The right selling strategy in India
Here’s the first part of a two part discussion GroCurv had a few weeks ago with a few of the top Sales and Marketing agencies on the platform. Our discussion was around launching new brands. And we split it into launching foreign brands in India and launching young Indian brands.
So here’s what our experts and agencies suggest to foreign companies launching in India.
⦁ Indians are more travelled now , and have more exposure to global lifestyles and brands than ever before. While there are many India’s the large middle class is a massive market for high quality foreign products. Foreign companies can be very successful here.
⦁ You need to research your market thoroughly. Again, the 2001 Census recorded 30 languages which were spoken by more than a million native speakers and 122 which were spoken by more than 10,000 people. How should your product interact with and communicate with its audience.
⦁ It takes time to get a foothold and build your niche, and you need to take a “long term view” and have modest expectations for the first 2-5 years. Clearly India rewards patience. Yet, it punishes inactivity. Companies need to be continuously engaging with prospective customers in order to build trust.
⦁ What worked in other countries will work in India, but you need to ensure you are selling the right products at the right price. Indians respect ‘Value’ in their purchases above all else. Is that value one of ‘esteem’, one of ‘affordability?’. These are real choices.
⦁ Support from a company who understands the fine print and structure of the market can make all the difference. Introducing Indian resources and talent to the foreign organisation early allows for optimal choices, and effective two way communication between the parent company and the Indian subsidiary.
⦁ Most important, Sales and Marketing relies on expertise, tactics, agility. Unlike all the other regulations which have well defined ‘Handbooks’ and government established rules, Sales and Marketing handbooks are being written and re-written everyday. Build agility into your Sales and Marketing thinking early. Use experts, take small steps. Have Project thinking embedded into your company.
Rapid high quality execution, and the willingness to iterate means that your early structures have to be fluid. India has seen many many examples recently of companies outsourcing their entire sales or marketing teams. (or both). As they decide the right competencies and skills to invest into.
Some other messages were
⦁ There is a large Indian consumers segment that values new technology and high quality. A premium play in India is possible, however the cost of good sol must be managed intelligently. Hence foreign companies must be prudent on their margin expectations in India in the initial years.
⦁ Indian consumers value brands. Brand management is therefore critical for any new company. An investment in making the foreign brand resonate with its Indian consumers is invaluable.
⦁ Identifying the right talent is very critical. Be it outsourced partners or inhouse employees, curating for quality of talent, competencies and work ethics and values is a very important task that should be addressed very early as part of the market entry strategy.
Approaching India, the GroCurv way:
While regulatory/ taxation/ compliance laws and mechanics present challenges to any new business in India, these have well established rules to be adhered to.
Sales and Marketing however is fluid and both topical and tactical. GroCurv experts in Sales and Marketing have over 500 years of companied experience across B2C and B2B domains. Educated in the top National and International schools (the IIMs, MDI. FMS, RSM Erasmus, INSEAD etc.) and with work experience across the globe they provide the right insights to align international brands and organisations to the Indian way of sales and marketing.
With all our experience of working with foreign companies in India, we can help you sell better in India and improve your sales and marketing efficiency.
Take a look at our platform today to unlock the growth potential through our network, and achieve success in your transformation journey.