India is the new avenue where every investor wants to invest. This is primarily because the Indian economy is poised to grow in leaps and bounds. According to the International Monetary Fund India is currently the fastest growing economy. For the Indian economy to grow at this pace, it is important that the country supports more and more new independent ventures—startups that are exploring unchartered territories. For the country to give its full support to a startup, it is important that the business makes proper growth and robust revenue. This can only be possible if sales is strategized well in a startup.
India: a nation of billions of consumers
Why do you think investors are looking at India as the next big market for startups after China and USA? This is because India is one of the biggest nations when it comes to consumer capacity. For any startup, setting up a manufacturing plant setup in India is no big deal, once they are sure that sales will be taken care of. However, for sales to happen in a big way, a sales strategy needs to be in place first.
Sales strategy: a much needed step in a startup
While India is shifting from a country where majority of the population is dependent on jobs to a population that is creating employment for others, it has become imperative to talk about the reality of the startup ecosystem in India. Startups now consist of young and promising sales leaders who have learned the rope and can now pursue the sales in new startups. A Manufacturing plant setup in india or building Distribution Partnerships in India can never be enough to keep the boat sailing in a startup. The core of the business is sales and entrepreneurs must focus on strategizing this core.
Robust Marketing Strategy: marketing and sales are intrinsically related. For sales to gain a momentum there needs to be consistent and vigorous marketing campaigns that needs to be implemented. Marketing consultants or consulting companies carry out a study of the market to find out the scope of the business and accordingly forms the sales strategy.
Distribution Networks: India is a web of many local markets. Hence to carry out business in India, startups need to build distribution partnerships in India along with marketing plants setup. Well-connected distribution networks are needed to carry out the business in a seamless manner for any startup. Hence for sales to gain speed a robust distribution network must be chalked out first.
Customer Profile Creation: it is important to have a set template to put all the details of the customers such as demographic, psycho-graphic and geographic information. This will help to gauge the increase of customers in future and also understand buying patterns, purchase history and credit worthiness. This way it will be able to keep a track of the customer base of the business and understanding their demand pattern will enable the startup to get more business.
Customer Relationship Management: establishing good client relationship and then managing the same is the most vital part for a startup to be successful. Web-based CRM software can help startups to maintain regular client relationships efficiently and effectively.
Email Marketing: marketing and sales are intrinsically related. Hence having a robust marketing plan is important for a startup to be able to sell it products and services in the Indian market. In this era of internet, email marketing is a great marketing tool for startups.
Conclusion
Sales function is the backbone of any business. Especially in startups, sales is the most important aspect of the business as the revenue that it will generate will determine the future of the startup. Hence strategizing sales is very important. Young sales leaders in new startups are tapping into the digital resources to make the maximum use of online marketing tools to maximize sales and expand business. Indeed in the recent past technological disruption has played a pivotal part in maintaining client relationships and increasing sales.
Sources:
https://aeroleads.com/blog/sales-guide-indian-startups/
https://www.forbes.com/sites/forbesagencycouncil/2018/05/30/five-essential-marketing-strategies-for-any-startup/#188d0b579599
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