It’s no secret that many companies struggle with a lack of synchronization between sales and marketing. Both can seem like they’re moving in opposite directions, each with their own motives and goals. This is a troubling trend, as companies without sales and marketing alignment inevitably hurt their bottom line. Consider the following statistics from HubSpot:
- Misalignment between sales and marketing technologies and processes costs B2B companies 10% of revenue or more per year.
- Companies with good sales and marketing practices in place generated 208% more revenue from marketing efforts.
- When sales and marketing teams work together, companies see 36% higher customer retention and 38% higher sales win rates.
So, what can businesses do about it? In my opinion, it starts with adopting the right CRM. At Mojo Media Labs, we use the HubSpot CRM software for our sales pipeline. It allows us to manage our pipeline with total visibility, log sales activity automatically and see everything about a lead in one place. Combined with our HubSpot Marketing software, it creates an alignment between our marketing and sales efforts that we wouldn’t quite get with other CRMs out there. It also sets us up to stay ahead of the curve.
What’s Next for CRMs?
What will CRMs look like in the future? Here's a video of what their capabilities might look like:
Seriously though, for the foreseeable future, I’m particularly excited about how CRMs can potentially foster sales enablement. As I’ve mentioned, gone are the days when sales and marketing each had their own separate visions for success. That mindset doesn’t work anymore. Everyone needs to be on the same page, pushing toward the same goals. Specifically, salespeople should be able to use CRM tools for lead generation, leveraging content in the buying cycle and communicating to marketing what they need to reach their critical number. If both sales and marketing are using the same tool, magic can happen.
A Real-Life CRM Win
We’ve actually experienced this firsthand at Mojo Media Labs. For example, we use our CRM to create better sales and marketing alignment by providing sales enablement services. It’s going extremely well. We’re now part of the monthly sales meetings for certain clients and even conduct CRM training and sales app training to get everyone aligned on how to use the CRM tools to encourage adoption. Because of this, one client even went from considering scaling back to seeing the true value our agency offers with the HubSpot CRM.
Overall, I believe more and more CRM providers will be thinking about sales and marketing alignment in their future updates. After all, they have the power to create an ideal environment for sales and marketing synchronization.