Imagine a room filled with B2B marketers, passionately discussing their shared experiences in aligning with their sales teams to achieve optimal results. Now, picture adding a touch of wine and competition to the mix – that's precisely the setting of yesterday's Chief Wine Officer dinner event, hosted by Pipeline360 in partnership with Chief Nation. Held at the prestigious two Michelin star restaurant Trivet in London, the event brought together some of the brightest minds in B2B marketing.
The primary focus of the evening? Sales and marketing alignment – a perennial challenge that continues to plague many companies despite years of effort to bridge the gap. As someone deeply involved in addressing this issue, I can attest to its complexities and the need for innovative solutions to foster collaboration and drive results. And I wasn't alone in this sentiment; the event sparked insightful discussions, and here are some key takeaways we thought were worth sharing.
From ABM to ABX?
One key trend that has emerged in recent years is the shift in terminology from Account-Based Marketing (ABM) to Account-Based Everything (ABX). This change reflects a broader recognition that ABM is not solely a marketing initiative but rather a strategic approach that requires alignment between sales and marketing teams. By removing the 'marketing' element from the term, companies are acknowledging that ABX is a holistic sales and marketing solution aimed at driving revenue growth through personalised engagement with key accounts.
Central to this alignment is the need to measure success in terms of the three Rs: revenue, reputation, and relationships. Rather than focusing solely on marketing metrics such as MQLs, SQLs, SALs, aligning results with sales outcomes ensures that both teams are working towards shared goals. However, achieving this alignment requires a concerted effort to establish shared KPIs and goals—a task that many companies are still grappling with but recognise as beneficial.
In Alignment we Trust
Building trust amongst the sales team is another crucial aspect of successful alignment. Marketing teams must position themselves as valuable partners who are here to help solve sales challenges. By actively seeking input from sales and addressing their pain points, marketing can demonstrate its value as a strategic ally in driving revenue growth. However, trust doesn’t just come in the form of proactive curiosity – you need to build a united culture amongst the teams and that means getting to know one another, learning about your common interests and socialising together outside of the work environment. Treat both departments like they’re your own.
The Pivotal Role of BDRs, Objectives and Incentives
Effective alignment between sales, SDRs, and marketers is crucial for driving collective success in B2B companies. When Business Development Representatives (BDRs) are integrated within the marketing function, aligning their revenue goals with sales objectives becomes imperative. This alignment ensures that they are motivated to focus on activities directly contributing to revenue generation and sales success.
Misalignment in metrics and priorities among sales, SDRs, and marketers can result in conflicting objectives and strategies. To mitigate these challenges, fostering open communication and aligning around common goals are essential. By doing so, companies can overcome differences and work together towards shared success.
Incentives play a pivotal role in aligning the efforts of sales and demand generation teams. It's crucial to recognise that different roles may have varying priorities. While VPs and Demand Marketers may have overarching strategic goals, aligning their compensation with sales reps can incentivise collaboration and drive collective success.
Effective Lead Follow-Up
A very common pain point for marketers is the challenge of ensuring timely follow-up on leads by the sales team. Addressing this issue requires a collaborative approach, with clear communication channels and processes in place to ensure leads are effectively nurtured and converted into opportunities. Long gone are the days where marketing secures a lead and then hands it off to sales to never hear of it again. Marketing needs to be involved in all stages of lead follow up right until close, because a lead handed off to sales still needs to be nurtured, educated and reminded from marketing, about your product. So, teams, to quote Simon, “remember we’re no longer running a relay race, we’re all on the football pitch!”.
In conclusion, achieving alignment between sales and marketing teams is essential for driving growth and success in the B2B landscape. By embracing a holistic approach, aligning goals and incentives, and fostering trust and collaboration, companies can overcome the challenges of sales and marketing alignment and unlock their full potential for revenue growth. It's time to break down silos, embrace collaboration, and chart a course towards collective success. And if we can do that with a wine in hand, then, we’re all winning!
On a lighter note, one question that eluded many of us was: which option is more sustainable – corked wine bottles or those with metal screwtops. What's your guess?
