Legacy issues and disagreements between sales and marketing often stem from ingrained cultural biases, misaligned incentives, and historical organizational structures. To overcome these challenges, organizations must focus on data-driven solutions and process design.
The core strategy for resolving legacy issues involves adopting a systematic approach to process design. This means creating clear communication channels and feedback loops between marketing and sales. The guide suggests that marketing should take the initiative to generate opportunities for the sales team systematically. Sales, in turn, needs to execute on these opportunities and provide feedback on the outcomes.
The guide emphasizes the importance of common metrics and reporting practices to eliminate subjective arguments and finger-pointing. By establishing a reporting and feedback loop, organizations can ensure that both sales and marketing have access to factual data about the impact of their initiatives. This process design facilitates accountability and helps build a collaborative environment.
An essential aspect of this process is the classification of revenue into two categories: touched and actioned revenue. Touched revenue recognizes the collaborative impact of both marketing and sales efforts, attributing value to marketing initiatives that contribute to eventual sales. Actioned revenue, on the other hand, represents revenue generated through a specific channel or action, such as attending a webinar.
To achieve this, organizations need to implement Revenue Operations (RevOps) and Sales Strategy & Operations in collaboration with Marketing. RevOps becomes a crucial player in aligning processes, metrics, and communication between sales and marketing. This includes setting up a shared source of truth, often a CRM system, where both teams can access accurate and real-time data.
The guide acknowledges that implementing these changes may face resistance due to organizational culture and entrenched practices. However, it asserts that the theoretical solutions presented are viable if organizations are willing to invest in the necessary changes. The guide also underscores the role of a revenue operations manager as a bridge between sales and marketing, facilitating the necessary changes to enhance collaboration and eliminate legacy issues.
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