Driving better performance and increased sales is always top of mind for building product manufacturers and distributors. Building the most effective, highest achieving set of marketing and sales capabilities is essential for companies to remain competitive. By leveraging investment in the most cost efficient marketing and sales channels, it is proven that companies deliver better results and create accelerated sales growth. According to a recent study summarized in Building Marketing and Sales Capabilities to Beat the Market by McKinsey and Company, companies with more advanced marketing and sales capabilities tended to boast 30% higher revenue growth than the average company within their sector.
So, what exactly does a fully optimized sales and marketing capability look like? It starts with an attitude that looks at marketing as an investment, instead of an expense. Spending on marketing and sales can lead to an even greater return on investment, but it generally takes longer to yield that return than a similar investment in hard assets. Simply put, a commitment to the long haul is critical for optimized marketing functionality to produce the desired outcomes.
Another key component is having the right tools, methodologies, processes and systems in place so that activities could be measured and managed accurately. It's virtually impossible to execute against a strategic marketing program without these core elements in place. In fact, there are so many variables when building an optimized marketing and sales capabilities engine, that deciding where to focus resources is a challenge. This article references as many as 40 clusters of marketing and sales capabilities, but says that top-performing companies generally focus on only six that are most relevant to achieving their corporate goals. As a company moves towards optimization, it is equally important to ensure the focus is on the segments that need the most help first. For example, are the first targets, the pool of high volume, underserved smaller accounts?
Creating world class marketing and sales capabilities isn't easy, and it doesn’t happen overnight. One of the greatest difficulties for companies is knowing where to begin, and being willing to take a close look at themselves to make an honest assessment for what they can and can’t do themselves.
Companies need to harness a host of interconnected functions, all working in concert. While it may be difficult for an organization to develop all of the data, analytics, segmentation, modeling, technology, creative assets, people and processes to make it all work together in a connected way, working with a sales and marketing expert vendor may be a better option.
MMC partners with top building products manufacturers and distributors to build out these competitive sales and marketing capabilities, helping its clients increase reach and accelerate growth, while reducing overall cost of sale. With MMC’s proprietary methodology, top companies leverage MMC's Next Action Platform to fast track results it would have taken years to realize if they tried to build the capability internally. Take the first step and contact MMC to create your customized plan for future success.
Delmulle, Bart. "Building Marketing and Sales Capabilities to Beat the Market." McKinsey & Company Insights & Publications.