Welcome to the latest RevOps Co-op video interview! Camela Thompson sits down with Max Elster, Co-Founder of Minoa, to delve into the role of RevOps in value-based selling (Spoiler Alert! It’s a BIG role!). Max shares his insights on why there's often skepticism surrounding ROI claims and how RevOps professionals can strategically influence and measure these metrics.
I'm really excited to dive into today’s topic because it’s one that's incredibly relevant in our current climate. Max, let's start with why there's so much skepticism toward what a company claims their ROI is for clients.
"It's a good point. I think it is very frustrating when you see these numbers being thrown around. ROI is often seen in isolation, which is not effective. Academically, ROI looks at the benefit for the customer divided by the investment. However, this is a limited viewpoint. You can't just put that on a website; it requires a process to understand the customer's needs and link it to the benefit."
I completely agree. As someone who's been in product marketing, I've felt the pressure to justify budgets with tangible ROI. But let's do a thought exercise for our listeners. As revenue operators, you're technical buyers. Think about visiting a website and seeing a claim of three times ROI. Immediate skepticism, right?
Max, why does this skepticism happen so often?
"ROI makes sense when you collaborate with the customer. Just putting it on a website without understanding their business challenges leads to misconceptions. It's essential to work with the customer to build a sophisticated business case that includes their inputs."
There's a myth that marketers make these numbers up. And unfortunately, sometimes we do. But revenue operators are in a unique position to translate benefits into ROI.
Max, can you elaborate on why RevOps is in such a strategic position to identify how a product could impact customer metrics?
"RevOps has oversight of what's happening in the business and the priorities for evaluating new vendors. They understand the gaps and bottlenecks in the sales funnel and can identify where improvements can drive up win rates and deal sizes."
Exactly. RevOps can play a critical role in determining what infrastructure should be in place to measure ROI. How should they approach this, Max?
"RevOps should collaborate with product marketing, customer success, and sales leadership to simplify value propositions. By reducing complexity, they can make it easier for sellers and customers to understand the benefits. It's about aligning teams and defining clear responsibilities for refining the value prop."
Building a process is crucial. Sales should set expectations early and ensure it continues through to the customer success team.
Max, you mentioned the concept of a value loop. Can you explain that further?
"We call it the value loop, where value and ROI are ongoing conversations throughout the customer lifecycle. It starts from the first customer interaction, through pre-sales, and continues into post-sales with regular check-ins to ensure alignment and transparency."
That’s a great approach. It’s not just about hitting a checkbox; it’s about an ongoing process.
Let’s talk about the ROI or Value Loop.
"The value loop involves communicating a value-centered message from initial contact, integrating it into the pre-sales motion, and revisiting the agreed-upon business outcomes regularly. This builds trust and ensures that the promised value is delivered."
It’s fascinating how RevOps can drive such significant business impact through these strategies. Any final thoughts, Max?
"It's a great time to be in RevOps. The role is gaining much more influence in value-based selling initiatives, and it's exciting to see how it's evolving to become a strategic partner in businesses."
Absolutely. RevOps is proving itself as more than just a support function but a key strategic partner.
Thank you, Max, for sharing your insights today!
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