Marketing is no longer just about brand awareness; it’s a powerful revenue-driving function that must directly contribute to sales. By aligning marketing efforts with sales objectives, businesses can ensure that their investments translate into actual revenue.
The marketing operation should take the lead on what is sold, the market sectors you operate in, the price points, and how your products or services reach your target market. Many managers think the marketing function is purely PR, graphic design, or an advertising campaign, but this couldn’t be further from the truth.
We see many examples of companies with great products and ideas that, despite having a great sales team, cannot achieve the revenue they expect because they have poor marketing leadership or direction. You can’t simply rely on supply and demand to drive your sales if you have a product or service that your prospective customers do not know exists. So, how do you bring this to market?
If you have great products but no marketing analysis data, you have no vision of the market concept, size, or potential. Without this information, you cannot build achievable business goals and targets. With a detailed market profile, you can create a strategy and implementation plan to match your first objectives and provide the sales operation with precise data to help them build sales channels and targets.
Once you have a draft strategy, you must establish your brand before going to market. Your brand is your logo, many colours, and the audience’s perception of your business. It is essential to your marketing activity and must constantly evolve to match your existing and potential customer segments.
Your company culture also contributes to your brand. Your team must fully understand your business vision and what is needed to succeed. Poor branding can kill your business quickly. Good branding reflects who you are and what you do, but more importantly, what is your total value proposition that will make customers want to use your products or services?
Once the branding and audience perception are established, you must develop your public relations (PR) and marketing communications strategies, from media relations to social media and advertising. You must also build the sales tools to help your team sell what is within your products or services.
A strong marketing operation will prepare the road ahead for successful sales strategy, planning, and implementation. Marketing data is critical, and in the long term, it will pay dividends because you will know the vital statistics of your target sectors, and your market profile will dictate your required sales activity and vision.
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