All You Need To Know About Sales And Marketing
INTRODUCTION
Business owners go into business with the intention of making sales. Sales which in turn yield profit. Any business void of sales is set for loss. Sales in business is an important factor for business continuity. Sales is the act of exchanging a commodity for money. Marketing on the other hand is the act of promoting a business to increase the amount of product sold and to increase profit on the long run. Sales and marketing is a compliment of each other.
TABLE OF CONTENT
- What is sales?
- What is marketing?
- The relationship between sales and marketing
- Ways of utilizing sales and marketing
- Importance of sales and marketing in business
- Conclusion
WHAT IS SALES?
Sales is the act of exchanging a good or service for money. It is an act of selling. Selling of goods and services is simply termed sales. This is by far the most important factor for business survival. People go into business with the aim of making sales and increasing profit. Sales is the pillar of any business because without it a business can’t thrive. Less sales means less profit, more says means more profit. More profit leads to business growth expansion.
WHAT IS MARKETING?
This is a business development tool. Marketing goes hand in hand with selling. It is safe to say that marketing and selling are not mutually exclusive. Marketing is the act of promoting a good with the aim of increasing sales. It can be targeted at a specific group or just random. Marketing may be both direct and indirect. Marketing is basically the act of getting potential customers for your product. The major goal of marketing is to increase the number of goods sold and overall profit.
THE RELATIONSHIP BETWEEN SALES AND MARKETING
Selling and marketing cannot be separated. It is an inseparable pair. Marketing is majorly to increase the number of products sold. Marketing can be done in different forms. It can be direct or indirect. Direct marketing which involves promoting a product to a person or group of people in person. Also indirect marketing involves the promotion of a product by a third party or the use of a medium. However the main aim of marketing is to increase the number of product sold. Thus it is necessary for business owners to explore better marketing options. Also marketing can be used when the amount of product sold is low. With the right marketing strategies low selling of products can be boosted. In business however selling of products is not complete without marketing.
WAYS OF UTILIZING SALES AND MARKETING
Selling of products and marketing are a business pair. They work hand in hand. Selling of products and marketing is best utilized together for best result. However some of the ways in which sales and marketing can be utilized include.
Feedbacks
Feedbacks are an important part of marketing. It is of great benefits to get feedbacks from clients and customers. Feedbacks helps to identify areas of lapses that needs improvement. This in the long run makes marketing more effective and thereby increasing the amount of products sold. Increased sales means increased profit.
Targeted Sales and Marketing
Marketing can be direct or indirect. Direct marketing may involve promoting a good or service to an individual in person. In direct marketing you get to promote your product directly. In indirect marketing the promotion of a good or service is not done on a personal level. It may involve the promotion of a good or service by the means of a third party. However the aim of either of the types of marketing is to promote and increase the number of product sold and overall to increase profit.
Using appropriate Sales and marketing medium
For marketing strategies to be effective it is necessary that the appropriate marketing medium is used. Marketing strategies that are supposed to be achieved through the use of social media shouldn’t be done by another means. The same applies to all strategies. The right medium should be used for its matching strategy. Failure to do this may lead to poor sales. Poor sales means lower profit.
Technical know how
The sole aim of exchanging commodities and marketing in business is however to increase profit. For this to be achieved it is important that business owners employ the expertise of experienced and qualified individuals who have the technical know-how on how sales and marketing work. The use of inexperienced and less experienced individuals may make this business tool less effective. When you do not use this tool effectively sales may be low. Low sales can lead to low profit overall.
IMPORTANCE OF SALES AND MARKETING IN BUSINESS
The importance of sales and marketing in business cannot be overemphasized. However some of the importance of sales and marketing in business include the following.
Post Sale Retention and Growth
Marketing does not only make room for sale. It helps with post sale retention. Direct marketing is a tool that penetrates the mind of the consumers. It helps the seller know what the consumers want. This however not only give room for sales, it also give room for growth. It helps the seller improve on service delivery.
Advancement of Products
When sales is low it is a pointer to the fact that something is wrong. However sales and marketing is important because direct marketing explores the market. Direct marketing may be able to detect the reason why sales output is low. When you identify the problem associated with a product, looking for solution is easier. The better the service delivery the better the sales.
Fosters better seller-buyer relationship
Sales brought about by direct marketing especially fosters a better relationship between both parties. When you build a good relationship, it helps in building customer loyalty. When a customer is loyal to you, the tendency that they would come back a second or a next time is high. And vice versa when the relationship is bad. However a good customer and seller relationship helps in customer retention. This in the long run increase sales and overall profit.
Creates Avenues for increased Sales
Marketing and sales overall helps in increasing sales. This tools work hand in hand to cause an increase in sales and overall profit. Sales and marketing helps in the continuity of business. This is the so because marketing helps to increase sales. More sales means more profit and more profit means business growth and expansion.
Creates room for expansion
In line with all the importance mentioned above sales and marketing gives room for business expansion. However, when you use the right marketing strategies the number of goods sold increases. When your income generated is on the increase business growth sets in thus making room for business expansion. Also, business expansion leads to an increase in your business network.
CONCLUSION
Sales and marketing are not separable. They however complement each other. Marketing of which can be direct or indirect. However the case may be business owners should explore better marketing options. Good marketing strategies increases sales which is good for business. Therefore it is necessary for business owners to utilize both sales and marketing effectively for best results.
