Indian sales and marketing are strengthening their relationship to drive business success. A new research commissioned by LinkedIn, the world’s largest professional network on the internet, revealed that 89 per cent of employees surveyed strongly believe that the current relationship between sales and marketing is highly collaborative.
India has a higher level of collaboration (85 per cent) as compared to South East Asia (84 per cent), Australia (74 per cent), the United States (76 per cent), and the United Kingdom (73 per cent). Some of the reasons for this higher collaboration level in India include encouragement by company leadership (81 per cent) and both teams aligning on the same strategy and objectives (77 per cent).
Majority of employees surveyed believe that a common goal and high-level of collaboration between sales and marketing has a positive impact on businesses. Seventy percent (70 per cent) employees stated that collaboration positively impacted customer experience, 49 per cent said it impacted financial performance and 65 per cent believe it improved customer retention. Interestingly, 65 per cent believe that poor collaboration leads to missed business opportunities.
In India, 77 per cent small businesses see collaboration of sales and marketing as a top priority, compared to 70 per cent large businesses. Seventy-six percent (76 per cent) involve their sales teams early in the marketing process as against 68 per cent in large businesses. Further, 79 per cent of the small business marketers involve their sales teams in content creation and planning.
93 per cent of respondents believe that businesses measuring collaboration are more likely to collaborate well. Top three key performance indicators used by businesses, to measure impact of collaboration between the two departments include, revenue growth (75 per cent), pipeline growth (57 per cent) and net promoter score (57 per cent).
Businesses attributed the gains in improved sales and marketing collaboration to three key factors: frequent meetings to share ideas (57per cent), coordination in planning and outreach (52 per cent) and agreement on shared objectives and measurements (49 per cent).
“Traditionally seen as separate functions, sales and marketing within a company are now much better aligned; with India leading the world in promoting collaboration between the two. This survey has established that businesses that promote this dialogue are likely to see accelerated financial growth, with better performance in sales productivity and marketing RoI. Sales and marketing have to work more closely, as brands and customers interact more. It is thus crucial for businesses to measure how well their sales and marketing teams are collaborating, to further strengthen their relationship with buyers,” said Virginia Sharma, Director (Marketing Solutions) of LinkedIn India.