If you’ve ever worked within a company's marketing or sales team, you'd know that (except for the rare and glorious case) relations between both groups are usually horrible. The marketing team complains that the sales team is being stingy with existing customer information. Or the sales team is complaining that marketing content doesn't drive sales. The list of squabbles goes on and on.
But, do you know that companies with sales and marketing alignment are 67% better at closing deals and drive 209% more revenue? This is a stat that shows the importance of communication between your marketing and sales teams.
If we're honest, there's an atom of truth in every rumor. This is true for the complaints the two teams throw at each other. If it’s really severe, it points to fundamental issues in your structural organization.
These are problems that may turn into crises if not adequately solved. So, let's take a look at why it's worth braving the muddy waters of an ongoing sales and marketing war. Here’s why communication between your marketing and sales teams is important.
Content CreationContent creation is usually the sole forte of the marketing team. However, any sales rep will tell you that most of that stuff is left unused, in reality. This is because, though the marketing team has great marketers, most are rarely aware of what actually sells.
This is where the sales team reigns supreme. They're on the ground every day, trying to close leads and meet client's needs. They can tell you what clients need, what they like to hear and see. This is vital information for marketers and can help them create content that'll generate better leads. How will they know this if they're still in the middle of a turf war?
KPIsBoth teams monitor a lot of the same key performance indicators. Sales, lead conversions, social media engagement, etc. These are necessary KPIs for each side, and monitoring them helps to solve problems as they appear. Or it should.
Like we said before, there are some things that the marketing team understands more than the sales team and vice versa. This applies to KPIs. Having all your executives from both teams
communicate and understand these overlapping KPIs is critical. It allows everyone to comprehend better why the numbers are where they are and how to improve them.
Customer RelationsWhile the sales team has a better understanding of customer needs, marketing has better ideas of marketable content. Each side has what the other needs to generate better leads and make more sales.
Sales can help marketing create better buyer personas. This helps marketers create better content to drive more sales. It also helps reduce the need for market research.
How To Improve Communication Between Your Marketing and Sales Teams
MeetingsNobody likes meetings, but they're a necessary evil. Both teams need to hash out their issues and then learn how they can profit from working together.
Asking the right questionsThe marketing team can benefit greatly by asking the right questions politely. Questions that focus on building better buyer personas like “what motivates your prospects?” can help bridge the gap in communication.
Encourage information sharingEncourage the sales team to give their feedback on the marketing team's work and vice versa.
ConclusionOur list of methods to improve communication is by no means exhaustive. However, these are the most important ones to facilitate better alignment between the sales and marketing team.
When the going gets tough, remember that in one year, total decreased sales productivity and wasted marketing efforts due to misalignment cost $1 trillion.
The CMO is the captain of your ship. As your Chief Marketing Officer, their job is two-fold. To manage and oversee all current marketing strategies. And also predict what steps your company should take in the future.
Yet, Forbes shows a recent shift from CMOs to a Fractional CMO. So what is a Fractional CMO, and why should you hire one?
Do you need a Fractional CMO?A Fractional CMO is a part-time Chief Marketing Officer. They do the same thing as their full-time counterparts, but at a lower price. If you want an expert to help drive customer acquisition, sales development, and company growth, try hiring a Fractional CMO. They can especially add a lot to mid-sized companies looking to compete in a bigger market.
What does a Fractional CMO do?Some of the tasks a Fractional CMO can take up include:
What are the benefits of hiring a Fractional CMO?
1. Cost-Effective - Hiring a Fractional CMO will save you money. But, when it comes to growth in business, your goal is never to spend less money. It is to maximize results. So, you shouldn't hire a Fractional CMO because you think they're a cheap replacement. You should do it because it's the smarter cost-effective choice overall.
As a small to medium business looking to compete in a larger market, you want to maximize the output from your resources. This means you shouldn't dump a significant amount of your marketing budget into a CMO. Instead, hire an expert Fractional CMO and give him the best possible resources to grow your business.
2. More experience - A big reason for the rise in Fractional CMOs is the changing workplace landscape. With remote working becoming the new normal, a lot of high potential workers are rejoining the market. Most CMOs spend their entire lives working with directors and CEOs in high-pressure office environments. Many such individuals reach a point in their careers where they don't want to work full-time in an office.
However, they still have a wealth of knowledge and expertise. It is these experts that transition into Fractional CMOs. So, the whole idea that Fractional CMOs are somehow less experienced is simply false. In fact, more often than not, they come with a rich CV and quality branding insight.
3. Creative outlook - Increasing profits isn't just about creating an A-plus marketing strategy. Any CMO can come up with a quality strategy. But, how do you execute it with your limited resources? That's where a Fractional CMO comes in.
These expert freelancers are used to looking outside the box for creative solutions to problems. Their history working for big firms gives them insight into the best marketing strategies on the market. And working with midlevel businesses prepares them for the restrictions that come with a smaller budget. It is this approach that makes them perfect for your business.
4. Provides direction - As a small business owner, you probably handpicked each of your employees. The process likely took weeks, and now you're dumbfounded at your company's lack of progress. The truth is that you can have the best team in the world and still not get any results.
And it isn't just because your employees are incompetent. They're trying their hardest. But, they don't have any direction. Most people are really good at their jobs and really bad at innovative thinking. So your employees are probably great at the job you hired them for. But, they can't look at the bigger picture or project your business upwards.
That's where you need a Fractional CMO. Like all the other tasks you hired professionals for, you also need an expert dedicated to sales development. It's as simple as that.
5. Minimum risk, maximum results - Marketing is as much art as it is science. So, the most experienced CMO is useless if they can't understand your brand identity or function in tandem with your team. And if you hire a bad one, you're stuck for at least some good months. This can set your business back by a lot.
Luckily with a Fractional CMO, you're only committing to around 90 days. This gives them enough time to work their magic, and you to check analytics and monitor progress. That means, no time wasted and minimum risk to your company's growth.
Overall, the benefits of hiring a Fractional CMO far outweigh those of a regular CMO. And to put the cherry on the cake, your company benefits monetarily from the influence of a marketing expert.
Are you looking to attract more customers to your business? Here are five easy things you can do right now to grow your customer base.