When it comes to the subject of business growth, the terms sales and marketing are frequently thrown around and seem to exist within the same context. While both are drivers of customer acquisition and revenue generation, they refer to different aspects of generating revenue.
In this article, we would discuss the rudiments of sales and marketing, the purpose of each, how they drive revenue, and how to make your career choice.
Sales
What does sales entail?
Whenever you walk into a store to exchange your money for an item, a sale has taken place. In those stores, you probably come across people that help you and guide you toward a buying decision. Taking on the role of a matchmaker, they link you to the best possible product or service after listening to your wants and needs.
That is what sales entails. It is all about helping prospective clients or customers find a solution to their desires. Within startups and tech companies, Sales officers play crucial roles in driving revenue by selling the company's products/solutions to target customers.
Aim or Purpose of sales
It seems like an obvious no-brainer but below the surface, there are deep-rooted aims that translate into the ultimate goal of increasing the revenue margin. That major goal can be broken down into several aims;
Increase customer numbers
Expedite upsell and cross-sell rate
Improve customer retention
Drive conversion rates
Increasing outreach to qualified leads and cutting time wasted on unqualified leads.
Job responsibilities of a sales representative
The specific job responsibilities of a sales representative can vary based on the industry and company they are in. However, there are some typical responsibilities that are often associated with sales representatives, including:
Identifying and researching potential customers or leads
Customer Engagement and Relationship Building to gain a deep understanding of clients' pain points
Sales negotiations to address objections, resolve concerns, and reach mutually beneficial agreements
Order processing and documentation
Sales tracking and reporting
Skills and Qualifications Needed for a Career in Sales
Deep knowledge of human psychology
Persuasion techniques
Interpersonal skills (like empathy and active listening)
Note: Many employers could care less about a degree. They are more focused on the results you bring.
Fun Fact: Brian Tracy, a legendary CEO, who experienced the shackles of an impoverished childhood ascended to a life of comfort when he decided to take the leap into the world of sales as a high school dropout. In the initial phase of his career, he struggled hard but after learning the ropes from the top sales reps, he moved quickly through the ranks to become a high earner himself, all without formal education. It's not exactly about a degree.
How much can you earn as a Sales Representative?
There are no limits to what you can earn. It all depends on the company you work with and your willingness to develop yourself as a salesperson. Sales are just like any other profession, the more value you can give out in the form of more sales, the more you earn.
Sales positions are one of the highest-paid professions in the world but depending on your employer and company, the average salesperson in Nigeria earns about $300 per month.
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services. It is all about building awareness of a business.
Aim or Purpose of Marketing
Marketing serves one major purpose - to cut through the noise and reach a target audience, and nurture them through marketing campaigns to become aware of the brand.
Subsects of Marketing
Marketing is broadly categorized into B2C marketing and B2B marketing. B2C marketing focuses on selling to consumers. It's a more emotion-driven marketing approach.
B2B marketing focuses on selling to businesses and adapts its marketing approach to the highly logical rudiments of businesses. Irrespective of the type, both share common subsects;
Content Marketing
In today's world, people are increasingly skeptical of making purchases due to the high amount of brands that have failed to deliver on their promises.
Content marketing is an effective inbound marketing strategy that educates and engages customers by helping them find information about products, brands, or industries online. This builds the trust the target audience has in a business and lowers barriers to sales.
Email Marketing
Email marketing is a marketing strategy that involves sending targeted messages or promotional content to a group of individuals via email. It is a highly effective and popular marketing channel that allows businesses to communicate directly with their customers, prospects, or subscribers. Any time you open your email app, there's a section that is labeled "promotions", that's what email marketing looks like.
Product Marketing
Product marketing focuses specifically on the promotion and positioning of a company's products or services.
It involves understanding the target market, creating compelling messages, and developing strategies to drive awareness and sales of the product. The primary goal of product marketing is to effectively communicate the value and benefits of the product to the target audience.
Read this: Product Marketing vs Content Marketing
Job Responsibilities of a Marketer
Oversee the overall marketing strategy and execution.
They develop marketing plans, set objectives, manage budgets, coordinate campaigns, and analyze results.
Knowledge and Skills Required for Marketing
Market Research and Analysis
Branding and Positioning
Project Management
How much can you earn as a Marketer?
Although it depends on your skill level, marketers typically earn an average of $500 per month in Nigeria.
Differences Between Sales and Marketing
Marketing focuses on creating and executing strategies to build brand reputation, generate demand, and attract potential customers. It is an attempt to create a long-term relationship with an audience. The goal is to bring a steady stream of quality prospects through the door.
Sales on the other hand focus on immediacy. Sales reps interact with the prospects, negotiate and close the deal.
Finally, what is the right pick for you?
Marketing involves a lot of behind-the-scenes work. If you're someone that is predisposed to being away from the stage and pulling strings, then consider a career in Marketing. But if you love to be on the front lines, interacting with people, then a career in sales just might be for you.
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