Jen Spencer, CEO of SmartBug Media, is looking ahead to the second quarter of 2024 with cautious optimism as many revenue operations leaders feel they may have made it through the worst of 2023. Despite some layoffs, the U.S. labor market remains strong, leading to a focus on performance metrics and refining skill sets for team members. The emphasis on operational efficiency is expected to continue as organizations aim for smart growth and success without over-hiring.
In terms of sales and marketing trends, deal velocity remains a top priority for RevOps, with a focus on adding efficiency to lead and customer processes. Micro metrics such as SQL-to-opportunity conversion rate and total customer lifetime value will play a significant role in evaluating business health over the next quarter. New logo growth may become a focus in Q2, and businesses may see a renewed emphasis on improving sales processes as the year progresses.
More thorough buying processes are expected throughout the quarter, with increased involvement from buying committees and additional requests for information and proposals. Sales and marketing leaders should be prepared for the rise in PPC costs and the need for smarter and more creative strategies to maximize ROI. The spring shuffle of sales and marketing leaders may lead to new team members inheriting unfamiliar tech stacks, making it important for new leaders to embrace, consolidate, and optimize existing technologies rather than implementing costly switches.
The effort to maintain and optimize current tech stacks can demonstrate fiscal responsibility and build trust with new teams, leading to a successful summer as 2024 progresses through Q2. The Forbes Business Council, a growth and networking organization for business owners and leaders, provides valuable insights and resources for those looking to qualify. Despite uncertainties and challenges, many RevOps leaders are looking ahead to the next quarter with hope and an emphasis on smart growth strategies.
