Most companies are attempting to integrate marketing and sales activities, in large part through technology, yet fragmentation between the groups is still common. That makes it difficult for marketers to understand how the sales process works and which customer leads convert to sales and why. By aligning sales and marketing around the customer, your company can begin to eliminate data silos, uncover pitfalls in your current customer acquisition strategy, and change course in a way that leads to success.
At Conduit, we call this alignment SmarTech Convergence. We believe it’s achievable through a customer-centric methodology we’ve developed to break down traditional gaps in data, process, systems, and people across companies. Here’s what SMARTech Convergence does:
- It provides a map. It’s impossible to decide which way to go with your customer acquisition and retention efforts without knowing your intended destination. It’s important to identify the exact type of customer that you want to attract. Then, with the help of IT, the sales and marketing groups can begin to understand how each lead behaves in the sales funnel.
- It helps find the best route. With SmarTech Convergence, you can identify with specificity, and in real time, the areas where your customer acquisition is most successful and the areas where it’s least successful. You can then build out a customer acquisition strategy—a “route”—based on these insights. This approach ensures that you spend your marketing dollars more effectively and with a smaller chance of loss.
- It provides early warning signs. It’s easier to turn the Titanic five degrees 20 miles away from the iceberg than it is to turn the Titanic 90 degrees five seconds before it crashes into the iceberg. Implementing SmarTech Convergence creates a feedback system that serves as a smart navigation system that enables you to foresee future roadblocks (the “icebergs”) and receive instant alerts whenever a tactic isn’t delivering results. This way, you’re able to correct course long before disaster strikes.
- It helps calculate cost per acquisition (CPA) and returns. Being able to look outside of their data silo empowers the head of sales, the head of marketing, the CEO, and the CFO to understand what types of customers are within the target market and how many of them the company can potentially reach. Then, it’s possible to calculate the true cost of acquiring these customers
Eliminating Platform, Process and Data Obstacles
SmarTech Convergence empowers people to make intuitive decisions on how best to refine their customer acquisition strategies. Restarting your navigational approach with integrated sales, marketing and IT gives your company a chance to put the process, systems and data in place to reconfigure your path to securing satisfied customers in a crowded and competitive marketplace. By eliminating these roadblocks, the “people problem” aspect of the equation will become less of a concern, as individuals will have become better positioned to succeed with the data they require to chart the proper course.