Marketing, Selling, and Networking: What’s the Difference?
Market Movers School of Real Estate
If you’re interested in a career in real estate or another business field, you have heard the terms Marketing, Selling, and Networking.
Chances are you have even seen a couple of other blogs highlighting their definitions. Still, they might not be giving you any clear answers. So, we’ll give you a quick overview of each.
We’ll examine how these skills can help you sell better, build your career, and make you a top competitor in your field.
Selling in its basic form
You’re probably more familiar with this term than the other two. Selling is the process in which we engage potential buyers and attempt to sell a product or service.
This short-term approach focuses heavily on the seller and product rather than the buyer or the buyer’s company. However, sales tactics constantly evolve to keep pace with the modern, tech-savvy buyer.
Think about the last time you were at a car dealership, and the salesman pitched you a car. They probably focused on all the car’s features, engine, build, and accessories rather than you or your needs. It was all about the product they were trying to sell you. That’s an example of Transactional Selling.
Selling that focus on delivering value to the consumer include Solution Selling, Consultative Selling, and Insight Selling.
With Solution Selling, the focus is on outcomes versus products and features. Consultative Selling takes it one step further by considering a broader strategy. It requires more work on the seller’s part, but it creates a deeper relationship. The key with Insight Selling is a deep understanding of customers and ways to establish credibility and trust.
Marketing is a Bit Different From Selling
Contemporary Marketing focuses on the buyer’s needs and interests. Fundamentally, Marketing is getting people interested in your company’s offerings that have value.
Think about the commercial your local burger joint aires. It probably starts with a line that caters to your appetite, having a good time with friends, and then a compelling price point.
In business, we refer to Marketing as a long-term strategy, as it attracts people to the company brand. And if you’re a salesperson, you want people to become familiar with your brand.
Think about it. If you’re a real estate agent, you want more people to know about your brokerage. That way, you might be top of mind and considered when someone is buying or selling a home.
Back then, a marketing mix was TV ads, billboards, and tables at conferences and events. While these methods are still effective, the best way to market a company nowadays is through social media and search engines like Google.
Networking is relationship building.
Marketing and Selling might have a lot in common, but their little brother, networking, is a bit different. Selling is centered around the product and seller. Marketing considers the buyer. Therefore networking is going to be centered around you, the businessperson!
When you think of networking, you might think about those high-pressure salesmen. They shove a product in your hand, press to buy their product, and demand to know your network of friends and families.
But, real networking is a lot different.
Networking is all about building relationships with people who are already well-established in your field. Networking also helps you promote your “personal brand.”
Think about the person in your field that almost everyone seems to know. That’s because they have a strong network of connections in their local field. The scale of their network makes them more attractive to clients, companies, and other salespeople. And yes, networking is a long-term business strategy.
Let’s use real estate as an example again.
If you’re a real estate agent, networking helps you get in touch with other real estate agents. These real estate agents help you better understand your job, the local housing market, and home-selling strategies. Your new connections also help you gain access to clients who might be looking for something you have. And once you become established in your field, you’ll return the favor!
How Marketing, Networking, and Selling Can Help You Professionally
Marketing helps bring more clients to your company and, by proxy, gets you more clients. Networking enables you to get in touch with the professionals in your field and learn from the best. Selling helps you grow.
Hopefully, we’ve been able to help you better understand these terms and how you might be able to apply them in a real-world context. And if you’re considering pursuing a real estate career, don’t hesitate to contact us.
We’re available for any questions you might have regarding your potential career in real estate.
Best of luck!