n our information-rich, always-on digital world, buyer behaviour has changed dramatically. Our ability to conduct more research online before making a purchase decision has also significantly transformed the roles of sales and marketing people.
In 2011, Corporate Executive Board (CEB) released the findings of their study showing 57% of a typical purchase decision is made before a customer even talks to a supplier. By 2013, when the study was updated, this figure had grown to 65%.
Information power has shifted to the buyer
So while customers are getting information to make their purchasing decisions from internet content and social media is not new, all too often the dynamic between marketing and sales has not followed pace. Yet, alignment is now more important than ever.
Marketing now owns a significant portion of the buying process
Indeed, Forrester Research found organisations that align sales and marketing report an average 32% annual revenue growth rate. Those that don’t report an alarming average 7% decline. Important findings, indeed.
Despite this insight, all too often, the old sales and marketing divide persists. Where revenue flounders, marketers are quick to point their fingers at sales for not following up leads. Meanwhile, sales blames marketing for the poor quality of marketing materials and customer leads.
Where your customers are, is where you need to be
To succeed, marketers and salespeople have to work more collaboratively to attract and engage carefully targeted customers. This means:
- You need to define specifically how marketing and sales people will seamlessly attract customers and win customer loyalty;
- Your online and digital content needs to engage your target customers;
- Your content needs to drive sales, not just brand awareness; and
- You need to test out your strategies with key stakeholders.
Sir Winston Churchill once said, “If we are together, nothing is impossible. If we are divided, all will fail.” That sounds like a great mantra for sales and marketing to live by. What do you think?
In my next blog, I’ll discuss practical ways you can determine if and where your sales and marketing efforts are misaligned, and what you can do to get back on track.
