Rewind the clock five years and you’ll find the bulk of all B2B organizations operating with separate goals for marketing and sales. Marketing drove leads, and sales closed them. When the business was healthy, everyone was happy. However when times were tough, each team pointed to each other as the cause. While this status quo inside the organization prevailed, customer behavior started to change, making the buying process much more complex. Fast forward to today, and the data clearly shows that buying trends have significantly shifted to digital channels, with 68% of buyers performing product research on their own. However, according to Accenture and Forrester, only 14% of organizations have prioritized the breaking down of barriers and silos between sales, service, and marketing. The result? A poor customer experience.
In order to maximize growth, sales and marketing leaders need to come together and align their functions with those of the customer.
Inevitably this means that both marketing and sales will remain engaged throughout the lifecycle of the customer, and increasingly both teams will use data in new ways. The key for these leaders is to:
- Align on a common set of personas, KPIs, and revenue strategy – When both marketing and sales have the same goals in place, tactics across both teams become aligned and will create a more personalized interaction. Each team understands how the other team will drive growth.
- Ensure good quality data – No sense in having unified KPIs if the data is garbage. Augment your product, if needed, to get the data that supports your efforts
- Create a revenue operations function – A complex buying cycle, whether an enterprise or a transactional sale, requires a revenue operations leader to define and measure performance across both teams. In essence, this role ensures measurement is a closed loop and enables collaboration to occur more freely while holding both teams accountable for performance. In addition, this role can lead the organization, selection, and operation of key technologies.
For marketing and sales leaders that are looking to delve deeper into how to best align their sales and marketing teams, the Marketing and Sales track at TiEcon 2019 will further explore what it takes for today’s marketing and sales leaders to break through and deliver growth for their businesses.
TiEcon 2019, the world’s largest technology-anchored conference dedicated to fostering entrepreneurship, will focus on the hottest areas in innovation, including sales and marketing, AI/machine learning, cybersecurity, blockchain, digital health and more verticals in addition to hosting flagship tracks on entrepreneurship how-tos, and young entrepreneurs.
Join us at the Santa Clara Convention Center on May 10-11, 2019 and learn from the world’s best minds—thought leaders, investors, mentors, and industry experts in trending technologies.
To learn more and register, click here.