Answer to Question #238953 in Management for Thandi

Question

Identify the various objectives of marketing departments and provide an example

for each.

Answer 1

 Reduce the number of sales that are lost.

Though sales can have a significant influence on this goal, marketing can also have a substantial impact. The tone for prospects who come to sales is set by marketing. It will be virtually hard for a salesperson to reverse course and still clinch the deal if marketing does not qualify correctly or create the necessary expectations.

Associated KPIs include:

• Lowering the percentage of customers who abandon their shopping carts; and

 • Launching more sales enablement materials and training.

Profitability will rise.

Beyond reducing needless spending, marketing may play a significant role in boosting a company's profitability.

Following the identification of the most profitable products or services, marketing may devote more resources to advertising those things, successfully driving more leads to the profit center.

KPIs that are connected include:

There are a lot of fresh opportunities.

Rate of recurring revenue (often monthly).