How to plan for sales in new businesses
Product [offering (product or service package)]
Sales Team
Hence the requirement is to constantly challenge the status quo. Push the organization to understand what can act as a value add to the existing system.
Today's Market Scenario
Analyze an existing business, there is almost no difference in the services provided by you and your competitor. Even though difference in offerings is negligible, then also end result in terms of market share is huge between no.1 and no.2. For example if we compare no.1 and no.2 companies in India's scooter sector Q1 2016 sales of number one manufacturer Honda scooter is 797K units, where as the sales of no. two manufacturer TVS is 183K units.
Plan to Reach at Top
Step 1: Getting the Basics Right
If you want your business to reach at the top the prime focus should be on two things number one get your product right and number two develop a good sales team.
Product [offering (product or service package)]
To develop your product invest considerably on the R&D. Please remember if your offering (product or service package) is not good your business will never reach to the top and/or hold on to the number one spot.
Sales Team
Product quality is a necessary but not sufficient condition for the success. Next requirement is to have a good persons in sales. Sales persons are the necessary evil.
Although we see that customer in general tries to avoid sales person. As most of the sales person pushes the customer with whatever offering they have; The sales person is not offering what actually the customer need. It is true for most of the cases as there is a mismatch between what customer wants and what your offerings are. Hence the sales person should be emphatic to customer and smart enough to educate the customer regarding their offerings and the value add being provided by their offerings
Although we see that customer in general tries to avoid sales person. As most of the sales person pushes the customer with whatever offering they have; The sales person is not offering what actually the customer need. It is true for most of the cases as there is a mismatch between what customer wants and what your offerings are. Hence the sales person should be emphatic to customer and smart enough to educate the customer regarding their offerings and the value add being provided by their offerings
Step 2: Go Beyond the Offerings
It is the customer who is going to ensure the success of the product. It is customer's "perceived experience" which is going to make the product a success. Hence first we should try to capture (or understand) our customer experience and aim for improving the customer experience.
Enhancing Customer Experience
So far we understand that to capture number 1 spot in the market, we need to make the customer experience worthwhile. Please note the price difference comes into picture only when there is nothing left to add in customer experience.
Enhancing Customer Experience
So far we understand that to capture number 1 spot in the market, we need to make the customer experience worthwhile. Please note the price difference comes into picture only when there is nothing left to add in customer experience.
2A: Upsetting the Status Quo
For established and matured businesses, for increasing sales, requirement is to have dissatisfaction or create dissatisfaction. For startups, we expect the business itself lies around some need or existing dissatisfaction. One cannot do sale to a satisfied customer.Hence the requirement is to constantly challenge the status quo. Push the organization to understand what can act as a value add to the existing system.
2B: Understanding The Need
There are two needs of a customer - one is physical need and other is psychological/emotional need.
Coming up more on 14th Sep
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