The Arkti Group CEO provides thought leadership to the PR/Digital Marketing team for B2B technology companies.
I recently had the honor of moderating a couple of sessions with sales and marketing executives representing companies such as Manhattan Associates, Cox Automotive, Fiserv, Deluxe, Oracle, EarthLink, Salesloft, and more.
The topic of our discussion. An improved relationship between sales and marketing and the emergence of Chief Revenue Officers (CROs) will drive the new dynamic.
In today's world, where B2B sales start with the online search rather than the sales force, marketing plays an important role in driving revenue and business growth.
These sessions provided an inside look at the heart of our new client journey and revealed some insights. These are the three most important.
sales and marketing. Objectives and standards are bound by a common destination.
When sales and marketing teams work separately, no one wins. For a more integrated and mutually beneficial relationship, marketing and sales leaders establish common goals and standards for a common destiny so that each team's success is linked to the other. Finally, the rising tide lifts all the ships.
I think it is this way. Why should marketing celebrate the achievement of key performance indicators (KPIs) when sales don't? The two groups are closely related, one feeding on the other. This is especially true when we turn to earnings. For one or the other, painting green doesn't always mean a healthy, sustainable business.
Many managers also call this function operational. Marketing, sales, revenue functions... these disparate pockets are often crippling and can hinder collaboration. Instead, departments should focus on measuring narrow goals and key performance indicators that all correlate with company profits.
New Holy Trinity. Sales, Marketing and Production
One of the recurring topics in our discussion was the role of product and product marketing along with sales. I have noticed that in many organizations, there is a strong working relationship between two of the three departments, and the third department must always invite itself to the negotiating table.
For example, sometimes a sale is made before the product is put on the market. They are asked to make a certain trade without understanding (or even knowing) the significance of the decision. Marketing can be viewed as a collaborative tool that helps bridge the gap between production and sales.
It's the three-legged step where the magic begins. Put these three groups in one room. When all votes have been heard and are on the same page, the stars are aligned, the bottom line improves, and the organization wins.
Where rubber meets the road
We've seen a trend of companies elevating CROs and placing them at the core of their organizations. I suspect this is due to the increasing complexity of our business environment and the need to focus more on revenue and cash flow.
And while some might call it a divisor at the executive level, our marketing and sales management team say that revenue stream and success is everyone's priority. No company can survive without profit, so focusing on a goal like revenue makes sense.
While most CROs are the sales leaders, I expect this to change over the next decade as CROs exit the market. Simply put, education and experience in marketing can better position a CRO to lead a cross-functional revenue team.
For example, most marketers know how to monitor and analyze data. They will also be good communicators and collaborators who can express, share and translate ideas to a wide audience. Sales teams need help managing the content and messages they use to close deals and understanding the customer feedback they get from sales.
From dashboards and KPIs to long-term results
In general, the marketing, sales, and manufacturing tripod works best when all parties are on an equal footing and can plan strategy and tactics together. Marketing and sales teams are most successful when they both share common goals.
Even more important, however, is the bottom line when each of these teams and departments work in tandem. No team has ever succeeded in a vacuum. It takes three or more people working together for a company to be successful and deliver long-term results.
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