Sales and Marketings success is in the statistics, let’s take a look at the efficiencies that could be gained.
What would you say is the % efficiency that could be achieved when it comes to sales outcomes when your sales and marketing teams are aligned?
The answer is around 67% increased efficiency. That’s a massive number.
Consider that 67% in terms of sales – let’s just look at that number on face value.
To do that let’s assume efficiency = hit rate.
Today let’s say you work 100 leads per month and on average close around 40 of those leads per month.
By better aligning your sales and marketing activity and teams you could increase your hit rates to around 66%.
If each closed deal is around £5000 this uplift would be an increase of £130,000 if you get your sales and marketing team to do what they should be doing and talk to each other.
Break down the barriers of sales and marketing teams, having them put down the metaphorical weapons and work together to achieve more sales.
This is not easy to achieve but is often achieved via clear leadership and clarity regarding role purpose.
Take time to consider the behaviours you expect, the purpose of the role and how you will measure success.
The marketing department will look good.
Marketing departments are often hesitant because they don’t want the sales team taking the credit for their hard work.
We all know that “success has many fathers, but failure is an orphan”.
Aligning the sales and marketing teams’ the statistics show us that companies gain 209% more revenue from their marketing activities alone.
That replaces the opposite statistic highlighting that when departments aren’t aligned 60-70% of marketing material goes unused.
So next time your marketing manager sounds slightly hesitant point out the opportunity to save money and make more revenue.
Marketing puts the fuel in the tank, while sales drives the car.
57% of executives will come to a decision before they pick up the phone or message a sales representative.
This tells me we need to let the marketing team do what they do best and find the leads your sales team can’t.
Take time to consider that 57% of the sales you gained within the last 12 months wouldn’t have existed without your marketing team.
Purposeful marketing will influence that hidden and silent audience for your sales team to follow up on.
Working together drives customer retention.
Where in your business does customer retention fall?
The marketing team?
Is it in the marketing department, driving brand loyalty to the point where someone believes moving to another brand or business would be a step backwards?
Consider Coca-Cola’s marketing strategy, we’ve all tried Coca-Cola so theoretically there is no new audience to market to, but their brand presence keeps us buying.
The sales team?
Is it the sales department, calling, making sure everything is well and trageting upgrades or additional product sales?
Consider when you buy a car from your local dealership.
Even though you’ve bought the car on a 4-year lease the sales manager is calling you after 2 years offering you a newer model.
The aftersales team?
Is it the aftersales team, offering support to someone if they have questions or help regarding the product they purchased.
Great for those that need the support, not so great for the business if everything goes well, as your business will quickly lose contact with that person and can be forgotten.
Customer retention is a joined-up sport
By aligning these 3 departments, or 2 if you don’t have an aftersales team, you’ll be able to target existing clients helping achieve up to around 36% higher customer retention.
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