What the F*** is RevOps?
Understanding the concept, skills and mindset of RevOps
I’m sure you’re here because we’ve put some expletives in the title, but what the f*** is RevOps? Does anyone actually know?
In the land of business strategy, new buzzwords emerge, often clouded in mystery. One such term is “RevOps,” a concept that’s been making waves across companies of all sizes.
To unravel this mystery, we turned to the insights shared by Harriet Edwards, a RevOps consultant, Rudy Wilson-Evans, a RevOps manager, and Karla Wentworth, the host of this Ignite 2023 panel. Together, they shed light on what RevOps truly means and how it’s shaped the future of business operations.
What is RevOps?
RevOps stands for Revenue Operation. To our three experts, RevOps has been more than just a role or department; it’s a mindset and a strategic approach to driving revenue growth.
According to Harriet, RevOps acted as the “service hub” within a company, orchestrating revenue-related activities across departments. “It’s a mindset. A revenue-focused setup where everyone contributes to generating revenue. We’re all selling or enhancing the customer experience,” she explained.
For Rudy, RevOps represented the intersection of the go-to-market strategy and practical implementation. It’s about fostering collaboration between departments to achieve tangible outcomes contributing to revenue growth. In essence, RevOps served as the bridge between strategy and execution.
In a nutshell, RevOps is about breaking down silos and creating a holistic approach to business operations. Karla neatly summed up, “Sales, customer service, marketing with one purpose.”
When does a business need RevOps?
The decision to introduce RevOps into an organisation often hinges on specific signals.
According to Rudy, the need for RevOps becomes apparent, “If you’re starting to see that there are silos developing within teams, people have got OKRs (Objective and Key Results) that don’t align to one another. You’ve got targets that people are hitting, but the overall business isn’t succeeding, then RevOps is probably required at that point.”
Harriet noted that an inflexion point often occurs when a company’s revenue surpasses 20 million. Private equity involvement often triggers a shift towards predictability and sustainable growth, marking the perfect opportunity for RevOps to make a significant impact.
Where should RevOps sit in a business?
Who should lead RevOps, and where should it be situated within an organisation? The consensus was that RevOps shouldn’t be confined to a single department. It should have the autonomy to transcend traditional hierarchies and silos.
Harriet emphasised that RevOps should not be tucked under a single unit, as it loses its essence. “If RevOps is tucked under a unit, it’s not RevOps. It’s a silo product of those things. RevOps supports the buyer journey, customer journey, and customer experience.”
Rudy added that it ideally operates above the fray, bridging gaps and facilitating collaboration between departments. “Being able to keep away from the issues of sales and marketing and see us having those natural silos and conflicts, we can dip in between those lines and be the bridge between how things move.”
Venturing into RevOps
For those considering a career in RevOps Harriet stressed the importance of being agnostic. To navigate conflicting demands while remaining centred on the customer and revenue.
“The most important thing that you need to be is agnostic. You have to hold the line by centring yourself around the customer and the revenue,” Harriet illustrated. This skill is crucial as it requires balancing various stakeholders and objectives.
Rudy shared his journey, highlighting that diverse backgrounds can provide valuable skills for RevOps. Starting in finance but transitioning to sales and marketing, drawing on skills like Excel proficiency and problem-solving abilities. The ability to solve problems regardless of one’s background is a key trait in the realm of RevOps.
As the conversation came to a close, the call to action resonated clearly: Let’s unite, redefine RevOps, and embark on the journey to make it a cornerstone of modern business. Through this discussion, one thing became evident—RevOps is more than a buzzword; it’s a guiding philosophy that shapes the future of revenue operations.