The term Smarketing has become a guild-term of sorts referring to the cohesion between marketing and sales departments for the purpose of generating revenue. This blog will dive deep into how functional alignment between B2B sales and marketing coordination can help better sales performance.
The term is especially relevant in the current scenario with the event industry experiencing a significant boom. At events, sales and marketing need to be coordinated functions that work in harmony for the sole purpose of driving sales and enticing customers into the sales cycle. In the present scenario, more than half of the organizations existing in the B2B space know that sales and marketing functionalities are vital to propelling top-line, but lack or have not implemented the operational alignment to do so.
In essence, smarketing is a blanket term for a practice that merges the boundaries of sales and marketing operations through transparent communication, setting common goals, open collaboration and sharing deliverables. So how does an organization ensure better operational alignment? And how can smarketing improve the quality of leads at events?
Setting common objectives
Sales and marketing handle different stages of the buyer’s cycle but in a unified pipeline workflow. Effective smarketing employs establishing common, attainable and incentivized objectives that facilitate conversion and revenue generation. Goals need to be set in such a way that incentives tie up with mutual performances. This can be done by creating an SLA on how the teams integrate with each other. The SLA could determine the number of quality leads that marketing delivers on and how fast sales follows-up to close deals.
Smart organizations take a holistic approach to funnels. Marketing and sales funnels need to be seen as a common concept. Marketing needs to stop looking at leads as contacts that are just passed on to sales and need to smoothen the transition between marketing and sales. Effective conversion is measured by revenue generated and both marketing and sales need to work towards more effective conversions. Define key aspects like what marketing functionality covers and when the sales team needs to step in. This way, marketing and sales work in cognition to ease customers into the buyer’s journey.
Clearly defining ideal buyer personas
Composing the ideal buyer personas is an important function of B2B sales. The key is to highlight key personas that, if provided with a positive customer experience, can prove favorable to the bottom-line. This way, marketers know how to target customers better and create content aimed at influencing a decision. Posing questions about the ideal customer’s role in the organization and the decision-making process can help throw light on important information that marketing reps can use to target customers with precision.
Sharpening lead scoring criteria
Although lead scoring is more of a marketing term, fine-tuning lead scoring criteria can prove invaluable to understanding aspects that qualify a lead. Sales teams need to clearly determine the most important indicators that marketing needs to focus on to better qualify leads and rank customers on how ready they are to be reeled into the sales cycle.
Mutually strengthening the content creation process
Content is no longer just an innocent bystander. It plays a stellar role in convincing customers that your product is more than just one among the crowd. It is, therefore, important that marketing does not bow out after passing on the lead to sales. Marketers need to provide sales reps with key insights on how customers interact with content. This way, sales reps are given access to resources that can educate buyers during the phases leading up to the purchase decision. Sales in turn, relays important feedback on the customer priorities and expectations. By coming to common grounds, marketing constantly churns out content that not only positively impacts customer engagement but converts into business opportunities.
Smarketing is more than just a portmanteau. It is a continuous process of soliciting ideas that form a working system that delivers quality leads. Collaborative alignment goes a long way in driving leads through to deal closure but the process of strengthening of the sales and marketing relationship is a continuous point of emphasis.