“Don’t go where I can’t follow!” ― J.R.R. Tolkien, The Two Towers
Sales and Marketing may be working together and on friendly terms, but are they pointed in the same direction? If not, your company may be experiencing revenue inertia.
We recently spoke with a VP of Marketing for a prominent Atlanta-based technology company and with an SVP of Sales for another technology leader. Both were doing a great job tapping the Marketing data from customer and prospect interactions as inputs to their Sales and Marketing efforts on a regular basis, and building business conversations around the inputs. But both of these companies are in the Marketing automation space, so they have a distinct leg up and insider perspective.
Many of the companies we talk to – even the highly sophisticated consumer Marketing machines – are not sure how to leverage the data they receive into effective, targeted Sales and Marketing initiatives. Sometimes they are not sure what data they need to analyze, much less how to implement it… although that insight could make or break their campaign.
Relying too much on technology and data – not on regular, action-oriented, *human* conversations – could mean your company is essentially chasing its tail and leaving money on the table.
To boot, the vast majority of companies we speak with are relying solely on the data to drive decisions about strategy, process, content and offerings. They simply do not have the time to stop and have deep conversations with buyers across their customer base. After all, they have quotas to chase! This is where the breakdown begins and when revenue inertia is accelerated. Customer conversations are vital to revenue growth.
So, consider: Do you know your buyers and how they buy? Do you have an accurate view of who your buyers are and what motivates them? Are your Sales and Marketing teams aligned in using the same messages and sharing/comparing inputs to message response? Are their efforts targeting the same buyer personas? Is there an agreed-upon rhythm and strategy to reach and engage customers, prospects and their influencers? Do Sales and Marketing have an established cadence to their conversations to drive collaboration and actionable communication?
And how about this: Was your Sales and Marketing strategy defined in the confines of a conference room… or in conversation with your customers?
Think about how you can reverse revenue inertia for your business by defining and executing on strategy and tactics that reflect what your customers need and want from your business, then make sure Sales and Marketing are aligned on the execution.
What are your company’s best practices for avoiding – or reversing – revenue inertia?