Sales and Marketing Metrics for More than Revenue
Welcome to the recap of our webinar Elephant in the Room, Why Sales and Marketing Clash. If you missed it, here we have the actionable takeaways including Sales and Marketing Metrics, cool new vocabulary, and some jokes that you can take credit for.
One of the key takeaways from this webinar was the discussion around metrics. Marketing creates demand, presales creates the leads, and sales closes the deals, but how can management use a common metric for measuring success? Each one of the thought leader panelists listed revenue as the key metric, but sales success is measured in quotas, unlike marketing. What to do?
Fun Joke: With regard to sales motivation, founder Ed Jaffe told his brothers joke, who is in sales, that he is coin operated.
Panelist Lori Hood added that from a marketers perspective, depending on organization size, the marketing department can be out of scope and have too many metrics without the proper personel to measure them. Here we see a connundrum. If one party is paid for ideas and another is paid on quotas, how are we measuring success?
Another fun joke: Lori called a person who was an SEO Expert, content creater, CRM wiz, and marketing specialist a Swiss Army Knife. What organization can afford such a unicorn?
Success! One of the ways to measure success across platforms and pay structures is through the organization and accountability.
Organization and Accountability
When you spark the topic of accountability in a room of sales and marketing, you may as well dangle a tofu steak in front of tigers. This is nothing anyone wants to touch, however, when your organization really engages members of both teams in meaningful interactions that promote accountability, you will see real results.
Sometimes members of a team, such as Lori Wood, will go down the line in marketing and see how collateral is affecting sales and conversely, sales pros will reach out and say, this is outdated material, this is not what we are able to sell, we need to meet in the middle.
Where you see this play out to the detriment of the deal in an obvious way, is in the Demo, as Ed Jaffe explained. Outdated materials, or new materials from marketing that are not useful to client interactions, demos, and ultimately closing deals need to be continually updated and this communication needs to be institutionalized.
All panel members agreed there only exists individual accountability for communication breakdown between marketing and sales, whereby some of these super motivated members of sales OR marketing, make the effort to align.
What is the solution? Organizational accountability measures may be a start and formal alignment between teams and across materials. What the marketing needs to know and what the sales need to communicate is a calendar commitment.
Thank you! Panelists and Partners
It was great to get in the ring again with old colleagues discussing new perspectives. We look forward to the next webinar and offer the complete playback here.