Performance Metrics that all RevOps team should be tracking

Introduction

Revenue Operations (RevOps) is the intersection of sales, marketing, and customer success. This new function helps to ensure that your company's customers are treated well from the moment they sign up, through their entire journey with you—and even after they leave. These metrics should be tracked if you are using RevOps.

Customer Success Metrics for RevOps

A customer success metric can be any of the following - 

• Customer retention rate is calculated by dividing the number of customers retained in a period by the total number of customers at the end of that period.

• Customer lifetime value (CLV) is calculated by summing up all the revenue generated over a customer’s lifetime with your company and dividing that figure by their average annual spend.

• Customer net promoter score (NPS) measures how likely your customers are to recommend you based on their experience with you and whether they would buy from you again. Your NPS score is determined through a survey where respondents rate their level of satisfaction on a scale from 0-10 (0 being “not at all satisfied” and 10 being “extremely satisfied). Then those responses are aggregated into three categories: promoters (those who gave ratings above 9); passives (those who gave ratings between 7-8); and detractors (those who rated 6 or below).

• Customer acquisition cost (CAC) is dividing the total amount spent on customer acquisition in a period by the number of new customers acquired during that same period. 

Sales Metrics for RevOps

To be successful in the RevOps role, you need to know how well your team is performing. To do that, you'll need to track multiple key metrics. But if you're not tracking these, then it is likely that your RevOps team hasn't been able to demonstrate its impact on the bottom line.

• Number of leads generated: This metric measures how many new customers were generated from marketing campaigns or other sources during a specific period (monthly).

• Number of opportunities created: This tracks how many opportunities were created for sales during a certain period (monthly).

• Number of opportunities closed: This tracks how many opportunities were closed during a certain period (monthly).

• Number of deals won: This tracks deals won during a certain period (monthly), which includes both signed contracts and orders that haven't yet been fulfilled by the partners but have already been paid for by them in advance.

• Average deal size: The average deal size refers specifically to a company's average contract value per month over the last 12 months; this figure accounts for any changes in pricing structure made over time while still providing accurate trend data about the business's overall performance over time—which can help predict future needs at different price points before they arise unawares. 

In addition, knowing this number gives insight into whether one is meeting expectations set forth by management and insights into which products/services might be underperforming compared with others within their respective categories.

• Average revenue per customer: This metric is a combination of both the number of customers and their average spend per month. The goal here is to gauge how much revenue can be generated by the existing base of paying customers, as well as how much additional revenue can be expected from new prospects who are considering signing up for one or more of our products.

• Average revenue per customer is important for at least three reasons:

1. helps any company determine whether they’re meeting expectations set forth by management

2. gives insight into which products/services might be underperforming compared with others within their respective categories

3. help predict future needs at different price points before they arise unexpectedly.

• Conversion rate: This is one of the most important metrics that you should track. It measures the percentage of visitors to a website who eventually become paying customers. In other words, it shows how many people have signed up for the product or service after visiting the website (or some other channel like social media).

You can think of conversion rate as a measure of how well your marketing efforts are performing. If you have an effective website, then you should see a high number here.

Marketing Metrics for RevOps

• Website traffic

• Email open rates

• Number of people who convert from a trial to a paid account

• Qualified leads – These are leads that you’ve specifically targeted and have qualified through an inbound marketing campaign. For example, if you run an email campaign on your website, this is the number of people who signed up for it (via their opt-in email address) and then downloaded whatever content or resource they were given as part of that campaign. You can also count webinar signups and webinar attendances as qualified leads.

• Sales Accepted Leads – These are customers who have been identified by sales teams within your company, either through outreach or by contacting them directly via phone or email after seeing them on your website or social media platforms like Facebook Ads.

• Marketing-qualified leads – These are prospects who have reached out directly to sales reps (or other departments) asking questions about pricing plans before being invited in for an appointment with one of these employees for further discussion about what RevOps solutions might work best for them when considering implementing these solutions within their own companies!

Obviously, the more qualified leads you’re able to generate and convert into customers, the better off your business will be. This is why it’s important to know exactly what qualifies as a lead: what kind of contact information they have on file and whether or not they have any prior experience with RevOps solutions (and if so, how much).

RevOps leaders can ensure they are optimizing the customer experience while maximizing revenue by focusing on the right metrics.

As a RevOps leader, you can ensure that your team is optimizing the customer experience while maximizing revenue by focusing on the right metrics. Here are several key metrics that every RevOps team should be tracking:

• Sales Metrics for RevOps - This includes sales from both new customers and upsells from existing clients. It also includes any marketing spend used for generating these sales, including costs related to advertising campaigns and landing pages. While this metric may be most relevant for B2B companies, it's important to track it regardless of whether your company sells exclusively B2C or specialized products & services.

• Marketing Metrics for RevOps - This includes all marketing expenses associated with getting leads in front of potential buyers, including paid search campaigns and organic SEO efforts (if applicable). It also encompasses any costs associated with hiring outside agencies/partners who will help grow your audience's awareness of your brand or product offerings through social media influencers or PR firms—as long as these partners are working on projects that align with what need to happen within your business objectives.

• Lastly, it's important to track the lifetime value of a customer by looking at their average revenue per user (or ARPU) over time. This metric will help you determine whether or not your company is making enough money off each sale—and if not, why not?

Conclusion

Revenue Operations (RevOps) is driven by a philosophy that says we should be delivering value to the customer at every step of their journey with our product or service—and achieving revenue goals at each stage as well. This requires a data-driven approach where we measure what matters most so we can make better decisions. RevOps teams are responsible for optimizing every aspect of this experience so that everyone on your team can focus on what they do best.

In order to achieve this goal, leaders need to focus on customer service levels and customer satisfaction metrics such as lead gen activities or enhancement requests. These are just some examples of performance metrics that every RevOps team should be tracking in order to ensure they are optimizing their processes and improving revenue.