Sales & Marketing what is the difference?
Businesses often confuse Sales & Marketing. Also, their understanding of advertising creates even more blurring of the picture.
Let’s spend a moment to consider this question? Without marketing, you would not have prospects or leads to follow up with, but yet without a proper sales techniques and strategy, your closing rate may depress you, (the number of sales you get per enquiry).
Simply put, Marketing is everything that you do to reach and persuade prospects. The Sales process is everything that you do to close the sale and get a signed agreement or contract. Both are vital to the success of business. You cannot do without either process. By strategically combining both efforts you will experience a consistent level of business growth. However, by the same token if the approach is unbalanced it can damage your growth.
Your marketing constitutes the measures you use to reach and persuade your prospects that you are the company for them. It’s the message that prepares the prospective customer for the sales. It consists of advertising, public relations, brand marketing, viral marketing, and direct mail.
The sales process consists of interpersonal interaction. It is often done by a one-on-one meeting, cold calls, and networking. It’s anything that engages you with the prospect or customer on a personal level rather than at a distance.
Your marketing efforts begin the process of the average eight contacts that studies show it takes to move a prospect or potential client to the close of the sale. If marketing is done effectively, you can begin to move that prospect from a cold to a warm lead. When the prospect hits the “warm” level, it’s much easier for the sales professional to close the sale.
Do you see the process?
It usually takes multiple contacts using both Sales and Marketing to move the prospect from one level to the next. That is why it is an import that you develop a process that combines both sales and marketing. This will enable you to reach prospects at all three levels; cold, warm, and hot. It’s all about balance.
Are you unsure of how to integrate your Marketing and Sales?
If you are not clear on this question, then start with this exercise. Divide your prospect lists and database or list into categories of cold, warm, and hot leads. Then sit down and identify a strategy on how to proceed with each group.
For example, you could try the following methods of contact:
• Cold Lead Strategy– Send out a direct mailing or offer them a special promotion
• Warm Lead Strategy – Try a follow-up call, send out a sales letter, or schedule an individual seminar or training session to get all of your warm leads together.
Once you’ve moved your prospect to the “warm” level, it’s time to proceed in closing the sale. This will be easier to do if you somehow engage the prospect. You can do this by conducting a one-on-one call, make a presentation, or present a proposal, estimate, or contract.
What if you are uncomfortable with the Sales or Marketing process?
One approach is to partner with someone that possesses the talents that you feel you lack. You can do this by creating a partnership, subcontract, or hire in that talent. Remember the key to success in Marketing and in Sales is balance!