Marketing meets sales
With access to seemingly infinite content, consumers have most likely embarked on the “customer journey” well before they even connect with the provider for the first time. They expect accurate, fast, and consistent information across all channels and departmental boundaries between marketing and sales. Go-to-market functions, especially between marketing and sales, are increasingly melding with one another.
Unifying all data from marketing and sales has now become indispensable for long-term successful business performance. Based on this data, it is possible to recognize patterns, to assign the individual behavior of customers to customer groups and market segments, and thus to plan, control, and implement processes successfully.
Data marketing’s seismic shift
Typical metrics such as website impressions, unique visitors, raw and qualified leads, sales growth, sales targets, customer acquisition costs, churn rates, sales cycle length are among the increasing list of commonly used marketing metrics. The collection, control, and analysis of all of this data has evolved into its own business function. When applied properly, data can turn into real insights. Take the example of the ecommerce fashion giant Madeleine.
Launching five main collections and several sub-collections each year, the Nuremberg-based company sought to streamline its marketing and sales planning using a single Web application. Because the company required a 360-degree customer view, the in-house business analysts worked on creating a dashboard that would visualize the performance of different departments through KPIs, charts, and product images. This dashboard, which is targeted to marketing, sales, managing directors and other decision-makers, is sourced through an automated standard reporting solution that produces consistent KPIs across the company. Now its users can effectively plan advertising campaigns, customer development, and e-commerce channels to deliver bottom line results. In-house business analysts have continually extended their BI solution to create an innovative, self-service platform for enterprise reporting.
Despite the size of the organization, marketing and sales operations or so-called “revenue operations” are now becoming the norm. It is a relatively new function within the go-to-market process, providing marketing and sales more efficiency with the ability to deliver desired business outcomes through people, process, technology and data. This new role requires the ability to manage the various marketing and sales automation platforms, such as the website, CRM system, content management system, and integration with related technologies. In addition, marketing and sales teams have to oversee technology for landing pages AdWords, social media, and account-based-marketing to ensure alignment across the organization. The traditional forms of sales-support activities have had to make way for new digital-based skills in the data management arena.
Collaboration is a must
Collaboration is an essential part of the value creation process and the key to long-term optimization of marketing and sales operations. Integrating all sources of data into a single source of truth allows for simplified KPI modeling with real-time access to information for any user at any time. A unified data foundation enables a simplified dashboard for the entire company. It can provide an Excel-based solution for Finance and for the sales function directly in its CRM solution.
This approach provides all stakeholders with a consistent and accurate overview of all marketing and sales operations, thereby allowing the emerging and highly competitive digital landscape to become an opportunity instead of a threat.