So many of us have been pointing to the gap between marketing and sales for years, recognizing that the siloed operation of these teams have worked counter to the goals of the business. Hubspot did an analysis of the cost of this gap and noted:
- Misalignment between sales and marketing technologies and processes costs B2B companies 10% of revenue or more per year.
- Companies with good marketing practices in place generated 208% more revenue from marketing efforts.
- When sales and marketing teams work together, companies see 36% higher customer retention and 38% higher sales win rates.
While these statistics are a couple years old they are still relevant today. Even more importantly, so is the core message. If marketing and sales fail to work as one than you are leaving money on the table.
CMO.com spent time on this in March, and included this great quote from Adobe CMO Ann Lewnes:
“The CMO is as accountable for company growth and customer loyalty as any other function and must work cross-functionally like never before—across product groups, sales, IT, and finance—to drive the business,” said Adobe CMO Ann Lewnes. (CMO.com is owned by Adobe).“
The CMO must take the lead in today’s enterprise. They must work as the Chief Collaborator, as the single voice of the customer (current and future), and align the business strategy, tactics, and technologies around the goals that lead to putting the customer at the center of how a company operates.
Our recent launch of Bigtincan for Adobe is meant to be a part of the solution, staying true to the statement of being designed by Marketers for Marketers to Empower Sales. It goes further than that as well. By aligning with key technologies that enterprises count upon today we are helping the modern CMO maximize current technology and content investments, add a deeper understanding of sales as part of their omni-channel efforts, and in so doing better align with sales, finance, IT, and the rest of the organization.
If you are like most businesses, you cannot afford to lose out on the benefits of this overall alignment. 10% more revenue, higher win rates, longer lasting customers. Want to talk further about how your business can benefit? Contact Bigtincan today!