Do you know the ins and outs of how your audience is buying? Do you know what is critical to driving sales and increasing revenue? More importantly, are you successfully tracking and analyzing your company’s ROI? If you answered “no” to any of these questions, we have a few tips to help you better understand what you may be doing wrong, and how to remedy it.
According to Modern Marketing Today’s study with the Content Marketing Institute, “only 21 percent of marketers say they are successfully tracking ROI.” This is a frighteningly low number. Why? When it comes to marketing campaigns, you want to make sure your efforts result in leads or MQLs, which in turn result in opportunities and sales – that’s the name of the game. And there are so many tools out there to measure this. However, there is often a piece of the puzzle missing, which lowers the possibility of revenue growth.
Using the power of data and measuring output is important. In addition to that, though, alignment of sales and marketing teams lead to greater success. MarketingProfs found that “companies with aligned sales and marketing teams generated 208% more revenue from promotional activities.” By collaborating, businesses get a better idea of how their customers buy and can then follow along with them at every point in their buying process.
The AMA offers four great first steps to aligning marketing and sales. These include:
- Outline and deliver company goals from C-level.
- Create and share engaging content that will push customers down the sales funnel.
- Evaluate lead generation differently – focus on the quality of leads, rather than the quantity.
- Remember ROI – when sales and marketing teams work together, they can better report ROI.
When sales and marketing are both working toward the same goals, activities will align to the customer buying journey, which will result in revenue outcomes, not just lead generation. This is because you’re able to put together a stronger marketing approach that will result in closed deals and long-lasting, valuable relationships. By using this method, you too can take part in higher revenue outputs (as proven with the paragraph above, aka 208% increase).
At RenderTribe, we focus on helping marketing align to sales outcomes. We believe this is one of the most important ways to increase ROI because it focuses on understanding what is working and calibrating all marketing activities. For us, one of the keys to this is PipeMine. PipeMine combines a business intelligence platform, a proven methodology, and a team of analysts to make sure you measure all marketing and sales activities to pipeline and closed revenue.
For inquiries, please do not hesitate to reach out to us. We’d love to hear from you.