- PRICING STRATEGY: PRICE SKIMMING!
- PRICING STRATEGY: GIVING YOUR PRODUCT/SERVICE FOR FREE
- SHOULD WE COMPARE OURSELVES?
- WHAT SHOULD WE MEASURE WHEN WE EVALUATE OUR MARKETING EFFORTS?
- WHAT IS THE VALUE OF A CUSTOMER?
- DOES CONTENT MARKETING WORK?
- WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
- WHAT IS GROWTH HACKING?
- HOW MANY « P » CAN BE FOUND IN THE MARKETING MIX?
- THE CUSTOMER VALUE CHAIN
- HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
- CONFERENCE ON FINANCING - MAY 2, 2017
- WHAT IS DRIP PRICING?
- WHICH AMOUNT SHOULD YOU CHOOSE FOR YOUR PRICES?
- DETERMINING YOUR HOURLY RATE BASED ON THE VALUE YOU THINK YOU HAVE
- IS LOWERING YOUR PRICES A GOOD IDEA?
- TO OFFER OR NOT TO OFFER FINANCING?
- HOW TO PROTECT YOURSELF AGAINST EXCHANGE RATE RISKS
- WHEN IS A GOOD TIME TO INCREASE YOUR PRICES?
- DEMAND BASED PRICING
- WHAT IS A LOSS LEADER?
- HOW TO ORGANIZE A DRAW THE RIGHT WAY?
- HOW TO HAVE REMOTE EMPLOYEES
- IS IT GOOD TO BE FIRST IN A MARKET?
- THE THREE TYPES OF CUSTOMERS
- EXPORTING TO MEXICO - QUERETARO REGION
- DEFINING BUSINESS SUCCESS
- ARE YOU USING REBATES? WATCH OUT FOR THESE
- IS THE CUSTOMER ALWAYS RIGHT?
- EXPORTS AND QUEBEC COMPANIES
- COWORKING SPACES
- YOUR PLACE OF BUSINESS AND INTERNET
- WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
- HOW TO USE FREEBIES
- WHAT IS THE MAGICAL FORMULA FOR HAVING SUCCESS IN BUSINESS?
- DO YOU HAVE EXPERIENCE IN MY FIELD?
- WHEN CAN WE STOP OUR MARKETING?
- WHAT IS A CALL TO ACTION?
- WE ARE ALL SALESPEOPLE; HERE'S HOW TO GET THERE
- HOW CAN MARKETING AND SALES COLLABORATE?
- HOW TO SELL MORE TO YOUR EXISTING CLIENTS
- WHAT IS CROSS-MARKETING?
- WHY SHOULD I SEGMENT?
- WHO IS RESPONSIBLE FOR MANAGING YOUR COMPANY'S IMAGE?
- HOW TO CHARGE FOR YOUR PRODUCTS / SERVICES?
- HOW TO DEFINE YOUR PRICING STRATEGY: PRICE POSITIONING
- HOW TO DEFINE YOUR PRICING STRATEGY: MARKET PRICING
- WHAT PRICE SHOULD YOU SELL AT? - COST-BASED PRICING
- WHAT IS A PRODUCT?
- HOW TO MARKET YOUR NEW BUSINESS?
- IS BUYING A FRANCHISE A GOOD WAY TO START A BUSINESS?
- HOW SOCIAL MEDIA HAS CHANGED WORD-OF-MOUTH
- HOW SOCIAL MEDIA HAS CHANGED PUBLIC RELATIONS
- WHAT IS BRANDING?
- WHY INCREASING SALES IS NOT THE SOLUTION
- HOW TO SELECT YOUR COMPANY NAME?
- WHY HAVING A WEBSITE IS ONLY THE BEGINNING?
- WHAT IS MARKETING?
- HOW TO MAXIMIZE THE VALUE OF YOUR SOLE PROPRIETORSHIP BUSINESS
- WHY SELLING IN MEXICO?
- LOW COST MARKETING INITIATIVES
- WHY IS PRODUCT DIFFERENCIATION IMPORTANT?
- hOW TO PRESENT OUR COMPANY
- WHAT IS THE DIFFERENCE BETWEEN MARKETING AND PUBLICITY?
- 50% OF YOUR ADVERTISING BUDGET DOES NOT PRODUCE AS MUCH AS THE REST
- RIGHT SELL AND OVER DELIVER
HOW CAN MARKETING AND SALES COLLABORATE?
This month’s topic is based on a recommendation from a Linkedin contact and addresses the question: how can marketing and sales collaborate in companies?
First of all, let's clarify the position of sales in the conventional marketing mix; sales is part of the promotional “P” of the 4-P’s model. But for many companies, sales and marketing are separated. This can result in collaboration problems - depending on the responsibilities that have been assigned to each respective service of these companies.
Generally speaking, for companies with separated marketing and sales, the following organization can be noted: the marketing department will have the task of creating quality leads which are in line with the company’s objectives and mission which sales then convert into customers. However, oftentimes, the two services are working on a different timescale: marketing typically works in the medium and long term while sales work in the short term and is accountable every month if not every week.
The relationship between the two services needs to be collaborative because:
- Sales have the finger on the market; if your competitors offer something similar at a better price, they’ll know it first;
- - Sales will be able to quickly gauge the level of acceptance of your product/service by customers and potential-clients;
- Sales are a vital source of information on any new product/service and on the unrealized needs of your current customers;
- - Sales are the bridge between clients and operations, and
- - If there is a gap between theory and practice, sales will be the first to know it.
Thus, sales must notify marketing of any pertinent information enabling marketing to quickly rectify, when necessary, either the target market and/or the message used and/or the product composition.
Conversely, sales should demonstrate flexibility and openness in analyzing customer feedback for several reasons:
- - It may be that the new product / service is aimed at a very different clientele than that currently served by sales;
- - It is also possible that the sales technique for this new target client is different from what has worked so far;
- - It is also possible that the customer perception is distorted (she/he knows the company for a certain kind of product, but not for another);
- - It is also possible that the sales cycle is different from what customers and vendors are used to.
In any case, a close and transparent relationship should be established as soon as possible and maintained between the two services while understanding the objectives and the realities of the other. How can we go about establishing such a relationship? There are many ways, but they revolve around the following points:
- - Involve sales in the development of new products;
- - Have a key person in the marketing department who will collect, classify and analyse all information from sales;
- - Develop an internal training program for sales that addresses all phases of the launch of a product/service;
- - Use test groups which would be composed of a selected company's customers, sales and marketing to gather information on new products, existing products, or the level of satisfaction from the sales/marketing process.
If you have other experiences to share on this topic, feel free to let me know. They will be included in the next article on the subjec
Have a great day!
Stéphane Elmaleh-Riel, B.Ed., MBA