By Simon Knowles.
For many organisations, marketing and sales departments are still struggling with poor lead nurturing and routing, multiple islands of data and a general lack of integration across sales and marketing which impacts sales effectiveness. To overcome these challenges organisations need to adopt what we call an integrated marketing and sales 2.0 mindset.
So what is what is marketing & sales 2.0?
1. It’s about aligning sales and marketing: By working with Sales to define objectives, strategy, target audiences and engagement levels. It’s about deploying marketing automation technology that enables joined-up sales and marketing across multiple customer engagement points. It’s about implementing a disciplined approach with repeatable processes and agreed metrics – and above all it should be linked to the sales funnel and relevant to the business.
2. It’s about optimising the efficiency and effectiveness of marketing: By delivering a marketing structure and workflow that is aligned to the customer buying process which moves away from the adhoc ‘spray and prey’ approach to an integrated intelligence-based marketing engagement programme. This leads to a more strategic delivery and ultimately a much better ROI on marketing activity.
3. It’s about optimising conversion rates. Many organisations do not track their conversion rates therefore it is not surprising that in the B2B world less than 18% of marketing-generated leads become customers and somewhere between 30-80% of leads (depending on the organisation) are assigned too early, not followed through or are simply lost. A marketing 2.0 methodology looks to implement and build on a marketing framework and map the buying journey to the sales cycle first; further it looks to implement 100% closed-loop lead management and put in place recycling methodologies so that prospects, once engaged, are never lost.
4. It’s about starting with a good understanding of your data quality and quantity (in relation to your overall target market) which is vital to understanding how you may achieve your marketing goals. A simple but effective data audit will help you understand the fitness of your data to undertake Direct Mail, eMail or telemarketing campaigns as well as identify significant gaps that may require further data to be purchased.
So how do you move towards marketing & sales 2.0?
To develop a revenue-generating marketing and sales engine requires a multi-touch, multi-activity approach as the buying journey is complex and no longer linear. All too often B2B organisations are not equipped to implement, manage or deliver to this. That’s why the Essential Edge and its strategic partners have developed either an outsourced 2.0 solution for clients or provide project based services for specific marketing and sales requirements.
So if you want to grow your business through smarter joined-up-sales and marketing, then please email firstname.lastname@example.org