Challenge:

The startup in context is an e-commerce company, which has the vision to empower offline stores by aggregating their offers on its platform. Backed by a huge logistics company, they were looking for a go-to-market strategy to expand their operations in various cities of India.

Before on-boarding the businesses on their platform, a rudimentary concern was to gather accurate information about the prime stakeholders and determine the prevailing market trends in retail domain. Precisely knowing the retailers’ sentiment was perhaps proving to be the biggest and most important element in this startup’s journey.

The Testament suggested a Market research cum lead generation study in 4 cities – Delhi, Bangalore, Kolkata and Hyderabad with a sample size of 400 selected retailers (100 for each city). These 100 retailers were carefully curated and scouted based on clients’ most critical business objectives.

Solution:

• The Testament conducted a comprehensive demographic research and consulted some professionals from the retail segment to gauge the market sentiment
• A questionnaire was formulated after due consultation with psychologists, which included all the key data points needed for the research. The prime objective was to remove any sort of bias and get the most accurate reflection of the market sentiment
• 3 resources in each city were hired and trained through dynamic modules which included videos, documents and presentations and were thereafter deployed on the ground
• All the data points were recorded along with the on-ground voice recordings, GPS Co-ordinates, photographs and other attributes via The Testament’s in-house app Market Acquire^® for a streamlined and zero-loss process
• Data was analyzed extensively. Inferences and business advises were framed after consulting some of the top veterans of the industry
• The report was presented to the founding team of the client to great response and action

Result:

• The company obtained the wholesome data of 400+ prospects who had context to be able to get on-board as first movers, whenever the client approaches them
• The inferences and advises helped the client make critical changes in its product to make it gel with its prospective clients’ comfort
• The client got solid contextualized data which could be shown to its investors as a testament of thorough market understanding

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.