Sales and Marketing Alignment
9th April 2019
Sales and marketing or marketing and sales? Working out your sales and marketing alignment is key for successful selling.
According to HubSpot what percentage of companies found that aligning your sales and marketing leads to higher sales win rates: 1. 12% 2. 38% 3. 45% 4. 64% A lot of small business owners including solopreneurs have focused on either sales or marketing, mainly because of their experience or coaching they have had. However, there are a lot of frustrations that can get in the way of aligning sales and marketing. Understandably, your time and money are the lifeblood of your company, even more so as a solopreneur. Let's take a look at each frustration with sales and marketing alignment and offer solutions. The answer to the quiz above is option b. -As a salesperson what does marketing have to do with me? Your main focus is making sales and this is where the majority of your time and money is concentrated. Perhaps, it is quickly becoming apparent that you didn't spend an equal amount of time and money on marketing, and that you are missing out on marketing activities to inform people of who you are. Sometimes, it is easy to get stuck on a subject but for example, if you weren't sure how to change your car tyre then you would make a small investment in a breakdown company to do this for you. Just so in business, if marketing is not your strong skill set look at the cost to you of outsourcing and using freelancers. Even as a small business there is a great advantage to be earned in the delegation to other individuals. -How do I know what activities are increasing my sales? As a small business owner or a solopreneur, the responsibility for all aspects of the business lies at your feet which means sometimes you can't see the wood for the trees. Whilst you are putting time and money into sales and marketing how are you actually able to measure your return on investment? For example, you might go to a networking event with a handful of flyers but how will you measure if they are buying because of the flyers or the presentation? It doesn't need to be overcomplicated to find the answer. The first step is to ask for feedback when you close a sale. Have the confidence to ask them what encouraged them to buy the product. This way the feedback circles into the marketing. If this is something that makes you feel out of your comfort zone, then pass them a feedback form. -How do I measure success in each of my marketing activities? You might now be on-board with the idea of investing time and money into marketing but want to be sure that it is actually working for your business. You might have taken it one step further and discovered the point of purchase but want to know that you have put the right level of investment into a marketing activity. For example, someone bought because of content they saw on your website so did the sales you get from the website equal, cost more than, or gain a profit when compared to the website cost? This part does involve some calculations so take 15 minutes to sit down and do this. Start by working out the cost of your website, the meetings you've had with the client and any other associated marketing costs for that sale. Then compare this to the sale income making sure that a profit is gained, as is the main purpose of any business. If it shows negative income versus marketing costs, then go back to my previous point about finding what marketing activities worked. Next steps! To gain more information on aligning your sales and marketing head over to my website and join my blog. You will receive a FREE download that will give you key help and guidance on getting started with making sales and marketing work for each other.