Revenue Operations (RevOps) is already a well-established business driver for software companies, and it offers a new optimization opportunity for manufacturers. That’s because manufacturing companies put a lot of time and effort into shop floor optimization, but not as much focus on optimizing and aligning sales and marketing processes.

Ready to focus on maximizing the efficiency of sales teams, understanding the ROI of marketing decisions, speeding up contract renewals, and creating accuracy and trust in marketing and sales data?

That’s where RevOps shines.

Read on to learn more about what RevOps is, some practical use cases for manufacturers, and a framework for how to apply RevOps to drive value.

What is RevOps?

Hyperscayle defines revenue operations as the design and execution of Go-To-Market (GTM) processes and systems across the lead-to-cash lifecycle. This includes marketing, sales, customer success, channel, and finance operations. In an optimized, holistic view, these functions are NOT silos bolted together, but rather as steps of a unified process.

What are Some RevOps Use Cases for Manufacturers?

There are dozens of RevOps use cases that provide incredible business value for manufacturing companies. Here are just a few:

• Process Visibility: Manufacturers put a lot of effort into creating visibility into manufacturing processes from “tooth to tail.” RevOps lets you see your go-to-market process holistically in the same way. This means you can focus on improving overall sales and marketing process and outcomes instead of getting lost in the nuances of specific parts.
• Dynamic Price Adjustment: RevOps provides a structure for understanding how different manufactured parts perform at different price points. Worried that your transducer assemblies aren't selling? A good RevOps function provides always-on visibility to offered sale prices across all quotes/bids, and the actual prices parts sell for, so you can dynamically adjust pricing.
• Remove Bottlenecks from the Go-To-Market Process: RevOps is the bridge for using financial data to make better business decisions. You can take hard account data (production costs, labor costs, shipping fees, etc.) and layer it against nuanced sales and marketing data to find the true bottlenecks in the process and clear them.

A RevOps Framework for Manufacturers

Here are five areas to consider, along with some initial questions to help you assess your current RevOps maturity.

1. Leadership Alignment:
   This is all about making sure your RevOps team is equipped to be a force multiplier for your leadership team’s strategy. Your GTM efforts should be guided by a well-formulated plan that includes actionable and structured reporting.
   
   How aligned is your leadership around RevOps? Ask yourself:
   1. Do you have clear goals for marketing, sales, and customer success?
   2. Do you have separate marketing ops and sales ops functions?
   3. Do you have access to accurate, timely marketing and sales data for annual planning?
2. Process Definition:
   When it comes to shop floor optimization, manufacturers are great at putting “process first.” The same rigor must be applied to marketing and sales optimization. Getting good at RevOps is less about the CRM or marketing automation tool you choose and more about making sure the right business processes are in place first.
   
   How consistent are your RevOps processes? Ask yourself:
   1. Are consistent processes documented and used across go-to-market teams
   2. If there’s a problem with a step in your lead-to-cash lifecycle, how do you find it? How do you solve it
   3. How do new team members learn your GTM processes?
3. Team Structure:
   People make RevOps happen, but it’s tricky to structure high-performing Revenue Operations teams. It starts by deciding how large a team you need and whether they report to the CMO, CRO, or IT leader. Will you build out a complete RevOps team in-house, outsource your RevOps function entirely, or something in between?
   
   How do you build the ideal RevOps Team for your unique needs? Ask yourself:
   1. Does your RevOps team have expertise to support leaders in sales, marketing, customer service and finance?
   2. Do you have a centralized RevOps function, and where do they report to?
   3. Do your marketing and sales teams take an agile approach to projects?
4. Systems & Tools:
   These are the systems your GTM teams uses every day to do their jobs. Marketing automation and CRM are of course some of the most important, but there are other important categories as well such as Data Enrichment, Data Orchestration, Sales Enablement, and Middleware/Integration software. 
   
   How do you know if your RevOps tech stack is optimized for you? Ask yourself:
   1. Do you have the right CRM in place for your business needs?
   2. Do you have the right marketing automation tool in place for your business needs?
   3. Are your key RevOps systems integrated?
5. Data Foundation:
   Last (but certainly not least) is the state of your RevOps data, and whether you have an agreed-upon single source of truth. The adage “garbage in, garbage out” certainly applies to RevOps, and it’s common to know you have a data problem, but delay addressing it for multiple quarters or even years. 
   
   Do you have a fundamental RevOps data problem? Ask yourself:
   1. Do you have a data strategy for your GTM organization?
   2. What’s your system of record for your GTM data?
   3. Do you have a strategy for removing duplicate data?

Getting Started with RevOps for Manufacturing

RevOps represents a huge opportunity for manufacturers who want to remove waste and optimize GTM processes with the same rigor they give to the shop floor.

Your sales reps and marketing people know your business, your industry, and have established relationships with prospects and customers. Arming them with the right technology and process is a huge force multiplier, enabling them to be far more productive and enabling the business to scale their teams in a consistent way as the company grows.

Learn more at www.hyperscayle.com.