LearnCore is sponsoring TOPO Summit, where sales and marketing professionals come together to break down boundaries and strategize on how to improve cross departmental efficiencies and generate more revenue. We’re gearing up for two days of engaging discussions in the marketplace by exploring how sales and marketing can collaborate to generate more revenue.
Nearly all sales teams are constantly working on finding new ways to generate more revenue. One opportunity ready for the taking is more coordination of sales and marketing efforts. Both teams work towards the same goals, but they take very different paths to get there. Making tactical changes to improve collaborative initiatives between sales and marketing can lead to impressive benefits in terms of organizational efficiency and increased revenue generation.
Get started aligning your sales and marketing efforts with the following ideas:
Involve Marketing on Sales Calls
When marketing participates in sales calls they hear questions and issues directly from prospects. The additional knowledge helps marketing get a deeper understanding of the sales process and customer profile which can improve their efforts, and ultimately create more revenue generating opportunities. Create a process to regularly involve your marketing professionals in sales calls or other customer engagement opportunities so they can gain new insight into how their role could better support the sales organization.
Develop Relevant Content Together
Your efforts to involve marketing in sales engagements will broaden their understanding, which will also lead to better content. Purchase cycles are changing radically with the amount of accessible data online. 80% of B2B purchase cycles are now completed before a buyer even considers contacting a vendor. With more focused knowledge your marketing team can create content that will attract more prospects, generate better leads, and eventually grow revenues. Get your sales reps involved in the creative process to maximize its relevancy.
Create a Lead Quality SLA
There is a huge disconnect between sales and marketing when it comes to leads. Although it’s believed sales reps spend half of their time on unproductive prospecting, they ignore as many as 50% of leads provided to them from marketing. A major lack of trust destroying the potential revenue opportunity that comes from a more efficient lead generation process. Create a sales and marketing SLA that addresses lead quality requirements to increase trust between the two teams and streamline your process. When both teams understand what makes qualified lead, marketing can better target the audience and sales won’t have to spend as much time qualifying leads.
Deploy a Lead Nurturing Process
Not only does the quality of leads matter, but how they are handled is critical too. 79% of marketing leads are never converted into sales due to a lack of lead nurturing strategies. Engage your sales and marketing teams to collaborate on a funnel strategy that carefully engages and educates prospects through the buyer process, and improve the chance of converting to more leads into revenue generating customers.
Hold Regular Cross Departmental Meetings
It’s important to improve communication between sales and marketing. Holding regular meetings that involve both teams helps each department stay involved and up-to-date on relevant happenings. A lack of understanding of team responsibilities and roles can often lead to a build up of turmoil and resentment. Normalizing cross departmental communication is the best way to proactively prevent a negative relationship between sales and marketing departments.
Encourage Social Gatherings
Better culture leads to a more productive organization. Poor culture leads to disengagement, which costs US companies over $500 billion dollars every year. Schedule social gatherings that involve both sales and marketing teams to encourage bonding. Positive interactions outside of the workplace will help build a strong culture and lead to more synergy across departments, better productivity, and increased revenue.
Start taking advantage of easy revenue generation opportunities by getting sales and marketing to work together effectively. Better communication, outlined processes, and culture can turn sales and marketing interactions from draining to prosperous in a matter of weeks.
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