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Tuesday, September 12, 2006

Your Sales And Marketing Growth Exploding?

I've had yet another discussion about sales and marketing, or is it marketing and sales?

It's just semantics.

Or is it?

The two go together but often marketing is relegated to a series individual tactics that each salesman tries until they get a set they're comfortable with. So for example:

  1. One could be happy cold calling
  2. Another writing copy, either for letters or their own version of the company brochure
  3. Still another could use email marketing or fax marketing
  4.  And maybe one gets sales solely with referral business.

All these different tactics may be converting into sales for your sales people.

What if the different marketing tactics have different sales conversion rates though?

Different Marketing Tactics,
Different Conversion Rates

For the sake of argument and using the 4 sales people examples above lets list made-up conversion rates for this hypothetical market:

  1. Cold calling - 5%
  2. Writing copy - 5%
  3. email/fax marketing - 10%
  4. referrals - 10%

So if each salesperson was equally able to close sales the cold caller and copywriting sales staff are converting 50% less than their colleagues.

As we know sales people use a lot of different tactics and seldom concentrate on just one.

This example shows the result of not having a marketing strategy where you decide the strategic goals you want to achieve. Then work out the marketing tactics to achieve it.

Part of that strategy should include the measurement of the different tactics and testing different sales and marketing tactics.

No Marketing Strategy?

Looking at this example you could be losing 50% of sales and therefore losing your sales peoples productivity.

In addition the cold caller and copywriter sales people in the example are going to lose their morale as they measure themselves against the other successful sales staff.

Think about it...

Why let sales staff lose sales when they can use a different marketing tactic? 

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