Every week expert mentors are conducting sessions for the top 5 startup teams of GP Accelerator (GPA). The sessions effectively guide the startups for success in the long run.
Saleh Anam, Vice President of Mastercard came in as a mentor recently. The two-staged session was about sales, planning, and execution. Here are few key points from the session-
Find the target customers
He pointed out that the most important aspect of any business is getting sales. In order to make a sale, all business have to define the right customer segment. Target customer and customer feedbacks are closely involved with “Sales”. You need to find your target customers based on your business type.
Just targeting customers is not the end of your responsibility. If the business is new, then people need to be made aware of it. In that case, marketing campaigns will also need to be different compared to promoting existing service.
For new products, startups often struggle to get new customers. People are generally not very comfortable using new product or technology. As a result, startups face lots of difficulties in finding the right customers. Mr. Anam suggested the startups to be always aware of this issue. One way to mitigate customer anxiety is by offering a free trial so that customers can actually use its service without incurring any financial obligation.
Efficient Customer Care
To ensure the best service to users, customers care needs to be very efficient. While talking about the importance of customer care, Mr. Anam suggested that customer care or sales people should not start a conversation with customers about selling the products. This might be seen as aggressive and customers might have a negative reaction. Instead, customer service people should suggest a solution for customer problems through their product.
Increasing sales are crucial if startups want to expand their business and the best way to grow sales is by working on customer’s feedback. Mr. Anam believes that product or service can be improved through customer’s feedback. So he advised to take regular feedback from customers and accordingly modify service or product features.