Marketing and Sales Alignment - Why Does It Matter?
By integrating sales and marketing data, both teams can benefit from deeper customer insights - helping everyone become more productive.
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 just a few of those benefits...
Improved data sharing
- Two-way data flow thanks to sales and marketing alignment ensures everyone understands your customers, regardless of pipeline set-up.
- Shared data in an integrated sales and marketing CRM system prevents the creation of "silos" - data that is kept within business units, inaccessible, unshared and frequently inaccurate.
- Data sharing between sales and marketing business units paves the way for greater data access across the business.
"It's the integration of marketing automation with CRM which creates a complete revenue picture and process."
"Within Best-in-Class companies: 40% of the sales forecasted pipeline is generated by Marketing, compared with 22% among Industry Average companies and 13% for Laggards."
Better understanding of customers
- Integrated sales and marketing CRM systems provide lead return functionality, allowing the sales team to return a lead to the marketing department for further nurturing.
- Customer segmentation based on preferences and purchase history can create finely tuned marketing campaigns.
- Historical records of preferences, purchases and communications allow for personalised service offerings in future.
- Tailored services foster better relationships with customers, helping to create greater brand loyalty.
"The primary reason driving our company to integrate sales and marketing efforts is to have marketing determine who our target customers should be so we can empower and direct our sales team to focus their attention on those opportunities."
Enhanced automation capabilities
- Knowing and understanding customers allows for the creation of automated pipeline triggers and moves prospects along the sales pipeline.
- Automating sales and marketing functions frees staff to focus on activities which require a human touch.
- Automating sales and marketing functions often prevents leads from going cold and potential sales being lost.
"36% of Best-in-Class companies use sales automation technologies, but the industry average is just 27%."
"81% of Best-In-Class companies say their number 1 reason for wanting automated sales platforms is to close sales faster."
Takeaways: what do you get from closer integration?
Closer integration between departments allows your business to share knowledge and experience to provide a better service to customers, new or existing. Keeping customers happy is crucial if you are to generate repeat business from them and their contacts. Or to prevent a bad PR issue.
"90% or more who are dissatisfied with the service they receive will not buy again or come back. Worse still, each of those unhappy customers will tell his or her story to at least 9 other people, and 13% of those unhappy former customers will tell their stories to more than 20 people."
Combining sales and marketing CRM also has a demonstrable positive effect on your company's bottom line:
"Best-in-Class businesses that integrate sales and marketing functions noted a 20% average growth in annual company revenue. The industry average was just 7% average growth. The worst performing third of businesses recorded a 4% average decline in annual revenue."