How to use Sales & Marketing to Generate Revenue for your Business
The Theory
Sales and marketing are the tools you use to generate revenue. But what is the difference between them, and more importantly, how can you use them most effectively?
It is always useful to start with the basics. The process for generating business can be summarised with the acronym AIDA (Awareness; Interest; Decision; Action).
- Awareness – Before anyone buys from you they will need to be aware of your existence. This might be because you have a shop on a high street; it might be because you have a profile through some form of promotion (web presence; advertising, etc.), or local or national reputation
- Interest – Once people know about you, you want potential buyers to be interested in the products or services you offer
- Decision – You want that interest to turn into a decision to buy
- Action – You want that decision to be turned into an action – the act of buying
Marketing is the process of generating Awareness and Interest. It may also extend to Decision and Action.
The first stage in marketing for any new product or service is to decide who is likely to buy it, and the mixture of Marketing and Sales that is most likely to take the AIDA process to fulfillment.
The next stage is to develop a strategy to generate Awareness and Interest. Depending on the product, that strategy may go right through to Decision and Action.
If your product requires personal interaction (face to face or by telephone) then you also need to have a Sales function.
The Practicalities
Your objective is to get sales from a combination of existing customers and new customers. The exact mix will depend on the nature of your business.
To generate sales you need to:
- Create awareness of your brand and services
- Strengthen your brand, product and service offerings
- Generate leads
- Secure new sales
- Increase sales with existing customers
In any of those areas where you do not have specific skills, you should look to an outside source for assistance.
What can LGBA Sales and Marketing advisors do to help your business?
LGBA Marketing and Sales advisors can provide real life experience; strategic advice, and tactical support in all these areas. We have been there and done it.
The things we can provide include:
- Sales & Marketing Strategy, Planning and Delivery
- Marketing Systems Setup and Implementation
- Brand Development
- Digital & Social Media Marketing Consultancy & Training
- PR & Media Advice
- Sales Process Setup and Training
- Performance Audits
To find out how we can help your business sell more, email us at salesandmarketing@lgbusinessadvisors.co.uk and one of our Sales & Marketing advisors will contact you directly.
More information on sales and marketing
Cross selling – enabling sales, profit and customer loyalty
How do I grab the attention of my customers on social media?
18 easy ways to maximise your online presence
Case Study – New Sales & Marketing Strategy for South London Contract Catering Business
Case Study – Marketing Strategy and Coaching puts London Food & Drink Destination on the Map
