Businesses all around the world are suffering due to the absence of alignment between sales and marketing.
This imbalance costs firms more than a trillion dollars annually.
Yeah, that's true! Not even a million dollars or a billion dollars. But $1 trillion!!! (twelve zeros).
In truth, misalignment between sales and marketing is the leading cause of a company's annual profit being stagnant & worse, and loss.
That is such a popular topic that Software-as-a-Service (SaaS) enterprises with more than 200 workers have placed it as their third most important branding priority – in front of analyzing marketing ROI and lowering financing costs.
Even the slightest misalignment between sales and marketing teams is a wastage of money and resources. This budget covers 60-70 percent of unused B2B content, and around 75 percent of promotional leads rarely turn into revenue.
If that sounds relatable, it's time to tackle the marketing and sales alignment issue, as we did. Because if you wouldn't, your company is unable to thrive more.
So, how do we effectively align both sales and marketing teams?
The answer is simple: Smarketing.
What is Smarketing?
Not only a mash-up of sales and marketing jargon.
"Smarketing" refers to a company's ability to have one department that collaborates smoothly to win more sales. Because when sales and marketing are merged rather than separated, monitoring outcomes and executing high-impact improvements is much easier to grow your client base.
Make it a habit for sales and marketing to meet regularly.
Increase the number of connections between sales and marketing.
Combine marketing and sales desks to offer a variety of feedback between marketing and sales.
Concurrence on terminology
Make use of data to speak
Smarketing is more than just a cool phrase or a new way of saying what we already know. It is a complete change in mindset.
In reality, there is a difference between being a "Top Notch" leader and being a mediocre leader!
That's right, 95 percent of "Top Notch" sales leaders are marketing-aligned. But, when compared to normal leaders, only 35% of teams are connected. So, what does "Top Class" provide to your business?
Aberdeen Group discovered in their CMO's Agenda research that by properly aligning marketing and sales, you could:
Boost your revenue by 32%.
Improve customer retention by 36%
Increase your win percentage by 38%.
According to the study, high alignment leads to better brand recognition and typical sale size.
Marketing and Sales Alignment Story at Norders
2018 was indeed an important year.
Sales representatives were upset with the quality of sales-ready prospects that were rolling in. While marketing was so done with sales' reasons for not following up with the prospects we got. As a result, the lead handoff became a source of conflict between the sales and marketing staff.
Norders, along with our marketing company clients, faced the issue of marketing and sales becoming disconnected. So sales were doing outreach and activities, while marketing was developing content and campaigns that had nothing to do with sales.
Marketing was creating irrelevant prospects for sales, while sales were generating prospects that the marketing team couldn't handle. As a result, our marketing director and sales director were encountering trouble demonstrating ROI.
It was a lose-lose condition, and something had to transform.
Luckily for us, our marketing director and sales director took a new first step, and rather than a conflict between Marketing vs. Sales, they defined it as Sales loves Marketing. So, the topic "Marketing as a collective responsibility" was created.
The early emphasis was on linking marketing and sales alignment by using digital tools.
In came, the staff discovered about using advanced tools for automation activities, sales, and all. Then we planned a marketing strategy to share, interact, and become more prominent on social media to increase B2B sales.
Sales and marketing became much more connected. Now, they retain frequent meetings and discuss content, campaigns, digital tasks, and goals – such as:
What to post on social media and how frequently,
How to aim prospects and develop relationships
How to collaborate with potential customers,
All while allowing the world to see who we are as persons, as a company, and
Expressing our CRM and smile traditions.
We have a collective responsibility, and with that comes the opportunity to share achievements. This is a long-term approach, but we're already getting amazing results!
We've seen the following results since initiating our effort in 2018:
A 118 percent rise in business leads
A 61 percent increase in social media traffic to our sites.
A boost in monthly social media views from 1,000 to 10,000!
The best part is that our marketing director and sales director noticed an uptick in new revenue growth.
Within the first year, revenue climbed by 10%, and by the end of 2019, we estimate revenue grow by another 24%!
How about this to bring together the sales and marketing teams?
How to Align Sales and Marketing By Using Digital Tools
When we combined our marketing and sales alignment example tools, we had all our information in one location. When our data is spread over multiple systems that are not connected, we are returning to the siloed areas of marketing vs sales.
Here are some of the advantages we got by aligning marketing and sales tools and information:
A comprehensive awareness of the consumer journey
Customer feedback from multiple viewpoints
It is now easier to cooperate on projects.
Because 68 percent of firms use automation in some capacity, aligning your automation technologies can help you get the most out of them.
You may either align marketing and sales tools or use an all-in-one CRM for marketing that serves both sales and marketing needs. Alternatively, you can combine the sales and marketing automation systems that you already have in hand.
Following are the digital tools we used to align our sales and marketing team:
Norders avoid having our staff work in data silos. Instead, we use a Pipedrive CRM to serve as the single source of truth for both the marketing and sales teams. While marketing has generally done an excellent job of lead generation. Sales haven’t always been the best at demonstrating how hard they've tried to get those valuable prospects.
When the sales staff registers every phone conversation, mail, and meeting into CRM for marketing can see exactly how much work is put into each prospect. In addition, marketing will have complete insight into the effort put in for each lead by tracking completed actions.
We ensure that activity recording doesn't have to be difficult or time-consuming. We utilize a platform like CRM Sync to guarantee activity data is complete and correct. It also saves our sales staff 30% of their time.
Did you guys know that 88% of B2B organizations use content marketing as part of their entire marketing strategy? Does it match yours?
Moreover, according to a recent Content Marketing Institute research, only 32% of those firms have a documented methodology for content marketing implementation. In contrast, that figure is startling enough! What's even more shocking is the notion that businesses that adopt a content marketing strategy will be 60% more successful than those that don't.
Our content calendar ensures that all marketing efforts aim at the same objective, so we make it easily available to our entire team. Google Sheets was another excellent way to store our calendar because it allows several people to access and edit it in actual time.
In addition, a well-maintained content calendar enables marketers to see all initiatives to obtain a cohesive marketing plan of activity for marketing implementation.
At the very minimum, content calendars served as a repository for ideas, themes, and events. While this was an excellent opening for structure, a good content schedule will go over and over to include the following:
Topics having a specific owner
A prioritized list of which topics should be completed first.
An author, editor, publisher, and planner have been assigned to us.
List (and links to) the sites where the data will be published
Using the components listed above helped us in the creation of a practical content calendar that supports our team in staying on track and motivated.
Remember that the amount of information contained in a content calendar is totally up to you. In the end, perhaps the only reason for building one is to put those ideas and marketing plans into concrete campaigns. Therefore it shouldn't be too complex.
Our management teams play a crucial role in developing procedures that generate sales growth and provide value to customers.
However, rapid corporate growth frequently makes it difficult to prioritize efforts, report on what's effective, and scale systems to avoid wide-scale errors. As a result, workers that lack clear or regular methods end up manually organizing much of their work. Plus, they have to deal with repetitive demands and inquiries.
With Asana for Operations, our team developed and scaled workflows in accordance with the company's best practices. That workflow allowed our team to start tasks quickly and focus on the most critical goals.
By depending on Asana to keep our work orderly and simplified, our staff was over 20% better efficient collectively.
Here are some examples of how our operations team utilized Asana to scale sales strategy and increase performance:
Standardize impartial planning and monitoring in Portfolios.
With the latest Tableau connection, we can visualize real-time process data.
Forms could help us streamline job demands.
Using Rules, we could instantly triage and send requests to suitable people or projects.
Using Templates, we may establish best practices for vendor management, new hire onboarding, QBR objectives, and more.
With Approvals, our team established trackable, online data of crucial approval choices to avoid mistakes and job delays. After the basic actions had been completed, we used expanded, multi-step Rules to continue the job ahead. We leveraged Asana's new Jira connector to improve collaboration across production and web designer teams for the first moment.
For advertising companies and their clients, the most human-friendly social media platform. Kontentino allows our marketing firms and clients to work together smoothly when producing and reviewing social media content/ads.
As a result, material quality improves, mistakes or failures are prevented while posting social content/ads, and 40 percent of the time is saved on operating duties.
Following are the features of Kontentino, our team love the most:
Kontentino not only lets you create, edit, organize, and publish social media content, but it also helps you easily copy your posts for the other social media accounts you control with a single click. You may also swap between accounts and assets with ease.
There is a live post preview available. It displays all of our post formats exactly as they will be posted on a certain social network. Thus, allowing the broadest range of post formats.
There is a remark part available where companies and clients can interact, post-critical papers and data, and avoid the need for alternative communication options.
Another useful feature is the ability to store assets and ideas. Kontentino can also be used as a Dropbox or Google Drive alternative for saving graphics and generating post ideas.
Last but not least, Kontentino offers analytics that contextualizes data and provides an efficient way to see the highest-performing posts according to defined KPIs.
With the collective strength of Slack and Salesforce, workflows and income grow. Bring our sales representatives together with their data, sales strategy, and clients for faster development and stronger partnerships. Bring our employees, partners, and resources together in one spot to transform ideas into trustworthy relations.
Provide our teams and data a central location to collaborate and gain a unified, shared view of your consumers.
Securely engage with consumers and colleagues to develop deeper, more unique ties.
Collect client feedback on products and services and notify specialists so that action can be taken as soon as possible.
Communicate with stakeholders in relevance, using real-time dialogues in conjunction with key topics and papers.
To accelerate work, sync Salesforce records with Slack and instantly receive key deal notifications.
Slack allows us to seamlessly collaborate on brainstorming ideas, organizing timetables, and executing campaigns.
We could incorporate the most recent competitor intelligence and trends into your marketing plan with specialized channels for exchanging industry news and insights.
In Slack, we could collaborate more directly with our sales department to align KPIs and obtain marketing campaigns responses.
Activity Management and Attribution Platform
We observed that less than 5% of prospects routed from marketing to sales received the proper amount of sales activity across 160 firms and over $3.5B of the pipeline we monitor.
To put that into perspective, if we spend $25k on a campaign and create 384 leads (assuming a CPL of $65), only around 19 of those leads will receive the effort and attention they deserve. And it means that approximately $23k of advertising costs will be wasted (unresponsive prospect).
Sales and marketing can actually become best friends when they use a platform. Marketing gains visibility and insight into what occurs to their leads. So sales could provide feedback on marketing programs with the confidence that they have done their utmost to validate each lead.
By eliminating the unknown and clarifying data insights, both teams can invest more time doing what works instead of debating about what doesn't. It's a huge win for both marketing and sales.
Marketo, Eloqua, and Pardot are not just for retailers. In fact, marketing automation, when done appropriately, allows for marketing and sales alignment.
Marketing teams can support their sales counterparts in prioritizing which prospects to call first by employing lead grading. We also enjoy Marketo Sales Insight, which allows members of the sales team to see which pages a client visited and what information they downloaded.
"By giving sales visibility into a prospect's behavior on our website, the more our sales department adapted their messaging to the buyer's requirements," stated one corporate marketer. This has dramatically changed the way sales and marketing collaborate!
If you need to take things a step further, we recommend using a predictive lead grading service like Infer. Then, use behavioral data from your top scorers in your predictive lead scoring systems to maximize your win rating. It is another reason why automatic CRM Syncing is so beneficial!
How to Align Sales and Marketing: Components
Everything, including goals, roles, systems, and technology, must be in sync for a properly aligned sales and marketing department.
Marketing projects are typically lengthy, involving the establishment of a powerful brand and the generation of qualified leads. Our marketers examine KPIs and concentrate on boosting brand awareness, as well as scoring and developing leads over time.
On the other hand, our salespeople aim to meet targets, assist prospects in solving difficulties, or provide the special connection that somebody is searching for. They want to understand what the marketing people can do for them right away so that they can finalize the deal.
Sales and marketing departments often have quite different perspectives on their respective positions in the revenue-raising cycle. For example, the sales team is concerned with meeting quarterly targets, while marketing thinks that they are the only ones that think creatively.
The sales team is confused as to why they must develop their leads, while marketing says that sales neglect whatever marketing creates, and so on. Developing a shared concept of roles can support resolving these inconsistencies.
Aligning Systems and Technology
Account-based marketing (ABM) and marketing automation systems enable one-on-one engagements with customers rather than one person speaking to many.
To achieve the best outcomes, marketing must ensure that the approach, sales strategy, and vocabulary utilized to promote these initiatives are in sync with and collaborative with sales.
The Benefits of Alignment
Identifying the causes of the marketing/sales gap is more than just a mental exercise. Misalignment has a substantial influence on revenue, with missed sales and lost marketing dollars costing businesses $1 trillion every year.
In addition, a lack of alignment results in the loss of 60-70 percent of B2B content and the failure to convert 79 percent of marketing prospects into sales.
There are, however, positive figures for businesses that are working to align their sales and marketing teams.
Aligning sales and marketing might increase your company's marketing income by 208 percent.
Businesses that coincide with their sales and marketing teams are up to 67 percent more likely to complete agreements.
Businesses that successfully combine sales and marketing achieve a 36% increase in client retention and a 38% increase in win rates.
27 percent increase in profit growth
Data systems that are more integrated
Better marketing ROI viewpoint
20% increase in client lifetime value
Businesses that effectively align achieve dramatic results, with an average yearly profitability of 20%, relative to a 4% loss for those that are misaligned. When sales and marketing are on the same page, you can move customers through your pipeline more quickly.
With a plethora of working parts, it's easy to become overwhelmed by the challenge of finding the proper solutions to meet everyone's needs. Failure to do so, on the other hand, has evident and measurable effects.
Best-in-class businesses will try to build an atmosphere on how to align sales and marketing to produce income and secure long-term success in the future. By combining all of these technologies, you'll be able to gain thorough insights into what's truly going on in your organization. Marketing no longer has to look at selling and CRM for marketing as a black hole.
They now have all the vital insight they need to determine which programs and initiatives perform the most. The statistics clearly point to a conclusion: sales and marketing actions must collaborate to create long-term profit development.
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