According to the latest joint global research by JointheDots and LinkedIn titled “The Payoffs of Improved Sales and Marketing Alignment,” about 21% of respondents feel there is no culture of collaboration between their sales and marketing units.
The research, which surveyed 3,516 sales professionals and 3,627 marketers, from Australia, India, Southeast Asia, the United Kingdom, and the United States found that while the majority of companies feel sales and marketing units are well aligned, many companies admit they still struggle on how to effectively forge a great partnership between these two critical units, which have often been at odds.
A good collaboration between sales and marketing will pay off in important ways – particularly by boosting financial performance and improving internal culture. But the question is how?
One of the ways, according to Assaf Tarnopolsky, LinkedIn’s director of marketing solutions for South East Asia, North Asia and Japan, is by placing both units’ shared objectives and KPIs (key performance indicators) on top of the priority list. Improving on better skills for both sales and marketing team and even job swaps can help too.
The research suggests that both sales and marketing teams should start with clear objectives and success metrics. This as over half (52%) of sales and marketing professionals cited that shared objectives and KPIs would help the business improve collaboration.
Here’s a checklist from LinkedIn on how to improve collaboration:
The research above also reveals that clients these days are looking for sales and marketing alignment and it is critical for the bottom line, with 58% of salespeople and marketers saying collaboration delivers improved customer retention and another 54% saying it boosts financial performance.
On top of that, sales and marketing units which work hand-in-hand will have a strong impact on the customer buying experience while also delivering desired business outcomes.
On the other hand, a lack of alignment between both divisions will have a direct negative impact on customers and business.
While achieving such collaboration is easier said than done, the report’s findings suggest it’s worth ensuring your company’s sales and marketing departments maintain a happy marriage, for improved customer retention, efficiency, financial performance, and productivity.