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Business Development and Sales Management – Best Practices for sales pitch

30 Jan

Never underestimate the importance writing down your sales pitch even before you go about making that cold call which will bring in business.

Here are the essentials

First Rule: Watch and Learn:

Making a sales pitch is an art not rocket science. And to learn art you need to learn it from the guru. So, before you make the first sales call watch how your Senior (anda  successfulone at that) sales guy does it. Watch him, understand the pitch he is using and learn from him. I am not asking you to ape him. I want you to learn is modus operandi and tweak the sales pitch the way you see it fit.

Second Rule: Ink it down:

No point in watching the guy do the stuff, nod your head and walk away! That won’t do. You need to watch him do it form. If you have a VP of sales, in your company, and if he is the amicable kinda guy then watch him giving the sales pitch. I have always noticed that the best sales guys are always ready to impart knowledge. If he is the nice-types, then ask him to show you how it is done. And no, dont ape him. Learn from him. Do it 20 times for 20 days if you have it.
And write your own sales pitch. I mean it.. literally.. Write it down, mono ami. Write down your sales pitch word by word, syllable by syllable. I don’t care how long it will take you to do it. If you are smart enough – 1 day. If you are bright then – 2days. If you are the hard working type- 3 days. Anything more, then you are gonner!

LOL… Just Kidding. Take your time but get it done.

So, get the first draft ready, think about the pitch, the product you gonna sell and refine it.
Dont worry the pitch will get further refined as you go down the lane of selling.

Third Rule: Get the decision maker on the phone:

No use in dilly- dalling with the guys who cant make decisions. At best he can help you connect with the top guy. But when you make the call ask ” Can you please connect me to the head of Marketing” or ” Head of Business development” or do what i did when i made my 10th sales call,       ” Can you connect me to the Chairman of your company , please” .. Of course you wont be connected to him, but if you aim high you are bound to hit couple of inches down that, right? So someone will connect you to top dog in the company. Make sure he is the decision maker.
And go ahead and make your pitch, Sir!

Fourth Rule: Get Rejected:
That’s right! If you get the sale done in your first call then where is the fun, dude? You need to get rejected like zillion times to become the great sales guy you wanna be! So go ahead and fail and fail royally! But make sure you learn your lessons from it. If you dont know where you are going wrong, then ask your sales head to sit with you when you are making the call. That ought to do the trick. He will point out the mistakes to you. Now, he may not be the best judge but at least you will get a start, right?

And throw out your blasted ego and pride here… will ya?

Fifth Rule: follow… follow.. Follow-up:
This is really important. If you are gonna be the sales guy in your company, dont ever forget the cardinal rule.

After you make you sales pitch send in a follow up mail saying – “It was great talking you. I will connect with you (at time at Date) as agreed. Meanwhile, you can reach me at the following contact coordinates”. And then go ahead and give your contact details.
And if the sales call was a successful one then follow up it with a mail on the details of the product/service you are offering in the form of pdf format. send in your details in your pdf format only!
And hey, remember the rule, follow up.. Keep doing the follow up thingy. If he doesnt reply then mail him after couple of days (you will instinctively know when). If he still doesn reply, then call him . Remind him. Be nice. Be polite. Sound enthu (not over enthu).

Big Idea: Crying child gets the milk

Seventh Rule: Maintain a pipeline report:

Always maintain a proper pipeline . It should have the following fields:
Company name, Web address, Phone number, Mail id , point of contact name, and the decision maker, status of the sale, expected closure time.

I am not really a sucker for CRM. I rather put it in my excel sheet and share it with my team. And no, am not advocating that CRM is bad. But this is my personal choice. You take the call on this. Most companies insist on using CRM solutions. But my advice to those companies is that they need to get their sales people get familirize on how to use a CRM.

Most sales guys use Ms Excel anyway!

Eighth Rule: Keep in touch:
Your job is not over once you are done with the sale. You need to keep in touch with your client. Build relationships of trust. Do not disappear from your client’s radar.At least once a month shoot him a mail asking him what he thinks of your product find out profile of the  end users of the product are etc. If you give a analysis to your product manager it help me improvise on the product/services your company is offering.

Dont give him a chance to come to you when there is an issue. At the same time let him know where he can reach you and that he can reach you any time he wants.
This ensures that you have already a solid groundwork done before you go ask him for a sale again.

Ninth Rule: Build Trust:
This is paramount. People dont do business with products or company brand name. They do business with people. People who they can trust. So make the right moves for him to trust you.

Be fantastically good at giving him world class service even if you are not a world class company. You don’t have to be HP or WPP to give world class serice. Gain his trust with good service. Simple things will do – prompt reply to his mail, regular follow ups etc… Find your own ways to keep him happy.
These days almost everyone is Linkedin, facebook or Orkut.
Go ahead and connect with him there. It is ok to get a bit personal. Social Networking is ok these days !

The Tenth Rule: Love your customer’s, customer.

I dint say “love your customer”  … Read it again! I said – Customer’s customer. Your client’s end user.
The book by Ram Charan ” what the customer wants you to know” was not exactly the best sales book ever written but i did like what he said – Understand your customer’s end user. If your product can make that “customer” happy then rest assured your client will call you to give you the sale.

So what is it that you’re waiting for? Go ahead and do your research!

Here is an article from the business week which caught my attention and upon which i put up this post –

Sales Stuck?  Try Sticking to script

Other blog posts for you to read :

Successful Sales Starts with Listening

Tips To Being A Great Sales Person
Look forward to your comments on this…

Insipring article on rural bpo in india

29 Jan

yesterday’s editorial by Rasheeda Bhagat – Where money has new meaning , which appeared in Business Line has become one of most inspiring and important article in my life.  it practically changed the way i treat a BPO/Call Centre employee and more importantly it once again showcased  the power rural Indians have in shapping our country.

i request anyone …nay .. everyone who reads this post to follow the article link and the read it. that is not enough.  Pass on the post/link to your friends , relatives, managers where you are working and let them know the potential of rural India.

why is the post important to me ? you need to know my insignificant story first .

the story :

on the first week of Nov 2008 i quit my job at the advertising firm where i was working. i quit suddenly .. just like that ! one reason was due to a pressing  family emergency which i cant write it here for obvious reasons. the other was because i started hating the job. it wast not like that before, though!

i used to love the advertising field. i used to dream of working for an agency  for couple of years, finish a MBA degree . then join main stream marketing , enter Brand Management field with specialization in digital media communications. I was clear in what I wanted to do . But working in the company for close to 5 months I just got too stressed out. I dint have time for my family and friends . Even more alarming was that I dint have time for myself. working Monday to Saturday from 9 am to 9pm drained me out so completely that I was too exhausted on Sundays to do anything. I couldn’t read a book , felt lazy to go out and meet friends, dint have time to visit British Council library ( i used to go there every Saturday for 3 hours from 4 pm to 7 pm ).  i was tired to get up early morning to go out for a run/gym/yoga/meditation etc .. i just couldn’t .. so i quit! Call me a wuss but hey .. I have no regrets .

Today I believe that core marketing and PR has better chances revolutionizing brand management theories than advertising can ever do. I am looking to enter the Afro mentioned fields.

3 months hence I  still havent joined a new company yet. worse ! i dont have money to pay my credit card bills. now comes the call from bank bpo employees cordially asking me to pay my minimum due amount. i tell them i cant pay because i am out of work . i will pay it later with the interest .  but when they keep calling , i get irritated and blast them. i forget for a minute that they are just doing their jobs. they are collection agents and they have to collect and close accounts every month  which are due on late payments.

I forget that they could have been Shahida!

after reading the article yesterday, i realized i could have blasted Shahida or some one like her and now i am reeked with shame.

so .. who is Shahida ?

you will meet her when you read the artcile . here is a snap preview of her …

name : Shahida – age: 25 – location : Tirupathi (A.P) – education : B.A Economics , Telugu medium – occupation: bpo employee at Atlas Documentry Facilities Company Pvt Ltd started by HDFC bank – job profile : backroom processing of banks data’s in fuctions as opening of new accounts,credit card related information,foreclosure of loans ,etc.

pay : rs3,700/month – expense : Rs2000 sent to parents,rs 1,500 for hostel and lodging – for personal expense : rs 200 ( balance amount) – other income : after work shift , she makes 3oo rupees from weaving embroidery sarees.

Total amount on hand : Rs 500/per month.

Money sent to parents which helps in paying for her 2 brother’s college fees – rs 2000

her father earns – rs 60-70 a day .

Compare that with mine :

2-4 movies per month at Satyam Cinemas ( when i go with a friend or with my girl friend ) : rs 500 ( tickets alone)

a meal for 2 at Subway – veg patty sandwhich – rs 201- includes coke under “special offer” scheme . I go there almost every week.

other expenses – very very studpid unnecessary expenses – rs “more than 3000” .

Does that mean, I could /can help educating 2 young guys every month by paying their college fees ? does that mean i can uplift India in my own way in providing education to these students ? Does that mean, if I sacrifice a bit ( do i really have to watch 2 movies every month and eat at subway every week ?) i can make differece to a fellow citizen ?

Do the math and find out how much you are wasting …

And if HDFC or other bank’s marketing people are reading this post. I would like to ask  – why dont you take initatives and reach out to people like me directly to fund education of students – like that of Shahida’s brothers?  I am ready ..

As a customer/client I am ready . The question is whether the people from the bank/govt of india core management team ready to bring out innovative policies to tap working class people like me from urban india to educate the rural india.  I will never call them poor. They are more hardworking, more resourceful, more dedicated than most of us ( including me). They may not have money but I dont give a rat’s ass to money if you have diginity .

This is my clarion call to all the banks in India.

Here is an important line from the article which shook me to the core and changed me as a person.

” They have to fight for what most of us take for granted- a college education,a secure home loan, enough food on the table and a job in an air conditioned office…”

My Salutations :

to Shahida and her coleagues in that bank : My humble pranam to you . you inspire me in a way like no other other “self help” books or the monks who sold their ferraris. from you i realize the value of hard work , money and pride. if you ever read this post i want you to know that you have my sincere admiration and respect . you rock !

to HDFC bank : I am not your customer . I dont know how good is your service to your customer. I won’t comment on that. But this initiative you have undertaken – Kudos to you!  Great work and i wish you guys will go ahead and replicate this kind of work all over India.

I second what Mr.M Durgaprasd ,Assistant Vice-President and Head Operations (BPO), “……. I find them sincere,disciplined and hardworking”.

to govt of india :  most of the policies introduced is rampant with corruption. consider : the amount of money politicians would have pocketed set aside for NREGA.  But the EGMM ( Employee Generation Marketing Mission) initiative is something you will have my complete support.

most corporate look at rural india from a CSR perspective. it is nothing but one form or sympathy and empathy. people from rural india are not looked as someone who can bring in money for the growth of the company and earn a livelihood for themselves . Instead , companies open such initiatives and give it a CSR tag. I think that is stupid. given their dedication to work,opportunity for self empowerment and at the same time contribute to the growth of the company in terms of good service and revenue generation , corporate india should consider them at par with other employees from urban india.

that is why i always consider c.k prahald’s book – fortune at the bottom of the pyramid very important in its concept and execution to change  India.

I have earlier 2 articles on this :

About time we looked at rural india

Is india still in recession

Spread the good word !

Big Retail Store Vs Mom-Pop store – who wins?

27 Dec

Here is a reason why mom and pop stores are gonna to stay for a long time to come in India.

Was getting back home around 10 pm today.

There is a Heritage Fresh retail store near to my house. I always stop by to pick a Tropicana juice pack before i head home . Usually i get there before or by 10 pm . Today, I got late and reached there around 10.10 pm. The shop was not yet closed. But they were putting out the lights. I stop there and explain , ” Sorry I got late. Can i just pick up the juice ?” .

The guy at the store says , ” Sorry we are closed. Billing is closed” .

I was like , ” what the hell are you talking about ? the shop is not yet closed. the shutters are not down( The bugger  knows that i am aregular customer to his shop. I have been coming here everyday for the past 6-8 months to pick up juice pack) Why cant you just  go in there and get me the Rs 18 juice pack .”

But he wouldn’t budge. He put his foot down and refused to get me the juice pack.

I was determined to get my juice today. I went in search of another retail store. I found most the big retail stores closed. Spencer Daily was closed. Daily Life was closed. But …

But, the small shops were open. I zeroed in on a shop named ” Anna Stores” . Not a sophisticated  shop at all. He sells stuff across the counter. And guess what ? He  has almost everything you would need for day to day household purposes.

He was about to shut the store. It was already close to 10.25 pm. The shutters were  down halfway and he was checking if lights were all switched off.

He saw me approaching his shop, gave me a nice smile and asked , ” enna vennum , sir?” ( what do you want sir?)

I dint get my tropicana juice pack. He dint have stock. I got Appy Fizz drink instead. Not exactly the  juice I would like to drink before I hit bet. It cost me Rs 25. Why did I buy it ? Because , this guy took the time out to re open the shop , just for me, and offered to sell the stuff I wanted. Even before he re opened the shop I told him that I needed the Tropicana. He knew he dint have stock and yet he said , ” I will check and see if I can give you something else” .

He apologetically added , ” I usually keep 2-4 juice packs for my regular customers. But today i dont have stock. Come tomorrow I will keep one extra for you.”

I beamed …..

See ..  The Big Deal is – I was not his regular customer. Rs 25 was not going to set his cash register ringing to a bounty. He could have as well said no to my face and got back home to see his family after a hard day at work. Instead, he knew more about customer service than a professionally managed “hi-funda” retail store like – Fresh.

Now, why did that mom and pop shop owner go about his way to help me out ?

Where do you think I would go tomorrow to get my juice pack, my next soap,Gillette,Maggi noodle purchase?

How the Rs 10 soup selling gal gets its right and Satyam doesn’t on customer service

19 Dec

The race to MBA degree is mind boggling. In India especially, it is craze sometimes rivaled only to cricket. You can see it for yourself the hordes of mba wanna- be’s and the media coverage peak during the Nov-Jan season every year. What a spectacle to watch . Almost every magazine worth its salt come out with b-school suvery giving a list a top 50 colleges “you should study at ” . Some even bring out a separate book to cash in on the boom. And, hey .. don’t count me out.. I am in the race too .

A degree in MBA teaches you to understand cash flow statements, how to come up with great marketing ideas and all that jazz. But I wonder how did Shankari ,a 1 st year B.com student from a low rung women college get great ideas on marketing and customer service.

Let me give you the story first .

I love soup and for having that one or two cups of it  I go all the way to Ananna Nagar park where this guy sells really mouth watering , pipping hot soup ( completely natural ) at Rs 6 per cup. He has good stuff. You have to give him that credit !

These days( 3 months approx) ,  I drink soup from one of the Fresh retail outlets i visit. The soup is sold in small kiosks at Rs 10 per cup. You would have seen similar kiosks selling sweet corns and popcorn’s at a retail store near to your house. Small enterprising men/women take franchise contracts from the company which sells these products , then pay rent to the retail store and put up a kiosk outside and sell it. Great business idea . Has the ideal ingredient of entrepreneurship, job and wealth creation and good products to customers at affordable rates.

Now, getting back to the story . Shankari is a 1st year student studying for B.com at W omen’s College. She sits at the kiosk every evening with a book in hand selling Rs. 1o per cup soups. I have options to chose as well – Tomato, Plantain, Mushroom, Vegetable. For reasons unknown to myself I always buy Plantain or Mushroom. I knew what I was  buying but never gave it much thought to it. I just go up ask  , say , Monday it is plantain soup , Tuesday it is Mushroom. It is cyclic.Till the day – about  3 weeks back – shankari popped the question at me , ” Sir, why do you always buy Mushroom and Plantain soup, why don’t you ever try Tomato and Vegetable?” …

I dint know what to tell her. I muttered and gave some lame answer about my preference for mushroom and not liking tomato taste and stuff.. the next question caught me by surprise.

“Sir , other than mushroom and plantain, what other variety you like ?” ..

I gave her my options. And then asked what is she gonna do about it . She said , ” I will ask my brother to check if the company can give us the soup of your choice” ..

That bowled me out completely . Why did she bother to find out what my taste are ? why didn’t she just sell the soup at Rs 10 and continue to sit and study with that book in her hand ? why ? why ?

Normally, unless you pack it to your house, one drinks the soup standing there right next to Kiosk. There are 2 advantages to it – One , the soup remains hot and two you get extra corn as second helpings. I love the corn which comes with the soup , so I stand there and finish the soup then drop it in the dustbin and go back home.

That day,  while I was standing there drinking the soup ( I was drinking vegetable soup with lots of pepper. I had cold and shankari said drinking that soup with lots of pepper helps) she was asking the same question to lts of other customers of hers. Not every one. But a lot of them . Similar questions . In her own ingenious way she was conducting a survey. Maybe she realized what she was doing . Maybe she dint. That is not the point. She was proactive. She tried to understand her customer.

Later when i asked why she only asked the questions to a select few customers , she replies , ” They are my regular customers” ..

I felt privileged that day to  be a customer of hers.

Her brother has taken the franchise contract from the parent company. While she sits at the fresh outlet , her bro is doing the same thing some other part of the city.

I wonder if  she had read any of those management books? did  she read “The New Age of Innovation: Driving C0-Created Value through Global Networks” by C.K Prahalad on how to serve customized products to a customer in a collaborative environment with the N=1 , R= G rule ? How did she get this idea what a Univerity of Michigan Author did after much research ?

By the way, The New Age of Innovation has made it to the top 12 books on innovation given out by Business Week.

Read it here :  Best Innovation & Design Books 2008

But how come Stayam Computers dint get it right ?

The big fiasco of merger/buying Mayatas infra and properties which caused ripple of appalling magnitude among the investors across the table is there for everyone to see.

I read somewhere that the ISB’s dean was also part of the board which took the decision to buy out the two companies ( run by Ramalinga raju son’s). I am no authority to question the merit of the proposed buyout. Nor am I an investor. As a rule i don’t directly invest in Sensex. No speculative, sentiment prone gambling for me..No Sir.

But what I would like to know is how come such highly educated ,the creme-la-de creme managers and CEO and CFO of the company dint have the inclination to ask its investors and clients their opinion before taking such a decision? How come the MBA’s of IIM and MDI and blah blah dint know the tenets of customer service when such a proposal was mooted in the first place?

But man, what a PR and Corp Comm nightmare they should be having right now ? I cant but feel sorry for the guy who is handling the company’s PR account. He must be literally running pillar to post to get things “done” . The green horns must be having a great time in learning the art of crisis management. what better case study can they get .. ?

By the way , I loved the new Idea Cellular ad . About asking the people first before taking a political decision. The creative guy and the copywriter deserve full marks for the new ad . The previous ads were highly creative but not practical . The new one is very creative, very practical and got the execution right . kool Ad huh ?

IBM has a great caption going for its print ads – “STOP selling what you have and Start selling what they want”. Now, they get it .. Bingo ..

You get the drift ?


About time we looked at Rural India !

16 Dec

My uncle wanted to know if I was preparing for IIM exams ( notice that he dint ask me Cat or Xat but IIM) i dint have much to answer him except that , ” No, I am not interested in IIM’s or XLRI’s or any of the so called top colleges” … he gave me the incredulous look that you would have have when you hear that “Kumari” Mayawati has become the PM of our country.

And so when he asked me what my future plans were . I had to give him the truth . I told him though i am in the advertising field I would like to explore opportunities in Rural or Health care/fitness marketing . I also told him that 5-10 years down the lane I would like to specialize in marketing/branding for rural areas and start a non-profit company.I am very passionate about using the tools and knowledge of marketing and integrated PR in Health care/fitness Industry or Rural Marketing.

He gave me that OK-i-don’t-get-your-stupid idea look with a you-aint-gonna-go anywhere – with-that kinda nod and changed the topic. But not before it got me thinking about , ” why not rural India ?” .

Prahalad_0131877291_PB.qxd

Have you guys read the phenomenal book ” Fortune At the Bottom Of The Pyramid” by C.K Prahalad? If you haven’t yet .. then run to your library or better still buy yourself a copy of the book and  read it . Now is the right time to read the book. As global recession is going south bound and no one has a clue to what to do next .. here is the book which will give answers to the big MNC ‘s and entrepreneurs alike .

(This is not a book review. As a personal principle , I don’t write reviews. I recommend books to my friends but i never give them  a review of the books I read. Who am i to take a judgment call on another man’s work ?)

Getting back to the crux of the post and in conjunction to blog title , I think multinational companies in India and abroad should start looking at reaching out to rural cities/villages to stay afloat during recession. Or prevent another recession in the future.

Most SME’s and MNC’s ignore rural areas because they believe that people in such cities/villages have no buying power. They are considered poor by most global standards. But, that is exactly why we need to see them in a completely different perspective . C.K Prahald challenges the myth that considers poor people as poor when they are not . He quotes the work of Hernando De Soto’s book “The Mystery of Capital” which postulates that poor countries ; people from rural areas are not really that poor. They are often asset-rich and capital -poor. To quote from the book , ” Assets cannot become capital unless the country guarantees a rule of law- primarily the law of contracts – whereby the ownership of assets is clear….. For example, he ( Mr Hernando Soto) estimated that the trapped resources of Mexico are about $ 300 Billion” .

That is a phenomenal number! Imagine what potential can India have when 80% of India’s population in the Bottom of The Pyramid (BOP) slab will be able to quantify ? This 80% currently accounts for 67% of the current consumption. Aint that an awesome information to behold ? India is quite simply and easily one of THE  richest nations in the world and all that potential waiting to be  tapped and unearthed. We should be doing that now!

The Big Idea ? If MNC’s and SME’s ( Small and Medium Enterprises ) can come up with innovative, cost effective and customized products for the rural markets we would unleash a massive wave of marketing and innovation revolution in India. This would also force goverment to work with private companies to set up better infrastructure, proper health care and free education.

Here are my thoughts on a macro scale where we can make some mega changes in this sector :

Not just 4 metros : Metros are so termed because of the huge population and infrastructure growth. I suggest the state govt with the center remove the metros tag altogether. metros means metropolis. Taking TN as an example, let there me more metros in TN alone. Identify and improve those cities . say – Trichi, Coimbatore, Erode..etc .This idea can also be reflected in other states ..

Infrastructure : Have you been noticing that the number of cars in Chennai increasing  and really pissing you off ? Ever wondered why ?The answer is obvious, the middle class are getting prosperous and buying new/more cars. But why only chennai ( and other metro cities across the country) city alone? Because every year, of the lacs of engineers,diploma holders who pass out of universities come to cities like Chennai to work. Because MNC ‘s are well entrenched in metros. Simply put – they seek out better job opportunities and enhanced standard of living. Why not give these Young Turks opportunities in their home cities? Why not prevent them from migrating to the cities? Instead provide opportunities in their native places.

Young Turks : Have better local knowledge: These Young Turks ( as i would like to call them) can be better exploited or rather groomed by companies as they will have better working knowledge of the people in their area. Give them proper training and they will reward you with a better perspective on marketing, product development and sales, much better than IIM grads. And hey, you don’t have to pay top dollars for these turks . Pay them not with just good salaries but show them how they are contributing to their society through the company and you would even reduce attrition rates. Make them not – sales executive and stop their career growth. Give them titles like – Sales Manager or Marketing Manager of the area.. This will usher in sense of ownership as well. Unlike high funda grads these guys are more loyal to companies than most.

Streamline these grads – take care of them : Assign a experienced mentor and segregate these grads to become experts in Rural Management,Micro Finance, market research,rural marketing etc , step up teams and send them out to the field to visit the villages . Make the job profile exiting.A team can consist of 1 rural management expert– he will evaluate and micro manage, 2 market research experts– 2nos because this involves number crunching , 1 micro finance guy – who will identify how and how much loan to provide and 1 marketing expert – he will conduct survey and collect customer info and come up with ideas on marketing. The marketing guy with the rural managementguy can work on business development and sales. 5 in a team for one area/district, as necessary. 20-50 teams can be supervised by a General Manager . 10 General Managers can come under one Head . 5 Heads will report to Vice -President Operations of that Area – say South Market .. etc ..

And when they are out in the field- in villages and rural cities  for days – give them the sense of security that their families are taken care of when they are not around. You will  see ever lasting commitments to the parent company from these guys. Indians from rural cities give more value to relationships and sentiments than money and luxury.

Teach them to be innovative : Pick the latest copy of Businesswold. You will read the cover article about “The Real Nation builders”. They are not from IIM’s or IIT’s . what i am trying to convey here is if you can teach grads from rural areas to be innovative they will bring in results. They will give you great ideas . The MNC only has to identify the right idea , ideate on it , strategize and implement them. There you may need the IIM and XLRI graduated guys with Mckensiey background to do the work.

Use technology : The best software is not good enough if it cant deliver. India is already a tech/software giant. Software companies can then join hands  with services companies and launch customized products in rural areas and benefit from that .

You don’t have to depend too much on global money when it is right there to be taken from our backyard.

Rural India is a gold mine waiting to be tapped.  MNC companies wont just rake in profits but also built a nation in its truest form. All they need to do is understand customer demographic profile clearly and launch products according to them.

Welcome your thoughts and ideas on this .. If you like what you read here.. spread the word around and would love discuss more of the same- here in my blog.

Further reading from Economic Times :

Rural spend,housing to rescue growth

Technology or consumer- who is more important?

6 Dec

Sunil Bhrathi Mittal once pointed out, in The Economics time’s forum, that technology is not important but it is how you use the technology available to get results is…

I believe that he has made a very important point here. Technology keeps changing everyday but your goals remain the same (I am talking about the long term vision of your company). The core goals of the company are /should be well defined and crystal clear internally and externally.

Companies will spend billions of dollars in developing the latest technology but remember that ultimately technology is created for you to run your business in perfect order. and how will you run your business in perfect order? You do that by getting more customers and keeping the existing customer happy. Once again it boils down to that issue- customer …customer…customer. Keep your customer! Technology should help you do that and not the other way round.

Came across an interesting article today in Advertising Age on what the CMO should do in the new media marketing era and how important customer relationship management is.

You may want to read the article here:

Importance of customer focus

 

see you soon..