Sales and Marketing are two different but similar things. Sales are primarily activities relating to the quantity or the rate of products sold in a defined time frame over a defined area over a defined geographical location. The delivery of a product to a customer for a certain cost is also often considered a sales transaction. Marketing, on the other hand, relates to the development of a market and strategies to promote it. Both sales and marketing are integral aspects of any business, be it large or small.
Sales and marketing departments use various strategies to attract customers, increase awareness of their brand or service and to develop brand loyalty among customers. In a highly aligned sales and marketing team, there are a number of partners who work closely together to bring about a common goal. This group of salespeople, marketing professionals and business partners usually meet at least twice a week to share information, develop strategies and close deals. They may sometimes collaborate through teleconferences or Internet conferences.
The sales cycle is the sequence of events that lead up to the sale of a product or service. Each step in the sales process is referred to as a prospecting step. Each prospecting step is a direct action taken toward completing a sales cycle. In a highly aligned sales and marketing team, the sales process has a defined goal and an expected end result.
A key account, also known as a functional field sales person, is the sales person who holds the primary responsibility for generating new business. This person should possess excellent interpersonal skills, effective sales skills, excellent technical skills and marketing knowledge. The person should be highly qualified in his or her area of specialization. The person must have an excellent understanding of the target market, as well as the current marketing practices used by his or her potential customers. The sales person needs to be able to communicate effectively with both product and audience.
The key to success in sales and marketing occupations is learning how to leverage your unique selling and management skills to bring home the bacon. Sales and marketing professionals need to know the ins and outs of the business model, but they also need to understand their customer and the benefits of their product or service. Effective sales and marketing people realize that building customer loyalty is much more than just a good sales technique. It’s a strategy that creates a business that earns a profit month after month.
Sales and marketing departments are at the epicenter of any type of business. The two business functions need to collaborate closely in order to meet customer needs. The success of both sales and marketing departments depends on the ability of the individuals who hold the positions of managers. Successful sales and marketing people know how to manage their staffs effectively to maximize productivity while reducing expenses. The ultimate objective of both positions is to create long-term customer satisfaction.