What is Smarketing?
Business strategies are regularly tweaked and shifted in an attempt to find a smart marketing and sales balance. If the two departments are in sync, then the processes of generating and converting leads improve.
Smarketing aims to establish a common integrated approach between the sales and marketing departments. It starts with a common goal. There should be a universal understanding that individual and team efforts go towards growing the customer base and increasing overall revenue.
From there, the marketing and sales teams must work together to achieve that goal. Smarketing is a combination of open communication, unified structure, and key performance indicators. Here’s how to incorporate the practice into your business.
How Can Your Company Effectively Execute Smarketing
Establish Open Communication
Too often, a lead lands on a salesperson’s desk without sufficient background information. A name and phone number aren’t enough. The sales rep should know which advertising stream the lead came from, when they expressed interest, and what, if any, additional communication has taken place since then.
The marketing team member who qualified the lead should always provide that information. Why? Because the sales staff can use the information to its advantage.
Smarketing involves documenting details at each stage of the sales cycle, from the initial qualification to the demo/pitch. This leaves nobody in the dark, and the person handling the current stage will know who to contact if questions come up about previous stages.
Instant messaging platforms are advanced and extremely beneficial. A sales member can directly contact a marketing member and vice versa. You can isolate group conversations for individuals involved in a specific project and create contact lists for easy access.
It’s all about creating and encouraging dialogue between the departments. Feedback, questions and answers, and status checks can help accomplish sales goals.
Create a Unified Structure
Smarketing defines roles to prevent overlapping and wasted effort. The sales team must understand the marketing roles, and the marketing team must understand the sales roles. That’s not to say one department needs to perform the tasks of the other department. Instead, each department will learn to respect the other’s space.
Ultimately, marketing educates and informs consumers, which lays the foundation for solid leads and smoother calls for sales reps. Once the marketing team nurtures and qualifies a lead, the sales team takes the reigns.
There’s no need for the sales staff to test its luck with cold calling when it can save time and lean on promising marks set up by the marketing staff. On the other hand, there’s no reason to flex the budget on ad campaigns when salespeople can work their magic on qualified leads. It’s all about trust!
Smarketing accomplishes sales and marketing alignment. The approach is concise, organized, and defined.
Tools that Influence Smarketing
Service Level Agreement (SLA)
An SLA is your map to smarketing success. It sets goals that are guided by buyer profiles, lead definitions, nurturing practices, and tracking details.
SLAs are extensive documents that require collaboration amongst executives and department heads. They do not have to be exact. What’s important is developing a robust smarketing strategy and determining your primary goals. Think about the best metrics for evaluating the plan. Monitoring conversion rates, forecast accuracy, sales funnel leakage, and closure rates will help you reach your goals for increasing sales revenue.
Customer Relationship Management (CRM)
CRMs gather vital data on potential consumers and existing consumers. A business can use the data to reach out to customers through email marketing and retargeting, along with other strategic efforts. Studying a consumer’s habits shines a light on sales opportunities.
Sales and marketing departments can share CRMs. They can use the information from CRMs to their advantage and determine a customer-by-customer approach to converting a sale.
Are you ready to smarket?
Smarketing is the opposite of a math equation where there’s a single solution. In other words, your smarketing approach works through several small victories and solutions. Witnessing a sales rep reach out to a marketing rep to learn about a prospect’s online habits is an example. Also, an improvement in closure rate signals that a higher percentage of leads are being converted, meaning salespeople are wasting less time pursuing shaky leads.
Before you know it, your company will accomplish the significant goals laid out in your SLA. Revenue will grow, and more money will be available to enhance your smarketing campaign further.