RevOps Is the Life Jacket If You’re Drowning in MarTech

Marketing and Sales have spent the past two decades investing in mountains of technology to drive more revenue, faster.  This has fueled the MarTech category explosion and financial bonanzas for vendor unicorns and those acquired at heady valuations.

Yet Marketing and Sales remains grossly inefficient.

There are several reasons for this including that technology has reinforced, not torn down, organizational and data silos.  MarTech categories overlap resulting in redundant functionality yet leave significant gaps. The result is a complex patchwork of capabilities leaving the core objective – faster, sticker, more predictable revenue – elusive.

Add to that the pervasive mismatch between positioning and actual capabilities, especially in the name of ‘customer experience’. And then there is the persistent data integrity problem that plagues just about every company.

Also Read: What’s Going to Keep CMOs Awake at Night in 2019

We’re in this situation because we’ve been approaching efficiency gains from the bottom-up. Things will not change until we start addressing the problem from the top-down. No amount of feature/process level fiddling and hyper-automation will yield what we seek. The missing link is the codification of context setting strategic plans that guide investment, business process design, automation, and metrics.

The good news is a handful of vendors are introducing solutions that capture the bigger picture in a framework that provides context for the rest of the Martech stack.

One of the most critical strategies in an organization is the annual go-to-market plan. It is the agreed upon growth plan of how, where, when and who is accountable for what.  Every organization develops one. Go-to-Market plans are defined at a high-level and supported by functional plans including sales compensation, marketing plans, etc.  The challenge is sticking to the plan and reporting against it.  Too often teams forget the details of the plan. Countless cycles are spent on figuring what was agreed to and who didn’t do what instead of evolving the plan based on insights gained from cross-functional metrics and analyses.

Also Read: Make Your Marketing Great

One company, LeanData, is actively addressing this need and created a new market category – RevOps.  SiriusDecisions defines Revenue Operations as an emerging go-to-market paradigm ‘bringing the operational work of sales, marketing and customer success together under one roof’.

“Companies have all these tools to achieve revenue and coordinate activities but aren’t orchestrating all the touches,” said Karen Steele, CMO of LeanData. “RevOps unites finance, business operations, sales and marketing ops functions through one platform to plan, execute and measure revenue activities, specifically Go To Market.”

As a serial CMO, it always made sense to combine Marketing and Sales Ops. The insights were more meaningful and I want happy to give that function to Finance. Having it report into Sales or Marketing tainted the analyses’ credibility; Finance’s neutrality and comprehensive view of the organization’s performance strengthened the Ops team’s impact.  It made my day to hear from Steele that customer RevOps teams are starting to report into COO or CROs and, in LeanData’s case, to the CFO.

Revenue Ops solution sits within an organization’s CRM and fixes a key weakness preventing greater unity between sales and marketing ops – inaccurate and fragmented silos of data across the Martech stack enabling customer touch points to be rationalized, optimized and personalized.

RevOps won’t magically fix poorly designed processes. It will, however, put sunshine on them so they are addressed. Efficiencies are gained from actionable insights into revenue cycles ‘line of sight’, customer journey alignment, organizational productivity, and ROI analysis based on organization-wide data.

LeanData’s approach underpins and aligns the Go-To-Market strategy. The fact they already have mastered consolidating, enhancing and maintaining data from multiple disparate source makes RevOps a logical next step.  Welcome to the ‘Needle Move Club’, LeanData, and redefining Martech’s future.

First published in MarTech Advisors

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