If you want Sales and Marketing to be on the same page, then there had better be only one page.
Here’s how to do it.
Benefits of an aligned Sales and Marketing process
Research shows that building a single process when it comes to Sales and Marketing has some very measurable and substantial benefits for your business, including:
- Increasing lead acceptance by 26%
- Increasing lead closure rate by 15% and Marketing’s contribution to revenue by 59%
- Lifting lead acceptance by another 31%, and
- Improving lead acceptance by another 27% and marketing generated revenue by another 63% when the shared process is refined.
The net effect of building a single, optimised Sales and Marketing process is that the lead acceptance from Marketing to Sales doubles (by 108%) and Marketing’s contribution to revenue does better still (by 126%).
How to build a 1-page Sales and Marketing process
1. Get your Sales and Marketing teams in the same room, literally.
By having them in the same room, you will be able to build and plan your process together. This means everyone gets a say and no one will be left in the dark — each can contribute their expertise.
2. Get clear on the sales objectives
Be careful: these are not the revenue objectives but the new business targets that Sales and Marketing are going to sign up to.
3. Agree what buyer problem you want to focus on
Identify and agree what problem you’re going to focus on solving for the market.
To do this, you need to think about all the problems that you do solve, analyse them in terms of strengths and weaknesses, whether they’re a big problem or a small problem, and choose one to focus on.
4. Agree what market you’re targeting
Sales and Marketing need to agree who has the agreed problem and their general characteristics. This is what we call an ‘Ideal Client Profile’. Additionally, you need to identify the segments including:
- Business type
- Buyer maturity
- How much focus you will give to each of those segments
5. Agree sales and marketing velocity
Next, you need to agree to the velocity that you need your sales and marketing process to generate in the first year, but also blow it out to your second and your third years.
This will help you understand the kind of engine you’re trying to build together.
6. Agree sales and marketing tactics
Identify and agree the tactics that Sales and Marketing are going to use to generate that exact velocity, and how those tactics interconnect and work together in campaigns.
Bringing Sales and Marketing onto the same page
And that’s the beauty of Funnel Plan — it brings together all of those elements onto one single page. This encompasses your objectives, strategy, velocity and tactics that you’re going to use together.
If you already have a Funnel Plan, then you know what I’m talking about. If you don’t, go to Funnelplan.com and grab yourself one.
I hope you got lots of value from today’s Funnel Vision blog. We’ll have a new blog up next month in the same place. Until then, may your funnel be full and always flowing.
Our thanks this week to:
Brittany Shipton & Bella Newton for blog production
Amy Dethick for video production
Hugh Macfarlane for scripting and presenting this week’s show