If you’ve been on the fence about trying RevOps in your company, or you’re worried it’s a passing trend, worry no more. Fear and doubt are for 2021. For 2022, RevOps is revving companies up for revenue growth, a welcome prospect in these uncertain times.
Revenue Operations, or RevOps for short, has shifted how companies think of growing revenue. While past models dictated a distinct separation between sales, marketing, CX, and other departments, it is now proven that when businesses focus on strategies to build revenue across the board, the result is a better-connected workforce and a bigger bottom line. This focus on connected teams creates a singular revenue engine to optimize every prospect and customer interaction for maximized growth. It makes use of technology to improve processes and turns to metrics for data-driven decisions. And the result? Reduced operations costs and maximized revenue growth.
As we start the new year, however, the inevitable question arises: where is RevOps headed in the ever-changing economy of a post-pandemic world?
In the past few years, an increasing number of businesses have switched to a RevOps model and research shows that connected B2B revenue teams grow 19% faster and are 15% more profitable. It's not surprising – with a solid Revenue Performance Management strategy in place, the entire workforce – not just sales – have linked incentives and a connected target. This creates a holistic revenue workforce, with perviously siloed teams connected via the same compensation structure.
There’s no doubt that the switch to a RevOps model will only expand from here on out.
Below are some of the ways that RevOps is likely to grow and transform in 2022.
In 2021, companies were getting increasingly onboard with the idea of RevOps and with the need for more collaboration and consistency across departments clear and unavoidable, more businesses will implement a RevOps strategy in 2022.
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Data is king in RevOps. Data about the kinds of marketing strategies consumers respond to, what they want from CX, what makes customers stay loyal: these are just some examples of the types of data fuelling RevOps decisions. It's therefore vital that customer data is combined into one central repository in order for revenue teams to access the data they need when they need it.
RevOps is still a relatively new strategy for revenue growth. As such, there’s not much literature on the subject. In the Go Nimbly, HubSpot, and RevOps Squared report, 28 percent of participants said that the reason they did not have a RevOps function in place was because of a lack of educational resources. Going into 2022, those resources will increase as interest in this model grows.
The more RevOps is put into action, the more companies will be able to fine-tune the definition of RevOps. Does it require a whole new department or just one officer? Is it a large enough model that we need to put someone in charge of it, or can our departments work together effectively enough to do without a specialized supervisor?
During the pandemic, more companies have become used to accommodating their workflows for remote workers. The transition to a remote-friendly organizational model is a boon for RevOps. It means that a company can apply communications systems they’ve developed for their remote employees to setting up revenue operations. Thus, the work of creating a line of communication between the departments and dumping the silo model is already half done.
It goes without saying that automation is crucial when it comes to saving time and maximizing productivity. So in 2022, smart revenue leaders will be automating more and more processes and making the most of new technologies so that manual, time-consuming tasks become a thing of the past. For Sales, some examples of previously manual tasks where automation can now play a part include:
Understanding the best next steps to maximize revenue will be key in 2022. The latest AI-backed solutions make sales compensation modeling and analytics a breeze, to understand "what-if" scenarios and simulate potential performance outcomes in uncertain times.
Interested in learning more about RevOps? We wrote a whole series breaking down everything you need to know. Check out part I here.
