Alignment between marketing and sales is one key to improving business performance. Having your teams work together around one revenue cycle results in significantly improved marketing ROI, sales productivity and top-line growth. However, the challenge in aligning marketing and sales is departments have different goals and expectations of each other. For instance, marketing tends to focus on long-term objectives like setting a foundation with strong branding and generating qualified leads. In contrast, sales is focused on short-term objectives like filling monthly or quarterly quotas. Because having the teams work together on the same revenue-generating goals helps drive business success, you need to build in the right channels to develop a tightly connected team. Here’s how.
Align Sales and Marketing for Better Results
Unite Marketing and Sales With One Goal
Make marketing and sales accountable for one goal – increasing revenue – to build trust between the teams. You may call the blended team the revenue department. Marketing then has to deliver quality leads while sales has to follow up on them. The teams need to collaborate to understand the challenges of turning leads into customers. Marketing and sales must increase their number of leads, close more deals and shorten the sales cycle to meet monthly revenue goals.
Create a Lead Generation Strategy
Ask marketing and sales to work together to create a lead generation strategy. Implement a team of sales development representatives to maximize efforts. For instance, sales can look at web analytics data and offer suggestions to optimize pricing data. Marketing can use the information to calculate potential results of their actions. Marketing and sales can share ideas and uncover and fix revenue bottlenecks throughout the customer lifecycle.
Build a Revenue Cycle
Have marketing and sales replace the sales funnel with a revenue cycle. Although the sales funnel sorts interested parties down to leads, prospects and clients, it keeps marketing and sales in separate silos and prevents them from providing personalized attention that prospects expect. In contrast, a revenue cycle begins by marketing making your audience aware of your brand, developing a relationship with you and feeling they can trust you. Sales determines which leads are engaged, meaning they had a meaningful interaction with your company, which leads are targets, meaning qualified potential buyers. When it comes time for sales to contact someone, that person moves along in the cycle as an opportunity, who may conduct business, or a target, who needs further nurturing. Sales focuses on turning targets to opportunities and opportunities to customers to move your business forward.
Let Us Help Align Your Marketing and Sales Teams
Madison Resources can help align your marketing and sales teams by providing you with detailed profitability and operational analytics to uncover areas your company can improve in to increase revenue. Looking for better back office, ats or funding solutions? Contact us today to learn how a partnership with Madison benefits your bottom line.