SERVICE INDUSTRY

Hai Folks,

Recently Joined a company which is in to Service industry, Here the services are Financial services, and the company name is Converging Miinds. Even though i'am a fresher they given me a huge responsibility of entire marketing Department, so learning many new things daily, and more over wanna share my experience of service industry as well as my marketing Life.

As you all know Marketing is a risk of life and more traveling includes, Most of the people don't like taking field work as a fresher,but all freshers has to realize that they can learn new things in the field work only, than sitting in office and doing work. Field work is one of the best job to understand the market scenario as well as the demand of the services, requirements of the people. Based on this we can formulate the marketing plans, penetration strategy or identifying the right segments or target oriented people.

Selling a service is not so easy than selling a product as we know, Products are transferable but services are non transferable, that is how selling services makes difficult. and more over one thing i can say is service industry is really a big challenge than any other industry. First of all service is intangible but as a marketing guy making intangible service to tangible service in front of a customer is all about the catch.

Sales story of a product always matches to different customers or it differs 10 % for customer to customer.

but a sales story of a service varies to customer to customer by 25 %, with out understanding the requirement of the customer u can't sell the service.

Most of the sales guys always try to pitch up the customer by explaining benefits of the service or benefits of the product, but very few marketing or sales persons try to understand the requirements of the customer and then they will pitch up with suitable or relevant sales story which suits for the customer. this is how a successful sales guy do.

some people may ask a question that how can we understand the requirement of each individual, then my answer is ask questions in between interacting with customer, ask such a questions to understand the customer requirement or perception of the customer, this will comes only when you have certain months or atleast one year of exp. to understand each individuals or in analyzing the customer segments.

Catch you soon with some more experience.

Lali Krishna