Forum: Marketing Forum
Speaker: Mr Sanjay Singh
Everyday is the key word for maximizing customer base says Sanjay Singh
Marketing Forum of Vidarbha Industries Association had organized a talk on “Double your Business in Difficult Times” by Mr Sanjay Singh, Founder of Strategic Concepts (India) Pvt. Ltd.
Mr Sanjay during his talk highlighted that, the algorithm of doubling your business follows a very mathematical logic. It is imperative for all Small and Medium Enterprises (SME) to understand this algorithm, especially for difficult times when the external business environment does not seem to be catalyzing organic growth.
During the talk, he mentioned that as far as the algorithm of doubling the number of customers is concerned, all new customer acquisition
rests on the basic effort to be able to maintain a MNOC (Min no of Calls/day) quotient for any sales team. The sales preparedness of the organisation, the ability of a sales organisation to close everyday as if it were the year ending and start everyday as if it was the first day in business sums up the ethos of a sales organisation. We are talking about an organisation, which treats its salespersons as brave soldiers who actually venture into enemy territory to acquire customers for the growth of our company.
He said that, if we were to hypothetically double our business, there are only two possible logical ways to do this i.e. either by Doubling the billing value of existing customers or by Doubling the number of existing customers by adding new customers
He further explained that in order to double the billing value of existing customers it is very important to understand the marketing concepts of Average Basket Value(ABV), Average Basket Size(ABS), Stickiness of customers, Lapsation of Customers, the phenomenon of “Basket Migration” of customers and RFM (Recency, Frequency, Monetary Value) of customers. He went on to explain these terms in details quoting examples.
He also suggested the ways to increase the customer base by using prospecting triangle, reference selling, cross selling, tele calling, email broadcast,whatsapp broadcast etc. He also said that one should follow Shivaji Maharaj’s technique for increasing the customer base. He also highlighted that advantage of properly handling complains at the complain desk.
Quoting examples, he further explained the difference between cross selling and up selling. He said that consistency is the key, i.e. Everyday is the key wo
rd for maximizing customer base. He said that in India there are lot of opportunities for selling your product but really needs to work everyday to generate leads, follow up, retain customers and achieve one’s sales target.
At the outset, Dr Suhas Buddhe, Hon. Secretary, VIA welcomed Mr Sanjay Singh with floral bouquet. Opening remarks were given by Mrs. Shilpa Agrawal, Chairperson, VIA Marketing Forum. The speaker was introduced by Ms. Shikha Khare, Convener, Marketing Forum while the vote of thanks was proposed by Dr. Hetal Gaglani, Co-Convener, VIA Marketing Forum. Akash Agrawal, Chairman, Entrepreneurship Forum was also present. This program received an overwhelming response and was attended by young entrepreneurs, students, businessman, retailers, Industrialists in large numb
Live from VIA with Mr. Sanjay Singh, India's celebrated Sales Coach who is delivering a session – Double Your Business In Difficult Times.
Posted by Vidarbha Industries Association on Wednesday, November 1, 2017
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