Unlocking Revenue Growth: How Alignment is Key to a Successful RevOps Strategy | #RevOpsLife
In the latest #RevOpsLife series article, I have focused on the RevOps strategy element of alignment, and why it is absolutely fundamental to successfully implement your RevOps strategy.
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Avoid The Tactics Shiny Balls
I know it's super easy to get pulled into tactics, do this campaign, that initiative, however without a strategy approach first its highly likely you will hit cul-de-sacs, take wrong turns and the cost of these avoidable errors will be extensive, before even counting the cost of lost opportunity, which most leaders I have worked with don't always quantify or bring into negative initiatives.
So be warned….adopt a strategy that precedes everything approach, and at first, it may feel like you are slowing down, you are actually building a solid bearing for your flywheel in RevOps to spring.
Summarized, avoid quick win tactics, and first strategize to ensure you set yourself up for RevOps success.
Think About The Journey Not The Present
As we move into this article deeper, I’d like you to think about the fact that in today's fast-paced business environment, scaling up your organization will be a daunting task. It will be especially if you are not geared for success.
In 28+ years as an entrepreneur, I've never seen high growth or scale-ups work exclusively on tactics alone, the successful ones have rock-solid strategies.
So before embarking on these journeys, and as your organization grows, it will become increasingly challenging to manage revenue-generating teams and processes, you have to implement a strategy that avoids departmental silos from being a friction in your growth trajectory.
This is where Revenue Operations (RevOps) comes in and for those early in your RevOps journey, here is a reminder of what RevOps is.
“RevOps is a strategic approach that aligns sales, marketing, and customer success teams towards common revenue goals.”
The Importance of Alignment
My goal with this post is to ensure you place importance on alignment, ensuring you have a strong grasp and commitment to exploring why alignment is the first and most critical step in a successful RevOps strategy.
Alignment is the cornerstone of your RevOps strategy.
When your teams work together towards common revenue goals, your organization will achieve revenue growth and long-term success faster and more sustainably.
Smash The Slios
One of the most difficult elements of alignment especially with long-serving or established teams is to have no fear and make sure you break down silos, replacing them with a culture of collaboration.
Doing this ensures that everyone in your team is working towards the same revenue objectives, leveraging the skills and expertise of your teams to achieve the absolute best results.
This is easier said than done granted….
Here are some recommendations and Guidance around Alignment:
1: Communication of Revenue Goals
The most common pitfall that organizations fall into around alignment is failing to communicate revenue goals to all revenue-generating teams.
Some of your team won’t even think they are revenue generators which is their first mistake.
When teams don't understand their role in achieving these goals, confusion and misalignment can quickly set in. Your entire organization must be aware of the revenue goals and understand how their role impacts these objectives. This ensures that everyone is aligned and working towards the same goals.
2: Fostering Cross-Functional Collaboration
This is also critical to achieving alignment and without collaboration, sales, marketing, and customer success teams can become siloed, leading to missed opportunities and lost revenue.
It's essential to ensure that teams work together and communicate effectively to optimize revenue growth. You can achieve this by introducing and fostering open communication channels, breaking down departmental barriers, and encouraging teamwork across the organization.
An example - previously in our slack channel at 6teen30 Digital we would have a #marketing-team, #sales-team channels etc, this alone is subliminally breeding a culture of silos. Change them to something more collaborative or impactful to your end goals like #marketing-revenue-contribution or #organization-growth-objectives.
3: KPIs and Individual Contributions
Another crucial aspect of alignment is ensuring that everyone is aware of the specific revenue goals they are personally working towards. With RevOps, every person in your team should have their own number that they are targeted and measured against.
Your teams must have a clear understanding of the KPIs that they are being measured against, and how their performance impacts overall revenue growth.
Clear communication of these objectives will ensure that everyone is on the same page and working towards the same goals.
4: Doing the Basics First
For every RevOps strategy I write, alignment is the critical first step to achieving a successful RevOps strategy implementation. It's just unheard of and impossible to accept anything less than it is essential to break down silos and foster collaboration across sales, marketing, and customer success teams.
Without alignment, as an organization looking to implement RevOps, you will struggle to achieve meaningful revenue growth and long-term success.
However, with a focus on alignment, your organizations can create a culture of collaboration, optimize revenue growth, and stay ahead of the competition while better servicing your customers.
While achieving alignment in a RevOps strategy is essential for success, there are several common mistakes I see that organizations should avoid.
Here are four mistakes to watch out for:
1: Lack of clear communication:
Failing to communicate revenue goals, KPIs, and performance expectations to all revenue-generating teams can lead to confusion and misalignment. To avoid this, ensure that everyone understands the objectives they are working towards and their role in achieving these goals.
2: Silos and departmental barriers:
Silos and departmental barriers can lead to missed opportunities and lost revenue. To avoid this, foster cross-functional collaboration and encourage teamwork across the organization. This will help ensure that everyone is working towards the same objectives and leveraging their skills and expertise to achieve the best results.
3: Insufficient resources:
If you have a lack of resources, such as staff, time, and budget, this will hamper RevOps strategy implementation and alignment efforts. Ensure that the organization has sufficient resources to support the strategy, including technology solutions, training, and hiring needs.
4: Failure to measure and monitor progress:
It's essential to regularly review progress towards revenue goals and KPIs. Failure to measure and monitor progress can lead to misalignment and missed opportunities. Ensure that you regularly review and adjust your strategy based on your progress.
Achieving alignment in a RevOps strategy is absolutely the first and critical step for long-term success. By prioritizing alignment, your organization can optimize its revenue operations, improve customer experiences, and position itself for long-term success in an ever-increasing competitive market.
If you want to learn more about how to achieve alignment in your RevOps strategy, book a strategy session with one of our RevOps experts. Our team will listen, learn and help you develop a customized strategy through our trusted process to define and implement your RevOps Strategic GamePlan that's tailored to your organization's unique needs, goals, and challenges.