Effective Rev Ops and Analyzing Lead Closing Time with Gilles Meiers, VP of Revenue Operations at LumApps
In this episode of Sales Ops Demystified, Tom Hunt and Alex Freeman are joined by Gilles Meiers, VP of Revenue Operations at LumApps. They discuss sales enablement prerequisites, how to make revenue operations more effective in 2022, and how to analyze expected lead closing time.
From project management to sales ops to the rev ops
After completing his Bachelors in Engineering Physics, and during his Masters of Engineering in Computer Science and Internet Management, Gilles started his sales journey in 2007 from Cifap – Pixmania as a Project Management Teacher.
This was where he developed his love for sales and its relevant functions. Pursuing his passion for sales; In 2014 Gilles joined Global Innovations as Executive Consultant, Business & New Market Development. At Global Innovations, Gilles explored and learned core sales functions such as developing go-to-market, customer acquisition, and growth marketing strategies that led him to his next role at wizy.io as a Head of Sales and Operations in 2016.
Later on, in 2017 Gilles joined LumApps, as VP Revenue Operations where he currently works.
Sales enablement prerequisites
Data segmentation and streamlining and upgrading technical stack. Both of these measures/action steps are interconnected and result in efficient sales enablement.
Date segmentation means that an organization should process all the available data and segregate it into different segments for decision making and technical stack means the tools a sales organization uses to process the data. The more advanced and relevant the technical stack is, the better the analysis.
Revenue ops team at LumApps
LumApps’ revenue operations team consists of twenty-five sales reps and ten CSM (customer support managers) that generate approximately ten billion annually in revenue.
Furthermore, to ensure efficient sales enablement, LumApps has five personnel, who are placed as two people managing tech stack, two on marketing management, and one business analyst.
How to make revenue operations more effective in 2022?
- Understand the customers through data analytics to forecast
- Standardize the sales process through analyzing the opportunity stage, value, and execution possibility to deliver sales and revenue goals
- Develop a standardized sales calling procedure for the ease of sales reps
- Transmit the right information to the sales reps such as keeping pricing, packaging, and other updates all in one place
- Conducting in-person sales meetings quarterly or bi-annually
How to analyze the expected lead closing timeline?
LumApps provides B2B solutions for SMEs, where the sales cycle lasts from six to nine months before a deal closes and gets into the execution stage. LumApps employs the following steps to analyze the expected sales cycle and current stage of each lead;
- Use the tech stack to analyze historical data of the customer (in case of a new customer, analyze the relevant customer from the past)
- Calculate the average time spent in the opportunity stage (negotiation) on same natured leads in the past
- Balance and target your attention towards the leads based on its expected closing time to meet up to the sales forecasts and expectation
The evolution in rev ops in 2022
In 2022, there will be more emphasis on AI conversion tracking, automated emailing, and gifting, which will transform the way we look into rev ops today
In 2022, alongside rev ops, AI and automation will level up the roles of sales reps as well.
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