ReveNEWS: The RevOps Newsletter - April 2023

Welcome to our monthly newsletter where we share resources, trends, insights and practical RevOps advice for leaders in marketing, sales and revenue operations.

In today’s edition: The Effect of Bank Failures on Revenue Operations, Insights on Account Based Marketing, Best Practices for Campaign Frameworks, and more!

RevOps Resources – The Effect of Bank Failures on Revenue Operations

With SVB failing, lots of companies were and will be impacted, putting more pressure onto operations as cash flows disappeared overnight. Even with the FDIC securing those deposits, operations is going to get a lot tighter for the fear of losing money again.

I also think this means that PE firms will start looking at high-burn startups as risky investments. If you’re a high-growth startup, now is the time to examine your overall cashflows along with your burn rate and what you’re getting for your investments.

Learn more:

1. https://www.theinformation.com/articles/private-equity-giant-talks-to-vc-firms-about-svb-bid
2. https://www.bloomberg.com/news/articles/2023-03-13/svb-bank-failure-exposes-tech-s-venture-capitalists-to-huge-financial-risk#xj4y7vzkg
3. https://hyperscayle.com/insights/revops-in-down-economy

Who to Follow in RevOps

Darrell Alfonso – Director of Marketing and Strategy at Indeed

I like this simple summary post from Darrell. In uncertain times when people are trying to cut money and reduce spend, software/tool spend is one of the first places people look.

When thinking about reducing marketing and sales software spend, start by looking at tools that either overlap, or tools that are not being used effectively.

In our work we see this all the time, when companies invest in new tools but they never implement them all the way. There are a lot of things you can do to reduce cost and become more efficient, but it’s always important to have a strategic view to how these tools combine to support an optimized revenue operations process.

RevOps Insights – ABM

Somehow, it’s already Q2, which means everyone has returned from their Sales Kickoff meetings, and now we are in the middle of April. The big question now is how everyone is building pipeline and moving deals closer to the finish line. The next big thing everyone looks at is the funnel and how bad its leaking, in theory.

And undoubtedly, many sales and marketing teams are looking to Account Based Marketing (ABM) to help address their challenges. ABM has been a big buzzword with marketing and sales leaders for the last ten years, but ABM still fails most of the time.

Why?

And what can marketing, sales, and revenue operations leaders do about it?

There are a lot of articles and resources out there already on ABM strategy, so that’s not what this article covers. Instead, I want to provide some practical advice and ideas about how to reframe your ABM strategy and model in a way that I’ve seen produce some great results.

RevOps Pro Tips: Best Practices for Campaign Frameworks

Having a hard time managing and measuring your campaigns? One of the big things people miss all the time is having a campaign framework in place to logically group campaigns and attribution. If you don’t have this in place, you won’t be able to measure your ROI on your campaigns.

While there’s no exact perfect way to develop a campaign framework, having one in place is a no-brainer. (Otherwise, you could be wasting time and money throwing marketing spaghetti at the wall.) That being said, we do recommend a few best practices that work well for most organizations:

1. Prioritize sales and marketing alignment. For optimal success with any marketing campaign, sales and marketing must be on the same page and pushing the same agenda. Marketing and sales leadership are critical to making sure their teams are aligned.
2. Focus on internal communication and enablement. From marketing to sales to customer success (and beyond), internal teams should be informed about the current campaigns running and be enabled on the strategy and messaging. Everything the team does should roll up to the appropriate theme.

For a full list of best practices, check out this article from Hyperscayle that talks about campaign frameworks: https://hyperscayle.com/insights/campaignframeworks

What RevOps Means to Me (Nick Rose)

RevOps means a lot of things, and unfortunately it is a buzzword that gets thrown around a lot and often doesn’t meet expectations.

The companies that succeed in their RevOps initiatives are those that build an understanding of all the operations that fall from marketing through customer success.

If you are able to group these functions together, the power you gain to drive revenue through that lead to cash cycle can be tremendous. As leaders in marketing and sales operations, we are always trying to break down silos.

So in short – RevOps to me is operations without silos.

Share the RevOps Love!

Like what you read? Please share with other like-minded leaders in marketing, sales and revenue operations.?