What is SMARKETING? I’m sure you think that it’s a made up word. In fact Smarketing is the process of integrating the sales and marketing processes of a business. Integrating sales and marketing processes, functions and people, is that really possible, I hear you ask, particularly as 87% of the terms that sales and marketing use to describe one another are negative? Sales think that marketing sit in their ivory tower with their crayons and draw pretty pictures, whereas marketing believe that sales are slippery fish, bullshitters and evasive. It needn’t be this way.
If you want to increase your annual revenue growth by up to 20%, as The Aberdeen Group found in a 2010 study, aligning your sales and marketing processes around the same goals and same customer personas is imperative. This means having VISIBILITY of each others goals and being REWARDED based on each others performance. Therefore, moving to a Smarketing driven organisation requires a cultural shift and requires doing things differently. How can this be done?
There are 5 key steps to integrating Smarketing:
- SPEAK THE SAME LANGUAGE – more often than not sales and marketing, although two sides of the same coin, are accountable for different measures. Smarketing means aligning sales and marketing around the same goal – REVENUE
- SET UP CLOSED LOOP REPORTING – Closed loop intelligence improves the quality of information both ways between sales and marketing
- IMPLEMENT A SERVICE LEVEL AGREEMENT (SLA) – An SLA defines what each team agrees to COMMIT to each other in terms of support
- MAINTAIN OPEN COMMUNICATION – weekly Smarketing meetings, monthly management meetings to share and communicate
- RELY ON DATA – Facts beat fiction every time. Create and share a common dashboard with the reports aligned around team goals
Is your business up for doing things differently? Or have you already started doing things differently and are already seeing results? If so, I would love to hear from you and I am sure others would too!