Dan McDade, an expert in B2B demand generation and author of The Truth About Leads, understands the importance of marketing and sales alignment. In fact, according to McDade, the number one problem impacting revenue generation today is what many consider sales and marketing alignment.
McDade refers to this problem as a “lack of accountability.” Marketing teams aren’t as accountable for the quality of leads being sent to Sales, as they should be and sales often fails to provide marketing with necessary information. The result of this lack of accountability is loss of money, terms of marketing expense, as well as time lost by sales.
In many cases sales has been conditioned to expect poor leads from marketing. McDade suggests that in organizations where sales is not acting on every lead, an additional level of qualification needs to be provided on marketing qualified leads before they are presented to sales so that you have the sales force only acting on the most qualified leads. A strategy should also be in place for sales to be able to pass leads back to marketing. Overall, sales needs fewer leads, which are more sales qualified opportunities.
Four Keys to Success
According to McDade, there are four “M’s” that every marketer should keep in mind when it comes to lead generation:
The market is important to keep in mind, because companies tend to broadcast or sell too broadly. Refining your marketplace can lead to more qualified leads.
When it comes to media, McDade says single-media or “one and done” campaigns won’t do it. It’s important to create multi-media campaigns.
According to McDade, it’s important to take a look at the offer components. Always consider, “How do you make the offer relevant to the end user?“
Make sure your measuring each step of the process. What percentage of the target audience becoming lead? What percentage of leads are accepted by sales? What percentage of leads are sales qualified? What percentage of leads are closed. These are very important. According to McDade, you can increase revenue up to five times by carefully measuring the entire process.
Looking for a way to implement the four M’s in your business? Consider implementing marketing automation. Act-On Software’s marketing automation platform provides marketing and sales professionals the tools they need for better alignment, including lead scoring, CRM integration and reporting. Sign-up now for our free marketing automation demo to learn more!