There’s just too much to unpack from the reads I came across in August. Documenting right, actionable insights for long-term impact on revenue, evaluating your sales data for quality and diving into a more strategic role as RevOps, you name it! Some very important topics have been brought to light.
I present to you August’s content dynamite:
1. The RevOps Starter Pack: 7 Key Areas of Focus for Long Term Impact
New hires in RevOps are often confused about what the starting point is for them. Unlike other roles, you really can't put a ramp plan for RevOps as the nature of the operations role will involve a lot of reactive work.
But, just doing supporting work won't propel your role forward. You need to double down on key areas and solve them for a long term impact on the revenue. This blog post is a straightforward approach on areas of focus that you can actionize and implement.
2. 7 Things to Keep in Mind While Creating a Discount Policy Framework
When customers buy a SaaS product, they know better than to pay full price for it. Reps are very well-aware that they have to offer some discount.
So, they use it to their advantage to get the customer. However, without clarity on how much to discount, reps slash prices way too generously and it ends up damaging revenue growth and devaluing your product.
To avoid excessive discounting, create a discounting policy covering all the bases.
3. How to Set Up Compensation Plans for Your PreSales Teams?
As a career Ops person, one of the hardest things in compensation management is to arrive at an ideal PreSales compensation plan that all parties are aligned with. This is an almost impossible problem to solve.
This blog talks about the issues faced to keep things fair for PreSales and how to go about creating a compensation plan.
4. 8 Things to Review Before Accepting a Sales Commission Plan
Sales compensation was set up to ensure that reps are suitably rewarded for their performance. It started with a simple approach but today’s comp plans are anything but that. Plans have evolved over time and are becoming quite a gruelling code to decipher.
5. How to Use Data to Coach Your Sales Reps
When it comes to coaching sales reps effectively using data, it should be about how to coach reps as individuals based on their own performance at various stages in the sales process.
6. 5 Signs It’s Time to Improve the Quality of Your Sales Data
Consumers expect personalized experiences, light speed response times, and purchase journeys that remain connected no matter how many channels they cross. The only way to meet these expectations is to up your sales data game. However, the average enterprise is already drowning in data; what they’re missing is quality data.
7. Five Ways RevOps Can Streamline The Pre-Close Processes
As someone in a RevOps role, being involved in the sales revenue process like quota setup, attainments tracking, and forecasting gives context on the various risks deals might face before closing a deal. Simply documenting these risks and coming up with workarounds will help improve business predictability.
8. Headcount Planning: Choosing a Revenue Goal
Operations plays a vital part in giving the executive team the information they need to make a data-driven decision. You may need to proactively provide the data your C-Suite needs to advocate for an attainable number and communicate the current state of the market, the achievable market, and the costs that go into each tier of additional revenue.
If you’re not given that opportunity, your executive team will want you to follow the most common headcount model.
9. Refining Your Revenue Process with a Shared Source of Truth
You’d expect a shared definition between sales and marketing of what constitutes a lead—two teams directly engaging with potential new customers.Yet a seller’s definition of what makes a prospect a lead may differ from a marketer’s.
That rift leaves plenty of room for discrepancies, not to mention time squandered on surface-level debates on definitions and data. So, Revenue operations leaders are building these bridges today—by developing a shared source of truth.
10. Why RevOps Is the Perfect Proving Ground for Executive Leadership?
Many RevOps positions are being filled by veterans of Finance or Sales, Marketing, or Customer Success Operations, and each company seems to have a slightly different take on what exactly RevOps is.
What is consistent is that Operations professionals are constantly bombarded by tactical busywork and rarely are given the time to tackle strategic projects.
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