In a world overflowing with options, myriad digital marketing tools and platforms abound for advertising, raising awareness, and communicating with your audience. With all the choices available, it’s no wonder that trying to determine the best way to market your organization can feel overwhelming. How do you know what’s best for your business – and your bottom line?
Why sales and marketing alignment is so important
As experts in implementing effective marketing strategies, one of the most common mistakes we see is siloed marketing. A holdover from days past, this type of marketing effort (and the personnel who implement it) don’t engage in strategic collaboration with other departments. According to the Harvard Business Review, “Marketing historically has supported its own strategy…goals not directly related to overall business strategy. Today, higher performing marketing departments align activities with company strategy.” In our modern world, it’s essential that an organization integrates marketing efforts with strategic business and sales goals. When business strategies and marketing efforts aren’t aligned, the negative consequences can cost companies 10% or more of lost revenue annually, per Forbes.
How does an organization move toward aligning sales and marketing?
Step 1: Make sure your business goals are clearly defined. This includes deciding how much you want to grow your business in the upcoming year(s), choosing which sectors or industries you want to expand into, setting goals for finding and converting prospects into clients, and determining which existing clients could benefit from additional services.
Step 2: Know yourself and your market. Determine how your company is perceived in the marketplace, your strengths and differentiators, and your weaknesses and areas that could be improved. Conducting a market survey with past and present clients and prospects, including those you’ve lost, is an excellent way to gather answers to these questions. Research your target audience and how they engage with the world around them. This will inform your marketing strategy.
Step 3: Determine your marketing actions and metrics. Based on your business goals and your marketing strategy, choose how often and through what channels you’ll market to your target audiences to support your business goals. Define the metrics you’ll use to measure engagement (such as the number of views or clicks on websites and social media.) In addition to measuring engagement, charting month-over-month revenue as compared to the previous year is also an essential metric to track.
Step 4: Execute, measure, and adjust. Once you’ve determined your marketing plan, it’s time to put it into play. The key to measuring results is to track and analyze the data (and new business) over time. Note what is working and what could be improved. If the numbers aren’t where they need to be, make adjustments. See what moves the needle.
How do you know your sales and marketing alignment is working?
The most salient indicator of successful integration between business goals and marketing strategy? Increased revenue, increased awareness, and increased “buzz.” Survey results from some of the world’s most successful companies found that 61% of companies with sales and marketing working in tandem delivered above-market revenue growth. With over a decade of proven experience in helping our clients align their sales and marketing goals – and significantly increase their bottom line – Arco + Associates understands the importance of targeted, purposeful collaboration. Read about some of our client success stories here. If you need help aligning your marketing strategy with your business goals, contact Arco and Associates at 636-527-9254 or email us.