Chief marketing officer roles and responsibilities are quickly evolving. Five to ten years ago, marketers were seen as cost setters — not revenue or growth-focused. Now, they’re just as responsible for revenue as the sales team.
In fact, the top priority for a CMO today is accelerating revenue growth across the organization:
In addition, Accenture asked a group of CEO, “Who within your organization is most responsible for driving disruptive growth?” The results showed that the majority of responsibility is in the hands of the CMO:
To meet this challenge, marketing teams have to align advertising data with sales goals.
According to HubSpot, 79% of leads never convert to sales partly due to a lack of nurturing. When there is nurturing through sales-marketing alignment, though, revenue can increase by 208%.
In our recent webinar with AdStage, we discuss how to drive more revenue with strategic paid advertising — by better aligning advertising data with sales goals.
If you missed it, here’s a brief summary to catch you up:
3 key takeaways
1) Creating processes and tracking outcomes don’t have to be manual procedures. Automating processes with technology is essential to ROI.
Connecting advertising and sales data can be tremendously challenging, especially when done manually.
- After capturing a lead’s personal information and tracking parameters (where they came from), it must all be sent to a CRM.
- From there, records must be pulled from CRM reports by downloading all of the ad data, and then put into columns in Google Sheets (be sure to expose UTM parameters as columns).
- Next, you must match the data sets and try to combine them into one set. Manually, this means drawing lines from one side to the other side.
Again — very challenging, time-consuming, and error-prone.
That’s why many businesses today have begun automating this process. With a product like AdStage Join, the entire process is automated and results in a clear, readable report:
From there, marketers can see where to optimize campaigns for sales closes rather than top-of-funnel. Overall, it shows the value of your ad campaigns in the context of your unique business goals.
This process isn’t the only one that needs to be automated, though. The post-click experience deserves attention as well — because despite spending tons of time and money to drive eyes to ads, about 96% of ad clicks don’t even convert. What a huge waste!
The solution: a Post-Click Automation platform.
The Instapage Post-Click Automation™ solution has proven to provide a 4x conversion lift — an average landing page conversion rate of over 16%, versus the industry average conversion rate of 4.4%:
The bottom line is that the post-click landing page is where the conversion happens, so you must own the post-click experience to get the most from your current ad spend.
2) Establish a ‘Smarketing’ team for sales and marketing to develop personas, enablement documentation, deliverables, and more.
Traditionally, the marketing team has focused on finding the customer and getting them in the door before sending to sales to close the deal. However, as attribution technology has improved, both marketing and sales teams must come together to establish a single team — a ‘Smarketing’ team.
Here are some ways how:
Create an SLA
In the digital advertising world, expectations usually come in the form of KPIs. Each team may have different KPIs, even though everyone is working toward the same goal of increasing revenue. Sometimes KPIs will overlap, but the teams will likely still care about them for different reasons.
For example, the marketing team may view lead gen as an opportunity to reveal which markets, channels, and targeting profiles yield high-quality leads, while sales is focused on identifying the leads that yielded the highest ROI and were easiest to close or convert.
The simplest (but often overlooked) way to get all teams aligned is to get everyone in the same room to decide on KPIs and record them in a shared document — an SLA.
In addition to overall goal metrics, the SLA should also include the characteristics of when and how an MQL becomes an SQL, and is, therefore, ready to be transitioned from marketing to sales.
See how you can help
Find out from the sales team how much marketing collateral is being used. Many marketing teams spend countless hours creating beautifully designed content, pamphlets, and presentations — however, they don’t get used because they weren’t originally created with a sales focus, don’t speak to a target customer, etc.
As part of the marketing team, see what new life you can breathe into those old pieces of content — how you can update or improve them. Find out what’s been working, what hasn’t, and why.
Keep communication open
Often, lack of communication is the cause of problems such as contrasting KPIs, missed deadlines, poor results, etc.
To avoid this, hold regularly scheduled meetings with marketing and sales teams to review KPI updates, in-progress work, collateral building, results data, and more.
Also include a process to give and receive feedback, because the SLA that you developed will eventually degrade if you don’t share results, and decisions made from those results.
3) Include psychographic data in your buyer personas to build a bridge between marketing and sales and deliver more high-value deals.
A major benefit of sales and marketing working together is that buyer personas can be created more accurately and effectively.
It’s easy for a marketing team’s buyer persona to include demographic information, geographics, and even behaviors. It’s not quite as simple, however, to add psychographic data — the potential buyer’s attitudes, personalities, values, etc.:
Psychographics can be quickly and easily identified when sales and marketing work together, because the sales team encounters many of these qualities during their interactions. They can provide feedback on the person they spoke to on a call, not just the customer. Or whether the person was interesting or had a good rapport, not just whether or not they converted.
2 great questions & answers
Q: How do we attribute conversions from retargeting to the segmented audience group that may have captured them first?
A: Setting up an attribution model within your marketing team is essential to tracking the many touchpoints customers have throughout their journey. How you assign attribution and value will be specific to your company, but there are many tools to get you started.
Q: I recently changed my website from http to https. Should I update my UTMs to not lose track of anything?
A: The UTM parameters will not be affected directly by this change since this only involves the codes at the end of the URL string. However, anywhere you are tracking the complete web address (main URL + UTM parameters) or using that in an automated process or report, will need to be updated with the new https address.
1 Compelling quote
79% of leads never convert to sales, partly due to a lack of nurturing. Furthermore, 73% of the leads that do get passed onto sales are never even contacted, partly due to a lack of sales and marketing alignment.
Sahil Jain, CEO & Co-Founder, AdStage
Watch the full AdStage webinar
It needs to be a top priority for today’s digital marketers to accelerate revenue growth across their organization. This means they must be willing to work towards aligning advertising data with sales goals to create one cohesive team with the same objective.
Watch the full webinar with AdStage to discover actionable tactics to align your sales and marketing efforts, and automate more of your customer journey.