The startup life can be very exciting for its founders in the initial stages. Starting a business from the ground up is invigorating! However, the lifecycle of a startup is different than other types of businesses. Startups don’t often seek investors in the initial stages. This means financing and gaining revenue can be stressful at times, especially when the founder(s) are the ones financing the business.
For these reasons, in many cases they are strapped for cash and oftentimes have less revenue. The largest goal for a startup in its beginning stages is to acquire customers, build revenue, and increase profitability. Revenue Operations is a pivotal way to help a startup do just that!
Revenue Operations (RevOps) maximizes revenue potential by aligning marketing, sales, and service/support teams so that your organization can reach maximum optimization. Through this alignment, you can solidify your teams and please your customers.
RevOps quickly addresses the issues of disorganized teams, fragmented analytics, and worst of all, disengaged customers. To combat these issues, RevOps addresses needs such as:
RevOps addresses many key needs that in turn improves customer experience. Customer success is a pivotal indicator that can help your business understand your customer’s experience and lifecycle to improve it. Automating your processes and finding the right tools (such as HubSpot) can help your organization do this.
HubSpot is a CRM platform that has all the tools and integrations you would need for your RevOps mission. By utilizing the Marketing, Sales, and Service hubs, you can seamlessly implement RevOps into your organization and automate your processes.
RevOps consolidates the needs of marketing, sales, and customer support. By aligning all three, you can provide your customers with a positive experience from the first to the last contact. One way to do this is to migrate from the marketing funnel to the flywheel.
Marketing is the foundation on which your brand is built. HubSpot’s Marketing Hub allows your organization to enhance your marketing abilities in the following ways:
Sales merges the efforts of marketing with your goods/services to ensure your customers are getting the best experience. The HubSpot Sales Hub allows organizations to:
Data and dashboard creation is an inherently important tool in HubSpot. Dashboards allow you to track your organization’s performance from assets such as your website, landing pages, calls-to-action, and more. You can create a dashboard to analyze the data that you and your organization need. It’s important to know what your organization’s goals and best practices are to get the most out of your data.
As you know, RevOps maximizes revenue potential by aligning marketing, sales, and service/support teams so that your organization can reach maximum optimization. You may ask, “where do I even start?” Well, there are four phases to the RevOps journey to help you reach y our revenue potential.
Auditing the customer journey gives you the ability to assess if there are any disconnects between departments. The audit process consists of three steps:
After you determine if there are any disconnects between any departments and assess the customer journey, you will then want to move into the next phase which is to then define and align those lifecycle stages.
Just like the first phase, there are three key components to define and align the lifecycle stages. Let’s take a look at each step!
Once you evaluate your data and start to streamline your processes, it’s time to get down to the nitty gritty. This is where you are going to make decisions on whether you want to decide to build or restructure revenue-capturing items. Let’s take a look at a few:
Once you have your RevOps systems in place, it’s time to hit the green button and optimize! But how do you do that? We all know it requires more than flipping a switch to turn things on, so let’s take a deeper dive to see: