The Power of Revenue Operations for Small-to-Medium Sized Businesses

On today’s episode of Aligned, we’re pulling out an all-time favorite episode featuring our first episode with Will Riley that benefits virtually any business owner looking for simple changes that can lead to high impact across your business’s performance. The secret? Revenue operations! 

Marketing has evolved faster than virtually every other industry.

• In this evolution, the power has shifted from belonging solely to sales to the consumer, allowing them to discover information themselves. 
• Sales will always be what closes deals, but there is often no communication between sales and marketing; technology stepped in to connect the two.

A prime feature of marketing evolution and automation? The rise of revenue operations.

• A 2020 LinkedIn study revealed that jobs with “revenue” in the title increased by 87% last year. 
• We live in a rich technical environment, and rev ops seeks to connect technology and customer success.
• Businesses are automating systems and processes to make more money, but that alone isn’t enough. It’s just as important to understand how technology can produce more leads, generate higher close rates, and offer cross-sell opportunities. 
• Rev ops breaks down silos by integrating different departments. Three different departments may have three different goals with three different objectives, and rev ops applies a new operational framework to outline their performance. 
• Misalignment has a hidden cost that creates difficulties. It leaves teams working harder than they need to. 

Let’s look at the facts:

• While 50% of sales time is wasted on poor prospects and bad leads, 65% of CMOs can’t measure the ROI of their company’s marketing activities, especially across multiple channels. 
• Ninety-five percent of buyers buy from someone who gives them content at each stage of the buyers’ journey. 
• Tightly-aligned companies achieve revenue growth 24% faster than those who don’t
• Misalignment between sales and marketing technologies costs B2B companies at least 20% of revenue per year. 
• Only 12% percent of B2B buyers want to meet in person with a sales rep, but 71% start the process with unbranded research. 

Rev ops need to have buy-in from all departments.

• Sometimes it’s easier to hire a third-party firm to focus on areas of current operations and enablement opportunities. A fresh perspective is sometimes needed. 
• While a third-party team can be beneficial, an internal team should be trained to continue their work once they depart.
• Smaller businesses are more agile and easier to change company culture. As a result, they are better able to leverage this tool.

“The Power of Rev Ops for Small-to-Middle Business” episode resources:

• Download FitzMartin’s Cognitive Marketing Framework, which will apply to anybody’s sales pipeline. 
• To connect with Sean Doyle, find him on LinkedIn, or learn more about FitzMartin on the company web page.
• You can also connect with Will Riley on LinkedIn.