RevOps within digital marketing is on the rise – rapidly becoming an established norm when it comes to internal operational management. What exactly is meant by RevOps? A contraction of “Revenue Optimisation” this term refers to an operational model designed to ensure that a business’s capacity for revenue generation is maximized. As ever, our integration partner HubSpot has some excellent resources to help you learn more about this model.
A RevOps approach seeks to instill full cooperative alignment between alignment of marketing, sales, and customer service teams. Rather than operating in isolation, before passing off a lead or established customer to the care of a separate team acting in isolation, a “flywheel” model is established. All teams work in closer collaboration, with a focus on end-to-end customer experience, seamless workflows and integrated systems. This removes friction and supercharges a business’s ability to scale.
In the case of digital marketing agencies, the benefits of an active RevOps strategy are twofold – better internal agency collaboration and outcomes, at the same time as improving client satisfaction and success. Within this article, we’ll outline some of the ways in which RevOps looks set to improve the landscape for digital marketing agencies today, and in the years to come.
RevOps For Digital Marketing Agency Internal Alignment
RevOps can be implemented to help to bring a digital marketing agency into better internal alignment. Within the traditional RevOps model, accountability stops becoming a siloed practice. Instead, your account managers and support team gain better “full picture” insight into client success, measured across a wider range of metrics and markers.
The cyclical RevOps model means that this improved insight feeds back into sharper, more accurate marketing recommendations for clients. In turn, this helps to build up a more holistic understanding of the way that different agency teams collaborate and depend on each other’s outcomes.
For example, marketing team members learn about common pain points and blockers from the sales team, and are able to incorporate this into their own planning going forward.
Improved Digital Marketing Sales Attribution
Knowing exactly where your success is coming from is essential within the setting of a digital marketing agency. By helping bring clarity to a dynamic process that relies upon the input of many different teams and individuals, RevOps can help improve attribution when it comes to sales success.
Everyone working towards your clients’ success will have a better idea of what’s working in the context of “the bigger picture.” This does more than simply helping you work out more productive, collaborative workflows – it can also have a really positive impact upon team cohesion and motivation.
Digital marketing agencies are always on the lookout for ways to improve their marketing sales commission structure – by making it more efficient, more commercially appealing – or, most probably, all of the above! By adopting a RevOps model, you can apply the deeper insight gained into the roles that everyone played towards a closed deal, and translate this into a fairer compensation structure.
Multistage commission is a great way of ensuring that everyone involved in a deal is getting fair payment for their contribution, in a timely fashion. Commissionly’s multistage commission feature enables you to pay commissions at different stages of your sales and delivery process to different payees – keeping your teams motivated with well-timed, fair compensation for their input.
Enhanced Client Experiences
The RevOps model is increasingly commonplace across a wide variety of client or customer based businesses. As a result, by adopting these principals internally, you’ll be able to “speak the same language” as your clients, who are more than likely very familiar with the benefits of such a model, and putting them into practice within their own businesses.
This helps to build trust and increase the likelihood of cross selling and upselling, as you gain a better understanding of their pain points and business models – and, perhaps most importantly, see how your input as an agency sits within their wider business model. An active RevOps strategy also helps to demonstrate your interest and commitment to your clients’ end results, through better account expansion and improved customer-focused campaigns.
Once established, a RevOps model just gets better over time. Thanks to its cyclical “flywheel” structure, improvements feed back into the start of the process. Client experience is improved in a way that is consistently demonstrated over time – no quick fixes or emergency measures – just a great, holistic agency experience.
Eliminated Tech Silos
The smart leverage of data is essential to success within a digital marketing agency environment. With the rise of MarTech, this is becoming increasingly essential, as a wide variety of tools give us insight into our campaign and client success metrics.
By combining marketing and customer success data, RevOps enables you to see which campaigns are resonating at the same time as highlighting the elements of your marketing mix that are having the greatest impact in terms of the outcomes clients are looking for.
As an agency, you can leverage this insight to improve post-purchase marketing experiences (i.e. offering your clients more than just lead generation or traffic.) Data can be put to use shortening purchase cycles and accelerating sales. Commissionly is a great example of a solution that can help to power a strong RevOps strategy, allowing easy integration with a huge range of CRMs to ensure that you’re able to easily join the dots between client success and team commissions.
Improved Agency Success Metrics
Finally, let’s not forget the tangible lift that RevOps can bring to a business in terms of success metrics. In 2020, the Boston Consulting Group found that B2B companies implementing RevOps accelerated their revenue growth and operations efficiency with a
- 100% – 200% increase in digital marketing ROI
- 10% – 20% increase in sales productivity
- 10% increase in lead acceptance
- 15% – 20% increase in customer satisfaction
- 30% reduction in expenses
This is especially important and relevant within a digital marketing agency context, where businesses are typically looking for long-term, steady accounts that are retained with minimal effort, allowing for customer relationships that continue to grow and strengthen over time.
RevOps For Digital Marketing Agencies: Get Ahead
RevOps represents a real opportunity for digital marketing agencies to improve outcomes and streamline their internal processes. More effective interdepartmental communication leads to better collaboration and attribution of success.
By pairing a solution like Commissionly alongside the RevOps approach, you can ensure that all effort is appropriately rewarded, showing your respect and appreciation for multiple agency teams, pulling together to help bring your business great results.
With a focus on streamlining customer experience, and allowing for better personalisation at every stage of their journey, it’s no surprise that RevOps is increasingly being heralded as the secret to account-based business success. Digital marketing agencies have so much to gain from his model – especially when it comes to marketing sales commission structure, and motivating a commission-based workforce to see the bigger picture within an agency environment.
Looking to kick sales up a gear? 5 Tips For A Highly Motivated Marketing Sales Team – See our next blog …