prime take aways from meeting with experienced sales exec

by SteveBayle on December 11, 2009

Here are my take aways from my meeting:

1. We should strive to become “the Google of shopping” – if we do that, money will flow

2. We should target retailers with our business model as they are the ones closest to the customer – the manufacturer’s are too distant and they have already sold the inventory into the channel.
One pitch to retailers is that they could do with less sales people as Verbela is a major self-service tool. The other pitch is that they could give their sales people smartphones with Verbela so they would be much more helpful to consumers.
There tend not to be enough sales personnel on the store floor and consumers get frustrated.

3. The ultimate for retailers would be if consumers could actually complete their purchase in-store using Verbela, never having to wait in a check-out line.

4. The economy is with us in that people are much more careful about their spending, they can’t afford to waste money and need to be wise, informed shoppers.

5. The sales model for stores has to change, its broken. Verbela can be the change agent!
6. The push model of marketing does not work, particularly in stores, consumers suffer from information overload. Verbela solves that problem by providing personalzied information on demand.

7. We must have a sales and marketing team member from the retail industry. We don’t have the time to have someone learn on the job and we need their Rolodex. (Btw, Swift started to take off when they got someone from the conference industry on the team.) This is critical.

8. One play for manufacturer’s might be sales alerts sent to Verbela customers “the XYZ widget is on sale right now for 35% off at these 3 stores within .5 miles of your current location”

9. Our idea of sending store specials as alerts or notifications when the consumer enters the store – based on their preferences and opting-in of course might have legs.

10. Retail is tough business with very slim margins./

Posted via email from PostVerbela

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