Paawan Kothari, Entrepreneur and Go-To-Market Leader, shares her insights on marketing in the fourth installment of a multi-part series: Demystifying Marketing.
Sales and Marketing are two business functions in an organization that lead to revenue. Marketing is widely viewed as a “cost,” while Sales is considered a revenue generator. However, this is a misnomer.
Marketing encompasses strategic and tactical activities that cover the entire customer lifecycle — from market research to the analysis of customer needs and behavior to customer retention.
Sales is narrowly focused on converting a prospect into a customer. Salespeople have to know precisely how the product will solve the customer’s pain points in a particular vertical. They have to speak in industry jargon and address the relevant issues based on the buyer’s role within the organization. It is the marketing team’s responsibility to ensure the sales team’s success. Marketing translates product features to business use cases, creates buyer’s personas and the relevant messaging. This is sales enablement. The better you understand your customer needs and their journey to becoming a client and beyond, the better your sales tactics will perform.
The most significant difference between Sales and Marketing is the way they measure their success. Salespeople are driven by short-term incentives and concentrate on closing deals to meet their sales quota. In comparison, Marketing’s success metrics are broader and forward-looking, from brand awareness and perception to nurturing interest in the product to customer satisfaction.
Startups tend to invest first in hiring salespeople even before developing a marketing plan, which is a mistake. Marketing is a lot more than SEO and Social Media posts. Marketing lays the strategic foundation and provides the essential subsistence that fuels the sales engine. Unfortunately, many startups fall short of their sales and marketing goals because they jump right into tactics before formulating the overall strategy behind it all.
Author Bio Paawan Kothari is an entrepreneur, a seasoned marketer, and a budding political activist with over 20 years of experience working for large and small companies. In 2010, Paawan quit her corporate job to start her venture, The Chai Cart®, to bring together her passion for entrepreneurship with her desire to make a difference. After 8 years of building the business, brand, and acquiring marquee customers, Paawan sold the business in 2018.
Originally published in Medium.
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