Today many MSMEs, in fact, 90% are not having a clear idea on the difference between a sales and marketing. While the ultimate aim of the business is a sales, many MSMEs think that marketing will sell their products or services. I had seen companies spend on the marketing campaigns and expecting that sales figures will go high.
The basic rule is marketing is pull and sales is a push stratergy. Marketing is a wider concept and sales is a narrow concept and in fact Marketing takes out of money and sales bring in money for you. Marketing and sales have varied definitions on how to reach to the customer and build long lasting relationship. Marketing targets the construction of a brand identity so that it becomes easy associated with the need fullfilment. The marketing determines future needs and has a stratergy in place to meet those needs of the long term relationship.
Brand value is important for any business and any marketing activity will defenitely help. The purpose of any business is to make profit and without profit, one cannot invest again in marketing. Marketing targets the construction of a brand identity so that it becomes easy associated with the need fullfilment. The marketing determines future needs and has a stratergy in place to meet those needs of the long term relationship. Sales meets the products the company currently offers match customer demand.
Another key challenge I notice among the MSMEs is the market condition. Many start-ups think selling means providing a service or moving their product to their client place. However, they forget the key aspect that, a sale is not complete without receiving payment. I say MSMEs that without payment one cannot call it a sales which holds true even for large enterprises too.
Marketing has three objectives-identify customer needs, creating products to meet those needs, promotions to advertise those products, while sales aims at providing actual solution for the customer. For MSMEs, the biggest challenge is sales. However,many business owners prefer to sell withut payment and fail to understand that without payment one cannot say it a sales. A stratergy is not a stratergy, when you do not have a proper sales in the picture. Sales is the noble profession in the world.
To an extent, I will turn my index finger towards the digital marketing consultants. The digital marketing consultants misguide the MSMEs and start-ups that just spending on the marketing or digital campaign will immediately get them sales. The digital agencies should provide the clients with proper method of campaigns and avoid fake and false promises to their clients. I urge the MSMEs should first have a clear understanding on how marketing and sales and should be careful in spending on marketing as every amount maters.
(Expert of the speech given by Yathiraj Agarwal in a webinar given for the MSMEs and start-ups)
