Here are a few questions you may be asking yourself about Smarketing:
Ok so here are the answers to your Smarketing questions.
Yes, Smarketing is a buzz word. Why do we use it? Well it is important to stand apart from your competitors.
You may have heard other people using it. People like:
Smarketing means aligning your sales team, sales process and sales best practices with your marketing strategy, marketing team, marketing methodology and marketing best practices to create on unified tool. Sales + Marketing = Smarketing!
Do you need Smarketing? Well here's an example. I am working with a client and their marketing is working well, but they are managing their own sales. The marketing team is generating qualified leads for the sales team, but when the marketing asks the sales team about the leads, they just say we got them. Thanks we are working them. Basically the sales team doesn't want to be bothered with marketing and discussion of how sales does what is does. The disconnect here is that marketing wants to know how many leads have been closed so that they can track and measure their results.
This is called Closed Loop Marketing. It means that marketing helped generate leads and then followed them through the sales cycle until they became a customer. In the marketing reporting tools, they are able to show leads, but with some software they are able to show when leads became clients also. This means they can see what marketing campaigns are working best, which tools are bringing in the best quality leads to help the company understand the cost of customer acquisition. If you also know the typical size of each client, you can then start to understand not only which campaign is most effective, but also which campaigns are bringing in the best most profitable customers. Then you can evaluate customer lifetime value. This is the data that Smarketing can help with since both sales and marketing are working for the same goal- business growth and profitability!
We wish everyone would stop using buzz words as well. We do think however Smarketing is more than a buzz word, it is the new paradigm shift in business development. It seems like a buzz word today, but tomorrow it will be commonplace in business strategy discussions.
If you would like to learn more about our thoughts on Smarketing, check out these articles:
Beyond this, we are not only writing about Smarketing, not only using Smarketing in our own business, but also have developed a 12 Week Smarketing (business development training) Course.