Sales vs Marketing: Which is More Important?
Summary
TLDRIn this insightful video script, the speaker explores the age-old debate of whether sales or marketing is more crucial in business. Drawing on examples of successful CEOs from various backgrounds, the script delves into the distinct roles of sales and marketing: sales as the art of asking questions and making direct recommendations, while marketing is about storytelling and creating emotional connections. The speaker emphasizes the importance of both in different contexts, highlighting the need for a balanced approach to achieve business success.
Takeaways
- 🤔 Business debates often revolve around the importance of quality versus quantity, offense versus defense, and sales versus marketing.
- 📊 Sales focus on asking questions and gathering data to make recommendations, while marketing is about storytelling and creating compelling narratives.
- 🔢 Sales is seen as mathematical and logical, whereas marketing is considered artistic and emotional.
- 🍹 In sales, the approach is direct, like offering to buy a drink at a club. In marketing, the goal is attraction, making people come to you.
- 💪 Salespeople are typically resilient to rejection, while marketers, being more creative, tend to be more sensitive to criticism.
- 📈 To achieve immediate results and hit short-term targets, focus on sales. For long-term growth and success, prioritize marketing.
- 📞 Sales involve converting leads into customers, while marketing is about generating a steady stream of leads.
- 👤 Salespeople promote themselves and their abilities first, whereas marketers highlight the benefits and transformative power of the product or service.
- ⚖️ The ROI debate: Salespeople emphasize measurable returns, while marketers focus on long-term impact and branding.
- 💼 Marketers usually have a salary and job security, while salespeople often work on commission and face more immediate job performance pressures.
Q & A
What is the main topic of discussion in the video script?
-The main topic of discussion is the debate between the importance of sales and marketing in business.
What is the speaker's view on the necessity of being either a 'marketer first' or a 'sales first' business?
-The speaker believes that there is no one-size-fits-all approach, as different types of CEOs have won in life by focusing on different aspects, whether it be sales, product development, or marketing.
How has social media changed the dynamics between sales and marketing?
-Social media has somewhat reduced the need to be as good in sales as before, but the importance of sales still varies depending on the industry.
What is the speaker's opinion on the role of sales in the life insurance industry?
-The speaker asserts that sales is critical in the life insurance industry, as policies always need to be actively sold, rather than being purchased spontaneously.
What is the primary difference between sales and marketing according to the script?
-Sales is about asking questions and gathering data to make a recommendation, while marketing is about storytelling and creating an emotional connection with the audience.
How does the speaker describe the difference between sales and marketing in terms of logic and creativity?
-The speaker likens sales to math, which is logical and analytical, and marketing to art, which is creative and emotional.
What is an example given to illustrate the difference between sales and marketing approaches?
-The example given is that of a man approaching a woman in a nightclub as sales, versus the woman being attracted to the man and approaching him as marketing.
How do salespeople typically handle rejection compared to marketers?
-Salespeople are described as getting over rejection quickly and moving on, while marketers are portrayed as being more sensitive and hurt by criticism.
What is the speaker's personal experience regarding the impact of sales and marketing on business growth?
-The speaker shares an experience from July 2017, where a focus on marketing campaigns led to a significant increase in the number of insurance policies sold in the following July.
What is the difference between sales and marketing in terms of lead generation and conversion?
-Sales is about converting leads, often through direct interaction, while marketing is about generating leads through campaigns that attract potential customers.
How do the speaker's views on the compensation structures of salespeople and marketers differ?
-Salespeople are typically on commission and their income is directly tied to sales, whereas marketers usually receive a salary and are not immediately affected by short-term sales results.
Outlines
🔄 The Debate Between Sales and Marketing
This paragraph introduces the ongoing debate in the business world about whether sales or marketing is more important for success. It highlights different types of CEOs who have won in their industries, such as Ray Kroc and Sam Walton who were sales-focused, and others like Steve Jobs who were more product development oriented. The speaker emphasizes that the importance of sales or marketing can vary depending on the industry, using the life insurance industry as an example where sales are always critical. The paragraph also outlines the different approaches of sales and marketing: sales is about asking questions and gathering data to make a recommendation, while marketing is about storytelling and creating an emotional connection with the customer.
🎨 The Art of Sales and Marketing
The second paragraph delves into the distinctions between sales and marketing, likening sales to math and marketing to art. It explains that salespeople are driven and can quickly move past rejection, focusing on immediate results and conversions. In contrast, marketers are more sensitive and creative, often focusing on long-term strategies and lead generation. The speaker uses personal experience to illustrate how marketing campaigns can lead to exponential growth, as opposed to the linear growth associated with sales. The paragraph also touches on the different perspectives of sales and marketing professionals on ROI and the importance of understanding both roles in business success.
Mindmap
Keywords
💡Sales
💡Marketing
💡Quality vs. Quantity
💡CEOs
💡Product Development
💡Social Media
💡Life Insurance
💡Storytelling
💡ROI (Return on Investment)
💡Lead Generation
💡Commission
Highlights
The debate on whether sales or marketing is more important in business is ongoing, with each having its own merits and applications depending on the industry.
Historically, successful CEOs like Ray Kroc and Sam Walton were known for their sales prowess, while others like Steve Jobs focused on product development and Jeff Bezos on marketing.
The advent of social media has altered the dynamics of sales, making it less critical in some industries due to increased visibility and reach.
In industries like life insurance, sales remains a critical component regardless of marketing efforts, as policies typically require personal selling.
Sales and marketing differ fundamentally; sales is about asking questions and gathering data to make a recommendation, while marketing is about storytelling and creating narratives.
Sales is likened to math, being logical and analytical, whereas marketing is more akin to art, evoking emotions and creative expression.
An analogy is made between sales and a man approaching a woman directly in a nightclub, while marketing is about attracting her interest through charm and personality.
Salespeople are characterized by their resilience to rejection and their ability to move on quickly from a failed sale.
Marketers are portrayed as more sensitive to criticism, likely due to their creative nature and the subjective nature of marketing strategies.
The impact of sales is immediate and linear, focusing on hitting targets in the short term, while marketing drives long-term, exponential growth.
Marketing is about generating leads through campaigns, whereas sales is about converting those leads into actual sales.
Salespeople prioritize selling themselves and their abilities, while marketers focus on the product and its potential to change lives.
The debate over ROI in sales and marketing involves the tangible, immediate results of sales versus the long-term, harder-to-measure impact of marketing.
Marketers often receive a salary regardless of performance, whereas salespeople live on commission and may go without pay if they do not make sales.
The speaker invites feedback from marketers and salespeople, encouraging a dialogue about the differing perspectives on the importance of their roles.
The Value Attainment Conference will discuss these topics further, highlighting the need for understanding both sales and marketing in business success.
Transcripts
you know these critical debates that you
have with people you work with some
people say well you know what what
matters the most is quality no no its
quantity no no its offense matters more
no it's defense it's peanut butter are
you kidding me it's jelly now that's a
critical one today we're gonna talk
about what's more important sales or
marketing look there's this notion in
business that a lot of times you'll hear
you read a book and someone's gonna be
so certain that the only way you and I
can win we have to be marketer's first
we have to be sales first which in
reality there's been so many different
types of CEOs that have won in life let
me explain to what I mean by this if you
go back in the days with CEOs and
businesses Ray Kroc was a sales guy
right
you have Sam Walton Walmart sales guy
Andy Grove scales transition Steve Jobs
product development Richard Branson
market or Jeff Bezos marketer and this
process has been taking place social
media has changed the game a little bit
we don't have to be as good in sales as
we did before
however it also depends on the industry
you're part of there's certain
industries that no matter what you do
sales it's critical life insurance I'm
in that business no matter how good of a
job you do marketing a life insurance
policy always has to be sold when is the
last time you woke up in the morning and
you said you're gonna go buy life
insurance today what's the last what
commercial did you watch a commercial
Widow well and say mom I'm gonna buy a
life insurance policy today no one ever
does that we have to keep selling so
there is nothing I'm gonna tell you
today marketing or sales that is a
hundred percent applicable to every
single industry so having said that
here's some of the differences between
sales and marketing number one so here's
one way to think about the differences
between sales and marketing sales is
about asking questions marketing is
about storytelling let me explain to
what I mean by this sales I go to a
business I say John how many employees
do you have 200 how many current
computers do you such-and-such how much
data do you such I ask 20 30 questions I
gather data then I make my
recommendation and he either buys or
doesn't buy with my three options I gave
him that's asking questions on this
other side marketing his storytelling
here storytelling my name is John I own
a business I have a thousand employees I
caught myself spending so much time with
the computer
technology because wire systems were so
slow then comes Joe from IBM he sat down
with me he showed me what we do we
changed the systems we brought them on
board this is the money that we spent
and we ended up saving 2.8 million
dollars and our speed went from 48
seconds to now 17 seconds thanks to IBM
marketing sales number to sales is math
marketing is art remember back in school
you had art classes and music and drama
and then you had math you go and do math
that's very logical three plus three is
six all right
this is the Pythagorean theorem right a
square plus B square equals C square you
know this is trigonometry math analysis
no one leaves a math class saying I
can't wait to go home and tell my mom
about this emotional moment I just had
in math analysis class I mean I just
connected it reminded me of my family no
one does it because it's logical itself
boom boom make sense we go home right
drama art music you sit there in a
classroom Mary goes up in drama class
Shakespeare she does this part and you
come you sit there like oh my gosh she
was amazing she made me cry I can't
believe I cried you go home you tell
your mom mom I cried today in drama
class Mary made me cry it was amazing
mom and he tell your sister at night he
Cindy Mary made me and you shared that
experience you experience art drama
music you don't experience math because
it's logical both effective but when you
share one you don't number three here's
another example between sales versus
marketing sales when a guy wants to go
to a girl in Florida at a nightclub
right he goes up to her can I buy you
drink you look good that's sales
marketing gets attracting she comes and
talks to him now how do you do that now
let's take Mario for an example here on
this video
I know Mario very well I've known him
since he was 18 years old Mario's got
strong muscles he's a good-looking guy
he's a nice guy's got a big heart he
works very hard he's all about love he's
great with kids he's amazing any woman
would be lucky to date a guy like Mario
right that's what you call marketing for
all the ladies who reach out to Mario
and send a direct message on Instagram
or social media or snapchat that's what
you call marketing versus Mario sending
you a message saying you look good you
want to go out see the
difference number four here's the
difference between having worked with a
lot of salespeople how they're driven
versus marketers salespeople get over
rejection quickly someone rejects them
they're over it they forgot about they
don't even know what happened they move
on right at least somebody that's been
in sales for some time
marketers oh my gosh if you say one
thing about their marketing strategy not
that they're sensitive they're hurt they
are more sensitive why because they're
more creative creative people generally
are more sensitive to criticism versus
salespeople salespeople I'm good I'll
move on these guys gonna take your
person that can be can hurt them a lot
so whenever you're trying to give them
feedback it's got to be slightly
different than when you're giving
salespeople feedback
number five here's another dynamic
between sales versus marketing if you're
CEO you're running a business and you
didn't hit your numbers last quarter
right you kind of upset if you want
immediate results we're gonna hit your
numbers next quarter drive sales it's
all sales because it's immediate but if
everything's going good your numbers are
looking good and you want to have an
incredible next year 2019 2020 you got
to focus on marketing let me explain to
you from personal experience last July
2017 we sold 1800 insurance policies in
one month last July this July we sold
four thousand five hundred and ninety
nine in one month insurance policies it
wasn't just sales we drove marketing we
had marketing campaigns we got to think
about your year and a half on what we
can do to exponentially grow and we
focused on this so sales drives linear
marketing drives exponentially number
six one of the conversations you'll hear
about in business is about attracting
leads right no matter what kind of leads
you're getting Internet all over the
place but sales is about converting
leads marketing is about generating
leads so this guy gets a lead then he
goes who works it and sells it right and
hoping he gets referrals back so he can
sell again it is a prolific salesperson
but on the other side marketing brings
leads you're not chasing it it's
constant generating leads left and right
because you have a marketing campaign
that's coming to you rather than you go
into them number seven here's another
difference between sales and marketing
salespeople are about selling themselves
first I come to you now say let me
tell you I can take care of you here's
what I've done here's who I am I'm great
at what I do I'm prolific I'm amazing
and here's a company I offer and here's
a product and services we sell do you
want to do business that's sales right
marketers say this is a product and this
product can change your life this
experience can change your life product
first people first both matter but they
each have different way on they view
what's number one number eight this
one's going to be very complicated you
can see oh you the entrepreneur have to
know how to manage this too and here's
what I mean by it
salespeople will generally get upset
with these guys and they'll come to you
and say this listen Pat look what I did
last month
do you realize what I did for you look
at the numbers on what we did for you
last month we did a million dollars last
one we did $600,000 ausma why the hell
you give these market or so much credit
and a budget we're the ones that are
doing everything
ROI I can show you your return on
investment for me here's your return on
me that's sales marketers you go up to
them and say well how can we measure the
success of this last campaign you guys
that I can't measure the success
it's not about measuring success it's
about long term it's about five years
from now it's about ten years from now
it's about a winning the best commercial
of the year it's about winning the best
campaign of the year it's about this and
by the way that they're obviously BS and
half the time but if these guys get one
right a 1984 Apple commercial till today
is known as the greatest commercial
marketers put it together that
salespeople both matter someone's got to
do the selling someone's got to do the
marketing but this is the ROI debate you
have to know what they're gonna sell to
you and what these guys gonna sell to
you number nine there's a last one a lot
of marketers are probably not gonna like
this but it's the truth marketers get
paid a salary they get paid no matter
what they do they're gonna get paid and
typically marketers don't get fired
right off the bat marketer is gonna have
a month two months three months six
months before maybe you're later they
get fired run they're gonna get their
salary safe warm fuzzy everything is
good salespeople or Commission's these
guys don't sell they don't make money
they work very hard chasing a sale for
sometimes six months and the customer
says no and they still don't get paid
and they still need to do the work
that's why sales get so much respect for
what they do and these guys get the
glory for hitting one home run but
everybody talks about it you know what's
crazy about all these topics that we're
having this is all this stuff we're
gonna talk about at the first live value
attainment conference once we cross a
million subs on Value table which we're
getting very very close and by the way
for all of you marketers and salespeople
who agreed or disagree with what I said
in this episode send me a tweet at
Patrick made David I absolutely want to
hear from you regarding today's episode
and if you were looking for the PDF
Mario saved the day again click on a
link below to go get your PDF on today's
episode regarding the differences
between sales versus marketing take
everybody bye-bye
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