The alignment of sales and marketing is seen as a critical step for companies looking to maximize sales and revenue growth today.
In fact, a survey of 385 organizations1 indicated that companies with aligned sales and marketing functions have 20% average growth in annual revenue, as compared with 4% average decrease by lagging companies.
Other benefits include –
- Greater accountability for the entire sales pipeline
- Improved collaboration
- A more realized ROI for marketing
Clearly, integration of sales and marketing is beneficial to both parties but how can companies accelerate this process?
Mapping software can help
Mapping software brings the data to one place
Effective alignment of sales and marketing is often dependent on having access to critical information at the right time.
In order for sales to carry out effective follow ups, they need to understand the journey a lead has gone through from the very first marketing interaction.
Likewise, in order for marketing to get feedback on what campaigns are working and what aren’t, they need end to end visibility.
One of mapping software’s core strengths is the ability to simultaneously visualize multiple data sets from different sources. This means all the critical data is in one visual location making decision making fast and easy.
For example by mapping sales by pipeline stages, marketing have a window into high priority deals. Getting this from a spreadsheet or CRM can take time and processes, but by looking at a map of priority areas you can locate this information at a glance.
Marketing can then use this information to prioritize content or nurturing campaigns to help close sales.
Mapping software encourages accountability
Today more than ever, there is an increasing importance on measurement, metrics and ROI for marketing .
In companies were marketing and sales are aligned, marketing’s role to generate and acquire leads, visitors and prospects and pass them onto sales.
But how accountable should marketing be for the life cycle of these leads? Are they responsible for ensuring only the highest quality leads make it through? How do they measure effectiveness?
Well, a simple solution is to present the data in a high impact and visual way.
By mapping marketing leads and closed sales you have instant insight into the metrics that matters. This encourages both sales and marketing to be accountable for the lifecycle of all leads through the pipeline.
Mapping software helps visualize ROI
Measuring return on marketing spend and feeding back the results doesn’t have to be a challenge. Introducing maps into this process makes it a collaborative and visual process.
Consider this scenario
A company is holding a series of events across in California. The marketing team are responsible for promoting the event, getting as many people to the event and to capture as many business locations as possible for the sales team to follow up.
In order to get a clearer view of the data captured the marketing team map the businesses by location and include cost data.
The sales team use this data to help create regions and prioritize drop in visits. As purchases are made they update their data. This can be further analyzed later.
After the event marketing pull all of the data together, including revenue and cost in order to determine ROI for the event.
In the past marketing have used spreadsheets to see this data, but this gave a limited, complex view that required a great deal of explanation.
By importing this data to mapping software marketing can now produce a colour coded map that visualizes regions with a positive ROI as one colour and negative as another.
Sales and marketing can now collaborate with this information to help plan successful future campaigns.
The integration and alignment of sales and marketing is a growing and positive trend that yields direct results on revenue and costs. The road to alignment is not always straightforward but mapping software can be a powerful tool in helping encourage collaboration, accountability, visibility and results.