My Local Pitch: Sales Strategy - Essay Example

Sales Proposal of the of the of the college Table of Contents Table of Contents 2 INTRODUCTION 3BRIEF INTRODUCTION OF MYLOCALPITCH 3 MARKET ANALYSIS 4 TARGET MARKETS 5 SEGMENTATION 5 POSITIONING 7 THE STYLE AND CONTENT OF THE COMMUNICATION 7 THE CHANNELS AND FREQUENCIES 9 THE MONITORING MEASUREMENTS 10 THE APPROXIMATE TIMESCALE 11 ESTIMATION OF A BUDGET 13 CONCLUSION 14 List of References 16 INTRODUCTION This sale proposal aims to present the offer of “my local pitch” web-based service to Madrid based clients. Sale proposal is an idea that is presented in front of clients by sale professionals in order to get their ideas clearly. Sale proposal is an important tool and written pitch that includes presentation of new ideas services, and products in order to build the interest of clients through educating them. Sale proposal elaborates and demonstrates the benefit of product or service to the customer. The benefit of sale proposal to the client is that they can observe the black and white of project. Moreover, the introduction of the project presents three significant components such as sale proposal elaborates the potential clients regarding novel ideas, service, and the product. The second argument that is made by sale professionals in favour of sales proposal is that this service is mandatory and beneficial for them. Last, but but not the least is that it is important and mentioned in sale proposal is to enhance the expectations of project success (Wise Geek, 2015). Sale proposal is the integral part of successful sale deal; it is a pitch that allows sale professionals to land either new or prior business (PandaDoc, 2015). BRIEF INTRODUCTION OF MYLOCALPITCH Mylocalpitch is an online platform that has been set up by fans that are passionate about sports. It also represents fans that have struggled for a long time to encounter the places across London they can play in; namely Sanford Loudon and Jamie Foale. The major aim of this platform is to allow players to grasp the information regarding the closest sports facilities from their home, hence, allowing them to book easily these facilities online and can enjoy the sports passion anywhere in London (Mylocalpitch, n,d, a). In addition, with the aim to be the one-stop shop for London residents, the website is focusing on 13 sports that are major and will continue to add more as will grow. The website is also searching for courts and pitches so its clients can make a purchase of sports equipment via online mode of shopping. Companies that offer sports services and advertise at my local pitch platform and can maximize their business (Mylocalpitch, 2015). MARKET ANALYSIS It is essential to know the market to which the proposal is being presented. This proposal is not being written in response to RFP (Request For Proposal); therefore it has become pivotal to take the market research into consideration. The market research is vital in a sense that after recognizing market needs and competitors, a better sale proposal that fits the needs of customers can be presented (PandaDoc, 2015). In Madrid, sport facilities are many and people, not just residents but tourist as well spend their time in those facilities in order to keep their self-fit and fulfill their passion for playing games (Madrid by Europe-Cities, 2015). It has been determined that the poor people in Madrid are more attractive towards physical activities, football is a national sport and enjoyed in Madrid immensely. Sports facilities vary in Spain; there are several private sports centers in resort areas and cities. The cost for participation in sports in Spain is lower as compared to other countries of European Union. Also, sports facilities immensely improving in Spain. Madrid being the capital of Spain has a potential for businesses that provide sports related information to customers. Most of the improvements that have been made in the sector of water sport, skiing, and golf particularly. According to an article, people in Spain are lying back as compare to other countries in term of sports activities, but improvements are taking place. The most famous sports include soccer, tennis, basketball, golf, athletic, and cycling. In addition to this, other sports that are popular in Spain include handball, hiking, swimming, horse riding, motor sports, hunting, squash, and volleyball. Spain is the Mecca for sailing, windsurfing, waterskiing, and water sports enthusiasts (Just landed, 2015). Madrid is known as a home of two very famous football clubs that are known in the world by the name of athletic de Madrid and real Madrid. TARGET MARKETS Sports market is competitive in almost all countries in the world (McDonald, Milne & Hong, 2002). Due to increasing concerns regarding health and increased disposable income, people are spending more on recreations and leisure activities (McNeil et al., 2005). The strength of sports industry has great potential to grow. According to the report The citizens of the European Union and Sport (2004), 37 percent people play sport once in a week that showed 45 percent increased in 1 year (Eurobarometer, 2004). The current population of Spain is 46.39 million and the population of Madrid is 6.5 million. This in turn makes it the third largest city in EU after Paris and London (Statista, 2015 and WPR, 2015). The population indicates that my local pitch can target such an immense audience. The trend of sports centers is increasing in Madrid (Country Meters, n.d) SEGMENTATION Market segmentation is about separating heterogeneous and large market into homogeneous segments of individuals who have similarity in motivation, needs, and demographics; to whom the service will target. Market segmentation serves a conceptual framework on the basis of which service providers like mylocalpitch.com formulate the promotional strategies. The target segment of the company will be based on consumer motives. It has been determined that women are less competitive than men and older as compared to young. Young people take sport as leisure and exercise and adopt to improve their physical appearance and to reduce problems such as coronary heart diseases, high blood pressure, and obesity (Luna-Arocas and Tang, 2005). The target market of Mylocalpitch.com will be will be divided into three segments: individuals, sport service providers, and corporations. Mylocalpitch.com will target young people who want to be healthy, want to maintain their physical appearance, and have passion towards sports. The company will not target any specific gender or age of people, services will be provided to all from the age of 15 to 65. The company will target all those centers and institutes that provide sports services to customers and will allow them to place their advertisements. The company will target people who are interested in sports but due to the factor of time and place, they are not able to participate in such activities. For example, people with limited time for searching out playing field or people in search of playing field nearby ones’, can benefit from the website. Mylocalpitch.com will also target corporation that are interested in conducting sports events but not able to find out the better place near their business. The unique thing about this website will be that this website will allow pitches through which sport service providers can offer their services to customers and customers can choose their favorite deals (Costa & Miragaya, 2002). It has been found that sports players have to face difficulties and require long time to organize sports activity, but the innovative approach of my local pitch will dispatch this problem to the book of history in Madrid. People or organizations want to book venues for sports will find the booking easy as to book a restaurant. The Madrid-based website will provide the information regarding all sports places that exist in Spain (GetWest London, 2014). POSITIONING Positioning is the set of activities or a process that facilitate to figure how a service is perceived by the target market. My Local Pitch will present itself as a larger, reliable, and quick sports service provider. The company will position itself as the closest to serve the needs of people who love sports but could not find place to consume their passion. THE STYLE AND CONTENT OF THE COMMUNICATION In order to be successful in a new market it is essential that the strategy of the business is communicated effectively. It is pivotal to tell customers that why the organization exists and what are the benefits they can gain by connecting with the website. To promote web-based services, brings several challenges with it; bringing people to find the website and purchase services of goods through the website is not an easy task. The content development is an important task while preparing to attract the new market. In order to attract people who are interested in sports “My Local Pitch” will place ads that will elaborate the perfection in sports information. The company will communicate that My Local Pitch provides its customers with centers that make people perfect in their interested domain. Selection of communication context is an important issue. In case the style of communication does not fit to the culture of the country then the chances of failure get high. Companies that are involved in global expansions are obliged to be aware of the context in which companies are operating for the sake of providing the right perspective. It has been determined that the culture of Spain is in between the low and high end, therefore (Mooji, 2013), direct communication style with personal pronouns “we or you” will be used. In order to be successful and communicate the purpose of existence, low context communication will be used. Low context communication will allow “My Local Pitch” to have direct and constant communication with customers. Low-context communication is based on precise, open, dramatic, and true intentions Nishimura and Nevgi Tella, 2008). In order to attract business-based customers such as people who are sports service provider, specified pitches will be designed and run. The sense of sincerity will be communicated through communicating them that my local pitch is with them. For example, the advertisement with wording “Arriving New Heights Together: we know that to be at top is not easy always!!!. My local pitch will support you at every inch of the way, you can trust us for our exceptional customer services and effective and fast solutions that will help you to react at the top”. Such statements will motivate sports centers or organizations to utilize the platform for their pitches. The poster mentioned above is also an effort to attract the customers and to elaborate the purpose of “my local pitch” existence. THE CHANNELS AND FREQUENCIES There is a wider range of channels through which “My Local Pitch” can reach an audience such as social media, television, radio, print media, and mobile. Communication channels and frequencies play an immense role in the success of any business because channels are the only medium to communicate the services to customers a therefore selection of communication channels should be wise. It has been determined that the newspaper reading has decreased in Madrid, therefore; newspaper advertisements will not take place. More than 90 percent people in Madrid watch television. Hence, advertisement on television will be successful in catering the attention of mass audience. Television-watching trend is not limited to homes, instead cafes and bars cater televisions as well (Press Reference, 2015). The second medium that will be used to communicate service will be social media because more than 70 percent population in Madrid use internet frequently. Therefore, the best channel to reach the wider audience will be social media (INE, 2011). Frequency refers to the number of times the ad will expose to customers, at beginning level it will be essential to spread awareness. Therefore, billboards will be placed on streets, advertisement at television will take place multiple times in a day and this trend will continue to 3 month. Radio pitches will take place same as television but for two months (Lee, 2014). It has been determined that Twitter channel is the most responsive channel. Therefore, \placement of advertisement at Twitter take 18 minutes to get response and reach and its peak of engagement; however, Facebook takes 90 minutes that is four time longer than Twitter. All social media channels due to low cost and frequent reach - as compared to television and print media - will be used. Ads will take place in hours when most of the audience will be online (Lee, 2015) THE MONITORING MEASUREMENTS It has been determined that online service companies find difficulties to measure the success of a social media advertisement. It is essential to monitor the success of the business through measuring the success of advertisements. The best measure is to collect the data that from the medium through which organization is getting major responses. This implies the identification of the channels company can attract customers more, the more likes and followers means the channel is responding successfully. However, these are the short time success measures in order to encounter that what channel is most responsive to the advertisement it is essential to measure the reach of the organization, which means measuring that how many people organization has impacted with its message. The positive impact will result in increased return on investment. The reach estimation will serve the organization with understanding that what channel to be used for advertisement at a constant level. The measurement of react can be traced through keeping the track of LinkedIn connections, followers on Twitters, visitor of a company blog, subscribers and views on YouTube channels, and likes on Facebook. The decline in likes or comments and retweets refer that something is going wrong. Therefore, the company needs to change its selling pitch. In order to engage customers monitoring measure are important and in the result of the failure, the company should redesign its messages. Here it has not been suggested that the company should measure its social media success purely through its return on investment because this is the long-term effect. In order to observe the success on the immediate basis, it is essential that immediate measures be taken to monitors the success. If the pitches are not successful, then the business as well. Therefore, in order to measure the success of the business it is vital to monitor and measure the success of sale pitches. The engagement matrix to track the success can be used as a measure. For example, a person may like the post but does not come again to the website. The clicks on the post imply that the post is attractive. Additionally, direct messages and retweets will ensure that customers are engaged. The more the shares will take place the more business will grow because the company will be able to market itself. The higher rating on YouTube videos and comments on the blog of the website will ensure the future success of the company. This is because this will not communicate that the sale pitch is interesting but also communicate the volume of the audience that will acquire the services of “my local pitch”. The final stage is to measure the impact of social media on company business; the conversion from comments to the acquisition of company services will be the evidence of success ((DeStefano, 2015). In order to enhance the engagement that will lead to increased business, the company will offer deals to their customers. For example, the company can offer free football booking in partnership with its another client (a sports service provider). In this way, the company can engage both individual and sports business segment. There are several ways to engage customers for the business increase. For example, the company can present weekend discount offers to its customers who do not have time to enjoy sports in working days (My Local Pitch, n.d.b). THE APPROXIMATE TIMESCALE The time that a project will take to be successful is pivotal to estimate, and it is essential that how much time will be spent on activities are measures in advance. The legal requirements will take two months to complete,. Website formulation is an important task and shall offer the user with the flexibility, ease of use and good service experience. Hence, the web formulation will take 3 months for its effective formulation. The content must be engaging that can attract customers and, therefore, a wise strategic formulation is pivotal that will take at least two months. After the formulation of strategies, implementation will take place, and it has been decided that Facebook and Twitter due to their immense utilization ability to gain immediate responses will be used on a constant basis. However, linked in will be used for seven months because it is not the medium that can get most responses. The television advertisement will take place for six months initially. In order to gain the attraction of mass, billboard due to its cost will take place for three months, and radio advertisement or sale pitch will take place for four months. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Legal requirements Website formulation Marketing strategies formulation Face book Twitter Linkedin Television Radio Billboard ESTIMATION OF A BUDGET Startup funding Start-up expenses 200000 Startup assets to fund 48826 Total funding required 248826 ASSETS Non-cash 5650 Cash requirements 59325 Cash balance on starting date 59438 Total assets 124413 Liabilities and Capital Liabilities Long term liability 0 Account payables 1130 Other liabilities 0 Total liabilities 1130 CAPITAL Planned investment 163283 Loss at startup (40000) Total capital 123283 Total capital and liabilities 124413 Start-up requirements Legal 1000 Sale campaigns 10000 Dynamic communication fees 6000 Phone lines 1000 Hardware 32000 Software 35000 Total start-up expenses 85000 Start-up assets Cash requirement 39413 Other current assets 124413 Total requirements 248826 CONCLUSION The sale proposal is a selling pitch to customers that can attract them to buy the service. It is essential to expand the business that the selling pitch of the business is attractive. In this proposal, it has been determined that the market of Spain is attractive for the online sports service business because this business is associated with the demand of the sport. If the demand for sport is high in the country and people prefer to take it in their life then the scope of such organization that provide information regarding sports venues and serve with services is good. It has been determined that due to healthy lifestyle preferences people in Madrid are adopting sports as a leisure activity, therefore, the demand for sports activities is increasing and growth of the related business as well. List of References Country Meters. (n.d). Spain Population. Retrieved May 7, 2015, fromhttp://countrymeters.info/en/Spain da Costa, L. P., & Miragaya, A. (Eds.). (2002). Worldwide experiences and trends in sport for all. Meyer & Meyer Verlag.. De Mooij, M. (2013). Human and Mediated Communication Around the World: A Comprehensive Review and Analysis. Springer Science & Business Media DeStefano. B. (2015). How to Measure Social Media Marketing Success. Retrieved May 7, 2015, from http://www.svmsolutions.com/resources/articles/how-measure-social-media-marketing-success Eurobarometer, S. (2004). The citizens of the European Union and Sport.Summary. European Commission. Retrieved May 7, 2015, fromhttp://ec.europa.eu/public_opinion/archives/ebs/ebs_213_report_en.pdf GetWestLondon. (2014). Preserving the Olympic legacy for Brent. Retrieved May 7, 2015, fromhttp://www.getwestlondon.co.uk/sport/other-sport/preserving-olympic-legacy-brent-6519076 INE. (2011). Survey on Information and Communication Technologies Equipment and Use in Households. Year 2011. Retrieved May 7, 2015, from http://www.ine.es/en/prensa/np678_en.pdf JustLanded. (2015). Sports in Spain Sport facilities and information. Retrieved May 7, 2015, from https://www.justlanded.com/english/Spain/Articles/Travel-Leisure/Sports-in-Spain Lee. K. (2015). The Social Media Frequency Guide: How Often To Post To Facebook, Twitter, Linkedin, And More. Retrieved May 7, 2015, from http://www.fastcompany.com/3029019/work-smart/the-social-media-frequency-guide-how-often-to-post-to-facebook-twitter-linkedin-a Luna-Arocas, R., & Li-Ping Tang, T. (2005). The use of cluster analysis to segment clients of a sport center in Spain. European Sport Management Quarterly, 5(4), 381-413. Madrid Europe-Cities. (2015). Sport Facilities in Madrid. Retrieved May 7, 2015, fromhttp://www.europe-cities.com/en/618/spain/madrid/entertainment/sport/ McNeil, C. M., Ablondi, J. M., Rutgers, H. P., & O’Kane, A. (2005). The IHRSA European Market Report: The size and scope of the health club industry . Boston, MA: International Health, Racquet & Sportsclub Association. My Local Pitch. (n.d.)b. Weekend Discounts on Green Fees at Finchley Golf Club. Retrieved May 7, 2015, fromhttp://www.mylocalpitch.com/London/deal/finchley-golf-club-weekend-deal/10 MyLocalPitch.com. (2015). Advertise a sports deal on MyLocalPitch.com. Retrieved May 7, 2015, from http://www.mylocalpitch.com/deals/advertise MyLocalPitch.com. (n.d.)a. My Local Pitch Videos. Retrieved May 7, 2015, fromhttps://plus.google.com/+Mylocalpitch/videos Nishimura, S., Nevgi, A., & Tella, S. (2008). Communication style and cultural features in high/low context communication cultures: A case study of Finland, Japan and India.In Renovating and developing subject didactics. Proceedings of a subject-didactic symposium in Helsinki on Feb. 2(2008), 783-796. PandaDoc. (2015). How to write a Sales Proposal that Rocks + FREE template. Retrieved May 7, 2015, from https://www.pandadoc.com/how-to-write-a-sales-proposal Press Reference. (2015). Spain. Retrieved May 7, 2015, from http://www.pressreference.com/Sa-Sw/Spain.html Statista. (2015). Spain: Total population from 2010 to 2020 (in millions). Retrieved May 7, 2015, from http://www.statista.com/statistics/263751/total-population-of-spain/ Wisegeek. (2015). What Is a Sales Proposal?. Retrieved May 7, 2015, from http://www.wisegeek.com/what-is-a-sales-proposal.htm#comments WPR. (2015). Madrid Population 2015. Retrieved May 7, 2015, fromhttp://worldpopulationreview.com/world-cities/madrid-population/ Read More