Somesh BhagatIncreasing sales through customer success
Bio

Increasing sales through customer success. Get my customer's customers to be more profitable. This helps make my customers more successful and helps me be more successful! B2B IT Enterprise Cloud sales and marketing, mainly.  Industry leader. Business and marketing strategist. Developer of leaders. Performance manager.  Currently business coach and consultant with Stanford GSB, Stanford Seed - for growing businesses.  And consulting practitioner and blogger. Successful in persuading customers to invest over 100 million dollars, annually, on IT productivity solutions thereby creating new revenue for organisation.  Work experience in global scale world leading organisations like Oracle and Microsoft, in India. Superior know how in communicating with widest range of C-level, across industries, across company sizes from enterprises to small and medium, and across technology solutions in software, platform, and infra clouds. Consulting clients range from McKinsey, Bain, and Goldman Sachs to small and medium growing organisations. Work includes business and marketing strategy, tech investment advise, sales closures, lead generation, sales training, turnarounds, and growth hyper scaling. Blessed to be able to give back some through extensive volunteer work. Golf! www.linkedin.com/in/SomeshBhagat www.twitter.com/SomeshBhagat



Recent Answers


In times of Covid, travel customer acquisition is going to be tough. Not sure if your business serves businesses or consumers or both.

An alternate business model has to be explored. One idea is, like everything going virtual, can travel also go virtual. This is virtual and augmented reality stuff. The other is to offer some other product to the current base of customers and try additional revenue streams, than go after new ones.

Timeframe of recovery for travel is uncertain. So preserve cash and reduce costs, and tide over to recovery.

One option also may be to explore a 'Covid-safe' travel...ensuring social distancing, sanitised travel, venues, and locales.

This is a tough time for such a business.

Let me know if you want to brain storm a strategy for your business.

All the best and stay safe.


Hi.

Do a SWOT of your business and it will help you get answers.

Also draw out scenarios in each case of business projections over 3-5 years and compare based on rates of returns, risk and investments etc. to decide.

Let me know if you need help to think through.

All the best.


Hi.

Decide based upon your business plan. What is your sales target for say next two years. What are the gaps. What is the best way and best product market fit to meet that gap.

Assess how many additional customers, opportunities and prospects you need, and which market.

Then get into marketing.

If your run rate will get you the number then focus on existing and visible potential customers. If your capacity to follow up is x then generate x amount of leads.

All the best.


Hi.

This depends upon your options and state of business. If business sustainability is an issue, then increasing sales is critical. In which case this is good advise! I have advised a few scenarios where if sales did not increase with urgency the business would have gone belly up.

At the same time investors have to learn to preserve the soul of the business. Normally founders are very good at it and it is the reason the business succeeds. If business is meeting the goals then you should have this flexibility. If not, then you have to bring the stakeholders together, and present and agree on a shared plan and vision. Also a process to resolve conflicts. This is also your key role. Collectively, you both have to decide in the interest of the business.

A conflict-less situation in business is non-existent. And there is a range of resolutions from resetting the relationship to picking the battles you fight.

Let me know if we should talk. All the best. Bye.


Hello.
An earlier answer of mine on similar subject may also be useful.

https://clarity.fm/questions/6349/answers/20321/share

TAM is a useless number here. What is more relevant is what is the immediate market size that you can operate in - say in the next 3-5 years - Total Capturable Market - TCM.

Right now my sense is for you to to create a value proposition or positioning, and then develop a prototype, validate with design thinking principles, define scope, develop MVP, get paying customers, and then execute per the plan recommended in the link above.

I think you are trying to jump from an idea and TAM to an MVP without going through the stepping stones to the same.

Hope this helps. Bye.


Hello.

I help increase sales through customer success. This mainly envisages sales, marketing, business strategy, and ensuring customer ROI.

PR or influencer marketing is nothing in itself but part of a business plan.

Where do you and your business want to go? What are the gaps? This should in my opinion determine what kind of brand building and activities you need.

Let me know if you need to talk this through.

Bye and all the best.


Hello.

I help increase sales through customer success.

Your company is in numerous areas. It is not clear in which area the business from US and Europe is coming from. And what is your unique edge why customers come to you. Also is the market large enough to be attractive and do you have strong ability to service that market.

The good thing is that you have large customers there and are able to provide products at high quality at competitive costs, and you focus on long term relationships. These are signs of a good business.

US and Europe are huge markets. You have to focus on specific areas, in sequence.

You have a number of answers to this question and they are valuable to follow.

In addition, my feeling is that you should focus on 1-2 areas, as opposed to over a dozen above, where you are strong, there is a large market, and you have a sustainable competitive edge.

You should make a business plan for above with revenue, cost, cash flow, and margin projections. It should also include a go to market plan that may include marketing strategy, collateral development, sales resources, channel plans, marketing campaigns, social media strategy, conferences, events et al.

It seems that you do a mix of project and contract manufacturing work. Typical order values, revenues, costs, and margins will help provide more clarity to questions as above.

If you send me some of this information, I can help refine this answer further.

Unless you sharpen your strategies, building sustainability will be tough, in my opinion.

Best wishes and Season's Greetings. Bye. - Somesh


Hello.

I help increase sales through customer success.

It should depend upon your business strategy, I feel.

Every business needs a competitive edge to be profitable, sustainably. What is yours? Is it product or is to go to market - just as an example.

If it is the product then the IP around it and fast turn around to design should be important. Can you attain this with contract device maker. If yes that may be fine. But if no, then decision is clearer. Normally it is tough to protect IP as more parties get involved.

If go to market is your competitive advantage, and not so much IP, then it may be wiser to go for contract and focus on your core skills.

I hope this helps.

All the best. Bye.


Hello.

I help increase sales through customer success.

The answer should relate to your business strategy and business objective of this campaign.

The first option is engaging and ideating while the second is asking for a trial. The first is at no cost while the second is purchase dependent.

If the travel package is innovative and new or launch then engagement is worthy objective too. If it is more in vogue then generating sales is more worthy.

It also depends upon what you define as return - is it engagement or is it purchase. Both can be legit objectives depending upon your business strategy, competition, and campaign objective.

My sense is to define your campaign objective, then re-define more cogent options, and then validate with your customers.

If it is a small campaign you can talk to a few prospects or customers on their preferences and take a more informed decision. If it is a large budget campaign then a proper A/B testing is better for the hypotheses.

I would be more comfortable making a recommendation here after following the thought process outlines above.

Hope this helps.

All the best.


Hi.

I help increase sales through customer success.

I think your videos are great. However the business strategy seems weak to me. At your home page there is not a clear value proposition. Your business does not say upfront what you do for your customers and what business objective they are looking for. And more importantly what you do different from others. (Price yes - but something else beyond as you seem to have some acute insights into creating value propositions through stories for your customers.)

Do you customer need help increase sales, trial, awareness, spur action, engagement etc, and how do you do this and how better than competition.

It is likely that you are a niche business. Normally cheaper is not a good strategy here. Plus someone can always do this cheaper than you can. It is very tough to stay profitable here unless you can charge a premium. It is possible that your business will or does struggle to get customers at good price and stay profitable, as it scales.

You say that markets that you serve are Chicago, New York, and LA. What is your business objective and capacity. Are these geographies good for that revenue target. Do you need to look at customer segments and personas, E.g. geography, size of organisation, industry, business objective, products etc. This should determine what else you need to do beyond SEO and PPC, and what there in. Networking event can be an expensive waste of money if it does not closely match your customer profile, for example. And even SEO and PPC are not useful enough if the leads that you get are not of the right profile - which is perhaps why you say times are a changing!

Your question seems to indicate that your organisation needs a business plan, that determines the sweet spot of a large market, customer needs you can fulfill, and where you have substantial or unique strengths.

I do not see your business changing the orbit without this.

I hope this help. Let me know if you need to talk.

Best wishes.


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