Understanding the Difference Between Marketing and Sales
“Bottom line – to be successful you need both marketing and sales.”
Marketing and Sales Aren’t Synonyms
At face value, this concept might sound elementary. However, you might be surprised at the amount of first time entrepreneurs that don’t realize comparing marketing and sales is like apples to oranges.
So, to better illustrate the differences, I often use a fishing analogy to help out. To put it simply, marketing is creating bait to sink the hook whereas a sale is landing the catch. Let’s go a little deeper (no pun intended).
What is the Goal of Marketing?
The goal of marketing is to generate interest in the product and create leads and prospects.
Marketing activities include:
• Consumer research to identify the needs of the customers.
• Advertising the products to raise awareness and build the brand.
• Pricing strategy to maximize long-term revenue.
• Competitive awareness to understand who and what is the competition.
What is the Goal of Sales?
Sales activities are focused on converting prospects to actual paying customers.
Sales involve interacting directly with prospects, which are generated by marketing. It is then the salesperson’s job to convert which leads into revenue by persuading them to purchase the product.
The Bottom Line
To be successful you need both marketing and sales.
Selling is the result of marketing, and without marketing, selling is rarely successful. As many first-time entrepreneurs are undercapitalized, confusion between balancing these two factors can lead to a waste of precious start up dollars. It is important to understand that you need a balance of both marketing and sales when you budget for your business, and it is crucial that you don’t give bias to either side.