The following is an excerpt from IMPACT's new ebook, "The Expert Guide to Aligning Sales & Marketing." For more expert tips on achieving revenue growth by closing the loop between sales and marketing, check out the target="_blank">full ebook.
Ever find yourself frustrated at your ability to generate high quality, sales-ready leads?
Do you spend too much time going through dozens of unqualified leads simply trying to find some good ones?
The truth is, this happens all too much for business owner and marketers alike, and most time it's because their sales and marketing teams are both functioning on different objectives. This is a critical mistake.
Sales and marketing alignment not only ensures your sales people aren't wasting their time on the phone, but it also enables the marketing team to execute a more targeted campaign and market to the right prospects.
Sales and Marketing Alignment
Communication and collaboration are key when it comes to having both teams working together. What’s even more important is backing up any criticism or points with data, something which closed-loop reporting can provide. By involving both teams in the closed-loop reporting process, you’re giving them the opportunity to take a glimpse into one another’s world and see how they can benefit one another in reaching a common goal.
So what exactly is closed-loop reporting? It’s all about sharing insights on the lead and conversion process based on statistical data. For this process to work most effectively, the Sales team reports back to the Marketing team about what happened to the leads that they received – when they became customers or, if they didn’t, at which point a lead left the sales funnel.
The benefit to this is that the Marketing team will then be able to understand which are the best lead sources and which are the worst. Sales will be able to further appreciate and understand Marketing’s role in the customer acquisition process. Ultimately, having a closed-loop reporting process established will allow marketers to associate each lead, customer, and dollar spent on a campaign back to the particular initiative that drove them to you.
There are four basic steps to the closed-loop reporting process:
A visitor arrives on your site. At that time, a cookie is placed on the visitor, as well as the source that brought them there, such as an email, a Facebook link, a pay per click (PPC) ad, and so on.
A visitor browses your site. That cookie that was set on the visitor in step one will now track where that visitor went when they were on your site.
A visitor converts into a lead. A visitor may convert into a lead in a number of different ways, such as downloading an eBook, registering for a webinar, or singing up for your monthly newsletter.
A lead becomes a customer. This is where both teams can then attribute the acquisition of the customer to the visitor’s original source, such as through email, Facebook, or a PPC ad.