Feb 16, 20228:48 PM - edited Feb 23, 202210:15 AM
HubSpot Employee
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
There are three core elements to any RevOps strategy:
Implementing systems that will collect the data you need to identify your company's opportunities for growth.
Communicating those opportunities to company leaders and committing to a plan that addresses them.
Aligning the relevant teams around shared metrics and goals that support the plan.
When you first start implementing systems and analyzing data, you'll likely identify many areas that can be improved.
In some cases, you’ll have a clear sense of which areas are most urgent to address, based on the overall goals and needs of your company.
Sometimes, though, you’ll find several opportunities that are equally worthwhile.
If you aren't sure where to start, look at problems that can be quantified. Quantifiable problems lend themselves to clear goals and measurable progress.
So, here’s what I’d love for you to share in the comments:
What is a problem you are facing in your company that you can explain qualitatively but not quantifiably and that you would love to hear from others how they might quantify that problem?
If you see someone’s answer to the question above and have an idea about how they could quantify their problem, share your advice with them in the comments so we can all learn from you!
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
I would start with the most quantifiable metric: revenue ($). This includes examining overall sales trends, particularly any declines, and diving deeper into key performance indicators such as:
Number of sales/deals closed
Value of closed deals and time to close
Customer renewal rates
Percentage of repeat customers and their spending growth
Sales rep performance (ratio of closed deals)
Pipeline status distribution (percentage at each sales stage)
Conversion rates from marketing efforts to sales stages
Status age for each sales step
All these metrics should form a cohesive narrative. However, I would pay particular attention to any sharp changes or anomalies in the data trends, as these often signal potential gaps or issues. Misaligned trends are crucial to investigate, as they can reveal inefficiencies or missed opportunities. While anomalies are often statistically dismissed, they can sometimes point to overlooked revenue growth opportunities. I would evaluate these discrepancies in the context of resource allocation and outcomes to better understand their implications.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
Use both leading indicators for pipeline health, and work closely with enablement for lagging indicators. Evaluate weekly and make adjustments quarterly.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
Before this course, I had tough time explaining why the Marketing emails reaching right audience plays a vital role in upscaling the business, I have had trouble communicating that strategizing the Sales qualified leads and having an SLA. Most importantly I joined the company as a Data Analyst and realized the lack of dedicated Operations team to streamline the processes, and I filled in the gap help fix the gaps. Given an opportunity I would have explained the value addition that I was making but I was always assumed to be a basic Report-designing person for leadership whereas people in ground level would rely on my inputs. The leadership was not patient enough to learn and I was not effective enough to convey in the same language that they would understand (accounting). I think more effective way to learn to quantify those KPIs would have been great.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
Customers are always happy with the price and service we provide, my problem is i think we are missing out on customers recommending us to their network after being satisfied with the service recieceved, how do you measure customer recommendations to their network if possible, not customer feedbacks or recommend a friend offers as we can track these already more like a listening ear to hear who's recommending you on social sites
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
At a point of time, the some of the demos were not coverting int sales and the number of this issue is increasing month on month. Even the demo from a experienced sales guyis not getting converted into sales. We has brainstorming session about this issue and asked ourself a question that, why these customers signing up for leaving like this, does the quality of our product is very low ? etc.
IF we dont have any issue with demos then it is time to lookup into the inside sales team.
After some approvals, we had access to the call recordings of the inside sales team for the past 3 months. Two newly joined people actually making calls to the prospects and pushing them for the demos. They actually thought that only demos and dont care about the actual conversion into sales.
The persons were identified and we escalted the issue with the higher management. This issue was addressd wiith the inside sales team members and furher followup after demo and also after sales was made mandatory for all the agents.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
Our company was experiencing customer dissatisfaction, and there's a sense that the overall customer experience was not meeting expectations.
To quantify this problem, we implemented customer satisfaction surveys with specific metrics and analyzed the quantitative data from these surveys, which in fact provided more clarity on the areas that needed improvement.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
What is a problem you are facing in your company that you can explain qualitatively but not quantifiably and that you would love to hear from others how they might quantify that problem?
One issue that we are constantly facing is the drastic drop off of our leads towards the end of the funnel (post-product demonstration and before closing).
We quantified these into conversion rates, but weren't able to really lock down the underlying factors that contributed to this low conversion rate. This could be due to the steps of the process not being segregated properly, or issues created earlier on in the pipeline such as outbound lead generation.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
Some examples of how I'd evaluate and iterate on my RevOps strategy in a quantifiable way.
From the marketing area, some might be 1. points of friction in the customr journey from when they land on a webpage, how many clicks before they can have a demo scheduled? 2. drop-off rates, bounce from webpage From Sales: 1. the length of time an average deal takes from one stage to another stage in the buying process--the velocity. 2. the win-loss ratio of closed deals. From Customer Success: 1. Turnaround times to handle and resolve support calls from customers. 2. Percent of accounts that have added services to their original purchase, upsells. From RevOps 1. Lower CAC. 2. Increased operating margins.
How do you evaluate and iterate on your RevOps strategy in a quantifiable way?
What is a problem you are facing in your company that you can explain qualitatively but not quantifiably and that you would love to hear from others how they might quantify that problem?
Our constant issue is that students wait long time for a group to begin their clasess because we need to complete at least 4 students to open a group. Sales team is constantly selling places but not focusing on the current groups we have but on creating new groups, which we already know they need to have the right amount to begin, that situation normally is abandoned, turning into a request for a refund.
If you see someone’s answer to the question above and have an idea about how they could quantify their problem, share your advice with them in the comments so we can all learn from you!