He said Huthwaite's global research study ‘Focus on the Buyer’ showed that more than half of companies whose sales and marketing functions do not speak with one voice are fighting for survival, while 75 per cent of those that do are breaking away.
“Sales and marketing should come together to see what the consumers want,” Golden said. “Consumers now choose when they want to interact with sales, and hence both marketing and sales need to go further in connecting with the consumers.”
Some 22 per cent of the 'breaking away' companies surveyed strongly agreed that sales and marketing collaboration has increased sales revenue, while only seven per cent of those fighting for survival agree that sales and marketing collaboration has increased sales revenue.
The study also revealed that a vast majority of companies that do not have metrics which show the benefit of sales and marketing alignment are fighting for survival.
The two-year study surveyed more than 3,000 buyers from global organisations. It noted that companies that consider themselves to be aligned, in term of sales and marketing, believe that the alignment gives them a competitive advantage.
“Consumers have normally gone through extensive research when they interact with the sales people because they can now get info from social media and friends,” Golden added. “They should connect with the buyers and help them in executing the buying process. They need to look into the buying cycle and know where they are.”
The majority of companies (80 per cent) that train their sales executives in industry specific knowledge are breaking away, and 82 per cent of them meet the buyers during the buying cycle.
Breakaway companies are also twice as likely to use social media as companies that are fighting for survival.
The study further noted that buyers use tools like Google (paid or organic search), business websites, published studies, social media and review sites during stages two to three of the buying cycle.
“Marketing needs to take a larger role in creating client demand by indirectly communicating with a buyer online, and sales needs to align with marketing from the beginning to deepen the relationship and build value for the buyer,” it added.
