Is having a great product the only requirement to run a successful business? For most companies, the answer is no. Why? Because generating sales requires potential customers to understand that a product exists, what it does, and why it’s better than a competitor’s offering.
The responsibility to communicate that information rests on the shoulders of the marketing and sales teams. Typically, marketing has a predominant role at the beginning of a potential sale. For example, a marketing team may develop a new radio campaign to help spread awareness about a product launch. A sales team works to finalize a deal by communicating directly with leads and addressing their concerns.
Throughout the sales cycle, it will take multiple contacts using both sales and marketing to move prospects to the next level. To build a successful business, you must develop a program that combines sales and marketing and reaches out to prospects in all three stages-cold, warm or hot-on an ongoing basis. Entrepreneurs often get into trouble by choosing only those tactics with which they're most comfortable.
To avoid this trap, divide your prospect database into cold, warm and hot prospects.
64% of sales professionals now use CRMs, up from just 28% in 2017. Customer Relationship Management (CRM) is all of the activities, strategies and technologies that companies use to manage their interactions with their current and potential customers. A saying frequently heard and said in many businesses is "customer is king". CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention. Since customer loyalty and revenue are both qualities that affect a company's revenue, CRM is a management strategy that results in increased profits for a business.
Here’s the list of SOPs that will help you to streamline your Sales and Marketing activities in a greater extent.
1. SOP-SM-01 : The Sales and Marketing Organization
2. SOP-SM-02 : Sales and Marketing functions
3. SOP-SM-03 : Terminologies in Sales and Marketing
4. SOP-SM-04 : The Sales Process
5. SOP-SM-05 : Negotiation Techniques
6. SOP-SM-06 : Customer Relationship Management
7. SOP-SM-07 : Effective Techniques in Sales
8. SOP-SM-08 : Marketing Techniques
9. SOP-SM-09 : Customer Service in Sales
10. SOP-SM-10 : Credit Policy
11. SOP-SM-11 : Booking Policy
12. SOP-SM-12 : Cancellation Policy
13. SOP-SM-13 : Discount Policy