Is there friction between sales and marketing in your business? You’re not alone. For many B2B businesses, it’s just starting to understand how much revenue they’re losing because of it. According to HubSpot, misaligning the two teams costs $ 1,000 billion a year due to wasted marketing efforts and low sales productivity.
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Is it really that bad?
HubSpot’s conclusion is based on research. 79% of the leads your marketing team thoroughly generates will likely never convert. At least, not until your sales team starts to maintain them properly! Carefully analyze their efforts: how many prospects are they in contact with? Chances are, only 20-30%. If the teams are lined up, you can expect the following results:
- 27% faster profit growth in three years,
- 38% more transactions concluded,
- 208% more revenue from marketing.
If the benefits have convinced you, so much the better. Now you need to take action to keep sales and marketing on the same page.
1. Identify problems and propose solutions
First, you’ll need to discuss the issues the two teams are blaming each other on (covertly or openly). To resolve them, they will need to communicate better. Here are the most common problems, their probable causes, and possible solutions.
|Marketing generates poor quality leads.||Marketers don’t know enough about buyers to create relevant content.||Sales should report customer satisfaction and prospect concerns to marketers and help them come up with content ideas.|
|Few supposedly good leads ever turn into sales.||Sales don’t follow leads properly and move on to new ones too quickly.||Marketing needs to work closely with sales to better synchronize follow-ups. They should contact each manager at least five times.|
|Marketing has no measurable goal and its strategy is inconsistent.||Marketers don’t know the statistics they need to link their actions to sales.||Sales should inform marketing of revenue goals, average deal size, and lead conversion rate so they can calculate the number of leads needed.|
|Sales and marketing disagree on crucial definitions.||It was never a question of what constitutes a lead, a qualified lead, an opportunity, etc.||Sales and Marketing need to meet and discuss the concepts that matter in their work.|
|There is no incentive for sales and marketing to discuss their goals together and cooperate.||The relationship between sales and marketing has not been emphasized enough.||Sales and marketing need to define performance metrics that have more to do with each other.|
2. Divide the sales funnel between the two teams
Once the two teams resolve the above issues, they will now need to work together better. Everyone should know what they are responsible for. This means defining the stages of the sales funnel and deciding who owns each of them and what goals they should involve. Get them to sign an SLA (service level agreement) to hold each other accountable.
For example, there should be a clear distinction between prospects who need more marketing attention and those who are already interested and need follow-up by sales. The buyer’s journey is not linear, so gray areas will appear. In these cases, a healthy discussion will indicate the right course of action.
3. Provide the two teams with tools that will reduce their workload
If sales and marketing are to discuss their issues and collaborate, they need the time to do so. Don’t let them drown in repetitive tasks that they could easily automate. Compare the software that supports the day-to-day work of both teams. If you’re not sure where to start, follow a comprehensive guide to the best proposition tools for each stage of the sales funnel.
- Sellizer.io – an example of proposal software
4. Activate closed loop reports
To function, your system must be in a closed loop. Aligning sales and marketing doesn’t just mean a seamless connection in the middle of the funnel. It also means that marketers need to be aware of what happened to prospects in the end.
CRM software will help them understand new customers (e.g. what marketing source they are from and what converted leads) and generate better leads in the future using automation software. marketing.
5. Use the saved time for weekly meetings and data reviews
By using automation tools, sales and marketing will have more time to develop a cohesive strategy and stick to it. It’s best if they have weekly meetings where marketers share information about campaign activity and plans. Sales should also report their actions, successes, and problems. A continuous exchange of written information could also do wonders for the alignment of the teams.
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Avoid drama and celebrate achievements together
Follow the above steps carefully and you will feel a breath of fresh air in your business. Now able to monitor their activity and results, your employees will be more data-oriented. Make the numbers around leads and sales clear to everyone so that marketing and sales can focus on common goals.
If you are interested in software that will reduce your sales team’s workload, you can try Sellizer for free (14 day trial).