How Costly is Marketing and Sales Misalignment?
Marketing and sales misalignment within companies has become very common in modern business. With each team working independently and not using each other as resources, misalignment can prove to be a very costly hurdle to overcome.
Both B2B and B2C sales funnels are dynamic and ever changing which has likely led to this misalignment. It’s very easy to get to a point where the teams are resenting each other instead of supporting each other through each step of the buying process.
We at Verse want to help you understand and mitigate this hindrance to obtain maximum efficiency!
When talking about marketing and their role in misalignment, there are 3 main issues to address:
Poor understanding of Ideal Customer Profile (ICP) – Marketers have a propensity to think more broadly about their target market and may miss the mark on who the ideal customer.This can make it difficult for the sales team to convert leads. Having a strong understanding of your ICP and making sure it’s understood across the company can lead to shorter sales cycles and warmer leads.
Outdated lead generation strategies – Only 7% of salespeople said leads they received from marketing were qualified, not leveraging the correct ICP and choosing the correct sources of lead generation and outdated strategies causes a roadblock when sales teams are working with unqualified leads.
Trouble generating demand – When the pipeline is stagnant it can cause rifts between the two teams and snowball into even more finger-pointing. If sales is expecting high volume of leads and marketing can’t deliver, it will only worsen the blame game
Marketing can be hard to measure and therefore, easy to blame when it comes to marketing and sales misalignment. But sales has their own problems, too.
As with any relationship, there are two sides to every story. As much as it is marketing’s duty and responsibility to provide good, warm leads to the sales team, there are also areas where the sales team drops the ball when receiving these leads.
The handoff between marketing and sales can be a contributor to misalignment. Surprisingly, 22% of marketers say that their top need from sales teams is “better lead follow-up.” Not being able to follow up quickly with marketing leads causes lost opportunity and wasted money.
But sales can only do so much. While they understand fast follow up is the key to more closed deals, not every salesperson can respond to a lead within five minutes at all hours of the day. It’s being stuck between a rock and a hard place when salespeople lose opportunities due to their own bandwidth.
This is where both teams begin to get frustrated with each other. When marketing is providing quality leads and sales can’t follow up, marketing starts to blame sales for lost opportunities. Sales may try and argue the leads aren’t quality enough. The truth is: even at their best, marketing and sales will still lose opportunities.
Sales and marketing morale can take a huge hit from this only further exacerbating the misalignment and resentment between teams. Looking for solutions to evolve your sales structure is necessary to keeping your top talent performing.
The Hidden Cost of Marketing and Sales Misalignment
We know that for best results marketing and sales must be aligned and ultimately be working in unison to achieve your company’s target goals. But how much more could you be making from better alignment? According to Marketo, alignment between sales and marketing can lead to:
- 32% increase in year-over-year (YoY) revenue growth.
- 208% growth in marketing revenue
- 38% higher sales win rates
That’s not just missed opportunities, but a huge hit to company growth.
What Can You Do for Optimal Alignment?
Ultimately, aligning both teams on lead management truly falls on the shoulders of marketing to find the proper solution. Marketers are the ones generating the inbound leads, therefore it is their responsibility to figure out the correct processes for ensuring a flawless handoff.
Verse’s 24/7 modern contact center gives marketing and sales teams all the resources they need to be aligned when it comes to the leads that become appointments and optimizing your sales cycle and funnel. Our uniquely-crafted solution helps solve marketing and sales misalignment and can ensure no leads get lost in the cracks.
Here are a couple of examples of how Verse helps solve marketing and sales misalignment:
- Follow up with every lead within 5 minutes, 24/7
- Text, call or email leads, based on individual lead’s preferred method of communication
- Nurture leads for up to six months
- Qualify leads through customized questions that fits your company-specific language
- Book appointments with your sales team as soon as a lead is qualified
- Give quality lead data to marketing, broken down by source
Especially with more companies moving towards a virtual and remote environment, it is crucial to have your two biggest revenue-producing teams aligned with their processes. The more aligned they are, the more revenue they produce together.