Revenue operations, or “RevOps,” is emerging as a game-changer for forward-thinking B2B organizations looking to optimize their revenue generation processes. One would think that it would be a no-brainer for executives to prioritize adopting a RevOps strategy to drive their B2B business forward.
In fact, organizations that invest in RevOps report about a 10-20% increase in sales productivity as a result. However, gaining executive buy-in for a RevOps strategy is often easier said than done.1
Despite many executives touting the incredible benefits of RevOps, there can still be hesitancy from C-suites to invest in a robust strategy. To succeed in getting your C-suite to consider your RevOps strategy, you can’t simply come up with a list of reasons “why.” You’ll need to develop a thoughtful plan of action for approaching them that aligns with high-level business objectives that tie directly to revenue generation and cost-savings.2
We know it’s not always easy to capture executives’ attention, and that’s why we’ve decided to help out. Read on to get the critical components of crafting a revenue operations strategy that not only aligns with executive goals and secures that team’s support but also positions your organization for revenue growth.
Understanding the RevOps Strategy Framework
Before delving into the specifics, it's crucial for revenue teams to grasp the RevOps strategy framework. At its core, a RevOps strategy should align with one of the following high-level goals:
- Improving Volume: Involves strategies to increase the number of leads or opportunities generated, ultimately boosting the overall quantity of sales activities within your organization.
- Building Velocity: Focuses on streamlining and accelerating the sales cycle, reducing the time it takes for a lead to convert into a paying customer, thereby increasing revenue flow.
- Boosting Visibility: Entails gaining comprehensive insights into the sales process, enabling better decision-making, and helping your organization identify and act upon opportunities and potential bottlenecks more effectively.
Importantly, these goals must be directly linked to revenue growth or cost reduction. Without this alignment, your strategy lacks the essential foundation needed to gain executive buy-in. It’s key to remember that simplicity is in your favor; only include the most important reports on the executive dashboard.
The Framework for an Ideal RevOps Strategy to Get Executive Buy-In
Define the Strategy
Select one of the high-level goals (volume, velocity, or visibility) that best suits your organization's needs. For example, let's consider improving velocity. This might involve streamlining sales processes to reduce lead-to-close times.
Tie It to Revenue
Next, articulate precisely how this strategy aligns with broader revenue objectives. In the case of improved velocity, faster lead-to-close times can directly lead to more sales, hence revenue growth.
To gain executive support, be specific about how this strategy will improve revenue. For instance, calculate the potential revenue increase based on a percentage improvement in deal closures due to enhanced efficiency or automation
Quantify the Impact of a RevOps Strategy to Get Executive Buy-In
Numbers speak louder than words when it comes to securing executive buy-in. To make your case, quantify both the cost savings and revenue gains expected from your strategy.
- Consolidating Software: Calculate the cost savings from consolidating software licenses for more streamlined processes. The sum cost of these RevOps solutions can be significant.
- Time Savings: Estimate the time saved on maintenance, troubleshooting, onboarding and process management across different tech stacks and teams. Multiply this by the man-hours rate.
Estimate the potential revenue gains resulting from your revenue operations strategy. It could be, for example, a 1% or 10% increase in deal closures, depending on the specifics of your approach. Demonstrate the correlation between the efficiencies of a RevOps strategy and the potential revenue gains. Spell this out as clearly as possible for maximum impact.
Show and Address Implementation Costs
Don't forget to account for the costs associated with implementing your strategy, such as migration, onboarding, training and configuration. Distinguish between external and internal costs.To gain executive buy-in, be prepared to explain how these costs are justified by the expected revenue growth or cost reductions.
Key performance indicators (KPIs) are vital for tracking your strategy's progress. These metrics should clearly demonstrate the impact on revenue growth and cost savings. This is an opportunity to offer quantifiable metrics and numbers that grab your executives' attention.
Prioritize Your RevOps Strategy
Of course, it’s ideal if executives buy into your strategy, but you need to be prepared to demonstrate where the funding will come from to realize your plan. When presenting your RevOps strategy, you’ll need to emphasize why it should take precedence. Highlight its potential impact on revenue growth and why it may be more critical than other projects. Be ready to discuss reallocating resources from lower-priority initiatives to fund your RevOps initiative.
Crafting a RevOps strategy that gains executive buy-in is a massive win because, at ProperExpression, we believe that it's not only essential for revenue growth in B2B organizations and their revenue marketing, but it will be a prerequisite for successful organizations moving forward in the digital age.
We’re experts in RevOps strategies for B2B organizations; we help build your engine and refine and optimize your strategy so you can drive predictable revenue. From lead funnel management and automation to lead review and scoring, as well as HubSpot implementation, we’ll collaborate with RevOps solutions that help you align your strategy to achieve successful revenue operations and cost-saving objectives.
Ready for ProperExpression’s expertise to help your organization unlock unprecedented growth with RevOps?