Deconstructing the Discord
Imagine watching your favourite band, live in concert, but the rhythm section is not in sync, and the instruments aren't in tune with each other....confusion sets in and you'll probably never pay to see them live again!
The same scenario unfolds in business when key departments aren't aligned in their strategies, goals and operations.
Sales and Marketing are two departments for which this is especially true. The two are so closely linked that they're often referred to as a unit, as the success of any B2B company relies on these two core teams operating in sync. However, in reality there is often a lack of cohesion that has the two departments at odds with each other, blaming each for low success rates. The result of this can be damaging for the company, much like it would be for your favourite band at the discordant music concert! If this isn't addressed and rectified, the result can literally sink a company, with LinkedIn's 'The Art of Winning' article stating that in the United States alone, marketing and sales waste an estimated $1 trillion annually due to lack of coordination.
Unravelling Smarketing
Sales and Marketing depend on each other. Marketers play the crucial role of attracting and nurturing prospective clients, and Sales rely on those quality leads to convert into customers. Yet these two teams, which need to work most closely together to ensure the sustainability of a company, are often in disagreement, blaming each other when departments don't perform well.
According to stats compiled by Invoca, Businesses with strong sales and marketing alignment are 67% more effective at closing deals and 58% better at retaining customers. We all have the same goal to boost company performance and productivity, so now is the time to align your departments!
Boost Productivity
Smarketing is the smarter way to sync Sales and Marketing, using enhanced communication, cohesive goals and strategic collaboration. Once you gain this alignment between key departments, you improve feedback channels and ensure harmony. This ultimately boosts productivity and leads to significant financial benefits for your organisation. Implementing the Smarketing concept can save time and increase revenue; if Sales and Marketing are both involved in their role designation, they are more likely to take responsibility for their successes and failures, and have more faith in what they do. This leads to harmony within the organisation, and increased revenue.
Implementing Smarketing
The Smarketing Concept's 5 Key Cs:
1. Comprehension: Speak the same language, agree on terms and define your goals
2. Cohesion: Implement closed loop reporting
3. Concordance: Implement a service level agreement (SLA) between teams
4. Communication: Maintain open channels for continued communication
5. Collaboration: Use data to guide what you do
If you'd like to read more about Sales and Marketing alignment, have a look at our Smarketing Guide
