In today’s business world, data is everywhere. In fact, a few weeks ago, our team stumbled across an article that stated that data may be the world’s most valuable resource. Finding a way to organize and understand it can make a tremendous difference for your marketing and sales teams, but both departments must work together to truly tap its value.
In order to create a data-driven culture within your organization, marketers and salespeople need a single source of accurate, actionable data. But, how can your teams unite around data to get from first point-of-contact to final sale?
3 Questions Every Marketing Team Should Answer About Their Data
Here are three questions that will ensure both teams are leveraging the power of data to be more effective in their specific roles and responsibilities:
- Are both teams working from an accurate, centralized data source?
Data needs to be accurate, structured, and actionable to be useful. It’s about quality, not volume. Remember the old adage: garbage in, garbage out.
It’s important that all of your data is clean and up-to-date. In addition to ensuring the accuracy of your data, it’s also important that sales and marketing agree on the processes and systems you’ll need to manage it—and that they monitor it for any changes.
- Are marketing and sales in alignment on how to prioritize leads?
Focusing on your most engaged prospects and warmest leads is the way to make the most of sales and marketing resources. But, to accomplish this, it’s important for marketing and sales to agree on the prioritization process.
Lead scoring is a methodology for ranking leads to determine their sales-readiness, but it’s only effective if sales and marketing come together to define the scorecard.
- How can we use data to generate more leads and close deals faster?
The most valuable reason to leverage data is that it helps you be more effective. Constantly asking, “What are we learning from the data?” is key to continually improving your marketing and sales strategies.
Today, everything we do in the marketing and sales process can be tracked and measured. Allowing data to be the diplomat has given sales teams a new way to objectively identify which tactics are most effective for generating leads and closing deals.
You have access to data that can help you be more effective in your attempt to reach new customers. But, it’s important to ensure your marketing and sales teams are both working from the same set of information. Then they can effectively implement new marketing strategies, segment prospects, and nurture leads toward the finish line.