Many small businesses tend to understaff their front lines, which prevents employees from getting the support they need and causes bottlenecks in how work gets done within an organisation.
As a company starts to grow and you begin hiring new people, it's essential to work on two operational factors that can enable your success - RevOps and enablement. These two are different sides of the same coin; without one, you can't reach your maximum potential in the other.
If you want to increase efficiency, boost employee engagement, and improve productivity at your company, it's important to start working on revamping both your RevOps and enablement programs from the beginning.
What is revenue enablement?
Revenue enablement is the process of empowering GTM teams with the tools, resources, and knowledge they need to be successful. When done correctly, it can help teams close more deals, increase win rates, and boost customer satisfaction.
According to a 2021 Benchmark Report, over 95% of companies have built dedicated revenue enablement teams, and 70% report that this has become one of the most critical aspects of their sales strategy. The problem is that many executives still don't understand what it means for their business and how important it is for scaling their success in future years.
They know about it but think it's too expensive or not worth the investment because their people are doing fine without this training. These leaders don't realise those exemplary employees will eventually hit a plateau, and growth will slow down dramatically.
GTM team members need support and guidance at every stage of their careers - from understanding company objectives to improving their skillset and closing deals to continue growing their business while helping grow yours.
The benefits of revenue enablement
Revenue enablement helps close more deals by providing sales reps with the resources they need to be successful. Additionally, it can help shorten sales cycles and improve win rates.
But according to a published Hubspot study, almost 40% of sales heads did not meet their goals for the 2021 fiscal year. The obvious reasons for this are inadequate enablement, poor selling climate, and difficulty in improving and revamping the sales processes.
A fundamental understanding of your process is vital to identify areas that need improvement. RevOps (revenue operations) offers an opportunity to track metrics and identify opportunities for improvement in the process and is vital in the operational efficiency and effectiveness process.
In addition, a customer feedback loop provides customer input on how well your company fulfils its commitments—a crucial aspect of revenue operations. Once you have identified an area of improvement or bottleneck, you can pinpoint a solution and make changes accordingly.
How revenue operations focuses on process improvement
People have always been looking for ways to improve efficiency and effectiveness in business. That's where revenue operations comes in.
Revenue operations focus on process improvement - ensuring that the right people have the correct information at the right time to make the best possible decisions. It enables your organisation to respond quickly and strategically to new market trends and opportunities.
In a world of uncertainty, it becomes even more important for organisations of all sizes to invest in enabling their workforce with powerful insights into customer needs to deliver compelling products and services.
Without these insights, you risk falling behind the competition or, worse yet, missing an opportunity that could lead to long-term success! But not just any insight will do; successful insight-driven businesses know how to focus their resources on what matters.
Efficient Cross-Functional Alignment
If you want your company to scale, it's crucial to have efficient cross-functional alignment. What does that mean? It means that all the different departments within your company work together towards the same goal.
Bringing the elements of revenue operation and revenue enablement together will ensure your business can grow efficiently.
Companies that don't have these processes working in sync with each other are bound to expect up to five times lower revenue growth and doubling down productivity in half for new sales reps. This can also be translated into a roughly $110k loss per lost sales rep.
For example, a recent study showed that companies that offer excellent customer service have three times more opportunities than those that do not. A Gallup study also found that when companies empower their employees to act on behalf of customers, they see a 20% increase in sales and a 21% increase in profit.
The bottom line is that if you want to build a successful organisation, you must invest in the people who make it happen.
The Role of More Effective Sales Hiring
Scaling your business can be a daunting task, but with the help of RevOps and enablement, it can be much easier. RevOps stands for Revenue Operations, and it's a relatively new field that's gaining popularity.
Essentially, it's all about aligning your sales, marketing, and customer success teams to work together towards common goals.
This alignment is crucial to scaling your business effectively. Customers don't want to work with more than one person from each team, and you want your team members to talk to each other instead of siloing their efforts. With RevOps in place, you can ensure that each team member knows what their colleagues are doing - and why.
A great way to get started is by implementing or improving your CRM system with several integrations for these departments: marketing automation software, lead management software, email service provider, or outbound call centre management software.
Better Sales Training
Sales teams are the heart of every company. Without a strong sales team, generating revenue and scaling your business is nearly impossible. That's why investing in revenue operations and enablement is so important.
For example, one way to do this is by using better tools that help you automate time-consuming tasks, like data entry. These new tools can also allow for remote management so that you don't have to have someone on-site 24/7.
Using these new tools will save time for the sales reps and the admins who manage them. They'll be able to focus more on closing deals while still taking care of other essential administrative duties. With these improvements, they'll be able to spend more time focusing on what matters most - sales.
Focus on improving customer satisfaction using enablement tactics
Customers are the lifeblood of any business. Keeping them happy should be a top priority for any company that wants to scale and be successful. By improving customer satisfaction using enablement tactics, you can create a virtuous circle of growth for your business.
More and more companies are taking the time to cultivate good RevOps and enablement programs for their employees. Revamping your company's operations in this way is becoming non-negotiable, just like having a content marketing program or a social media strategy in place.
To ensure your business keeps growing and stays successful, you'll want to start thinking about these things today.
Does your organisation have an effective RevOps and Enablement strategy?
If you're ready to take your business to new heights, contact us today and let us show you what we can do.