In the corporate world, increasing sales and the revenues of a company in spite of their interrelationship are diverse business goals, which require separate strategies. Although, the techniques, tactics and strategies for each of these essential components of a business enterprise may be different in reality both sales and revenue complement each other. This is the reason why it is imperative for corporate enterprises to have a thorough understanding of the relationship between sales and revenue along with how to reach a balance on the need to increase each of these essential elements to help the business organization to market effectively and efficiently while optimizing their net profits.
Steve Sorensen, a reputed business coach and founder of Enlighten360, emphasizes that that the marketing and sales departments of a corporate enterprise work towards achieving the same goal. The objectives of both the departments are to find innovative and cost-effective ways to enhance the sales revenue of a company. This prominent business coach, who has been instrumental assisting many corporate enterprises in gaining the competitive edge in the market by introducing innovative sales strategies, says that companies need to consider the market they are catering to in the digital age. Adopting innovative, smart and cost-effective sales and marketing techniques are essential for companies who enhance their sales revenues and gain the competitive edge in this market. He suggests that corporate enterprises should consider the following strategies:
- Keep lines of communication open
In spite of the fact that the marketing and sales department of a corporate enterprise work towards a common goal in many companies both of these departments, have their own designated turfs. It is imperative for the management of the company to integrate the two departments to boost sales and revenue.
- Automate
While personalization is still necessary in relation to sales and marketing, in the information age, automation is equally vital for corporate enterprises who want to adopt cost-effective techniques and strategies to enhance sales revenue. Marketing automation is just as simple and convenient as sending a stock reply to the person making an inquiry.
- Create Urgency
Members of the sales and marketing departments of a corporate enterprise should convince potential clients that the best time to purchase the company’s products or services is the present moment. A prudent way for a corporate enterprise to achieve this task is by introducing one-time offers and special discounts.
- Switch from outbound to Inbound Marketing
In the digital age, customers are opting to seek out products and services that they need via quick online services. This is reason why it is essential for companies seeking to enhance their sales revenue to take advantage of this marketing technique. Inbound marketing is the perfect cost-effective strategy for achieving the goal of increasing sales and profits in comparison to outbound sales strategies.
Steve Sorensen stress that the bottom line is that companies who want to increase their sales and revenue in the digital age need to serious re-consider the effectiveness of their traditional marketing strategies and keep an open mind to the above sales and marketing strategies.
Barbara Ratliff