How far can marketing go in sales?

It was once believed that marketing had limited reach in revenue growth.

Now, marketing can significantly impact revenue growth compared to just a few years ago.

Let's briefly review the content marketing funnel before diving deeper into the topic.

(I hate jargons, TOFU is Top Of the Funnel, MOFU is Middle Of The Funnel and BOFU is Bottom Of The Funnel).

Marketing once aimed solely to spark interest, and its role is considered complete at that point. That changed with the advent of digital.

Previously, limited digital tools and platforms meant relying on in-person visits to engage clients.

Technological advancements have simplified our lives while also expanding the role of marketing teams in the sales process.

Here is a McKinsey report:

The most important point to note is

"Rep-Assisted digital purchasing paths cut buyer regret by half"

While various factors can contribute to building a positive customer mindset in the long term, personalized and humanized interactions with sales representatives play a key role in establishing trust and fostering positive perceptions.

The marketing impact on buyer journey:

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The modern buyer journey stretches much beyond the "exploring solutions" part of the buying journey.

A survey states "Today, there are an average of 7 decision-makers involved in the B2B buying process. And, 50-90% of the journey is complete before a buyer interacts with a sales rep."

I repeat, Thats before a buyer interacts with a sales rep.

Takeaway:

Today, I'm sharing two main insights.

1. Sales and Marketing Alignment
2. Extending the Use of Marketing Beyond Sales

1. Sales and Marketing Alignment:

I always talk to the sales team before starting marketing campaigns. I see them as the ones who finish the job and they can provide important tips for the campaign's success.

Sales and marketing must operate together, not in isolation.

Will follow up with a detailed sales and marketing alignment article with process, tools and KPI's.

2. Using marketing beyond sales:

Fred Reichheld, the creator of the Net Promoter Score stated that the cost of acquiring a new customer can be anywhere from 5 to 25 times more expensive than retaining an existing one.

Re-marketing for retention and upselling/cross-selling is the smartest action an organization can take. The marketing team can execute specific activities and campaigns to achieve these results.

Conclusion: Competition only poses a risk to organizations that lack a coordinated approach between marketing and sales.

Can you share an experience where marketing and sales collaborated?

#sales #marketing #modernmarketing