Marketing vs Sales | 5 Differences Between Marketing & Sales | Marketing | Sales | Rajiv Talreja

[Music] are you one of those one percent entrepreneurs because 99 entrepreneurs i talk to don't know the difference between marketing and sales hi my name is rajiv tal raja and as a business coach i've trained thousands of entrepreneurs on both marketing and sales and one of the common confusions that i see is that entrepreneurs don't have clarity of what is marketing what is sales what to expect from marketing and what to expect from sales as a business owner if you don't know how to distinguish between marketing and sales then you may end up doing marketing activities expecting results for sales or vice versa where you may end up doing sales activities and expecting results for marketing so it's very important for you to distinguish between what is marketing what can you expect from marketing what is sales what can you expect from sales because that is what will allow you to build the right team the right system and the right strategy for both marketing as well as sales for your business now before i expand the five differences between marketing and selling i also want you to keep in mind and watch this video towards the end because i'm going to give you an opportunity to come into my four-hour training called the business breakthrough seminar where i don't just distinguish between marketing and selling but i break down for you the seven foundational activities that need to happen in your business for you to build a stable and successful business so stay till the end and get the details of my business breakthrough seminar now let's dive into the five differences between marketing and selling consider this as a business owner when you don't know how to distinguish between marketing and selling you end up confusing yourself and you run into chaos in your business which leads to lack of income generation because in your business there are two aspects one aspect is the product or service aspect which you may be an expert at which you may be amazing at you may be capable at but the other aspect is the marketing and sales aspect and if you're not good at the marketing and sales aspect even though you are an expert in the product aspect you will not be able to grow your income you will not be able to grow your business that's why understanding the difference between marketing and sales is important so here are the five points of difference between marketing and sales point number one the objective the ultimate goal of marketing is lead generation whereas the ultimate goal of sales is revenue generation so consider this the job of marketing is to generate leads to generate inquiries the job of sales is to close the deal with the leads and to generate revenue for the business so there are two different goals that both these activities have in the business marketing goal is lead generation sales goal is revenue generation that's the first difference the second point of difference between marketing and sales is this marketing happens before sales i want you to think about it marketing goes out there and generates the inquiry and only when marketing generates the lead generates the inquiry the sales have a prospect to work on to close the deal so marketing feeds sales most people call it sales and marketing technically that is wrong because it's marketing and then sales so the second difference is marketing brings the inquiry and acts as a feeder to sales sales works on the inquiry generated by marketing and closes the deal and generates the revenue so marketing comes first and then comes sales in business that's the second distinction to have when it comes to marketing and sales the third distinction is this the job of marketing is to create a sense of credibility about you your product your service your company your brand and then create curiosity so that a prospect inquires with you about that product or service so marketing's job or the process of marketing needs to take care of these two milestones one building credibility and establishing credibility second creating curiosity that makes a person inquire for the product or service so there's a totally different micro objective to marketing while the macro objective is lead generation the micro objective of sales is first to create clarity of how your product or your service is the right product or right service for that customer's needs and second to create clarity of how you are the best partner to work with so the job of sales is to create that clarity in a prospect and then close the deal and convert the sale so the micro objectives of marketing is credibility and curiosity so that a person inquires the micro objective of sales is creating clarity of why buy this product and why buy from me and then close the deal and convert the deal so that the customer buys so these are the third differences or the third set of differences between marketing and sales the fourth difference between marketing and sales is that marketing feeds sales but sales feeds operations what do i mean by this if marketing is not consistent then sales becomes inconsistent because sales has nobody to sell to so sales is depending on marketing marketing is feeding sales in the same way sales is feeding operations of your business which means what if you're a manufacturing business if you're not getting enough sales then your operations is redundant your production line is under utilized or unutilized if you're a services business and your sales is not consistent then your manpower is sitting idle they are not fully utilized if you are a retail or a trading business and sales is not consistent then your stocks and inventory is going wasted it's going unsold and unutilized so please understand marketing fees sales sales feeds operations that's the fourth distinction between marketing and sales the fifth difference between marketing and sales is the measurement metrics the measurement metrics how do you measure the performance and effectiveness of marketing is by looking at the reach it's creating the engagement it is creating and finally the inquiries it is generating so reach engagement and inquiry these are the three parameters you will use to measure the performance and effectiveness of marketing but the measurement metrics for sales is totally different the measurement metrics of sales is the number of requirements you are able to gather by meeting people and briefing them about your product service or your company track record are you able to create that confidence for them to give you the requirements the number of proposals you are able to send and finally the conversion ratio of those proposals the number of deals you are able to close so the measurement metrics in marketing is reach you're able to create engagement conversations comments interactions responses you're able to generate and then inquiries and leads that you're able to generate whereas measurement metrics of sales is requirements you're able to gather proposals you're able to send and deals you're able to negotiate and close on so very different measurement metrics of marketing as well as off sales so with that i've given you the five differences between marketing and sales the key is for you to understand these differences and then build capabilities for your marketing activity your marketing system and your marketing teams and your sales activity your sales system and your sales teams because if you don't understand these five differences and you don't apply these five differences in your business then you end up expecting your sales team to be capable of generating marketing leads and you expect your marketing teams to end up generating sales deals and revenue for your business which is going to create total chaos total confusion and will only make your marketing and sales mechanisms and systems incompetent and incapable so make sure you use the distinction of these five parameters and you build a clear sales system you build a clear marketing system and you build your business based on this two legs of marketing and sales any business needs to work on if you found this useful i'd like you to continue the learning journey with me and register for my 4 hour training called the business breakthrough seminar where i'm not just going to break down for you marketing and sales but i'm going to break down for you seven foundational activities which are relevant to any business of any size in any industry of any scale so make sure you register for you the four-hour business breakthrough seminar to learn what it takes to build a stable and successful business and how to build a business which can grow without you i look forward to seeing you there you

Channel: Rajiv Talreja

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Length: 9min 6sec (546 seconds)

Published: Wed Jun 16 2021