RevOps strategies are necessary for B2B marketing. But why?
RevOps (Revenue Operations) is a combined effort of all branches of an organization to work together in a flow with unified strategies to align the metrics and goals for growth.
Businesses are in continuous need of RevOps to empower their B2B marketing strategies. The focus is to grow revenue or streams to earn more. The implementation and definition of RevOps changes from company to company. It depends upon the strategies, infrastructure, and goals of the business.
Today, I will provide a complete guide about RevOps strategies to grow your business in the long run.
RevOps Framework: Go-to-Market and Demand:
The business works on demand. To sell more, a company needs to create demand in the market. RevOps strategies help an organization understand the nature of the market and generate demand in it.
RevOps work in both directions. It combines both teams to align strategies that increase customer engagement and brand awareness.
To get the best result from RevOps strategies, marketers should combine the Go-To-Market with demand generation activities.
RevOps and Go-to-Market Framework:
Go-to-Market framework is necessary to grow in the current market.For example, the Inbound Growth GTM framework focuses on traffic and lead generation. But product focused growth GTM framework focuses on driving revenue.
In the current market, GTM frameworks adopt a full-funnel approach to engage with the customer on each level of the buyer's journey.
Now, the focus is to create a fantastic customer journey that influences the buying decision in favor of the organization.
RevOps and Demand Framework:
Demand generation is required to make more sales. It is an essential part of GTM strategies.To increase demand, brands spend millions of dollars on marketing, brand image building, and creating sales opportunities.
When economies are shaking, it becomes a tedious job to increase demand in the market. Here, customer interest plays an important role.
Organizations demand strategies focusing on customer engagement with the help of leadership and content marketing.
RveOps Combine Teams:
- Define UVP: UVP or Unique Value Proposition is the value that you offer your client in terms of growth and revenue. Focus on business growth in the target markets.
- Find out Obstacles: Every business faces obstacles. It is necessary to find them before they hit your business hard. RevOps align your teams within the organization to identify roadblocks.
- Goal and purpose: Define goals and purpose on day one. Share your vision with your teams and align them to focus on achieving those goals.
Adopt RevOps to combine your teams on one path to grow your business and revenue.
RveOps can be different for the Departmental and Functional approaches.
Departmental vs. Functional RevOps:
- Functional RevOps: The functional approach distributes tasks among the teams based on the skill set.
- Departmental RevOps: Distributes tasks with departments based on skills and expertise.
Departmental and functional are both different approaches. An organization must define the RevOps teams based on either one of them. Find out what works best for your organization.
RRBM Model:
RRBM, or Recurring Revenue Bowtie Model, focuses on the customer journey and engages at every point of time before and after the sale.
It is a full-funnel approach to engage with the customer at every level for successful onboarding and sales. It includes processes like renewals, upsells, cross-sells, etc.
RRBM model was introduced by Winning by Design to focus on each step of the customer's journey. It is helpful in building connections and relationships with the customer.
RevOps for AI and Data:
Organizations are utilizing the power of data and AI technology. RevOps focus on essential customer data to create effective strategies for better ROI.
Practical evaluation of customer data will help in finding points that can influence the target customer and improve the number of sales.
RevOps focuses on buyer intent, which is more important than any other data type. Organizations get a clear picture of when and how a customer interacts with the organization or products.
It also makes the way for future customer interactions.
With this data, revenue teams can make decisions to boost ROI based on customer intent.
Target Defensive Customer:
Customers have adopted a defensive approach due to the pandemic and economic uncertainty. Changes in customer behavior have led companies to focus on strategies to target defensive customers.
How to Engage with a Defensive Buyer in 2024?RevOps in 2024 are becoming more common among organizations to build unified strategies for target customers with defensive buying.
Create Buyer's Journey:
Create a buyer's journey with a self-service approach. Organizations must develop the buyer's journey on their own and let the customer follow the footprints created by the sales team.
Ensure that the customer follows the buyer's journey and understands the demo, download, or price of the final product.
75% of customers want to buy products but without a salesman.
Adopt Advances based Experience:
ABX or Advanced Based Experience that focuses on customer and client experience to form effective growth strategies.
With ABX, organizations can create a buyer's journey without making him feel tutored.
Lead Data and Stack:
RevOps framework needs real time data. A data audit is essential to ensure that your framework is utilizing effective data points.
With data audits, companies will get rid of meaningless tools and incorrect data sets.
Grow with GTM and RevOps:
RevOps focus on Client Acquisition Cost and Client Lifetime Value. Both are important for revenue generation and trust building.
- KPI Touchpoints: Focus on content creation and client outreach to improve revenue.
- Understand Buyer Persona: Understand what your customer wants and plan your customer's journey according to that. Focus on the touchpoints and pain points to create an effective strategy.
- Analyze Quarterly Growth: Organizations publish quarterly reports to understand the growth within the last 4 months. But if a business has a long sales cycle, then it will not be easy for marketers to get the real-time performance report.
- Feedback: Collect feedback from clients to understand the roadblocks and tips to resolve them.
- Prospects: Focus on prospect conversions. Adopt a different approach when targeting prospective customers.
How to grow revenue with GTM and RevOps?
Conclusion:
RevOps strategy helps in creating a rich buyer journey and aligning resources like tech stack, datasets, and AI tools to nurture leads for revenue growth in the current cycle.
Combining RevOps with B2B marketing will reveal better ways to influence the customer's journey and even sell to defensive customers
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