marketing
concepts
For any company selling a
product the concepts of marketing and sales are very important as they can mean
the difference between success and failure. While they are often used
interchangeably or grouped together they are two different concepts and it is important
to understand those differences. This article will help you understand both
concepts clearly when it comes to Marketing vs. Sales.
Sales
Sales refers to the short term
need to close a sale, get an agreement signed, or ultimately do what needs to be
done to sell whatever it is you are selling. Sales techniques and strategies
are really based on what it takes to 'close the deal', which is crucial to any
business. If you get customers in the door but cannot get them to buy a
product, there is a problem with your sales strategy. Sales strategies are
focused on the individual buyer and what needs to be done for them to pull out
their wallet, or click on the buy button when it comes to online selling.
Companies typically set sales volume targets for a period (weeks, months, and
quarters) and have strategies in place where the individuals responsible for
actually selling can make those targets.
Marketing
Marketing
is a longer term concept than sales and relates to forward looking strategies
to understand customer needs, influence customer perceptions, and identify how
a company can capitalize on that. The end result of the marketing process, and
what it directly supports, is making sales easier. Marketing techniques and
strategies are really based on what it takes to identify the right product mix,
the prices for those products, and what needs to be communicated to target
customers (via advertisement) in order to ensure successful sales. One of the
key aspects of marketing strategies is building a brand identity for what a
company is selling and this varies from company to company. McDonalds obviously
brands their food and advertising far differently than a luxury steakhouse
would do. While sales is really the 'push' to buy the product once the customer
is there, marketing is the 'pull' that gets the customer to you in the first
place. When marketing is done effectively it can also make sales a far easier
job for a company, as the customer can already be convinced and ready to buy by
the time they actually enter your store (or website). Sales can still succeed
without very effective marketing but it certainly makes the job more difficult.
Marketing vs. Sales
When
considering marketing vs. sales the important thing for any business owner is
to ensure that you are considering both aspects of your overall sales and
marketing cycle. With many businesses, marketing and sales are both managed by
the same department or even the same individuals due to the fact that they need
to be closely related. For example, sales strategies need to incorporate the
same messaging as the marketing messages in order to be effective and maximize
the chances of successfully making a sale. Focusing on both the 'pull' and the
'push' effectively will ensure that your business is positioned to succeed.
Business Development vs. Sales
Business development and sales
are two important aspects of the selling life cycle and while it can be easy to
focus on one over the other neither should be neglected. This article will
explain both aspects of the sales cycle and provide a clear distinction when it
comes to business development vs. sales.
Sales
Sales refers to the short term
need to close a sale, get an agreement signed, or ultimately do what needs to
be done to sell whatever it is you are selling. Sales techniques and strategies
are really based on what it takes to 'close the deal', which is crucial to any
business. If you get customers in the door but cannot get them to buy a
product, there is a problem with your sales strategy.
Sales strategies are focused on the individual buyer and what needs to be done for them to pull out their wallet, or click on the buy button when it comes to online selling. Companies typically set sales volume targets for a period (weeks, months, and quarters) and have strategies in place where the individuals responsible for actually selling can make those targets.
Sales strategies are focused on the individual buyer and what needs to be done for them to pull out their wallet, or click on the buy button when it comes to online selling. Companies typically set sales volume targets for a period (weeks, months, and quarters) and have strategies in place where the individuals responsible for actually selling can make those targets.
Business Development
Business development relates
to the process of identifying and executing agreements with potential new
customers. Taken further it can also refer to partnering with other companies
to deliver product to customers or securing preferential supplier arrangements.
The focus of business development is really on new business and opportunities, as opposed to managing relationships with customers you are already selling to. It's really about new opportunities to develop and explore in terms of both new customers and also new ways of partnering with others to deliver to new customers. Business development is that first point of contact and relationships, after which customers are handed off to other aspects of the marketing and selling team in terms of responsibility.
When the stereo-typical image of a marketing executive schmoozing with clients and wining and dining buyers this is often a business development executive working on new relationships. Business development often involves a great deal of social interaction and working with new clients to woo them over. This type of sales interaction in many companies is reserved for the 'big fish' that represent a significant impact on the business if they become a customer, as understandably Sony doesn't take every prospective TV buyer out for dinner and a football game. Companies often tailor their business development time and funds to the target opportunities that are available and appropriate to their marketplace.
The focus of business development is really on new business and opportunities, as opposed to managing relationships with customers you are already selling to. It's really about new opportunities to develop and explore in terms of both new customers and also new ways of partnering with others to deliver to new customers. Business development is that first point of contact and relationships, after which customers are handed off to other aspects of the marketing and selling team in terms of responsibility.
When the stereo-typical image of a marketing executive schmoozing with clients and wining and dining buyers this is often a business development executive working on new relationships. Business development often involves a great deal of social interaction and working with new clients to woo them over. This type of sales interaction in many companies is reserved for the 'big fish' that represent a significant impact on the business if they become a customer, as understandably Sony doesn't take every prospective TV buyer out for dinner and a football game. Companies often tailor their business development time and funds to the target opportunities that are available and appropriate to their marketplace.
Business Development vs.
Sales
Sales
and business development are both important aspects of the overall selling
process and each deserve attention in terms of planning. Business development
can be crucial when it comes to winning over big new target customers, and to
an extent 'selling' to them is part of the process. However, with existing
customer bases it is still important to ensure that Sales management and
planning is also given attention in the business. Ignoring either aspect of the
selling process can result in missing opportunities or not capitalizing fully
on those opportunities that do present themselves.