All That You Need To Know About Sales & Marketing

All That You Need To Know About Sales & Marketing

Sales and marketing are two entirely different teams in a company. But it doesn’t mean they may not match each other at some points. In fact, the biggest match between the two is that both of them work for the company to achieve a similar goal of increasing the company’s revenue.

In this piece of content, we are going to discuss different aspects of sales and marketing that will include:

  • Definition of Sales and Marketing
  • Similarities between sales and marketing
  • Differences between sales and marketing
  • Collaboration of sales and marketing
  • Advantages of collaborating the two.

So let’s get started-

Definition

Sales: Sales is a team in a company and an act which involves selling of products and services within a certain time period in exchange of money or some commodities.

Activities involved in sales generation are:

  • Product demonstration
  • Establishing Tie-ups.
  • Satisfying Customer needs.
  • Building Contacts.
  • Using E-commerce strategy.

Marketing

Marketing can be defined as an activity concerned with distribution and promotion of products or services, also including activities like market research and advertising. Some more activities involved in marketing are:

  • Market Research
  • Creation of product
  • Promotion of product
  • Advertisement of Product
  • Communicating the value of the Product
  • Selling of the product
  • After Sales Services
  • Customer Satisfaction

Similarities between Sales and Marketing 

Since both the departments are in the same company, they complement each other and they have to.

Directly or indirectly, both the teams work for the launch of same product or service.

Both the teams are supposed to deal with customers whether directly or indirectly.

They both aim at increasing the company’s revenue, growth and development.

Difference Between Sales And Marketing 

  • While sales is an act of delivering products from its owner to the potential customer in exchange for money or some other commodity, marketing is an activity concerned with distribution and promotion of products or services, also including activities like market research and advertising.
  • Sales is completely customer-oriented while marketing is product oriented.
  • While sales is a short-term process, marketing is process that continue for a long time.
  • Marketing’s main objective is to identify the needs of customers and to create a product that can satisfy a customer’s need whereas the objective of sales is to encourage the customer to buy the products or services offered to them.
  • The process of sales is one-to-one and is involved with direct activity while marketing process is one-to-many and is involved with indirect activity.
  • On one hand marketing is a media driven activity while at other hand sales is a people-driven activity.
  • Sales focuses on generating purchases or orders, meeting sale volume objectives while marketing focuses on lead generation.
  • The purpose of sales is to sale the product on basis of the brand image while the purpose of marketing is to create and maintain a brand image.

Collaborating Sales And Marketing

Although the two are very different but bringing them together can create something great. Aligning the two is very crucial to the company’s growth and decreasing the time required to close the sales. But make sure that both are aligned properly.

An improperly alignment of sales and marketing department can result in unqualified leads and frustrated leads or prospects. Therefore, before you align both the departments you must make a proper strategy.

Advantages Of Collaborating Sales And Marketing

Here are seven advantages of collaborating sales and marketing teams:

  1. Qualified Leads

When there’s a free flow of information from one department to other, things are more clear between the two. Because of this collaboration of both the teams, sales team can interact directly with the marketing team and can help them to improve and adjust their strategies on the basis of the information they provide.

Sales people are better aware of where the leads are coming from, what leads are bad, which leads are B2B sales ready and those needs to be nurtured. This way a company can earn better and qualified leads through the alignment.

  1. Increased Revenue

A research study by Wheelhouse Advisors claims that a tightly aligned sales and marketing operations achieved 24% faster three year revenue growth and 27% faster three year profit growth.

With sales and marketing alignment, you company could generate 208% more marketing revenue.

  1. Stay Ahead Of The Competition

If marketing and sales are in direct contact with each other, marketing keeps sales team informed of the competitor’s tactics and positioning, sales can exactly figure out how their product superior to their competitors when speaking with prospects.

  1. Clearer Understanding Of The Customer Behaviour

Salespeople are the one who stay in direct contact with each other, they are better aware of the customer’s behavior. They have on-the-ground understanding about buyer’s behaviour and marketing has its own understanding about the customer behavior within the industry. When both of their understanding combines with each other then there’s a shared and better understanding of buyer’s behaviour.

  1. Valid And Correct Products Are Promoted

When both the teams work together, they respect each other’s work and respond to shared knowledge. Sales teams sell what is asked. Marketing teams promote, advertise and distribute the product or services to the sales team.

With an improper communication, marketing might create promotions around a service that the sales department is no longer promoting, or a product that is currently out of stock which will later create a great headache for the sales team when they have to repeatedly explain the mix-up.

  1. Better And Well-Defined Strategy

Company with aligned sales and marketing tend to be more strategic and big picture oriented. In short, they get the long-term value. With a proper strategy, there’s no conflict between the customer’s requirement and the product provided to them.

  1. Happy Customers

When everything goes smoothly, there’s a better understanding of customer’s behaviour and when this is on the line, customer receives what he/she needs. When they get the thing they need they are satisfied and hence are happy customers.