During the month of April, QuotaFactory and The Marketing Advisory Network set out to survey the sales and marketing landscape to benchmark how far collaboration has come between the two departments and ultimately how aligned the two departments are in 2016.
We surveyed 123 sales and marketing professionals across a wide range of organizations that span a variety of industries. Although, efforts to improve sales and marketing alignment have been in place for quite some time, our research proves that there is still significant room for improvement.
Key Findings Include:
- Misalignment is pervasive
- Shared goals is essential
- Service level agreements are a differentiator
- Direct marketing interaction with buyers is critical
- Communication variety, not volume, is the key
According to our research, only 20.59% of marketing respondents agree that they do a superb job of supporting sales efforts while 51.16% of sales respondents agreed with the statement.
What does this tell us? Several key things. One, if marketing respondents generally do not feel as though their efforts are making a difference, but sales thinks they are, then marketing is not being appropriately recognized for their work. Second, we can note that communication is a challenge between the teams seeing as both both reported significantly different results when asked the same question.
To take a deeper look, we asked respondents to list where their teams are misaligned. Those organizations that missed revenue goals also reported that they did not share KPIs between sales and marketing. Those that did share KPIs, exceeded revenue goals twice as frequently.
It’s apparent that both sales and marketing professionals need to have clearly defined and aligned KPIs if everyone is going to work together to achieve revenue goals. It also turns out that there isn’t even alignment around what technologies are utilized across departments to aid in achieving those set goals. 28% of marketers believe less than 25% of assets are used, where only 3% of sales report the same.
Areas of Sales & Marketing Collaboration Explored in the Report:
- Compensation for marketing supporting the sales function and vice versa
- Lead generation efforts and follow-up
- Adoption rates of sales and marketing tools
- Service level agreements (SLAs)
- Quota attainment
- ...and more!
It’s time to put some actionable goals in place to further align your sales and marketing team for improved results and increased company revenue. We encourage you to read the report and then download our guide, The Optimal Marketing and Sales Process for Sales Acceleration, below to start taking the necessary steps.
For full access to the Sales and Marketing Benchmark report, check it out here.