One of the most enduring concepts in marketing is the idea of the marketing mix. The concept became popular in the 1960’s after Neil H. Borden published an article in the Journal of Advertising Research. Borden’s original marketing mix model contained twelve components. E. Jerome McCarthy later grouped these ingredients into four categories that became universally known as the 4P’s of marketing – Product, Price, Place, and Promotion.
In their seminal textbook, Principles of Marketing, Philip Kotler and Gary Armstrong define marketing mix as “the set of tactical marketing tools – Product, Price, Promotion, and Place – that the firm blends to produce the response it wants in the target market.”
Given the profound changes in marketing over the past few decades, it’s legitimate to ask whether a fifty-year-old model of marketing is still relevant and valuable for marketers today. My answer … Read More »
One of the most challenging parts of an inside sales call is overcoming the many objections that the prospect may come up with to dodge your sales pitch.
When cold calling prospects, it can be tough to break through the typical objections that prospects have as their wall of defense against sales pitches. Do any of these objections sound familiar to you?
I need some time to think it over
Can you send me more information
We don’t need your product
It costs too much
Will you call me back later?
We are happy with what we have now
Check out Genie Parker’s post to see her recommendations for busting these objections. Don’t forget to incorporate them into your logical branch scripting software!
“Inside sales – already an important component for many company’s sales efforts – is expanding as more companies develop or add to this valuable sales channel. Here are six things to consider to insure your new sales team is effective and profitable.”
Inside sales is a sales role that is increasingly expanding due to a variety of factors such as the expense of travel, the improvements and value of screen sharing and other online communication tools. If your organization is considering bringing your field sales in or adding an inside sales team, you need to see Mike Brooks’ six steps for creating a successful inside sales team.
Here is an overview of those steps — read his full post for all the details associated with each.
Define the role of your inside sales team.
Define your sales process.
Develop effective phone scripts.
Record your calls.
Learn … Read More »
Most companies have a sales funnel that is wider at the top than it is at the bottom. Finding the leads that you need to fill the sales funnel into your organization can be an exciting, yet challenging process, but a process that needs to be done regardless of how you feel about it. After a while, you might feel like all your methods for finding leads are stale and ineffective. If it is time to change up your methods, there might be a few untapped resources that can give you the wealth of leads you are looking for. Here are some resources for finding sales leads that you might not have considered yet:
If you are responsible for lead generation, you’ll often find that other sales people in your area (that you don’t compete with directly) might have leads … Read More »
This month, I’m featuring posts that describe a few of the many published predictions about what will happen in marketing during the coming year. In my last post, I discussed a recent webinar by the Aberdeen Group regarding what best-in-class B2B marketers are planning to focus on in 2015.
This post deals with marketing budget and spending trends in 2015. In late November and early December of last year, StrongView Systems surveyed business leaders from a wide range of industries regarding marketing spending plans for 2015. The StrongView survey generated 377 responses, mostly from business leaders affiliated with North American companies. About 34% of the respondents were from companies with 1-50 employees, while 28% were from companies with more than 1,000 employees. The survey did not provide a breakdown of B2B vs. B2C respondents, but it appears that both were represented.
The … Read More »
Buying/Selling business products abroad requires a lot of time, efforts, planning, and money to cover the extra expenses incurred. This business is very demanding and requires you to make sacrifices in order to succeed.
Creating good channels can be an added advantage to your business as this means huge returns. That’s why you should first familiarize yourself with the business tactics before fully investing in it. There are important considerations that you should take into account.
Failure to do so can compromise everything that you have worked so hard to build. Below are some helpful tips about how you can create a successful business abroad by having the right channels.
Identifying a Good Partner
– Having a good and reliable partner is one way to ensure maximum benefits to your business. When choosing one, ensure that the type of criteria followed should correspond with … Read More »
There are a number of reasons so many sales organizations have weak pipelines. Here are 6 of them. You have been told not to cold call. There is no greater obstacle to creating a healthy pipeline o…
All great points from thesalesblog.com, but one of the ones that seems to become more problematic as time goes on is #1 — you have been told not to cold call. Cold calling can be one of the most effective ways to reach out to prospects. Social media and social selling has its place, but it isn’t a replacement for picking up the phone — at least when it comes to complex sales & B2B.
While closing techniques vary, some practices remain true. Follow these inside sales tips to catapult your closing ratio.
In her recent post, Genie Parker shares seven powerful secrets for increasing your inside sales close rate:
Earn the right to ask for the sale
Maintain a follow up plan
Implement a CRM system for follow up
Resist chasing rainbows
Recognize buying signals
Answer buying questions with a closing question
Leverage the power of the pause
Read her post today to learn how each of these tips can improve your close rate.
“Would you like a way to become instantly better at closing more sales over the phone? If so, then simply incorporate these “must know” questions into your first qualifying call and you will immediately have better results when you call back to close.”
If you are a sales professional, you want to close more sales. Duh, right? However, we sometimes find ourselves stuck talking to a prospect who simply isn’t qualified. Mr. Inside Sales, Mike Brooks, to the rescue with five qualifying questions you must ask every time.
What role do you play in the decision-making process?
How does the decision process work?
How many times have you presented a solution like this in the past few months, and what happened?
Based on what you’ve heard so far, do you think this is a good fit for what you are trying to accomplish?
Is there … Read More »
2015 sales challenges will revolve around response time, adapting to the buying process, and simplification of processes for prospects and sales reps.
What is on your radar for 2015 trends and challenges for sales teams? In this post from Kevin Thornton of VanillaSoft, he outlines three key areas where sales & marketing professionals need to stay on their toes to get ahead of and compete with their rivals:
Rapid response time
Adapting to the self-educated buyer’s process
Simplification of the buying & sales processes
Check out Kevin’s post. What trends or perspectives would you add?