Hey, Toni from Growblocks here! Welcome to another Revenue Letter!
This weekly email is my way to share knowledge and build a community of people who love to learn more about growing revenue in a data-driven and scientific way.
Anything in particular you want to hear my thoughts on? Drop me an email, and I might use it in my next article.
As much as I might hate to say it, buying and managing software is a big part of the RevOps job.
So much so that we even wrote a chapter about it in our latest ebook.
I always say RevOps should focus on revenue-driving work… But the reality is, someone on your team will discover a new cool vendor.
Then it’s only a matter of time until you get that Slack message.
“Have you seen this? Can we get this tool?”
I’ve been there way too many times in my career.
And I’ve handled it wrong more times than I can count.
First, what not to do
From my experience, it ends up working out like this most of the time.
You go ahead and buy the shiny new tool (potentially because your reps asked for it, so let’s keep them happy I guess?).
Once you have that in place, you realize you have to roll out a process for it. Once that’s established, you have to teach people about the process.
And only then do you start to figure out how it maps to your strategy.
The result?
You end up paying a lot of money, add more headaches in your funnel, and potentially end up with some pretty shelfware.
Why do we buy software?
Instead of being reactive and buying what your reps are always asking for…
We need to re-think why we get new tools in the first place.
The way I see it, there are 2 reasons to buy software:
To reinforce a strategy
To drive a change in your organization
Neither of those approaches start with shiny new software.
Instead, it forces you to work out the strategy before you dive into the first vendor who calls you.
The right way to buy software
First, you understand what you need to achieve and call out what your goals are.
Are we expanding into the US? Do we need to dive into ABM?
Next, figure out who are the people you want to achieve that with.
After that, start laying out the process for how to achieve that.
And only as a final step you start to ask, what kind of tools do we need (if any?) to achieve that strategy?
By keeping your goals and strategy in mind from the beginning, you’re now less swayed by last-minute Slack messages.
And if you do open up your budget for a tool, it’s less likely to become shelfware anytime soon.
P.S. Speaking of software, I would love for you to check out what we’ve been doing at Growblocks lately. We took the concept of Sales Forecasting, but expanded it to cover your full funnel.