Three Reasons To Track Marketing And Sales KPIs Together
Siloed data is often a huge problem for a business, particularly one in growth mode. The consequences of data that’s not shared across an entire company include terminology inconsistencies, lack of a consistent vision, strategies created by incomplete data, and the inability to pivot quickly when challenges arise.
Perhaps nowhere is the lack of “data democracy” more significant than among marketing and sales teams. If your marketing team is creating strategies based solely on the results of its efforts, they may be making decisions on an inaccurate set of data. From the sales side, not having a clear understanding of the leads and accounts marketing is targeting, and the methods used to target them, can mean sales strategies aren’t aligned with marketing. This means there may be a lot of effort given by one team in a specific area, while the other team is throwing their weight behind a different one. The result is often two teams working in parallel, not in unison.
Conversely, tracking your sales and marketing efforts in a single view can yield three key benefits:
Provides Both Teams An Understanding Of The Other Side: Too often teams are working hard on their stuff and only hear about what’s happening elsewhere when there’s either very good or very bad news to share. By aligning sales and marketing KPIs into a single view, each team gets insight into what matters most to the other. For example, how much emphasis does sales place on sending emails? Is it more important to get connects, no matter how many calls have to be made? Seeing these hierarchies helps marketing develop initiatives to help sales meet its goals, rather than creating things that either focus on the wrong KPIs or aren’t designed to deliver maximum ROI.
Creates Scoring Opportunities: Building simple scoring models for sales and marketing efforts allows teams to see if they're are coordinated around the right focal points for each group. By taking each marketing or sales activity, assigning a weighting to it and providing a score for those activities, teams can tell at a glance what leads or accounts are generating the most attention from marketing’s efforts. They can also see whether those same accounts receiving the same consideration level from sales. The answers often surprise teams who believed their sales and marketing folks were each dialed-in to what the other was doing.
Encourages Testing And Quick Iteration: By having marketing and sales metrics together, testing new marketing efforts is easier to execute and easier to measure success. Launch a new campaign directed at particular accounts and see what the results are in 14 days, for example. Did the campaign generate a lot of completed demo request forms? If so, was sales able to connect with calls and get those demos scheduled? If there were a lot of demo requests but there weren’t a lot scheduled as a result, what are the blockers? Has the sales team been focusing on other accounts or are they trying but not having much success booking demos. Perhaps a new tactic is needed. Also, if marketing creates a campaign with a goal of generating pageviews and it doesn’t succeed, it’s a great chance to figure out what happened and how to improve it moving forward.
With Rekener, companies are successfully combining marketing and sales KPIs into a single view. Rekener's cross-object reporting with Salesforce data, combined with integration of other data sources, allows companies to see the full funnel. This includes lead gen to campaign engagement to sales targeting to opportunity creation. Having sales and marketing KPIs on a single screen means the data is shared, not siloed. This creates a common language between sales and marketing, encourages collaboration and, most importantly, makes efforts on both sides more informed and efficient. Even better, these efforts can be tracked over time, allowing teams to see the shared results.
Great, successful organizations have marketing and sales teams that understand each other’s pain points and work to help solve them. In the past, it's been hard to get a full picture of the process. Rekener changes the game and gives everyone the data they need, at their fingertips in a format that’s easy to understand and helps drive success.
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John is a Senior BizOps Strategist at Rekener. Each day, John collaborates with Rekener customers to leverage the Rekener platform and drive deep business insights. A veteran of the technology startup space, John’s love for data storytelling helps sales, marketing, and ops teams see the big picture in a way that’s easily understood and actionable.
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