Get ready. We're gearing up for our upcoming events.
What is a sprocket? You may be hearing this term "sprocket" and wondering, "what is that?" It's okay. You're not alone. I'm here to tell you so you're prepared for our events.
Here are the basics of a literal sprocket:
- Rotating parts with teeth that are used in conjunction with a chain and at least one other sprocket to transmit torque (measure of the turning force)
- Can be used to change speed, torque, or original direction of a motor
- All of the sprockets should be on parallel shafts with their corresponding teeth on the same plane in order for sprockets and the chain to work effectively
Smarketing is the process of aligning the sales and marketing teams around common goals within a business or organization, focusing on improving revenue. Separately, sales and marketing are like sprockets. When combined effectively, the marketing pipeline of visits and leads (teeth) are tied to sales quotas, or customers (chain). Just like a sprocket, there is no movement or clear direction without the two halves coming together.
Companies with strong marketing and sales alignment increase revenue by 20% annually.
Our Philly HubSpot User Group (HUG) is made up of sprockets, where the HUG is the chain linking users together. When we come together, we create this Smarketing momentum through shared information and resources.
If you're a Philly HUG member or HubSpot user, looking at the process of aligning sales + marketing as a sprocket will help you visualize how to be effective.
Here are five parts to gear up Smarketing:
1. Speak the same language
Sales + marketing = smarketing. Both are just halves of the same team, Team Revenue. Both teams must have interdependent organizational goals.
2. Implement a Service Level Agreement (SLA)
An SLA defines what each team commits to accomplishing in order to support the other in reaching the shared revenue goal(s). It goes both ways.
From marketing to sales, the number and quality of leads required to hit company revenue goals is important to calculate. Or, how many leads of a certain quality does a sales rep need to make quota? From sales to marketing, the speed and depth of lead follow-up that makes economic sense is important to calculate. Or, how many call/email attempts to engage should a sales rep make so as not to waste leads?
3. Set up closed-loop reporting
This part completes the feedback loop between marketing and sales. Specifically, closed-loop reporting allows you to increase close rates, sales ROI, and marketing ROI.
4. Rely on data...
... not emotions. Separating reality from perception requires a shared dashboard with the reports aligned with the teams' goals. With this, you can provide frequent, public, and transparent updates on how marketing and sales are performing.
5. Maintain open communication
There should be transparency in the sales and marketing goals from either end. Continuous communication and education around personas will encourage visibility into each other's goals.
Learn more with HubSpot's free inbound certification.
Let's be sprockets together.
Now, let's recap. What's a sprocket? Sprockets are the pieces that connect to create, move, and transform. Sprockets are the Smarketing process of aligning sales and marketing. Sprockets are members of the Philly HUG and individuals in the community.
Want to be a sprocket? Join us at our next sprocket-ful event!