By: Suzanne Ostrander
Econsultancy has conducted a recent study indicating the biggest mistake companies make in the marketing and sales arena. The study yields a result that lies directly parallel to the outcome of a separate study by Vizu. Essentially, both cases show that the primary objective of marketers and advertisers is to promote sales, rather than establish relationships.
Why is this marketing strategy potentially catastrophic? To begin with, think about the phrase: “it’s all about who you know” and how it holds true to so many business pursuits. If marketing professionals are placing a higher emphasis on sales numbers while undermining the importance establishing and maintaining relationships, suddenly “who you know” comes back to haunt you. In addition to the cold, hard facts about a business, product, or service, most customers want to hear a story or an example of how it has worked in the past. The key is to present your pitch in a way that the consumer can relate to.
In other words, it essentially becomes counterproductive for marketing specialists to focus only on sales numbers, while neglecting their relationships with clients or potential consumers. Eventually, the lack of time spent on customers will begin to have an adverse effect on monthly and yearly sales reports.
We’ve all heard the expression “time is money” as it relates to the business world. It seems as if more and more marketing professionals are taking this concept and reversing it, instead of using it for their benefit. For instance, sales associates who are driven only by their numbers have a tendency to spend less time with their customers, in an effort to make the most sales by the end of the work day. In the short run, they may beat the more methodical and personable sales associate. However, in the larger scheme of things, is quality or quantity more important? The answer is both. You cannot launch a successful, long-lasting product without spending time to nurture the relationships with your individual customers. Time is money, which is why the quality of sales is essential for long-term success.
For access to Steve Olenski’s article on marketing relationships, click here:
Click below for a youtube segment on tips to building successful relationships in marketing: