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Home-rental marketplace zonal strategy to increase GMV with focus on and contribution of all the

key functions of the organization

The start-ups on the horizon in India aim to address some very fundamental problems. E-commerce
start-ups like Zomato and Myntra have solved the 'roti' and 'kapda' problems, the 'makaan'
fundamental remains elusive. For people who have graduated to living in their own home the problem
remains impalpable, and finding a home on rent in urban India remains a tough task. The younger and
single men and women find it an even bigger problem as the rules imposed by the property owners or
landlords are a huge deterrent which make the feel of the ‘rented’ accommodation close to a boarding
school hostel and a far cry from ‘home, away from home.’
With Census 2011, showing that as much as 50% to 60% of households staying on rent in metros like
Bengaluru and the market like Gurugram where you have over 10,000 such rental requests a month,
the demand is immense. Also, according to 2011 Census data, out of 25 crore households / families in
India, 8 crore (32%) stay in urban areas out of which 2.5 crore (31%) households stay in rental
accommodations. If we assume these households pay an average monthly rental of Rs 8,000, that
would amount to a total value of Rs 2,350 billion ($36 Billion) being paid as rent in urban areas alone.
Therefore, the market potential of the ‘home-rental’ marketplace, and ‘Nestaway’ is already in the
lead truly identifying the potential and executing on it comprehensively.
To lead this forefront in India’s ‘millennium city’ Gurugram, there should be a holistic role writing,
execution plan and Go-live strategy for organization’s prime functions of sales, marketing, product
and Tech.
1. Tech and product: The product of the app and website are the core. Both sides of the
channel partners ie tenant and landlord visit and engage on this medium. The inventory ie
accommodation features here. In the existing application, there should / may be following
features that would make the ‘potential buyer’ more certain to be a ‘customer’ :
 Creation of ratings for both tenant( on his/her past nest away tenant relationship),
and property ( in terms of different fields like location, connectivity, build quality,
user experience etc);
 More horizontal segments in type of accommodation viz ‘bed, room, house’
addition of ‘floor’, ‘couple-friendly’, ‘internship pads’
 More vertical segmentation on the basis of rent amount like Nestaway Room-
Prime(Rs8000-12,000 monthly) with amenities like mattress, cupboard, coffee
table; Nestaway Room- comfy(Rs 5000-Rs8000) with must haves like box bed,
side table, cupboard etc
 Property near-bys can be listed with important contact numbers and popular places
in near vicinity( the places like society market, hospital, mall, famous eating joint
can be listed and ‘listing revenue’ can be generated as well);
 Not to limit the access by smartphone or a computer, with the help of toll-free
number for queries through feature phone and IVR plus BPO managed, non-
smartphone users can be linked up with ‘ nest away team’ to help them find a
rental home,

2. Marketing: Marketing 2017 certainly empowers the organisation to grab ‘eyeballs’ through
a plethora of new mediums riding on digital marketing phenomenon. The ‘ATL’ and ‘BTL’
has now diversified into ‘macro digital marketing’, ‘micro digital marketing’-based on user
clicks and browsing history, social media campaigns, CSR, web-series etc. To increase GMV
for Gurugram territory following suggestions are listed here under:
 Device location based campaigns only for that territory and inventory listings
linked,

Udit Bhatnagar
Home-rental marketplace zonal strategy to increase GMV with focus on and contribution of all the
key functions of the organization

 Inter –app tie-ups with Gurugram’s top apps( web traffic data or user base data)
like food ordering, utilities, services at home apps etc
 Possible tie-up of sponsorships or endorsements with an upcoming web-series.For
example ‘Commonfloor’ sponsoring the TVF’s web series ‘Permanent
Roommates’ story based on Mumbai rent-homes scene. Economically, as the
‘youtube channel stars’ are on the rise in India as well, their average 10 to 15 min
video garnering 1million + views on Youtube, can have in-story embedded ‘app
usage’ and feature highlights,
 In corporate scape, organic hiring months are March-June and somewhat October-
December in a year. Corporate tie- ups with their HR and admin departments to set
up ‘helpdesks and registrations booth’ will help to settle the new-hires or city to
city relocating employees
 Even in popular post grad and graduation institutes, similar drive and tie-ups can
be forged to help the ‘new professionals’ settle in new cities with ease. Timing of
this setup of ‘helpdesks and registrations booth’ can be along with placement drive
in educational institutes.
 In the local territory of Gurugram, sign up necessity outlets owners and most-
visited places like a milk booth, department stores, eatng-joints etc. Bring them
onboard as ‘ lead captains’ where app and web unaware new tenants while
scouting the area in their search of a rent property, will visit them and through
marketing collaterals in place like a poster or a app download QR code etc may
land up on Nestaway. The ‘lead captains’ can have their own small –in app ‘lead
forwarding’ set of templates.
The local sales team will get these leads and aim to convert. ‘Lead captains get a
‘delight’ upon successful conversion.

3. Sales and sales team: The construct of a zonal sales team for Gurugram can be with 3 team
leads and 4 field sales executives (FSE) each managed by TLs.
Sales strategy for a territory should have the following essentials-

 Territory division and target customer on the basis of general and ‘territory -specific
factors
Gurugram to be sub-divided into three ‘patches’ geographical division as well as landlord or
tenant onboarding distinction) planting each TL as owner- Each FSE further assigned
corporate,institutional, retail sales on the basis of past experience or key-skills in order to
contribute each type of business in % shares.

 Customer communication and frequency set-up

At the beginning of your year, look at current customers and targets, and create a plan for
servicing each of these accounts. For instance, a dormant account may need a phone call per
month or quarter. An active, high-volume account may need a weekly in-person visit, plus
regular phone calls.
Once you've assigned frequency, start confirming and slotting in meetings for your priorities
in an order. Top priority accounts once done, fill in gaps with lower-priority accounts and
prospects. Each day, fill in gaps with phone calls and spontaneous meetings.
 Priority set up and follow-up
The Gurugram sales to be divided in weekly targets, monthly targets and up for
Quaterly review. The sub-teams of TLs-FSEs will be monitored and feedback about

Udit Bhatnagar
Home-rental marketplace zonal strategy to increase GMV with focus on and contribution of all the
key functions of the organization

their patch will be processed in to following month’s or quarter’s target vs


accomplishment
 Local area relationship building and deliver
Traditional elements of the society infrastructure like a park, surface parking space
and ‘mom’ and pop’ retail stores relationship development to assist and hence deliver
on more lead generation plus sales operation and BTL marketing.

 Chase the long-term goal


‘The multiple increment of GMV’ is the only goal. All the streams should merge
into this ‘river’. All weekly targets, monthly targets and Quaterly reviews should be
on a fundamental of GMV

 Sales team performance score card


Each sales team member score card in detail of his contribution in the team,
individual effort, key account landing and management and leadership attributes
have to be listed. 15-day one on one review and Quaterly performance review is
planned.

 Efffective client and landlord meetings


Use all resource to learn about your customer. Next, have a plan of attack. Set meeting-
specific goals so you know what you're trying to accomplish in each encounter.

Udit Bhatnagar

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