According to a recent survey conducted by HubSpot, 73% of business leaders agree that optimizing their tech stack is critical to their company's success.
Regarding revenue operations (RevOps), having the right tools in your tech stack can make all the difference in driving revenue growth and achieving organizational goals. With the ever-changing landscape of technology, it can be challenging to stay ahead of the curve and ensure that your RevOps tech stack is optimized for success.
In this article, we will discuss the top 10 tools that can help you get ahead in 2023 and optimize your RevOps tech stack for maximum impact. We will tell how these tools can lead to revops solutions From sales enablement platforms to marketing automation tools, we will cover a range of solutions that can help you streamline your RevOps processes, improve collaboration between teams, and drive revenue growth.
Whether you are looking to optimize your existing tech stack or are just starting to build a RevOps function, this article will provide valuable insights into the top tools to consider in 2023. We’ve extensively researched and compiled a list of the top 10 tools, categorized by the top 5 RevOps Challenges.
Sales & Marketing Automation
Revenue Operations (RevOps) teams can face challenges in Sales & Marketing Automation while optimizing their Revenue Operations Tech Stack. One of the main challenges is integrating various systems and data sources, such as CRM, marketing automation, and sales enablement tools, into a cohesive and streamlined tech stack.
- Salesforce: A cloud-based CRM platform that enables organizations to manage their customer interactions, sales processes, and marketing campaigns, and provides a 360-degree view of customer data by integrating with various data sources.
A survey by Capterra found that Salesforce was the most popular marketing automation tool among small and mid-sized businesses, with 29% of respondents indicating that they used the platform.
- HubSpot: An all-in-one inbound marketing and sales platform that includes features such as lead generation, email marketing, and customer relationship management, which can be integrated with different data sources to offer a unified view of customer data.
HubSpot is a widely recognized tool for sales and marketing automation and has consistently been rated among the top marketing automation platforms by industry analysts and publications, including Gartner and Forrester.
Sales Performance Management
RevOps may face challenges in Sales Performance Management while optimizing the revenue operations tech stack. This is because the tech stack may consist of multiple disparate systems and tools that do not integrate well with each other, leading to inefficiencies and inaccuracies in managing sales performance.
RevOps will need to ensure that the tools and systems they choose for the tech stack can seamlessly integrate and provide accurate and actionable insights for sales performance management. We present two very top-notch sales performance management tools for the users.
- Visdum: Visdum is a sales compensation software designed for SaaS companies that can help optimize the revenue operations tech stack. It provides a specialized solution for managing sales compensation with its integration with CRM and DocuSign, accurate commission calculation, and user-friendly dashboard access. The platform offers flexibility and customization options with the ability to choose fields, set filter criteria, and sync schedules.
- Anaplan: Anaplan is a cloud-based platform for enterprise planning that provides several sales performance management solutions such as sales forecasting, territory and quota planning, and incentive compensation. It allows for agile planning and real-time collaboration across the organization, which helps sales teams promptly adapt to changes in the market.
Anaplan's strong analytics and reporting features, as well as its integration with top CRM and ERP systems, make it a great option for optimizing your revenue operations tech stack.
Sales Enablement / Readiness
RevOps requires professionals with a combination of technical and business skills to manage revenue generation processes effectively. However, there may be a limited talent pool of professionals with these skills, making it difficult to build a strong RevOps team.
Additionally, the cost of hiring and retaining these professionals may be high, further complicating the challenge of building a successful RevOps function.
- MindTickle: MindTickle is a sales readiness platform that uses AI to provide personalized coaching to sales teams. It can help organizations develop the skills of their sales teams and reduce the time and cost associated with hiring new talent.
- Gong: Gong is a revenue intelligence platform that leverages AI to analyze sales conversations and provide insights to sales teams. It helps in sales enablement and readiness by providing data-driven coaching and training recommendations, improving sales rep performance, and enabling sales leaders to make better strategic decisions.
Siloed data
RevOps requires a range of tools and technologies to effectively manage revenue generation processes, one of the main challenges faced by RevOps is the issue of siloed data, where different teams use various tools and systems to manage their data, resulting in data silos that make it difficult to gain a comprehensive view of revenue generation processes. This can hamper the ability of RevOps to make informed decisions, as they need access to complete and accurate data.
To help address this challenge, there are two top-notch software available that can assist RevOps in overcoming siloed data and gaining a more comprehensive view of revenue generation processes. These software solutions include:
- Domo: A cloud-based business intelligence platform that consolidates data from various sources and provides real-time insights into key performance indicators, offering RevOps a comprehensive view of revenue generation processes to make data-driven decisions.
Domo provides real-time insights into key performance indicators (KPIs) such as sales pipeline, revenue growth, customer retention rates, etc. With these insights, businesses can make data-driven decisions that can help them optimize their revenue operations and improve overall performance.
For example, if Domo shows that a particular marketing campaign is generating more leads than others, businesses can allocate more resources toward that campaign to maximize their returns.
- Tableau: A data visualization software that can help organizations visualize and analyze data from different sources, enabling RevOps to gain insights into revenue generation processes and identify areas for improvement.
Tableau enables RevOps teams to gain a comprehensive view of their revenue data, including sales pipeline, customer behavior, and marketing performance. This information can help teams make data-driven decisions and identify areas for improvement in the revenue generation process. This makes it easier to communicate insights and collaborate with different departments in the organization.
Lack of collaboration/Resistance to change
RevOps requires effective collaboration and alignment between different teams such as sales, marketing, and customer success. However, sometimes teams may resist collaborating or there may be a lack of clear communication channels, leading to a breakdown in the RevOps process. Let’s check out the software tools that can help improve collaboration and communication among teams in RevOps:
- Slack: Slack is a real-time messaging and collaboration platform that enables teams to communicate, share files, and integrate with other tools. Dedicated channels can be created for different teams to facilitate better communication and collaboration.
- Salesforce Chatter: Salesforce Chatter is a social collaboration tool that allows teams to share knowledge, collaborate on projects, and communicate in real-time. Integration with Salesforce CRM can facilitate better collaboration between sales, marketing, and customer success teams.
In conclusion, optimizing your revenue operations tech stack is crucial for any organization looking to stay ahead in 2023.
According to a survey conducted by Gartner, 80% of organizations plan to invest in revenue operations technology in the year 2023.
With the growing demand for revenue operations professionals and the increasing complexity of revenue generation processes, having the right tools in place is essential to achieving success. Similarly, organizations need to prioritize training and development for their revenue operations professionals.
As the business landscape continues to evolve, organizations must adapt and optimize their revenue operations tech stack to stay ahead. By leveraging the discussed tools in this article, organizations can address the challenges faced by revenue operations teams, streamline their revenue generation processes, and drive success in 2023 and beyond.