Welcome to part 3 of our series introducing revenue operations. In part 1, we introduced the history of revenue operations. In part 2, we showed how revenue ops drives success in high growth B2B companies. If you missed those articles, I encourage you to check them out.

Today we’ll dive deep into who should be part of a revenue operations team. We’ll start with the top priorities for revenue operations. Then we will define the tasks associated with those priorities. Then we’ll dive into creating team roles and the profiles you’ll want to hire.

Defining the Key Objectives

The revenue operations role can provide value in a lot of ways. That makes it very important to plan what the right answer is for your organization. We see five capabilities as being key to the revenue operations team:

statusquota revenue operations five capabilities

Capability 1: Strategy & Tactic Development

The main goal of revenue operations is to define strategy for a company. They then help all teams work towards this shared vision. This requires a deep understanding of the business on two levels. First, how the individual teams operate. Then, how the teams integrate to create revenue for the company and value for the company.

But this goes beyond high-level, conceptual understanding. Creating impact requires revenue operations translates strategy into tactics. The marketing, sales, and customer success teams must then use these tactics in daily work.

Some of the tasks that support this capability include:

– Setting objectives & key results for the sales, marketing, and customer success organizations

– Creating processes & documentation to operationalize strategic priorities

– Execute campaigns aligned with strategic priorities alongside marketing, sales, and customer success

Capability 2: Data Analysis

The revenue operations team provides analytical firepower to tackle strategic and operational questions.

There are two types of analysis that businesses rely upon: descriptive & predictive.

Descriptive analyses explain what is happening right now. KPI dashboards and standard reports use descriptive analytics.

Predictive analyses can be much more powerful. That’s because they answer the question of what will happen based on what has occurred in the past.

Companies rely on SaaS predictive tools like lead scoring to provide predictive insights. Advanced companies bring predictive capabilities in-house. Their own data scientists create predictive models using ALL their business data. They are not limited to the integrations provided by SaaS predictive tools.

Some of the tasks that support this capability include:

– Defining and tracking business metrics & KPIs

– Generating advanced predictive analysis using statistical analysis and machine learning algorithms

– Translating the results of analysis into business insights for management

Capability 3: Resource Management & Planning

The revenue operations team should also support day-to-day execution.

Successful strategy requires investments in staff, technology, and services to support implementation.

And the creation of straightforward goals & targets is a must. They provide managers and individual contributors a definition of success. And this definition of success ties to the company’s broader goals.

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Some of the tasks that support this capability include:

– Creating forecasts for the sales & marketing teams

– Managing sales opportunities & lead pipeline

– Budget planning

Capability 4: Data Management

The revenue operations team searches for insights using information the company’s data systems. Because they are reliant on data, they must be good stewards of the data. Data quality issues shouldn’t impact the operations of marketing, sales, and customer success. Nor should bad data prevent the revenue operations team from performing analyses.

Some of the tasks that support this capability include:

– Data cleansing, normalization, and de-duping

– Enrichment of data

– Improving data quality

Capability 5: Technology Management

There is are plenty of tools used to support the organization’s revenue goals.

RevOps should play a big role in technology selection. The team is in a unique, cross-functional position. This gives revenue operations an understanding of how the technology stack fits together. That is vital when considering a new system that will interact with other tools.

But the work is not over after a choosing a solution. RevOps should also support implementation, onboarding and rollout to the organization.

Some of the tasks that support this capability include:

– Vendor evaluation and selection

– Technology integration and data migration

– Day-to-day administration and training

Defining Roles on the Revenue Operations Team

We’ve now explored the five core capabilities of revenue operations. Now there’s another important question to answer: “Who do we need on the team?”

Building a RevOps team from scratch? We’ll provide our recommendation below. This reflects what works here at StatusQuota. It also resembles the team structure of several technology companies we admire:

statusquota revenue operations three team

Team Member 1: The strategic project manager

For your first hire, you’ll want to bring in someone who can hit the ground running. RevOps is a cross-functional role. So good communication skills and a solid understanding of business fundamentals are key.

It is also important that this person has good project management skills. In a fast-moving business, they will be juggling many projects at once.

Finally, this individual needs analytical skills to generate strategic. At a very least, you want someone who is comfortable with analysis using spreadsheets.

 

Primary Capabilities:

– Strategy & Tactic Development

– Resource Management & Planning

– Technology Management

 

Secondary Capabilities:

– Data Analysis

– Data Management

 

Who to hire: former management consultant or project manager at a marketing agency.

 

Team Member 2: The database analyst

The first recommended hire is strategic. The next suggested one is a lot more tactical.

Bringing in a database analyst that is comfortable with SQL is big for a few reasons. First, a good database analyst helps you extract business data from your systems. Once out, they can get the data into a useable form for analysis.

This individual also helps to make connections across business data sets. By joining disparate datasets together, they enable new analysis and insights.

 

Primary Capabilities:

– Data Analysis (descriptive)

– Data Management

 

Secondary Capabilities:

– Technology Management

 

Who to hire: SQL-experienced business analyst or business intelligence developer

 

Team Member 3: The data scientist

Data science has become a big buzzword recently, but for good reason

The data scientist is your x-factor. This role is critical to creating company-specific insights that will fuel your growth. Your data scientist has two big roles. First is conducting exploratory analysis to identify relationships hiding in data. Second is building predictive models to identify behavior patterns and make recommendations.

Being good at Microsoft Excel is no longer enough. You need real statistical smarts to make sense of large, complicated datasets. Data-savvy companies rely on data scientists building custom predictive models.

Primary Capabilities:

– Data Analysis (predictive)

– Strategy & Tactic Development

 

Who to hire: graduate with degree in statistics or a related field and work / research experience creating predictive models

Wrap Up

In summary, revenue operations creates value for companies in five ways: supporting strategy and tactics, providing data analysis expertise, improving resource management, enhancing data quality & usage, as well as managing the overall technology stack. Additionally, there are three key members of a revenue operations team: a dedicated project manager, database analyst, and data scientist.

With the right team in place, your revenue operations can deliver massive impact across marketing, sales, & customer success.

The time to start building this team is now.

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About the Author

Remen OkoruwaCEO
Remen is a co-founder and subscription strategist at StatusQuota. He is passionate about helping SaaS businesses reduce customer churn, and loves chunky guacamole.