Artificial Intelligence and Automation will fail?

After studying AI for some time, I have come to a conclusion that AI will help businesses in two main areas:-

1. Ability to forecast future events with high level of precision
2. Ability to take decisions with minimum chances of errors

However, the predictions will depend largely on the kind of data on which algorithms are based.

When it comes to marketing, some marketing campaigns will continue to fall miserably because they are not personalized.

Personalization is a qualitative aspect which is largely driven by creativity & content of the communication…

Engagement = Attention

And

Attention = Relevant content

Creating successful campaigns with high-impact content is often about thinking beyond the past data and trends!

Hence, creating content will remain in the hands of creative brains! and content creation will become one of the most in-demand skill in few years.

This is where AI will not able to help much as impactful content is rarely based on past trends and is about understanding the current emotional sentiments of the target audience.

Where else you think AI will fail?

#GallaVichaar

#Automation #Marketing #AI #ArtificialIntelligence #CreativeAgency

Many businesses struggle with sales and revenue, but they are not willing to adjust their prices as per the current market requirements.

“It will deteriorate our brand value”, a business owner claimed during our recent meeting.

That’s an incorrect approach!

Pricing strategy in businesses is not only about discounting but is about balancing inventory levels and current market sentiments.

For instance, Apple phones have always been too expensive for Indian Market.

Ever since their launch in India, they have catered to only a handful percentage of mobile owners.

Finally, Apple opted for price cuts and credit card cashback for the flagship iPhone XR.

It brought down the price from Rs 76,900 to roughly Rs 59,000.

What was the result?

Apple’s sales volume in India has doubled annually in the fiscal third quarter.

Being the second-largest mobile market globally, India is really a crucial market for Apple.

What’s the message?

1) Be unemotional while implementing price strategy
2) Price strategy is NOT only about discounting
3) Never decide price according to how you gauge the worth of your product or how it performs in a different market.

Prices should be decided according to the real time ground realities!

Agree?

#GallaVichaar

#Pricing #Apple #PricingStrategy

Let your sales team bear the same pains & face the similar problems which your customers might be facing.

HubSpot is a leading developer and marketer of software products for inbound marketing and sales.

Founded in 2006, it has gained over 56,500 customers. HubSpot is currently valued at $6.5 billion.

Do you know one of the significant mantras behind HubSpot’s successful sales strategy?

Hands-on training to the sales representatives before they begin selling.

Yes, HubSpot has developed a training program under which the sales representatives have to make their own website and blog and drive traffic to it.

This exercise helps them in understanding problems a potential client may be facing while doing similar task.

Today, most companies hire sales representatives and let them start selling without any training or prior education.

It results in a lack of understanding between a customer and a sales representative, which leads to loss of customer and business.

If your sales team knows the pains of customers, it can portray the product as problem-solver besides answering other queries of the customers.

Are you training your sales team adequately? How does the training programme in your organisation look like?

#Gallavichaar
#7Days7SalesTips
#salesplan #salesprocess

Are 10 minutes daily too less to create an unforgettable customer experience?

Ritz-Carlton Hotel is the only hotel brand to win the Malcolm Baldridge National Quality Award (Twice) for crafting remarkable customer experiences.

They are spending only 10 minutes daily to provide quality services to the guests.

Yes, after and before every shift, the hotel employees, as well as the management team, meet for 10 minutes daily.

They discuss a service standard daily in those meetings (like professionalism, hospitality, manners and courtesy, cleanliness etc.) so employees can focus on it.

The employee who gives a memorable experience to a guest is praised publicly and his story is posted on “Wow Wall”.

It motivates the employees to create their own stories, which results in exceptional service and enhanced customer experience.

What’s the message?

You don’t need hour-long meetings to inspire people to serve customers well.

Focused, consistent and stories oriented short meetings can solve the purpose as well.

Remember, customer experience shouldn’t be an event; it should be integrated into a company and its employees’ blood.

#GallaVichaar

#7Days7SalesTips #SalesStrategy #CustomerExperience

Many experts believe TikTok is “the next big thing” in the world of social, and they are not wrong. TikTok is becoming a larger marketing platform—especially for brands that market to young people.

Apart from the fact that the platform was able to create its own fleet of influencers who enjoy high number of fan following and engagement, the growing interest of Bollywood and Hollywood celebrities is further enhancing the usage of the platform.

Here are top 5 reasons why Tik Tok is becoming a must:-

1) Tik Tok has 500 million users world-wide and is currently the most aggressively growing social platform. ( Google trends, Data Reportal 2019)

2) It was the third most downloaded app in Q1 2019 with 188 million users. This is growth of 70 % over 2018 same time. ( Sensor Tower report 2019)

3) Extremely targeted audience – 41 % of users are aged between 16 – 24 ( Global Web Index 2019)

4) Being a short video platform, it has extremely high time spend. The average time spend per user is 52 minutes as per Business of Apps report in 2019

5) The platform has its own budding influencers with huge following and engagement.

Recently Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism) has concluded the regional #ThisisDubai social media campaign, hosted in collaboration with TikTok. As part of the partnership, TikTok, which is available across 150 markets, created bespoke AR stickers with exclusive Dubai themed music inviting participants to capture striking aspects of the city.

The campaign received an overwhelming response of over 30 million video views on the campaign page and 9.8 thousand videos created, with posts showing users enjoying ‘only in Dubai’ experiences across the city, or destination videos with the campaign’s themed music, helping them to tell the story of Dubai.

Do you have Tik Tok in your next media plans?

How companies like Uber are retaining their customers?

Personalization – making customers feel more exclusive by involving them more in the process and giving them a feeling of owning the product.

In few of the cities around the world, when you book an uber cab, and if your ride matches to a music-enabled cab, you can play the already setup playlist or your personal playlist from Spotify in the cab.

You can also turn up or down the volume, from within Uber or Spotify App, wirelessly.

This personalisation is making music lovers to prefer Uber rides over any other cabs or traditional taxis.

In this time of extreme competition, personalization while facing clients is a must.

Successful companies are closing studying what customers may want, and integrating those needs and expectations into their products and services.

Personalization increases strike rate of sales teams because customers can feel something for themselves in those products or services.

What’s the tip?

Instead of a “same blanket sales pitch” focus on customised and personalized sales pitches.

A lways look out for new, unexpected mediums to connect closely with the customers.

The more you do it, better are your chances of hitting your revenue targets.

#GallaVichaar

#SalesPlan #BuildingStrategy #CustomerRelationships #Uber #Spotify

“Always be closing” won’t work in sales anymore.

We, as sales people, try to pitch sales and close the deal as early as possible.

However, times have changed.

You can crack short deals through this mantra. However you can’t win game-changing sales deals which’ll take your business to next level.

So, what’s the best strategy now?

Understanding clients business by asking relevant questions.

Focusing on solving problems then just “closing deals”

Building trust and credibility by creating value thru solutions.

As Gary Vaynerchuk says, most of the people are playing short-term game which is why companies struggle to sustain.

Sales isn’t restricted to B2B or B2C now.

It has actually transformed into H2H (Human To Human) relationships.

What strategy are you following to close deals?

Are you playing short or long?

#GallaVichaar

#SalesStrategy #SalesForce #Relationship

“You need to think more innovative to get business”

Many sales people hear this on daily basis.

( The irony is most bosses dont know themselves what do they mean by “thinking innovative”)

Often client servicing teams in companies are considered living beings with magic sticks. Companies feel that just hiring someone with a title of ” Sales / Client servicing Executive” is enough for business to start rolling.

The cycle of unnecessary pressure starts when:

1) Managers submit projections to the company without properly analyzing the market conditions.

2) Once the unrealistic projections are not met, sales people from teams are pressurized and sacrificed to save position of someone senior who often projects the next year’s targets wrong again.

3) Worst of all, the only argument generally weak managers have is ” Get Innovative and Get business” – but there is absolutely no vision and clarity for sales on “How to get innovative”?

Companies need to have robust KPIs system which appreciates performers & weeds out non-performers -BUT this needs to be supported by a culture where creating innovative ideas and road map for sales is considered responsibility of team leaders while executing them on ground be a sales initiative.

Agree?

#GallaVichaar

#SalesTips #GrowthMindset

“Your driver knows where to go and the payment is completely cashless.”

Seems a familiar line?

Yes, Uber has explained its unique value proposition explicitly in the application and on the website.

Uber knows the pain points of customers in hiring a traditional taxi.

You have to go to a taxi stand, explain directions to the drivers, and make the payment in cash.

Cashless transactions, maps-friendly drivers and one tap cab booking persuade a traveller to choose Uber over a traditional taxi.

To succeed, a business should know its unique value proposition – exactly what sets it apart from its competition.

It should identify the benefits which only it can provide or the problems which only it can solve.

Once a startup or a company identifies that benefit or problem, it can explain why prospective customers should do business with it.

Do you know your unique value proposition? How are you conveying it to your customers?

#GallaVichaar

#SalesStrategy #Customers