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Sales and Marketing
Here, you'll find links to the information and resources you need to make an informed Sales and Marketing software selection:
Sales (the function that directly generates revenue through the sale of products or services) and marketing (the function that addresses customer needs and wants through communication) are two indispensible pillars of today’s businesses. Due to the affinity between sales and marketing, the two are commonly considered to be in the same category of business area. A few trends in this business area:
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Due to more product standards, increasing globalization, and fiercer competition, products are more and more alike in terms of physical characteristics. This product convergence is forcing companies to seek product differentiation more aggressively through their sales and marketing operations.
The marketing orientation adopted by many organizations requires tighter connections between marketing and other functions within a company. In other words, marketing professionals have to work with other departments more closely than ever before.
The average life cycle of products and services is shrinking, requiring sales and marketing to be able to address both specific customer demands and overall market needs and wants more efficiently.
Web 2.0 technologies are reshaping the communication landscape both internally (within the organization) and externally (between a company and its customers), whether for marketing campaigns or potential sales deals.
In short, sales and marketing operations must be simultaneously collaborative and efficient. The following business software solutions are designated to help (or include major functionality for) sales and marketing operations: business intelligence (BI) and business performance management (BPM) systems, customer care and billing (CC&B) systems, customer relationship management (CRM) systems, demand management systems (DMSs), enterprise incentive management (EIM) systems, enterprise marketing management (EMM) systems, merchandising systems (MSs), point of sale (POS) systems, quote-to-order (Q2O) systems, and sales force automation (SFA) systems.
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Demand Management
Enterprise Marketing Management (EMM)
Point of Sale (POS) Systems
Merchandising Systems
Incentive and Compensation Management
Customer Relationship Management (CRM)
Business Performance Management
Sales Force Automation (SFA)
Quote-to-Order (Q2O) Systems
Benefits of Using Software Solutions for Sales and Marketing
BI/BPM: Organizations use BI and BPM to optimize their performance and stay competitive within the market. For sales and marketing, BI and BPM can help identify sales trends over time, develop forecasts to plan and to identify sales metrics for the future, monitor and manage sales team performance, etc.
CC&B: CC&B solutions typically support providers of utilities, telephony, cable, or other service-providing companies. This type of solution usually contains functionality such as customer care, discount and promotions, and customer loyalty programs to facilitate sales and marketing operations.
CRM: CRM methodologies and solutions help companies build and focus on high-profit and sustainable customer relationships. In order to do so, CRM provides staff with customer intelligence and best practices to increase the likelihood of successful transactions (as well as customer acquisition, retention, loyalty, and profitability) by integrating information across the enterprise and enabling executives and management to gain insight into their customers.
DMS: DMSs help companies accurately fulfill sales forecasts and predict when inventory will need to be replenished (thereby lowering inventory costs), and determine when, how, and where to effectively obtain goods, materials, or finished products (according to demand) within the supply chain.
EIM: EIM solutions are used to improve sales strategies. These solutions help sales executives gain perspective on sales performance and business operations, and manage compensation programs.
EMM: EMM (sometimes referred to as marketing resource management [MRM]) tools help manage strategic planning and marketing resources. As a result, companies are able to market their services or products effectively and efficiently.
MS: MSs help reduce holding and operational costs; ensure greater control over premature markdowns; better manage inventory flow with pre-season and in-season ordering, replenishment, and allocation; and enable retailers to reduce carrying costs and automate processes.
POS: POS systems automate selling processes for faster, better check-out and reporting. Proper use of POS systems help increase customer loyalty by providing personalized shopping experiences, reduce markdowns by improving buying decisions, reduce inventory cost by replenishing stock at the store level automatically, and provide increased visibility into store transactions and inventory.
Q2O: Sometimes known as configure, price, and quote (CPQ) systems, Q2O solutions help manufacturers to mobilize their mass customization initiatives. These systems can reduce time-consuming quoting and ordering processes, decrease unit costs, and lower sales costs. Q2O suites can further help enterprises increase sales effectiveness across all channels.
SFA: The precursor of CRM (and now usually considered a subset of CRM), SFA systems help sales and marketing teams with functions related to taking orders, generating proposals or quotes, managing territories, managing partners, and maintaining contact data.
THE RISKS OF A FLAWED SALES AND MARKETING SOFTWARE SELECTION PROCESS
Although sales and marketing is a general function across all types of businesses, industry specificity has to be taken into consideration when companies are looking for solutions. Otherwise, a company risks selecting a solution lacking in vertical knowledge and best practices for the specific industry.
Solutions for the sales and marketing may range from single-point desktop programs to multilayer enterprise applications, and they have vastly different breadths in terms of functionality. Business users should be aware that the scale of a solution must match business size and requirements. Mismatches (i.e., between what a solution can provide and what a company needs) will result in unnecessary investment (for over-qualified solutions) or unsatisfactory implementations (for under-qualified solutions).
Sales and marketing operations can be either the input or the output of other operational functions. That’s why applications for sales and marketing must be well integrated (both process-wise and data-wise) into the whole company’s information environment. Otherwise, you risk disconnections between sales and marketing and other business processes.
Why use this evaluation center?Sales and Marketing Evaluation Center?
Determine which functional aspects of a Sales and Marketing solution are priorities for your business.
Evaluate and understand the functionality that addresses Sales and Marketing requirements.
Find the Sales and Marketing solutions that are most likely to serve your business.
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