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It's not Marketing and Sales; it's Revenue

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Nov 24, 2020 10:07:15 AM
It's not Marketing and Sales; it's Revenue

A few days ago I wrote a blog about the importance of Marketing and Sales, today in the midst of this difficult situation the entire private sector is facing I would like to expand it, because we must be clear about one thing, there will be a before and after CoVid-19. in the following weeks when we manage to go back to "normal", you can be sure that things will no longer be the same, and only those who have understood this and have taken action will be able to move forward and recover in a "faster" way.

In my previous note I made this reflection on Marketing that said "Marketing should be the last area to be cut, in fact cutting it would mean the premature closure of the company...", then I talked about the distance between Marketing and Sales (in the case of hotels there would be a lack of Reservations in this equation, to make it even more complicated) ; that said I would like to take this analysis to the next level. The problem why these areas do not talk to each other I dare say is because the terms used for referring to them: Marketing and Sales, which are in my opinion titles for purely operational exchange actions, unrelated to each other and detracting from their true value. 

Marketing turns out to be the set of strategies that help generate qualified leads or demand, which are potential sales. Sales on the other hand are the actions that help turn a qualified lead or demand into a consumer.

If we look under the previous premise of Marketing and Sales, it makes us change the preconceptions that we have formed, leading us to see these two areas for what they really are, the revenue generators for companies. For this reason, organizations should consider restructuring these areas under two ideas:

  • Merging Marketing and Sales so that they work as one taking into account the sales goals and marketing goals. Only by defining the key strategic elements: Objectives, Buyer Person, MQL, SQL and KPI's that show the achievement of the targets.
  • Give the department a new title that reflects the relevance that must have for the organization, taking as a basis that it is the department responsible for "ringing the cash register" therefore it should be designated as the Revenue Department.

 By making these changes we can generate a change in the organizational culture that goes from the Board of Directors, General Management and all levels of the organization. This will help them understand what they really do and their importance within the organization, especially in times like the present where companies must look for ways to generate income that will allow them to continue operating.

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