Revenue Operations

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Stephen Diorio. Revenue Operations

Table of Contents

List of Illustrations

Guide

Pages

REVENUE OPERATIONS. A NEW WAY TO ALIGN SALES & MARKETING, MONETIZE DATA, AND IGNITE GROWTH

Acknowledgments

Introduction

Marketing: Increasing Ambiguity

Sales: Rising Complexity

Service: Progressive Emergence

About Our Research

The Bottom Line

CHAPTER 1 Take Control of the Revenue Cycle. Introducing Revenue Operations, a New Way to Create Sustainable, Scalable Growth

How Is Revenue Operations a System for Growth?

The Financial Link Between Firm Value and Growth

Real-World Problems Cross Organizational Boundaries

The Role of Insight in Value Creation

Intangible Assets as the Foundation for Growth

The Challenges of Growth in the Twenty-First Century: Customers, Disruptions, and Fragmentation

The Challenge of Managing 4D Selling Systems. How Digitally Enabled, Data-Driven, Dynamic, and Geographically Dispersed Revenue Teams Are Changing the Way We Manage Selling Systems

Twentieth-Century Tools Are Obsolete

The Role of Leadership

CHAPTER 2 Create Value and Impact from Revenue Operations

How Revenue Operations Creates Value

Eight Ways Revenue Operations Creates Financial Value

The Change Management Hurdle

CHAPTER 3 Understand Six Pillars of the Management System

Commercial Leadership That Unifies Marketing, Sales, and Service

Commercial Operations That Support All Growth-Related Functions

Commercial Architecture That Maximizes the Return on Selling Assets

Commercial Insights Built on Customer Engagement and Seller Activity Data

Commercial Enablement Capabilities That Turn Your Technology into a “Force Multiplier”

Commercial Practices That Maximize Return from Customer Data, Technology, Content, and Intellectual Property Assets

CHAPTER 4 Lead a Modern Business That Aligns Marketing, Sales, and Service. Growth Levers Across Executive Functions

The CEO Takes Control of Growth

A New Generation of Growth Leader Emerges

CHAPTER 5 Use One of Three Leadership Models: The Tsar, the Federation, and the Chief of Staff

The Tsar: Putting a “CXO” in Charge of Revenue Teams

Centralize All Operations Supporting Growth Under a CXO with a Broad Transformation Remit and Authority

Establish a CXO Executive to Lead Commercial Transformation and Coordinate All Revenue Team Functions

Centralize All Decisions About Cross-Functional Resource Allocation, Infrastructure, and Commercial Architecture

Creating a Common Purpose and Culture of Growth

The Federation: An Alliance Among Leadership Functions

The Wonder Twins at insightsoftware

Common Purpose and Culture of Teamwork at Ciena

The Demand Generation Board at Oracle and SAP

Collaborative Resource Allocation at Juniper

The Chief of Staff: A Revenue Operations “Rock Star”

Case Study: Enhancing Value Across the Company at GHX

CHAPTER 6 Assemble the Nine Building Blocks of Revenue Operations

What Does an Operating System for Business Look Like?

The Building Blocks of the Revenue Operating System

The Team That Connects the Most Dots Wins

CHAPTER 7 Connect Your Data, Technology, and Channel Assets to Acquire More Customers. The Importance of Strategically Managing the Return on Commercial Assets

Building Block #1: Revenue Enablement – CRM, Content, and Learning Technologies That Support Selling

Hitachi Vantara Connected the Dots to Simplify the Seller Experience

Building Block #2: Channel Optimization – Selling Channels That Maximize Effective and Efficient Interactions

The Keys to Improving the Economics of Selling Channels

Optimizing the Technology of Your Selling Channels

Augmenting Your Selling Channels with Real-Time Data-Driven Selling Guidance and Coaching

Building Block #3: Customer-Facing Technology – The Owned Digital Selling Infrastructure That Manages Customer Touchpoints

What Is Digital Selling Infrastructure?

Monetizing the Digital Marketing Infrastructure with Selling Teams Using ABM

CHAPTER 8 Blend Data into Insights That Inform Selling Actions, Conversations, and Decisions in Real Time. Unlocking the Potential of Analytics to Ignite Growth

Building Block #4: Revenue Intelligence – Manage and Measure Financial Value

Using Advanced Analytics to Create Better Measures of Seller Performance, Account Health, and Opportunity Potential

Building Block #5: Engagement Data Hub – Leverage Advanced Analytics to Connect Growth Assets to Value

Combining Data from Many Sources to Create Revenue and Customer Intelligence

Building Block #6: Customer Intelligence – Use Customer Data to Inform Decisions, Actions, and Conversations

Using AI and Machine Learning to Streamline and Personalize the Selling Content Supply Chain

CHAPTER 9 Extract More Revenue and Margins from Your Teams and Resources

Building Block #7: Talent Development - Attract, Develop, and Retain Commercial Talent

Creating a Closed-Loop System for Sales Rep Education, Readiness, Reinforcement, and Measurement

Building Block #8: Revenue Optimization – Allocate People, Time, and Effort Against Opportunities

What Is Territory Planning and How Does It Unlock and Accelerate Revenue Growth?

Digitizing the Process of Planning, Managing, and Optimizing Sales Territories and Quotas

Building Block #9: Revenue Enhancement – Increase Revenue Yield with Better Packaging, Pricing, and Personalizing Offers

Advancing the Science of Personalization: How Pandora Is Using AI and Machine Learning to Enable One-to-One Personalization at Scale

CHAPTER 10 Tune the Revenue Operating System to Get Maximum Performance

Digitize Planning Processes to Improve Agility in Deploying Your Resources

Use Analytics to Make Better Predictions, Forecasts, and Investment Decisions

Seven Places Where Analytics Can Help You Make Better Predictions, Forecasts, and Investment Decisions

Adopt Advanced Modeling Techniques to Evaluate More Scenarios and Build Consensus

The Power of Simulations to “War Game” Scenarios, Pressure Test Plans, and Building a Common Purpose

The Power of Models to Algorithmically Balance and Tune Your Revenue Engine

Eight Places Where Advanced Modeling Techniques Can Be Used to Evaluate More Scenarios and Build Consensus

CHAPTER 11 Deliver Growth with Six Smart Actions

Deliver Growth with Smart Actions

Six Proven Smart Actions That Work

Get Better Visibility into the Revenue Cycle

Simplify the Selling Workflow

Share Marketing Insights with Frontline Sellers

Develop and Retain High-Performing Selling Talent

Make Selling Channels More Effective

Streamline and Personalize the Selling Content Supply Chain

CHAPTER 12 Tailor Revenue Operations to Work for Your Business, Big or Small. How Revenue Operations Can Grow Revenues, Profits, and Value in Your Business

Transforming the Large Enterprise

Actions Enterprise Leaders Should Be Prioritizing

Complex Enterprises

Margin Maximizers

Agile Enterprises

Transformers

Achieving Hyper-Growth for Small Companies

Actions Hyper-Growth Leaders Should Be Prioritizing

Failure to Launch

Gas Guzzlers

Leaky Buckets

Cloud Climbers

CHAPTER 13 Make the Business Case for Your Growth System, from Activity to Impact. Prioritize Actions That Will Generate Short- and Long-Term Value

A Financially Valid Framework for Connecting Smart Actions to Firm Value: The Revenue Value Chain

How to Apply the Financial Framework to Create Budget, Buy-In, and Action

CHAPTER 14 Practical Tools to Take Control of Your Revenue Cycle

Glossary

References

Index

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“Companies need the right technology, process, and strategy to accelerate revenue streams and efficiency.”

— Meredith Schmidt, EVP, Revenue Cloud & Solutions, Salesforce

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This is the underlying reason why few managers have been able to master the science of growth. “The root cause of this problem is that historically academic and business institutions have taught and managed the science of growth as a set of individual disciplines – branding, product management, marketing and analytics,” says Professor David Reibstein of the Wharton School of Business. “But the real-world problem of growing a business is interdisciplinary in nature. We as teachers need to do a better job of creating skills, structures, and leaders who can manage, coordinate, and align all these disciplines coherently around the customer. Being the captain that coordinates and leads all those functions in a business is a very big job. But an essential one.”

Academic and commercial research overwhelmingly supports the concepts that growth is a “team sport” and that there is a causal relationship between organizational competence in analytics, marketing, information sharing, agility, and cross-functional collaboration with enterprise value. This research shows that a 10% increase in organizational competence will drive on average a 5.5% increase in stock price.7 An analysis of 380 CMOs by Forbes found that organizations investing in data-driven measurement processes, competencies and systems were achieving significantly higher levels of marketing effectiveness and business outcomes – achieving 5% better returns on marketing investments and more than 7% higher levels of growth performance.105 The analysis revealed that these high-performing marketers – who were exceeding growth goals by over 25% – were significantly more data-driven in their approach to measuring, optimizing, and reallocating their offline and online sales and marketing investments.

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