Once sales and marketing agree on a set of ideal buyer personas, take time to clarify -- and revise, if necessary -- the client's marketing and sales funnels. 2) CRM Implementation A 2014 study by Nucleus Research found that for every $1 spent on customer relationship management (CRM) software, a company saw a $8.76 increase in revenue. Conduct interviews with individuals at every level of the sales organization to clarify what information is important to each cohort, and then customize the CRM’s contacts, companies, and deals stages/objects to fit these needs. To do this your agency should build: Custom lead views for sales reps. Rep productivity reports for that show managers: Lead work rate - The percent of marketing leads touched by sales. Opportunity to customer rate - The percent of deals that close into customers. 3) Sales Enablement Imagine a world where a marketer creates a landing page on Monday. When creating and auditing sales templates, use a software that provides open and click-through rates data of individual emails. Agencies should set up a retainer-based service with clients to review email template performance every quarter. What sales services does your agency offer?
According to 2016 data from Econsultancy, only 22% of businesses are satisfied with their lead to customer conversion rates.
That’s bad news for a marketing agencies with retainer clients. How many times has your agency generated the agreed amount of high quality leads, but still lost clients because the client’s sales team didn’t close those leads?
When your clients don’t see a visible revenue return on marketing efforts, they might begin to view agency retainers as unnecessary spend.
Offering sales support services in addition to more traditional content strategy helps agencies deliver tangible ROI to their clients throughout the sales funnel. In fact, sales enablement services are often so effective, agencies are able to increase client retainers.
To improve client retention and ROI, there are three core sales support packages every agency can offer: sales and marketing alignment, CRM implementation, and sales enablement. Read on to learn how to start implementing these services at your agency.
3 Sales Support Services to Offer Clients
1) Sales & Marketing Alignment
Businesses with tightly aligned sales and marketing teams generate on average 208% more revenue from marketing than companies with disjointed teams. But if strong relationships between sales and marketing departments are so important, why are they so hard to achieve?
Here two service offerings that agencies can implement to better align their clients' marketing and sales departments:
Define a Common Language
The first step to aligning any sales and marketing organization is to develop a common understanding of the client's ideal customers: buyer personas. Marketing needs to target the same individuals that sales wants to prioritize.
When developing a client's buyer personas, conduct interviews with key stakeholders on both marketing and sales as well as the client's current customers. Make sure both teams agree on the target demographics, pain points, values and goals for every persona.
Once sales and marketing agree on a set of ideal buyer personas, take time to clarify -- and revise, if necessary -- the client's marketing and sales funnels. Establish a definition for marketing qualified leads (MQLs) -- leads that are ready to pass from marketing to sales -- and specify a clear handoff plan for these contacts.
Create an SLA Between Marketing and Sales
Once both teams are speaking the same language, it's time to create a sales and marketing service level agreement (SLA). An SLA is an agreement between marketing and sales where marketing commits to generating a specific number of leads (or MQLs), and sales agrees to specific follow-up procedures for those leads.
Crafting a meaningful SLA requires an understanding the historic lead-to-customer ratios, the current sales team’s capacity, and the percentage of total revenue for which marketing will be held responsible. More details on calculating a SLA agreement between marketing and sales can be found here.
To remain relevant, SLAs should be revised at least every 6 months. By regularly updating your client's SLA, you can account for factors like new product offerings, time of year, and new sales headcount. From a technology standpoint, agencies can also build custom SLA reports and dashboards in a client's CRM.