If you’re reading this, you don’t need to be told just how important increasing sales velocity is — both to your organization’s sales efforts, and to its competitiveness as a whole. The speed with which you’re able to move deals through your pipeline translates directly to how quickly and effectively you’re able to grow as a company.
This is worth reiterating, however, because it explains the recent rise of the Revenue Operations (RevOps) function inside companies as well as the convergence of the Sales, Marketing, and Customer Success Operations functions in general. Over the last few years, especially, revenue leaders have come to think of these once disparate departments as necessarily interconnected components of the same operational engine. But as companies continue to think more holistically about the customer lifecycle, it’s critical to think even more seriously about how to make these moving parts work better and more efficiently together.
At least, that is, if you’re serious about increasing sales velocity.
Assuming that you are, the question then becomes: how should your and your fellow RevOps team-members go about doing that? Precisely because of its cross-functional demands, increasing sales velocity is a remarkably challenging endeavor. In every revenue-generating workflow there exist myriad opportunities for wasted effort, lost time, confusion, and squandered deals. In every hand-off — such as when sales sends an MSA request to legal, and subsequently loses any and all visibility into the status of that action item until it’s done or until they remember to follow up — there arise the potential for black holes. Similar hiccups can occur in handoffs from marketing to sales, sales to procurement, legal to finance, and from sales to customer success.
Accounting for these risks requires making many systemic, cross-functional operational improvements, including dismantling long-standing cross-functional practices, re-evaluating technology stacks, and reconsidering human preferences across teams. It’s not merely a matter of implementing individual fixes, or empowering specific individuals or teams with more powerful technology.
To increase sales velocity is to increase alignment across all parts of the revenue generation process, and better integrate teams’ use of their technology, processes, and people, so that they contribute more seamlessly to a healthy sales funnel. It’s to consolidate historically siloed teams so that all revenue-generating functions — such as hand-offs and lead-routing — are facilitated with minimal bottlenecks or technology gaps. It is, in essence, to work to optimize and make more symbiotic your company’s entire revenue-generating machine. To make meaningful gains in sales velocity, you have to think about the machine as a whole. Fiddling with a spare part or two just won’t do it.
So what does that look like? Well, that’s why we wrote this eBook.