As companies continue to shift their focus towards digital strategies, one thing is becoming increasingly evident: sales and marketing, much like love and marriage, actually do go together like a horse and carriage. The alignment between sales and marketing has long been touted as a winning recipe to boost sales and increase revenue. Now, organisations are finally starting to realise it.
The only surprise here is that this realization didn’t hit sooner. Studies as far back as 2017 have been providing statistical data on the benefits of aligning sales and marketing strategies. These studies indicate that companies with closely aligned marketing and sales departments can boost their customer retention rates by up to 36% and their sales win rates by up to 38%.
Why does this union work so well? How exactly can marketers increase sales? The answer, it would seem, revolves around one word: information. Let’s take a look at the information that marketing teams can offer to help push a company’s sales.
Marketers Know What Customers Like
That’s right. Through the data that they collect, marketers can tell which website content is most popular and which ones don’t make the grade. If a piece of content generates real excitement among consumers, this may point to a larger interest on that topic with a certain segment of customers. Marketers can offer this information to the sales department, who in turn can make use of this knowledge as they engage with potential customers. This data can also be used to inform the next big marketing campaign, or to create more personalised content for a particular segment of customers.
Marketers Also Know What Customers Don’t Like
If Marketers can see which articles are being engaged by individuals, they are also able to see which ones aren’t. Whether it be a newsletter that has been left unread or a website article that hardly gets clicked on, marketers are quickly able to determine what content just isn’t cutting it. This information can prevent companies from launching massive marketing initiatives which are aimed at topics that no one is interested in, saving them both time and money.
Passing this information on to the sales department also means that sales agents can spend less time broaching those topics with prospects. It is estimated that up to 50% of an organisation’s sales time is wasted on unproductive prospecting. By arming sales agents with knowledge regarding which topics to steer clear of, that agent is sure to become more efficient at closing the deal.
Marketers Know The Intrinsic Value of Big Data to Boost Sales
You wouldn’t want to see a soldier going into battle without the proper weapons and armour. The same principle applies to the sales and marketing arena. The “weapon” being wielded here is information and marketers usually have plenty of it. Digital marketing allows companies to collect incredible amounts of data on every customer interaction. This data can be used to specifically identify an individual’s likes, dislikes, interests and preferences. When segmented correctly, big data can provide companies with a complete profile of an individual, even before a single number is dialled. Consider the following scenario: marketers collect data on several potential customers who interact with the content on their website. This data shows which content was frequently accessed, as well as which ones were ignored. From this data, marketers can build a profile of the potential customer and they pass this lead onto the salesperson. Even before the salesperson has dialled the prospect’s number, she already has valuable information regarding who the prospect is and what their preferences are. During the sales call, the agent focuses on the potential customer’s interests and avoids all of the other topics. By the end of the call, the individual is so impressed that he is ready to purchase. The sales agent has closed the deal.
This scenario is no pipe dream. As marketers provide these types of insights into leads, sales agents are far more equipped to handle, and indeed control, the sales call. It’s no wonder that this approach tends to result in higher closing rates and higher customer acquisition rates.
Marketers Know the Actual Value of Customer Loyalty
Customer loyalty programs are a must for any company who takes customer retention seriously. Marketers understand that a great customer loyalty program not only increases engagement but also provides tons of analytical data. It presents a wonderful picture of how marketing and sales can be combined to increase revenue. As customers engage with and purchase goods through a loyalty app, this interaction can all be tracked. The data gleaned from this interaction can provide insights into a customer’s spending habits, frequency of purchases and preferences. This information can then be used to personalize the user experience for that customer, offering goods and services that specifically cater to their needs, wants and tastes. As we all know, the much sought-after personalised experience is critical to building loyalty among customers.
How Customer Loyalty Can Boost Sales
A great example of how customer loyalty creates value can be seen in UBU International’s customer loyalty program. UBU provides an incredible platform for growth through our online marketplace. Companies that sign up are exposed to a massive new audience, providing the perfect setting in which to grow their business. Through the built-in UBU wallet, mobile payments are easily facilitated, meaning that businesses are left with one less headache.
Marketers will no doubt love the data that the UBU loyalty program provides, as it allows them to gain deeper insights into what and when their customers are purchasing. They will also be able to track which items are moving quickly and which tend to remain on the digital shelf a while longer. All of this information can be used to shape further sales and marketing campaigns.
For businesses that make use of streaming, the UBU loyalty program also offers an excellent live streaming platform. Organisations can make use of this platform to host webinars, summits and even live performances.
It’s a Marketer’s Dream.
The synergy between marketing and sales is undeniable. By continuously leveraging the analytical data received from marketing, sales departments are better equipped to speak to the customer’s need, overcome any objections, and, ultimately, close the deal and boost sales. From a growth perspective, aligning sales and marketing puts companies in a position to acquire new customers and retain existing ones. For any business hoping to boost sales, especially in the digital space, aligning marketing and sales is an absolute must.