While your martech stack undoubtedly plays a critical role in helping engage customers externally, there is an internal benefit to marketing technology, too.
Sales and marketing have a rocky past together. Though both teams have technically worked toward the same goal, namely, to drive more revenue, since the beginning days of capitalism, both are guilty of conveniently blaming one another when things do not turn out as planned.
Who could forget the classic scene between Jack Lemmon and Alec Baldwin in Glengarry Glen Ross where Lemmon’s character, a salesman, declares, “The leads are weak!” and Baldwin’s character rebukes: “YOU are weak!” Perhaps no scene has better captured the contentious relationship between salespeople, who believe marketing needs to generate more or better leads, and marketers, who believe their sales counterparts just cannot close the deal.
Today, however, in the era of big data, attributing successes (and failures) is easier than ever, so the blame-game played between the two sides has lost its fervor. In its place are strategies like account-based marketing that bring more alignment between sales and marketing through shared goals and target accounts.
Your martech stack plays a critical role in facilitating that alignment. How?
#1. Your CRM Creates a Common Source of Truth for Sales and Marketing
While marketers have generated their own insights on leads for quite some time, there is a history of marketing losing sight of the customer after conversion. CRMs have long been a resource for sales and support teams to track customer interactions, but marketers have not, until recently, really leveraged the data from CRMs for campaign development. Today, most CRMs (including the Goliaths of the industry like SalesForce) understand the value marketers extract from existing customer data. By making CRMs a common platform among salespeople and marketers, organizations achieve better alignment on customer segmentation, demand generation, and lead scoring.
#2. Lead Scoring is Now Data-Driven
Lead scoring has been a common practice between sales and marketing for some time. With the power of your martech stack to fuel bigger and better insights through inbound data, the accuracy and effectiveness of lead scoring have reached new heights. Nothing strengthens a bond between two rival teams like supporting one another in making more money, and that is exactly what a good lead scoring strategy does. Sales and marketing both benefit from higher conversion rates, which equate to more revenue.
#3. Your Data Management System Ensures You Are Aligned on the Right Accounts
Funneling inbound data through a single data management platform like ReachForce enables sales and marketing to maximize their account-based marketing strategy. Data management systems unify inbound data streams into a single source and enrich them with third-party data to help sales and marketing teams agree on which target accounts have the biggest possible potential for growth.
Sales and marketing alignment starts with your martech stack, and one essential component of your martech stack is an effective data management system like ReachForce.