A P2P Used goods platform conducts a Market Research Drive with the Testament and also generates business leads in the process
Background and Challenge
According to a recent study, the online used and refurbished goods market in India has increased 3-fold and is making giant strides with big online moguls such as, OLX and Quikr. This growth has been stimulated by growing consumerism and disposable income.
After successfully running its operations in the niche P2P space, the client was moving to expand its sales channel to a B2B supply chain of old/refurbished goods. The client was aiming to tap these scattered SMB scrap-dealers to enable multi-channel opportunities on its platform thereby increasing the volume on its online marketplace.
“To consolidate its position as an emerging leader in a competitive B2B E-Commerce platform , the start-up in context was unsure how to deploy a cost effective lead generation campaign to identify the prospective vendors, uncover their needs/supply chain, set-up meetings and build a pipeline of opportunities.”
The start-up needed a strategy to locate these scattered dealers in used electronics space, primarily dealing with Mobile phones, Laptops, Tablets, etc., enter them into the marketing funnel and turn them into hot leads.
There’s A Problem, We Solve It
The target market consisted of small and medium scale dealers who weren’t actively looking for an e-commerce platform. Reaching these dealers was only possible through a team of talented Marketers.
The Testament hired 5 facilitators for 10 days, using the crowd based recruitment technology – Market Recruit®. After an in-depth training using The Testament’s proprietary tech – EnGame® – the facilitators were tasked with:
- Collecting details of vendors
- Conducting an extensive on-ground survey to understand the nature and state of their business
- Pitch the client’s key message in a discreet, yet effective manner
- Handover the marketing collateral
The drive was carried out using the proprietary technology of The Testament – Market Acquire® – which enabled the client to:
- Get real-time insights into the program
- Record and listen to audio pitches, which is critical for Quality Assessment
- Monitor the results
- Create a database of prospective and qualified leads along with Geo-coordinates.
- Iterate the program with progressive and retrospective analysis
Impact
The Testament was able to generate results on tangible metrics:
- 500 business leads in a period of 10 days
- Database of vendors to serve as future leads
- Pushing the brand to ease market entry
The client was able to clearly articulate its value proposition to the prospects without any hassle and with an unmatched level of transparency. Also, with The Testament, the client was able to keep the internal head count small and focus on the other key areas.
