An alignment of Sales and Marketing has the potential to create the biggest opportunity within a company to see an increase in bottom line business performance. It can drastically improve growth, marketing ROI, and sales efficiency.
Unfortunately, Sales and Marketing departments are struggling to achieve this alignment because the Sales department is often considered to be merely the last step of Marketing. In today’s markets however, Sales teams are discovering that the buying process has changed and they need to collaborate closely with other departments.
“Aligned organizations achieved an average of 32% annual revenue growth while less aligned companies reported an average 7% decline in revenue”, declared Forrester Research.
To be aligned, Sales and Marketing must work as one, as customers are the priority, the departments need to partner to create a homogenous customer experience. They must agree on the target buyer, and communicate frequently to optimize the buying process.
“Organizations with tightly aligned Sales and Marketing had 36% increased customer retention rates and achieved 38% increased sales win rates” according to MarketingProfs.
Furthermore, the “big data” revolution has clearly reached the sales and marketing sectors. Big data has become key for sales and revenue growth and a key differentiator from the competition.
New technologies allow tremendous amounts of information to be collected and used for a better customer service. Although estimates may vary widely, research conducted by CSC expects a 4, 3 % increase in annual data generation by 2020.
Marketing functions can, for example, easily reach price optimization for a given product or service due to advances in big data algorithms. Salespeople are also adopting new data-driven methodologies to target high-value prospects. Predictive sales intelligence will provide better results than intuition; even the most unenthusiastic salespeople will be converted. Finally, Big Data is likely to help build existing customer loyalty, manage billing and payment and deliver targeted offers, according to a tech journalist.
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