Sales & Marketing & Sales Cycle
Most business owners do understand the cash implications of too much overhead, excess inventory or not collecting thier receivables. But when it comes to marketing, many business owners seem to forget about making cash and think, instead, about spending it.
They think about brochures, ads, logos, image, slogans, look, positioning, and creativity. Their only concern about cash flow, when it comes to sales and marketing, is how much it’s all going to cost. What ever happened to the idea of turning cash into more cash?
Apparently, when it comes to sales and marketing, that thinking disappears. Now you might argue that sales and marketing strategies need to be based upon more sophisticated and subtle criteria (creative, message, image, etc.) than simply the time it takes to conclude a sale.
Yes, it is reasonable to spend something on increasing your name or brand awareness. Sure, you need to look substantial with quality literature, stationery, and presentations.
But don’t kid yourself. The first criterion for any sales and marketing strategy has to be how it is going to impact your sales cycle. Otherwise you are going to be sitting around, amidst your beautiful stationery and brochures waiting for the orders that were supposed to be in last week.