The relationship between marketing and sales is one of the most powerful synergies in a successful company. The sales and marketing team is responsible for finding new markets and customers for its business and growing its profitable sales to satisfied customers.
Sales have the challenging task of capturing sales at uncooperative customers. They must find them, get them to look at what they must sell, and convince them that they can solve their problems with products that make them successful in the market.
In many ways, Marketing’s task is harder and more difficult to judge how successful they are. Marketing must build awareness in the market of what your company is trying to do and develop the company’s image so customers trust they can use your products. They must figure out what needs and products you should be investing in for future growth. They also must manage all the messaging going out into the market, from ads to tradeshows, to web sites. And they must capture leads from all these activities and get the team to try to turn them into opportunities.
As you can see, Marketing is looking toward the future – where are the customers, what parts should we make, what do investors and customers think of us as a company – and Sales is more focused on what is happening right now – get my part into the system the customer is designing, get the order, makes sure the customer gets answers. This creates a natural conflict if sales can’t find customers fast enough or new products that you invest in don’t capture new revenue as expected, or troublesome competitors get in the way.
The best way to maximize the company’s results is to create a high-performance integrated Sales and Marketing program to focus all the team’s energy on finding new customers and markets and closing new business as fast as possible. To make that happen, you need to have the following:
An aggressive market communications program
Campaigns and Market communications – NEHANET CRM solution provides comprehensive campaign management support to define the messages you want to get out to potential customers, identify the target recipients for those messages, and execute the campaign with full tracking capability. Whether it is newsletters, emails, social media, or advertising, the solutions manage the entire process from definition and creation to distribution and follow up.
Smart, quick lead capture and follow up program
Lead Generation and Tracking – Modules plan and conduct email, social media campaigns to identify potential new customers. Lead tracking captures leads from these activities and web interactions and categorizes them for follow up. Leads are distributed to sales, and follow up tracking is used to make sure they are contacted, and effort is taken to convert them to an opportunity.
Key Account Planning – Let’s you segment your customer base and identify key strategic customers for maximum focus. You can develop an account penetration plan, build a penetration roadmap, and drive the team to engage with all the key players to become suppliers to the most critical customers.
New Business Tracking – CRM solutions to monitor and track the sales processes to capture new business is probably the most common first set of activities companies look for in a CRM solution. These processes start with an opportunity tracking module to identify customer programs that you want to get your products designed into and then track your progress as you move through the sales cycle from lead to production. By identifying new opportunities, you and your management can see what should be coming in the future and what they can do to win the business.
New product introduction coordination and execution
New Production Introduction – When you are introducing new products, the NEHANET solution makes it easy to set up controlled market introduction programs to target a select group of customers for beta testing and track each interaction’s results. You can build a penetration plan with a defined roadmap and drive salespeople’s activities to engage the customer and get market feedback and competitive information.
Well managed margin optimization program
Margin optimization is an integral part of the marketing /sales cooperation. Using the cost information in the system and tracking the results of previous sales efforts, you can find the optimum price that maximizes your profitability while maximizing your chance of winning the business. Tracking competitive information lets you identify the real trade-offs for price and performance that will optimize the business.
Quoting and Pricing Modules to develop and approve quotes through distribution or direct business to allow you to create a quote, get approval, and track the results of your selection. Pricing modules manage all the standard price tables for products by quantity, channel, currency, or quality.
Sales support information and training for team members and customers
Building a comprehensive training information program will ensure our salespeople are armed for combat as they engage with customers to win the business. By providing complete product and market training ahead of time and targeted presentation information, you can make every customer interaction have maximum impact.
Key Performance Indicators (KPI)
Track goals for the organization and individual groups or team members. By carefully defining the KPIs for sales and marketing to ensure both groups have the needs of the other part of the team in mind, you can build a data-driven goal-oriented sales and marketing team that will drive success. By making them part of the CRM solution, you can continuously track where things stand against the goals you have set and identified who need additional support to improve its results.
Analytics and Reporting
Capabilities allow you and management always to have a clear picture of where the business stands and how successful the sales and marketing teams are at achieving the short term sales goals and the longer-term objectives that will drive the future success of the company.
CRM solutions come in many forms and offer varying degrees of support for a company’s sales and marketing processes. How do you decide what you need and then get it without paying for many things you don’t need is a challenge. It would be best if you were careful that what you are buying fits your business and will work without excessive customization that many generic CRM solutions require for the electronic component manufacturer.
Many companies adopt generic CRM solutions that capture some information but do not help drive the marketing and sales activities needed to be truly competitive in today’s market. Today’s CRM solutions do much more and can provide end to end support for the entire sales and marketing process.
Today’s CRM solutions are much more than just customer contact management tools. They allow you to build a sales process that you can track, measure, and improve results. They also create a way to drive decision-making processes in the company to be more data-based and results-focused, so you prioritize the most important things that will deliver the best ROI for the company. NEHANET has developed a complete end to end sales and marketing business management solution designed for the electronic component/semiconductor manufacturing business.