ZoomInfo x Bain: 10 Insights From Our CMO Event
In collaboration withÂ Bain & Company, we recently hosted two panel discussions for enterprise CMOs in New York and Boston. ZoomInfo CEO and co-founder Henry Schuck and Chief Marketing Officer Bryan Law led the discussions, along with Bain partner Rishi Dave.
Here are 10 of the strongest insights from the discussions, including the importance of effective go-to-market strategies across sales and marketing teams, and how the current wave of economic uncertainty is affecting companiesâ€™ ability to make the most of their market opportunities.
1. A recession can be a great opportunity to grow
Itâ€™s easy to panic when the market is shaky â€” and many companies do. They implement aggressive cost-cutting strategies and initiate layoffs. Some attempt to go after every customer imaginable and completely lose focus, while others freeze up and decide to do nothing.
The companies that take a more focused and targeted go-to-market (GTM) approach come out on top. They leverage their data resources â€” merging first- and third-party data to see where their biggest opportunities lie â€” and create scalable GTM strategies that connect their sales, marketing and product teams.
Dave noted that Bain research of past recessions showed a stark difference in the fates of businesses that remained assertive in a slow economy, compared to those that took a more conservative approach.
â€œCompanies that reacted very negatively to the recession remained flat, while those companies that doubled down and took advantage of competitive moves to drive growth, actually had outsized growth coming out of a recession,â€ Dave said.
2. Sales and marketing organizations should be adequately aligned
While sales and marketing leaders increasingly agree on the need for tight partnership, most companies are not fully realizing this vision. This comes down to different goals and metrics, the fact that both departments normally arenâ€™t using the same data as their source of truth, different perspectives on target accounts, misaligned messaging, and a lack of operational integration between teams. In short, a lack ofÂ go-to-market playsÂ â€” coordinated, repeatable processes that can be run across companies to deliver key results for sales, marketing, or revenue operations teams.
Bain has found that companies that deploy GTM plays see a 15-20% growth in pipeline. ZoomInfoâ€™s platform also allows for sales and marketing organizations to work from the same data and develop automated workflows across departments, bridging marketing and sales teams and helping them better target their prospects.