Why is it difficult for Sales and Marketing teams to work together effectively?
The misalignment of the two departments, despite the fact that both departments are important players in the revenue generation process, is a common problem. They often have different strategies, activities, and behaviors.
Businesses must bridge this gap to maximize revenue and improve brand experience for customers.
Influ2 examined 14 B2B companies to highlight the importance of aligning Sales and Marketing. These companies improved their bottom line by collaborating better in sales and marketing. Their efforts resulted in a pipeline of $500 million. This tangible result shows the enormous potential that Marketing and Sales have when they work together.
Aligning the two teams can be a difficult task. It is important to establish shared goals, metrics, and objectives.
This process is not easy, but it provides a solid basis for sales and marketing executives to work together effectively.
Why Aligning Sales and Marketing is Important
The cooperative marketing-sales approach shapes the way we buy today.
Modern purchasing is a compelling reason to align Marketing and Sales.
Analysts in the industry suggest that committees make many buying decisions today. These committees can be composed of 10 or more people. In the past, sales representatives would focus on developing deep relationships with only a few key decision-makers. Now, the emphasis is on engaging a larger group of stakeholders who influence collectively buying decisions.
This change results in a slower sales cycle and greater complexity.
Marketing-qualified leads (MQLs) are no longer the key metric for marketers. Marketers must not only raise awareness but also actively participate at the end of the funnel. They should extend their involvement past closed deals in order to achieve sustained success.
The future is omnichannel and hybrid sales models.
McKinsey says that combining digital and in-person methods across multiple channels will boost deeper and wider engagement. This is the best approach to B2B sales and marketing success. This approach can generate up to 50 percent more revenue than traditional methods.
Marketing can reach out to a wide range of departments and people on the purchasing committee in this environment (such as Marketing and IT).
Marketing and sales teams are able to maximize their reach by using cooperative plays and a multithreading strategy. They can tailor their approach according to the preferences and needs of their target audience.
Effective collaboration requires synergy.
After you convert your prospects into customers, you can grab new opportunities.
The techniques above can help Marketing continue to generate revenue after a lead becomes a customer.
The open communication channels between Sales and Marketing and the shared data among teams allow the creation of highly personalized programs that engage the buying team wherever they are on their buying journey, whether early in the process or after the purchase.
Marketing and Sales are able to improve their personalization and delivery of targeted messages by exchanging information and preferences about customers.
By gaining a deeper understanding of B2B buyers on a personal basis, sales and marketing teams can engage customers more efficiently, enhance the overall customer experience, and build brand trust.
By aligning efforts, both departments can create a united front that increases their impact.
Alignment Tactics
All these factors make it increasingly obvious that Marketing and Sales are rapidly evolving. To stay ahead of the game in today’s competitive business environment, it is important to combine the skills of these two functions.
To maintain this advantage, Marketing and Sales must continue to work together.
Organizations can use various tactics to foster collaboration:
- It is important first to establish a common vision and goals. This ensures that Marketing and Sales work towards a common goal. To facilitate the sharing of ideas, feedback, and insights, regular communication and collaboration platforms need to be set up. Encouraging cross-functional cooperation through joint projects and initiatives can also break down silos to foster a more cohesive work environment.
- Additionally, harnessing data and technology can enhance collaboration between Marketing and sales. By implementing shared analytics and reporting, both teams can access the same data. This allows them to align efforts and make informed decisions together.
- It is also important to foster a culture that values collaboration and respect. By rewarding and recognizing joint achievements and encouraging an open and constructive dialog between the marketing and sales teams, you can promote a spirit of collaboration and accountability. Cross-training and knowledge sharing can help to improve understanding of roles and challenges.