What do your sales and marketing departments need to produce more revenue? MarketingProfs reported that organizations with well-aligned sales and marketing teams demonstrate 36 percent higher customer retention rates and achieve sales win rates that are 38 percent higher than in less-organized businesses. Clearly, sales and marketing should be aligned.
Furthermore, teams that are aligned, enabled and supported show an average of 32 percent in annual revenue growth. Can your organization afford not to provide sales and marketers with the proper resources and suffer a possible decline of 7 percent in revenue that affects less aligned companies?
But what does alignment mean, and how can you give both marketers and sales what they need to generate more revenue?
1. It’s about the target buyer.
Marketing and sales need to define and agree on the target buyer, together. Understanding the target audience informs the sales approach, marketing collateral, internal and external communications.
Key areas for agreement:
- Who is the target buyer?
- What do they do daily?
- What interests the target buyer?
- What motivates them to buy?
In a word, personas. This is the basis of any marketing campaign or lead nurturing program. Without consensus, campaigns and sales efforts fail to connect with the target audience.
2. It’s about the content.
Too much of the content created today goes unused, and yet marketers are still pushed for more content, but it’s not in the best interest of organizations to keep the wheels spinning and generating content that only goes into an archive.
When sales doesn’t use 60 to 70 percent of marketing content, approximately two-thirds of investment in content development—often as much as 12 percent of the entire marketing budget—can go to waste. How can you turn this around? How can you get sales to use the content that you spend valuable marketing time and resources developing?
Simple. Now that you’ve defined your audience, create messaging and content that speaks to them. Audit existing assets, improve what you can, and cut out (read declutter) the junk.
3. It’s about the tools.
How many times have you seen a few key decision-makers introduce CMS, CRM, Sales Asset Management, Sales Enablement and other systems without taking the time to inform themselves about how they will be implemented across the team? It’s common to experience pushback when the chosen tool fails to meet the actual needs and help sales reps.
Decision-makers need to be informed about how and where reps work and then provide the right tools to enable their processes, complement their workflows and speed up results. According to Salesforce’s 2015 State of Sales Report, high performers sell more with mobile.
Expectations have risen from sales and their clients, and mobile platforms can make communications and content sharing faster and easier. The speed at which prospects get their answers often determines a sale for either your organization or your competitor. Remember that 30 to 50 percent of sales go to the vendors first to reply.
4. It’s about process.
Sales and marketing must agree upon a set of conversion events and processes that flow from the top of the funnel, to closing a deal, to maintaining and expanding existing customers. Marketing collateral and lead nurturing must reflect the needs of the prospect at various stages, including the new trends of the self-researching customer that reduce the top of the funnel/awareness stages but require more insightful collateral on specific questions and use while prospects rapidly shortlist options and make their final decision.
5. It’s about metrics.
Peter Drucker once said, “What gets measured gets improved.” B2B sales and marketing leaders need accurate metrics to understand the factors that drive results and duplicate their success. The ability to identify successful marketing campaigns, discover new niches and trends, and better understand consumer behavior comes from collecting and reporting on critical data. The right metrics draw a roadmap to success.
These are only a few ways to empower marketing and sales to generate more revenue. The right tools and support can help make content more relevant, more likely to be used and shared, and ultimately help sales close more deals.