How to Make the Transition to Revenue Operations - RevOps
Timothy "Tim" Hughes 提姆·休斯 L.ISP
Should have Played Quidditch for England
RevOps or Revenue Operations is a way to organise your revenue generating parts of the business.
Marketing, Sales, Business Development, Lead Generation, SDRs, BDRs, Renewals, Customer success all under one strategy, leadership and objectives.
SiriusDecisions found that aligned teams saw 19 percent faster growth and 15 percent higher profits. I think those figures are low, but SiriusDecisions or Forrester as they are now, are a research company and are not practitioners, like us.
So how do you make the transition?
Stand back you need a strategy
Don't rush into this, we would suggest you bring the team together to form a strategy. Doing anything else is like buying the furniture, before you build the house.
The strategy session will enable you to understand the "as is" position as well as crowdsource the "to be" position. As many staff as you can, should be involved, it's critical that no stone is left unturned.
People, process and technology - where are the animals hiding?
There are three things you need to look at which are the people, the process and the technology.
RevOps is you chance to move away from all those legacy process, tech and those people that say "but we always did it that way".
I would recommend that you get outside help in for this, people that will ask great questions and not dodge those elephants in the room and those scared cows. I know I'm biased but DLA Ignite have, over the last 6 years gained extensive experience in helping businesses transform and ask the difficult questions.
Outside help should support the discussions about structure, this is a great time to get rid of duplication and re-assign people. It is also a time to look at data. Digital allows the business to look at new measures. For example, in the past a business would use the CRM to make investment decisions, now you can get visibility of the business way before that.
My other tip is, do not let decision be driven by a tool. We spoke to a client and they said "we cannot move to RevOps because our sales enablement tool won't let us". This is as great example of how legacy IT is holding that business back.
So who's social selling?
In case you missed it, the Bank of America’s Merrill Lynch have banned cold calling and have moved all their people to social selling. This isn't some trendy tech company that might have decided to do this on a whim, this is a very conservative financial services company that has made a decision based on data.
But surely cold calling has a better ROI than social selling? Not according to Merrill Lynch.
"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling"
The CRO (chief revenue officer), Richard Eltham of Namos Solutions, of one of clients posted a comment on LinkedIn about social selling. See here.
“Social selling is not an option now it is the way of the world and you either learn and execute it or fear getting left behind”
Kevin Murray who is the Head of Sales at MacArtney Underwater Technology recently posted about his success with social selling here and wrote an article about the transformation that has happened in sales here.
I don't believe you Tim!
If you check out this video of Chris Mason CEO at Oracle reseller Namos, fast forward to 19 minutes 55 seconds. Chris talks about a $2.6 million win from being on social, after completing the DLA Ignite social selling and influence course.
Here at DLA Ignite we don't do "hints and tips sessions" we don't want you to waste your money. Our social selling and influence methodology will provide your sales team with the stable platform for growth. It is also the only social selling program based on 70:20:10 change management principles which gives your business the mindset change and habit change they need in this digital world.
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John Vrdolyak
Communication/Marketing/COW- Connecting Our Women Founder/ Proud Mum to 6 rescue pets
3yVery informative article Tim. Thank you.