ServiceNow, a powerhouse in the tech industry, recently showcased the incredible value of Revenue Operations (Rev Ops) through their impressive 2023 earnings. With a staggering $1.8 billion in net new Annual Recurring Revenue (ARR), reflecting a remarkable 26% year-over-year growth, ServiceNow attributes much of this success to their colossal Rev Ops team, consisting of over 500 professionals worldwide.
The Role of Rev Ops
While it's not solely credited to Rev Ops, the substantial investment in this team undoubtedly played a pivotal role in ServiceNow's achievements.
Key Components of ServiceNow's Rev Ops
ServiceNow's CEO emphasized that GenAI capabilities significantly contributed to their growth, with the SKU outselling any other new introductions in the marketplace.
Behind the scenes, ServiceNow's Rev Ops team played a crucial role in various aspects:
👉 Pricing Strategy
- Macro Level Insights
- 17 people dedicated to it
👉 Deal Desk
- Micro/Account Level Deal Strategy
- 65 people dedicated to it
- Ranging from Order Operations to true Deal Strategy
👉 Partner & Channel Operations Strategy
- Unlocking Network Effects
- 42 people dedicated to it
👉 Customer Outcomes
- Translating measurable success to Sales & Pricing Strategy
- 7 people dedicated to it
ServiceNow's Rev Ops team encompasses a variety of dedicated teams, including
- Market Segmentation & Analysis
- GTM Sales Analytics
- Regional and Industry-specific Strategy
- Product Analytics
- Customer Outcomes
- Field Operations
- Support Operations
- Sales Enablement
- GTM Systems.
While most companies may not require a Rev Ops team of ServiceNow's magnitude, there is immense value in analyzing sophisticated organizational structures. Such analysis can uncover areas that may be overlooked and provide insights for improvement. Even allocating a small percentage of an existing team member's bandwidth to Rev Ops-related tasks can yield significant benefits.
