In the age of digitization, the value creation processes of companies are experiencing fundamental changes. This also affects the go-to-market processes in particular for the marketing and sales functions. In this blog, we discuss these changes and their implications for successful operations.
For at least two decades now, the Internet has enabled customers to be increasingly better informed, and the next supplier somewhere in the world is just a click away. A company’s web presence, which is usually designed by marketing, is becoming an increasingly important component in the sales process. The customer’s decision-making process is essentially determined by digital information (content) provided directly by the company itself, but also about the company from third parties.
Where marketing and sales converge
With all of the content available, customers have already completed a large part of what is commonly called the “customer journey” before they come into contact with the provider for the first time. Potential customers now expect accurate, fast, and consistent information across all channels and departmental boundaries between marketing and sales. Go-to-market functions, especially between marketing and sales, are increasingly converging.
In this dynamic environment, unifying all data from marketing and sales has now become indispensable for long-term business performance. On this data basis, it is possible to recognize patterns, to assign the individual behaviour of customers to customer groups and market segments, and thus to plan, control, and implement processes successfully. In short, offer them exactly what they’re looking for.
The description of the sales funnel is often used: individual stages of the sales process enable the measurement of key figures from the first contact to the conclusion with a signed contract or product purchased.
- The evolution of marketing data
- Finding and leveraging the right data tools
- Collaboration and integration are key
