A strategically crafted partnership between sales and marketing is essential for successful business growth. The digital marketing gurus at Zest Social Media Solutions break down these two crucial business components below.
Neither marketing nor sales creates profit on its own: both must be performed simultaneously to engage new customers and to nurture existing ones. While they utilize different lead generation tactics, they are both equally important components of a successful business strategy geared toward increasing revenue and growing your customer base. As such, businesses who understand the symbiotic relationship between marketing and sales will not only be able to optimize their efforts in each area, but will achieve greater results in overall business performance.
A strong marketing plan will entice potential customers, “cold leads,” into delving deeper and learning more about your product or service. Once a causal browser has transitioned into a “warm lead,” a strong sales team can work to cultivate them into prospects and eventually, new paying customers. Without a well-crafted marketing strategy, it is nearly impossible to create a large pool of potential customers. But, without the sales efforts to support your marketing strategy, it is incredibly difficult to take that pool and turn casual browsers into paying customers.
Marketing is the natural first step in the relationship-building process, and can take a variety of forms: advertising, public relations, social media, content marketing, brand marketing, and direct mail, to name a few. A company’s marketing efforts need to be both wide-reaching in order to reach the largest potential customer base, metaphorically widening the mouth of the funnel, and targeted so that the efforts are reaching the right people at the right time.
One of the best ways to develop a marketing strategy that is both wide-reaching and targeted is to continually engage in data collection and analysis. With good data, the success and failures of each initiative can be compared with a pre-determined set of campaign goals, known as key performance indicators (KPIs). Comparative analyses of competitors, and the market in general, against your own initiatives will also serve as a crucial evaluation tool in a well evaluated marketing campaign.
Sales is the big finish; when transactions are completed, deals are made, and contracts are signed. While marketing’s target is large, sales goals are narrow and defined; convert leads to paying customers. Sales staff work with individuals and companies who have shown interest, in a one-on-one, personalized, setting to build off of what a customer has already been told through marketing.
Sales teams employ tactics which emphasize the quality of the brand, while catering an offering to the specific need of a customer. A successful sales team describes the product or service in a way that the client can envision it’s use in their own life or work. Similar to marketing, a successful sales pitch takes practice and analysis to see which tactics were effective and which need reworking.
A Strategic Partnership
Many businesses have separate departments for marketing and sales, but a symbiotic relationship can only work when the two entities are coordinated with one another. This partnership is like the teamwork it takes to alley-oop on the basketball court: Marketing sets the ball up, and sales executes the shot. Sales may get the official credit for the point, but it is the partnership that makes the whole play possible.
Do your marketing and sales departments work together, or is there radio silence between the two? Encouraging your marketing and sales staff to coordinate when creating new campaigns will make your business that much more enticing to customers, and most importantly, that much more profitable.