When these two functions come together, communication barriers are broken and if done correctly, increases lead conversions.
Even-though sales and marketing is considered to be different functions in a company, one cannot survive without the other. Equally important, both bring different values to a company as a whole. The combination between the these two functions lies in the fact that they are sharing a similar goal; increase lead conversions. Marketers generate lead and sales team close the deal. Because they share a mutual objective, it is beneficial to keep your sales and marketing team close to increase lead conversions.
Sales depends on marketing for lead conversions, and marketing depends on sales to close those leads. If you are in a position of running a customer relationship management, either in operation, or part of sales or marketing team, there are certain CRM and data techniques that you should indulge with to encourage your sales and marketing teams to play nice, be close and actually love working with one another.
By integrating sales and marketing data, both teams can benefit from deeper customer insights - helping everyone become more productive and increase lead conversions.
Using Marketing CRM techniques sounds as though it oversteps the traditional boundary between sales and marketing. However, sales and marketing alignment brings benefits to the business as a whole which cannot be ignored.
Here are some benefits of the alignment:
Strong marketing support for sales - With sales and marketing alignment, business can enhance marketing support for sales and their interactions with the business will help marketing become proactive.
Enhance lead conversions and shorter sales cycle - With a real-time view of prospects, marketing will be able to judge which prospects are truly sales-ready and which ones need to be nurtured. As a result, through the alignment, only the best leads would be passed on to sales team, while marketing will continue to generate others till they are better qualified. From sales point of view, improved lead quality leads to shorter sales cycle.
Best lead management - Sales and marketing alignment offers better lead management by filling the gap between the teams involved in lead creation and follow ups. So, if 25% of the leads provided by marketing don’t turn into sales, the company has access to relevant data to evaluate where in the ensuing sales process a lead failed.
Sales and marketing alignment is key to any successful business. By developing a common agenda and establishing respect and trust between sales and marketing team benefits the business as a whole. The most effective way to build this relationship is by developing a common vocabulary. For example marketers need to ensure that sales executive is following up to the leads that is brought in, where as sales executive wants to make sure that leads coming in are sales ready.
Marketing and sales has a big gap that must be addressed. Marketing must take the initiative to give the two teams an opportunity to work together and fix the problem. There is no one to solve the problem amongst them. And the gap between marketing and sales damages marketing prestige and credibility, not sales.
Must Read : Why your retail business needs a CRM?