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SALES AND MARKETING
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:
“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:
“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.
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