Are Your Sales and Marketing Teams Out of Synch?
It may be time to consider combining your inbound marketing strategy with more of an account-based marketing (ABM) approach.
In today's competitive landscape, where personalization and targeted outreach are paramount, the alignment between sales and marketing teams is more critical than ever.
While inbound marketing is all about giving your audience the information they want when they want it, ABM is a business marketing approach that, based on your objectives, identifies and targets accounts that are most likely to want to work with your company. It then prioritizes personalized outreach designed to engage and nurture contacts through the buyer’s journey based on their specific needs.
This holistic and dualistic approach is a great way to both find new prospects and remarket existing customers while encouraging upselling and cross-selling to drive long-term value from your contact list. According to a 2019 ABM Benchmark Study, 71% of companies stated that they see somewhat higher or significantly higher ROI after implementing ABM compared to traditional marketing initiatives. This number increases drastically as programs mature over time.
To be truly effective, however, ABM programs require synergy between marketing and sales departments. When sales and marketing teams are out of sync, ABM initiatives can falter, leading to missed opportunities and decreased revenue.
The disconnect between teams often stems from a lack of shared goals, misaligned or separate metrics, and a breakdown in communication. For example, sales teams may prioritize closing deals, while marketing teams focus on generating leads. This disparity can result in a disconnect between the marketing efforts and the needs of the sales team.
When sales and marketing teams are not aligned, ABM initiatives can suffer in several ways:
- Ineffective Targeting: Misaligned targeting efforts can lead to wasting resources on accounts that are not a good fit.
- Poor Lead Quality: If marketing is not generating leads that align with the sales team's criteria, it can lead to a decrease in conversion rates.
- Delayed Response Times: A lack of communication between sales and marketing can result in delayed responses to leads, potentially losing valuable opportunities.
- Inconsistent Messaging: Misaligned messaging can confuse prospects and damage brand reputation.
Strategies for Aligning Sales and Marketing Teams
To ensure that sales and marketing teams are working together effectively for ABM success, consider the following strategies:
- Define Shared Goals: Establish clear, measurable goals that both sales and marketing teams can align around. These goals should be specific, measurable, achievable, relevant, and time-bound (SMART).
- Establish a Joint Operating Plan: Create a document outlining the roles, responsibilities, and processes for both teams. This plan should include guidelines for lead generation, qualification, and nurturing.
- Utilize Shared Tools and Data: Implement tools that allow both teams to access and analyze the same data, such as CRM systems and marketing automation platforms. This will facilitate better communication and collaboration.
- Foster Open Communication: Encourage regular communication between sales and marketing teams through meetings, email, and instant messaging. Create a culture of transparency and collaboration.
- Implement a Feedback Loop: Establish a system for feedback and continuous improvement. Regularly review the effectiveness of ABM initiatives and make adjustments as needed.
For the best results for your ABM initiatives, aligning sales and marketing teams is essential. By using the tactic outlined above, organizations can create a more cohesive and effective approach to ABM.
To get your fledgling ABM programs up and running, utilize the top tactics below:
- Marketing Automation: email marketing/e-newsletters, SMS, automated journeys
- Account-specific custom content and thought leadership
- Reverse IP/targeted digital ads/retargeting
- Paid social media
- Webinars and virtual events
- Paid search
- In-person events
Need help? BBG&G Integrated Marketing’s strategies can help you:
- Identify target accounts: Leverage our research, data-driven insights, and industry expertise to pinpoint your ideal customers.
- Develop personalized content: Create compelling, tailored content that resonates with your target accounts, from website copy to email campaigns.
- Execute targeted outreach: Implement effective outreach strategies, including personalized email marketing, nurture journeys, social media engagement, and direct mail campaigns.
- Measure and optimize: Track the performance of your ABM initiatives and make data-driven adjustments to maximize ROI.
- Improve customer satisfaction: Build stronger relationships with your target accounts.
- Enhance brand awareness: Position your company as a thought leader in your industry.
Do you want to align your sales and marketing teams, achieve greater success with your ABM initiatives, and drive sustainable business growth?
