“We live in a world where many people use the terms sales and marketing interchangeably, but there is a subtle difference between the two. Both functions intend to grow the revenue of a business, but the way they try to do this differs. Understanding the difference between sales and marketing can help a company integrate them better to achieve their revenue goals.”
This was the premise of the Lunch & Learn meeting conducted by mHUB mentor Paul Luna, which covered the unique skill sets that each group provides and how best to leverage them for your business. To set the stage for effective marketing and sales, the product needs to be completely defined including pricing. Paul calls this “the size of the prize” and subsequent activities tie into this construct.
Marketing and sales have different unique drivers as showcased in the graph. While marketing is a coordinated activity to set up cohort lists, create campaigns and persuade the masses, sales is a singular activity with a one-on-one relationship with the customer.
A recently aired show “Pepsi, where is my Jet?” is a cautionary tale about advertising and how far someone will go to prove themselves. It shows Pepsi and advertising in a unique light, while providing some interesting personalities on screen — a true lesson to companies to be careful with what they promise customers, even if they want to sell more of their product.
At Numorpho Cybernetic Systems (NUMO) we are enabling our own Customer Data Platform to have interactions with the big data of social media. As we theme out our products in the mobility segment, we will evolve it to have behavioral analysis (Hyperstate‘s Kappa platform), targeting and personalization so that it corresponds with up-stream (product development) and mid-stream (manufacturing) digital threads to provide for a holistic view for marketing and sales, and also support and service.
NI+IN UCHIL Founder, CEO & Technical