The business landscape for online endeavours including e-commerce, e-gaming, fashion, entertainment and so on, is more vulnerable to market vagaries than others. However the team led by management expert David Barzilay has helped many an online venture steer clear of uncertain market trends. The bottom-line of building a sustainable future for a business is to identify -and cash in on- internal growth factors with fruitful interaction with external facilitating factors.
Choosing the product offerings innovatively
The internet boom has led to a phenomenal growth in the number of enterprises entering the digital race. Product USP (unique selling proposition) is a must for effective brand differentiation. Innovation is the key to breaking entry barriers put up by existing monopolies in the form of big and established players. The acquisition managers at IBID welcome tech-savvy online enterprises who offer inventive solutions to clients, that are characterized by:
- High level of dependability. Since loads of confidential client data is stored on cloud by online enterprises, they cannot afford to invest on solutions that cannot be depended on.
- Secure software platforms are fitting solutions to the alarming growth of internet based scams and cybercrimes. Since many transactions conducted online are financial in nature, the products offered must ensure clients that secure online transactions are guaranteed every time.
- Speed is the name of the game, to cater to a growing populace of busy working and business executives. A saving in time invariably becomes a saving in cost.
A little-something more is always enticing to the buyer who parts with his money in exchange for your product. Your competitor is hell-bent on proving how his product offers something more than yours to the customer. What transpires is the race to value-add and strengthen your portfolio.
- Value addition is possible by identifying the gaps in the existing portfolio. This throws light on new uses of an existing product or to market the not-so-familiar attributes in the product.
- Cost reduction can lead to value addition. Cost result will also help your business gain price leadership and control the mechanisms of demand and supply. These strategies can help build a certain and evidence-based growth path, in an atmosphere of uncertainty.
- Brand positioning becomes a breeze when your business provides value-added services. Identification of the right target market who will consume these value-added services is the key determinant in brand positioning and targeted business development activities.
Thumb rule of David Barzilay Management to articulate value-proposition
Adoption of flexible and holistic management platforms that will help in shadowing customer interaction helps clients see hidden profits by buying your business products and services. B2B marketing is tough and only candid retelling of value proposition can get you ashore.
The software solutions that are marketed by online service providers can become credible products in the competitive market only when they enable clients to track customer progress and behaviour. Online selling is not a one-time exercise and the physical gap between the buyer and the seller is effectively minimized only when the product offerings are able to monitor buyer psychology.
- Monitoring buyer intent is the key strategy in behavioural marketing. It enables online enterprises to ascertain their brand effectiveness.
- When cutting-edge solutions are offered to track the performance of brand, insightful information can be accessed by clients such as customer feedback, critiques, churn , to mention a few.
- Customers will remain loyal to your business when the relationship between the online operators and their target market in enhanced and is grounded deeply.
Building control mechanisms
Control is the key word to commercial sustenance. It is the guiding force for businesses to be ahead of prospective challenges and react to them in a pro-active way. Uncertainty creeps in only because projects are executed with short-sightedness, pushing long-term management and control to oblivion. David Barzilay Management has turned many uncertain projects into cash-rich ones, only by:
- Embedding tools to fix accountability and control over different processes, with timely review of operations.
- Control mechanisms compare actual performances with targeted, throw up the pattern of deviations and aid in assigning reasons thereof.
- Online business control is not a fault-finding procedure, but one that prompts effective remedial action and provides a precedent for future operations.
Offer integratable solutions to clients
The most frequently faced problem with online products are that proper efforts have not been taken to secure end-user acceptance. Often, the products sold do not adequately live up to the purposes for which they are bought. Furthermore, they require conscious changes to the digital infrastructure of clients.
- A solution that is easily absorbed into the existing management and technical structure of the client is most welcome.
- The on-boarding process is the best time to build trust, since the client is persuaded that the products marketed can be customized in an optimal way.
- When solutions are offered after a holistic analysis of the client business in case of B2B and end-user needs and pain points in case of B2C, brand acceptance cycle is effectively shortened.
Provide customizable solutions
Though off-the-shelf products have been in vogue, customers like to go in for the Do-It-Yourself approach, since it challenges the convention. Online businesses need to offer products, using which customers can add on their own ideas and designs.
- Dunking the blanket approach that mass-sells to customers, add a dash of personalization to your product portfolio, wherein, the solutions can be customized.
- When customers look for creativity and novelty, offering products that can be tailored to very specific needs of customers helped build brand repute.
- To know that their brand goes he extra mile in treating the individual customer with privilege, brand loyalty and trust are improved, organically.
The aforesaid algorithm of systematic growth helps online businesses to make sustainable profits from their commercial existence. David Barzilay Management offers a realistic framework sans abstract and utopian ways of business building, that charters a definite course of action. Adherence to these cornerstones of business basics and ethics will result in solid and maintainable growth.