In a perfect world, your sales and marketing teams are BFFs. But as we’ve all experienced, that’s all to rarely the case.
However, by providing increased transparency into what each team is doing, data becomes the bridge that closes the sales and marketing alignment gap.
Unfortunately, it’s often not so easy to get there.
Marketing typically lives at the top of the funnel, generating leads, qualifying them, and passing warm leads to the sales team.
When it comes to marketing’s role further down the funnel, they’re typically tasked with more hands-off work, such as producing sales collateral, organizing dinners and ordering socks. In many organizations, marketing is forbidden from committing the “ultimate sin” of marketing to accounts with open opportunities.
But there’s an elephant in the room when talking about this mandate: the one small omission that’s costing you business—Opportunity Contact Roles (e.g. Decision Maker, Economic Buyer, etc). By updating opportunity contact roles in your CRM, you document who is actually involved in an opportunity. This allows the company—especially the marketing team—to have more information about who exactly you are selling to that in turn can be used to better tailor your marketing and communications efforts to them.
Salespeople regularly don’t do a good job of updating opportunities to tag everyone who is actually involved in this opportunity. The lack of accurate Opportunity Contact Roles in Salesforce is an especially significant problem when you have hundreds of contacts belonging to a specific account or company.
This means your marketing team has two less-than-awesome choices:
Send out generic, untargeted emails to the entire account. This may include hundreds of people not involved in the opportunity who have no idea who the hell your company is and why you’re bothering them. In the worst-case scenario, this can result in alienating the account and burning the salesperson working this opportunity.
Not market to the account at all. In this scenario, marketing doesn’t put themselves at risk. They just sit back and let the salesperson do all the work. This is akin to your soldiers going to war and artillery not helping them with bombing the enemy because the soldiers forgot to tell artillery which direction they are going and which enemy they are engaging.
It’s a no-win situation. If marketing (the artillery in this analogy) takes initiative, they risk at bombing their own people. But if marketing stays quiet, the soldier’s odds of success are much lower now.
In addition to not benefitting from marketing support, opportunities where contact roles are not tagged also suffer from lack of visibility into their multiplayer nature.
Our data has shown that multithreading, or working with multiple contacts inside an organization over the course of an opportunity, significantly increases the likelihood of the deal closing.
There is almost a linear correlation between the close rate in the enterprise sales space and a number of well-developed threads on the opportunity. But there is no automated way to measure sales threads on an opportunity unless the salesperson manually tags all the contacts in the opportunity. And that just isn’t happening.
Across the over $5 billion of pipeline People.ai is currently tracking, less than 1% of opportunities have the right number of threads tagged. That’s a huge missed opportunity.
People.ai solves this problem. It is able to automatically detect all relationships between people and tags them as the appropriate Contact Roles on every opportunity.
With the Contact Roles accurately completed, your marketing team now knows exactly who is involved in every opportunity. Combining that knowledge with contacts’ titles allows marketing (the artillery) to do surgical strikes and deliver the right message precisely to the right people at the right time in the opportunity.
Sales management now has a precise measure of multithreading in every opportunity. They can then set an SLA with every sales team member in terms of how many and what kind of threads need to be established within each account. And the best part is lots of automation can be created here, like notifying a manager of a forecasted deal that doesn’t have real threads with the right people in the target account, meaning forecast quality will massively improve.
Find out how People.ai can solve your Contact Role challenges—request a demo.