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Smarketing - Sales and Marketing Cooperation is Doable and Powerful

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Smarketing is when sales and marketing departments work together harmoniously. Companies that implement a smarketing approach achieve 400% higher revenue growth than companies that do not. Critical for B2B, the Smarketing concept was popularized by Hubspot. This presentation was created by Jay Baer and originally delivered for the Cisco 2016 Partner Summit. B2B marketers and B2B sales people should find this information of interest.

Published in: Business

Smarketing - Sales and Marketing Cooperation is Doable and Powerful

  1. CAN YOU SAY “SMARKETING”? SALES AND MARKETING COOPERATION IS POWERFUL AND DOABLE
  2. CAN YOU SAY “SMARKETING”? If you were an alien and observed how sales and marketing teams are structured today, you’d say:
  3. CAN YOU SAY “SMARKETING”? WTF?
  4. SALES AND MARKETING SING THE SAME SONG, DIFFERENT WAYS ➤They aren’t so different, but they are different enough that a lot gets lots in translation ➤They don’t really understand each other but they are forced to work together day-to-day like an arrange marriage, with expense reports ➤They sing the same song in different ways ➤Here’s how sales sings the song: straightforward, linear, classic:
  5. SALES AND MARKETING SING THE SAME SONG, DIFFERENT WAYS ➤And here’s how marketing sings the same song: experimental, buzz-worthy, and by wasting money on costumes:
  6. A LACK OF 
 SHARED UNDERSTANDING 
 BREEDS CONTEMPT
  7. “87% of the terms sales and marketing use to describe each other are negative. -Corporate Executive Board
  8. WHAT IF SALES AND MARKETING WERE ON THE SAME PAGE?
  9. THIS IS “SMARKETING”
  10. AND SMARKETING PAYS…
  11. “Aligned sales and marketing teams show 400% higher annual revenue growth compared to teams that are not aligned
 (20% vs. 4%). -Aberdeen Group
  12. THE 5 CRITICAL COMPONENTS OF SUCCESSFUL SMARKETING
  13. DEVELOP MUTUAL
 UNDERSTANDING 1
  14. DEVELOP MUTUAL UNDERSTANDING 1:1 ➤Lunch Buddies (pair up sales and marketing for monthly 1:1 lunches) ➤Marketing Shadow Day (sales people sit with marketers for a day, at their desks) ➤Sales Ride Alongs (marketers go to sales appointments or listen in on sales calls)
  15. DEVELOP MUTUAL UNDERSTANDING ➤Cross-functional experience is key. The best marketers have also been in sales.
  16. DEVELOP MUTUAL UNDERSTANDING
  17. DEVELOP MUTUAL UNDERSTANDING IN GROUPS ➤Weekly Smarketing meetings to check progress
 and find problems ➤Monthly executive sessions with sales and marketing leadership
  18. CAN YOU DO THIS?
  19. OF COURSE YOU CAN
  20. SHARE STRATEGY, 
 METRICS 
 AND REPORTING 2
  21. SHARED STRATEGY ➤Agree on target audiences and personas ➤Agree on funnel steps
 and stages ➤Agree on handoff processes
  22. SHARED DEFINITIONS ➤What is a “lead” ➤What is a “good” lead? ➤What is a “qualified” lead? ➤If there is a zebra in your office but one team insists on calling it a “striped horse” you’re eventually going to have issues
  23. “45% of businesses have a company-wide definition of a sales-ready lead. -MarketingSherpa
  24. SHARED REPORTING ➤Use the same system ➤Does marketing know what happens to leads? ➤Are duplicate leads flagged and discussed? ➤Can marketing determine revenue at the specific program level? If you can’t the “I know 50% of my marketing is wasted, but I don’t know which half” will come true
  25. COMMIT TO 
 MUTUAL 
 ACCOUNTABILITY 3
  26. MUTUAL ACCOUNTABILITY ➤Sales has to stop blaming marketing for
 lead quality ➤Marketing has to stop blaming sales for inability to close leads
  27. MUTUAL ACCOUNTABILITY: HOW TO ➤First, determine the activities and ratios necessary to hit company-wide objectives: ➤Leads > Qualified Leads > Lead Conversion Rate > Average Revenue Per New Customer + Contingency = Total Leads Necessary to Hit Objectives
  28. MUTUAL ACCOUNTABILITY HOW TO: ➤Next, commit in writing to how your team will contribute to this formula: ➤“Marketing will deliver 75 qualified leads per month, 
 per sales person” ➤“Sales will follow up with ALL new leads within 4 hours, and will make 5 closing attempts within 21 days of lead receipt”
  29. EMBRACE 
 NEW ROLES 4
  30. SELF-SERVE INFORMATION ➤Customers are always online, and have more information than ever at their fingertips ➤Zero Moment of Truth means customers need more information pre-purchase ➤Help your leads find you, instead of you finding the leads
  31. WHEN THEY’RE READY, THEY’RE READY Average customer reads 105 pages before contacting the company
  32. SELF-SERVE INFORMATION (WILL INCREASE OVER TIME) ➤Old marketing works less ➤Content marketing works more ➤Marketing is educating early-funnel customers in a way that used to be sales’ responsibility
  33. “I started my career as a sales guy in the nineties, when the funnel was controlled by the sales rep, who had all the information the prospect wanted, including pricing and discount options. Now 90 percent of it has swung to marketing. The game has changed a lot. -Brian Halligan, Hubspot
  34. CUSTOMERS KNOW THE BASICS (AND THEN SOME) ➤There are countless sources of information prospects can use to research purchases: ➤Company-created content ➤Third-party content ➤Ratings and reviews ➤Even customer service and support content on forums and beyond
  35. WITH THIS MUCH FREE INFO AVAILABLE, WHY FILL OUT A LEAD FORM?
  36. YOU DON’T FILL OUT A LEAD FORM UNTIL YOU ARE GOOD AND READY, RIGHT?
  37. SO WHY DO WE TRY TO CONVINCE OUR PROSPECTS TO BECOME A LEAD AT THE TOP OF THE FUNNEL?
  38. RELATIONSHIPS ARE CREATED WITH INFORMATION FIRST AND PEOPLE SECOND
  39. STOP GATING CONTENT AT THE FRONT, AND INSTEAD ASK FOR PROSPECT INFORMATION AFTERWARDS, IN EXCHANGE FOR RECOMMENDED NEXT-BEST CONTENT
  40. Don’t gate content here Gate content here
  41. GATING AT THE END, NOT THE BEGINNING, REDUCES TOTAL LEADS WHILE INCREASING AVERAGE LEAD QUALITY
  42. SALES HAS TO UNDERSTAND THAT PROSPECTS ARE MORE EDUCATED, SO WHEN SOMEONE IS READY TO BECOME A LEAD, 
 SALES MUST FOLLOW UP FASTER
  43. SALES’ JOB SHOULD BE EASIER WITH MORE EDUCATED PROSPECTS Sales’ role now Sales’ role before
  44. BUT SALES ALSO HAS TO 
 HELP MOVE PROSPECTS 
 THROUGH THE FUNNEL IN NEW WAYS
  45. SOCIAL INTERACTIONS FROM SALES CAN BE MORE EFFECTIVE THAN CAMPAIGN NURTURING FROM MARKETING
  46. “When a lead is developed as a trusted relationship of a salesperson in social media, that lead is 7 times more likely
 to close. -IBM
  47. MARKETING MUST 
 EMPOWER AND ENABLE 
 SOCIAL SELLING
  48. MARKETING MUST POWER AND ENABLE SOCIAL SELLING ➤Training and ongoing training ➤Software ID and rollout ➤Ad hoc counsel and support = a marketing-led “social media help desk”
  49. RELY ON DATA 
 NOT ANECDOTES 5
  50. ANECDOTES DESCRIBE ONE EXPERIENCE, NOT NECESSARILY A PATTERN OF BEHAVIOR
  51. WHEN SOMEONE USES AN ANECDOTE TO TRY TO ARGUE FOR AN ACTION OR INACTION, SAY THIS:
  52. “That’s an interesting story. How often does it occur?
  53. SMARKETING IS WORTH IT,
 BUT IT AIN’T EASY
  54. YOU HAVE TO WEAR THE “GET ALONG SHIRT” TO MAKE SMARKETING WORK
  55. HAPPY
  56. CURIOUS
  57. CATATONIC
  58. PSYCHOTIC
  59. CHOKED
  60. IF YOU LEAD THE SMARKETING INITIATIVE AT YOUR COMPANY YOU’LL FIND ALL OF THESE PEOPLE: HAPPY, CURIOUS, CATATONIC, PSYCHOTIC, AND THOSE THAT WANT TO CHOKE YOU
  61. BUT NOW YOU KNOW HOW TO MAKE SMARKETING WORK:
  62. 1.DEVELOP MUTUAL UNDERSTANDING 2.SHARE STRATEGY, METRICS, AND REPORTING 3.COMMIT TO MUTUAL ACCOUNTABILITY 4.EMBRACE NEW ROLES 5.RELY ON DATA, NOT ANECDOTES
  63. MARKETING HAS TO ACT 
 MORE LIKE SALES
  64. SALES HAS TO ACT 
 MORE LIKE MARKETING
  65. TOGETHER, EVERYONE WINS
  66. THAT’S THE POWER OF SMARKETING
  67. BIG THANKS TO MY FRIENDS AT HUBSPOT FOR POPULARIZING THE SMARKETING CONCEPT, AND CREATING A LOT OF THOUGHT LEADERSHIP THAT INFORMED THIS PRESENTATION

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