Behind the Scenes of Sales & Marketing Alignment with InsideView
May 18, 2016
Close alignment between marketing and sales has always been a characteristic of leading organizations. With the growing popularity of Account Based Marketing (ABM), alignment is more important than ever.
ABM relies on open communication between the two teams. It actually blurs the lines between teams; effective ABM is somewhere between social selling and hyper-targeted marketing. It takes common definitions, metrics, KPIs, and goals to maximize both teams’ potential.
To help your sales and marketing departments communicating more productively, we talked with two experts from market intelligence company InsideView, Inc: Andrea Austin, VP of Enterprise Sales, and Tracy Eiler, Chief Marketing Officer. Check out the interview below for Andrea and Tracy’s thoughts on how leading companies succeed with ABM, how their team solves communication gaps, and more.
Interview with Andrea Austin & Tracy Eiler from InsideView, Inc.
LinkedIn: How does good sales and marketing alignment contribute to ABM success?
Andrea: We find that leading companies demonstrate strength in four key areas that are foundational to alignment: communication skills, common pipeline measurement, adherence to lead quality, and data enrichment to drive successful prospecting.
LinkedIn: Can you click into that more - what defines leading companies and what are they doing differently?
Tracy: In the recent market study we did, the leading companies were those that exceeded revenue goals and they revealed patterns and a more sophisticated approach to sales and marketing alignment. Leaders have better processes in place and are using more advanced tools. Leaders are three times more likely to characterize lead quality as excellent compared with laggards.
LinkedIn: How can sales and marketing teams solve communication gaps?
Andrea: In our study, the leaders reported better relationships between their sales and marketing counterparts. A higher percentage of sales leaders conduct weekly meetings with the marketing team. Here at InsideView, Tracy and I hold a weekly alignment meeting we call #smarketing.
LinkedIn: What role does data play in being successful with ABM?
Tracy: We released a recent market study that found 39% of companies say lacking data on target accounts is one of their biggest challenges. Companies that address this issue head on and populate their accounts with accurate and complete data are more successful with Account Based Marketing.
LinkedIn: How does lead management help with alignment and ABM?
Andrea: Lead scoring and routing are two of the most important processes that can align sales and marketing. The leading companies regularly review lead hand-off processes to ensure they’re functioning effectively.
Lead scoring is optimally reviewed at least twice annually, and sometimes quarterly by the leaders. Lead routing is actively monitored by both marketing operations and sales development leaders. Enriching target accounts and regularly cleansing the data helps accurate scoring and routing, which ultimately contributes to ABM success.
As technology allows ever more specific targeting, sales and marketing functions will continue to intersect and overlap. Organizations that focus on creating common KPIs and fostering communication will be much better equipped to succeed now and in the future.
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