How to use this new concept for better lead generation and increased profits
In business, new terms get bounced around all the time. One such word you may be hearing more frequently is smarketing, but exactly what is it? Are people referring to smart marketing? Marketing for schmucks? Actually, it’s a major part of doing business today.
Originally coined by Hubspot, an inbound marketing software platform company, smarketing (sales + marketing) is a relatively new expression used to describe the unity between your marketing and sales teams developed through increased communication between the two groups. Once you understand more about the concept, you will realize it’s something your company can’t do without.
Why is smarketing important?
Many companies have now embraced the idea that inbound marketing – programs to bring customers to you instead of you having to go out and chase them – is an essential component to a successful plan for increased revenue. Part of this plan must include an alignment of sales and marketing goals.
Historically, the sales and marketing functions have frequently butted heads. Salespeople may accuse marketing of being irrelevant – delivering too many leads that don’t pan out. Marketing points the finger at incompetent salespeople for not handling the leads properly.
This is a major issue played out in meetings and reports in just about every company. It is vital for both to remember that when it comes to revenue, everyone is on the same team. If you don’t solve the disconnection between sales and marketing, your company culture and ability to enhance profitability is at stake.
Studies have shown that companies with dynamic smarketing strategies increase their annual revenue growth by 20 percent. In addition, there is improved customer service and tangible business results.
How can you achieve better smarketing collaboration for your company?
- Both groups should develop and agree on goals together.
- There should be transparency into each other’s progress and methods.
- Develop a reward system based on the goals and successes of sales and marketing combined.
- Start by determining goals (i.e., $50,000 increase in revenue for the quarter), then work backward to figure out how many sales, new/existing customers and leads it will take to get there.
- Communicate in language everyone can understand, meaning just straight talk with no jargon or confusing acronyms.
- Use hard data instead of guesswork and personalities to make decisions.
- Develop a Service Level Agreement, spelling out what each team is responsible for accomplishing and how their actions help the overall goal, so everyone is aware and accountable.
- Hire a public relations firm to help you.
Smarketing revolves around two-way dialogue, exceptional content and demonstrating value, and these are areas at which great PR firms excel. At Axia Public Relations, we will work to increase your visibility and awareness so that attracting and converting leads becomes easier. Contact us or take a Hubspot video tour to learn more.
Lisa Goldsberry is a blogger for Axia Public Relations with more than 15 years of public relations experience. She specializes in business and technology PR. Lisa has worked for Axia since December 2013. Learn more about Lisa Goldsberry. Connect with Axia on Twitter @axiapr or tell us what you think in the comments below.
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