The lifecycle stage includes the transition from Product/ service stage to the business model stage. The main idea is to give a new definition of the GTM, for a new product entering a new market & build a smooth ecosystem for the same. The total engagement spanned to a duration of 6 months.
The main challenges include- the absence of an efficient sales team, lack of a defined process to set up which in turn led to minimum information on the sales cycle & conversion rates were unknown. The sales team could not match the vision of the firm, to add to this there was lack of online presence.
We started with identification of target market and industry vertical, through a rigorous market research. After which the right partners are chosen, who are then hired and trained within the sales team. Set up a full proof sales process with review mechanism, after competitor analysis the target segment and positioning were defined, to make online presence wider digital marketing strategy was developed.
Recruited and trained a fully functioning self-sufficient 3-member sales team, providing the ideal partner framework based on their needs. Three partners were brought to the final negotiation table after which marketing strategy was prepared and implemented and terms were given to the marketing associate.