Sales and marketing alignment is an interesting subject but is more critical than you might first believe for your construction or building product business.
When sales and marketing teams are misaligned, it can be detrimental for business growth and lead conversion.
Today, sales is part of the marketing mix. So, it is so important to have these two teams working together and communicating with each other. They are both after the same end result, aren’t they? Revenue!
In this blog we will give you 5 important reasons why you must get your sales and marketing teams on the same page.
Sales’ Lead Follow Up Will Improve
According to research from Marketo, sales doesn’t follow up on up to 80% of marketing’s generated leads, spending time on their own prospecting activities. This is clearly down to a misaligned strategy between the two teams, where they both have differing opinions on how leads should be handled, and which ones are high priority.
Bringing your sales and marketing teams together with a combined plan of action where they communicate each other’s activities to one another will be critical to making sure time is used more effectively. It’s also significant to have shared definitions of what a good lead even is.
It could also be a good idea to agree on a handoff process where each stage of the timeline is attributed to either sales or marketing. This should also be reviewed periodically to check that promising leads are not getting lost in the process.
Your Two Teams Will Be Working Together as One
Aligning your sales and marketing strategies so they both are performing as one – the revenue department – will be crucial to your organisation’s success. It’s easy for these two teams to become siloed, so without a clear focus on bringing everyone back on track, your business will become stuck.
Scheduling regular meetings between these two key departments will mean you can monitor performance, track shared goals, and work together on improving your work processes and getting over challenges in your customer’s buying process.
This simple change will open up the lines of communication that are needed for critical problem solving and will also give each department a voice.
Your Sales Process Will Be Shortened and Simplified
Sales and marketing alignment might generate communication and unite leadership, but its most impactful where it really benefits your bottom line.
Sales and marketing alignment shortens and simplifies sales processes by streamlining workflows between the two departments. This is most effectively done by a joint Customer Relationship Management (CRM) system which allows both teams the ability to actively contribute and monitor each customer’s journey with your business.
Using the same dashboard and tools, you can see which customers are most engaged, what marketing content they have consumed, how active they are on your website, and key bits of information that allow your sales team to approach them informed.
You can read how having a CRM will benefit your construction business here.
You Will Be Able to See Clear Attribution
Following on from the above point, having both your sales and marketing teams aligned, and working with one unified system, you will be able to track prospects as they move through your sales cycle.
In the construction sector, where sales cycles are long and complex, you might think its impossible to be able to trace marketing attribution for each customer you have, but its not. Using a comprehensive CRM system, like HubSpot, you can discover the true value of your marketing campaigns and how it is affecting your lead generation.
You can also critically see which marketing activities are paying off the most – so you can do more!
Aligning your sales and marketing teams is an important step to measuring your ROI and then being able to improve individual aspects, consistently over time.
You Will See Massive Return
You could think that implementing sales and marketing alignment might seem like more bother than its worth, but you will be surprised to know the statistics around how crucial it can be for B2B businesses.
Sales and marketing alignment drives a 38% higher sales win rate and shortens business’ sales cycles. Companies which strong alignment have been shown to achieve a 39% average increase in annual revenue growth compared to the average 4% growth for unaligned businesses.
In organisations where sales and marketing are aligned, marketing’s efforts contribute 47% of the forecasted pipeline, compared to just 5% in unaligned businesses.
Failure to align sales and marketing has been shown to cost B2B businesses 10% or more in revenue per year due to decreased sales productivity and wasted marketing activities. This add up to a massive $1 trillion in lost revenue each year.
Finally, highly aligned companies are shown to grow 19% faster than competitors and become 15% more profitable.
Now you might see why aligning your sales and marketing teams pays off!
Conclusion: Getting Sales and Marketing on the Same Page
It is so important that we remove barriers, establish systems and help sales and marketing achieve alignment to maximise the performance of building product businesses. For alignment to work, people, processes and technology need to work together in the pursuit of common goals.
Want to learn more about sales and marketing alignment for your building products or construction business? Talk to us today.
Insynth Marketing is a leading UK construction marketing agency based in Shifnal in the West Midlands.
They use the latest inbound marketing techniques such as construction inbound marketing, to support building product companies to grow their business by proactively driving sales lead generation activity.
As the only HubSpot certified agency to major on construction marketing, we bring together construction marketing strategy, digital strategy, website design, SEO, content marketing, email marketing, sales automation, marketing automation and HubSpot CRM implementation to produce successful campaigns and great results for our clients.