Scalable growth is a complex and ever-evolving challenge in corporate environments.
To streamline revenue generation and facilitate growth, CROs and CMOs invest in cutting-edge RevTech solutions. These tools fine-tune complex revenue operations from start to finish. Business leaders are increasing efficiency across all revenue-generating activities by choosing RevTech solutions that align with their overall growth strategy.
In this blog, we discuss the insights from our RevOps experts to help corporate leaders to build a RevTech stack to drive results across the revenue engine.
How to Build a RevTech Stack for Scalable Growth
By leveraging a comprehensive RevTech stack, companies can equip cross-functional to maximize revenue opportunities, increase customer satisfaction and loyalty, and improve overall performance. Consider the following insights for building a RevTech stack to unify marketing, sales, services, and operations functions around scalable growth.
Select tools that cater to the overall growth strategy, not just one revenue stream.
Today's revenue engine is powered by a mix of RevOps and function-specific technologies. To increase revenue opportunities, these tools should work together to facilitate the entire revenue cycle from lead generation to realization. An integrated RevTech stack allows marketing, sales, customer success, and operations teams to work together to exceed KPI benchmarks.
That's why RevTech stacks must be designed around multiple revenue streams at the core. Thus, focusing the investment on a single source of revenue will not have a lasting impact on the overall growth strategy.
To design a stack around growth, companies should consider investing in scalable tools that fuel revenue across multiple streams, unifying tools that:
- Enable marketing teams to create personalized campaigns, track leads, and nurture them into revenue opportunities.
- Provide sales teams with insights to close revenue opportunities with ease.
- Offer customer success teams the tools to increase revenue opportunities by providing helpful advice and solutions.
- Equip operations teams with the visibility to coordinate and optimize processes.
For example, a specific revenue-generation tool integrated with the CRM can provide marketing teams with insights into high-conversion channels. This, in turn, can enable sales reps to follow up on qualified leads more efficiently and close more deals quickly. By tracking revenue data points collected from various channels, teams can more effectively learn about customer behavior and lean on insights to refine their respective strategies.
Prioritize a centralized source of truth for all revenue KPIs.
A centralized source of truth for all revenue KPIs is essential for an effective RevTech stack. It's not just about the technology but also about unified, accurate data. Teams need access to accurate revenue-related data quickly to make informed decisions.
To achieve this, companies should focus on investing in data intelligence tools that centralize data from all existing and new sources. This will enable them to create revenue-focused dashboards that provide up-to-date insights.
Data intelligence tools within the RevTech stacks should centralize revenue data from sources like HubSpot, Salesforce, Marketo, Okta, and Google Ads. This gives teams an integrated, holistic view of all revenue-driving KPIs and metrics, such as bookings, lead response times, engagement with content, and much more. Centralized data insights ensure that every stakeholder looks at the same accurate data.
Invest in automated insights and workflow optimization capabilities.
Based on revenue performance data, automated insights enable teams to quickly identify opportunities for growth and improvement and optimize operations for maximum efficiency. Automated workflows, such as contact segmentation and lead distribution, can drive efficiencies and improve sales performance.
When operating in sync, advanced RevTech tools can detect trends in customer behavior and suggest changes to improve performance. For example, HubSpot’s customer feedback software collects customer feedback, translates the insights into actionable reports, and feeds that data back into the CRM and other Hubs in real time.
Train stakeholders across all functions.
By monitoring specific KPIs and overall performance, every department – marketing, sales, operations, and services – can improve its specific function to amplify overall efficiency.
For example, sales teams should understand the customer journey and have access to data that identifies opportunities to grow a healthy pipeline. Services teams may use the same data to align their strategies to the market's evolving needs. Thus, every stakeholder must be trained and adequately equipped to leverage new tools.
By providing thorough training and resources like product documentation, user guides, webinars, and tutorials that walk users through the RevTech stack, companies can ensure that everyone is on board and actively using revenue-focused tools. This sets the stage for revenue growth and optimization across all revenue streams.
Build on an open platform to ensure seamless integration with other systems.
Teams need access to data across multiple systems to comprehensively understand cross-functional activities contributing to earnings. Revenue operations systems should be flexible enough to integrate with existing tech solutions so that teams can access insights from any source in any system.
RevTech solutions should all fit on top of an open platform that acts as an interoperable foundation for integrating new tools with existing systems and applications to ensure consistency. This will help eliminate silos and increase the accuracy of data across teams.
Consider HubSpot as the foundation of your RevTech stack.
RevTech solutions enable teams to develop and optimize revenue strategies while considering the ever-changing customer journey. From lead generation and management to marketing automation and forecasting, these tools focus on RevOps performance across all functional activities — from top-of-the-funnel content to a closed-won deal.
HubSpot's suite of advanced platforms is an excellent foundation for a RevTech stack, as it's designed to help teams streamline activities across all revenue cycle stages. The robust suite offers lead tracking and nurturing features, marketing automation capabilities, multi-channel campaign support, AI-driven list segmentation, advanced analytics and reporting, revenue forecasting, and more. These tools can easily plug and play with other solutions in the tech stack to bridge the gap between marketing, sales, and acquisition strategies and maximize growth.
By leveraging RevTech, cross-functional teams gain access to comprehensive insights and use them to exceed revenue goals. With strategic RevTech systems in place, corporate leaders are on their way to maximizing revenue potential and ensuring long-term success for their companies.
For more actionable insights into investing in RevTech to optimize operational agility, efficiency, and revenue generation across all functions, check out our new guide. "The Leader's Guide to Revenue Technology" dives into how marketing, sales, and services functions should leverage RevTech to succeed in a rapidly changing business landscape.