On the journey to become the best business on the market, there are two essential elements that we need to consider: marketing and sales. Both of these elements need to work in harmony as they are interconnected.
Marketing and sales might seem similar, but in reality, these two activities have distinct objectives. Let’s explore the differences between these two elements.
MARKETING
Marketing refers to all activities designed to promote products or services. This includes market research, advertising, and promotions. Individuals involved in marketing focus on specific objectives in each activity.
They aim to increase public awareness, spark curiosity and interest in products or services, and create space for more individuals to discuss your brand. For this reason, marketing professionals are diligent in the process to make brands more easily recognizable.
For example, crafting appealing promotions, offering discounts, maintaining good relationships with existing customers, and seeking new clients.
Some marketing activities include:
- Gathering and analyzing data about the market, consumers, competitors, and current trends to execute forward-looking marketing strategies.
- Ensuring that products or services meet customer needs and desires. The key is ensuring differentiation from competitors.
- Delivering promotional messages through media like television, radio, internet, and print media.
- Organizing, planning, and executing marketing plans that contribute to enhancing your brand’s identity.
SALES
After understanding marketing, you must now comprehend sales. Sales is an activity that fulfills the needs of the marketing unit. This means that once the marketing unit has provided all customer data and information, the sales unit must be prepared to witness an influx of sales volume.
The sales unit needs to be equipped with sales methods that facilitate customer purchases. Individuals in the sales unit need to have direct interactions with customers since they deal directly with them.
Some sales activities include:
- Analyzing customer needs and desires to genuinely understand your products or services customers require.
- The sales unit must cleverly seek sales opportunities. Identify the most strategic times for sales, such as during holidays, the beginning of the year, or the end of the year.
- Making phone calls to prospects, meeting potential customers face-to-face, or sending emails to prospects.
- Arranging small events, such as product demonstration, to explain product or service features to prospects.
- The sales unit needs to be adept at closing deals with customers. You must understand the value of your product or service and sell it at the best price to customers. Negotiation skills are essential.
- You also need to maintain good relationships with existing customers. After-sales service should be provided to foster customer loyalty.
In conclusion, marketing and sales activities are closely connected. Therefore, you must genuinely understand the needs and objectives of both of these activities.