Great, your manufacturing marketing and sales teams have met and begun the difficult but crucial process of alignment. They have worked to develop an agreed upon buyer personas and buyers’ journeys and lead scoring definitions and workflow. However, in order to continue to move forward and join companies with sales/marketing alignment—which have a 20% annual growth rate as opposed to poorly aligned companies with a 4% revenue decline (source)—you need to pull all of this together to track lead quality and improve content based on the buyer.
First, sales and marketing need to state clear goals that both are working to achieve. In addition, KPI measurements for manufacturing marketing and sales need to be determined and known to both teams so each has a firm understanding of where they are accountable for in the process and how to help each other to achieve the overall goals. This can help eliminate the friction between teams by addressing upfront where ‘credit’ is due for new sales and how both need each other to succeed. Roughly 57% of the average B2B buyer is through the purchase decision before reaching out to sales. (source) This will affect how leads are tracked and transferred.
In order to effectively track leads through the marketing and sales process, make sure your content and sales platforms are integrated. Failure to align processes and technologies has cost B2B companies 10% or more in revenue per year. (source)
Both teams need to meet regularly in order to maintain open communication. Alignment only works if the teams have strong, joint processes in place to stay aligned. It is a continual process of sharing feedback and insights so that the lead scoring system can be tweaked to improve lead quality and content creation is developed for marketing and sales with the buyer needs in mind.
Working jointly allows both teams to improve efficiencies and deliverables. Sales teams work very closely with the buyer and can provide powerful insights into which content types and messages resonated best to manufacturing marketing. Marketing can provide behavioral insights and interests from a buyer’s first interaction with the company through lead nurturing to sales and allow them to support sales with content they need during the final decision stages.
Why is this important and why you should continue your alignment? Here are three powerful reasons.
- B2B businesses with strong alignments can achieve 24% faster revenue and 27% faster profit three-year growth.
- Companies with alignment have 36% higher customer retention rates.
- Alignment leads to 38% higher sales win rates.
Interested in learning more about sales and marketing alignment for manufacturing marketing? Read The MFG Standard, Fathom’s first ever manufacturing marketing magazine dedicated to helping your grow your manufacturing business.