It is true that RevOps has become the go-to business strategy for most growth leaders. It is easy to understand why: This holistic approach to revenue combines sales, marketing, customer success and finance.
Therefore, a well defined strategy helps companies focus on establishing intelligent businesses capable of making smart, data-driven decisions.
It is easy to talk about the advantages of adopting a strategy- Decision-making is faster, execution is easier and motivation is high owing to the new and exciting ways to do business.
You can read more about why it is important to take that first step towards RevOps optimization in this article- Understanding RevOps: What, Why and How?.
However, the reality of implementing a strategy comes with the challenge of building a team structure that can support this growth model.
The process of building a team structure becomes even more difficult when there are no established norms or a defined way to do things. To put it simply, RevOps teams look different at every other company. Even so, it is possible to identify best practices that support growth.
What does a RevOps team do, exactly?
Essentially, the role of a RevOps team is to oversee the RevOps strategy that your organization has adopted. This makes your team diverse, to say the least. This team is therefore the umbrella under which a lot of other go-to-market teams- marketing, sales, finance and customer service- function.
Together, the team is expected to maximize current revenue outcomes and build new opportunities for your entire organization.
More specifically, the roles and responsibilities of a RevOps team may include-
- Fostering a healthy collaboration across GTM teams
- Discussing strategy with those at the top
- Analyzing data that is made available (for example, regarding KPIs)
Who are the stakeholders?
While the revenue operations team structure may vary for each organization, there are some important roles that are almost always present in all teams. These include-
1. The C-suite- C-suite, or C-level, is a widely-used vernacular team describing the upper echelons of a corporation's senior executives and managers.
"C-suite" essentially refers to the executive-level managers within a company. Therefore, common c-suite executives include the chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO).
C-level members work together to ensure a company stays true to its established plans and policies. Without company leadership heading RevOps, it is likely that the strategy will be no less than a lost function, muddled by the other traditional departments.
2. VPs of Sales, Finance, and Customer Success-
Even though RevOps as a department is as different as it can be from traditional departments like sales, it is important that these departments be made stakeholders in this process.
Therefore, even if the senior level management in these departments are not a part of the RevOps team, it is imperative that their collaboration is sought.
3. Chief Revenue Officer-
A CRO becomes the pivot of the whole team structure. Typically, CROs are executives with 10+ years of experience across the roles and functions.
Factors affecting RevOps team structure-
1. Company Size-
Depending on the organization’s size and resources, a company may or may not choose to hire a dedicated brand new team. In this case-
- The team could be composed of in-house people
- A CRO may be hired without a team i.e. the CRO may collaborate with leaders of GTM teams
The company’s budget determines-
- If a new team can be hired
- The type of roles you can hire- entry or experienced
- Among others.
3. RevOps Maturity-
- In the early stages of maturity, focus can be on more crucial factors such as revenue visibility
- In the later stages, the focus can be smaller roles like support staff
How to build a RevOps team structure that works?
- Include all stakeholders- In the process of planning your new strategy or building a new one, involve all relevant stakeholders. This fosters inclusion and provides important perspectives.
- Appoint a good leader- A CRO is your best bet to lead RevOps! If you’re not hiring a CRO, then the CFO or the COO should be running RevOps. The important thing is to choose someone who has the experience, the bandwidth, and the willingness to handle this role.
- Conduct efficient hiring- With the help of your HR team, make sure you hire the right people. The hiring process should be efficient and should ensure that you get the right people on board to lead you to success.