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Story 01: {{page:INS14CW1UTNI:Sector at a Turning Point - Is Disruption the Only Option?:Sector at a Turning Point - Is Disruption the Only Option?:hfcR10}}

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OPINION

Sector at a Turning Point - Is Disruption the Only Option?

Brief about the series and its intended purpose. Key note message with the key messages that spark interest, invite attention and build anticipation. The experts look at various dimensions of emerging trends, their economic impact, shifts in buying decisions and how they affect the business or the overall sector.

ANDREW BROWN
Chairman of the Board, Company X

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Quote -- To make good of this period of slowdown and the resultant revenue loss, this period cannot be that of inaction. Instead the very immediate marketing response needed is to explore alternative action with lot more energy and smarter thinking.

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1. Discovery and market access is challenging and cumbersome

For sellers, market reach/access is challenging - while sourcing, discovery of options is too cumbersome. With shrinking margins and crowded me-too options, unviable to put feet on the ground everywhere. It is not viable to reach and scan the market.

2. Fight for customer time and attention - shift to on-demand

Some of them demand increased services for certain transactions while others prefer low-touch, 24/7 interactions. Customers give attention as per their own need and flexibility - anytime anywhere on-demand is the way. Ever reducing number of customer want to interact with a sales person until they have done their online research (for sure do not want meet in person); and until it is the right time.

3. Challenging to address multiple stakeholders in B2B customers

Customers in B2B scenarios constitute multiple stakeholders - all of them have a voice and possibly a vote on the buying decision or on business share allocation. Sales person gets access to only a few - rest is left to be convinced by and with the limited understanding (and potential Chinese whisper) of the customer' purchase staff.

It is now important to build on demand resources available to all stakeholders - whether or not, they offer interaction time to the company. Many of them undertake their independent research and education themselves to assess on their on own - as part of the internal assessment, buying evaluations and approval process.

4. Shelf life of sales leads is getting shorter and shorter: Missed opportunities

Responsiveness remains amongst highest rated customer frustrations. We are living in the world of instant gratification with a now or never customer behavior.

Harvard Business Review: Firms that tried to contact potential customers within an hour of receiving a query were nearly seven times as likely to qualify the lead (which we defined as having a meaningful conversation with a key decision maker) as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that waited 24 hours or longer.

No sales person predict and ensure that she/he knocks at the exact time when the customer need has matured. But if you don't then you miss the opportunity. You win some, you lose some - but do you want to miss some? Always on, digital connect is the only way forward

5. Centralized sourcing is on the rise

Increasingly customers are realigning their sourcing processes and adopting digital methods. To address the next level of cost pressures they are squeezing savings even on the low/mid volume purchases which were traditionally locally sourced with decentralized Facultyity.

ANDREW BROWN
Chairman of the Board, Company X

Faculty is the Chairman of the CEO/ Board of Company ABC. She/he is futurist of the sector and has been an active top voice in the field of new technologies and shaping the next level of sectoral progress.

Disclaimer: The views expressed are solely of the faculty and Hotlink does not validate nor necessarily subscribe to it. Hotlink shall not be responsible for any damage caused to any person/organisation directly or indirectly. Hotlink relies on the integrity of the faculty, experts, authors and contributors in providing true and accurate information in their content and doesn’t control or vet such content for accuracy or otherwise.

Hotlink Series 200901 | Story 01.

HOTLINK SERIES | SECTOR | GOBAL

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01. OPINION

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ANDREW BROWN - Chairman of the Board, Company X

02. OUTLOOK

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EMMANUEL POLISKI - CEO, Rising Brands Inc

03. INTERVIEW

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KARAN KHANNA - Senior Partner & Global Sector Leader, MC Management Consulting

Interviewed by - SAM MALHOTRA - VP & Chief Marketing Officer, Brand Alpha

04. DIALOGUE

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STUART ROSS - President - International Markets, Enterprise IQ

PROF MICHAEL SMITH - Professor of Business Strategy, Ivy Business School

05. FOR & AGAINST

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ANJALI LINBERG - Partner, PE Private Equity

RICHARD PLUMMER - Director - Global Product Innovations, Brand A

06. EXPERTS PANEL

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RICHARD PLUMMER - Director - Global Product Innovations, Brand A

ANJALI LINBERG - Partner, PE Private Equity

JUDY BRISK - Global CEO & Chairman of the Board, DS Company

PROF MICHAEL SMITH - Professor of Business Strategy, Ivy Business School

SAM MALHOTRA - VP & Chief Marketing Officer, Brand Alpha (Moderator)

07. COMMENTARY

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JUDY BRISK - Global CEO & Chairman of the Board, DS Company

08. ANALYSIS

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ANJALI LINBERG - Partner, PE Private Equity

09. WATCHLIST

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RICHARD PLUMMER - Director - Global Product Innovations, Brand A

10. EXPLAINED

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PROF MICHAEL SMITH - Professor of Business Strategy, Ivy Business School

11. DECISION-POINT

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STUART ROSS - President - International Markets, Enterprise IQ

12. OPINION

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SAM MALHOTRA - VP & Chief Marketing Officer, Brand Alpha

{{page:IN4RTG86QF11:Latest Sector Trends & Launches in Category or Market:Latest Sector Trends & Launches in Category or Market:hfcR10}}

Photo Credit: Hotlink Stock | Hotlink.com

OPINION

Sector at a Turning Point - Is Disruption the Only Option?

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