As companies with a RevOps foundation conduct their annual business planning, they will enter the year with confidence in their targets and planning assumptions. If they have been running RevOps analytics for 12 months, they have a pretty good picture of what next year will yield. They can identify the priority improvement areas that will allow them to impact performance by 5%, 20%, or 50%+.
These companies operate their growth function like most other corporate functions – using standard processes, performance models, actual metrics tracking, and resource optimization feedback. They have eliminated the “hope and work harder” approach that many high-growth companies use in this area of their business. It is one of the last corporate functions to mature from a process orientation perspective.
Gartner predicts 75% of the highest growth companies in the world will deploy a RevOps model by 2025. It makes sense because companies that use a RevOps approach grow faster than their peers who don’t. They also experience a host of other benefits – like sales forecasting precision, improved investor relationships, budgeting transparency, and a more collaborative culture across sales and marketing.
A RevOps foundation allows you to predict your 2023 performance
If you have a RevOps modeling capability, you can run various scenarios to determine what is required to change your bookings trajectory. For example, identifying which sales stage is the most important to improve (i.e. which one is the bottleneck) can impact overall sales conversion rate –typically the most impactful to overall performance. You can also identify which marketing investments are the most important for generating opportunities that have the highest probability of close (and how to better target your market).
We are helping many companies predict their 2023 performance using our RevOps platform. Sometimes the reality check is a wake-up call. Hearing “your performance characteristics predict you will secure only 65% of your desired target bookings” is, at first, disheartening. However, the tenacious (and typically the best performing) companies will hear that and say, “Okay, how do we fix that?” The good news is a RevOps foundation can answer that, too.
Request a complimentary 2023 Booking Prediction
To see how your 2023 targets stack up to your reality, request your complimentary 2023 Booking Prediction. You’ll spend an hour with our RevOps consultants and walk away with marketing and sales goals based on your bookings targets.