By Emma Bennett
In customer experience roles, we have a lot on our hands. We’re busy answering client emails (yeah, they add up—I know we all have that “one” client pop into our minds), delivering results, and ultimately helping our agency meet its revenue goals. Sometimes it feels like we’re the first line of defense between churn and revenue—and we are.
Wouldn’t it be nice if there was a system or process that made our lives easier and aligned everyone’s goals? Not the “we’re all in this together” type of system, but something that results from the integration of your sales, marketing, and customer experience team.
It’s called revenue operations (RevOps), and it's not just jargon for the C-suite. It’s a business function that aims to maximize an organization's revenue potential.
What RevOps Is and Why It Matters to Client Services
RevOps is the strategic integration of sales, marketing, and service departments to provide a better end-to-end view to administration and management, while leaving day-to-day processes within the departments. The holistic approach of RevOps is designed to break down silos between departments.
As the frontline to your businesses, customer experience teams are the first people clients think of when it comes to continuing their business and upgrading their current contracts. The work we do is directly related to the success of our business.
Implementing a RevOps strategy gives you processes and strategies that you need to make everything run like a well-oiled machine.
What RevOps Means for Customer Experience
Anyone familiar with HubSpot over the last couple of years has been familiar with the change from funnel to flywheel. To keep the flywheel moving, you must reduce friction during the selling process, but also maintain that momentum with your current customers by negating friction during their experience with your brand.
The flywheel consists of setting people up, activating them, engaging them, and then referring them to restart the entire process. This notion is very likely the reason that RevOps has taken off.
Customer experience is solely responsible for the delight stage of the flywheel. There are two major factors that contribute to this:
It's 5-25 times more expensive to acquire a new customer than it is to retain an existing customer. Even a 5 percent increase in customer retention can increase company revenue by 25-95 percent. Lastly, happy customers are more likely to increase their retainers or spend more on additional services. They've learned the value of a product or service and keep coming back, again and again.
Your happy customers are more likely to sing a company's praises and refer their friends and peers, bringing in new customers without you having to go find them yourself.
Implementing a RevOps Strategy for Your Team
You’ve likely been tasked by your RevOps team to start working toward this new initiative, so make sure your team is aligned and you have the data you need to make strategic decisions.
Revenue operations is obviously focused on helping your company drive revenue, and at its core, it is also a way to solve for customer experience tribulations by reducing friction and increasing customer satisfaction. Now that you know how client experience teams can help RevOps, your next step should be to set goals to track your progress toward implementing RevOps throughout your company. To learn more about establishing the right goals, check out this article!