There used to be a time when companies could launch their products to all. Not any more. The proliferation of products and services with minute differentiation has demanded finer segmentation of market in order for even mere survival.
DeMo and GST apart, general dullness in the market is making it hard for sales, and brands are investing heavily into driving business development and sales. As with any major business initiative, an investment in sales enablers will need a business case. Unlike other processes, sales and marketing processes are pretty matured and there are good performance metrics available to evaluate the investment effectiveness. It will be interesting to look at some of these metrics and how one can effectively drive proper measurements for sales.
On July 1, every newspaper was flushed with GST related special offers by various organisations. Lower prices apart, how many of these companies provide at least a bare minimum level of service? More often than not we are faced with not even the basic levels of service. Telecom companies dropping our calls and making money on number of calls; hotels not waking up on time but yet having a long list of pillow choices; furniture sellers delivering items one week later the promised delivery date. When majority of our innovation is in copy-paste mode why do we lack on this area?
As we have been discussing in these columns, business-to-business (B2B) marketing is becoming more dynamic by the day and even by the hour, and marketers who are used to static marketing plans need a wake up call to deliver better results. Smartness is not at all about technology since the platforms are readily available. It is all about a mindset change that will help make a smarter marketer, and a better marketer.
Demonetisation and the cashless drive may have dampened the start of a great year in India for B2B companies. Media experts are questioning the merits of the DeMo move and doubting the India growth story with contradictory data between them and the government. A significant number of small and medium enterprises have lost a fortune in the midst of it all and with the GST looming large, what promises 2017 hold out?
The small and medium business (SME) sector offers significant growth opportunities, and marketing to this large segment of business in India makes sound sense for growth. Although many companies of local and international origin have positioned their products and services for the SME sector, many still have not been able to make a mark in a significant way. SAP, Oracle, Microsoft, IBM….you name it, they are all targeting the SME segment, if you just take IT sector companies alone. Perhaps Amazon is making more inroads into this sector disrupting established players’ business models.
Internet has impacted businesses in more ways than we had imagined since its introduction and proliferation. Businesses were able to put up a virtual infrastructure and a face for the world to see. Borders were truly a history in no time. Reaching out and “meeting”: prospects and customers are almost on real time. With it came other issues too: security, hacking, phishing and other new words to dictionary.