“Our sales team is merely tactical; our marketing is impractical. Both operations are out of synch and sometimes openly in conflict. We waste budget in our marketing, but we’re not sure where; and we lose too many orders in our sales pipeline, but we don’t know how to fix it.”
Companies can only maximise new revenue and profit from their return on investment in sales and marketing when they resolve these issues:-
Sales and marketing alignment: often there are conflicting strategies and tactics between departments. No shared understanding of the market and what’s required to create and convert new market opportunity into growth & revenue.
Sales and marketing process is opaque: problems arise - from the earliest stage of market planning through to the sales close and retention. What’s happening at each stage? What’s going wrong and how to fix it?
Metrics: inability to measure and evaluate performance at each key stage in the sales and marketing process. Where are the stats needed daily/ monthly to monitor and manage business development?
Scalability: no forecasting of return on investment and time-scales. How and where to invest in sales and marketing in order to scale up the business to generate more revenue and profits?
Buyer Behaviour: data is required on exactly how decisions are made, by whom and for what reasons during the course of the “buyer’s journey”. Can you sell effectively without knowing why buyers buy and what influences them?
|