🌾 Silos are great for oats, wheat or corn. However, silos don’t cut it if want to grow your business.
That’s why I joined the Rev Genius community. It’s a growing community where marketers and sellers talk, share and learn from each other.
Here’s 3 1/2 lessons reinforced by the community.
1. 🎳 Goodbye Silos. Hello GTM
Sales and Marketing need to be on the same team: Go-to-Market. That’s why I think the rise of the Chief Revenue Officer (CRO) is a good thing for many B2B companies, but only if the CRO has both a sales AND marketing background. (Shout out to Jeanne Hopkins & Carol Meyers). Here’s some data to that speaks to the power of sales/marketing alignment.
According to SiriusDecisions, B2B firms with tightly aligned sales and marketing operations achieve 24% faster three-year revenue growth, and 27% faster three-year profit growth.🚀🚀
And, an Aberdeen study found, highly aligned organizations achieved an average of 32% year-over-year revenue growth – while their less aligned competitors saw a 7% decrease in revenue.
You can achieve this alignment without a CRO. Start by communicating. And remember, sales reps aren’t lazy and a marketer's job isn’t to "making things pretty".
2. 🙏Try a little empathy and gratitude
Take some time to walk in each other’s shoes. For me, this means working as a BDR for a week, going on sales calls (pre-Covid), sitting in on discovery calls now. Pre-Covid, it meant standing in front of our booth at trade shows demoing our products. Because the more customers I spoke with, the better I could develop materials that addressed their pain points in the voice of the customer. (And that’s why I always ordered double padding. Man did my shins ache!)
It often shocked me that an account exec didn’t jump at the chance at bringing me along to sales meeting. All I wanted was to learn, and get closer to the customer in an unfiltered way.(I’d love to hear from AEs why you would object.)
3. 😱 Kill the MQL
It’s finally time to kill the MQL. We can still track the stat, though it’s really more about vanity. Many downloads are not from our ideal customer segments. They are from tire kickers, job seekers, college students, competitors, etc. What really matters is the contribution to pipeline and you’ll only get that from sales qualified or sales accepted leads. Let’s track what matters, even if it means less MQLs due to better targeting. Otherwise everyone is wasting time and resources.
For instance, just this week I got an email from a BDR offering me lunch (virtual) if I took a meeting. I’m a job seeker using my Gmail address, not even close to a qualified lead. Which leads me to 3A.
3 1/2. 🏆 Stop paying BDRs a bonus based exclusively on meetings set.
That "incents" them to book meetings with anyone with a pulse. Comp them on what matters, Meetings to Opportunities, Pipeline Progression, Deals Closed. A combination of all four.
Let’s work together on the one number that really matters: Revenue. 💰💲💵
And while we are at, let's finally destroy marketing and sales silos.