Pipeline generation is the biggest challenge faced by B2B brands. Over half face attrition and lost productivity, affecting pipeline health, according to 2023 State of Revenue Engagement Benchmark Study from Salesloft and Benchmark.
But, sad to say, marketing (and presumably its email subset) are underutilized in the pipeline process.
For instance, marketing is responsible for customer retention and renewal at only 10% of companies.
In contrast, 57% of firms involve account management in this process, and 64% bring in customer service.
This is unfortunate because marketing can be used as part of a continuous retention process, versus a one-time event, the study says.
Marketing plays a greater role in new pipeline generation, with 73% using it for this purpose, versus 82% that include sales development and 76% direct sales.
“Marketing should co-own the pipeline generation number to ensure an increased focus on pipeline,” the study states. “Pipeline generation should be an objective shared by Marketing, Sales Development and Direct Sales.”
Unfortunately, marketing is measured for its contribution to existing customer expansion at only 26% of companies.
Marketing is more widely used for pure revenue generation — 52% deploy it, although it still falls way below direct sales (83%) and sales development and sales development (63%).
The study argues marketing may be “an untapped resource to materially increase existing customer expansion revenue,” the study says. Marketing can assist in closing expansion revenue through “account-based motions to accelerate expansion pipeline velocity and conversions,” it adds.
Meanwhile, sales development pipeline development tools include:
In contrast, these are the tools used for direct sales development:
Salesloft and Benchmark surveyed 264 professionals in the first half of 2023.