Why Sales and Marketing Alignment Matters
Many companies experience problems with sales and marketing not being on the same page. And, it’s something that a lot of businesses are looking to solve – in fact, there are more than 1.5 million Google searches for it. There are several reasons why sales-marketing alignment has become increasingly important to companies – and a lot of it has to do with the bottom line:
- Misalignment between sales and marketing technologies and processes can cost B2B companies 10% of revenue or more per year.
- Companies that have implemented good sales-marketing alignment practices generated 208% more from marketing efforts.
- When sales and marketing are on the same page, businesses experience 38% higher sales win rates and 36% higher customer retention rates.
- Source: Hubspot
Clearly, sales-marketing alignment lends to a happier work environment and better communication, but it can also have a direct impact on revenue. Addressing the causes of these gaps and working toward a resolve is key for companies moving forward, especially if you want to stay ahead of your competition.
“The new reality is that sales and marketing are continuously and increasingly integrated. Marketing needs to know more about sales, sales needs to know more about marketing, and we all need to know more about our customers.”
— Jill Rowley, Startup Advisor and Social Selling Strategist
Why Misalignment Happens
Many people dismiss marketing-sales gaps as nothing more than a clash of personalities. The truth is, in B2B companies especially, the source of misalignment often lies in the daily go-to-market strategy.
- “Who is a good target account?”
- “What does a good inbound lead look like?”
- “How accurate is this company data?”
These are just a few of the questions that come to mind when tensions arise between the two teams. That’s exactly why addressing the root of these issues is key to solving sales-marketing misalignment.
Bridging the Marketing-Sales Gap
There are three main ways that companies can lessen the tension between sales and marketing teams and bridge these gaps to increase revenue:
1. Get rid of bad sales data
Data is key to outbound efforts, but many B2B companies know that organizing all of your company data together from multiple sources often leaves research and outbound efforts muddled and disorganized between sales and marketing teams. One vendor might be providing firmographics, another technographics. Another provides sales intelligence, while another gives you sales contacts.
It’s a common problem: According to Salesforce, even high-performing teams struggle with leveraging data from multiple sources. That’s why turning to sales and marketing solutions can help. These technologies synthesize data from multiple sources automatically so that you are always getting up-to-date insights when you need them.
2. Use good data to determine your best targets
According to Dun & Bradstreet, more than half of all B2B teams still struggle to identify and describe their ideal target. Many times, this happens because there is a lack of consensus between sales and marketing teams due to multiple data sources and no mutual understanding of an ideal customer profile (ICP).
A self-service sales and marketing platform can shift this dynamic by eliminating the costly and tedious efforts of data sourcing. Teams can literally build audience models within in minutes – not weeks or months. This gives salespeople and marketers the freedom and time to be laser-focused with account prioritization and pursue companies that are hidden outside of their funnel as well.
3. Bridge the gaps in your go-to-market strategy
The world of B2B marketing and sales moves fast – there is simply no option but to move quickly in your go-to-market motion. When inbound leads from a new industry or demographic show interest in your product or service, you don’t have time for hesitation. Taking this momentum to the next level with outbound calling and demand gen tactics is possible through:
- Expanding account-based sales efforts by identifying high-fit companies in new industries through relevant, clean sales data.
- Zoning in on your total addressable market (TAM) with up-to-date insights about every company in your B2B sales platform.
- Customizing your outreach with constantly updated sources, multiple locations, keywords and other criteria outside basic firmographics.
In this same token, sales and marketing teams have a lot of shared responsibility, especially with account-based marketing skyrocketing. In fact, as you can see from the illustration below, there is a lot more crossover between the teams thanks to a new buying funnel that’s focused on sales development representatives, collaboration on lead generation strategies and a renewed spotlight on the revenue cycle.
Rallying Around Your Prospects & Customers
Even with shared responsibilities, salespeople and marketers may still approach the company’s go-to-market strategy differently. However, there is one thing that they do have in common, and that’s prospects and customers. Companies have a lot of information at their disposal when they are making a purchase, and buyers feel more empowered about their purchasing power than ever before. Organizations must understand their buyers’ journeys inside and out, otherwise sales and marketing teams will have problems understanding how to change their outreach and messaging to meet their customers’ needs.
Through platforms like EverString, salespeople and marketers can quickly identify target accounts that are more likely to move faster through the funnel. It also allows both teams to focus on a top group of accounts, giving them more time to focus on messaging and outreach, or even branch into new markets and industries. Communication between teams is also optimized because everyone is rowing in the same direction – which is toward your best accounts.