In the times when retail ecosystem is undergoing a structural change, the utmost focus of brands is to rev up the sales figure while going low on offers and discounts. Many big retail players such as Amazon, Dabur, Raymond, Cisco etc. have roped in sales enhancement solution providers to deliver best practices in sales by leveraging people, processes and technology to drive revenue. When all brand assets are aligned to deliver a superior customer experience, there is a demonstrable positive correlation on sales, says Sunil Munshi, CEO- India, Denave.
A global sales enablement company - Denave focuses on driving revenue growth for its customers and takes a solution-conscious last-mile approach to deliver best practices in sales by leveraging people, processes and technology to drive revenue.
Talk to us about Denave.
We have been providing sales enablement services for over 17 years now and we understand the industry pulse and what it takes to be profitable in the marketplace. With our blended approach of tele, feet-on-street and technology enabled platforms, we understand the requirements and therefore devise mechanisms to bridge the existing gaps and drive profitability.
Having serviced multiple industries across geographies, our practice teams have gathered the sales understanding and domain knowledge like no one else. Our continued success is based on our ability to bridge the gap between strategy and execution, based on our evolved processes and systems.
How is the retail segment evolving? What have been the key developments in recent times?
The retail segment has come of age and the there are multiple statistics to substantiate the growth that has happened so far, and the potential that lies ahead. Interestingly, the Indian retail industry is one of the fastest growing in the world. The retail industry is increasingly being driven by exceptional consumer experience in the age of stiff competition – value is no more just linked to price sensitivity.
The total concept and idea of shopping has undergone a 360 degree change in terms of format and consumer buying behavior, getting in a revolution in this industry. With the advent of modern retail, the Indian retail industry is going through a huge transformation. Today the emphasis is more on creating a unique consumer experience and brand advocacy. Real-time information management, generating customer insights and standardization is key to a successful retail strategy.
How is Denave addressing the retail sector? What are the services that you provide?
At Denave, we’ve developed a methodology that ensures a planned and managed retail sales environment. With our focus on enhancing customer experiences, creating consistency in brand advocacy, building impact decision-making process, ensuring quality hiring for better program output and implementing technology-driven methodology, we are driving incremental retail sales for our customers.
Our experience shows when all brand assets are aligned to deliver a superior customer experience, there is a demonstrable positive correlation on sales. Our Retail practice team takes a solution-conscious approach to ensure sales readiness thereby promoting brand advocacy, achieve sell-out targets and impact market in long term share. Having established our foothold in the IT and Telecom industry, we are now aggressively focusing on the FMCG industry with our retail services.
What are the opportunities in the retail sector?
The roadblocks faced by the Indian organized retail sector are multifarious and most of these are also opportunities driving the next wave of growth in the retail sector.
Training: Given the volume and diversity of the sales force on the ground who are interacting with the end-customers, there is an opportunity of creating platforms where people have access to ready-made training environment.
Voice of Partners/ Customers: The crucial step is to understand how they perceive you based on the service and experience you have provided and leverage that in all key decisions for the real impact.
Field Force Tracking: It can be done by putting up the technology in the form of GPS/ GPRS/ Mobile applications etc.
Merchandising Solutions: It requires detailed planning, store profiling, optimized business processes, data mining and analytics, POSM deployment/ enablement while allowing flexibility to react to market conditions. Leveraging technology in merchandising solutions can create huge opportunities in the market.
How is technology adoption changing the landscape of this industry? A number of technology trends over the past few years have dramatically altered the retail landscape. Today, every customer is a digital customer, with rapidly rising expectations about the quality and ubiquity of a seamless shopping experience across their digital and in-store activities. At the same time, technologies surrounding new forms of data and analytics are driving better operations and raising the level of understanding of customer behaviors.
What kind of technology driven methodology is Denave using for effective operations of its retail clients in India?
At Denave, we have built advanced retail hygiene management, tracking and monitoring tools to monitor the performance of sales people within retail stores and enable them to provide an enhanced consumer experience. Denave’s retail hygiene management solution drives alignment with the ecosystem and enables real-time access to market data in order to create an impactful market action plan. With focus on consumer experience by leveraging technology and consistency in brand advocacy, there is a clear impact on the decision-making process leading to incremental sales.
Denave’s mobility automation technology platform ReX (Retail Excellence) provides solutions to report ground level activities, helping in structured as well as real-time reporting from the retail executives thereby having a direct impact on increased productivity.
Given the burst in the e-commerce space, what role does sales enablement play in this industry and where does Denave fit in?
Sales enablement mainly focuses on executing strategies that help our customers achieve their sales objectives. Denave as a sales enablement partner for its eCommerce clients aligns with modern digital-first buyer behavior and drives a superior cross-channel customer experience. Amidst the entire e-commerce boom, the fact is that in the Indian scenario, there are just 20% people purchasing online – there is still a huge untapped potential of buyers.
We have solutions to help e-commerce companies to get trade closer by creating a marketplace for them. Through our merchant acquisition, seller enrollment, account management, on-boarding, training and audit services, we are focused on creating tailor-made solutions for expanding and enabling the e-commerce companies’ customer and partner acquisition and adoption strategies.