The Most Important Sales and Marketing strategy to Skyrocket your business
- September 11, 2018
- Posted by: Subash Chandran
The term marketing relates to the process of popularizing your product so that it reaches its desired audience. Marketing process involves all those methods which enable the makers of the product to reach its target audience. It involves the right mix of promotion, advertising, and other activities will enable the product to become ‘famous’ in the minds of the target audience. Without marketing, a product may exist in the market but nobody might be aware of it.
Sales on other hand include the process by which the product finally reaches in the hand of consumers. It is the process in which the end product is finally used by the customers after paying the price of the product. The sale is a by-product of marketing. All the marketing process has sales as its ultimate goal. Without sales, all other functions including marketing are of no use.
Advantages of sales and marketing:
The most obvious advantage of marketing is that it enables the product to have its own identity and reach to the targeted audience in the market. Marketing not only makes a product famous but also the organization selling the product. A good marketing always leads to an increase in sales and often it is the primary driving force for the existence of any organization. Moreover, the recognition that the product and organization get is immense due to the marketing methodology. Every business needs to ‘spend money to make money’. Investing in marketing is no different. The most important advantage of marketing is therefore quite simply improving the businesses profits by boosting sales and related activities.
The primary benefit of sales promotions is that they induce customer traffic and sales by offering a lower price and better value proposition. Without sales, we cannot even think that any business would be able to survive in a competing market.
Companies also use sales promotions to achieve other non-revenue-generating goals. When a new business launches promotions are a way to attract customers away from competition. A newly launched business has the goal of the first establishing its name before any of its product can be sold. Once the product is well known in the targeted audience circle. Sales promotions also enable upselling and cross-selling opportunities can lead to viral word-of-mouth that expands your customer base further and encourage loyalty among customers.
Marketing vs Sales:
Marketing and sales differ in their methodology but generally have the same ultimate motive or goal which is to earn a profit for the organization. Selling is the end stage of any marketing process, including pricing, promotion, place, and product, generally referred to as the 4 Ps of marketing. A marketing department in an organization is responsible for increasing the knowledge, popularity, and value of any product for the customer and increasing the probability of conversion of potential buyers into customers. In order to achieve this goal marketing team may include the representatives of the sales team also in order to use them for promotional purposes such as advertising, publicity promotion and relationship management which may result in creating new prospective buyers, or even creating new products as per the demand in the market. Marketing is more oriented towards convincing people to buy the product after imparting them the knowledge about various aspects of the product.
Sales, on the other hand, is a byproduct and often the end stage of the process of marketing, wherein the product finally reaches in the hand of the consumer.
sales are the output of the process of marketing, but not just the output of marketing. The larger system includes many functional areas within an organization. From this perspective, “sales” and “marketing” have a symbiotic relationship with each other.
Many large corporations structure their marketing departments so they are directly related to all lines of business. They create multiple teams with a singular focus and the managers of these teams must coordinate efforts in order to drive profits and business success.
The sales department has a primary aim to improve the relationship between the customer and the makers of the product which is being sold. As Sales is at the forefront of any organization, this would always need to take place before any other business process may begin as every other function ultimately leads to sales and in turn, profit.
Sales and Marketing strategy:
The sales and marketing strategy relates to the process of how, when, where, in what way? A product should be placed in an existing market. The strategy should always reflect the ultimate goal of a business. Say for instance if a company wants to sell a pair of highly comfortable shoes which are branded as well as costly then it has to choose a market which is in tandem with these features of their product. The market will have to be a luxury-loving rich affluent society which does not mind to shell out some extra bucks for a good pair of shoes. Similarly, the other aspects as to design advertising promotion and availability of the product has to be kept in mind before the product can be effectively marketed and sold in the market. A sales strategy is a business plan to build the brand of its product in order to generate sales and increase revenues for the company. The strategy should be designed in such a manner that it compliments the overall marketing mix strategy and also is able to meet the demands of both the business and its valuable customers. The basic steps to make a good marketing strategy are :
- Situation Analysis
- Choosing the target audience
- Setting the marketing goals
- Develop marketing communications strategies and tactics
- Set your marketing budget
If all these factors are taken well into consideration then there are very fewer chances that the business won’t do well. Before any business has to succeed it has to set all the marketing and sales strategies incorrect manner so that it can achieve the best out of the options that any market has to offer. All the big business houses once started with a scratch and the difference between their winning and not winning lies only selecting these factors correctly.
Sales and marketing are crucial for growing your business. If you don’t manage to capture the customers’ attention and convince them to buy from you, you have no chance of making profits or reaching business success. That’s why it’s important to build and test out different strategies until you ensure your business can properly grow.
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