CRM & Marketing Automation | Sales & Marketing Alignment
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In a recent presentation at the #Techmap event I presented on Sales & Marketing alignment and how CRM and Marketing Automation can help with this process.
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CRM & Marketing Automation | Sales & Marketing Alignment
- 1. Bullhorn CRM Richard Young M:+44 7768876221 E: r.young@bullhorn.com T: @Richard_Y
- 2. Utilizing Content in Sales & Marketing Alignment @Richard_Y - #TechMap
- 5. Where Content Works Best
- 6. Where Content Works Best Qvidian says that the most used content is: Proposals Presentations RFPs 65% of Content is never used
- 7. So What?
- 8. Talking of Sales & Marketing Alignment • According to a 2010 report by Aberdeen Research, companies that are best-in-class at aligning Marketing and Sales experienced an average of 20% growth in annual revenue. • According to MathMarketing, alignment between Marketing and Sales can help your company become 67% better at closing deals, and generate 209% more revenue from Marketing.
- 9. THE AVERAGE TENURE OF A: – CMO/Marketing Director: 45 Months – VP Sales/Sales Director: 18 Months THE AVERAGE SALARY OF A: – Marketing Director: • £71,270 / $154,910 Year – Sales Director: • £68,515 / $148,200 Year • £30,051 Commission
- 13. Sales Persona
- 14. Sales Persona
- 15. Sales Persona
- 16. Sales Persona
- 17. “What we have here is a failure to communicate” MARKETING LEAD – Web lead, trade show lead, or inbound lead. Someone that marketing has “captured”. MARKETING QUALIFIED LEAD – You believe this lead is worth passing to Sales. You have done some basic qualification to see that there is interest. Are You Speaking My Language?
- 18. “What we have here is a failure to communicate” SALES QUALIFIED LEAD – Sales have engaged and found that they do need your products/services i.e. they have a problem you can resolve. SALES OPPORTUNITY – They have an active project and you’re helping them with it. It’s going on your forecast. Are You Speaking My Language?
- 19. Let’s Talk Pipeline • Website visits • Visits that convert into Leads • Leads that convert into MQL • MQL that convert into SQL • SQL that convert into Closed deals
- 22. Buyers Cycle Marketing Support Sales Cycle
- 23. Customers Matter
- 24. Marketing Automation meets CRM
- 25. TopTips for Sales & Marketing Alignment • Agree a common language • Agree measurement (KPI) • Build a Buyer Persona – and the Buyers Journey. • Ensure you support the buyer journey together. • When deals fall out of the sales process – recycle them.
- 26. Recommended Reading • 5 Reasons why CRM fail http://bit.ly/1iiTtye and how to solve them • MathMarketing on Sales & Marketing http://bit.ly/1F9C2Kj
Editor's Notes
- According to Content Marketing Institute these are the things that we measure content marketing on. According to Savo Group the US spends $20 billion a year on Content. Sirius Decisions (famous for the 67% of buyer journey) say that Enterprises spend twice as much as they think and startups ten times as much as they think on Content. So we’re spending a lot on Content and it’s only increasing, we spent 70% more last year than the previous year on content. It’s interesting to see Sales Lead Quality listed twice. So we can say Content and Sales are closely aligned…. Or at least when we ask people who produce content.
- And LinkedIn has become increasingly popular. The only warning I’d give here is that LinkedIn doesn’t play well with others. For example they have cut the API to all but 3 CRM systems – Salesforce, Dynamics and Bullhorn CRM. Even social tools like Flipboard have fallen foul of LinkedIn. LinkedIn is of cause the Business 2 Business social platform of choice for most people.
- Notice the top item here is in person events – human to human interactions. Webinars whilst digital can also include human to human interaction. That makes the top two items are human contact, where content supports that process.
- Now it’s a different source. I find this interesting as it is directly supporting the sales cycle and is very much focused on something the sales person delivers. As has been known for a very long time, only 65% of content is actively used by sales, and that comes from Sirius Decisions. Now if you look long enough you’ll see a lot of people citing 90% is unused by sales. Qvidian also say 49% of content is only somewhat accurate and only 21% can measure the ROI on content.
- Well so what… most people can’t actively show an ROI on content in relation to revenue. Most organizations make it difficult for sales people to find their latest and most accurate content. Yet content is critical to sales & marketing alignment. This alignment can become a great showcase for ROI on content.
- There are HUGE benefits to sales and marketing alignment. If you read the study done by www.MathMarketing.com in conjunction with Marketo you’ll see some absolutely stunning results. So this is the WHY you should do this. But it takes work and there is no silver bullet.
- This data is pulled from payscale. So you have a job much longer in marketing and your base salary is higher. It’s only commission that takes sales people over marketing. Remember when you keep being told it’s good to experiment? Well not for sales – they are one of very few people it effects in their pockets, they get paid less. So sales people are very serious about not messing with the pipeline and why they are so desperate for good quality leads. This also means they are adverse to change or experimentation – they are one of very few people that it will effect their take home pay. This discrepancy on how their paid contributes to the different approaches and can cause tension.
- Marketing people like to see themselves as the centre of a digital hub
- In touch with their prospects and customers, understanding their every need.
- When the reality is we just don’t have enough time to do everything that needs to be done.
- This is what most people see a sales person as – used car sales person, slick, out for themselves and uncaring about your needs.
- Whilst sales see themselves as charming, highly focused and obviously well dressed.
- And of cause the customers are always saying yes and if they don’t well it was never going to happen
- And the reality is that they to don’t have enough time to do everything they should be doing. You are in the same ship and you need to work together.
- The first step towards Sales & Marketing alignment is to understand the terminology you’re both using – what’s is the definition of an opportunity? Here’s a couple of definitions. The big thing for sales is going to be not all leads are created equally, and just because someone scores highly on a lead score doesn’t make it a suitable lead. I’m a classic example of that. I read a great many blogs and white papers, so score highly, yet I’m not going to buy. BDR – business development reps can really help with this. An initial light weight qualification.
- And the next steps for sales. Naturally at each of these stages you need to define what should be done, when it should be done and by who.
- All companies are looking for revenue. Everyone in the company should be responsible – everyone should be supporting the sales process. The reality is that the CEO doesn’t care about web hits in itself, it’s what web hits represent… building traction to get more eyeballs that convert to leads that convert to opportunities. Make sure the KPIs reflect the end goals not just the stepping stones. Marketing are commonly targeted on the number of web hits and “leads” they generate. People do what their rewarded for, if you only reward web hits, don’t be surprised when they don’t convert. Sales people need help with quality leads, not people who have no intention of buying. Utilize buyer personas (http://tonyzambito.com/) to engage with the buyers who fit your profiles for people that will buy. Even if their early stage, knowing that they are the right “type” of prospect will help your sales people to engage.
- Measuring your win rate can help. Why? Because if you measure the drop off rate from what’s considered to be a marketing lead to what becomes a sales opportunity you can see what . We often call this MQL to SQL. You will see how many leads progress. To low and it means you have a serious issue. To high and you’re sales people probably aren’t qualifying well enough. In fact if you should measure this at every stage of the sales cycle. Then you can see where people are struggling or doing well (best practice). That becomes an opportunity for marketing to help.
- Velocity – or the time it takes to move from stage to stage is another great metrics to consider. This is how long it takes to move along the sales cycle. Sales people are targeted on short term wins, at best it’s this quarter, mostly it’s about this month. So sales peoples attention spans are very short – because that’s the way their trained and rewarded. Marketing can seriously help at all stages of the sales pipeline. Looking for a decrease in win rates or an extended velocity at a particular stage is a very good way to see that there’s an issue, and it’s a great opportunity for marketing to help with content. Now imagine taking this win rate by stage and velocity and applying it by lead source as well….. You can now see which deals close the best and the fastest from which source. You can start to justify those more expensive events or of cause, it might make you reconsider.
- Here’s a quick overview of what you CAN do. As you move further into the sales cycle the types of content your engaging with need to change. What does this mean in practice, well your marketing automation engine needs to be aligned with your CRM. The sales guys use CRM and they run their opportunities through it. This should AUTOMATICALLY update your marketing system. What it also means is that your content needs to be aligned to support your sales process, not just increase web visitors. Unfortunately marketing aren’t targeted on revenue or SQLs, often its web visitors and number of downloads. That simply doesn’t work. Your CTAs become – read more of the web. In fact here’s a recommendation for you, go back and check your websites. Does it say read the next blog post or does it say, why not talk to one of our experts so we can help you? Sirius Decisions who originated the 67% of buyers journey is completed before touch sales have now said, that if your sales person engages earlier in the buyer journey then they are substantially more likely to win – why? Well to be frank, sales have known this for a long time, first in gets to set the agenda, they shape the conversation and can position your company as the leader. Letting the prospect decide is akin to someone reading medical journals online and telling their doctor what’s wrong with them. So here’s an example. The contact registers via a Marketo web form, when it gets enough “points” it goes into the CRM system as a Lead. The CRM system allocates it to a BDR who calls and qualifies. It’s then allocated to a sales person. The sales person contacts them and promotes to an Opportunity. This is good, you have a measurement point for alignment. The leads converting to an opportunity. That’s a win for marketing. You should also track how long it takes sales to get round to that. From here the CRM should update Marketo to let it know the STAGE of the sales process at each point it’s updated. This enables you to build workflow in Marketo to help reinforce your sales messages – value proposition. More over the CRM can promote to Marketo the job function allowing you to tailor items such as case studies by functional role so ROI for the CEO and CFO, cost of ownership and ease of deployment for the CIO and of cause business insights for all business orientated directors. As you know what their interested in and a good Marketing Automation system supports dynamic websites you can tailor the content they see on the website to help support that sales process as well!
- Now, it doesn’t just stop with the sales cycle. A modern CRM is also going to start delivering insights on your customers as well. This to should be linked to Marketo. Imagine a CRM that told you who engages with your employees the most and who from their side engages. Then overlays with conversation activity. This is a real indicator to customer churn, in my book, if they stop talking to me then their likely to churn and it represents an opportunity to give them some extra TLC. That’s not just from an account manager, if its flagged and pushed into Marketo, then you have the opportunity to engage with them from marketing as well. Invite them to that event, give them the VIP pass, show them you care.
- Now this is often seen as difficult. There is some complexity as most Marketing Automation systems simply have no concept of an opportunity, in which case you need to create a custom field. But really this stuff is not hard these days. The biggest barrier to making this happen is not the technology, it’s the people in your business. There are connectors that will plug into most systems and have a degree of alignment up and running in under 30 minutes. It can be that simple. You should be spending your time developing your business/content plan to support sales & marketing, not worrying over the tech.