A New Way of Doing Business: Everything You Need To Know About Marketing and Sales Orchestration
It’s a brave new business world out there and adapting to it more important than ever.
Both B2C and B2B buying cycles have undergone radical changes. This development is largely under the influence of seismic shifts in the market. We’re talking about automation, big data, and digitization.
So, like it or not, it’s high time to ditch outdated notions, practices, and tools.
You’re better off making moves grounded in consumer data and offering better customer experience than the next company. And that needs to happen across numerous channels and touchpoints.
The good news is we have a surefire method to guide our efforts.
Marketing and sales orchestration is the way forward. This best practice detects organizational mismatches. At the same time, it aims to foster synergy between two crucial business processes.
You have a chance to optimize your sales funnel and optimally allocate marketing dollars. Here is a practical guide on how to leverage orchestration to these ends.
A New Game in Town
The old B2B marketing approach had a good run, but it ran its course.
Years of fundamental disruption have altered the game. The first stage of marktech is officially over. The proliferation of communication channels (especially social media) introduced new opportunities and challenges.
We operate in a personalized, dynamic market shaped by big data and customer expectations. Brands have to find ways to ensure consistency of messages and fight off competition. Tools that aren’t precise and experience-driven are of little value.
These pressures have given rise to the need for multi-channel coordination.
Marketing departments are forced to act as one of the key engines for pumping out revenue. They plan and execute strategic activities in close cooperation with other teams.
Furthermore, marketers fortified the top of the funnel with various automation tools. These tools facilitate communication and interaction as driving forces behind lead generation.
But, in many companies, the sales teams still take over after that and attempt to close the deals. This conventional modus operandi yields poor results in 2019 and beyond.
Conductors of Business Greatness
Across industries, companies are re-calibrating their strategies.
Marketing and sales orchestration has come around to take center stage. The concept refers to the coordination of business activities, campaigns, and initiatives.
In other words, it entails the process of ongoing alignment and synchronization of sales and marketing. It takes place across different business departments, affecting the entire B2B buying lifecycle.
The first implication is marketing can no longer focus only on the top-of-funnel area.
First of all, it’s not the sole owner of activity playing out here. Sales engagement tools enabled sales departments to engage in communication with clients. They dispatch emails on a regular basis, and often in larger numbers than marketers.
This is one of the indications that sales and marketing are more intertwined than ever before. In light of this new reality, respective teams must work hand-in-hand toward shared goals.
Marketers are now expected to delve into the post-sale territory. Even business expansion and customer retention make the list of top priorities.
A Revamped Funnel
Revenue-generating efforts that hinge on attracting new business have serious limitations.
While this is still one lifeline of a B2B organization, one must also drive recurring revenue. It’s not enough to close a sale and then forget about a client.
The thing is sales processes aren’t as sequential in nature as they used to be. Today, we deal with a matrix of synchronized and simultaneous activities. Marketers should support the buying journey every step of the way.
Besides, we need to take into account that a larger market brings lager buying committees. Sales staff can hardly communicate with every stakeholder over the course of the buying cycle. Social selling, for example, is a highly complex and resource-intensive endeavor.
This is to say marketers are expected to step in. Much of their attention was reallocated to the bottom of the funnel.
After all, they’re versed in maintaining contacts with various personas simultaneously. So, why not let them accommodate customers who rely on digital stages late into the journey?
This is just one instance of non-linear buying, which calls for smart, multi-faceted tactics. You cannot afford to sit back and hope the traditional hand-off between marketing and sales does the trick.
You need to fine-tuning post-sale tactics and capture opulent financial spoils in the process.
Operating On Dual Tracks
So, it makes little sense to separate sales and marketing in terms of the targets they pursue.
They both need to tackle leads and accounts at the same time. Here, the trick is to deliver a human touch and make the most of digital channels. Personalization is the name of the game.
As for the ultimate goal, it remains unchanged: to land many lucrative deals. We would argue the best bet to do that is via an ideal customer profile (ICP). This concept powers account-based marketing (ABM).
It allows businesses to spur growth even when failing to gain initial traction with inbound marketing. To facilitate favorable outcomes, however, you want to embrace data-backed ABM.
Analyze client behavior and preferences and grasp the context in which you emit messages. Make sure the teams draw insights same data pools. Provide easy access to analytics and other advanced tools.
Establish tangible key performance indicators (KPIs) and track them regularly.
Finally, open the internal channels of communication and do away with information silos. Encourage collaboration between departments in your organization. Let employees serve as your brand ambassadors and advocates.
Following these steps, you should be able to tap into the steady stream of revenue.
Marketing and Sales Orchestration: The Best of Both Worlds
Marketing and sales orchestration is a true game-changer.
It’s a product of the integration of two major business areas. But, the process itself doesn’t just happen automatically.
You have to actively seek points of convergence, which the reconfigured business landscape of today creates. The foundations are already in place— automation and digitization.
Therefore, clinging on to the marketing status quo is a treacherous proposition. You have to keep up the pace with increasingly complex B2B buying journeys and offer stellar human experience.
Start by boosting operational and analytical capabilities. Get your messages across and create multi-channel engagement. Accomplish account growth at scale and pierce through the immense marketing noise.
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