Transforming sales is not enough
22nd April 2017 | Bev Burgess
If you’re serious about growth, transform marketing too.
A few years ago, I was part of the management team that rapidly grew a mature outsourcing business in just one year, while increasing profitability too. Our strategy was to shift from being a reactive business, waiting for RFPs to arrive, to a proactive one targeting the specific accounts that would deliver long-term, mutual value. Sales transformation was a key part of this strategy, but marketing transformation was equally important.
The gap between sales and marketing is an age-old challenge in the world of complex, high-consideration business solutions. In fast-growing markets where solutions sell themselves, it doesn’t matter much, but when markets slow and clients demand a more proactive, value-add approach from suppliers, a more joined-up style is required.
In these challenging situations, however, companies often focus only on sales transformation, letting marketing carry on as usual, or even cutting back in response to declining revenues and profits.
Instead, as we saw with my own recent experience, bringing sales and marketing together with an account-based marketing (ABM) strategy is a more effective approach.