A Sales and Marketing Service Level Agreement (SLA) is a written agreement between sales and marketing teams that outlines their roles, responsibilities, and expectations to ensure effective collaboration and success. The SLA typically includes specific performance metrics and may also include consequences if either team fails to meet the agreed-upon targets. The agreement serves to create a common understanding between the sales and marketing teams, improving collaboration, communication, and ultimately resulting in more qualified leads, higher conversion rates, and increased revenue for the organization.