Someone asked me the other day if I was in sales or marketing. The age old argument is that one is a subset of the other or vice versa. In my view, there isn't enough of a difference between the two to worry about it, but I'll give it a shot.
Even though they are "first cousins", I've taken the approach that marketing is laying the foundation of the sale as well as the development of a product or service. In the old days, a marketing firm would do the research to see if a product was viable and to see if there were actually people willing to buy it. Focus groups are a good example of finding out what was going on in people's heads.
And that is what marketing really consists of. Trying to find out what the hot buttons are that will make a person not just want a product, but actually take action to get it, is the solution all people in business want. There is a lot of psychology in this process.
Let's assume that you have developed a better construction tool. We'll call it the "Wrench Hammer 2000", and you think it's going to revolutionize the way we build things. Immediately you start counting the money as you envision giant displays in big box stores, not to mention an appearance on "Shark Tank". Lori Grenier gives you exactly what you came into the "Tank" asking for and you both make loads of cash.
Reality sets in. Before you invest a dime into production (overseas factories will be waiting for your orders), you better find out first if anyone even wants this product, or if it already exists. So you call your buddy who is in the construction business and ask him what he thinks about the idea.
The key to all of this is to be as emotionally detached as possible. You aren't trying to sell them on the idea yet, but instead want to know if there are people out there willing to buy it, aka your "market". If there is a market for it, then and only then will you move forward to marketing it.
I've seen this mistake get made by insurance companies all the time. Someone will come out with a newfangled annuity, for example, with a lot of bells and whistles. The next thing I know I'm sitting in a large conference room with a bunch of other agents being told how this is the best thing since sliced bread and it will revolutionize the industry. The problem is that we can't wrap our own heads around it due to the confusing presentation and all of the moving parts. If we don't understand it, how are we, the sales people, supposed to explain it to our clients?
Back to our awesome Wrench Hammer 2000, though. We have some preliminary data (our construction friends) showing interest, so now we have to devise a marketing plan. This is where the sales people need to come into the equation. They have their fingers on the pulse of the customers. Leaving the sales team out of this can mean your product could be the next "New Coke"*.
Working together, the sales and marketing teams can find out who the market is. Will it be something for a niche market, like roofers only, or would the typical DIY'er be interested in the Wrench Hammer 2000? Coming up with a way to get in the customer's mind is the marketing teams goal. Getting the customer to take action and buy is the sales team's goal.
In Part 2 of this topic, I'll explain why you need to be marketing and selling your product and yourself. In the meantime, stay healthy!
*New Coke was marketing disaster in 1985.
Chris Castanes is a professional speaker who helps sales people succeed through workshops and humorous presentations. He's also the author of "You're Going To Be Great At This!", a humorous look at sales. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
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