Forecasting 5 Things For RevOps In 2024

Yes, we admit that three things will remain the same for RevOps:

• Bosses thinking about what you might be doing all day
• The number of tasks will increase day by day
• Customers may change their minds even after asking for certain things to be done

We have felt the same way as you do. As those working in revenue operations, we have been frustrated on multiple occasions. But hey, once you come to think of it, your position is not that bad—you play a direct role in molding businesses as you have unique insights into the market. 

And yes, there might be cases where company executives decide to proceed with decisions based on their own whims rather than letting the data speak. The onus is on you to change yourself with the times by learning different skills that will be necessary for the future—regardless of what those in the higher rungs think. 

We will now look at how things have changed in 2023 and how one needs to adjust to these changes.

Changes in Go-to-Marketing for Businesses

Sales have always been prioritized more by leaders and owners of the B2B sector, as having a network is extremely important for the early stages of a business. Therefore, marketing has been given less importance.

Although things are certainly changing, sales continue to retain much of its importance. Networking still helps, as do referrals through word-of-mouth for products in complex domains. However, there is no reason to avoid the importance of surveys and other revenue operations tools in this particular space. 

These figures show why marketing should be given priority as well:

• The time spent with a sales representative is only 5% of a buyer’s journey
• If the digital sales chain cannot cater to the customer's needs, 90% of them will go with another company.
• Today, representatives are not preferred by 75% of the customers.

Business leaders who prioritize sales over marketing must consider these figures. Marketing can no longer be relegated to the margins—it needs to be paid attention to right from the start of the company's journey. There is no longer any scope for hiring inexperienced teams to handle social media on a low budget.

Leaders have to accept this new reality and perform. If they do not, the downfall is imminent. 

How does this affect RevOps?

Certain implications of this new reality are significant for RevOps. Many things have to be changed as early as possible in the company's journey. Conducting product-market fit analysis and linking revenue with marketing investment is extremely important for companies today. 

Allocating more resources to analytics is the need of the hour, as this will help ascertain whether the product is indeed worth the customer's investment. Customers' opinions should be taken into account, especially how they feel about the product's efficiency and profitability and why they may or may not continue using it in the future. 

Selling Will Only Get Tougher

Yes, you read that right. Selling or attainment is much more difficult in the market. In H1 of 2023, only a mere 27% of sales representatives could fulfill their quota, according to Pavillion research. This needs the immediate attention of business leaders. No one factor, like the recession, is to blame for the market's poor performance. 

Changes have come through because of our outdated approach to products. Only a small fraction of clients feel that the sales representative listens to them properly and understands their demands, especially in this day and age when products are highly complex. A sales manager is often provided with enablement support from a company at the beginning, but this will not do.

The salesperson often makes the first demo call from a company selling a complex product like software. This often does not meet the buyer's requirements. Therefore, it would be a better idea to follow up with someone from the technical team, like an engineer.

Enablement professionals who can do the following things are the need of the hour:

• Provide insights to sellers about key concerns and the important personas
• Illustrate how the products solve the fundamental problems
• Deliver training in sales methodology

The importance of marketing experts who work towards building a reputation by identifying the ideal customer profile and the personas who dominate buying cannot be understated. A digital process appropriate to this has to be created. Talented customer support personnel will also be needed to direct customers on return on investment and product value. This will take some time, but hey, remember that once you have built a reputation for the product, it will be far easier to navigate the market. 

What does it imply for RevOps?

Remember that SaaS buyer journeys are continuously changing today, as depicted in research by Gartner, along with tracking indicators like the cold email.

Startups & Fractional Leadership

Do not hire an expensive CMO or enablement guru after business leaders realize that investing in enablement and merely providing strategies will not work. 

However, remember this is an old practice that has continued for some time. Skilled leaders have been hired whenever companies need to do more specialized work or want to enhance their performance for something like a tradeshow.

These fractional services have increased by 57% since 2020, and for good reason. Now, no company, especially in its initial stages, has to go bankrupt to hire leaders who can provide guidance, given that the CEO or CMO really knows what they are doing. Yet, doing this is crucial because it may prevent a number of wrong decisions during a company's first steps.

What does RevOps have to do?

Marketing is thrown into a state of disarray when the leadership changes, as they have to reorient themselves with the key metrics that the new leaders are concerned about. Reviewing tool requirements and creating newer fields for selling methods are also needed. Instead of getting confused, draw out the latest and most relevant key metrics of go-to marketing and use them to prevent panic.

Don’t Confuse RevOps As SalesOps 2.0

Remember, we have to adapt to changes in buyer behavior as soon as possible. RevOps is no exception to this rule of thumb. 

Even today, huge variations exist within companies regarding their opinions about revenue operations or marketing . Different surveys have also illustrated this. 

Even today, there are organizations that do not have marketing departments! Some continue to view it as an advanced sales department. Some view it as a technically advanced supplement to the functional operations division. There are companies that still view it as a support system for go-to-market departments. 

Yes, we do think that marketing teams have to support go-to-market teams. However, if the company's leaders think otherwise, then it is high time for the marketing team to liaise with co-workers from the other departments.

To achieve accurate alignment between marketing, sales, and customer success, we are taking a more inclusive approach to its content and webinars, emphasizing the operations of all three areas. This decision is driven by a need to counter the historical bias towards sales operations and facilitate an equal exchange of ideas and insights across the entire revenue generation process.

Prioritizing Improved Analytics for All!

It is high time for businesses to start making decisions based on indicators and data. Gone are the days when leaders could make decisions based on their own intuitions or dreams. Data will help guide teams regarding when to continue or stop using a product, which will only be possible with regular data reviews.

Yes, no more assumptions can be made about what will work today based on what has worked before.

Business analytics should pay close attention to how each department contributes to the organization and reduce needless expenditures. The key driving force should be customer success in determining the value and return on investment of the product. The marketing team should be concerned with this.

In order to survive the cut-throat competition that dominates the market today, B2B companies have to have the best go-to-market teams. Professionals also have to meet the demands of the times, leave their cushions, and learn different things like KPIs and other skills to sustain the organization. Unless one changes and upgrades themselves to the changing demands of the time today, it will be tough to stick around in the long term. And we are here to help you help you survive in the best possible way in the market.

To Conclude

The modern business landscape is relentlessly dynamic and data-driven, requiring organizations to adapt and innovate quickly. The rise of RevOps signifies a shift towards a more holistic, data-backed approach to driving revenue and customer success.

As the market evolves, professionals must remain agile and open to learning new skills, such as understanding key performance indicators. By embracing these changes and prioritizing customer success, businesses can navigate this competitive terrain and remain sustainable in the long run.