Customers play a key role in the revenue stream of all companies. Without customers, businesses would flat out fail. Unfortunately for many B2B companies, they have one thing in common: They find that maintaining customer loyalty and retention is challenging.
LeanData reports that 78% of people polled in their B2B study agreed that consistent revenue growth is difficult for B2B companies when the top lines of success are not aligned.
Flashback moment! Remember when marketing and sales departments were siloed and it was completely forbidden to share any data between both lines?
Today, B2B companies have managed to align their sales and marketing efforts with the help of resources dedicated to alignment.
So what’s next? Align customer successes! It is time for B2B companies to also include customer successes, stories, and experiences in the mix—A fresh concept known as Revenue Operations.
RevOps Aligns Customer Success with Sales and Marketing
The customer experience (CX) is just as important for B2B businesses as it is for B2C businesses.
Indeed, customers play an integral part in any company’s revenue cycle, which is why more than 80% of companies who prioritize CX are reporting a consistent increase in revenue.
Simply put, customer success is the process of making and keeping customers happy with a product, service, or overall experience.
A RevOps strategy ensures that revenue and customer loyalty aren’t stagnant by acting as the glue between sales, marketing, and customer success teams.
B2B companies preach that it is important to maintain customer happiness pre and post-sale as almost every company buys into the idea that better customer experiences will add to the pile of customer successes.
The customer journey is only beginning to evolve once a customer signs the contract, which is why RevOps enables B2B teams to address the customer at each stage of their journey.
With a free-flowing data framework in place, B2B companies can now find quick solutions to the broken buyer’s journey along the way.
Not only does RevOps make the customer journey a priority at all levels of a B2B company, but it also gets all teams involved in generating revenue to complete one ultimate goal: capitalize on all opportunities to increase the B2B revenue cycle.
3 Ways RevOps Will Help your B2B Strategy
Like I mentioned earlier, B2B companies face challenges when maintaining a steady revenue cycle.
84% of B2B respondents agreed that revenue from operations is achieved when sales, marketing, and customer successes share equal responsibility.
That means one thing: Align all three lines of success to share revenue responsibility. When B2B companies learn to align customer success, they benefit in the following ways:
1. Simple Operations
B2B companies suffer from misalignment in their top line of operation. The RevOps framework works to fix this problem by restricting siloed departments to function individually.
This ensures each of your top lines of success remains in the loop and performs according to the ultimate goal to drive revenue.
RevOps connects every single person that impacts a company’s revenue cycle, allowing teams to share free-flowing data from one department to another.
What makes this simple is the fact that teams are no longer limited to their data, goals, and job descriptions. The RevOps approach brings the best out in everyone and allows teams to connect more than ever before.
2. Alignment that is Goal-Oriented
Of the LeanData respondents who agreed that the top lines of success share revenue responsibility, 37% said that the lines responsible for revenue aren’t aligned within their B2B companies. This is why B2B companies have trouble maintaining a consistent revenue stream.
On the other hand, a much more focused approach would make for a consistent revenue stream that much more manageable.
For this to be achieved, everyone involved must be united by similar objectives. B2B companies with a RevOps strategy unite their top lines by ensuring each of their respective goals and objectives has a measurable, quantifiable outcome.
The top line of success can now assist each other in visualizing how their efforts can lead to achieving goals in every department, ultimately leading to revenue growth.
Kiss goodbye to those days of role-playing when departments had their tasks and interests—The barriers are broken down and teams can finally set objectives that are for the best interest of the top line.
3. Quick Adaptation to Market Changes
Because the RevOps framework allows for teams to communicate and perform under a goal-oriented strategy, adaptation to any market change is seamless.
B2B companies have their processes and technology stack aligned at all levels of their business, so market changes will have little to no impact on any internal functions of an organization.
As a result, the time to market and time to risk mitigation is reduced.
B2B Industry Leaders Who've Implemented a RevOps Strategy
While Revenue Operations may be considered to be a big shift for many B2B companies, some have already managed to implement this framework into their daily operations.
HubSpot is a B2B company that heavily markets its inbound software to large-scale companies. Their revenue engine is monitored by the Chief Revenue Officer, who is responsible for overseeing all top lines of success and ensuring each is operating efficiently to increase revenue growth.
ServiceTitan, a company that specializes in software for the trades industry, has also adopted the role to oversee its go-to-market strategy and execution of its growth initiatives. The home services startup has raised $165 million and counting, as it continues to take a large share of the $400 billion markets!
As for HubSpot, they’ve recently introduced its new CMS Hub software to its already abundant belt of resources—and it is quickly rising to popularity.
Both B2B companies are growing fast and strong. And although they form part of different industries, they have one thing in common—their operations rely on the RevOps framework.
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