Integrating Sales And Marketing To Close More Deals
Whiles sales include the operations and activities involved in promoting and selling goods and services, marketing is actually the technique of promoting, selling and distributing a product or service. A lot of companies have separated sales and marketing but it actually pays the company more when these teams work together. Some of their functions overlaps and more value can actually be milked by combining both teams efforts.
According to a 2011 report by Aberdeen Research, companies that are best-in-class at aligning marketing and sales experienced an average of 32% growth in annual revenue compared to a 7% decline among their less aligned competitors. The main purpose of the sales and the marketing teams is to generate sales still and by combining efforts more profits and deals can be closed.
The sales team happen to be in more contact with the customers than the marketing team and this gives them the opportunity to know and understand what the customers really want. When these findings are well communicated to the marketing team , a better way of reaching and drawing more customers can be reached. By integrating both teams more synergy is produced and the customers can see that. Unliy when they work separately, their efforts might clash if one team is taking a route the other team is far from. The sales team could be selling what the marketing team have no idea about or the marketing team could be making claims the sales team have never head of. This will create confusion and tension in the company as well as among customers which will send them running. Integrating both teams also helps the sales team effectively tailor its approach to the customer. Most leads are not sales ready but with the marketing team sharing its buyer personas as well as buyer insights, the more personalized the sales approach are. This will in turn convert one time customers into loyal and referring customers.
Integrating both teams not only closes more deals but help them reach more goals. while working together , more data are filled and both teams can tailor their efforts collectively to reach more goals unlike when alone. Making it easier to organize, track and run focused campaigns. When they work together , data derived can be used to increase customer satisfaction, understanding as well as retention. For example, customer feedback which the other team may have gotten and not channeled to the right quarters is impossible because they are integrated. Making easier to adjust and make changes to improve customer satisfaction.
Hubspot recommends establishing a marketing-sales service agreement (SLA). Its 2015 report noted SLA leads to higher return on investment and correlates with budget and staff increases. Not integrating both teams is basically wasting of revenue potential i.e 10% or more revenue is lost annually.