RevOps Co-op Weekly #106 - Surviving vs Thriving: How to Rev-Up Your RevOps Team and Tech Stack for Success in 2023
How will you make 2023 a year that hits the record books for all the RIGHT reasons? Hear how experts are approaching their plans thanks to CPQ and more!
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Surviving vs Thriving: How to Rev-Up Your RevOps Team and Tech Stack for Success in 2023
During this roundtable, sponsored by RevOps Co-op partner DealHub, we’re taking a deep dive into how to build a foundation for 2023 that helps RevOps teams thrive rather than just survive. Matt Volm, CEO and Co-founder of the RevOps Co-op, will be leading the panel discussion with experts including Saul Garcia, VP of Revenue Operations at Health Recovery Solutions; Bruce Harris, Director of Finance Applications at Torchy’s Tacos; and Eyal Orgil, CRO and Co-founder of DealHub, to explore how to supercharge your efforts through CPQ and other tactics.
Understanding how to wrap up the year with great success rather than flying by at the seat of your pants is top of mind as we’ve rounded the corner into Q4. For many, the latter half of 2022 looked more like 2020 than the excitement (or at least relief) seen in 2021. Belts have been tightened, changes have been made, and everyone is hoping for the best while we’re still putting plans in place for less desirable scenarios.
It’s been a challenging few months to say the least.
In this roundtable about making RevOps a strong contributor towards organizational success in 2023, experts share their insights on trends, identify big wins, flexibility, and ways CPQ can ultimately allow your organization to flourish.
Before we dive in, let’s give a major shoutout to our sponsor and RevOps Co-op partner, DealHub. DealHub is a sales-friendly CPQ solution that consolidates the quote and contract tasks into one tool. Sales people find it intuitive and it takes just a few weeks to implement, rather than months.
We’re excited to have Saul Garcia, VP of Revenue Operations at Health Recovery Solutions; Bruce Harris, Director of Finance Applications at Torchy’s Tacos; and Eyal Orgil, CEO and Co-founder of DealhHub on the panel. Eyal candidly agrees that 2022 felt like déjà vu from 2020.
Pains of 2022
“Things were changing, all of a sudden, very quickly from the plans that we had for the rest of the year and things were taking a twist,” he says. “We’ve seen a little more belt tightening. We’ve seen some people talk about ‘let’s hold off a little bit on some of our projects’.”
Many organizations are focused on creating efficiencies in their sales teams, within their tech stack, and throughout their sales process. Through platforms such as DealHub, organizations are now able to focus on areas such as this and contract management.
“People are still looking at the right solutions to put the right priorities on the right solutions,” he says. “Going into 2023, people are still a little uncertain.”
Bruce Harris, Director of Finance Applications at Torchy’s Tacos says it was an eye-opener for a lot of businesses.
“People started realizing business applications run their whole company,” he says. “I don’t know why it took so long.”
The need for a dedicated business applications person suddenly became clear.
“It’s all about revenue and revenue velocity,” he says. “If you don’t have that, you’re not going to survive.”
In healthcare, Saul Garcia, VP of Revenue Operations at Health Recovery Solutions says the industry evolved. COVID pushed their patient monitoring solutions into the forefront across the country, but 2022 saw more of a return to normal.
“The industry as a whole has changed where industries are a bit more open to RPM [remote patient monitoring] and telehealth—we certainly expect some amount of normality,” he says. “Not all the way in terms of how it was in 2019 [though].”
Educated Hopes for 2023
“Even as a CPQ tool, we have to make sure we’re using it right; we’re providing the right approval processes,” says Eyal. “Not slowing them down as we grow, [rather] we’re changing it as we’re growing.”
Other trends he’s seeing is the increased focus on approval workflows and a constant focus on creating more efficient processes. While managers providing deal approvals is just a fragment of their typical workflows, DealHub helps them work collaboratively to discuss the process most intelligently.
Saul admitted that planning for 2023 is what worries him and keeps him up at night. But, in truth, he too sees efficiency as the key.
“It’s being realistic about our 2023 plans being data-driven, but not data-reliant,” he says. “All the data in the world in 2019 would not have predicted what happened in 2020. There’s always going to be surprises.”
While it’s safe to say his business is going to be heavily data-driven, taking failures and focusing on efficiencies is also taken into account while planning.
2023 Wins Could be…
Improving performance and efficiencies both up and down market is a potential big win in 2023 for Saul.
“We started a mid-market team this year,” he says. “And while we’ve seen some success, I don’t think we’ve seen the success across the entire team”
He’d like to see a narrower net, a quicker sales cycle, and gain big deals that build success for the rest of the team.
Bruce deals with the business of tacos, and while there may not seem to be much cross-over from Saul, they both deal with increases to costs.
“We’ve had to do price increases,” Bruce says. “You don’t want to drive away too many customers. It’s all about efficiency, predictability, and consistency.”
He explains creating a feedback loop to constantly fine tune processes will allow for better revenue captures. For this, and a variety of other reasons, he feels business applications belong in the financial side of the business.
“Within that team, you don’t need to hire a technical team, but you need people who know processes,” he says. “Everything has that financial impact.”
What About Short-term Wins?
Going in as a team-of-one is familiar territory for Saul. He’s done it three times now. He looks at strengths and weaknesses in himself, and hires from there based on the organization’s needs.
“CPQ has really helped us and enabled us to be a lot more efficient,” he says. “The guardrails it puts in has really helped us, but at the same time, we might need someone to help review some of this stuff before things close, so that’s potentially something we’re looking at.”
This is where DealHub comes in. As a Salesforce shop and CPQ business, scaling up comes relatively easily in-house.
“As the team grows, we do have to keep pace with a lot of different changes that are happening,” Eyal says.
This includes looking at both the RevOps team and the complementing teams such as customer success, operations, and marketing when it comes to growth.
🔦 Partner Spotlight
We are officially in Q4 and commission plans for 2023 are right around the corner. Spiff is here to help you with “3 Keys to Building an Effective Commission Plan”.
One wrong commission payment. That’s all it takes for a sales rep to jump ship and take their skills elsewhere. This article will show you how the right commission plan execution can retain your employees, reduce customer churn and increase trust between internal teams.
Check out the article 👉🏻 here 👈🏻 and let us know your thoughts in the #03_general channel!
🗣 From the Community
#04_revops-questions - Target Opportunities
Hello All! How do you account for / track "target opportunities"? Our sales leadership wants better visibility into the accounts sales and customer success think are opportunities but are not technically qualified yet. He has asked specifically for a "Target" opportunity stage so reps can create opportunities for these accounts (ie opps that aren't actually opps)… We use Salesforce as our CRM and have an initiative this quarter to set up top of funnel lead tracking in Hubspot. Read 14 replies
#04_revops-questions - MQL-SQL Process
Hello everyone! Does anyone have experience building out an MQL-SQL sales process for a B2C ed tech company? Looking for best practices and recommendations. Thanks! ATM we do not have SDRs just a sales team that gets a lot of MQLs each day. And we use HubSpot as our CRM. Read 7 replies
#08_tools-and-software - Outreach Dialer
Has anyone who has used Outreach's dialer ever had "Spam risk" show up on Caller ID? Read 11 replies
#08_tools-and-software - Hubspot <> Salesforce
Hey Friends is anyone using HubSpot for Marketing and Salesforce for Sales / CRM, who would be happy to share there experiences on alignment and reporting? Read 7 replies
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