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Alignment of Sales and Marketing - Nexsales Blog


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Alignment of Sales and Marketing - Nexsales Blog

  1. 1. A take on
  2. 2. In this week’s #B2BChat, sharing ideas and thoughts on sales and marketing alignment is the agenda.This presentation takes a Nexsales shot at answering the questions they have raised as part of theseconversations• Why is sales and marketing alignment difficult for most organizations?• Who should take the lead in the alignment process—marketing or sales?• What are marketing’s main complaints about sales?• What are sales’ main complaints about marketing?• What role do leads play in the effort to align marketing and sales?• Does automated lead management help or hinder sales and marketing alignment?• Should the marketing and sales teams share common goals and compensation plans?• How do you measure sales and marketing alignment?• How can sales and marketing alignment impact the bottom line?
  3. 3.  Incongruent goals:  Lack of shared, meaningful metrics:  Although sales and marketing teams are both charged with  As with incongruent goals, driving and sustaining dissimilar metrics, different business success, they often revenue targets, indefinite have goals that are sub-sets of reporting allow sales and each other marketing teams to go in different directions Disconnected processes,  People differences and technologies and data: teamwork challenges:  The Sales teams, most often, is  Sales is usually seen paid when the deal is closed concentrating their efforts in (as per incentives), but the building relationships on a Marketing teams, who are first hand basis responsible for handing over  Marketing on the other hand ‘Sales-Ready’ leads to dept, prefers automated and are usually paid a fixed salary scalable processes to be able to reach wider
  4. 4.  In a typical B2B Scenario, Sales should begin with listing down the targets and defining the objectives Marketing should allocate their work and targets depending upon the targets sets by Sales Only after a definite approval from the management including a sales and marketing representative, can both work together contributing to the regarded Firm Hence, in this collaborative process no one particular team may necessarily take the lead but both sales and marketing and expected to co- operate
  5. 5. The Debate over Quality & Difference over Lead Nurturing Quantity
  6. 6.  Connection Between Marketing and Sales: If Sales and Marketing are known to have something in common then that is none other than ‘Leads’ Leads have proven to bring the two departments closer in terms of setting similar targets and achieving them Sales needs to recognize that Lead Generation Management technology and content-based Lead Nurturing are best practices to achieving Above the Funnel goals To make these tactics successful however, Marketing must align to the way their Sales team goes to market
  7. 7.  If there is one solution that can help marketing and sales teams integrate, it is automated lead management Also, the sales and marketing automation software team together decide what would be the ideal lead score that can be considered sales- ready By doing this, the gap is further reduced and better alignment between both teams can be achieved Although this increases efficiency, it also reduces personalization to a certain extent hindering the sales’ high-touch method of approach
  8. 8.  Sharing common goals and compensation plans for marketing and sales is absolutely critical because it effects the bottom line This enables closeness amongst the two departments and may ensure a long term healthy relationship rewarding the company with desired returns But certain things have to be kept in mind while sharing goals and responsibilities:  Budgets allocated to the marketing department may depend on the revenue generated previously converted leads.  Individual compensation plans may be used as incentives differently for each respective department  Conversation of leads may include sharing incentives to both departments Hence, to safely conclude, sharing common goals and compensation plans may be a variable depending on the budget Also budget constraints may be set depending on profit or loss of the previously generated leads
  9. 9.  Measurement through all implementations is king. The effective mantra is to measure well and measure often When your marketing and sales software feed data into each other, you can measure a single grouped set of data This will enable your extended teams to know which approach, campaign, or materials is most effective This ongoing measurement enables the sales and marketing disciplines to work as an ever-improving team and helps alignment
  10. 10.  Aligning marketing and sales makes good business sense and ultimately improves the bottom line A study conducted on sales effectiveness found that companies that had strong collaboration between these two functions achieve higher sales effectiveness By improving marketing and sales alignment in a relatively quick period of time, the company can begin to reap the benefits of more revenue and profits For many companies this additional boon in sales more than justifies making the effort. Higher throughputs means the company is spending its money a lot more wisely than it usually did This helps cost-cutting in the appropriate lines Eg: Leads that haven’t been converted but have potential can be put back into the marketing funnel instead of being discarded
  11. 11. NexSales is a demand gen consulting and delivery firmAt NexSales, we enable complex sales and marketing solutions to help clients meet their aggressive growth needs by leveraging our deep domain experience, proprietary database and innovative technology. We provide solutions in the areas of database, lead generation, digital marketing and social media marketingWe’ve helped our clients achieve 30-80% growth in their sales pipeline while empowering them with leading edge practices.