The first step for any successful GTM in the SMB space in India is identifying and finalizing the target market. With 65M+ SMB’s in India, it’s important to sharpen the exact TG profile – whether its industry, location, size of company, products they sell etc. This allows a company to target efforts more sharply, create a compelling value proposition for that specific target segment vs. a spray and pray approach. Once you know the exact profile of an SMB that you’re targeting, you can work towards enriching the data you have and how much you know about these potential customers and create sharply targeted communication using AI to nurture base and increase conversions. Set a goal of what revenue you want to target for the year, see what type of SMB’s will help you get there and what gives you confidence, work towards cracking them – at least you will have confidence that your efforts are going in the right direction. Great article on this topic: https://lnkd.in/gtS3RmCH
So many SMB's spread across India, but no B2b platform has been able to create solutions to help them get effective business leads which gets them regular business. SMB's even after paying struggle to get quality business leads which takes away their interests of promotions through online marketplace. What is working for B2C has not succeeded for B2b. SMB's do not understand strategies they need hand holding support/ guidance that is where ecosystem seems to be not developed for a big market like India.
Head Business Khatabook (YC S’ 18) | Driven B2B & B2C Outcomes at Believe | Enterprise, MSME, Retail Solutions at Innoviti & Tally | Start-up | Fintech | SAAS| Lending| ERP | FMCG | MDI Gurgaon
8moAgree Aditi Puri Batra would also like share an experience of mine: In 2019, when I consulted New Zealand, giant “Xero” on if they should enter India now; after understanding what they do, how they do, versus what kind of profile they were targeting, it came out, India market is not the right fit market for them. It saved them few million dollars, which they would have invested/ wasted, without right time of entry. Intuit learned it the hard, they tried several shortcuts, but failed. What works in US, with that ARPU & product or any other market, should not be copy pasted in other markets. Doesn’t work all the time.