Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts

Friday, February 4, 2011

The Age-Old Debate Rages On: Marketing vs. Sales

Many businesses struggle with striking the right balance between their marketing and sales efforts. Hopefully, most of us are enlightened enough to know that without marketing finding prospects or leads to follow up with would be much more difficult and without a good sales strategy closing the transactions that bring in revenue would be darn near impossible.

The 'traditional' definition of marketing is 'everything that you do to reach and persuade prospects.' Sales are everything that you do to close the sale and get a signed agreement or contract. A business won't survive without both of these functions, however, an organization will thrive if the right balance is struck between them.

Think about marketing as setting the stage for sales to occur. If your prospects have never heard of your company or its products and a salesperson contacts them, the sales process is going to be that much harder and longer. Good marketing reaches the right prospects with the right message to create demand, preparing the prospect to buy. Marketing can include advertising, public relations, brand marketing, viral marketing, direct mail, social media, and online activites--just to name a few tactics.

Traditionl sales usually involves some sort of interpersonal interaction. E-commerce has added a different kind of dynamic where the interaction happens through an online transaction (note: it is usually marketing efforts that get prospects to the site to purchase.)

Research has shown that it takes eight contacts to move a prospect or potential client to the close of the sale. Marketing can move a prospect along in the process and 'warm' them up for a sales professional to close the deal. For most organizations, success in marketing and in sales depends on balance!

Thursday, February 3, 2011

Culture: The Game Changer

What happens inside your organization from a 'people' perspective--often called culture--has such a profound impact on overall business success, that it is wise to take some time to evaluate whether the way you walk and talk internally is in line with your external brand, marketing strategy, and sales activities.

For example...if you are going to build your brand around a 'Satisfaction Guaranteed' promise, your company culture must make it possible to deliver on that promise by empowering employees to produce a great product that is less likely to create customer dissatisfaction, to take care of any issues customers encounter along the way, and to celebrate a sense of pride about your company and its products or services. Otherwise, the promise becomes just another unfulfilled marketing gimmick that today's savvy consumer will never embrace.