Thursday, July 17, 2008
Marketing and Sales: Why the confusion?
All too often we work with companies that interchange the words sales and marketing when talking about business development . We view them as very different yet both crucial to business development.
Here's how we define the difference between sales and marketing.
Sales is also anytime you interact with a client when you are negotiating a project where issues are discussed and mutually agreeable resolution results. Examples of this are:
- Meetings/phone conversations with decision-makers
- Meetings/phone conversations with informal decision-makers
- Proposal/Presentation development
- Internal team meetings to discuss account
- Interactions with strategic alliances about opportunities
- Meetings/phone conversations to develop strategic alliances and referral sources
- Dealing with clients regarding current projects
- Logo and Brand development
- Developing brochures and promotional materials
- Advertisements
- Trade Shows
- Educational Seminars
- Publishing newsletters and articles
- Sponsoring Events
- Public Relations: letting the media know what you are doing
- Attending Networking Events
- Researching business opportunities
Sales is what drives bottom line results; marketing is an expense that brings buyers to the table. The skills needed to be successful in sales are very different from success in marketing; both however are necessary in business development. In the end, the skill and art of moving a buyer from interest to a 'yes' defines the success of the company. The best ROI you can get is to invest in developing your company's sales skills. The next best is to ensure that your marketing efforts support your sales efforts and that you constantly measure the results you are getting from both your sales and marketing efforts.
Stay tune for our next blog on Prospecting Activities.
Read an excerpt from our book, Wake Up and SELL!
Labels: Marketing and Sales: Why the confusion?
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