boost your bottom line, and more.
Continuous optimization essentially means you’ll always be looking for ways to improve. This could mean streamlining your invoicing process or introducing business payment solutions to connect your bank feeds and offer more payment options.
Your employees are key to this process. When your employees’ minds are geared towards this approach, they’ll readily point out areas that they feel could use improvement. This helps you determine exactly where to focus to secure business growth in the future.
Streamlining revenue operations helps your business run more efficiently since it ensures your disparate teams work together towards your company’s common goals.
That’s why it’s vital to make sure you know exactly how to go about streamlining your RevOps.
The above steps will guide you on your way. However, the most important thing to do is to pay particular attention to the ‘continuous’ aspect of the last step.
Optimization is a constant process with no real end in sight. It’s got clear goals but no fixed point at which you can turn around and say you’re done for good—because new solutions are constantly being created to allow for even more streamlining. Keep an open mind, and be ready to continuously streamline.
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