It’s imperative for businesses to capitalize on every dollar spent on marketing. Sources of marketing must be continually evaluated and analyzed to address the changing needs of the customer. Doing a thorough analysis impacts both short and long-term return on investment and the impact of branding. All too often this is overlooked and the results of the investment in marketing are found to be frustrating.
In order to optimize all available resources and stretch the marketing budget, the sales team must be “in sync” with what the marketing approach is and how they can drive in new sales as a team effort. In addition to traditional marketing, we can leverage more opportunities in some inexpensive ways that will drive new customers.
Marketing research tells us that on average Sales Representatives fail to respond and follow up on 50% of the leads generated by marketing. Sales reps are often puzzled by why they have to generate leads? Marketing executives are simultaneously wondering why sales ignore their leads.
Who’s right and who’s wrong? Businesses that tightly align sales and marketing experience up to 35% higher customer retention and 38% higher sales conversion rates according to MarketingProfs. That sounds like a big WIN. How do we implement a strategy to get alignment between marketing and sales?
Here are three ways that sales and marketing can get on the “same page”.
Create a common sales funnel. Complete and accurate information about sales prospects and where they are in the buying process is critical. How many times have you contacted a company for a product and service and never received a follow-up? When this happens opportunity is lost. Close this gap with an openly accessed sales funnel.
Share accountability-have common goals that are known by all. Create a team meeting strategy where commitments to behaviors that drive results are the norm. This culture of accountability and transparency can set the framework for high employee performance and engagement.
Share planning-create your future plan and strategy together. When everyone feels their opinion matters organizational performance increases.
Through a culture of working together and aligning marketing and sales, your company will WIN. Marketing will create the right type of content and drive leads that enable your sales team to win more new customers and retain existing customers.