RevOps Co-op Weekly #92 - RevOps is Pivotal to B2B’s Future Success
The future of B2B may lie in the hands of RevOps pros. Abhijeet Vijayvergiya integrated B2B buyer data and funnel activity into front-line tools and sees RevOps as the way to success.
RevOps Co-op provides resources, content and community for those who ❤️ revenue operations. This weekly newsletter features collected tweets, posts and thoughts on a variety of RevOps topics. We also have a private Slack community with > 5,200 RevOps pro’s from companies like Slack, Lyft, Brex, Clari, Miro and more 👉🏻 click here to join.
📣 COMMUNITY ANNOUNCEMENT! 📣
The RevOps Co-op welcomes QuotaPath, our newest community partner that demystifies sales commissions and compensation! 🎉
So who is QuotaPath?
🤔
QuotaPath automates commission tracking and sales compensation management to provide Reps, Leadership, and Finance teams with real-time tracking, reporting, and forecasting.
We’re the only platform built with user intuitiveness and sophistication fit for your newest sales rep as well as your CFO. Enjoy fewer commission questions and more revenue!
RevOps is Pivotal to B2B’s Future Success
RevOps was a term no one talked about 20 years ago, despite many businesses embracing strategies that would now be considered “RevOps”. Recently, the function has grown to be seen as necessary - not just in large enterprises but also in smaller mid-market companies. Driving efficient and predictable revenue at any level comes from better data and Abhijeet Vijayvergiya, CEO and co-founder of Nektar.ai, is helping RevOps pros do just that by relying on his years of experience in the industry.
Today’s B2B SaaS marketplace is competitive no matter who you are selling to and with so many similar product options, it's very difficult to predict which will win and which will lose. One thing is certain. The companies with the most efficient and effective operations are most likely to be the kings of the castle with RevOps playing a key role in that success.
Abhijeet Vijayvergiya saw the pain points inherent in front-line B2B data throughout his career. Too many things were lacking. There were too many gaps. Data existed in various disparate places, and wasn’t consistently shared or synced across systems. He knew there was a better way, so he set out to solve the problem himself - as Co-Founder and CEO of Nektar.ai, an automated platform that brings funnel activity and buyer data together to the front-lines.
And don’t the best solutions come from personal experience?
The Pain Points
“I personally faced most of these pain points. They were due to poor visibility of data, lack of collaboration, siloed functions and disconnected systems,” he says. “It just created so much difficulty in terms of scaling.”
It was easy enough to make things work with five sales reps, but as the team grew from 5 to 20 to 50 and beyond, it became more and more difficult to support everyone’s success.
“It was getting very difficult to work out our SaaS metrics and learn those problems that I faced around predictability and efficient revenue growth,” he notes.
A lot of solutions came about when he put more resources and energy into his internal RevOps team, but everything they did was customized to them. What he built at first was a service option, not a software platform. Through all of this custom solution building, Abhijeet came up with the idea for Nektar.
“It starts connecting all of those other data sources, tools and systems,” he says. “It’s a very common practice for bigger companies and teams but our vision was to help mid-market companies use these kinds of efficient processes.”
The Buyer Journey and Mind the Gap
Who follows a sales process? A salesperson.
And who follows a buyer's journey? Yep, you guessed it, the buyer. If companies are to be buyer-centric, they must stay focused on the process the buyer wants to follow and value that above the process that the sales team wants to follow.
“You need to map that buyer journey and that will come as we start capturing data,” Abhijeet says. “Data becomes absolutely critical.”
Much of the data through the process doesn’t make its way into the CRM. He stresses that fixing the data gap is very important.
“Second, some of the tools or interfaces that our buyers and sellers interact with, they need to be very user-friendly,” he adds.
This isn’t a lightbulb moment, or at least it shouldn’t be. These software solutions invest a ton in UX to make their tools easy to work with. And in the end, many still aren’t. When balancing the needs of their buyers vs the needs of their sellers, many companies fall short on delivering a good experience to both parties.
Automation and Integration
A good sales process can have dozens of touch points, all coming in at different times to educate, engage, and convert a prospect into an opportunity and then a customer. As these processes become more complex and feature many moving parts, automation is one way to keep things in order.
“How you can automate across the different touch points that buyers and sellers have,” he says. “Once you start capturing this data, connecting it to the buyer journey, making it user friendly and automate, you need to also be able to merge the intelligence that comes out of this data.”
He sees B2B sales moving towards a future where RevOps systems connect all relevant channels and tools and information to create a RevOps process that any organization can use to scale their growth. That way, leadership can get a clear view into any aspect of their company’s performance, and small iterative changes can pay off in huge gains in the long run.
…There’s more! Read & Watch full Video Blog here 👉 RevOps is Pivotal to B2B’s Future Success
🗣 From the Community
#04_revops-questions - CRM Contacts
07/5/22 - What do you do with contacts which no longer work at the company or passed away? I was debating on whether I should delete them from the system or disqualify them? Read 11 replies
#04_revops-questions - When is a Deal “Won”?
07/04/22 - Serious question - what is everyone' s definition of a "deal won" recorded in your CRM. Is it the moment a contract is signed? The moment a deposit / initial payment hits your bank. Or.... something else? Read 13 replies
#08_tools-and-software - HubSpot Texting
Hey any recommendations on tools for SMS/texting through HubSpot? Read 7 replies
#08_tools-and-software - Read Only Deals in HubSpot
Hello team! Tagging Hubspot experts, I am configuring HubSpot for my sales org and I was wondering if it is possible to make a deal “read only” for users after a deal moves to won stage? Read 16 replies
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📅 Upcoming Events
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🔦 Partner Spotlight
Together with CaptivateIQ
Best tips to save time managing sales commissions
Managing sales commissions can be a time-consuming and complex process — sometimes requiring days, each cycle, to calculate.
And, as you know, commission management isn’t just about calculations. It includes fielding questions from sellers, correcting mistakes, and getting approval on payout statements. Any mistake, large or small, can cost your company time and money!
Fortunately, there are several things you can implement today to streamline the commission process to save your team time — from automation to plan simplification and data maintenance.
In this white paper, we outline best practices to help you more accurately report commission earnings and reduce administrative work so you can keep your compensation program running efficiently and smoothly.
Check out the white paper here.
🐦 This week in #RevOps Social
Hot webinar alert! 🔥
Enablement matters. 👏
Mic drop! 🎤
📚 Your curated #RevOps reading list
How to Hire & Keep Marketing Operations | CaliberMind
Garrett Erny, Founder and Owner at Poppy’s Tech Aid, joins our host, Camela Thompson, in this episode of the Revenue Marketing Report. Garrett shares the flaws in hiring, skills needed for success, and the importance of reputation in marketing operations.
7 Common Commission Management Mistakes and How to Avoid Them | CaptivateIQ
When executed correctly, nothing is more motivating to a sales team than a fair and clearly-defined commission structure. On the other hand, nothing is more disheartening to sellers than commission payout mistakes. Even one mistake to a rep’s payout can cause a domino effect that tanks performance and causes top talent to run for the hills. Here’s a look at the seven most common mistakes made when managing commissions, so you can better protect yourself from a commission disaster.
How to Run a Powerful RevOps GTM Meeting | Syncari
RevOps touches every aspect of go-to-market -- it’s the glue that proactively ties in all stakeholder information and the conduit that aligns teams around a shared goal. They are the collaborative heartbeat of a good business. And they need to be at the helm of interconnecting teams and driving revenue.
🔥 A few HOT #RevOps Jobs
Head of Revenue Operations (NY/Berlin) | Leapsome
Sales Operations Manager | Redpanda Data
Data Analyst-Sales | Inovalon
Sales Operations Coordinator (EMEA) | Hotjar
Sales Operations Coordinator (Americas) | Hotjar
🚒 Weekly RevOps Meme
Thanks Nektar.ai!