TLDR: Data collection and reporting are a key part of decision making in RevOps, but do you have the right frameworks to help your team get that right? In this Tough Talks Made Easy, we’re going over how you can help your RevOps team align on the right metrics and KPIs, as well as the considerations you should make to choose the right reporting tools for your business. 

Gathering and reporting on performance is a key part of any marketing operations team. In fact, not having a baseline of reporting and analytics tools for MOPs and sales ops is like trying to fly a plane into Chicago without functioning instruments at night. You may land somewhere in the region, but you definitely won’t make it to O’Hare. Meanwhile, with the right reporting practices in place, you’re much more likely to reach your target.

Unfortunately, one of the biggest challenges for RevOps teams that are bringing Sales and Marketing capabilities together under the same roof is finding alignment around what data to report on and why. For so long, Marketing, Sales, and Customer Success have operated in siloes that are almost at odds with each other—and that just doesn’t make sense when both teams are focused on the shared goal of growing revenue. While working together to find the right reporting tools will be a big part of finding that alignment, there are a number of conversations that need to happen before that point.

To help you guide your RevOps team through those conversations, this Tough Talks Made Easy takes a look at the value of reporting and having the right tools in place. Let’s get started.

 

FIGURE OUT WHAT YOU WANT TO REPORT ON 

The first step is going to be getting alignment on what your team’s key performance indicators (KPIs) are. These are metrics that should a) ladder up to your overarching business drivers, b) align your Sales and Marketing teams to pursue the same results, and c) facilitate the collection of actionable data that prompts decision making.

Make sure that this starts out as a collaborative conversation between Sales and Marketing, and involves Customer Success when it also makes sense. So often, these two (or three) sides of the RevOps coin fall into an unconstructive blame game when things aren’t performing as they should. Bring all teams to the table and have a mediator that can connect the dots between their goals and define what “good” looks like, collectively.

When we’re talking about RevOps KPIs, conversion should be at the heart of that conversation. At the end of the day, quality is more important than quantity: it doesn’t matter if you have 1,000 qualified leads if none of them become customers. Another important goal for the team should be around increasing customer satisfaction, as returning customers are another key source of revenue.

 

HOW TO CHOOSE THE RIGHT REPORTING TOOLS 

When it comes to reporting tools, there are as many options out there as there are constellations in the sky. Knowing that, and the fact that your business is unique in its needs and structure, it wouldn’t be useful for me to give you a specific set of tools to adopt. Instead, as you work with your team to figure out which tools make the most sense for you, here are some things to consider:

  • What role will that reporting tool play in your tech stack? Think about the data you need to help you make effective decisions, and what tool can help you collect and report on that data in a way that’s actionable.
  • What technology do you already have? When I help a customer build on their tech stack, the first thing I want to do is understand the native systems that are already creating data (e.g. a marketing automation tool, a CRM system, Google Analytics). The reporting tools you choose should be able to integrate with these systems and pull (or push) data as needed.
  • What output are you looking for? Whether you need detailed reports for your boss, or a simplified presentation to take to your executives, you should consider tooling that provides the outputs you need without adding unnecessary work to your plate.

Once you talk through these considerations with your team, you’ll have the right key criteria to identify and evaluate the reporting tool that makes the most sense for your business.

 

THE TAKEAWAY

I’ll say it again, reporting on performance is a key component of MOPs or revenue operations. Going back to the plane metaphor: today, we have so many teams missing their target destinations because they don’t have the right tools to direct them or tell them where they are in the first place. With the right insights in place, marketing and sales teams can continue to improve their efforts and meet their ultimate goal—delivering the best possible product and experience to their customers.

Need more help finding the right reporting technologies for your team? Get in touch.

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