Limited resources or size constraints often force businesses to forgo a formal sales, marketing, or product development team. With that comes the claim “we don’t do that here.” But if the company has at least one paying customer, someone has defined the offering that someone promoted for someone to ultimately sell. So, it is safe to proclaim that any business DOES “do that here,” even if the same person does all three and limited or sporadic effort is applied.
In fact, it’s impossible NOT to have done sales, marketing, and product development if you have at least one customer.
The issue is whether these commercial activities – sales, marketing, and product definition – are being done well enough to reach revenue and profitability goals. The popular quote “nothing happens until someone sells something” sums it up nicely. Commercial activities that are subpar will make the life of small business owners even more challenging. Missing revenue goals can only be addressed by revising the commercial elements of the business.
What are the fundamental commercial actions? There are three. First, marketing leads to compelling messaging that resonates with and attracts good customers. Second, product development implements “just right” solutions that meet unmet market needs. Third, sales brings it home by diagnosing prospective customer needs and prescribing the best solution: yours!
Get commercial activities on track by asking three questions:
Who will be buying your offering?
Why should someone buy your product or service instead of the next best alternative?
How do you supply products or services that customers will consistently purchase?
Answers to these questions may uncover areas of the business that need focused improvement efforts.
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