Revenue Operations Is The Fastest Growing Job In America. So What Is Revenue Operations?

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by Lindsey Francy Mar 20, 2023 News
Revenue Operations Is The Fastest Growing Job In America. So What Is Revenue Operations?

The institute deals with revenue enhancement.

The fastest growing job in the US right now is revenue operations. Nobody really knows what revenue operations is. Few can say it's defined.

Our analysis of hundreds of RevOps job descriptions and discussions with over seventy Revenue Operations executives show that no one job description is the same. The conflation of a dozen or more functions and roles is described in Revenue Operations.

It might sound random. That is the main point of revenue operations.

The primary goal of a revenue operations leader is to unify and align the operations, systems, and data that support revenue teams along the entire revenue cycle. Digital, data-driven, and technology-enabled team sport is what will grow a business in 2023. A machine that uses customer data as gasoline, selling content as oxygen, and digital technology is being driven by B2B growth leaders. Customer data, digital selling infrastructure, and brands are the biggest financial assets of the company.

Running a growth machine that uses traditional marketing, sales, customer service, product, IT and finance functions is like driving an expensive racing car that is only firing on two cylinders and needs a wheel alignment. Customers won't suffer from being passed from disconnected marketing, sales, and customer success teams to the next team as they move along the revenue cycle. High selling costs, leaking revenue forecasts, and lack of customer expansion potential will not be accepted by investors.

According to research in the book Revenue Operations, the main reason why organizations are changing the way they lead and align revenue teams is because of that. There are blurred lines between these teams. The systems that support them are getting more connected. The marketing and sales technology stacks are very different. Customer data from websites needs to be merged with account data from Customer Success. The idea of a sales transaction has changed as businesses sell more than one type of product.

The revenue operations job function was created to align the operations, systems, data and processes that support revenue teams to get better control over the end-to-end revenue cycle. Leading companies redesign the role of operations that support the revenue cycle to create roles that have an expanded scope and mandate to accelerate revenues. The roles of revenue operations in large enterprises have been expanded to better manage commercial assets, operations and the customer journey across the enterprise. The systems that support the revenue cycle are being folded into a single leader. Affirm has put in place a Revenue Operations VP to report to the Chief Commercial Officer, who has incentive compensation as a direct report. Conga added sales operations, field operations, deal desk, and order operations as part of a RevOps Transformation initiative.

The Revenue Operations job function is moving in the job descriptions. As the revenue cycle is consolidated, the role is constantly evolving. According to Mary Lee, Senior Director of Business Operations at Lionbridge, revenue operations is the future evolution of sales operations. There is a continuum from sales operations to revenue operations. 15 years ago, sales operations weren't a thing. Reporting began. With the administration ofCRM, it expanded into technology We had to connect the two things. Marketing and sales technology had to be integrated. The sales team had to be changed. We have to make them want to work harder. The role continues to get bigger and bigger.

The destination is clear, even though job titles and the details of the role will vary over time. 5 core disciplines were used to evaluate all of the roles. The functions that support the revenue cycle are reflected in these five disciplines. They are able to grow customer lifetime value, maximize the return on growth assets, and accelerate revenues.

This is the first thing. It involves aligning the operations that support growth programs and enable human sellers along the entire revenue cycle and providing coherent management of all of the systems, assets, content, and digital selling infrastructure. Chris Thompson, VP of Global Marketing Operations at Conga, said that the need to align data and processes along the revenue cycle will lead to the consolidation of the marketing and sales operations functions. Sales operations, go to market operations, sales engineering and partner operations will be combined into RevOps functions in two years.

There are two To maximize coverage, control, and the return on assets by improving the speed, visibility, productivity, and engagement of front line selling teams, redesigning andOptimizing elements of the commercial architecture is included. The potential to double the performance of front line sellers is offered by using advanced analytics to challenge and improve assumptions about sales force emphasis, roles, workload, selling costs, and the mix, nature, and cadence of engagement needed to convert prospects to customers.

There are three. Commercial Insights involves using advanced analytics to turn customer engagement data into commercial insights that inform selling priorities, decisions, actions, and conversations. Pure Storage is trying to bring data from multiple sources to the forefront and are working more cross-functionally across their different operations organizations that support the revenue cycle. I can't have the marketing and sales views of the same data set. I need to have a single view of the whole thing. Everybody is operating off a single source of truth if that organization is brought together.

There are four. Building commercial capabilities that enable, develop and retain front line revenue teams and maximize their contribution to expanding customer lifetime value at every stage of the revenue cycle is part of commercial enablement. A key aspect of the job is to connect and align the sales and marketing systems that support the revenue cycle. According to research in the book Revenue Operations, 75% of organizations are asking their sales and operations teams to re-configuration their commercial technology investments with an eye for improving the quality of engagement and decreasing administrative costs.

There are five. Commercial asset management is the strategic management and monetization of the commercial technology, data, and digital selling channel assets to maximize their utilization, financial returns and revenue impact The average organization has many tools and services that support the revenue team. These are spread over a number of organizations. Capital and operating investment in this growing commercial tool portfolio is expected to exceed $10,000 per front line seller. The executive in charge of sales and marketing at the company doesn't talk about it much. The entire revenue stack supports the revenue cycle, which is why we talk about the unified commercial engine. We work on that.

The five core Revenue Operations disciplines expand into twelve separate job responsibilities. The faculty of the Revenue Enablement Institute has created a model for revenue operations maturity. The evolution of the revenue operations function is mapped by the plots of these capabilities. Business leaders can assess the state of their commercial transformation and identify the most financially viable way to jump start their organizations towards greater alignment of sales, marketing and customer success teams.

There are 12 job responsibilites that make up the revenue operations role.

The Revenue Enablement Institute Revenue Operations Job Specificaition Benchmark Report

Establishing a leader with a mandate to unify and coordinate sales, marketing and service operations will be essential to growing a business in the next decade

The challenge of getting sales, marketing and customer success systems, operations, and processes working together will not disappear because of the different title and job scope of the company. "There is a longstanding desire to create new positions with new titles to either attract talent, embellish a role with limited authority, or fundamentally realign different tasks and responsibilities." The change in strategic priorities, business operation realignment, and new tasks and responsibilities that the company did not have before are reflected in the name of Revenue Operations. For example, in many cases we are seeing marketers being asked to take on a bigger role in supporting development, activation and expansion capabilities and taking on a broader role in accountability as part of a revenue operations strategy.

Whether you are in marketing, sales, operations or customer service, revenue operations is important. Bob Liodice, the CEO of the Association of National Advertisers, says revenue operations is an essential career path for those who want to grow their business. Revenue Operations addresses the real world problem of growing a business by providing clear roles, structures, skills and systems leaders can use to manage, coordinate an align many disciplines coherently around. According to Warren Zenna, the founder of the CRO Collective, the revenue operations role has become a farm system for CROs because they have the data management, technical, and financial skills needed to manage the modern commercial model. It has been a career path in operations. Mary Lee has a front line operations role and she says revenue operations is important to her. My career path is what I choose.