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Pinellas Park, Florida, United States
I founded Core Business Solutions with the goal of helping business owners improve operating results, add value, and recapture the energy and passion that was present when the business was new. We also have the expertise to assist start-up companies create the foundational structure needed to provide the best opportunity for the business to grow and prosper in uncertain economic times. Our goal is to help the business entrepreneur/owner, through mentoring and coaching, develop or enhance managerial skills while providing that independent and objective advice and expertise usually provided by a board of directors.
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Tuesday, March 23, 2010

The Truth About Sales & Marketing

The Truth About Sales & Marketing

At a time when the world is facing its biggest economic test in years and retailers are slashing prices to shift stock, it is valuable to step back and have a look at the sales and marketing process being deployed in your company.
Over the years, sales and marketing has been portrayed as a specialist art that only the few, naturally gifted, can excel in. Proponents of this view can often be found with resume changes every two to three years and a trail of organizations that have been left with a feeling of disappointment that things “didn’t quite work”.

To connect the powerful commercial ideas of the business to the necessary levels of sales or customer retention, the sales and marketing function has been treated as a process that is 95%  bribery by price and some science and 5% natural ability.

A more effective approach is based upon six universal principles of sales and marketing effectiveness that impact performance. These principles are relevant to all types of sales organizations irrespective of size, sophistication or location. The exact weight that each principle carries in producing final results will vary between markets and, to some extent, between companies.

The critical foundation is forming a common view of those weights between customers, senior and front-line

These six principles are:
• Knowledge
Having a full understanding of the marketplace and how your products serve its needs. Do your homework.
This is usually the basis of your competitive advantage and can help you differentiate yourself  from others in your business segment.

• Strategy
Providing a focus and direction for the sales and marketing effort commonly understood through the
company. Communicate your strategy to everyone so all are 'on board' with the idea and pulling the same way.

• Structure
The division of work among individuals and the coordination of the work once it has been divided.
Even if you only have one sales person, tasks have differing priorities. Be sure those priorities re clear to all concerned.

• Marketing Operations
Relating customers’ needs to your products. Driving customers to being positively disposed towards your
products. In many businesses this is largely driven by consistency and service delivery. Is your customer service really 'world class'? If not, get an evaluation and fix it.

• Sales Operations
Making it easy for customers to buy your products. The more convenient you make it for your prospect to buy, the more comfortable that sale will be to not only the customer, but to all others in your organization. Can your customers or prospects buy right from your website with an easy and simple process? Do you accept all forms of payment?

• People
Recruiting, integrating and developing quality sales people to achieve maximum performance (and
removing any under performing people quickly). Be sure your sales people have the skills and the tools required to make the sale.

All of these principles need to be incorporated into the process and actively managed to take control of the sales and marketing function. One tip- DO NOT Micro-manage sales people. Set the proper expectations and get their buy-in. Then just hold them accountable to their commitments. This is called Macro-Management. It will work for you.

In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.

Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment

All The Best To Everyone,

Walt Morey
Executive Business Advisor Accredited by the Institute for Independent Business


nyca said...

Thank you for sharing this.

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