Dancing with the elephants in a global world - Samir Palnitkar #PNCamp

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Dancing with the elephants in a global world - Samir Palnitkar #PNCamp

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ShopSocially where friends help friends shop

Dancing with the Elephants in a Global WorldProduct Nation CampDec 5, 2013Company Confidential#Quick Intro to ShopSociallyCompany Confidential#... social commerce for retailers

Company Confidential#3

Company Confidential#Benefits (click images to learn more)

$50MM+ in attributable, incremental revenue & counting

Via friend recommendation, the best possible way

Social signals are the #1 driver for SEO rank

2MM+ Facebook fans1MM+ Email subscribers4MM+ Rich profiles (bday, gender, geo, likes & more)

200MM+ word-of-mouth impressions & counting

Social influencers,trending products & moreCompany Confidential#B2B Sales in US Markets for India CompaniesShopSociallys experiencesCompany Confidential#Suggested AgendaInteractive Presentation SamirInteractive Presentation GirishOpen Q & A

Company Confidential#Ground RulesLeave all mobiles switched off except during the breakPlease limit air timeBe succinct Company Confidential#How to get the customer interested?How to get the customer to try your product?How to lock the customer in?Things critical for a saleCompany Confidential#Founders had to do the selling firstSales people need a template to sellingChanged our pitch multiple timesTrials were conducted in an ad hoc fashionWe learnt from the trialsNow we have set methodology that is very likely to succeed

Initial SalesCompany Confidential#Pricing was a challenge. No pricing precedentStarted with Cost per Sale pricingToo much variabilityToo much pressure to keep campaigns activeMove to fixed monthly subscriptionEither our pricing scared away merchantsOR we were leaving money on the table.Monthly subscription + cost per social actionAllows us to go low if neededCovered on the high end with overagesPerformance + stickiness are very important

PricingCompany Confidential#Offer free trials if possible.It eliminates the barrier to get engagedStarted by offering free trialsOur product was not naturally stickyPeople would kick tyres for a month and then cancel. We spent a lot of time serving junk customers.Offer trials ONLY if the product is sticky or shows performance without too much hand-holding.If the product is not sticky, add sticky featuresSticky means like if they pull the product out of their system, they should scream in pain. TrialsCompany Confidential#Create a sales templateHow will it benefit the customer?How will it integrate?Visuals are extremely importantStunning visuals will make a differenceShow customers the tool in their context if possibleDo not expect them to extrapolate mentally about how the product will fit in their environmentBe ready with pricingSome of our customers close immediately

Sales LessonsCompany Confidential#Channels are extremely important to create scale. Identify possible ways of distributing the product.Create a value proposition specific to a channelChannels for ShopSociallyBrand AgenciesSEO AgenciesAffiliate NetworksTag CompaniesShopping Cart ProvidersDecide on the cut to be given to that channel

ChannelsCompany Confidential#Physical ProductProcesses to do trials, shipments has to be extremely matureLot of working capital needed to distribute physical productDistributors have to stock the productResellers sell the product, but do not stock itOnline ProductGet customer to visit your websiteGet the customer to try the productLock the customer in

Physical Product vs Online ProductCompany Confidential#Inbound LeadsReferrals from our own product (Powered by ShopSocially) 60% of our inboundsSuccess Story Webinars (once a month)Thought leadership articles blogs (twice a month)Guest blogs (once a month)Competitor press releases (twice a month)Best practice seriesSocial Edge NewsletterOutbound LeadsUse LinkedIn to search for customers in a categoryBuild lists, name, email, phoneEfficient Lead SourcesLinkedIn Dedicated lead lists (e.g. retail, data.com)Published lead listsNeed to extract email and phone #Inefficient Lead SourcesConference Attendees

StrategiesCompany Confidential#Email the leadInvite to webinar ORInvite to read a whitepaper or interesting articleOn click, call the leadFollow upArrange a phone meetingFor large customer, in-person meetingPersistent follow-up requiredAutomated follow up via Pardot (not customized)Or manual followup (using a person)Outbound lead touch strategyCompany Confidential#Split of customer facing functionsSalesMarketing(Conferences)Business DevelopmentPost-sales Customer SuccessSalesCustomer SupportGlobal SplitCampaign Creation & SupportBusiness AnalyticsUSIndiaMarketing(Blog, Webinar, Lead Gen, Collateral, Site)Company Confidential#18ThanksCompany Confidential#