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Learn about why smarketing is the most efficient strategy for increasing sales.
4 min read
Sales & Marketing head at Scalestack
The old marketing strategies can still work perfectly fine. However, if you are into the B2B business, a smarketing strategy is likely to work better because its new forms can adapt better to your systems and not get in the way of the relations among your teams.
This article will provide resourceful insight into what smarketing is and how you will be able to apply it to your company later on.
Smarketing is an innovative strategy that proposes to align marketing and sales to achieve better and more scalable results. What does this alignment produce? If it is well established, constant communication and goal sharing. Remember that smarketing comes from uniting Sales + marketing.
Of course that both of them get to keep their function, but this time they have to consider the other's function to do anything, too. On one hand, the marketing team focuses on attracting prospects, converting them into leads, and nurturing them with relevant content. On the other hand, the sales team approaches these leads in individual conversations to close a deal that is already in a position to be closed.
The development of this inner sales strategy in your company is very important. According to Hubspot, organizations that count on well-aligned sales and marketing teams are to reach an average of 20% more annual growth than companies with average marketing strategies.
If you are thinking about implementing this method in your organization, it is obvious to say that you must consider the fact that alignment is not an easy task at all. Despite this, once the path is uncovered, the organizations tend to achieve greater results.
The alignment smarketing provides usually turns into increased sales for the company implementing it. Here are some of the unique benefits that smarketing is capable of bringing to your business.
Marketing has now better qualifications to deliver higher-quality leads provided by sales. Sales are now more prepared to successfully work those leads and turn them into clients by making them convert. More customers always mean higher ROI for both teams and higher ROI brings more opportunities for the entire company in terms of more leads, better tools, more resources, etc.
There are certain things that the process of smarketing needs to have. Otherwise, it would be set up for a more likely chance of failure. The following actions are key in the process and they have to be well implemented if you want the system to work at its best.
If you want smarketing to function smoothly and maximize the revenue of your business, you must ensure that both marketing and sales teams define and work toward common goals. A great way to carry this out is to create a service-level agreement. This deal will help clarify the roles of each department throughout the lead generation process.
An SLA is a contract that outlines the must-dos of a person or group that has agreed to provide to another. This agreement can exist between a business and its buyers, one team that delivers a recurring service to another within that business, or even between people if necessary.
For instance, a service-level agreement could say something like “marketing will deliver a specified number of sales-qualified leads each month” or “sales will convert a certain number of those leads into sales each month”. This deal should also help to name goals, for example.
2. Honor the agreement and communicate
Once you have agreed on communicating, you must plan it out. Perhaps your sales and marketing teams’ communication is fine, but if your teams are completely out of sync, you have to come up with a new plan.
No matter the state of alignment or misalignment your teams are currently in, the first step is always to evaluate a few things. First of all, determine the frequency in which both teams meet and the frequency they should be meeting in. Secondly, recognize if those meetings are now pacific and understanding or if they are a battleground. There, check how each team refers to the other both in and outside the meetings, whether they support each other's back or they spit on it when the others are absent.
After that, see if the lead's information is coming in from marketing efforts that get followed up by sales or if the process does not work like this. Also, check how many leads that are getting followed up with by sales result in a conversion. Those are good metrics to base in.
3. Measure as much as possible
Collecting data is the most efficient way to measure whether your efforts are paying off or not, and to determine the things that you are and are not doing right. These numbers are the key piece of information that you need to know to decide if you want to continue doing what you are doing or try a different method.
Tracking critical data points helps to keep both sales and marketing accountable for the smarketing advancement. Here are some key metrics to measure effectiveness: marketing revenue attribution, conversion rates, close rates, monthly visits, lead quality, time on page, etc.
An interesting way to track both your marketing and sales teams’ progress toward your goals is to use a KPI Scorecard Template. This kind of template helps you to input key performance metrics by creating transparency on the processes that both teams are making towards increasing clients, conversions, and your ROI, most of all.
Smarketing will give you lots of happy faces if you find your way around it and get to implement it efficiently in your business. The guidelines written above will certainly help you define the process for your organization. Now it is just a matter of you deciding what could work best both for you and your business, in terms of the specific ways you do things and the resources that you have.