Revenue operations (RevOps) is relatively new to the business-to-business (B2B) space—and yet it is quickly rising in popularity. As B2B organizations continue to prioritize revenue generation and scalable growth, companies are turning to this methodology.
Under a RevOps framework, businesses unlock their full growth potential by aligning their customer-facing teams (marketing, sales, and customer success), automating repetitive processes, improving operational efficiency, and investing in revenue-generating activities.
Let’s take a closer look at how organizations are benefiting from RevOps in 2023 and what trends we can expect to see in the coming year.
The State of RevOps in 2023
By some estimates, the concept of revenue operations and the term “RevOps” emerged as recently as the early 2000s. At that time, teams responsible for driving revenue at B2B organizations were siloed, each responsible for their own tasks. The lack of transparency, alignment, and accountability limited the growth of many companies.
Now, thanks to the rise of RevOps, all that is changing.
Today’s leading B2B companies are already seeing the benefits of implementing revenue operations in their organizations:
- More than 20% of companies improved alignment and productivity across marketing, sales, and customer success teams
- Companies with aligned marketing and sales processes, people, and technology increased profitability by 28% and revenue growth by 36%
- Companies that introduced RevOps achieved 3x faster revenue growth than those without a revenue operations function
The RevOps movement is here to stay—and with 11% of companies planning to invest in revenue operations in 2024, we’ll see more and more businesses join the club.
5 RevOps Trends to Follow This Year (& Beyond)
As the B2B landscape continues to shift and RevOps continues to be an important part of scalable growth, it’s important to stay up to date on best practices and trends. We’ve curated a list of five RevOps trends to keep in mind as you develop a revenue operations strategy, expand your existing RevOps team, and create actionable plans to achieve your revenue goals.
Streamlining Processes with Automation
Automation has always been an important part of a successful RevOps framework, but as new technology emerges, there are more opportunities for automation than ever.
Having software that automates repetitive tasks allows marketers, sales representatives, and customer service agents to spend their time on revenue-generating activities like nurturing leads, closing deals, and curating a positive experience. Automation streamlines operations and optimizes processes so the customer journey is more efficient than ever.
Technology like machine learning (ML) and artificial intelligence (AI) also increases the power of automation tools. Today’s RevOps strategists can use AI- and ML-powered software to automate the data analysis and report generation so they are able to make informed, data-driven decisions in near real-time.
As automation technology continues to advance, we’ll see it leveraged by RevOps teams across industries to streamline processes and conduct powerful data analysis.
Increased Focus on Revenue Forecasting
Revenue forecasting—the process of predicting revenue growth in a certain timeframe—has traditionally been based on historical data. Using available qualitative and quantitative data, stakeholders make educated guesses about how much money the company can expect to generate.
Unfortunately, in an increasingly unpredictable world, that’s not good enough. B2B leaders need to be able to adapt to unforeseen changes and make real-time predictions if they want to have a competitive edge.
RevOps has transformed revenue forecasting for the better. With more accurate data, automated report generation, and real-time insights, revenue operations ensures your company can make data-driven decisions in a matter of hours or days (as opposed to weeks or months). Thanks to RevOps, B2B stakeholders can respond proactively to changes or trends instead of being forced to wait to react until after they have occurred.
B2B companies are realizing that RevOps not only increases their revenue generation efforts but also allows them to make more accurate and timely revenue forecasts. We expect this trend to continue to rise in the next few years.
Increased Use of Machine Learning (ML) & Artificial Intelligence (AI) Tools
ML and AI tools have long been used by B2B organizations to automate tasks, streamline processes, and organize data, but recent advances in these technologies means they are more powerful and accessible than ever.
It’s no surprise that RevOps strategists are finding new ways to employ ML and AI software.
One of the key benefits of RevOps is its ability to analyze real-time data from customer-facing teams and draw insights that help stakeholders make informed decisions. But those data-driven decisions are only as accurate and reliable as the data itself.
The increased role of machine learning and artificial intelligence technology allows RevOps leaders to collect, clean, organize, and analyze data more efficiently than ever. ML and AI tools can sift through massive amounts of customer and financial data, filter out irrelevant information, identify trends, compare data to competitors, and consolidate insights into readable, actionable reports.
Making decisions in near real-time requires access to data that is up-to-date, relevant, and clean. Today’s RevOps leaders are using ML and AI tools to amplify their data analysis capabilities and draw insights based on the results.
Closer Collaboration Between Customer-Facing Teams
A sustainable, effective RevOps strategy relies on the alignment of customer-facing teams (marketing, sales, and customer success). When these departments share processes, platforms, people, and data, they can work together to achieve organizational revenue goals.
To enable closer collaboration between customer-facing teams, RevOps leaders are coordinating communications, ensuring different technology platforms are integrated, streamlining the flow of data across teams, and fostering an environment of learning. Instead of working in silos, revenue operations aligns these teams under the same revenue and growth goals and makes sure the customer journey is seamless from one team to the next.
As RevOps expands into more and more industries and companies, expect to see revenue operations teams dedicate resources to deploying integrated tech stacks, encouraging communication across departments, and creating opportunities for collaboration.
More Emphasis on the Customer Experience
In the highly competitive world of B2B marketing and sales, competition for customers is fierce. And buyers aren’t satisfied with good products anymore—they are also looking for an exceptional customer experience. That means when businesses want to attract new prospects, they are shifting their attention to solving problems for customers, improving the customer experience, and ensuring a seamless customer journey.
Not to mention that a positive customer experience leads to revenue growth: Happy buyers become loyal customers and brand ambassadors, making it easier for you to retain their business.
RevOps strategists are now focusing on the customer experience. From analyzing customer data and personalizing buyer communications to shortening the length of the sales cycle and optimizing customer service processes, revenue operations is key to curating a high-quality experience for each customer throughout every stage of the buyer’s journey.
Get Started with RevOps at OneIMS
Revenue operations isn’t going anywhere. To stay ahead of the competition, streamline processes, increase revenues, align customer-facing teams, and achieve sustainable growth, your B2B company needs to invest in RevOps.
At OneIMS, our team of RevOps experts is ready to help your organization design and implement a revenue operations strategy that maximizes your growth potential and transforms your business into a revenue-generating machine. With a RevOps strategy in place, your company will optimize operations, create an effortless customer experience, and function more efficiently.
We have a long history of working with companies in a variety of industries to develop innovative and data-driven marketing solutions, and we pride ourselves on producing measurable and sustainable results that lead to long-term growth.
Are you ready to achieve revenue growth? Schedule a consultation with us today to get started.