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Learn more about the RevOps movement and how to integrate sales, marketing, and customer service in one single strategy.
Cannabis companies have two objectives: to serve their customers and to generate revenue. These two objectives are intertwined. One cannot be achieved without the other.
In order to streamline operations and optimize workflow, your company’s departments must be aligned. This is also known as RevOps or Revenue Operations. By aligning marketing, sales, and customer service departments, teams will have clear, common, and shared goals that let them conduct business more efficiently.
If you’re a cannabis company, consider using the RevOps strategy to not only increase revenue but maximize your company’s outreach, effectiveness, and relevance. Learn more about RevOps below and how cannabis companies can implement it.
Revenue Operations or RevOps refers to a strategy that integrates the following revenue departments within a business:
It’s an excellent method for improving productivity and revenue growth. By aligning sales, marketing, and customer service, your business has clear and common goals shared and deeply understood throughout these departments, which results in more effective operations and increased sales.
While SalesOps focuses on sales operations, RevOps focuses on revenue operations and integrating departments within the business (like sales) to optimize operations and increase revenue.
Sales, marketing, and customer service departments will collaborate to set clear and common goals to ensure operations are aligned. It can also help track the ROI (return on investment) within the abovementioned departments.
The most effective way to increase your company’s revenue is by aligning your marketing and sales teams. Let’s start with the basics.
A Clear Mission: Before analyzing data and getting to the nitty gritty of RevOps, businesses must have a clear mission shared and understood throughout the company. In addition to a mission, the company should also understand its target audience and demographic. This helps tailor your marketing and sales experiences to reflect the values, wants, and needs of your customers. This leads to more enjoyable customer experiences and, thus, increased revenue.
The Funnel Approach: Think of RevOps as a funnel. Between marketing and sales, marketing is the broad, detailed, and large opening at the top that pulls in potential clients and attracts them to what you offer. From there, the sales team takes over to make pitches to leads and turn them into clients or customers.
Goals & KPIs: KPIs (key performance indicators) are a measurement of performance that sets certain goals and tracks a department’s progress towards them. Ensuring KPIs directly affect a broader company goal will help align your sales and marketing teams. That could be increasing website traffic, tracking subscriber growth, conversions, etc.
Frequent Meetings: There’s no better way to align your sales and marketing teams than having them meet regularly. Discuss the highlights and low points of the week, what’s working and what isn’t, and what support or changes the sales team needs from marketing in order to land clients.
Share Marketing Content With Sales: The main goal of marketing is to promote a product, company, or service and attract potential customers. In doing so, marketing departments must keep track of the content they’re creating and highlight key points to share with sales in order to help them make well-informed pitches. Track your marketing team’s content through a shared document, calendar, etc.
Whether you’re B2B or B2C, cannabis companies must consider a RevOps strategy to increase profit. Luckily, it’s quite easy when all departments within your business are aligned and informed regarding the company’s goals and progress toward them.
Cannabis consumers appreciate high-quality content and effective marketing. They enjoy reading about the benefits of a product and why it’s better than the competition. Thus, RevOps for cannabis companies should heavily focus on the marketing aspect.
You could even hire a RevOps team that uses automated functions to produce scalable customer experiences to improve operations further. From there, handing off leads to sales will be aligned and seamless. Follow the steps above to fully implement RevOps in your cannabis company.
Your RevOps team or IT department can use technological tools like AI and analytics to observe data and trends while finding the most effective way possible to drive revenue.
This valuable data can also track which potential customers are interacting with you and what’s not working. It’s ideal to gather data through tools like analytics as well as through manual organization.
Examining this information gives your company a better idea of who your customer is, what they want, and the overall consumer lifecycle from the moment they enter your page to when they leave.
There are various ways to implement a RevOps strategy in a cannabis company.
While marketing and content are the key factors, ensuring a seamless process from marketing to sales and to customer service will help streamline operations, optimize workflow, and increase revenue. It’s essential to align your marketing and sales teams to produce content that can be used for lead generation.
Finally, tracking content and sharing it with sales makes their job much easier. Aligning your company’s departments is the most reliable way of increasing revenue.
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