How CEOs Can Improve the Value of Sales and Marketing Efforts
CEOs have likely already conferred with their leadership teams about how they will deliver sales- and marketing-fueled growth for this year and beyond. Yet while no successful leader submerges him or herself in the nuts and bolts, you must have a dashboard, even an informal one, for guiding your team, asking the right questions and keeping your eye on the high-level feedback.
Here are 5 key ongoing conversations CEOs need to have with their sales and marketing leadership to achieve their teams’ visions of revenue growth:
1. Verify that you have strong processes in place for each of the 4 major parts of the marketing and sales model.
The outcomes your leaders deliver will only be as good as the processes within these critical parts of the funnel (and the ones that connect them). It’s not for you to define and build minutiae, but rather to be able to speak to your team’s proposed plan for systematically managing profitable conversations within each part of the funnel and transferring prospects efficiently from one to the other.
2. Keep things simple and focused on as few priorities as possible. CEOs should be on alert when they feel they are looking at a sales and marketing plan with too many moving parts: too many products, too many offers and too many messages. If strategy is clear, the executive leader’s contribution is to provide critical focus so that resources won’t be spread too thin in half-execution of an overly broad plan. Trust your instincts when gauging if a plan will deny you concentration of force and offer guidance on where to pare activity.
3. Forge a service level agreement (SLA) between both departments. Aligning the efforts of your sales and marketing leaders for maximum impact—thereby removing vague areas that will eventually devolve to unproductive finger-pointing—is one of the best uses of your leadership muscle.
The SLA should specify:
- The number of leads required, and when:
- What constitutes a sales-ready lead
- How leads are distributed to the field
- How sales reps disposition leads
- How marketing’s contribution is measured through a closed-loop system
4. Ensure that effective sales lead management is built into the process. When asked, your marketing chief should be able to succinctly tell you how he or she is going to qualify inbound inquiries and how they’re going to create an ongoing program to nurture these leads until they are ready to engage in the buying process. Quality sales lead management can boost sales performance by 100% or more. Ask, and if you don’t hear a brief and compelling answer, you’ve got a problem.
5. Require a consistent flow of relevant content. Just as your leadership should be expected to have a process for creating marketing campaigns and guiding prospects through the buying cycle, they should also be able to define and tell you how they are going to execute a process for delivering content that will create higher marketing and sales conversion rates. A systematic and disciplined stream of thought leadership, case studies, blog posts, white papers and more will all be critical to achieving your goals.
Starting these 5 critical conversations and shepherding their progress can have a profound impact on your revenue and profit this year. Executive attention—at the proper level of detail—is vital for progress, as is the ability to be nimble and pivot when market feedback dictates. In a business culture obsessed with disruption and “next big things,” it’s easy to forget the simple value of enforcing a solid sales and marketing plan—and backing it up with efficient processes.
Note: this article was originally posted at Chief Executive Magazine May 7, 2016.