Quick Service restaurants (QSR) continue to be a significant segment of the Indian Food Service Industry. However, since it is one of the most out there, it is also affected by stiff competition from roadside food stalls which play on low price to branded fast-food chains (like McDonald’s, Burger King) which play on standardized processes. The customer experience provided can make all the difference when it comes to delighting the customers, driving revenue, improving customer loyalty and increasing profit.
All products usually pass through a lifecycle – introduction, growth, maturity and finally decline. The longevity of each stage depends on the equity of the brand and varies market-wise. Hence, to diversify risks and grow sales, companies operate in different markets. However, a dedicated consumer research must precede any new market entry in order to have relevant product strategy in place.
Program Design is the first step of launching a Loyalty Program and is the most key step in making a program successful. The starting point for designing a Loyalty Program should always be mapping out the journey of the target audience. This approach holds for trade programs or influencer programs or consumer programs hence the term partner is used interchangeably for all of them in this post.
An ideal partner journey consists of many steps where the partner starts out from not knowing about the brand, takes an interest, takes a bet, purchases the product (or enters into an agreement), experiences it, becomes loyal, shares experience and promotes the brand further. The exact journeys for individual brands would be more nuanced and need to be accounted for.
When we talk about Sales Force Automation, almost all of us relate it to what is being predominantly used in FMCG or Beverage industry over last 6-7 years. The general perception that has been built is that an SFA solution is used to manage a geographically dispersed field force in terms of regular outlet visits and activities that they perform in each outlet. Typically, those activities are order capture, sales return, payment collection, POSM deployment, planogram compliance etc. While the conventional SFA has evolved a lot to meet ever changing business dynamics of its client base and to adopt to latest technology innovations, even till date there is not enough traction for an SFA solution from the industries that sell their product/ services in B2B model by deploying sales representatives (or at times called account managers) who are responsible for visiting corporates, institutions, government offices etc. Healthcare, Telecom, Education, Heavy Electrical etc. are few examples of such industries.
Products & services are sold by way of different approaches. In retail segments where there is significant product, price or service delivery differentiation, sales staff focus more on product-based selling, that is, showcasing features over benefits.
For segments where the product or service is homogeneous and there is high competition intensity, sales staff try to provide solution-based selling, which is often called as consultative selling. Consultative selling believes in establishing a dialogue with the prospective customer, thereby understanding their way of life and then try to fit a solution through their product or service offering.