Sales POP - Purveyors of Propserity
The Holistic Data View from RevOps
Blog / Sales Management / Oct 14, 2021 / Posted by Nikolaus Kimla / 2627

The Holistic Data View from RevOps

0 comments

This is the next article in our continuing series on RevOps—revenue operations—and how Pipeliner CRM equates with RevOps.

We quoted renowned management consultant and author Peter Drucker in our last article: “You can’t manage what you can’t measure.” Carrying on from there, you can only measure something when data is not manipulated and is complete, correct, and holistic. RevOps—which Pipeliner CRM actually is—makes this possible.

Throughout the recent pandemic, much of the data released to the public did not meet these standards. The public ceased believing it. When that happens with a company, the company is in deep trouble.

There are multiple data streams flowing throughout a company. Bringing these data streams together provides a holistic overview of the data, and allows for its full and complete understanding.

Making Use of Current Data

The data used in previous times for management decision-making was often obsolete. A company would often use the data from the last quarter—but that means the data is three months old. In three months, things can change dramatically.

Outdated information will never be as useful as current data. You need data you can analyze regarding your company, its different departments, your products, and services. The challenge of the digitalization and digital transformation is the current integration of all your various processes.

We have worked so long and hard in isolated silos that this is the primary issue we face today. One department was not aware of what another department was doing. The flow of data from all of these areas is crucial. It’s not just marketing data, for example, from the website—how many leads are coming in, what kind of leads they are, and how they’re flowing over—it is the flow of all data.

Creation of Assumptions

Having all data currently available makes it possible for RevOps to truly strategize. This allows them to work backward and create assumptions.

Let us say that, for example, your operations required revenue of $1 million. You can then figure out how many salespeople you need to make this amount, by looking at the average of what salespeople have made per week in the recent past. To make the example simple, we could say that if you have 100 salespeople, each of them would have to make an average of $10,000 per week.

You next need to figure out what opportunities need to exist in your pipeline so that each sales rep can close $10,000 weekly. You should analyze the average time between a lead coming in and the closing of this $10,000. For simplification’s sake, we could say that closing this amount requires 7 days, 1 week.

Now figure your conversion rate. You can break it down to the number of opportunities—products, customers, cross or up-sales, whatever the type of opportunity is—that are required for each salesperson to close $10,000. If your conversation rate is 25 percent, then you would need, for each rep, 4 times the final amount, which would mean $40,000 in each salesperson’s pipeline—$4 million in volume—so that they end up with $10,000 at the end of the week.

Next, analyze these opportunities to see where they are coming from. Are they converting from website leads? Are they outbound leads from salespeople? Are they coming from somewhere else? This understanding is the challenge for marketing so that marketing is presenting you with qualified appointments and leads to equate to $4 million in value weekly. Looking through the data, you can see whether or not it’s possible for the marketing to do that.

Additionally, make sure you’re retaining your customers. Have a look at how many support tickets you currently have. If there are too many tickets, you’re at risk of losing customers. You should also examine how many customers have canceled out because of inferior support.

RevOps Holistic Data Requirements

What does such a holistic approach require? A number of people working seamlessly and interactively, supported by efficient technology. Otherwise, data will not be able to be used harmoniously with customers.

Pipeliner, in a RevOps capacity, is totally unique in this regard. First of all, we are an open system able to connect with any other application. From other applications, you can automatically import data either unidirectionally or bidirectionally.; It is updated in real-time. All of this can be done using Pipeliner’s Automatizer functionality, with no coding. You can create automated processes to immediately convey the correct information to the proper departments, people, and management.

One more requirement must be met for data to be rapidly assimilated: perfect visualization.

Pipeliner Use Example

Let us take an example with Pipeliner. For leads and sales management, a manager could create and utilize dashboard reports. The manager can dive right into any aspect of the data to view specifics of it.

Management cannot strategize and see company direction without the use of trends, so Pipeliner allows trends to be viewed, too. What did you do wrong? What did you do right? These are questions best answered by trends.

Another area where Pipeliner truly excels is its Performance Insight functionality. Management can look over win probabilities and compare them to what they should be, to see if sales are proceeding in the right direction.

Fine-Tune Operations

When you can monitor real-time data, performance can easily be fine-tuned. Today’s masters of using data to fine-tune would be Jeff Bezos with Amazon or Elon Musk with SpaceX. In the latter example, can you imagine what kind of data points are required from every sector for launching a spacecraft? It requires very tight coordination of live data.

This is why I’ve said time and time again that you will not be able to live in the future without automation and technology, without digitalization and digital transformation. Your company will not be able to keep up, because the speed of commerce and competition is constantly increasing. You’ll be left far behind.

Covid Lessons

Out of necessity, the pandemic brought us to the level of instant communication with each other.

Some distance back in history, in order to communicate people had to travel to meet each other. They could send letters, but they wouldn’t arrive for days or weeks. The telephone certainly improved things, as it allows people to speak in real-time. But it was expensive, especially for long-distance, and we still couldn’t see each other.

Just prior to the internet, we had text messages which sped up communication. And even when the internet arrived, we still weren’t communicating on the level we are today with videoconferencing.

Because of today’s communication efficiency, much business travel has become obsolete. People have realized they can jump on a videoconferencing call, eliminating the need to drive, fly or stand in line. They can even see each other as if they were right next to each other.

Through automation, inefficiency is being eliminated everywhere in our lives. This is especially important in companies because in business a company must be efficient to be productive.

Technology applies instantaneousness to communication—but also to much more. In the future, everything will be instant. Today we already see this in other examples such as inventory—we can immediately see what’s in stock and what we can promise customers.

The Meaning of RevOps

The primary challenge for a revenue operations department or manager is to bring together all of these data points and to ensure they’re all correct. We cannot have the data chaos that covid brought because it would drive companies out of business. RevOps is responsible for instantaneous data, data resources, and outcomes, and visualization being correct between silos.

The best platform to handle RevOps is clearly Pipeliner CRM, which provides you with visualization and the architecture for all of the above.

About Author

CEO and partner of pipelinersales.com and the uptime ITechnologies, which I founded in 1994 and has since played a significant role in the development of the IT-environment. pipeliner is the most innovative sales CRM management solution on the market. Pipeliner was designed by sales professionals for sales professionals and helps close the gap between the requirements of C-level executives for transparency and the day-to-day operational needs of field and inside sales. I am also the founder and Initiator of the independent economic platform GO-AHEAD!, which orientates itself on the principles of a free marketplace in terms of liberal and social responsibility. Connecting people, the trust of business leadership in terms of values such as freedom, self-responsibility, and entrepreneurial spirit, and strengthening their awareness in order to create a dynamic boost within the economy triggered through spontaneity, all stand for the initial ideas surrounding GO-AHEAD! I studied in Los Angeles and Vienna and received my Masters's Degree in 1994. I am married and have 3 children My Specialties are in: Sales Management, Sales CRM Software, CRM Cloud Solutions, SAAS, Business Strategy, Software Development, "Pipeline Management", Social responsibility, outbound sales, b2b sales, inside sales, sales strategy, lead generation, sales process, entrepreneurship, coaching, mentoring, speaker, opportunity management, lead management, Austrian School of Economics

Author's Publications on Amazon

This is a practical manual covering the vital subject of Sales Management. I firmly believe that sales are the most important profession for dealing with today’s turbulent world and Econo my, for salespeople create wealth and produce peace. But salespeople need a competent, stable leader—and…
Buy on Amazon
Inside this eBook, you’ll discover a series of chapters dedicated to some of the most important areas facing sales today. From the sales process definition to measurement, lead generation, and proven sales techniques, this comprehensive eBook will provide you with the information you need to…
Buy on Amazon
A common term in sales today is EQ, which stands for “emotional I.Q.” It means the skill a salesperson has in reading emotions and utilizing them in sales. It means empathy and a number of other abilities. The short version is, it’s an I.Q. when…
Buy on Amazon
People are smart to question the future of automation, for it has become part of everything we do. With the quantity of applications and technology around us, we yet still crave more. We become convinced of its power when our package is delivered from Amazon…
Buy on Amazon
Sales management isn’t a simple subject by any means. But at the same time, it does have some basic and somewhat simple fundamentals—and that is what we are bringing to you with this book. First come pain points of sales management, and how to overcome…
Buy on Amazon
Today the Internet has transformed a seller's market into a buyer's market and author Nikolaus Kimla states that the role of sales has never been more crucial. It is now time to give salespeople the role they factually can play: entrepreneurs within the enterprise. They…
Buy on Amazon
This is our public declaration of the intentions behind Pipeliner, and our objectives and motives for the product and for our company. Behind the development of that CRM application and, in fact, behind everything we do, we have a real cause. The story begins with…
Buy on Amazon
For the future, there must be a perfect balance of humans and technology. You have to have the perfect technology, andthen the perfect human being in application, performance and presentation. Today and into the future, it’s a 50-50 balance. In the past it was perhaps…
Buy on Amazon
The salespreneur is based on the concept of the entrepreneur. Before we can explain the salespreneur, you have to have some understanding of the entrepreneur. The entrepreneur plays a crucial role in any economic system. The entrepreneur seeks out information that can be utilized for…
Buy on Amazon
A seasoned captain would never leave port without a competent navigator. In a similar way, a sales manager might be a total ace at "commanding the ship" – at inspiring and coaching sales reps, pointing out and getting agreement on making quotas, and keeping everyone's…
Buy on Amazon
Comments

..
..
.
Sales Process Automation
.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. For information on cookies and how you can disable them, visit our privacy and cookie policy.