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Prospecting
The prospective list is formed from personal contacts and the INC 500
list in which the company has the annual revenue ranging from ($5 $20) million.
These companies includes mostly web-development companies, ecommerce websites and start-ups from India, U.K. and U.S.
Pre-approach
The prospective customers are then contacted usually by the following
methods:
Cold calls: Depending upon the size of the organization and the
industry of the potential customer cold calls are done by different
person. If the organization is very big then the CEO himself does the
cold call otherwise someone who has better knowledge about the
prospects industry or the required sector where the problem lies (for
e.g. related to web development, e-commerce portals, consulting
etc.).
Statistics and Survey Results: For the companies seeking digital
marketing various survey results and statistics are provided to the
Call planning
The call planning is done on the basis of pre-approach done and are
focused on the discussions happened at that time. The call plan is
transformed into a meeting agenda that is shared with the customer.
The advantage of sharing an agenda is that the customer knows the
initial outline of the meeting from your perspective, and they can add
to it minimizing surprises during the meeting.
Presentation Styles
The sales presentation is mostly done by the CEO itself unless a particular
problem in any technical area is supposed to be addressed.
1. Problem Solving Presentation: This is a two-step presentation method.
The first stage is to study the individual prospects needs and the second is
suggesting a proposition. Thus helping the prospect to solve the problem.
The CEO asks the prospect about the requirements and accordingly, he
proposes a specific policy, its advantages and benefits. Similar methods are
also used in web development and management consultancy assignments
relating to all functions or customized products.
2. Planned presentation: In this method, the training and technical
department provides a format and the CEO then writes explanations,
descriptions and illustrations. The advantage of this presentation method is
that it appears more conversational and less formal, as the CEO is using his
own wordings.
As a result, in this presentation method the prospect also gets involved and
his doubts and questions can be carefully handled.
Objection Handling
Most of the objections are related to:
1. Services
2. Time complexities
3. Benefits
4. Price
Prospecting
A customers list is formed by the personal contacts and the top
corporates in India and especially those whose headquarters is
located in Mumbai who require Social Media Marketing or
Advertisement related solutions. These are the suspect list.
These suspects are converted into prospects using the following
QFDs whose actual limit depends upon the sector in which the
suspect is operating, external factors and varies from client to
client and is maintained confidential to the company:
1. Revenue
2. Market Size
3. Profitability
4. Past Transactions or Relations
Pre-approach
Cold calls: Clients servicing team makes cold calls to the brands which
are the prospective customers and need an agency for advertising and
Digital Marketing.
Call planning
The Clients servicing team and the sales team based on customers
profile prepared during the pre-approach stage prepares objectives for
what discussions to be carried out with the prospect for sales.
They give them a brief profile and then send them a power point
presentation slides of the company which has the following things:
1. The companys case studies and success stories.
2. How can they be benefited.
3. The USP which other companies can't give and their core
competencies.
Presentation Style
Once they get a pitch, the social media or any concerned team along
with the creative team brainstorm on ideas for the brand based on
their requirement and then the presentation given to the customers
are as discussed below:
1. Customized Presentation: If the brand agrees then they give them
a sales pitch power point presentation with the ideas for their
brand, how they will carry out it and the time frame required for
the project. Sometimes they also use aids like charts, video films,
prototypes etc. to gain the attention or explain or demonstrate
difficult concepts.
2. Organized presentations: This presentation is done to gain trust
and relationship of the customer during follow-up if the customer
seeks more time for the deal. This involves customized
conversations depending the need and requirement of the
customer.
Objection Handling
Most of the objections are related to:
1. Budget base
2. Awareness
3. Launch plans
4. Conversion rate
5. Brand building