Let’s dive into one of my favourite topics – sales.

Well more specifically I want to explore the symbiotic relationship between sales and marketing.

When you align your sales and marketing efforts, magic happens.

That magic can look like achieving up to 38% higher conversion rate, a 36% increase in customer retention, and saving 30% on customer acquisition costs. That’s impressive, right?

Translated, that’s money staying in your back pocket!

And yet, businesses tend to focus on getting marketing plans in place, overlooking the importance of a dedicated sales strategy.

Sales and marketing strategies are distinct, and understanding this difference is crucial.

Why does a marketing and sales strategy matter?

During my early days in business, I experienced a sudden drop in revenue after consistently earning $40,000 per month.

It felt like I was speeding toward a cliff with no time to build a bridge across it.

That bridge, my friends, is your pipeline – the lifeline of your business.

Relying solely on word-of-mouth referrals is risky. 

It leads to reactive decisions, discounting, and chasing the wrong clients. It can lead to a scarcity mindset that you need to overcome, or better yet, avoid altogether.

What comes first, marketing or sales? 

The truth is, it’s not about one preceding the other; it’s about understanding they go hand in hand. We must break free from linear thinking and embrace their interdependence.

The more important question is, which do you have – a marketing or sales plan?

Pssst.. Your answer needs to be ‘both!’

In our growth pipeline model (which you can grab here), there are three key components to both effective sales and marketing: Plan, Execute, and Evaluate.

Today, we’ll focus on sales planning. 

Regardless if you have a team handling sales, or you’re still at the sales helm, it’s essential to create a simple sales plan (and by the way, it does NOT have to be complicated!).

1. Examine the current shape of your business. The current shape involves looking at your past performance. For example, analyse revenue by client segments, services, or industries. Identify which clients, services, or industries contribute the most to your revenue and where the gaps are.

2. Next, define the future shape of your business. Determine your growth goals and what you want to change or maintain. Perhaps you want to focus more on a specific client segment or industry. Maybe you want to increase revenue from existing clients.

TOP TIP: To simplify this process, think of three key aspects: which client segments or revenue streams you want to grow, maintain, and acquire (aka business growth).

Set specific goals for each category based on your analysis in points 1 and 2. This approach provides a clear path for your sales and marketing efforts to follow.

Be sure to include the above insights into your marketing plan and that your marketing and sales teams speak to each other and collaborate in their efforts.

Remember, sales and marketing are not isolated entities; they’re your business’s dynamic duo. 

Embrace their partnership, set clear goals, and the result? Sit back and watch your business thrive.

Ps. Be sure to do the Pipeline Audit here.