What could your bottom-line look like if your Marketing and Sales teams operated as a married couple, working towards the same goal – a healthy bottom line for your business? And what if Sales could double or triple the conversion rate of leads or prospective new clients generated by Marketing?
By setting up a simple lead nurture program, a 30% lead conversion ratio can easily turn into an 80% conversion ratio. Here’s an example: an associate at an accounting firm spends an hour with a new Lead educating them on a self-managed super fund (SMSF) only to find that once the set-up costs and ongoing fees are discussed their Lead opts out as they find it not viable.
Now, what if Marketing was made aware of this challenge and set-up a lead scoring methodology that assists Sales in prioritizing Leads and schedule one-hour meetings only once the Lead is more informed about SMSF including the set-up costs and ongoing fees and is closer to making a commitment?
This step can be done without the assistance of a salesperson and here’s how. When the Lead makes an inquiry on the accounting website, a system-generated email is fired asking the Lead more information about what they want to achieve i.e. property investment, share investment, commercial or residential property?
When the Lead responds, an email is triggered with a link to a video or paper outlining what is involved in setting up a SMSF including the set-up costs and ongoing fees. The Lead has now grown their knowledge on the subject, has a clearer understanding of what the costs, benefits, and implications are of setting up a SMSF and is one step closer to making a purchase decision. After watching the video or reading the article, the Lead has the option to either cancel the appointment (saving the accountant an hour) or proceed by making an appointment to meet with the accountant.
Stop and think about how this example of tying the knot between Marketing and Sales can benefit your business.
Here are a couple of thought starters
A consistent message about your value proposition will have a profound impact on your business. What the marketing department is saying should be reflected by the sales team. By aligning your approach, you can educate, help and counsel all the way through the entire life cycle of the customer.
In the same way, a husband and wife put their salaries together to buy a house, by putting your dinners and golf budgets together with your marketing budget you could eliminate unproductive activities like trade shows and golf outings and instead focus on the highest return activities like websites, email campaigns, lead nurturing, content creation, and social media management with full trackability and the option to optimise.
The only way a husband and wife can solve a challenge is by getting in the same room and working things out. Get your sales and marketing in the same room and working on the same challenges and focusing on a single task. By working together, they would understand each other and become an integrated team. 4. Content Collaboration: By getting married sales and marketing could do things together like create educational videos that highlighted the salespeople so when they finally met their prospects, the prospects felt like they knew them, liked them, and trusted them.
Most importantly, sales and marketing are committed to each other, their goals would be aligned. Their hopes and dreams would now be one. Revenue would grow and great a loving and lasting relationship would develop and flourish.