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7 Steps Sales Process - Prospecting (First Step)

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Marketing, Business development and Sales

All three functions Marketing, Business development and Sales has one thing in common that they try to push organisation products and services to their target markets. These are integral and complimentary to each other with certain overlap also. All three function will directly contribute to help grow your business!! Marketing This function will focus on various activities so that their target market should receive appropriate message about their company’s products and services. They play a key role in market segmentation and product position however these two activities (market segmentation and product position) should have done with consultation of business development function. Marketing also decide on the various strategies to reach out to target audience, by focusing on brand or product positioning based on organisation or products key differentiators. There are various marketing strategies companies are adopting such as website content, digital marketing,...

Positive and negative motivation

Positive and negative motivation Motivation can come from a variety of sources and in both positive and negative ways . Positive motivation is the type of motivation a person feels when he expects reward and Negative motivation is the type of feeling a person gets when he expects punishment. Difference:  Positive and Negative motivation Both positive and negative motivation have internal & external aspect as mentioned in below graphic image. Both kind of motivation can lead to the same result however overuse of negative motivation may result in problems like hating the person who uses it against you. Positive motivation doesn't have side effects on the long run while negative motivation may have some. When to use negative motivation Negative motivation is only recommended when proper escapement channels are available. If the person knows how to escape the punishment, then negative motivation...

Are you a hunter or farmer?

Are you a hunter or farmer? E very entrepreneur understands clearly that without sales they have no business. In business domain, some salespeople types are farmers and some are hunters. Farmers, like to plant many seeds among prospects, water them, nurture them, and help them grow. Hunters, scouting for prospects and pursuing people who could become customers. However, it seems this scenario is changing rapidly, giving consideration to the role that social media now plays in business development and sales. In the past, salespeople were generally hunters or farmers.  Hunting vs Farming It isn’t sustainable to always be hunting. The cost of finding new customers is estimated to be very high compare to repeat sales to existing customers so it is vital to build own loyal customer base instead of always running around chasing down new leads. If you look at your customer base as an area, you have to do a lot as a farm...