It’s no secret that strong alignment between sales and marketing teams tends to be the exception rather than the rule. Despite the fact that there’s so much crossover in their day-to-day functions, the two teams are often divided by competition and internal politics – as well as separate, often contradictory, goals and metrics. In fact, as many as 76% of marketers admit that they’re forgetting sales enablement.
Our latest infographic, which you can check out below, carries some fascinating data about the benefits your business can unlock when sales and marketing work together.
For example, did you know that aligning sales and marketing could generate up to 208% more revenue for your business? It’s also proven to help aid growth, increase sales and retention, and improve your effectiveness in closing deals. Check out the infographic for more eye-catching stats and figures…as well as some ideas on how to get started with sales and marketing alignment in your own organization.
- By aligning sales and marketing, your company could generate 208% more revenue.
- B2B organizations with tightly aligned sales and marketing operations achieved 24% faster three-year revenue growth and 27% faster three-year profit growth.
- Organizations which align sales and marketing functions enjoy 36% higher customer retention rates and 38% higher sales win rates.
- When sales and marketing teams are in sync, companies are up to 67% better at closing deals.
- 76% of content marketers are forgetting sales enablement.
The cost of misalignment
- It’s been reported that HALF of sales time is wasted on unproductive prospecting…but at the same time, sales teams are ignoring as many as 50% of the leads passed to them by marketing.
- 61% of B2B marketers send all leads directly to sales; however only 27% of those leads will be touched by sales.
- Just 56% of B2B organizations validate business leads before they’ve passed to sales.
- 68% of B2B organizations have not identified their funnel.
The game has changed
80% of B2B purchase cycles are completed before the buyer considers contacting the vendor. This means that, increasingly, it’s vital to create content that engages the right target audience and generates high quality leads.
Sales and marketing misalignment means:
- Marketing may not be creating the right kind of content – they lack the intimate customer/buyer knowledge that sales teams often have. Their investment in content, then, generates less leads.
- Any leads that are generated either a) aren’t passed on at all, or b) aren’t properly followed up by sales. The net result is the same: they don’t convert into sales.
- 60-70% of B2B content created is never used.
- 79% of marketing leads never convert into sales.
- Did you know: 95% of buyers chose a solution provider that ‘provided them with ample content to help navigate through each stage of the buying process.’
- Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate.
- Businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads.
- Increasing customer retention rates by 5% increases profits by 25-95%.
- Nurtured leads make 47% larger purchases than non-nurtured leads.
How to align sales and marketing functions
Set mutually agreed goals and definitions. For example:
- What constitutes a lead? What constitutes a qualified lead?
- What processes can be put in place at each stage?
- What are the key metrics for both sales and marketing teams, and how do these goals support each other?
- Remember: goals should always be aligned and measured by the same metric.
Encourage and facilitate constant, open communication
- Weekly collaboration sessions
- Feedback from sales team on lead quality
- Product updates
Build a sense of connection between the teams
- Celebrate the joint wins – this is great for developing a sense of shared purpose.
- Consider providing opportunities for marketing people to shadow your sales team, and vice versa.
- This helps them understand each others’ problems, challenges and opportunities. The better they understand each others roles, the better they can help.
Integrate sales and marketing software
- One of the biggest obstacles to alignment is the use of disparate systems without sharing data.
- Integrating your software gives your whole team a powerful overview of the entire buyer lifecycle, meaning everyone has access to the full picture.
Run marketing campaigns that support sales
- A direct way for marketing to support the sales function. Whether it’s lost deal campaigns or cold-lead drips, these are a great way to bridge the gap.