Table of Contents
Do not index3
Do not index3
Created on
May 4, 2023 11:26 AM
Type of content
Status
Ready to post?
Ready to post?
Writer
Final Draft Due
As the business landscape becomes more remote friendly, managing sales teams, customer data, tech stacks, content deliverability, and digital marketing infrastructure has become increasingly complex. Revenue leaders have reported that managing processes from start to finish, ensuring proper tech support, along with doing their daily strategic planning is more than enough for one person to handle. To address this challenge, Revenue Operations (RevOps) has emerged as a vital cross-functional need for companies looking to improve their revenue engine by offering process improvement that covers the entire GTM umbrella.
Proper data hygiene can help businesses align their cross-functional teams, assets, systems, and processes around customer and company goals, accelerating revenue, profit, and value growth. Revenue Operations can generate five to ten points of bottom-line profit contribution in the short term or improve long-term growth prospects by over 50%. As a result, revenue Operations (RevOps) is a business need that has grown in demand over recent years. Still, the function's actual value needs to be understood in the language of standard sales practices.
In this article, we will explore the importance of RevOps and how using AI to help streamline this growing profession could be the missing piece to accelerated growth.
The Importance of a Modern, Data-Driven Approach
Due to the growth of tech, the landscape of customer engagement has changed dramatically in recent years, rendering traditional linear approaches to managing marketing, sales, support, and fulfillment resources ineffective. To succeed in today's digital business environment, businesses need a more modern, data-driven approach to manage distributed teams properly and the customer journey. When clear data is presented, revenue leaders are able to depict what activities hold more value in the pipeline.
Proper revenue operations can help businesses align their cross-functional teams, systems, and processes around customer and company goals, accelerating revenue, profit, and value growth. With tech stacks growing and revenue teams shrinking, 70% of revenue leaders report that process management is becoming more challenging than ever. With an emphasis on clear and concise data when contributing to cross-collaboration, it is clear that manual process management needs to catch up.
Proper data measurement and management are crucial in identifying areas for improvement or optimizing revenue streams, which is why most companies must effectively manage critical assets such as customer data, technology infrastructure, and digital marketing channels. Manual systems are still effective in detecting and responding to revenue leaks. Still, automated systems have the advantage of being able to operate 24/7 and can be more efficient in managing process alignment.
The Hybrid Model of RevOps
To drive revenue growth and improve revenue streams, revenue leaders in sales must embrace the hybrid model of RevOps, which combines manual and automated process management systems. For example, automated response systems can help detect and respond to leaks quickly and efficiently, operating 24/7 without human intervention. Gluework.io conducted research on the power of AI and it’s contribution to manual process management and found that this assistance led to a 22% win increase, 65% faster lead response time, and 30% increase in data accuracy . In addition, by having automatic triggers in place, revenue leaders can manage process alignment more effectively.
The hybrid revenue management model is most beneficial, aligning cross functional teams, assets, systems, and processes around a coherent set of customer and company goals to accelerate revenue, profit, and value growth.
Businesses can achieve long-term success by correctly measuring and managing data, fostering collaboration and alignment, and adopting a modern, data-driven approach. In addition, AI can help streamline RevOps and detect revenue leaks, increasing revenue and profits by showing leaders exactly what is going on in the pipeline from initial conversation to close won or lost.
Businesses that deploy hybrid solutions for Revenue Operations can generate significantly more revenue and profits by better managing, measuring, and doubling down on their revenue-generating activities and the growing operations that support front-line sellers.
Collaboration and Alignment are Critical
Revenue growth is a team sport that requires collaboration across all teams, including marketing, sales, and customer success. To achieve optimal revenue growth, it is imperative to develop operating models, incentives, and platforms that foster this collaboration. By working together as a single revenue team with a shared objective, organizations can address critical growth imperatives and achieve their revenue goals.
With companies scraping to do "more with less," is there a straightforward solution for the complexity of modern-day process management?
Combining the best of both worlds in product form
Gluework is a revenue operations tool that uses AI to allow revenue leaders to see the real-time change that occurs in the pipeline. With Gluework, you can watch all sales activities to ensure proper adherence and get real-time time alerts when revenue is at risk while identifying which processes generate the most revenue.
With Gluework, you can:
- Grow revenue faster with fewer sellers by coaching based on proven processes
- Maximize the value of your tools and reduce the time spent in status meetings and analyzing reports.
Emerging a new era of selling demands that we reach a new age of process optimization. With Gluework, companies can provide revenue teams with real time feedback about missing imperative data due to increased job duties
Revenue leaders in sales must embrace the new era of selling demands as we reach the growing need for process optimization. Using Gluework, businesses can better manage, measure, and double down on revenue-generating activities and growing operations to support front-line sellers properly.
In the current economic decline, it's crucial to understand the importance of creating opportunity if and whenever possible. By prioritizing RevOps and embracing the hybrid model, revenue leaders can agree that throwing people at a problem is out, and straightforward solutions are in.
