It's not about having the right opportunities. It's about handling the opportunities right.-
Success in sales comes with grabbing the opportunity at the right time. It most often happens that such opportunities not just come to you but have to be created through your efforts.
That is what marketing does to improve sales.
It creates that ambiance where customers become aware of your brand or product, gets attracted to the features and benefits, and finally, when sales approach it is easy to convert them.
So what are these concepts and strategies that help boost sales?
In this article, we will walk you through sales concepts, the advantages and disadvantages of using sales concepts, and the difference between marketing and sales concepts.
So scroll down for more.
What is a sales concept?
Sales concept refers to marketing strategies applied to increase sales and revenue by making customers buy what they necessarily need.
A sales concept example will be the great discount sale that happens every year. For the shop owner, it might be a stock clearance where they are trying to get rid of the overstocked products before the new set comes in. Seeing the discount rates, customers will be lured to buy the product or more even if they don't need it.
Sales concept sells not based on one's requirement but by putting selling efforts that tap the customer interest, curiosity, or the thought of making a profit.
Now a sales strategy that approaches customers by selling products and services whether they want to or not will have many advantages and disadvantages.
Advantages of using a sales concept
The above-mentioned sales concept example demonstrates a win-win situation where the sales team's responsibilities play a crucial role in efficiently connecting the owner with customers, allowing the owner to profit from old stock while ensuring customers receive high-quality products at a more affordable rate.
Now, let's look at the other advantages of applying sales concept strategies to selling.
- Attract Wider Customers
When companies initiate selling strategies, a wider customer base will be attracted to them. The offers, discounts, and benefits will make them believe that the product is a good deal or that it is a necessity for them. Increasing the customer base will hence help improve the custom reach and base for future sales as well.
- Improves Sales
In the era of sales transformation, brands not only focus on timing and seasonal trends but also leverage data-driven insights, customer behavior analysis, and innovative marketing techniques to create a more dynamic and customer-centric approach, resulting in sustained growth of sales and revenue throughout the year.
- Enhances Demand
Selling concepts try to enhance demand for a product or service that is not necessarily in demand for the customer. When you come across a product through multiple channels like a particular dress or gadget, even if you might not need it you will consider buying it.
For further reading, check Why Sales Approaches Are the Key to Your Business Success.
Disadvantages of using a sales concept
Through sales concepts in marketing, companies are luring customers to buy. Surely, this will be followed by disadvantages as well.
- Ignore Customer Needs
Selling concepts are strategies that indirectly make consumers buy even if they do not need it. This marketing strategy of not considering the customer requirement will not always bring a positive outcome.
- Short-term sales
Selling concepts, with their inherent short-term impact in catching customer attention, also translate to ephemeral sales and revenue. In contrast, sales as a service examples extend beyond mere transactions, fostering lasting relationships. While traditional selling concepts may create a temporary demand that eventually wanes, sales as a service models focus on continuous value delivery, ensuring sustained customer interest and engagement over time.
- Inconsistent Demand
Selling concepts only try to sell without taking into consideration much of the customer's needs, requirements, or demands. Hence, the product or service will always have an inconsistent demand rate. People will get bored of the ads or other selling strategies. Hence, companies must come up with better and more innovative ideas to ensure consistent demand.
Sales concept in marketing is a strategy that is regularly put into use as it helps achieve the selling objectives within a short period of time.
Difference between the marketing concept and selling concept
Marketing concepts and selling concepts are very different in their approach and style of selling.
- Selling concept is short-term selling while marketing concepts have a long-term selling approach.
- Selling concepts are not bothered about customer needs or feedback, on the other hand, marketing concepts are based on customer requirements and feedback.
- While the selling concept is focused on just selling a high number of products, marketing concepts look for profit-making through customer satisfaction.
- Selling concept focuses on making a profit by just selling while the marketing concept makes money by making products by understanding the customer requirements.
- Selling concept sells by projecting the product or services while marketing concepts project the benefits it will have for the customer.
- Online shopping, door to door selling make use of selling concepts while the automobile industry and electronic gadgets use marketing concepts for selling their products.
While selling concepts have their advantages and disadvantages, judicious use of the technique in your business operations at regular intervals will yield profit and growth for the company.
For further reading, check The Ultimate Guide To Successful B2B SaaS Marketing Strategies.
Selling is an art.
To achieve this, a salesperson's communication and confidence are refined through continuous sales performance analysis, helping them tailor their approach to emphasize the product's benefits and its indispensable value to potential customers, resulting in successful persuasion and increased sales.
Incorporating a selling strategy is dependent on various types of selling techniques. The month of the year, the product type, its features, demand, and many more will influence whether it will be bought by the customer or not.
But a great deal is determined by the salesforce that sells the product. To ensure consistent selling, the salesperson must be competent and motivated. And the most effective way to keep your salesforce is through incentive compensation.