Prepare for a Journey of Hard Work, Open Minds, and Game-Changing Conversations
Get ready to turbocharge your revenue growth with these seven game-changing discussions! Picture this: a room filled with marketing and sales experts, all armed with curiosity and a rebellious spirit. Together, they embark on a forward-thinking journey to revolutionize your approach and win over your defined segments. Are you feeling the mojo yet?
Now, let's address the elephant in the room—alignment. It's time to debunk the myth that marketing and sales can't get along. We've all heard about the importance of this alliance for over a decade, but few have truly conquered it. Why? Well, let's face it, it's no walk in the park. It requires relentless effort that goes beyond the boundaries of job descriptions.
But here's the kicker: the benefits are simply too remarkable to ignore.
Take a look at these jaw-dropping statistics:
- B2B companies’ inability to align sales and marketing teams around the right processes and technologies costs 10% or more of revenue per year.
- According to the latest report from Forrester, B2B organizations with tightly aligned sales and marketing operations achieve 24% faster three-year revenue growth and 27% faster three-year profit growth.
- Aligning both sales and marketing departments can help generate 209% more revenue from marketing.
Who wouldn't want a piece of that success pie?
Now, we're not here to sugarcoat things. This hard work we're talking about. It's not for the faint-hearted. But we firmly believe that it's the secret sauce to catapulting your revenue growth. It's time to roll up your sleeves and dive into a series of structured discussions. Some may call them difficult conversations, but we see them as opportunities for growth.
Without further ado, here are the seven discussions we recommend. But first, here's a pro tip: to truly immerse yourselves in these discussions, we suggest taking them off-site and doing them in-person. There's something about a change in scenery that sparks creativity and fosters authentic and real conversations.
- Top goals and KPIs — Get laser-focused on your business goals by setting specific and measurable objectives for each. Choose one goal that plays to your strengths and where you can truly excel. Whether it's a competitive advantage in a vertical market, a product innovation, unique expertise, or strategic insights, leverage your strengths to drive success. Align your sales and marketing strategies to execute with precision and meet those objectives.
- Precision Targeting and Measurable Success — Select one key target segment that your company excels at serving, focusing on the specific problems they seek to solve. Define a unique value proposition that sets you apart in the marketplace. To gauge success and ensure progress toward your business objectives, establish key performance metrics that will move the needle. Track metrics such as customer acquisition rate, conversion rate, and customer satisfaction to measure your impact and drive meaningful growth.
- Unveiling the Blueprint of Your Ideal Customer — Unleash the power of understanding your ideal customer at a granular level. Building upon the insights gained from discussions #1 and #2, it's time to dive deep into the distinctive traits of your dream clients on a company/account level. By defining the firmographic, environmental, and behavioral attributes of the accounts that have proven to be your company's most valuable customers, you'll use those traits to shape your target audience and guide your strategies. Use these insights to connect with the right audience and fuel your company's growth.
- Unveiling Customer Insights and Transforming the Journey — Next, embark on a journey of exploration into the historic interactions with your target audience. Let's uncover the secrets of attracting attention, engaging, nurturing, and closing deals with your ideal customers. Marketing holds the key to understanding what resonates, attracting the right audience, and generating leads. Meanwhile, sales brings invaluable insights into nurturing and closing deals within this vertical market. But we're not done yet. It's time to bring your personas to life and look at the experience from the customers' perspective. Put yourself in their shoes and envision a seamless buying journey, where each step introduces them to your process and key players. Let's assess the current landscape. Take a closer look at your existing processes and identify their strengths and weaknesses. With this map in hand, pinpoint the areas where your present strategies shine and where they may need improvement by examining actual leads and interactions. In one such discussion recently, a senior sales rep described a recent lead from marketing that he received. It was scored as a 98% fit. He looked at it and discovered that it was a medical company. They did not have a solution for medical companies. This disconnect caused significant doubt in his mind that marketing was targeting the right prospects. Wow, that was eye opening!
- Empowering Change and Fostering Collaboration for Growth — Get ready to optimize your processes and bridge any expertise or skill set gaps that exist. Embrace the changes needed to propel your success, whether they're short-term adjustments or require a broader mindset shift. Break down barriers between departments, processes, and systems by championing necessary changes with a cross-functional team. Start by implementing the easiest changes, leveraging your current learnings to develop your next marketing and sales campaigns. Take a phased approach to roll out larger change initiatives, scheduling regular debriefings to keep your team members accountable to one another. This marks a significant milestone, fostering trust between marketing and sales stakeholders. It's time for the fun and fulfillment to take center stage!
- Creating Data-Driven Campaign Excellence — Okay, now for the nerdy part! Ignite your creative brilliance with a scientific and operational mindset when crafting and launching campaigns. Document assumptions and strategically test them. Choose the right martech and salestech stack for communication, personalization, measurement, and reporting. Conduct insightful sunset sessions, deriving actionable steps towards your business objectives. Let data-driven decisions drive your success, sparking curiosity and relentless pursuit in every marketing and sales endeavor.
- Expanding Horizons: Repurposing Success for New Markets — As you follow along, you'll see that this focused initiative centers around achieving a key business objective, often targeting a specific segment. With your developed process and the achieved business outcomes, it's time to explore how to adapt and expand your approach to additional markets. As you go through this process multiple times, it tends to become smoother and more seamless for all involved parties. Let the momentum of your success carry you forward!
Note, if you have reached this point, you have no doubt had some lively conversations between marketing and sales. Celebrate as you have achieved a major milestone. And more importantly, all stakeholders will have a really good sense of where you have strengths and where you have gaps in generating revenue from your most profitable customers.
Get ready to witness the transformative power of these seven revenue accelerators!
This article may have sparked numerous questions:
- Can we truly focus on one business goal?
- Isn't that risky?
- How do we rally as a team for these discussions amid our existing workload?
- Is there any guarantee that this approach will yield results?