As discussed in previous blogs aligning your sales and marketing departments is important for making the most of your ecosystem. At both your vendor level, as well as the partner level, sales and marketing teams who are sharing resources and work with each other are going to bring much better results overall.
However, there are of course a number of challenges – one of the biggest is when it comes to reporting. Ideally, you want marketing and sales to both be reporting good news, but that’s not always the case. Situations can arise where, for example, marketing is reporting lots of good trends, but sales are stagnating. This can easily lead to fingers being pointed, rather than solutions being found. Finding ways to help align sales and marketing reporting can help alleviate this, as well as improving overall synergy between the two departments.
- Timing is everything.
Sales and marketing run on different cycles, and generally speaking, sales will always be lagging “behind” marketing. That is to say, if marketing has a stellar month and has been generating huge numbers of new leads, sales is probably still working through the backlog that’s been created.
Fortunately, modern CRM and PRM platforms can largely account for this. When you are able to track the buyer’s journey from first touch, to final conversion, you can work out roughly how long the funnel takes to traverse. This will make it easier to line up how marketing’s success in one quarter turn into sale’s success in the next.
- Leads: Quality vs. Quantity.
Another issue which can lead to a disconnect between marketing and sales is if marketing is the generation of too many low-quality leads. There really IS such a thing as too many leads! An imbalance can easily become inefficient, leading to sales becoming bogged down. Basically, if there’s too much haystack for too few needles, “successful” marketing can actually be creating problems.
Here are a few potential solutions, depending on your situation:
- Reduce your outreach. Reduce your ad buys for awhile.
- Implement better computer systems for screening and rating leads.
- Cast a smaller net. Have marketing that’s more focused on buyers that are most likely to convert, rather than having widespread\mass-market campaigns.
- Bring in more partners or encourage your partners to expand their operations.
- The correct strategy: Focus on the bigger picture.
A common complaint about how business is conducted is that it tends to be overly focused mostly on monthly- or quarterly-results. This can be detrimental to a business’s long-term success, or even encourage myopic thinking that prioritizes short-term gains while creating long-term problems.
Shifting your reporting to put more focus on year-over-year results can help counteract this. In the meantime, it will also smooth out the points of friction between sales and marketing reporting. Look at value-building and growth, rather than focusing on raw numbers. This makes it much easier to see the value in marketing\sales alignment over time.
Grow Your Ecosystem With LogicBay
The LogicBay approach brings the assistance you need to overcome the biggest challenges which face any ecosystem. With a blend of technological innovation and experience-based consulting, LogicBay can help you create an indirect sales system which continues to grow.