RevOps for Any Service-Based Businesses

RevOps for Any Service-Based Businesses

RevOps or Revenue Operations can be intimidating if you are starting a business or your brand has been a household name within your area and now you’re trying to scale. Since we’re trying to make key information less complicated for business leaders (unlike what most business schools do), RevOps is simply Marketing, Sales and Customer Success working together with one goal: to increase the revenue of a business.

 

Here, we’ll talk about a high-level guide on how to optimise this process for Micro, Small and Medium-sized Enterprises. So whether you’re a founder of an SMB or a decision maker in Mid-Market, you’re in for a treat!

 

 

a. Strategy

 

Market fitting is the first step of every business and the easiest way to explain it is that every successful business starts with solving one problem. Even if the service that you have is state of the art, if your offer does not solve a problem, nobody will need it. And as we all know, if nobody needs it, even if you get to sell it once, repeat sales won’t just happen. Without repeat buyers, profitability is always a long shot.

 

Before we get to promote your business through marketing, you should know what message are you going to use in your go-to-market strategy which is the story that you tell prospects about why you started the business and where you want it to be. It is often titled Purpose, Vision and Mission on company websites.

 

 

b. Marketing

 

Some businesses do not require marketing like chemical waste management which will always have a demand but in this day and age, demand generation is just as important as demand creation. Sales & Performance Marketing (previously popular as Direct Response) are focused on capturing the demand to get people who need your service to buy now. Branding, on the other hand, creates the demand for your buyers in the future.

 

Depending on your industry or practice, marketing would usually be labelled as inbound. Lo and behold Lead Generation! Some see it as a Sales thing but most of the time, it’s a responsibility of Marketing. This is why marketing can’t be inbound alone. Because they have to bring in opportunities in the form of Leads.

 

Leads are acquired in two ways: through inbound content marketing; and through online and offline outreach which is outbound. Inbound requires a lead magnet to capture details such as email address and contact number. The best lead magnets are commonly newsletters, workshops, assessments, and e-books.

 

It is also important to make all of your accounts online introduce you by saying the same thing and of course, look good for a consistent brand identity. First impressions last even on the internet. The difficult part is, you might not have that much time to impress your potential customers so do it in 5 seconds or less.

 

Meanwhile, Outbound is done through direct messages on social media, cold calls, text messages (SMS), and networking events such as conferences and trade shows. It is a cold outreach for people you don’t know personally and a warm outreach for the ones you’ve already met before.

 

 

c. Sales

 

Once you have leads, aim for conversion. However, the most important part of sales lies in Discovery Calls/Meetings. This is not where you do hard selling and convincing. This is where you diagnose their pain points like a doctor and ask the right questions like a consultant. Study shows that the most successful salespeople listen more than they talk. When you get to make your prospect talk about their problem, you make them realise how much they need your solution.

 

The objective of all the questioning during the discovery call is to come up with evidence to tailor-fit a proposal. A strategy document specifically made for your prospect makes them think that you have dedicated time and effort for them. This will add to the reasons for them to reciprocate and do business with you.

 

 

d. Customer Success

 

If you’re a practitioner or an operator who knows the industry like the back of your hand, you can do the walk-through of the proposal and proceed to close the deal. If not, it is best to appoint an Account Executive or a Customer Success Manager who understands your prospects like a colleague.

 

If everything goes well and you’ve closed the deal, congratulations! Make the grandest onboarding. Delays in starting a partnership with you can make your client think more about whether the decision that they made is right or wrong. To provide a better Customer Experience, Identify quick wins and highlight them immediately.

 

Since you’ve taken care of conversion, you can now increase a client’s value to your organisation through “ascension.” This could be a constant resell, upsell or cross-sell. Once you have established a strong client base that is also growing in their respective businesses, internal sales alone can increase your profitability (not to confuse inside sales with internal sales as they are different). Like a lot of conglomerates, you can remain in business without acquiring new clients as long as your current clients keep doing business with you.

 

That wouldn’t be possible without underpromising and overdelivering. Keeping a feedback loop open whilst continuously improving your service and regularly reporting milestones with your clients won’t sound as dodgy when you request a 5-star review. You can also ask for a referral as they know that you are just consistently in touch with them whilst improving your service without any hidden agenda.

 

There you have it! A click-to-close-then-repeat process of RevOps. As an offshoring solutions company, we pride ourselves on remote teams who genuinely care about your partners and not just typical sales and marketing staff hitting their quota. If you’d like to learn how we do it, book a free strategy call with our experts on this link.

You must be logged in to post a comment.