3 Ways to Measure Sales Success within Marketing
As a marketer, you’re on the hook for a lot. The list is actually too long to put here. Because of this, the relationship with your sales department’s success typically falls by the wayside. That’s understandable. However, if marketing doesn’t understand what makes sales successful, how can you truly help them? If you’re confused by this, you’re not alone. In fact, most marketers have no idea what they can even do to back up their work when trying to translate it to sales. Here are three ways to measure marketing’s success with sales.
Sales Lead Acceptance
There’s truly no question here, the amount and quality of leads you pass over to sales is the number one definer for success within your work. If that’s the case, why wouldn’t you take ownership over those leads? The best way to approach this is to pull the data on the marketing leads that have converted to sales opportunities. From there, you can gather consistencies on what’s working and what’s not, and duplicate those across further campaigns. This helps with the golden nugget of marketing data- ROI projections.
Your best defense against the decline of marketing engagement is a strong sales outreach. This can be said over and over again, but if sales and marketing are not working hand in hand, it creates a major gap in revenue. Knowing that, what’s the best way to prove that marketing is successful? Predictable revenue. The mindset behind this is track all the leads that have been in your nurture, and by trends in your reporting, analyze when they’ll convert to a sales lead. Once that happens, and if you understand the sales process for your company, you can then project when the lead will become an opportunity. By providing a predictable revenue report to sales, you not only show that what you’re doing is working, but also create a line of trust and communication.
What is the optimal result of all your marketing efforts? Creating natural advocacy. Having a client or prospect spread the word of what your business does, and how it’s helping them one of the many tenets to success. How do you get there? Customer marketing. In a customer marketing strategy, your goal is land and expand. It’s 25% more profitable to retain a current customer than it is to onboard a new one. Why does this matter to sales? By customizing your outreach to current clients, you build awareness and value within that target account, in turn creating for new sales opportunities. There’s about a 60-70% probability that a current client will buy from you again, and those are stats that neither marketing or sales can ignore. Creating a strong customer marketing strategy and aligning it with sales will help you increase revenue over time.
After reading this, it’s possible that your initial response is “well that seems like a lot of work”, and it certainly is. However, learning to prove the effectiveness of your marketing efforts to the sales department, and the rest of the organization, you create a fully-functional revenue powerhouse.