Sales teams are becoming less elusive to their marketing contemporaries as the two start to work together. Companies merging their sales and marketing departments are forging a relationship that will generate on average, 208% more revenue for business.
Roy Chitwood, author of World Class Selling, quotes,
‘The ultimate goal of this integration is that by merging these two departments with the right attitude, interest and energy, using an effective sales methodology will have major impact on top-line revenue.’
As salespeople are constantly on the go, it may seem a challenge for the marketing team to keep up with the pace and they may lack the knowledge and expertise to issue a productive workflow and help the sales team effectively.
However, according to Hubspot:
27% of marketing leads are actually qualified. Meaning,
79% of marketing leads are never converted into a sale.
Disentanglement between these two departments is resulting in the loss of money for companies.
Time and money is wasted in chasing prospects that are unlikely to generate business and currently only 56% of B2B organisations will validate a lead before sending it to their sales teams. The poor rate of success only fuels the widening gap between the two departments as they are both seen as exclusive rather than combining forces to achieve the same goal. For businesses it will stunt growth and increase frustration.
Tim Riesterer, chief strategy and marketing officer at Corporate Visions Inc, noted ‘The biggest revelation for me is this notion that salespeople aren’t getting the content they need for the conversations that are most vital to selling success. So essentially, salespeople are least prepared for their most important conversation. It’s precisely this dynamic that’s driving something I call the conversion gap. Marketing and sales teams need to work together to tell an aligned, consistent story that connects the dots between your campaigns and your sales conversations in the field.
There are simple steps and processes to make this combination of forces a reality and all businesses should take this on board.
Set the same goals
Often sales and marketing teams have different visions when it comes to what qualifies as a lead even though generating revenue is on the agenda for both parties. These differences should be ironed out and a mutually agreed definition of a qualified lead is imperative in order to operate efficiently.
The same mutual agreement should be implemented in content creation. The sales team are often the first point of contact between a business and its customers. As a result, the sales team and copywriters need to combine forces to produce relevant content to effectively generate revenue. Setting business goals are integral to making this work.
Utilising the same metrics
The monitoring and careful consideration of customer reach is vital for the two teams as it determines the number of prospects that can convert to leads. The customer reach and response is a clear sign of whether the current sales and marketing strategy is working and whether changes should be made.
These metrics will be derived from social channels, email marketing and website traffic. The results will aid both teams to better their line of work and save crucial time on market research.
Velocity monitoring is also hugely important as it determines the effectiveness of the sales funnel, i.e., how quickly a prospect is converted to a sale. Again, this process enables monthly targets to be set, reveals any holes in the strategy and provides both departments with the opportunity to improve.
Arrange team meetings and sit together
As mentioned previously, within the traditional workplace sales and marketing teams do not have a consistent line of communication. However, it is vital when merging both departments.
Weekly meetings to discuss strategy, issues, shared goals and metrics are a MUST.
These scheduled meetings will iron out any concerns that would otherwise inhibit time, revenue and communication. It is also hugely beneficial to arrange prospect meetings and provide writers and social media departments with inside information on prospects and future clients.
It also goes without saying, (or in this case with saying) that the two teams should work in close proximity to each other to listen and absorb communication with prospects in order to work coherently.
Employ an effective CRM platform
Finally an effective CRM platform unites the work flow of both teams, enabling a culture of mutual support and transparency. The shared pipeline, monthly forecasts and weekly statistics provide the template for short and long term goals of the team. The CRM will make it easier to collate prospect information and streamline the process.
Implementing the above steps into your business will not only align your staff and create a coherent and highly productive working environment, but all will be working to achieve the same goals and increase your ROI. What more could you ask for?
PHIL SIMPSON, Sales Manager-Pardot summarises the joining of sales and marketing forces in style.
‘Imagine this: your B2B marketing and sales teams are working together, winning together, and selling more effectively than ever. Marketing sets sales up for the win and sales swiftly closes each deal with ease. Together, you step into each deal as the formidable opponent to beat, a force to be reckoned with’.