Does your business have the perfect strategy for sales? How have you planned to achieve your goals? We conducted our 4th round of mojoMeets last week, this time in Jaipur. This time, we gathered a unique medley of Founders, business experts and entrepreneurs from different startups in the country. The theme centred around the mojomeets Jaipur this year was: What sales strategies will help grow your business?
Keynote Speaker for mojoMeets Jaipur:
Mojomeets Jaipur keynote speaker is Chintan Bakshi, CEO, Startup Oasis
Panellists for mojoMeets Jaipur:
Vipin SJ – Customers success manager, Instamojo
Manish Harodia, Chief Business Officer, trucksdekho.com
Aayushmaan Falod, Founder, mapstriponline.com
Raman Malpani, Founder, Namaste German
Sonia Birla, Founder, Sonia Birla Jaipur
We are #mojoMeets ready you guys!
We’d be discussing about #salesstrategies to grow #startups in this #event.#mojoMeetsJaipur #networking #startup #Instamojo #entrepreneurs #entrepreneurship pic.twitter.com/uAe3usagmk— Instamojo (@instamojo) July 11, 2019
How Sales can help MSMEs grow their business – Vipin SJ
Vipin SJ, customer success manager at Instamojo, opened the session with a short introduction of mojoMeets. As someone who works closely with small businesses directly, Vipin stressed on the importance of events like mojoMeets to encourage MSMEs and help them grow their business.
It is tough to differentiate between business and sales. But it is also necessary.
Before starting a business, the first thought on every entrepreneur’s mind is “How do I sell my product?”
Every business is here to solve a problem; sales tells customers that THIS is the problem being solved. – Vipin SJ
Vipin said on Mojomeets Jaipur events that Startups are dynamic, and what helps the company to sell is identifying the core product challenges.
Data is not the sales person’s friend. But data should be an integral part of sales. We should learn to measure and measure to learn.
With #mojoMeets we aim to encourage and help #MSMEs grow their #business.
–@sj_vipin, Manager- Customer Acquisition & Success at #Instamojo. #mojoMeetsJaipur #networking #sales #jaipur #entrepreneurs #entrepreneurssummit pic.twitter.com/Uz2GIWpVmC
— Instamojo (@instamojo) July 11, 2019
Sales is a fundamental building block for business – Chintan Bakshi
Chintan Bakshi, CEO, Startup Oasis, kickstarted the talk on addressing the importance of building sales from scratch for companies on Mojomeets Jaipur. As an Indian entrepreneur, Bakshi stressed on the importance of building sales for your business with the right product fit.
With every sale, you need to aim at making profits, else you are not leading your company to growth. – Chintan Bakshi
Bakshi went on to explain the important tools and terms for startups looking to raise funding. Some of thee were:
- Activation
- Customer reach
- Active customers
- Customer Retention
- ARPU (Average Revenue Per User)
- Customer Lifetime Value (LTA)
- Customer Acquisition Cost
Chintan Bakshi, CEO, Startup Oasis is talkingg about solving #customer pain points.#MojoMeets #mojomeetsJaipur #Instamojo #networking #entrepreneurship #summit pic.twitter.com/9w84fjL6YL
— Instamojo (@instamojo) July 11, 2019
Bakshi spoke about unit economics as a business need and emphasised on the role sales played in it. sales.
Quality of sales is as important as quantity of sales. – Chintan Bakshi
Bakshi requested the audience to take a leaf out of their business books and remember a core rule. In Business module innovation, it is important to:
- Create a product
- Sell it to customers
- Make profit
It may look simple, but the importance lies in making it a mantra. Bring in innovation in terms of the business model or the way you sell, and this will grow your business.
Panel Discussion – How to build and grow your sales funnel
Post the riveting Mojomeets Jaipur session by Chintan Bakshi, there was an interactive panel discussion, moderated by Vipin SJ from Instamojo. The topic centred around building sales funnels for small businesses. Vipin opened the panel discussion to a group of experts with an important question: What is sales funnel? How can you create a sales funnel for small business?
Aayushman said that while you are at a startup, it is important to hire people who have knowledge of the industry. To begin things off in your business, the first goal should centre around creating the right target market, once hiring is taken care of. Stick to a strategy. Revisit the strategy every quarter and compare your goals.
Raman Malpani, Founder, Namaste German took an unorthodox but relevant approach to the discussion by talking about Trump. Yes! He things Indian salespeople and businesspersons can learn a lesson from his shocking election win.
Do not advertise to the entire world, advertise to your target audience only. – Raman Malpani
Advertising to everyone is a huge cost and can also attract negative sentiment for your brand. Daily/weekly focus on your target customer should be your primary goal and later, it should be all about your following.
Sonia Birla, jewellery businesswoman spoke about removing age as a constriction to becoming an entrepreneur on Mojomeets Jipur event. She also insisted on making products for India and selling them to Indians.
All the best products made in India are exported and not sold to Indians. This needs to change. – Sonia Birla
Her advice to entrepreneurs: Start by learning about the market, segment and people buying capacity and willingness.
Vipin continued the panel discussion with a final question: What are some of the channels companies need to use to sell their products or services?
Manish Harodia, Chief Business Officer, trucksdekho.com spoke about how businesses need to identify their products as a low intent or high intent product before defining channels.
Sonia birls said that the best way to reach out to your customers are:
- Whatsapp Database
- social media posts
- Email communication
- Personalised messaging
Sonia Birla, Founder, Feyroz Brand Of Jewelry.
She talks about how she believes age and situation in life does not matter.#paneldiscussion #mojomeets #instamojo #mojomeetsjaipur #BusinessStrategy #sales pic.twitter.com/c4DlpLR4Sl— Instamojo (@instamojo) July 11, 2019
Raman’s company did things differently. “We do not advertise to everyone. Since problems are localised, one solution will not fit every market, tweak the solution to the problem as per the geography and you will find your channels there.”
Ayushman stressed on maintaining a steady product personality. “Choose to be a brand that sticks to the original idea while tweaking and making changes to fit the market.”
In conclusion: Learn to differentiate between sales and marketing
The panel urged the audience and anyone with a business idea to remember that sales mean ‘to supply’ and marketing is done to create the demand.
Manish Harodia gave a strong statement about entrepreneurs attending networking events. Instead of hackathons and attending success stories of companies who are very successful, he urged everyone to attend and look at stories of companies which failed. Why? Because companies need to learn and unlearn what worked for some businesses and what did not work too.
“Attend a lot of fail-a-thons rather than hackathons”
You will learn more from a subject you failed in rather than a subject u cracked at first attempt.
– Manish Harodia, CBO, Trucksdekho#mojomeets #mojomeetsjaipur #instamojo #networking #entrepreneurship #motivation #startups pic.twitter.com/DZY2O1USWd— Instamojo (@instamojo) July 11, 2019
The mojoMeets concluded with an interactive session with the audience.
mojoMeets is all about community building and sharing unique business ideas with the whole country! If you are an entrepreneur, you should be a part of mojoMeets.
Follow our social media space to stay updated on the next mojoMeets happening in your city.
