It used to be enough that Marketing departments generated leads and handed them off to Sales. The responsibilities and activities of Marketing and Sales departments lived in uniquely different worlds. But the times have changed – CMOs must ensure that their departments collaborate more closely than ever with Sales throughout the “lead to money process” in order to remain competitive.
On this episode of Moneyball for Marketing, Giles House, CMO of CallidusCloud, shares his insight on how setting Service Level Agreements between Sales and Marketing departments and leveraging marketing technology to support those agreements is critical to the development of a high conversion sales funnel. Key elements include:
- Know your Pipeline Generation Split: In any given organization,Marketing is typically responsible for anywhere from 15-80% of leads, with Sales generating the balance of leads. Setting lead generation expectations from each department in advance is something CMOs can do to ensure the sales funnel remains full.
- Define your Lead criteria: More and more sales departments clamor for greater quality, rather than quantity of leads. CMOs and Sales VPs should agree in advance what constitutes a quality lead and use marketing technology to analyze what programs are yielding the best returns. Sales should be empowered to kick back leads for more nurturing if they do not pass muster.
- Sales Enablement through Marketing Technology, not Old-fashioned “Hand-off”: Have a sales enablement portal with useful content, playbooks for industry and product and other appropriate assets that enable Sales throughout the process. CMOs should track and analyze what assets are playing a role at each step of the process through marketing technology and continue to support Sales dynamically.
- Sales is Marketing’s Customer, and Vice-Versa: While Marketing has a responsibility to support Sales with the assets and programs that it needs to move leads through the sales funnel, Sales departments who provide feedback to Marketing about conversion on both Marketing and Sales generated leads help CMOs get bigger budgets by demonstrating ROI on marketing solutions.
Giles House is the Senior Vice President and Chief Marketing Officer of CallidusCloud. Giles is responsible for the company’s marketing activities and product strategy. CallidusCloud enables organizations to accelerate and maximize their lead to money process with their complete suite of solutions that span marketing and sales. They identify the right leads and insure proper territory and quota distribution; enable sales forces; automate quote proposal generation, and streamline sales compensation. Giles holds an electrical engineering degree from the University of Southampton.