Revenue operations (RevOps) is reshaping the way businesses approach their strategies. It is mainly responsible for utilizing the right tech stack to align visions between marketing, sales, and customer success teams. With its emphasis on unifying goals, leveraging data-driven decisions, and gaining deep insights into customer behaviors, RevOps stands as the backbone of modern businesses.
For a RevOps team to truly thrive, equipping them with the right tools to optimize efficiency is crucial. This is where Automations comes in handy, as you can streamline processes that enable teams to track performance metrics, eliminate manual redundancies, and ensure every action contributes directly to the company’s overarching objectives.
To help enhance your RevOps strategies, there are 8 ways you can automate your processes:
1. Automate MQL scoring
To optimize the transition from marketing to sales, a robust MQL scoring system is crucial. This is necessary because leads vary in value, and prioritization is needed so that your sales team focuses on the most qualified leads.
Using this lead scoring template eliminates the need to manually sort through leads to assess their worth. Instead, it will auto-filter for MQLs and alert you on Slack using the real-time enriched estimated ARR data from Attio. These notifications ensure that all MQLs are addressed, allowing you time for establishing a compelling engagement strategy.
2. Create an MRR watcher
Financial insight is essential, especially for RevOps. An automated MRR watcher helps create it by offering immediate visibility into your organization’s revenue trajectory, which can ultimately inform financial decisions down the line. By notifying you of changes within your customers’ MRR, shifts can easily be recognized and addressed. This can be beneficial for pinpointing challenges and growth areas. With this workflow, your RevOps team will be equipped to foster enhanced collaboration and forward-thinking discussions based on real-time financial metrics.
3. Calculate LTV projection
Use the LTV projection template
While tracking instant financial shifts like MRR is important, monitoring metrics that help you gain financial foresight is equally impactful for your RevOps strategy. One of those metrics is a projection of your customers’ lifetime value (LTV), which indicates the estimated total revenue your company expects to earn over the duration of your relationship with a customer. Even though it’s an estimate, it can inform decisions such as how much you can spend on acquiring new customers (CAC) and the amount of effort you can use to retain existing ones.
Based on a customer’s MRR, this workflow automatically calculates their projected LTV and updates the attribute. Make sure you have an idea of your Average Customer Lifespan so that you can put it into the formula and get an accurate calculation. This template ensures that these projections are consistently updated based on incoming data and behavioral patterns which can help your teams allocate resources effectively, prioritize high LTV customers, and make informed decisions.
4. Measure projected ARR
Use the ARR projection template
Another measurement to get financial foresight is customers’ ARR projections. Even though the formula for ARR is easy, it can be time-consuming if you have to perform it on every record you have. With the ARR projection workflow, you can effortlessly plan your financial forecast without worrying about inaccurate data.
Not only does this workflow automatically perform calculations for projected ARR (MRR x 12), but it also updates the attribute in real-time. Harnessing the power of Automations for ARR projections will ensure that teams operate with the most accurate and up-to-date financial data, setting a strong foundation for future growth and planning.
5. Monitor subscription changes
Use the subscription change monitor template
Understanding the nuances of your customers’ subscription changes is crucial for sustaining consistent revenue and fostering lasting relationships. Whether it’s upgrades or downgrades, these shifts offer insight into customer satisfaction and product engagement, which can be beneficial in the process of finding PMF.
To facilitate this, we’ve crafted an Automations template dedicated to monitoring and documenting your customers’ subscription status changes. This workflow goes beyond just tracking as it leverages the power of AI to generate summaries of each subscription alteration, which are then instantly announced to your team via Slack.
6. Track product package changes
Use the product package change monitor template
As well as monitoring your customers’ subscription changes, it is also beneficial to track their product package changes. Understanding the dynamics of their product plan selections can help you identify customer behavior trends and expansion opportunities.
To aid in this understanding, we’ve developed an Automations template specifically designed to oversee and record changes in your customers’ product package choices. Not only does it keep tabs on these product changes, but it also utilizes AI to summarize these modifications, subsequently notifying your team through Slack.
This will help you spot trends in customer behaviors and ultimately inform how you adapt your strategies to enhance customer experiences.
7. Get insight from won deal summaries
Use the won deal summary template
One of the goals of an effective RevOps strategy is having a comprehensive view of customers. This involves not only tracking performance and behavioral metrics but also analyzing interactions across the entire customer experience pipeline. Tapping into insights from won deals can provide invaluable knowledge about the efficacy of your GTM strategies, while also offering a moment to acknowledge your successes.
To optimize this process, we have developed a workflow that automatically creates outlines of won deals, which will be delivered to your designated Slack channel. By configuring the AI generator’s prompt, you can tailor the depth of context you receive, ensuring you’re always equipped with relevant insights to inform future strategy and celebrate wins.
8. Learn from lost deal summaries
Use the lost deal summary template
Losing deals is never great and it is important to learn from them. Through these learnings, you can identify potential gaps in your GTM strategies and areas that need improvement. Recognizing these pitfalls is essential for nurturing continuous growth and revenue.
With the lost deal summary workflow, you’ll receive live, AI-generated summaries of your lost deals through Slack, allowing you to instantly understand why those deals have fallen through. The lessons you learn from each setback can be motivators for your team to optimize your approach and ensure future success.
