9 sales and marketing controls to implement in your companySharika S Nair
To ensure that systems are in place, first you should ensure that your business is properly controlled. Sales and marketing control techniques are used in companies to evaluate their strategies and accordingly make the much needed alterations to their sales goals.
To help your company grow consistently, you would want your team to get the right amount of feedback to stay on track.
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While there might not be any hard and fast controls for every company, certain sales and marketing controls are more effective than the rest.
Here are nine sales and marketing controls that you may implement in your company.
Business owners use cost analysis to analyse the cost of marketing strategies and those that didn’t work. Based on that, the budget is forecasted.
A cost analysis should have the current costs, total costs of marketing, inventory costs, a breakdown of the return on investments and distribution costs. After that a comparison is made between the previous and current costs.
The performance levels of the sales team should be monitored from time to time. Also ensure that you revise the expected performance levels, and ensure that the sales team is informed about this well in advance.
Keep a track of who has access to your database and who doesn’t. Also make sure whether it is confidential or not. All the data should be protected and company controlled. Personal information shouldn’t be shared unless and until it is through the company.
Business accounts for social media should be owned by the company. The email addresses, passwords, and written policies should be taken care of as well.
Efficiency control is basically improving the efficiency of various marketing elements like sales force, promotion, and distribution. It majorly deals with profits earned.
Several disputes tend to arise with sales team members. To avoid glitches, ensure that the contracts and agreements are cross checked well in advance with your attorney. It is better to keep things clear rather than entering a conflict at a later stage.
To retain customers and welcome new ones, business owners need to know how their services are compared to the competitors at a regional, national, and probably international level. Knowing this, various market segments can be looked into. It also helps in avoiding similar mistakes made by others in a similar industry.
Both qualitative and quantitative feedback will give insights into customers’ needs. Customer feedback is a marketing control used to evaluate customers' opinions of existing products or services. An organisation can conduct surveys and use focus groups to engage in a feedback exercise.
These methods are sure to help your team and company grow and improve simultaneously.