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Sales Force Management: Recruiting, Setting Goals, and Leading and Incentivising Your Sales Team

Posted on by Imarticus Learning

Sales teams are vital for generating revenue and growing a business. They bridge the gap between a company’s products or services and its customers. Successful organisations in competitive markets need effective sales force management. This includes hiring the right people, setting clear goals, and motivating the sales team. 

Managing this team is crucial for meeting sales targets, ensuring customer satisfaction, and maximising profitability. A good sales team leader explores strategies to motivate and inspire sales professionals, beyond traditional incentives like quotas and bonuses. They also discover proven techniques to boost team morale and productivity, creating a positive and high-performance sales culture.

This blog will give you a comprehensive understanding of sales force management along with recruiting the right team, setting achievable goals, and incentivising your sales team. If you’re interested in a career in this field and want to join a sales and marketing management program, it’s important to understand sales and how to form and manage the perfect sales team for the ultimate business growth.

Recruiting a High-Performing Sales Team

Building a successful sales team is the key to effective sales force management. It includes two important parts: clearly defining roles and responsibilities within the team and hiring the best people. Both aspects are crucial for creating a united and capable sales force that can generate revenue and contribute to the organisation’s overall success.

Defining Roles and Responsibilities

Clear and well-defined roles are crucial for the success of any team, including sales teams. When roles are clearly outlined, team members know exactly what their responsibilities are, avoiding confusion and overlap. This clarity promotes a sense of accountability and purpose within the team, ensuring that everyone is working towards the organisation’s goals.

Well-defined roles also encourage effective collaboration. Each member of the team can focus on their specific areas of expertise, such as finding new prospects, generating leads, or closing deals, which ultimately leads to increased productivity. Additionally, clear roles make it easier to evaluate performance and develop specific skills, as each team member’s responsibilities are transparent and measurable.

Strategies for Determining the Specific Roles and Responsibilities

To make a sales team effective, it is important to define clear roles and responsibilities. Here are some strategies to help determine specific roles and responsibilities:

Assess Organisational Goals: Start by aligning roles with the company’s overall goals. Determine what the company wants to achieve, such as increasing revenue, expanding the market, or keeping customers. This connection ensures that each team member’s efforts directly contribute to the company’s success.

Analyse the Sales Process: Break down the sales process into key stages, like lead generation, qualification, presentation, and closing. Identify the tasks and skills needed at each stage. This helps customise roles based on the specific requirements of the sales process. Team members can focus on their strengths and become specialists in their assigned stage, improving efficiency.

Consider Customer Needs: Understand the needs and preferences of your target customers. Different customer groups or industries may require unique approaches and expertise. Assign team members based on their ability to connect with specific customer groups, ensuring effective customer relationships. This personalisation can result in higher conversion rates.

Regularly Review and Adjust: Roles and responsibilities should evolve as the company and market change. Regularly review and make adjustments to ensure they remain relevant and effective. The business landscape is dynamic, so it’s important to adapt to stay competitive and meet evolving customer demands.

By following these strategies, you can define clear roles and responsibilities within your sales team and optimise its performance in a constantly changing market.

Hiring Top Talent: Strategies for Recruiting and Selecting the Right Candidates

To ensure the success of your sales team, it is crucial to recruit the best talent. Exceptional salespeople can boost revenue growth and foster a positive sales culture. Here are some strategies for effectively hiring the right candidates:

Be clear about the job description: Create a detailed description that clearly outlines the responsibilities, expectations, and qualifications required for the role. This will help potential candidates understand the position and determine if they are a good fit.

Use multiple recruitment channels: Take advantage of various channels such as job boards, social media, professional networks, and employee referrals to reach a diverse pool of candidates.

Evaluate cultural fit: Assess candidates not only based on their sales skills but also on their compatibility with your company culture. A good cultural fit enhances teamwork and employee satisfaction.

Conduct behavioural interviews: Ask candidates about their past experiences and how they handled specific sales situations. This will give you insights into their problem-solving abilities and customer-focused approach.

Identifying Key Qualities and Skills in Potential Sales Team Members

It’s important to identify the right qualities and skills in potential sales team members. Look for candidates who have the following traits:

Excellent Communication: Salespeople need to communicate well with customers and coworkers, making the value of the product or service clear.

Resilience: Sales can be tough, so it’s important to find people who can bounce back from rejection.

Empathy: Understanding customer needs and building relationships are crucial to successful sales.

Adaptability: Sales professionals should be able to adapt to changing customer preferences and market conditions.

Setting Goals for Your Sales Team

Setting clear and effective goals is a crucial part of managing your sales team. It ensures that everyone is on the same page, motivated, and working efficiently towards the organisation’s objectives. Here’s how you can set achievable goals for your sales team:

Establishing Sales Goals and Objectives

To effectively manage a highly productive sales team, it is important to understand and practice efficient goal setting. Well-defined sales goals act as a guide for success, allowing evaluation of performance, identification of areas for improvement, and driving progress. These goals can be long-term, reflecting big aspirations, or short-term, highlighting immediate responsibilities and milestones that contribute to the larger objectives.

Importance of Clear Sales Goals

Having clear sales goals is essential for guiding a sales team toward success. These goals serve several important purposes:

Direction: Goals provide a clear path for the sales team. Team members know what they need to achieve and can work together towards those targets.

Motivation: Goals are motivating. When sales professionals have challenging but achievable goals, it encourages them to perform their best.

Measurement: Goals allow for objective performance tracking. They help measure progress and identify areas for improvement.

Accountability: Clear goals hold team members responsible for their performance. It’s easier to evaluate individual contributions when goals are well-defined.

How to Apply SMART Goals to Sales Teams

When applying SMART goals to sales teams, it is crucial to convert nebulous targets into actionable steps. Here’s how you can do this:

Specific: Rather than setting an ambiguous goal such as “increase sales,” make it more precise with an aim like “increase monthly sales revenue by 15%.”

Measurable: Put in place tangible metrics to monitor progress, for instance, “keep track of the number of deals closed each month.”

Achievable: Ensure that the goals set are feasible and can be reached given the team’s resources and abilities.

Relevant: Make sure that the sales goals are in line with the wider business strategies to maintain coherence.

Time-bound: Clearly define the time frame in which the goals must be met, such as “achieve the 15% increase in revenue within six months.”

Leading and Incentivising Your Sales Team

Managing your sales team involves leading and motivating them to perform at their best. Effective leadership and motivation can inspire your sales team to achieve outstanding results.

The Role of a Sales Manager in Guiding and Leading the Team

Sales managers play a crucial role in ensuring the success of the sales team. They do more than just set goals and quotas; they are the driving force behind the team’s performance. The key tasks of a sales manager include:

Setting the Vision: Sales managers define a clear vision and strategy for the team. This vision aligns with the company’s objectives and provides a sense of direction for every team member.

Coaching and Training: Effective managers continuously coach and train their salespeople to improve their skills and performance. They identify areas that need improvement and offer guidance on how to excel.

Performance Evaluation: Managers assess individual and team performance against established goals. They provide helpful feedback and identify areas for growth.

Problem Solving: Managers are responsible for addressing challenges and obstacles that the sales team encounters during their sales activities. They find solutions to ensure the team can work effectively.

Strategies for Motivating and Inspiring the Sales Team

Keeping the sales team motivated and inspired requires a combination of leadership and communication skills. Here are some effective strategies:

Recognition: Give public acknowledgement and rewards for outstanding performance. This boosts morale and encourages others to perform well.

Communication: Regularly communicate openly and honestly to make the team feel part of something meaningful. Managers should keep the team informed about company updates, changes, and successes.

Challenging Goals: Set ambitious but attainable goals to drive growth and commitment. Sales professionals thrive on the pursuit of excellence.

Professional Development: Provide opportunities for skill development and career advancement to keep team members engaged. By investing in their growth, you show a commitment to their success.

Flexible work arrangements: Offering the ability to choose work hours or remote work options, can help employees achieve a better balance between their professional and personal lives. This not only prevents burnout but also leads to higher job satisfaction and long-term dedication and productivity.

Developing Leadership Skills as a Sales Manager

Sales leaders can improve their leadership skills by focusing on the following areas:

Continuous Learning: It is important for managers to stay updated on industry trends and the best practices of leadership. This allows them to adapt to changing market conditions and evolving team dynamics.

Effective Communication: Developing strong communication and interpersonal skills helps managers to clearly convey their vision and expectations.

Empathy: Understanding and empathising with the challenges and needs of team members promotes a positive and supportive work environment.

Adaptability: Sales managers need to be adaptable and able to adjust strategies based on market dynamics and team feedback. This includes being able to pivot when necessary.

Creating Incentivising Opportunities for Your Sales Team

To effectively motivate your sales team, consider the following strategies:

  • Set Clear and Attainable Goals: Define specific, measurable targets that your sales professionals can understand and work towards.
  • Offer a Variety of Incentives: Provide different types of rewards, such as monetary bonuses, extra vacation days, or career advancement opportunities, as different people are motivated by different things.
  • Regularly Review and Adjust Incentive Plans: Keep your incentive programs up to date by reviewing and making necessary adjustments to ensure they remain competitive and relevant.
  • Encourage Friendly Competition: Foster a sense of excitement and drive among team members by organising contests or leaderboards.
  • Tailor Incentives to Individual Preferences: Understand your team members’ preferences and customise incentives based on their needs, whether it’s cash bonuses, public recognition, or additional responsibilities.
  • Invest in Training and Skill Development: Support the professional growth of your sales team by providing access to training programs, workshops, or certifications to enhance their skills and marketability.
  • Implement Tiered Incentive Programs: Gradually increase rewards for higher performance levels to encourage continuous improvement and motivate sales professionals to reach higher targets.
  • Regularly Communicate Progress: Keep your sales team informed about their progress towards incentive goals through frequent updates and celebrate milestones along the way.
  • Seek Feedback: Encourage your sales team to share their insights and suggestions to help you fine-tune and improve incentive programs over time.
  • Monitor and Measure Performance: Use key performance indicators (KPIs) to track the effectiveness of your incentive programs and make data-driven adjustments to maximise results.

Creating a Positive and High-Performance Sales Culture

Building a positive and high-performing sales culture is crucial for the success of any organisation. A strong alignment of values serves as the foundation of this culture, fostering unity and a shared purpose within the team. The organisation’s values should resonate with the sales team’s goals and expectations, boosting their motivation.

Inclusivity plays a vital role in creating a positive sales and marketing culture. By embracing diversity, fresh perspectives, and unique ideas are encouraged, igniting creativity and innovation. This inclusive environment ensures that every team member feels valued and heard, ultimately improving morale and performance.

Recognising and celebrating success, no matter how big or small, is key to maintaining a high-performing sales culture. Acknowledging milestones and accomplishments, even the smallest ones, instils a sense of achievement and motivation in team members. It highlights the progress made by the team, providing the necessary morale boost for further achievements.

Lastly, fostering a culture of open communication is crucial for a thriving sales team. Sales professionals should feel comfortable expressing their thoughts and concerns, and there should be channels available for them to provide and receive feedback. Open communication enables continuous improvement for both the team and the organisation as a whole.

Conclusion

Recruiting, goal setting, and leadership are crucial for sales organisations. Effective recruiting brings in skilled and motivated individuals. Clear and achievable goals provide a roadmap for success. Strong leadership inspires teams, provides support, and fosters a culture of success. Together, these elements drive success in sales organisations.

Are you interested in starting a career in this field? Or are you looking for a sales and marketing management program to enhance your skills?

Imarticus Learning is the perfect place for you!

The Executive Management Programme in Sales & Marketing Leadership, in collaboration with IIM Lucknow, is designed for ambitious professionals who have strong managerial skills and aspire to become business leaders. This program helps participants improve their leadership abilities and navigate organisations effectively. The IIML sales leadership program uses experiential learning methods, including case studies and simulations from renowned institutions like Wharton Interactive, StratX, and Imarticus Game Studio. The program focuses on developing a deep understanding of sales and marketing, strategic thinking, effective people management, and execution skills.

Ready to get started? Contact us today!

Pricing Strategies and Decisions: What is Dynamic Adaptive Pricing?

Posted on by Imarticus Learning

The COVID-19 pandemic has disrupted the global economy and created a highly volatile environment where the revenues of some industries are declining, and surging for others. In such a situation, businesses are having a hard time keeping a tab on costs and their capacity to cope with fluctuating market demands.

It is here that dynamic pricing strategy becomes relevant, because it makes use of multiple price tabs for a product, depending upon a number of factors, but mostly supply and demand. In this article, we will discuss more about dynamic pricing, its types and its implementation in industries. We will also talk about how you can master dynamic pricing and become a Chief Business Officer in a reputed firm.

What is Dynamic Adaptive Pricing?

As mentioned above, dynamic pricing is flexible and is set according to the demands of the market and other crucial information about consumers. On the other hand, adaptive pricing is about adjusting the price to meet certain demands in order to make a profit even at the time of less demand.

While the definitions might seem largely similar, the difference lies in the fact that adaptive pricing is broader in scope and the fixed pricing may change only at certain times as opposed to dynamic pricing where the pricings can change any number of times, and are slightly volatile. Combining the two leads to dynamic adaptive pricing, that is, adjusting prices as flexibly as possible, to ensure maximum profit at all times.

Types of Dynamic Adaptive Pricing

The absence of legal implications surrounding dynamic adaptive pricing has led to multiple businesses adopting this pricing strategy, bringing out several varieties and methods of marking the prices. Some of these have been listed below:

●  Group-oriented Dynamic Adaptive Pricing

As the name itself indicates, this kind of pricing strategy is implemented differently for different groups, the differentiating factors being the nature of the device used, location, and demographic data. Some targeted demographic groups, such as public workers and senior citizens are also offered discounts on some products. Price sensitivity becomes a crucial factor here, and consequently, promotional offers are given based on price elasticity. For instance, the price of a commodity searched from an expensive smartphone at a high-end location will be marked at a much higher rate.

●      Time-based Dynamic Adaptive Pricing

Much wider in scope than group-based dynamic adaptive pricing, this pricing method increases or decreases in scope with respect to time and demand. In industries where the demand for a product or service fluctuates throughout the day, the prices can vary accordingly. However, the demand can be controlled by the companies by offering incentives to encourage interest in a product, such as lowering the cab fares for hire services at night or offering discounts on obsolete, or last-season stocks to clear them out.

●      Cost-plus Dynamic Adaptive Pricing

When a business adopts a cost-plus pricing method, it sells the commodity for a higher price than the original unit cost. One of the most common pricing strategies, it has been tried and tested and proven to be easily implemented and effective as well. One simply needs to add their desired profit margin to the cost price to determine the selling price in this method. Manufacturing industries heavily rely on cost-plus dynamic adaptive pricing because the cost for the produced goods usually has a fixed rate, making it easier for them to decide the revenue rate.

●      Competitor-based Dynamic Adaptive Pricing

In this kind of costing strategy, businesses mark the price of a product or service depending upon its competitive market value, that is, what the competitors are charging for the same product. Any kind of marketing competition can fall under the ambit of this dynamic adaptive pricing strategy, from product design to targeting niches with low competition.

●      Value-based Dynamic Adaptive Pricing

Also known as price elasticity, this pricing strategy depends upon the customer’s perception of the commodity’s worth. It can be called “customer-based pricing” as well because the final markup of the product or service is based on how much the target consumer base is willing to spend for the said product. It gives the seller an external perspective on the market and helps establish trust with customers through constant communication with them.

●      Price Skimming

Price skimming is a kind of dynamic adaptive pricing method that charges the highest price acceptable in the market, also known as “maximum product entry price”, and then gradually decreases the price over time. It is called skimming because in this strategy, the seller “skims” off the topmost market segment of the target customer base, meeting their requirements while also making a maximum profit in the very beginning. Once the highest strata of buyers have been secured, the company can now penetrate the lower rungs of the customer base, especially the ones looking for budget-friendly products.

●      Bundle Pricing

In the bundle pricing strategy, as the name suggests, the seller categorises the products into groups based on a specific factor, and sells the entire group for a fixed price. A very popular strategy for retail stores and e-commerce sites, bundle pricing not only offers a higher value for the price but also boosts the sales of the products.

●      Penetration Pricing

As the name suggests, this kind of dynamic adaptive pricing strategy is adopted by companies trying to enter highly competitive markets and gain a foothold there. It is primarily an acquisition strategy that companies use to lure customers away from their competitors by offering to sell at much lower than the usual market price, thus gaining a substantial market share.

Some Instances of Dynamic Adaptive Pricing

Ride-Sharing Services: In the app cab services, the prices might have a fixed rate, but they also vary according to weather and rush hours. Companies often make profits from these environmental conditions or special slots.

Flights: While flights usually have a few restricted price points, dynamic pricing strategy is adopted for flights booked at the last moment.

Hotels and Bed and Breakfasts(BnBs): More revenue is generated by the hospitality industry when they use dynamic adaptive pricing during busy seasons, especially during holidays and around events.

E-commerce shops: Many e-commerce companies spontaneously adjust their prices in order to gain an edge over their rivals, stay afloat during certain seasons, or respond to market rates. 

Conclusion

Learning how to accurately implement dynamic adaptive pricing is a major skill one has to master in order to become a Chief Business Officer (CBO). To get hands-on training in pricing strategies, and other such marketing and sales strategies, join Imarticus Learning’s Executive Management Programme in Sales and Marketing Leadership, offered in collaboration with the Indian Institute of Management, Lucknow.

This cutting-edge sales and marketing leadership program is known for its next-gen CBO-oriented framework, exclusive masterclasses and on-campus networking prospects. Sign up for the course by clicking on the link provided and achieve your dreams of being a CBO in only 11 months!

7 Inspiring Reads to Become an Impactful Marketing Leader

Posted on by Imarticus Learning

Reading can open up new avenues and foster growth and innovative thinking, especially for marketers set to create ripples in the marketing world.

Take up marketing leadership courses today to accelerate your marketing journey! We have curated a list of seven best-sellers that offer insight into the different marketing strategies exhibiting how the marketing industry works. Keep reading to learn more.

Epic Content Marketing: How to Tell a Different Story, Break Through the Clutter, and Win More Customers by Marketing Less by Joe Pulizzi

best sales and marketing course from iim lucknow

‘Epic Content Marketing’ talks about the most happening marketing trends of the time. Joe Pulizzi’s book shares some of the most talked-about marketing briefs in the industry. His main motives remain the same —tell others about being a successful content marketer, share practical tips, and initiate practical actions. The writer argues that the essence of marketing lies in applying strategies thoroughly, thereby transforming the current scenario.

Key Observations

  • Offers actionable strategies for attracting customers
  • Talks about a wide range of subjects ranging from blog posts to social media
  • Elaborates case studies and examples from successful brands

Permission Marketing: Turning Strangers Into Friends And Friends Into Customers by Seth Godin

Written by Seth Godin in 1999, this book remains a classic and highly sought-after guide for digital marketing. When looking for instant guidance on how to become a marketing leader, this is the bible. It explores building long-lasting relationships with customers by asking for their permission to sell products and services to them.

Key Observations

  • Modern ways of approaching clients
  • Focuses on earning the trust of the customers in retaining them
  • Mentions different marketing mediums like websites, and in-person interactions

Selling the Invisible: A Field Guide to Modern Marketing by Harry Beckwith

‘Selling the Invisible’ emphasises the popular marketing strategies in the service industry, ranging from emotional elements to more solid perspectives needed to sell a particular product. The book also offers practical tips on using invisible services to stand out.

Key Observations

  • Teaches a strong brand identity
  • Utilise storytelling to build an emotional connection with the client
  • Suggests introducing the value in the product apart from the benefits

Social Media ROI by Olivier Blanchard

Olivier Blanchard, an expert in social media return on investment (ROI), talks about the most sought-after aspects of social media marketing. Through his book, he carefully explains that ROI isn’t merely about financial returns but also about the value of social media activities. Blanchard maintains that one can achieve it by using the right metrics and aligning social media accordingly.

Key Observations

  • Measuring ROI is vital to any social media campaign
  • Social media and business objectives go hand-in-hand
  • All activities, including customer service, sales and strategies, work towards an ROI

The Anatomy of Buzz by Emanuel Rosen

‘The Anatomy of Buzz’ explains the benefits of buzz marketing in controlling successful marketing campaigns. One can become a marketing leader by exercising a few tenets in this book, like capturing customers’ attention through certain buzzwords. This word-of-mouth campaign works wonders when employed in a specific manner.

Key Observations

  • Real-life examples and case studies
  • Importance of influencers in enhancing buzzwords
  • Provides helpful strategies for businesses

Influence: The Psychology of Persuasion by Robert B. Cialdini

Cialdini’s book emphasises social media’s influence in building individual behaviour. He says social media significantly influences mass behaviour, compelling them to purchase a product or service. He also highlights six principles of persuasion, namely reciprocity, scarcity, authority, liking, consistency, and consensus, which play a vital role in persuading potential buyers.

Key Observations

  • Focuses on human behaviour and psychology behind purchasing activities
  • Offers insight into influencing people’s behaviour based on multiple principles
  • Highlights the strengths and weaknesses behind active persuasion

The Brand Flip by Marty Neumeier

In ‘The Brand Flip’, Neumeier discusses the changing dynamics of brand marketing and management. In the digital age, Neumeier says, the evolving dynamics result from the change in control and consistency, which are ever-changing. In saying so, Neumeier introduces the concept of “brand flip”, which brings forth several changes to the existing campaign.

Key Observations

  • Talks against traditional marketing campaigns and instilling modern approaches instead
  • Importance of being original and transparent in the modern era
  • Focuses on shifting power dynamics between companies and customers

Conclusion

With changing times, new techniques and tools evolve to influence a marketing campaign. These seven inspiring reads allow users to make informed decisions regarding their companies and services. From understanding customer behaviour to mastering flawless communication, these books cover every possible aspect of marketing.

Take digital marketing leadership courses to establish a successful sales and marketing career. If you’re looking for a more hands-on approach to marketing, enrol in the Executive Management Programme In Sales & Marketing Leadership by Imarticus. This programme will equip you with the latest developments in the marketing world and boost your learning experience. 

Top 10 Inspirational Marketing Leaders to Learn From

Posted on by Imarticus Learning

Global marketing leaders succeed in the industry by devising innovative theories and performing marketing experiments, as there is no universal secret to acing this profession. As a marketing leader, keeping up with the latest trends is imperative. A sales and marketing leadership program may help one learn the ropes in this field.

best sales and marketing course

Learn about the top 10 most influential and inspirational marketing leaders to motivate yourself to work harder in achieving marketing success. 

Top 10 Inspirational and Influential Marketing Leaders

The only common thing among these top marketing leaders is their love for learning and indulging in new things. The following are the most popular marketing leaders:

1. Nemanja Zivkovic

Founder and CEO of Funky Marketing

Nemanja Zivkovic has developed unique ways and strategies of conducting B2B marketing activities which have grown popular and proven immensely effective in today’s marketing world. According to Nemanja’s ideology, the best way to keep up the marketing game is to rethink, refocus, and revive current marketing techniques constantly. 

2. Sydni Craig-Hart

Inclusive Marketing Strategist

Sydni Craig-Hart is a big name in the marketing industry as she helps big and multinational corporations connect with small businesses, minority-owned businesses, women-owned businesses, etc. She is an Inclusive Marketing Strategist who helps product designers and marketers devise ways of connecting deeply with such businesses.

3. Bozoma Saint John

CMO at Netflix

Bozama has worked with renowned companies like PepsiCo and CPG Giant, Apple Music, Uber, etc. Impressed with her track record, Bozama was appointed as the CMO of Netflix in June 2020. Her marketing strategies, especially at the time of the coronavirus pandemic, were successful in creating a huge customer base for Netflix. 

4. Lola Bakare

Founder, CMO Advisor and Inclusive Marketing Strategist of be/co

Lola Bakare is a well-known face in the world of marketing and advertising. She is the founder, CMO Advisor of be/co and a talented Inclusive Marketing Strategist. Her powerful writing has created an impact and has been featured in Business Insider, Marketing Brew, Adweek and HBR. She has popularly collaborated with famous organisations such as PepsiCo and Dell.

5. Michael Barber

Freelance Marketing Strategist and Brand Consultant

Michael Barber has impacted all marketing spheres, including agencies, colleges and famous companies like Johnson & Johnson. Michael is a popular marketing consultant who can build elite teams that generate unique and unforgettable client experiences. He is also an energetic and entertaining keynote speaker with incredible ability and knowledge as a brand consultant.

6. Mayur Gupta

CMO at Kraken Digital Asset Exchange

Mayur Gupta is an engineer-turned-marketing leader regarded as an all-rounder. His unique perspective and marketing skill set have allowed him to become a CMO at a young age. He has used data science and brand marketing excellence to leverage companies like Spotify, Kimberly Clark, Freshly, etc. Mayur has also been listed in Forbes’s Top 50 Most Influential CMOs.

7. Jacquie Chakirelis

Director of Digital Media at Cleveland Magazine and Quest Digital

Jacquie Chakirelis has emerged as a notable marketer in digital media, and she has touched various facets of the marketing world with her depth of experience. She possesses immense knowledge of GTM strategies, value positioning, content marketing and audience development. Her impact is visible in the actionable insights recognised after implementing Jacquie’s marketing strategies. She was also invited as a speaker at the recent Content Marketing World.

8. Beverly Jackson

Vice President Global Brand and Consumer Marketing at Twitter

Beverly has extensive experience working at institutions like Grammy and Yahoo. Currently the Vice President of Global Brand and Consumer Marketing at Twitter, she possesses dynamic qualities that help maintain and produce high-performance marketing results. She develops new and innovative ways of digital marketing to build a large community and drive brand loyalty.

9. Stacey Danheiser

Founder and CMO of SHAKE Marketing

Stacey is a master planner and developer of marketing strategies. With over 20 years of experience, Stacey focuses on preparing marketing strategies based on customer feedback reports, taking into account customer demands. 

10. Michelle Ngome

Founder of the African American Marketing Association

Michelle Ngome is a prominent voice in the field of diversity marketing. She is exceptionally creative and unique in her approaches to diversity marketing and has also created a DEI card game known as ‘Be Inclusive’. It is a short facilitation deck responsible for improving communication channels and increasing a sense of belonging in the marketing sphere. Ngome’s marketing approach emphasises increasing empathy and trust and building necessary people skills.

Conclusion

 A sales and marketing leadership program allows individuals to learn the various marketing strategies and techniques that can pave the way for new milestones in the marketing world. To become a successful marketing leader, consider signing up for the Executive Management Programme In Sales & Marketing Leadership, IIM Luknow by Imarticus. Take this course to accentuate your leadership skills and excel in marketing.

10 Things to Learn from Sales and Marketing Leaders

Posted on by Imarticus Learning

In the realm of business, sales and marketing, leaders play a pivotal role in driving success and growth. Their expertise, experience, and innovative approaches serve as a guiding light for aspiring professionals and entrepreneurs. Whether you’re looking to launch your venture, climb the corporate ladder, or simply enhance your skills, there is a wealth of knowledge to glean from these influential individuals. 

By analysing their strategies, understanding their mindset, and embracing their key principles, you can unlock valuable insights that will empower you to excel in the dynamic world of sales and marketing. 

In this article, we will explore some essential lessons that can be learned from visionary leaders and sales and marketing leadership programs, ranging from the art of persuasion to data-driven decision-making.

Top 10 Things to Learn in Sales and Marketing

Sales and marketing skillsets come with invaluable expertise and experience that can inspire and guide professionals in this field. Here are some valuable lessons that everyone in sales and marketing should be familiar with:

  • Know the buyer

The key to successful sales lies in comprehending the buyer’s needs, but it encompasses more than mere identification of the buyer. It involves recognising the specific experience the buyer desires while contemplating a purchase within your market. With a deep understanding of the experience the buyer seeks, you can surpass them effectively. 

  • Sell in a buyer-responsive manner

By comprehending the buyer, salespeople can engage in buyer-responsive selling, offering what they desire when they desire it. For instance, if a buyer requires a brief trial to evaluate a product, provide a hassle-free, user-friendly free trial that demonstrates its value within a few minutes or less.

  • Work smarter, not harder

In the world of sales, working smarter, not harder, is a key to live by. You can tap into the power of technology and leverage various apps and resources available to simplify your life. You can also optimise your daily routine by delegating mundane tasks to efficient tools and utilising them at their best.  

  • Communicate succinctly

The presentation of information holds greater significance for buyers than the information itself. A valuable guideline to follow is to communicate a broad length of information within a few words. Adhering to this rule ensures that your message remains focused, concise, and impactful. This approach lets you capture the buyer’s attention effectively, maintain clarity in your communication, and leave a memorable impression. 

  • Demonstrate subject matter expertise

Salespeople must grasp the buyer’s needs, challenges, and desires during the purchasing journey. They require in-depth knowledge of their product or service and the industry. Demonstrating subject matter expertise involves staying updated on industry developments, conducting thorough research, and staying abreast of emerging trends. By being well-versed in their field, salespeople can effectively address customer questions, provide insightful recommendations, and offer tailored solutions.

  • The art of persuasion

Learning ethical persuasion is invaluable in all aspects of life. Striking a balance between pushiness and persuasion is a skill effective leaders deeply possess and exhibit in all spheres of life. Understand client needs, showcase product value, and empower prospects to make informed decisions.

  • Become great copywriters

Becoming a skilled copywriter is another valuable asset for sales professionals. Effective copywriting allows salespeople to craft compelling messages that resonate with their target audience, elicit emotions, and drive action. By becoming great copywriters, sales professionals can create persuasive content that captures attention, establishes credibility, and boosts sales performance.

  • Be socially active with target buyers

Social media has revolutionised sales, giving birth to social selling. Engaging on platforms like Facebook, Twitter, and LinkedIn is now considered a valuable sales skill. Top salespeople leverage tactics like hosting buyer dinners to build relationships, focusing on connection rather than direct selling.

  • Personalised interactions

Buyers seek personalised messages, not generic pitches. Tailor your sales efforts by incorporating buyer-specific demographics, such as industry examples in B2B or age/gender considerations in consumer sales. Referencing recent events in their personal or professional life enhances personalisation and fosters meaningful interactions.

  • Dealing with rejection

Sales provide essential lessons on navigating rejection and cultivating resilience that extend beyond the professional realm. Letting go and mastering sales objections build psychological skills applicable to various life situations. Developing a thick skin enables handling rude responses and focusing on broader goals. Aspirants hoping to pursue leadership roles are highly suggested to hone this skill. 

Conclusion

In conclusion, mastering the above skills is crucial for sales and marketing professionals aiming to excel in their field. Understanding the buyer, leveraging technology, personalising communications, and demonstrating subject matter expertise are key components of successful sales and marketing strategies that many leaders have implemented and reaped value from. 

To further enhance your sales and marketing leadership abilities, explore specialised courses like the Sales & Marketing Leadership program offered by Imarticus. This program equips aspirants with advanced knowledge, practical skills, and industry insights to thrive in the dynamic world of sales and marketing.

What are Pricing Models and Why Do They Matter?

Posted on by Imarticus Learning

Pricing models serve as an easy way to analyse market data where you can apply its outcomes in the decision-making processes. Marketing leaders determine product pricing strategies by using business pricing models that can illustrate and provide appropriate predictions of different pricing effects on different market conditions.

A pricing model is a theoretically acclaimed method that helps in standardising the product prices or service rates of a business based on deriving a result that stands in the best interest of the company’s growth and profitability. These models are generated by attaining an accurate understanding of a business and the key factors that affect its workflow. You can gain a better understanding of pricing models by joining a sales and marketing leadership program.

What is a Pricing Model?

A pricing model refers to the different methods used by marketers and organisation leaders to generate the correct price limit for their products or services. These models are created after considering numerous substantial factors that impact the profitability of a business, like:

  • The cost price of the products or the maintenance costs of a service
  • Customer feedback of the products including the consumer’s perception of the service and its value
  • Type of the business and its workflow, which can vary from personal services to retail goods. 

A successful pricing model can help a business maximise revenue generation, while the strategies behind the model can keep changing over time and might vary from one product or service or another. You can become a Chief Business Officer if you want to work in marketing and learn more about pricing and other business strategies.

Types of Pricing Models

In general, there are four pricing approaches that are used by brands to establish an appropriate price limit for their services or products, namely:

  • Cost-based pricing models
  • Value-based pricing frameworks
  • Competitive pricing models
  • Dynamic pricing

The different strategies in pricing emphasise different sections of a business model by choosing separate pricing models for different services or products. The seven most commonly used pricing models can be enlisted as follows:

  • Cost Plus Pricing: It is relatively simpler when you calculate the total cost and this model has powerful outcomes. 
  • Value-Pricing Models: It analyses customer feedback and measures the value of the products accordingly.
  • Hourly Pricing Models: This method is primarily used in services rather than products, and typically requires more documentation than the other methods. 
  • Fixed Pricing: It involves setting a fixed price for a time period or individual contracts. 
  • Equity Pricing: This model depends on accepting equity or stocks for the business.
  • Performance-Based Pricing: It relies on the performance of the service or the product to determine its pricing standards. 
  • Retainer Pricing Models: It is a planning model that fixes the price through discussion with the customers before starting with the service. 

Importance of Pricing in Business Models

Pricing models are used to compete with fellow organisations, improve the market shares of a business and create new forms of gaining revenue. They can be used by different sectors of business marketers, ranging from branded organisations to small start-ups. Primary factors that present the importance of using pricing models in businesses can be categorised into five sections.

Profit Margins

Pre-established pricing ranges can directly affect the profit margin of a business, where higher prices generate higher profit margins per unit. However, placing illogically high pricing limits can lead to lower volumes in sales followed by a complete wipeout of the profit. 

Sales Volumes 

Pricing models have an obvious impact on the sales volumes of a business. Considering the effects of price elasticity, an increase in price might cause a momentary fall in sale volumes, which gets balanced with overall high-profit margins due to higher prices. A sudden reduction in the prices can similarly increase sales, but the profit margin depends on its consistency and proportions.

Positioning the Business 

The pricing models help consumers to develop an overview of the business by creating a perceived value of its services or products. It affects the brand value and market image of the business, where high pricing denotes a higher quality. Offering sales and discounts can send out bargain and sale invitations to the customers, while rebates and closeouts might convey a message of poor sale volumes. 

Competing with Shares in Marketing

The prices set by a business directly affect its marketing position by generating competition from fellow organisations and impacting its share volumes in the market. 

Building a Customer Base 

Pricing models of a business assist in framing its consumer base, where loyal customers with long-term business relations might evolve through appropriate price ranges. 

Factors to Consider while Dealing with the Price Model Levels

There are a few aspects to consider while framing a business pricing model, such as

  • Offerable plans or features for the consumers
  • Relation between pricing models and the target audience 
  • Pricing per unit including different costing rates for different services or products
  • Determining the quantity and pricing value of giveaways or discounts
  • Customer expectations and behaviour 
  • Perception of price and quality also determines the expenditure 
  • Availability of alternatives to compete
  • The differentiators in the business model

If you find passion in learning about business models, you can participate in a sales and marketing leadership program to expand your knowledge and skills.

Common Challenges of Introducing a New Price Model

Designing a pricing model needs to be data-driven, understandable, accurate in prioritising the important aspects and precise in aligning the business to generate profitable outcomes. Some of the commonly faced challenges while generating a pricing model are: 

  • Pressure of customer reaction to changes in pricing and business alignment
  • Innovating the value sources might create new delivery systems and alter the pricing. 
  • Changes in the expenditure and management models of a business are caused by supporting product-based growth. 
  • Data access to new pricing models has a better insight, creating immediate alerts on productivity issues that affect the workflow.

Conclusion

Pricing models are important in strategising businesses since it allows you to define the business valuation. It evaluates the pricing ranges creating positive engagement with the customers. The pricing model of a company reflects its cost, competition in the market and brand value. It also initiates planned growth and improves the profitability of the business. 

You can become a Chief Business Officer by joining the executive program in sales and marketing leadership offered by Imarticus, where you can learn more about pricing models and business strategies. 

The Role of Data Analytics in Sales and Marketing

Posted on by Imarticus Learning

Sales and marketing are two of the most important skills recommended by experts and affluent business persons worldwide due to their close linkage with the art of persuasion. The art of persuasion is the main headliner for two of the mentioned careers, and better persuaders often become exceptional sales and marketing professionals. 

Even with hundreds and thousands of new entrants every year, the industry seems to get hungrier by generating more demand. Apart from understanding the dynamics of persuasion, marketing leadership courses often promote the recruitment to read and understand data, another integral part that determines one’s success. While persuasion can be polished, great marketers and thought leaders earn most of their success from being able to read data and predict patterns. 

This blog highlights the close relation of big data and how it plays a pivotal role in determining the success of a renowned marketer or sales professional.

Shifting From Assumptions to Insights

After the digital transformation, the world of sales and marketing witnessed a transformative shift in the last few decades. One of the most sought-after traditional approaches included making educational guesses on the market trend, customer preference, and hoping for success. 

However, with the implementation of data, businesses and marketers worldwide have seen more success across several marketing campaigns. Further, to cement the importance of big data in the current marketing spectrum and ongoing marketing leadership courses, McKinsey conducted several types of research for the same. Per their research, companies that rely on big data are 5-6% more profitable while further enjoying a 15-20% higher return on investment. 

Such research from reputable sources emphasises the role of big data, with the premium institute acknowledging the same and making the needful changes in their marketing leadership courses. 

Role in Optimising Marketing Success

Any action taken by an individual is stored on the word wide Web in a data format. Per the estimates, the current data garage surpasses 64.2 zettabytes in 2020, which is forecasted to increase to around 180 zettabytes by 2025. Everyone can access most information, and these data mainly depict the online action of certain users, groups, or demographic. 

Data are reference points which allow marketers and sales professionals to generate insights for their future or ongoing campaigns. When focusing on selling a particular product or service to a target group, marketers can collect, read and interpret the relevant data pertinent to that specific group. It allows such professionals to create extremely relevant campaigns and content, which ensures exceptional results. It further highlights the requirement for data analytics in a sales and marketing leadership program. 

Enhancing Sales Performance Through Big Data

The use of big data is similarly relevant and important in the sales industry but in a different way. Primarily, well-poised sales professionals are great at objection handling, coupled with persuasion. Big data acts as a cheat code for such individuals, sales professionals can identify such objections, allowing them to prepare beforehand. 

As a headliner, objection handling and using big data to identify and overcome such objections is one of the major subjects, the IIM sales and marketing course focuses on. Furthermore, most of the sales and marketing leadership programs teach this crucial skill.  

Predicting Success

Most of the optimisation is done during a campaign, but big data also applies in accepting or rejecting an idea. This idea can be a product, a campaign, or an online event. Deriving crucial insights from the existing data stores is working incrementally well for such professionals worldwide. 

Furthermore, identifying trends, behavioural patterns, and in-demand products through the accurate interpretation of big data further cements success beforehand. Owing to such insights, marketers are also being able to create hybrid-product combinations, which allows them to serve their customers at a higher level and earn more profit from a single transaction. 

Conclusion

Ensuring a higher success rate, students of different marketing leadership courses are expected to be able to extract, understand and implement the insights gained from big data in their future campaigns. 

As an extremely lucrative field, professionals who can read and interpret data are more likely to succeed in their marketing campaigns when compared to their non-data-savvy peers. Therefore, it is of utmost importance for aspiring students to only consider a sales and marketing leadership program where they can actively learn to use big data. Imarticus offers one such program, which is the Executive Management Programme In Sales & Marketing Leadership, provided under the guidance of IIM Lucknow.

Enrol now to kickstart your journey towards a highly rewarding career in sales and leadership!

A Guide to Customer Funnelling and Consumer Journey

Posted on by Imarticus Learning

The customer funnel depicts a customer’s entire path, from initial awareness and interest to consideration and conversion. It extends beyond the purchase stage, encompassing ongoing engagement and advocacy. 

A sales & marketing leadership programme can help aspirants learn the basics of the customer journey and how to use customer funnelling to nurture leads and close deals.

Advantages of Customer Funnelling

  • Simple and clear understanding: The customer funnel is a simple concept that can be effectively tracked. It provides a straightforward visual representation of the customer journey.
  • Attracting a broad audience: It helps draw the attention of a large number of people to your company. As prospects progress through the stages, qualified leads are generated.
  • Building target groups: It enables the gradual formation of target groups, starting with a broad audience. It filters out less interested individuals, leaving those with a higher potential for conversion.
  • Tailored marketing: It guides marketers in tailoring their efforts to specific target groups. Addressing each segment’s unique needs and preferences enhances the overall effectiveness of marketing campaigns.

Consumer Journey

A client or consumer journey refers to interactions, offers, and channels guiding prospects or clients through your product/service range.

It can vary in duration depending on the complexity of your offerings. Some journeys may be brief, while others may be more extensive due to multiple product options or service levels.

The consumer journey involves:

  • Funnelling: Creating structured pathways guiding prospects towards specific actions or conversions.
  • Email communication: Using personalised and targeted email campaigns for nurturing and maintaining ongoing communication.
  • Text messages: Engaging prospects and clients through direct and timely text messaging platforms.
  • Voicemails: Leave thoughtful voicemails to follow up and provide additional information or offers.
  • Website presence: Establish an informative and interactive website, a central hub for prospects to explore your offerings.

Essential Stages of the Consumer Journey

Let’s explore the consumer journey stages through an example of someone looking to buy a new smartphone:

1. Awareness

The individual realises their current smartphone is outdated and doesn’t meet their needs anymore. They search for the latest smartphone models online and read reviews and articles about top brands and features.

2. Consideration

They narrowed their choices to two leading smartphone brands following extensive research. They compare each model’s specifications, prices, and customer feedback to make an informed decision.

3. Decision

The person purchases the smartphone from Brand X due to its excellent camera features, positive customer reviews, and a limited-time discount offer.

4. Retention

After using the smartphone for a few weeks, the individual receives personalised emails from the brand, offering tips on optimising the device’s performance and exclusive access to new software updates. It enhances their overall experience and loyalty to Brand X.

5. Advocacy

Impressed with the smartphone’s performance, the person shares their positive experience on social media, recommending the product to their followers. One of their friends sees the post and asks for a direct link to purchase the same smartphone.

The example shows how a consumer progresses through the journey stages, from becoming aware of the need to purchase, examining possibilities and finally becoming an advocate for the company.

How to Improve the Consumer Journey?

Sustaining successful marketing outcomes requires continuous optimisation to meet evolving consumer expectations.

Regularly reviewing and refining your consumer journey is essential to ensure a seamless and satisfying experience.

Here are the key stages to focus on:

Stage 1: Reach

Effectively target your audience by leveraging customer data, including voluntarily shared zero-party data.

Create audience personas for targeted ads on platforms like Google and social media. 

You’ll build a more robust and engaged contact list by reaching the right people. Remember to collect only necessary data and avoid gathering unnecessary information.

Stage 2: Acquisition

Prevent customer loss by avoiding irrelevant messaging to newly acquired customers. Impersonal and generic email marketing can lead to a high customer unsubscribe rate.

Instead, ask customers about their preferences or offer a self-service content model for topic selection. Maintain customers’ trust in your brand by avoiding irrelevant messages.

Stage 3: Conversion

The conversion stage is where marketing and customer service converge. Collaborate between departments to ensure a smooth customer experience.

Implement channels like live chat to remove obstacles to purchasing and gather valuable data. Identify areas for website improvement and address frequently asked questions.

Use consumer data to create post-chat email automation, enhancing overall experiences and fostering robust and enduring customer relationships.

Stage 4: Retention

Leverage consumer data for personalisation during the post-purchase phase. Focus on collecting data that enables tailored product recommendations and content to keep customers engaged and retained.

Combine consumer interests, purchase history, and segmentation techniques like eRFM or lead scoring to create unique pathways for highly targeted customer segments.

Personalise marketing messages and offers based on customer data to drive relevance and conversions and cultivate consumer loyalty.

Stage 5: Loyalty

The loyalty stage aims to make consumers feel valued and deepen their connection with your brand.

Optimise earlier stages of the consumer journey to establish trust and demonstrate commitment to responsible data usage and privacy.

Invite loyal customers to participate in review panels or join loyalty programmes, encouraging a more vital investment in your brand.

This approach increases the likelihood of customers choosing your brand over competitors.

Customer Funnel vs Consumer Journey

Some of the primary differences between the two are:

Customer Funnel Consumer Journey
Definition A marketing model outlining the steps customers take to make a purchase decision and become a customer. A holistic view of a consumer’s entire experience with a brand, from the initial awareness stage to post-purchase interactions.
Focus Acquiring new customers and guiding them towards making a purchase. Understanding and enhancing the overall consumer experience and fostering long-term relationships.
Scope Limited to the stages leading up to a customer’s purchase decision. Encompasses all touchpoints and interactions throughout the customer’s relationship with the brand, including the pre-and post-purchase stages.
Goal Conversion of leads into customers. Building loyalty, customer retention, and advocacy.
Marketing Focus Attracting and converting potential customers. Creating a seamless and positive experience at each touchpoint, from discovery to advocacy.
Importance Essential for lead generation and sales. Crucial for building strong customer relationships and fostering brand loyalty.

Conclusion

Understanding and effectively implementing customer funnelling and consumer journey strategies are crucial for driving business growth and success. Companies can enhance their sales and marketing performance by optimising the customer’s path from initial awareness to becoming loyal advocates.

Consider enrolling in Imarticus Learning’s Executive Management Programme in Sales & Marketing Leadership programme by IIM Lucknow to kickstart your career in the field. 

Visit Imarticus Learning for more information on the IIM L executive programme.

Top Indian Start-ups That Are Taking Over the World

Posted on by Imarticus Learning

India’s startup scene has been witnessing remarkable growth, with over 61,000 startups recognised as of January 2022, positioning it as the world’s third-largest startup ecosystem, closely following the US and China. The government’s ambitious initiative, Startup India, fuels this progress, which fosters a culture of entrepreneurship and encourages youth to become business leaders.

Paving the way for the younger generation, these startups offer enticing opportunities for individuals to work and gain valuable experience in their chosen domains. 

In this article, we will delve into the world of Indian startups, shedding light on ten trailblazing companies that have not only achieved billion-dollar valuations but continue to revolutionise industries with their ingenuity and vision. We will also offer a brief glance into the significance of IIM executive courses and how the right executive program in sales and marketing and skyrocket your career!

Top 10 Startups in India

Cred

Established in 2018, Cred is a Bangalore-based startup offering a unique platform for paying credit card bills and earning rewards. Valued at $2.2 billion, the 2-year-old company boasts over 6 million customers, targeting affluent clients and gaining significant attention.

BoAt

BoAt is an Indian-origin brand renowned for its top-notch audio devices and smartwatches. It has gained global recognition, securing a place among the top 5 audio system manufacturers due to its exceptional product performance and durability.

Nykaa

Nykaa is a prominent online beauty and fashion e-commerce platform offering wellness and beauty products at competitive prices. Falguni Nayar, a former investment banker, founded the platform, which has grown into a complex business. It was valued at $1.2 billion, raised $25 million in March 2020, had more than 5 million active users per month, and had more than 55 retail locations.

Zomato

Zomato is an online food delivery service startup founded in July 2008 by Deepinder Goyal and Pankaj Chaddah. Initially known as Foodiebay, the platform began when the founders noticed the challenges faced by employees in ordering food. Despite starting small in Mumbai and Kolkata, Zomato rapidly grew, and with their team’s dedication, they overcame the challenge of expanding nationwide. Today, Zomato boasts over 5000+ employees worldwide, making its success story truly remarkable.

Paytm

Paytm is an Indian business solution that provides an e-commerce platform to assist with financial services such as online payment. IFounded in 2010 by Vijay Shekhar Sharma, the platform boasts approximately 20 million active customers, solidifying its status as one of the top international fintech companies.

Meesho

Meesho, founded in 2015 by IIT-Delhi Graduates, is a reseller platform revolutionising e-commerce distribution by empowering homepreneurs to sell products via WhatsApp, Facebook, and Instagram. With a valuation of $2.1 billion, the company raised $300 million, attracting investors like Facebook. As an ecosystem for small businesses, Meesho facilitates online marketplace connections, logistics, order, and payment management. 

Groww

Groww is a Bangalore-based startup offering a user-friendly mobile app and web platform for investing. It aims to democratise investment for the commoner in India, attracting users from smaller cities who had not invested before. The company’s popularity also makes it one of the top startups to work for in India, as it plans to channel its revenue into new products and talent recruitment.

Razorpay

Razorpay is a full-stack financial solutions company based in Bangalore. With a user base of over 300 million, Razorpay aims to revolutionise money management for online businesses. Recognised by YCombinator in 2015, it secured funding of $120,000. Having left Microsoft and Schlumberger, the founders launched Razorpay with the help of startup oasis, addressing the need for a suitable payment system for companies accepting payments in India.

Swiggy

Swiggy, India’s leading food delivery platform, has become synonymous with convenience and satisfying cravings at home. Operating in 27 cities and partnering with over 40,000 restaurants, the Bangalore-based company recently raised $800 million in funding, valuing it at nearly $5 billion. With a target market of 50 million users, Swiggy’s rapid growth has earned it unicorn status, competing vigorously with established players.

Udaan

Established in 2016 by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta, Bangalore-based startup Udaan focuses on B2B industries, facilitating collaboration and networking between manufacturers, traders, retailers, and wholesalers. With major brands like Boat Lifestyle and ITC onboard, Udaan boasts over 3 million users in 900 Indian cities. Expanding into the B2C market with its app, Pickily, Udaan competes with brands like BigBasket and Swiggy, offering FMCG products to customers.

Conclusion

In conclusion, the Indian startup ecosystem is thriving, with several remarkable ventures leaving a significant impact. From tech giants like Zomato and Paytm to disruptors like Meesho and Groww, these startups exemplify innovation and vision. 

As the competition intensifies, these startups embrace challenges supported by strategic executive leadership. For professionals aspiring to lead and excel in this dynamic landscape, an Executive Programme in Sales & Marketing Leadership from Imarticus, under the guidance of IIM Lucknow, can equip them with the knowledge and skills to navigate the complexities and drive success in this exciting realm.