Every time something new comes up and people jump on it, they learn something new but it seems that they often start forgetting the best features of the previous while learning. Then came the content marketing era and inbound marketing surge. Now there is a swing back to ABM (Account based marketing and proactive sales). Danny Wong from Blank label just published an article about this with 9 B2B sales predictions for 2016 in Huffington Post (source: http://www.huffingtonpost.com/entry/the-future-of-sales-9-b2b-sales-predictions-for-2016_us_56beb9b0e4b06fb6526b67c9)
It was great article and I totally agree with Mr. Wong.: Outbound and account management are musts, buyer journey and customer centricity are imperative. Marketing automation is fantastic in existing customer management and content marketing. Still, in case of new prospect recognition most visitors don’t leave their contacts or signs of interest which leaves most potential customers unrecognised. This is something that has bothered me.
Then I learned about Leadforensics… (because they reached out to me and outbound works 🙂 ) They gave me a short introduction to their software (phone+video), we did a pilot with two weeks of data capturing after which they presented me the results and pitched me an offer. I got hooked and bought the license.. and I am even more hooked now. (By the way, their process is very much worth experiencing too, its brilliant. You can book your trial contact here)
This is something I just have to share, because I find Leadforensics to be so elegant, easy and effective. The foundation of the service is IP address recognition. The service lets you know from which companies people are visiting your website, how many of them, which content, time spent and so on. In B2B this intelligence is often enough. You know which companies are looking right now in your sector and they are already considering your company. In case you are considering marketing automation or need leads for sales to follow, Leadforensics is a great tool to take as a first step in operational and cultural change or as part of the lead generation development in marketing automation project. This is what you get (this data is from this site):
#1 Visiting organisations
#2 Sorting visitors
Example of multivisitors
#3 Company details and visitors
In this case 3 visits by one person
#4 Potential people to contact
#6 Sorting and actions
Now that I have the tool in use, I can upload my customer register and create a current customer group with assigned contacts. I can also create prospect list with assigned persons who will be notified about new visits. You can also define goals, not every content is a sign of buying intent, but some are exactly that. Assigning goals and actions for them is quite easy and effective.
My company FutureCMO – Catalyst for Growth is a super temp one man show with a network of other entrepreneurs and I am mostly helping large companies with their digital and customer experience transformation. My challenge is, that projects are large and take my time while running them leaving me little time for selling next cases. When they end I can easily drop between projects. This kind of transformation work is quite time sensitive and frequency of doing it is rare. Also, The lead-time from interest to project could take a lot of time too. Another challenge has been, that I have a globally competitive knowledge, methods and approach, but my work has been local sofar. Now I am going to make my first attempt to get my first very own international clients onboard. While working for WPP and Omnicom this was natural, but as an entrepreneur now it would be a big leap. This is why I think Leadforensics will help me target right companies at the right time and make certain that I can get my projects in without long stand-by periods. I am also working on a start-up for which we are raising money to get started and knowing which companies are interested in our pitch is very important. I am only in the beginning of using Leadforensics, but I am quite impressed with it.
In case you find Leadforensics interesting, you can book your own demo and trial period here (Link URL )
In case you are using some other tools for lead recognition, I’d be very happy to hear about your experiences!
Fraud is a major problem in South East Asia. Research suggests that 18% of budgets dedicated towards outdoor of home (OOH) advertising is wasted due to fraud in the form of weak monitoring systems. The task of solving this has prompted the emergence and growth of many start-ups, notably Online Aggregated Analytics. In 2015 it’s founder, Rafi Hasan, secured a channel partnership with Ipsos for Pakistan.
Still, OOH buying and planning is highly opaque and based entirely on perception. Najiyeh Akbar, the former CMO of Samsung Pakistan, has a solution. She and four colleagues came together in December 2014 to form 24Grey and recently launched their first product, a cloud based platform called Outnet. The platform integrates contextual and quantitative analytics to dramatically improve OOH efficiency. While there is no concrete data on the value of the fraud or losses in efficiency, anonymous estimates that 70% of OOH marketers admitted to being offered a kickback, while 90% of OOH vendors admitted to paying an off the books incentive in the last three years. Since being launched, Outnet has delivered up to 72% improvements in CPM and 48% improvement in cost per square foot in test scenarios.
I reached out to Najiyeh Akbar to learn about the team, product and growth strategy.
Who are your co-founders and how much have you raised?
We are a team of 5 right now. Outsourced partners and consultants number over 50 and are not included in the YOE figure. This includes myself, Hameed Kashan (LSE; Yum brands, United Nations), Amir Khan (Greenwich; JWT, Interflow) and Amber Rana (NYU; Geo, WPP). We are privately held and fully funded for the next two years.
What type of companies are your target customer?
We are reaching out to small and mid sized OOH advertisers through direct marketing. Our SaaS business model is based on a non-binding monthly subscription.
Given your scope, which companies would you classify as competition in Pakistan?
Existing outdoor advertising vendors, including agencies, could be considered legacy competition. There is also some direct competition in terms of services offered, but our business models and target markets are far removed.
What are you doing that is unique and cannot be replicated?
Existing solutions are standalone technology products that do not relate to each other or legacy agencies using electronic media processes to evaluate OOH. Our platform allows for planning, buying, evaluation, monitoring and auditing from one single screen using industry specific analytics and evaluation algorithms. All at a cost that is affordable for most OOH advertisers in Pakistan.
What has been the most successful client success case for Outnet?
A foreign airline could not justify continuing their OOH campaign to their principal due to lack of ROI data and buying transparency. They utilized our platform to conduct a like for like double blind RFQ and improved the reach of their Karachi focused OOH plan by 63% and increased budget efficiency (after platform costs) by 42% compared to their previous campaign with identical scope. This measurable planning performance was approved by their HQ and said client currently has an active campaign implemented via Outnet.
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Author: Babar Khan Javed, APAC Journalist at e27
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It’s the classic story of supply meets demand. On the one hand, Domino’s was losing its grip and brand recall among Pakistani consumers. And on the other, Pizza Hut’s GM of Operations, Ahsan Ahmed, wanted to be the Jack Welch of retail industry.
In May 2012, he signed a 3 year deal and joined Domino’s as its CEO in Pakistan with the goal for helping the company achieve its first ever month of positive P&L in 9 years. Not only did he manage that, but also 70% growth over the previous year. The question is how.
What did this experience teach you?
Domino’s grew because talented people got together. I just stumbled to their presence.
What was wrong at the point you took over?
International brands use our people, facilities, ingredients, our brains – yet sell under their own brand – leaving a fraction of the income and take another fraction back. Domino’s was struggling for 9 years – no one knew who was running the company or growing it. We can easily create good concepts, have a lot of creative people that can create kick ass brands.
How do you identify talent with leadership potential?
Anyone who has to make a decision is a leader. At times, the rider is a leader. You reached the customers house and showed them the order and you realize the order is damaged. Rider has to make a call and say “Please have this and I will get you another one.”
But people don’t do this because brands are wary of employee theft.
Are you happy when the competition steals the customer? When you don’t change the product, you will lose the customer. If you haven’t put in a monitoring setup that prevents people from stealing, its the HQ’s fault. People in the head office don’t know what happens in the field. They have never filled the forms.
So how many riders are now at HQ, calling the shots?
A lot of decisions are being made by operators. They are strategic and tactical. Not 100%, but certainly a higher % than our competitors. Our goal is to fill every department with an operator. Food companies think that riders are replaceable. But the customer interacts with this so called lowest denominators.
Can local brand achieve similar success?
There is money to be made. I better be ready to take it. In Pakistan people eat out or order in at max 3 times a week. In Dubai, its at max 6 times a week. When Pakistan transitions to this, the market will explode. You better have that inverted triangle.
What sets a good operator apart from the rest?
I want a group of people who have handled (and retained) irate customers. Brands mistakenly send their weakest team member to handle irate customers when in fact the strongest must go and create a long lasting bond. Every complaint is a gift, its a great chance to connect with people.
How do you operate?
We introduced a system wherein hiring focused on operators with successful backgrounds. We taught them time and people management. We created a decision making unit. Its the group that runs business for Domino’s. They set the goals to chase. We hand them projects and P&L management. They make their own budgets and gain approvals by BCM (Budget Control Members) and me. Its made in the 3rd week of the month to prepare and execute.
Why the third week?
It leaves ample time for planning. In the fourth week, they need to translate this into KPI which is linked to the budget. In the first week of the month, you need to sit and review your people side – how strong is your bench? Are you covered for the growth that is anticipated? Also see customer complaints, who has to be trained, hired or fired. Only then will people side be strong.
In the second week, we sit and review the marketing plan. If things are working, what is working? This is where we decide what stays and what is removed. Then comes to process of budgeting for the next month. Its an easy four step approach for meeting financial goals.
Why not quarterly like the MNC’s do it?
The mantra of the food business is ‘expect the unexpected.’ If you set financial goals every quarter. you only get 90 days to reach it. With our monthly approach, you are giving 12 chances. If you can improve the planning process and make it simple. Our growth is 45-50% growth, index to last year, most of which is thanks to the teams own planning.
Doesn’t that set up the team for feeling overwhelmed with the targets?
You have to make sure you’re setting the right kinds of targets. Then break it down – baby steps – into small achievable steps. People wait for exit interviews to ask people why they’re leaving. People miss the budget because its the case of wishful thinking.
Why did you close the North Nazimabad outlet?
There is no way to predict problem child’s. What works today may not work tomorrow. Irrespective of whose brain child it was, if it hurts the P&L, you must shut the facility. We’re looking at a third facility for DHA, ideally in Phase 2 extension. In order to service Karachites in 30 minutes of less, you need 70 locations.
Is this turnaround an outlier?
Turnarounds are possible in Pakistan. Because we have a fantastic bunch of human resource. Anyone who says otherwise should look in the mirror. Domino’s was able to make a come-back because the customers were very forgiving. The key is that you fill the HQ with operators. And give them a simple mechanism to do their jobs. It Alhamdulillah worked in our case. If it can turnaround for Domino’s, then it can for anyone.
What would you like the future applicants of the QSR industry to know?
My boss from Pizza Hut used to say that every problem has two legs. I have learnt that every success has two legs too. The problem is that we find the problem legs and shoot them, and forget to recognize the legs doing a good job. I hire people for their body language. You can teach them QSR and customer service, you cannot teach body language. I’m going to hire people on their ability to handle politics. QSR industry aspirants should
- Have the decency to inform the customer if an order will be late.
- Remember that somewhere in the system, a boss does not care how you get the job done, but wants it done.
- Finding a coping mechanism to help them take stress positively.
Why do you think most people shy away from QSR?
High stakes players in the country are coming in for some economic interest. Making money legally is the easiest thing to do. If you are making a lot of money and someone’s wants a cut in an illegal manner, you can find a way to be proactive and find a way of co-existing.
You and I can’t change Pakistan overnight, but in the mean time, we have to be practical people. When a food authority seals a premises, its because impractical and idealistic people have rubbed them the wrong way. Look at the other side. Batha earnings are far less than what QSR’s steal in evading taxes. So when you don’t ethically feed the regulators, they will eventually strike back. Business owners are bigger thieves for tax non payment. They think of this as the chicken and egg problem. Fix the paradox, you have the brains and resources to ensure accountability and make public those that steal.
What’s your key advice for QSR industry CEO’s?
Don’t manage people, lead them. Managing people makes them unhappy. Unhappy people get your store closed.
When I think about board member’s day to day life and board meeting’s average content, I know it’s full of big decisions. What is our growth strategy? Are we willing to invest millions of euros/dollars in technology in order to enable customer relationship strategy and automation? How can we reduce our churn? How can we lower over all costs and increase productivity? Thinking big is important, but I’ve come to conclusion that thinking big also makes board members blind to potential that is at their reach with minimal investments.
I’ve been working on direct marketing, sales development, customer journey analytics and customer experience- and customer interface design since 2004 and learned that the potential is amazing. Realizing the potential often only cost pennies, but requires new point of view and strong experience. So what is this really? It’s BEHAVIOURAL ECONOMICS. Using BE in order to rapidly create major changes has to do with Choice Architecture and Nudges, leveraging behavioural patterns. It’s very much like Service Designing, but doesn’t necessarily require total make over, just adjustments. I decided that I collect and publish some of the actual outcomes that I’ve discovered with my clients so that there is tangible proof of what I am talking about. These cases are anonymous and from multiple market areas including both B2B and B2C cases:
Conversion: Sales increased by 240% by only re-designing the way the product was introduced and how customers actually were steered to made the purchase. Investment level 5000€ – sales value in millions
Sales: Changing messaging order and starting marketing by allowing own members to buy first, before others. Creation of momentums inside the campaign. Sales index was 200% in a first year and 260% in second year compared to the original target budget. Investment level – no change. Double profitability impact: higher margins and stronger sales. The sales impact was + 20 millions.
Churn reduction: By changing the way how the company did invoicing, the company’s churn reduction was almost 1/3. Investment level in thousands – savings/improved loyalty > 1 million
Customer service cost reduction: Changing the way invoicing was done, we were able to cut contact center calls to half and allocate that free capacity to proactive contacting of customers who had given critical net promoter scores. Multiple impacts: NPS increase, higher loyalty, higher ARPU, lower cost to serve. Customer feedback also gave insights to overall service and product development. Investment level in thousands – impact in hundreds of thousands
SEO/SEM improvement: Cost of acquisition is often a critical profitability factor. In one case I analysed company’s current reach of SEO and SEM and came to conclusion that 1) Their all key words were targeting the last moments of decision making = most expensive 2) They completely missed the contexts that made their service interesting and valuable = high reach, low cost. Also, they renewed their website, which cut their lead generation to half. The solution: conversion fixes on website with minimal cost, new approach to SEO/SEM. Investment – re-allocated current marketing budget, projected impact more than 200% sales increase
Proactive service messaging: Sending customers service messaging with automation multiply their frequency to use service, increase spending and reduce churn. Investment apr. 100K, sales increase impact in millions.
What board members should consider:
We already have technologies and on-going spending – can we improve their impact
We already have thousands/hundreds of thousands/millions visiting our customer interfaces. Can we improve conversion to sales?
What is our level of contact center costs? How many contacts is there? What is causing those contacts? Can we do something about it?
What is our churn level (leaving customers)? What does that mean in euros/dollars? Can we do something about it?
We have tons of data. Have we really understood the value buried in it? How can we transform data into money (operational improvement with current offering – potential for new businesses and offerings)
One case I am currently working which is special for one major reason, its public, is Kela (Finnish pension insurance company). KELA is government managed and doesn’t have competitors, which means that I can talk about the case without breaking any NDA’s. Due to a legislation change, Kela is going to take over a new service area in the beginning of 2017 that currently employs 600 working years in employee resources. I have a privilege to analyze how customers are currently using Kela services, how and why they use office- and call center services. Based on this data I am looking for ways to increase self service level and decrease cost of servicing. The goal is, that by changing the customer interfaces and service processes we can decrease the service need so much, that Kela DON’T need to hire 600 more people to fulfill the new responsibilities. Since I started analyzing data, interviewing customers and customer service people, we have already found improvement points that allow Kela to cut hundreds of thousands and eventually millions of calls or manual applications. Very little user interface element changes alone can reduce costs by 1,5 million euros in one single service segment. These findings are now in process to be realized with lean UX workshopping.
There’s one specific finding that I just have to point out. In every application context Kela gives an average decision making time. The idea to give an average time is natural and intuitively right way to approach the customer need. However, there is a problem. Giving an average time for decision will create expectations. Giving an average time actually means that HALF of the applicants feel they get below average service, get worried and call. The number of such calls is +200K in total. What can we do? We can change expectations by changing ONE LINE across all services.
“The decision making typically takes AT LEAST xx time”
The change of this one line has very meaningful benefits:
half of the customers feel that their service EXCEEDED expectations
The other half is more patient
The projected saving for this very simple change is at the level of +1 million euros. The cost to make that change is 0€. When scaling all improvements together the savings will be calculated in multiple millions.
What is that KELA case really about? It’s about recognizing why people get worried, feel anxiety, what they don’t understand and how can we improve their feeling of confidence that things are going well. In practice we improve customer experience. In a commercial context this means higher NPS, stronger customer relationships, higher demand, higher conversion rates, lower cost of acquisition… the list is endless and it’s full of direct profit impacting factors.
What I suggest for your next board meeting is, that you take the board consideration list above and put it on your agenda. Then honestly consider if there is room for improvement. My experience is, that there always is. Then contact a person who has real experience about recognizing improvement points, analyzing the data for potential and capacity to create insights and design changes that make millions in ROI.
This is what I do.
Here is a short introduction to my offering and how does it impact company’s customer centric transformation, management, culture, infrastructure and processes: Behavioural Economics offering
Let me know if you want your company to take a leap to a whole new level of productivity. Let’s have a chat and see if we both get excited 🙂
+358 50 55 222 76
If housing bubble’s have taught us anything, its that real estate has a direct impact not only on home valuations, but also on a nation’s mortgage markets, home builders, real estate, home supply retail outlets and foreign banks.
According to The State Bank’s Quarterly Housing Finance Review, Pakistan’s “housing units’ shortage can be estimated more than 9 million units” in a nation where property prices average USD 480,000 and buyers have weighed down by a GDP per capita that barely brushes the USD 2,000 line.
Local and international players have convened on Pakistan to solve this problem, the first of which was Zeeshan Khan and his brother in 2006 with their online property portal Zameen.com, a site that educates, informs and empowers nearly 1.3 million visitors every month. The brothers have dominated the property portal market place in Pakistan ever since.
Rocket Internet’s entered Pakistan in 2012 with eCommerce start-up funding for electronics, fashion and apparel verticals, and further invested a year later with Lamudi.pk, a property portal with strong brand recall, footing & trust in northern regions.
But Pakistani’s don’t just live in Pakistan.
Overseas citizens send around $10 billion back home each year and most of that money goes into real estate. Sadly, they are often misguided about property prices by real estate agents and at times by their own relatives. While Zameen.com and Lamudi.pk fill this need for locals, the nation needs a property evaluation and consultancy service to help the millions of Pakistanis abroad as well.
Enter Arazi.pk, a property portal (founded by business magnate Umair Sheikh) that aims to revolutionize the user experience for real estate customers in Pakistan. It’s the first (and so far the only) Pakistani startup to be recognized as a disruptive startup by WebSummit and was also selected for the upcoming RISE Conference.
Apart from having similar features and services to Lamudi.pk and Zameen.com, Arazi.pk is the first property portal to introduce virtual tours, panoramic views and floor plans. To ensure a much safer experience, advanced security features include the automated account verification system (activated via a short messaging service).
Property evaluation services for Pakistani diaspora can help settle family disputes that are often caused by misunderstandings rather than bad intentions. The only components of this missing is a a value assessment service for foreign embassies (immigration services) and commercial banks as well. Corporate customers of real estate demand access to a map showing the recent value assessments in a particular area, ensuring transparency and accuracy. Time will tell which new player will bring this to the fold, or whether existing players will add it on.