Tag Archives: MathMarketing

International Survey Reveals Why Alignment Drives Growth

A few years ago the respected thought-leaders, MarketingProfs and MathMarketing, collaborated on a major international survey to gain insight about why some companies grow faster than others. Sales and Marketing Alignment Benchmark  focused on identifying what, if anything, high-growth companies did differently in their sales and marketing departments compared to their lower-growth competitors. A summary of the report is available here.

Survey Results: How Aligned Companies Outperform Others

Here are some of the impressive and shocking findings about companies with aligned sales and marketing:

  • Grew 5.4 points more than their competition
  • Closed 38% more proposals
  • Lost 36% fewer customers
  • Marketing contributed at least 24% of the revenue opportunities
  • Marketing was compensated, in part, on the conversion rate of proposals (deals won).

Do You Really Need Sales Training?

Is revenue flat or heading south? Time to invigorate the sales force with the latest sales techniques, right? New head of sales takes the reins with the job of transforming the revenue engine. Time to bring in the sales trainers, right?

Maybe yes. Maybe no.  Upon closer examination your revenue problem may not be due to a lack of sales skills.

The pros at MathMarketing (for whom I am a certified Funnel Coach in North America) can point to case study after case study of clients who approached them for sales training (they also provide Miller-Heiman training in Australia) only to see that what they really needed was something very different.

Try asking yourself three questions.

  1. “Is our revenue problem the result of Sales not being able to close opportunities effectively and efficiently?” If the answer is yes odds are good that sales training is the ticket.  But, try asking two more questions.
  2. “Is the root cause of the revenue problem related to either  lead quality or lead quantity?”  If a brutally objective evaluation of your revenue engine revealed that lead quantity and quality are not adequate, what you should consider is Marketing training,  not Sales training.  I’m not talking about the 45-minute-free-webinar-on-email-marketing type of training either.  For an example of black belt marketing training visit Funnel Academy. Now for the third question.
  3. “Is there a lack of efficient and effective progression of  names, prospects and opportunities  through the sales funnel?”  Two good indicators of this issue are an elongated sales cycle and a growing number of prospects who drop out of the funnel.

Don’t be surprised if upon closer evaluation you decide that #3 is the root cause of your problem. Many companies come to this conclusion.  What’s usually behind this performance-killer is a lack of a clear, measurable action plan that tightly aligns the tactics of Sales and Marketing throughout the funnel.

MathMarketing has a rapid methodology for guiding companies to close the gap between strategy and revenue results. It has worked wonders for companies  large and small on four continents. We call it Funnel Camp. It aligns Sales and Marketing in a way that dramatically improves revenue generation efficiency and effectiveness.

Sales training will move the needle for your organization if the root cause of your revenue generation headache is a deficiency in Sales skills. Look deeply into the cause before deciding to go down the Sales training path.

Do you know your sales funnel like the back of your hand, or the back of your head?

If your CEO, head of marketing, and head of sales can all agree that the following information is known than step to the head of the class.  However,  I suspect that you won’t pass the test, meaning your company is like 90% of other B2B companies that are:

  1. Struggling to align marketing and sales,
  2. Struggling to hit their revenue numbers,
  3. Struggling to develop a believable plan and budget for 2010,
  4. Struggling to achieve a comfortable level of transparency into the sales forecast.

Often you’ll know:

  • The size of your market
  • How much revenue you need to generate out of that market

But do you, or the team, know:

  • How many deals you need to close each month?
  • How many proposals that will take – for each month of 2010?
  • How about first meetings (you know the one, the “Hi, thanks for making the time, tell me about your business”)? How many do you need in month 1,2,3 and next year?
  • And how many leads will that take from Marketing, and how many must Sales generate itself?
  • How about the market? Do you know how much of that market you need, and whether (and how tightly) you can (or must) focus?
  • Does everyone in Sales, Marketing, Finance and Operations have the same view of these numbers? Or are there disconnects?
  • How do these planned numbers compare to your current numbers?
  • Which of these do you know, and which of them are gaps in the understanding of your funnel?

So, how well do you, and your team know all of the numbers, and what does the future hold?
You need to have a simple, single model of your demand for 2010 (and beyond), outlining
your total funnel – top to bottom.

If you’re wondering where the gaps are in your ability to plan and execute a revenue plan effectively contact me. As a certified Funnel Coach in North America for MathMarketing there are many ways I can be of service to you this year, and some are even free.

My colleagues at MathMarketing in Melbourne have a nice habit of hitting the nail on the head when it comes to discussing funnel management, revenue planning, and marketing training, which is why I boldly lifted the above (in italics) from their literature. Thank you, mates.

Forget about Branding. Get Marketing Closer to Revenue.

If you are a B2B marketer reading this your job could be in jeopardy and you don’t even know it.  If you are a CEO or CSO you’ll see why you tend to be frustrated by the marketing function at your company.

Try this. Make a list of all the tactics your demand generation campaigns include. For each of the tactics make a note of what the objective is.

In most companies a majority of the list includes tactics devoted to “building name awareness”, “getting our name out there”, “positioning the brand against the competition,” etc.   Good enough,  but what about the tactics that move buyers into and through the funnel?

If Marketing’s primary focus is on branding, it isn’t doing enough to partner with Sales in driving revenue.

How should a company view the role of  Marketing in its revenue generation process? I suggest you register for free 45-minute webinar on July 29 at 2:30 EDT.  This webinar is being presented by MathMarketing, a thought-leader in the area of sales and marketing alignment. (I am associated with Math Marketing as  a Funnel Coach in North America).

Here’s what will be covered:

  1. The 4 most common reasons Marketing fails to deliver accountable results
  2. 3 proven steps to get Marketing and Sales on the same, revenue-accountable track

If moving Marketing closer to revenue is important to you I suggest you register today.

Deep in the Heart of the (Sales) Funnel

(This is a copy of a post I made on my other blog, One Riot – One Ranger)

When the going gets tough, the tough fine-tune their sales funnel processes for greater efficiency and effectiveness.

So many companies today find themselves trying desperately to succeed with fewer marketing and sales people and with less budget.  I like to think of this situation as having to step into the OK Corral with only four  bullets in my gun instead of six.  Every bullet has to hit its mark. No room for waste or ineffectiveness.

Marketers and sales people realize this, but it does raise two questions:

  1. What should we be doing more of?
  2. What should we be doing less of?

If a company’s sales funnel has been designed around the buyers’ journey, and if both Sales and Marketing have aligned their strategies and tactics to this journey then they will find the answers to both questions in the metrics that result from a well managed sales funnel.

If there isn’t alignment around the buyers’ journey then sales and marketing are likely working at cross purposes to one another and there is an unacceptable level of trial and error in the tactics.

Research* has proven that companies who have aligned their marketing and sales activities to the buyer’s journey win 38% more of their proposals, lose 36% fewer customers each each year and grow 5.4 points of growth more than companies who aren’t aligned.

Not all sales funnel processes are equal. Most are too simplistic or are centered on the seller’s journey not the buyers’ journey.  A rock-solid funnel model factors in lag, leakage, and recycling–there’s nothing “simple” about the dynamics of a funnel.

There is a way to mine the  sales funnel expertise of major corporations around the world. You simply need to plug into the minds that developed the processes for these global brands and built the tools to support the processes.  That is easy.  The world’s leading authorities on sales funnel management and performance are at MathMarketing. They now offer black belt workshops  that teach companies and marketers how to do this.  Known as the Funnel Academy(tm), these workshops are now available in the U.S. CEO’s should make these programs  mandatory for every B2B marketer and sales manager. For that matter the CEO’s should participate, too.  This is the best B2B marketing training on the planet.