Information Technology
New Invoca B2C Survey Shows Revenue Undermined by Poor Sales and Marketing Alignment
The connection between marketing and sales alignment and revenue is clear — 86% of companies with strongly aligned sales and marketing teams expect revenue to increase significantly in 2024, and only 33% of those with poorly aligned teams report the same expectation.
Sales and marketing leaders know the impact of tight alignment, as nearly all (93%) of the survey respondents feel that low trust between marketing and sales significantly affects their company's ability to grow revenue. However, B2C marketing and sales teams are suffering from a trust deficit. Only 19% of marketing leaders say they have very high trust in their contact centre to effectively convert leads into sales, and just 22% of sales leaders say they have very high trust that marketing can deliver high-quality phone leads.
This naturally creates poor alignment between the teams that are ultimately responsible for driving revenue. Data finds that the top challenge to aligning sales and marketing teams is misaligned strategies, followed by poor data handling and inadequate communication. A lack of integrated sales and marketing technologies also made the top five. Without integrated technologies, it is difficult to share data, get a unified view of the customer, or align on KPIs and strategies.
The report's results show that poorly aligned revenue teams create broken buying journeys, resulting in poor buyer experiences. Only 28% of respondents said they are very confident that they understand the full buying journey. This is due in part to a lack of ownership, as 70% said the buying journey has no clear owner in their organisation.
When marketers have full access to contact centre data, understanding of the buying journey jumps to 40%, demonstrating the importance of aligning marketing and contact centre sales teams on the same data.
This study shows that when marketing and contact centre sales teams can connect their investments to revenue, they can prove their performance, make smarter optimization decisions, and improve revenue growth. While 8 in 10 marketing leaders say that it's very important to directly attribute revenue to marketing investments, 69% have inadequate attribution to tie conversions that happen on the phone to the marketing campaigns that drive the calls.
Only 7% of respondents said they can directly attribute revenue from phone sales to marketing programs, and nearly a quarter said a lack of access to contact centre data was the culprit.
The result is an inability to impact revenue. Nearly 40% of respondents said that they have little or no control over revenue outcomes, which has far-reaching implications as they are the ones who are ultimately responsible for driving revenue.
"Marketing and sales jointly own revenue, but at most B2C companies, these teams are totally disconnected," said Peter Isaacson , CMO at Invoca. "This disconnect is all the more damaging in high-touch industries still reliant on human interaction to convert leads, such as healthcare, automotive, or home services. Revenue execution platforms directly address these pain points to foster better collaboration between teams and deliver an improved buyer experience."
Invoca's revenue execution platform enables revenue teams to connect customer buying journey data across the marketing team that engages customers and the sales teams that close the deals. By using a comprehensive revenue execution platform, revenue teams can finally connect their marketing investments directly to revenue, improve digital engagement, and drive higher-quality leads. See why Invoca was named a Leader in The Forrester Wave™: Real-Time Revenue Execution Platforms, Q2 2024 report here.
Invoca commissioned TrendCandy , an independent market research firm, to survey 600 marketing, sales and contact centre leaders to gain new insights on how marketing and sales teams are approaching cross-functional collaboration to align on revenue growth.
Respondents are manager level or higher, serve B2C companies with 100+ employees, and report that 20% or more of their conversions occur on the phone. The margin error for this study is +/-4% at the 95% confidence level.
Invoca is the leading revenue execution platform to connect marketing and sales teams to enable them to track and optimise the buying journey and drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha , and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com .
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