A singular sales and marketing funnel maximizes performance
Marketing and sales misalignment plagues many organizations, and if it isn’t resolved, it can lead to lost revenue. Sometimes the problem comes from the different definitions the teams use to define their goals. Instead of having multiple funnels, B2B firms need to have a single revenue and shared metrics between both marketing and sales to make the most of Internet lead generation campaigns.
If your organization’s revenue funnel is well-organized, the key players on both teams will have a clear understanding of their responsibilities. Without collaborative efforts, leads can end up dropping out of the funnel mid-way through the sales cycle. In fact, as Marketing Land noted, most B2B organizations lose 79 percent of their leads in the middle of the funnel. This is a significant waste of time and resources. Rather than dedicating all marketing efforts to generating new leads, companies need to focus on converting the leads they already have in the revenue funnel.
Shared metrics and goals lead to better internal alignment
Both the sales and marketing teams need to be held accountable for the different stages of revenue generation, according to MediaPost. Performance tends to be better when both groups share the same goals and are analyzing the same measurements.
While marketing professionals may play a greater role in generating qualified leads, they occasionally need feedback from sales representatives to ensure their processes are in line with the other team. Marketers can’t continue to supply quality leads if they don’t know what their counterparts in sales are looking for. Even if sales or marketing is responsible for a particular set of procedures, these processes must connect to the larger goals of the organization.
Rather than spending more money to generate a higher number of leads who could be lost in the funnel, B2B firms should make sure their marketing and sales teams are aligned to improve conversion rates and prevent revenue losses.