If you follow our Sales Benchmark Index blog, you have read our take on enhancing your Deal Desk to a Revenue Desk in the recent post “What Do You Do When Your Deal Desk Is Failing – Set up a Revenue Desk.”
Companies who have fully implemented a best practice Revenue Desk experience an astonishing estimated 5-12% overall sales productivity increase.
This increase is driven by:
Download the Sales Ops Functions and Descriptions Tool to outline the steps to follow for developing your sales ops charter, and to evaluate what sales ops functions to use, which to save, and which to throw out.
A Refresher: What is a Revenue Desk?
A Revenue Desk is a cross-functional leadership team that meets systematically to progress and maximize the value of opportunities currently in the funnel. This group of leaders includes representatives from Marketing, Finance, Legal, Engineering, Enablement and sometimes Product. The group meets twice a week and reviews large deals in the pipeline. These sessions are intended to leverage the full expertise of the leadership team. Decision makers are included to remove barriers earlier in the process. The team also provides strategic insight to maximize the long-term customer value. At the end of the day, the Revenue Desk’s central goal is to grow deals bigger and close deals faster.
A Revenue Desk Gone Wrong
The Revenue Desk is one of the most powerful weapons at a leader’s disposal. However, without proper design, this well-intentioned tool could quickly kill sales velocity and profitability. At SBI, a common mistake we observe is the lack of a clearly defined Revenue Desk charter. In most cases, this gap leads to the Revenue Desk being seen as little more than a “discount approval board.” In reality, the Revenue Desk should be responsible for much more than discount approval. In fact, the primary purpose of a Revenue Desk is to grow the size of deals and improve close rates.
For a Revenue Desk to be effective, a charter must exist that supports the following:
- The Revenue Desk must be respected internally
- The Revenue Desk must be composed of the appropriate team members
- The Revenue Desk must have a consistent cadence
- The Revenue Desk must be tracked by measurable KPI’s
- The Revenue Desk must be efficient
To ensure that your Revenue Desk maximizes deal flow and optimizes sales productivity, read on.
The Solution: A Defined Revenue Desk Charter
To prevent your Revenue Desk from becoming little more than a “discount approval board,” a Revenue Desk charter must be created. This charter will be owned by Sales Operations. As the head of Sales Operations, it is your responsibility to hold your team accountable to the fact that discount approval is just one of many purposes of the Revenue Desk. The primary purpose? To grow the size of deals and improve close rates.
As you build out your Revenue Desk charter, be sure to keep the following charter best practices in mind:
- Reinforce the Revenue Desk concept internally
- Ensure you have the right Revenue Desk team
- Maintain a Revenue Desk meeting cadence
- Track Revenue Desk KPIs
- Enforce a “One Meeting Limit” for a Deal Go/No-Go Decisions
These 5 best practices will provide you with a solid foundation for building out your Revenue Desk charter. This charter will ensure your Revenue Desk protects profitability and lives up to its primary purpose of growing deals and increasing close rates.
For further detail on how the Revenue Desk charter fits into your responsibilities as the Head of Sales Operations, download the Sales Ops Functions and Descriptions Tool .
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