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Marketing, Sales & Services Outsourced
How popular is marketing process outsourcing in India?
In the recent two decades, a major change in the way corporations do business worldwide has been the rise of outsourcing. Traditionally to start with, corporations majorly outsourced finance and information technology related processes. Later human resources functions, especially recruitments and payroll related processes also came to the fore. Marketing as a business segment, save for advertising and public relations has been largely insulated from this phenomenon. However we believe and are fairly confident that the coming years will see a rise of marketing process outsourcing globally as well as in the domestic market. We have positioned ourselves to tap into this hitherto unexplored phenomenon and enter into mutually profitable and healthy relationships with our clients.
Kind of benefits small and medium enterprises (SMEs) reap out from outsourcing their marketing activities:
Traditionally SMEs have operated in a cocoon of their own. With the opening up of the business environment in the post liberalized era, most have them have realized the importance of marketing as a function as distinct from the narrow focus on year to year sales numbers. However most SMEs are still overtly dependent on a few large clients and new business development is majorly limited to gaining contacts through informal means. The major benefit provided by an outsourcing partner is the quick entry in to the modern marketing concept. The SME is saved from the going through the long cycle of experimentation and hit and trial otherwise involved. It gets a one stop solution to all its marketing needs.
Kind of benefits small and medium enterprises (SMEs) reap out from outsourcing their marketing activities:
Indian SMEs are faced with budgetary and managerial limitations as far as marketing operations are concerned. So outsourcing services are helpful and cost-effective for them. A SME is faced with major limitations as far as building an internal and efficient marketing department is concerned. Firstly it becomes difficult to hire quality marketing professionals due to the consequent salary bill to be footed. Secondly the danger of your key marketing personnel being poached away by a lurking bigger player is very real. For a SME, an outsourcing partner like us brings the necessary expertise to the table at typically a fraction of the cost involved in an internal department building exercise.
Kind of planning you put into place before initiating marketing strategies for SMEs -
What an outsourcing advisor like us does is to take a simple and pragmatic approach to the client concerned. Firstly in consultation we clearly lay down the revenue goals. Different permutations and combinations of marketing activities to achieve these goals are then strategized .The effort is here is to arrive at that combination which maximizes the return on investment on marketing activities.
Kind of services provided in general-
Our services encompass all the four P's of marketing . To start with we try to bridge the gap between the present product offering and the offering which is best suited to the target market. We understand their product or service and apply our expertise to discover a target customer base and chart out the methods and techniques of tapping into this customer base. The key question often addressed here is "whether a minor change in the product or service or positioning can dramatically improve the value proposition?" Traditionally SMEs follow the cost plus pricing model. Through our research channels we lay down a roadmap to shift towards a value based pricing model. "What price will a potential customer pay for the expected value derived?". This question forms the basis of our pricing research. Finding the marketing channel which ensures the optimal mix and match between visibility and ROI is crux of our channel studies. Taking the example of a shoe manufacturing SME, the choice may be between reaching out to a few distributors or multiple retailers. The answer lies in a careful assessment of internal workings as well as the external and general business environment. Also the growth of e and m commerce has opened up new opportunities for relevant categories. Generally promotional activities have been the gambit of the big guys and SMEs have steered clear of them. However our endeavor is to come up with targeted and well defined promotional strategies. For instance a garment manufacturer may benefit from a small billboard advertising campaign for its new collection in its target area. Maximizing visibility and returns from such a campaign shall be our key point of address in this case. To summarize, we strive to plan in a manner which migrates our client from the traditional selling concept of marketing into the modern customer centric marketing concept .
Kind of challenges SMEs usually face in their marketing functions:
The cut throat competition and the power which bigger players yield pose a stiff challenge to the marketing power of SMEs.They face challenges on product ,pricing as well as promotion fronts. The key here for a SME lies in clearly defining its existence and marketing processes. An outsourcing partner like us can be a valuable entity in this fight for market space and existence.
