On-the-Go stores will extend the brand and be located on TotalEnergies service station forecourts to cater to motorists and busy consumers.
SALES AND MARKETING
Most CMOs not very confident in their sales and marketing models
By our News Team | 2023
Sales and marketing leaders must seek better collaboration in order to drive revenue growth, report recommends.
More than 70% of marketers don’t feel very confident in their current sales and marketing model to sell effectively in the digitalised customer journey.
This is according to a new report by the US-based Chief Marketing Officer (CMO) Council, produced in partnership with professional services firm KPMG LLP, which indicates that most sales and marketing organisations haven’t been able to pivot fast enough to the new digital buyer and risk falling short of their revenue mandate.
Photo by Nick Youngson from Pix4free.org
Entitled ‘Sales & Marketing: Driving Revenue Through Collaboration’, the study examines the marketing and sales relationship and how it should evolve.
The researchers found that the ability to share customers insights with the sales team to inform the pipeline is one of the defining traits of the new sales-marketing relationship. The data is gathered by data science, as well as AI and machine learning.
Key findings include:
- 70% of marketers don’t feel very confident in their current sales and marketing model to sell effectively in the digitalised customer journey.
- 60% say marketing and sales don’t co-own customer strategy and data.
- 61% of marketers say fragmented technology across marketing, sales and service restrains better sales-marketing alignment.
“Sales and marketing will have to redefine their relationship to enable new customer-centric purchasing paths. This requires an entirely new way to collaborate across customer strategy and data, initiatives, technology, activities and metrics,” said Donovan Neale-May, Executive Director of the CMO Council.
The study suggests CMOs should adopt four sales-marketing alignment initiatives to better support the digitalised customer journey and self-reliant buyer:
- Collaborate to achieve business objectives (e.g., revenue, customer acquisition, market share).
- Collaborate on marketing and sales campaigns that drive lead generation.
- Define shared KPIs for marketing and sales.
- Align on customer personas.
“To sell effectively to the new self-reliant digital buyer and enable the purchasing paths customers seek, marketing and sales teams need to have the same goals, speak the same language, and hold each other accountable,” said Jason Galloway, Customer Advisory Lead and Marketing Consulting Practice Lead at KPMG LLP.
The report is based on a survey of over 300 marketing leaders across industries and geographies. You can download the report here.
The social media platform’s ad revenue is up 25.8% year-on-year and is forecast to total US$71-billion for 2024.
Alliance offers a simple, fast and convenient experience for consumers to buy groceries online, with orders being delivered within an hour.
Consumer must feel that buying the product will somehow elevate them so that they sit more squarely alongside the influencer they follow.
What are the key things that people consider before buying online? Researchers find that the computer mouse holds important clues.
Bon Marché has typically confined itself to the affluent suburbs of Zimbabwe’s capital. Now it has opened in Marondera in Mashonaland East,
As rugby fans liken the SA national team’s alternative kit to the Checkers Sixty60 e-commerce platform, the brand seizes the opportunity.
Sports apparel company renews an old partnership with Newcastle United as it further cements its presence in top soccer competitions.
Interactive Advertising Bureau study finds internet advertising has reached a new high of 34% of the overall SA advertising market.
Toyota marketing veteran takes over the reins as the automobile industry gets to grips with a range of new challenges.
By excluding innovative platforms and the content that circulates on them, B2B marketers could be missing out on opportunities.