A company is committed to delivering value to its clients—both in terms of customer service and financial performance. As a result, revenue operations are one of your core initiatives for this year. Revenue operations is an emerging discipline that allows B2B companies to optimize their revenue function by combining people, processes, and technology. After all, it’s not enough for sales and marketing teams to simply be aligned or for data quality to be high—those are each valuable component of revenue ops but can’t exist in a vacuum. For revenue ops to operate at their highest potential, alignment is needed across the entire organization. 

Align goals and objectives of the sales and marketing teams

A revenue operations team should help sales and marketing align their goals and objectives so that they’re working towards a common purpose. For example, you might want to work with your sales team to measure the effectiveness of different campaigns in bringing customers into your funnel. Then, you can use this information to inform decisions about which types of ads are most effective for future campaigns.

In addition to helping meet the company’s overall goals, this kind of collaboration between sales and marketing teams can help increase motivation among employees on both sides of the aisle. Employees who see that their contributions are making an impact will feel more invested in their jobs and more motivated by them as well.

Establish a single source of truth for all revenue data

Establishing a single source of truth for all revenue data is essential to managing your revenue operations. A single source of truth provides the foundation for efficient and accurate revenue reporting and analysis, improves data quality, ensures data integrity, and promotes consistency across multiple systems.

In addition to reducing costs associated with manual reconciliation processes, it helps ensure that you can access the most up-to-date information at any time. This means faster processing times and improving service levels by providing timely access to accurate information in real-time. By establishing one database as the authoritative source for financial transactions, departments can work together more efficiently while reducing errors in reporting/analysis due to conflicting data sources/multiple versions of the truth.

Define operational processes that connect your entire organization

To begin, address a key question: What is success? This may seem obvious, but it can be tricky to define without being too vague or overly ambitious. To help you, think about the problem your team faces and what it would look like if solved. The goal shouldn’t be to “make more money,” for example; that’s not specific enough and doesn’t have any real targets or milestones attached. Instead, focus on creating clear goals for yourself as well as your team.

Your next step is setting up a system that allows every member of your organization to see how much revenue they’re bringing in—and whether or not that number is growing over time—so everyone understands what their jobs are contributing toward the overall goal of growing revenue by X percent each month/quarter/year. With this foundation in place, it’ll be easier for you to set an achievable target while also pushing yourself out of your comfort zone when necessary.

Conclusion

The key takeaway here is that revenue operations will help your sales and marketing teams work more effectively. When you align the goals of your two teams and when everyone speaks the same language, you’re going to be able to accomplish much more. Not only will this help everyone contribute better to the overall business, but it will also make things a lot easier on you.