Key Takeaways
A quota can improve alignment between a company’s sales and marketing department.
- See more at:
https://www.ama.org/publications/eNewsletters/B2BMarketing/Pages/Why-B-to-B-Marketing-Should-Have-a-Quota.aspx#sthash.Vn54uTIh.dpuf
The role of marketing in closing a deal doesn’t just stop with generating leads.
Marketing needs a process in place to score leads.
Key Takeaways
A quota can improve alignment between a company’s sales and marketing department.
The role of marketing in closing a deal doesn’t just stop with generating leads.
Marketing needs a process in place to score leads.
Many
B-to-B marketing professionals would say that it’s not possible or
desirable to meet a quota, but a quota can improve alignment between a
company’s sales and marketing department. It can drive marketing to stay
involved throughout the sales cycle and can help measure marketing
effectiveness.
Sales and marketing departments often treat
each other with a certain amount of suspicion. Neither thinks that the
other understands what they do, or values it. In reality, both have a
role in meeting the company’s revenue goals. But to be most effective in
growing revenue, sales and marketing have to be aligned, and the first
step is to define common terms, goals and measurements.
Leads vs. Opportunities
As an easy example, a click-through or open
isn’t a lead. A lead is a qualified response that sales can follow up
on. But while that’s a fairly traditional definition, the accompanying
idea that marketing just pitches leads over the fence and moves on is
now rather outdated. Sales has to do the follow-up, but marketing also
has a role in nurturing an opportunity.
The role of marketing in closing a deal
doesn’t just stop with generating leads. Personally, I dislike the
concept of “handing off a lead” to sales. I like to think of it as
“introducing an opportunity” to sales. Marketing doesn’t lose the
relationship with that opportunity, but maintains a connection.
To develop that relationship, marketing needs
a process in place to score leads. By working with the inside sales
team, marketing can further qualify leads. Once a lead is qualified and
converted into an opportunity, marketing can continue to help in the
following ways:
• Pipeline acceleration programs to help sales with more individualized programs for opportunities that haven’t moved forward;
• More marketing touch points to help sales get a prospect moving; and
• More information for prospects who are ready to close, but for some reason haven’t.
Tracking Revenue Goals With Marketing Automation
Some marketing departments don’t focus on
revenue as a goal because they either don’t know how or think they can’t
measure it. Both marketing and sales need to set up a lead-tracking
system—all the way through the buying cycle—to know when a prospect
purchases, renews or cancels. This enables the company to track
marketing’s contribution to revenue. Companies that don’t have this type
of marketing system in place find it difficult to measure marketing’s
impact.
In fact, most companies that use marketing
automation use it as a basic e-mail distribution system. Marketing
should progressively score leads, measure conversion rates and measure
the speed of conversion as opportunities move through the sales funnel.
Armed with data like this, they can build a model that tells them what
they need to achieve during every step of the buyers’ journey on the way
to a sale.
Putting Marketing Programs Under a Quota
An investment in marketing that is higher in
the sales funnel, like awareness campaigns or social media marketing,
might seem difficult to tie to a revenue number, but it’s not. Not only
can you set measureable targets for creating awareness, but you can also
incorporate demand generation elements into awareness initiatives.
For example, while an ad might be for the
purpose of generating awareness, it can also have a call to action that
leads to a personalized landing page in the marketing automation system,
or a link to a web page where readers can download something. PR and
social media content can also drive buyers to a microsite for a free
trial or a webcast, or a number of other measurable actions.
A social media campaign can measure marketing
analytics such as follower growth, retweets or other actions that help
move buyers into the sales funnel. If you promote a webinar on social
media, set up a separate registration URL for each channel and see where
the sign-ups come in. Then follow those attendees and see how many
enter the pipeline, and how many eventually become buyers.
The result of these changes in thinking, in
coordination, and in how you use tools is marketing that shows its value
to the bottom line. Sales and marketing coordinate more and work better
together to realize real business growth. Documenting the results of
marketing work in filling the pipeline, moving prospects along the sales
cycle, and closing deals increases credibility for marketing, and being
able to prove it earns more respect for the real results that marketing
brings in and, ultimately, enables marketing to have confidence in
signing up for a quota.
Key Takeaways
A quota can improve alignment between a company’s sales and marketing department.
The role of marketing in closing a deal doesn’t just stop with generating leads.
Marketing needs a process in place to score leads.
Many
B-to-B marketing professionals would say that it’s not possible or
desirable to meet a quota, but a quota can improve alignment between a
company’s sales and marketing department. It can drive marketing to stay
involved throughout the sales cycle and can help measure marketing
effectiveness.
Sales and marketing departments often treat
each other with a certain amount of suspicion. Neither thinks that the
other understands what they do, or values it. In reality, both have a
role in meeting the company’s revenue goals. But to be most effective in
growing revenue, sales and marketing have to be aligned, and the first
step is to define common terms, goals and measurements.
Leads vs. Opportunities
As an easy example, a click-through or open
isn’t a lead. A lead is a qualified response that sales can follow up
on. But while that’s a fairly traditional definition, the accompanying
idea that marketing just pitches leads over the fence and moves on is
now rather outdated. Sales has to do the follow-up, but marketing also
has a role in nurturing an opportunity.
The role of marketing in closing a deal
doesn’t just stop with generating leads. Personally, I dislike the
concept of “handing off a lead” to sales. I like to think of it as
“introducing an opportunity” to sales. Marketing doesn’t lose the
relationship with that opportunity, but maintains a connection.
To develop that relationship, marketing needs
a process in place to score leads. By working with the inside sales
team, marketing can further qualify leads. Once a lead is qualified and
converted into an opportunity, marketing can continue to help in the
following ways:
• Pipeline acceleration programs to help sales with more individualized programs for opportunities that haven’t moved forward;
• More marketing touch points to help sales get a prospect moving; and
• More information for prospects who are ready to close, but for some reason haven’t.
Tracking Revenue Goals With Marketing Automation
Some marketing departments don’t focus on
revenue as a goal because they either don’t know how or think they can’t
measure it. Both marketing and sales need to set up a lead-tracking
system—all the way through the buying cycle—to know when a prospect
purchases, renews or cancels. This enables the company to track
marketing’s contribution to revenue. Companies that don’t have this type
of marketing system in place find it difficult to measure marketing’s
impact.
In fact, most companies that use marketing
automation use it as a basic e-mail distribution system. Marketing
should progressively score leads, measure conversion rates and measure
the speed of conversion as opportunities move through the sales funnel.
Armed with data like this, they can build a model that tells them what
they need to achieve during every step of the buyers’ journey on the way
to a sale.
Putting Marketing Programs Under a Quota
An investment in marketing that is higher in
the sales funnel, like awareness campaigns or social media marketing,
might seem difficult to tie to a revenue number, but it’s not. Not only
can you set measureable targets for creating awareness, but you can also
incorporate demand generation elements into awareness initiatives.
For example, while an ad might be for the
purpose of generating awareness, it can also have a call to action that
leads to a personalized landing page in the marketing automation system,
or a link to a web page where readers can download something. PR and
social media content can also drive buyers to a microsite for a free
trial or a webcast, or a number of other measurable actions.
A social media campaign can measure marketing
analytics such as follower growth, retweets or other actions that help
move buyers into the sales funnel. If you promote a webinar on social
media, set up a separate registration URL for each channel and see where
the sign-ups come in. Then follow those attendees and see how many
enter the pipeline, and how many eventually become buyers.
The result of these changes in thinking, in
coordination, and in how you use tools is marketing that shows its value
to the bottom line. Sales and marketing coordinate more and work better
together to realize real business growth. Documenting the results of
marketing work in filling the pipeline, moving prospects along the sales
cycle, and closing deals increases credibility for marketing, and being
able to prove it earns more respect for the real results that marketing
brings in and, ultimately, enables marketing to have confidence in
signing up for a quota.
Key Takeaways
A quota can improve alignment between a company’s sales and marketing department.
The role of marketing in closing a deal doesn’t just stop with generating leads.
Marketing needs a process in place to score leads.
Many
B-to-B marketing professionals would say that it’s not possible or
desirable to meet a quota, but a quota can improve alignment between a
company’s sales and marketing department. It can drive marketing to stay
involved throughout the sales cycle and can help measure marketing
effectiveness.
Sales and marketing departments often treat
each other with a certain amount of suspicion. Neither thinks that the
other understands what they do, or values it. In reality, both have a
role in meeting the company’s revenue goals. But to be most effective in
growing revenue, sales and marketing have to be aligned, and the first
step is to define common terms, goals and measurements.
Leads vs. Opportunities
As an easy example, a click-through or open
isn’t a lead. A lead is a qualified response that sales can follow up
on. But while that’s a fairly traditional definition, the accompanying
idea that marketing just pitches leads over the fence and moves on is
now rather outdated. Sales has to do the follow-up, but marketing also
has a role in nurturing an opportunity.
The role of marketing in closing a deal
doesn’t just stop with generating leads. Personally, I dislike the
concept of “handing off a lead” to sales. I like to think of it as
“introducing an opportunity” to sales. Marketing doesn’t lose the
relationship with that opportunity, but maintains a connection.
To develop that relationship, marketing needs
a process in place to score leads. By working with the inside sales
team, marketing can further qualify leads. Once a lead is qualified and
converted into an opportunity, marketing can continue to help in the
following ways:
• Pipeline acceleration programs to help sales with more individualized programs for opportunities that haven’t moved forward;
• More marketing touch points to help sales get a prospect moving; and
• More information for prospects who are ready to close, but for some reason haven’t.
Tracking Revenue Goals With Marketing Automation
Some marketing departments don’t focus on
revenue as a goal because they either don’t know how or think they can’t
measure it. Both marketing and sales need to set up a lead-tracking
system—all the way through the buying cycle—to know when a prospect
purchases, renews or cancels. This enables the company to track
marketing’s contribution to revenue. Companies that don’t have this type
of marketing system in place find it difficult to measure marketing’s
impact.
In fact, most companies that use marketing
automation use it as a basic e-mail distribution system. Marketing
should progressively score leads, measure conversion rates and measure
the speed of conversion as opportunities move through the sales funnel.
Armed with data like this, they can build a model that tells them what
they need to achieve during every step of the buyers’ journey on the way
to a sale.
Putting Marketing Programs Under a Quota
An investment in marketing that is higher in
the sales funnel, like awareness campaigns or social media marketing,
might seem difficult to tie to a revenue number, but it’s not. Not only
can you set measureable targets for creating awareness, but you can also
incorporate demand generation elements into awareness initiatives.
For example, while an ad might be for the
purpose of generating awareness, it can also have a call to action that
leads to a personalized landing page in the marketing automation system,
or a link to a web page where readers can download something. PR and
social media content can also drive buyers to a microsite for a free
trial or a webcast, or a number of other measurable actions.
A social media campaign can measure marketing
analytics such as follower growth, retweets or other actions that help
move buyers into the sales funnel. If you promote a webinar on social
media, set up a separate registration URL for each channel and see where
the sign-ups come in. Then follow those attendees and see how many
enter the pipeline, and how many eventually become buyers.
The result of these changes in thinking, in
coordination, and in how you use tools is marketing that shows its value
to the bottom line. Sales and marketing coordinate more and work better
together to realize real business growth. Documenting the results of
marketing work in filling the pipeline, moving prospects along the sales
cycle, and closing deals increases credibility for marketing, and being
able to prove it earns more respect for the real results that marketing
brings in and, ultimately, enables marketing to have confidence in
signing up for a quota.
Key Takeaways
A quota can improve alignment between a company’s sales and marketing department.
The role of marketing in closing a deal doesn’t just stop with generating leads.
Marketing needs a process in place to score leads.
Many
B-to-B marketing professionals would say that it’s not possible or
desirable to meet a quota, but a quota can improve alignment between a
company’s sales and marketing department. It can drive marketing to stay
involved throughout the sales cycle and can help measure marketing
effectiveness.
Sales and marketing departments often treat
each other with a certain amount of suspicion. Neither thinks that the
other understands what they do, or values it. In reality, both have a
role in meeting the company’s revenue goals. But to be most effective in
growing revenue, sales and marketing have to be aligned, and the first
step is to define common terms, goals and measurements.
Leads vs. Opportunities
As an easy example, a click-through or open
isn’t a lead. A lead is a qualified response that sales can follow up
on. But while that’s a fairly traditional definition, the accompanying
idea that marketing just pitches leads over the fence and moves on is
now rather outdated. Sales has to do the follow-up, but marketing also
has a role in nurturing an opportunity.
The role of marketing in closing a deal
doesn’t just stop with generating leads. Personally, I dislike the
concept of “handing off a lead” to sales. I like to think of it as
“introducing an opportunity” to sales. Marketing doesn’t lose the
relationship with that opportunity, but maintains a connection.
To develop that relationship, marketing needs
a process in place to score leads. By working with the inside sales
team, marketing can further qualify leads. Once a lead is qualified and
converted into an opportunity, marketing can continue to help in the
following ways:
• Pipeline acceleration programs to help sales with more individualized programs for opportunities that haven’t moved forward;
• More marketing touch points to help sales get a prospect moving; and
• More information for prospects who are ready to close, but for some reason haven’t.
Tracking Revenue Goals With Marketing Automation
Some marketing departments don’t focus on
revenue as a goal because they either don’t know how or think they can’t
measure it. Both marketing and sales need to set up a lead-tracking
system—all the way through the buying cycle—to know when a prospect
purchases, renews or cancels. This enables the company to track
marketing’s contribution to revenue. Companies that don’t have this type
of marketing system in place find it difficult to measure marketing’s
impact.
In fact, most companies that use marketing
automation use it as a basic e-mail distribution system. Marketing
should progressively score leads, measure conversion rates and measure
the speed of conversion as opportunities move through the sales funnel.
Armed with data like this, they can build a model that tells them what
they need to achieve during every step of the buyers’ journey on the way
to a sale.
Putting Marketing Programs Under a Quota
An investment in marketing that is higher in
the sales funnel, like awareness campaigns or social media marketing,
might seem difficult to tie to a revenue number, but it’s not. Not only
can you set measureable targets for creating awareness, but you can also
incorporate demand generation elements into awareness initiatives.
For example, while an ad might be for the
purpose of generating awareness, it can also have a call to action that
leads to a personalized landing page in the marketing automation system,
or a link to a web page where readers can download something. PR and
social media content can also drive buyers to a microsite for a free
trial or a webcast, or a number of other measurable actions.
A social media campaign can measure marketing
analytics such as follower growth, retweets or other actions that help
move buyers into the sales funnel. If you promote a webinar on social
media, set up a separate registration URL for each channel and see where
the sign-ups come in. Then follow those attendees and see how many
enter the pipeline, and how many eventually become buyers.
The result of these changes in thinking, in
coordination, and in how you use tools is marketing that shows its value
to the bottom line. Sales and marketing coordinate more and work better
together to realize real business growth. Documenting the results of
marketing work in filling the pipeline, moving prospects along the sales
cycle, and closing deals increases credibility for marketing, and being
able to prove it earns more respect for the real results that marketing
brings in and, ultimately, enables marketing to have confidence in
signing up for a quota.
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