by: Stephanie Lanik
What if those leads aren’t ready to buy? Well, thanks to better collaboration between the two departments, those leads can be sent back to marketing for further nurturing – Making sure those leads who may buy in the future aren’t neglected.
And when it comes to nurturing leads and increasing conversions, there’s nothing more important than a strong sales-marketing alignment, or as we call it, Smarketing.
WE CAN HELP FILL THAT GAP!
Driving Increased Conversion Rates & Customer Retention
In fact, evidence suggests that:
- When both sales and marketing share responsibility for lead nurturing, companies experience a significant increase in conversion rates (Source: CSO Insights, 2014).
- Aligned organizations had 67% higher conversion rates and their leads generated over 209% more revenue (Source: Marketo, 2019).
- Organizations with strong sales and marketing alignment saw a 36% higher customer retention rates (Source: SuperOffice, 2019).
For example, once you’ve acquired a new customer, your marketing team should shift their communication from attracting to growing and influencing a customer to stay with your business, try new products, upgrade their product, add more licenses, etc. – with your sales team ready to step in at any time.
Bringing Inbound Marketing & Sales Development Together
A successful inbound marketing campaign relies on both marketing and sales working as one team towards the same objectives. This alignment is of particular importance when it comes to the nurturing process, as teams must jointly:
- Focus on lead qualification, and have a unified definition over what constitutes a good Marketing Qualified Lead (MQL) and a Sales Qualified Lead (SQL) – and what does not.
- Implement a lead scoring system to ensure that only quality, qualified leads are included in your nurturing strategy.
- Collaborate on nurture content and share insights over appropriate publishing channels to maintain awareness with your audience.
- THE MOST CRITICAL COMPONENT: Agree the defined point at which a lead should be handed from marketing to sales as they progress through the funnel.
All in all, when these departments work together, the entire company reaps the benefits.
Here’s a handful of lead nurturing strategies designed to help you manage your leads and improve your lead conversion rate. FREE checklist included…
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