Trillions lost due to sales and marketing chasm, claims study
Businesses are working harder to get sales and marketing teams to collaborate, but new research suggests many are still struggling to find a common language and measure the impact of working more closely together.
Tindale: Businesses were being judged on experience so alignment is crucial
The global survey by LinkedIn, which included Australia, found that Australian companies are prioritising a more collaborative approach between marketing and sales, with 68% of businesses saying they have improved internal relationships over the past year.
But while many businesses now believe a closer bond between sales and marketing is a path to growth, nearly half are failing to measure exactly what the impact is.
The LinkedIn report says that Sales & Marketing misalignment is a US$ 1 trillion problem in the USA alone.
Conversely, solving this problem is a US$ 1 trillion opportunity to overcome:
– 65% of missed business opportunities
– 46% of customer frustration
– 45% duplicated processes
– 40% lost staff morale
Peter Strohkorb
@pstrohkorb
LinkedIn report is nothing new. This is how every business should run their front end operations. Marketing and Sales have to work on a collaborative model. Most companies do not understand the relationship between the two and have consistently implemented their strategies around Marketing and Sales, disjointedly.
Another aspect that most businesses forget to work on is “The Customer”. They are so engrossed in promoting the “ME and MY PRODUCTS/ SERVICES” that they completely skip the needs of their customer – who essentially should be their prime focus.
What selling organisations need to understand is that the “Customer” has become “Tech Savvy” and is no more intimidated by “Push Selling”. And organisations in different commercial regions/ countries buy, based on their commercial norms and not on the commercial norms of the selling organisation’s region/country.
I completely agree, @Sunil K Jha. I see one of the main issues fueling this dilemma is the conflict between customer experience and making budget. Too often are companies focused on short term revenue goals and neglecting the customer experience, because it’s simply not as tangible as a dollar. Therefore, I believe upper management need to be brave and stand up for the long-term effects of a satisfied customer to realise revenue will follow in due course.