Meesho, an Indian-origin reseller marketplace, was founded in late 2015 by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal. The company is creating the next big online distribution network for homepreneurs. It enables individual resellers to market their products through Whatsapp, Instagram, Facebook, and other social channels. With the motto of “Make Resellers Successful”, Meesho is empowering the livelihoods of millions, who had so far been waiting for a shot at independence and success.
Operating on a reseller base of over a crore, Meesho is spread over 5000+ cities and towns. In June 2019, it became India’s first-ever startup to secure funding from Facebook.
While resellers play on the front-foot and act as Meesho’s backbone, they are firmly backed by suppliers (also called vendors) in the back-end. Meesho acts as a medium connecting the suppliers and the resellers, where the suppliers take their inventory online and the resellers market those products to the end-user.
With suppliers in such a key role, the company found it challenging to keep them committed.
Meesho’s Senior Business Development Manager- Inside Sales, Saurabh Sudhanshu Tripathi explains the challenge, “Inserting each and every supplier’s detail in an excel or google sheet and keeping them up-to-date consumed most of our time. The process was tedious and affected the productivity of the sales team due to which the supplier onboarding process was suffering.”
With the disintegrated and manual process, it was difficult for the team to align their efforts.
Finding the Right Supplier Onboarding Platform
Meesho has always been at the forefront of new opportunities. While expanding business in 2018, it became a challenge to manage all the processes together. They wanted to help their team embrace the change and become more efficient.
Saurabh explains, “With the company expanding and the team growing, it was clear to me that we needed a tool to help us achieve results quickly. We needed a platform where we could keep our suppliers engaged so that the onboarding process becomes easier for our team members.”
While looking for supplier management software in a sea of competition, we discovered LeadSquared.
“One challenge that we wanted to address in the first place was Adaptability. We wanted a tool that was user- friendly and could make the process easier for our supplier engagement team. When we started the search for different platforms, LeadSquared was my first port of call. It was our first pilot project, and we thought we were good to go with it.”
Meesho’s Winning Sales Strategies Using LeadSquared
After moving to LeadSquared in late 2018, Sudhanshu and his team began to align Meesho’s strategies around the software.
Aligning the Supplier Onboarding Process
The first task was to train the sales team with the features of LeadSquared. With LeadSquared’s Customer Success team’s support, the process was relatively painless.
The next step was to integrate the major channels with LeadSquared. Once a new supplier lead is captured, it gets added to LeadSquared. The onboarding process begins with the auto-distribution of the leads to the salesperson depending on the city or region they work in. The salesperson gets notified for the same.
Once that happens, the agent makes his first call. Depending on the call-type, future tasks and followup reminders are automatically assigned to the agent.
“We don’t have to worry about notifying each salesperson to keep track of their activities. LeadSquared does it for us. The entire process has become transparent.”
Documentation and Verification plays a vital role in supplier onboarding. Relying on a fractured manual process and complicated requirement gathering made the supplier onboarding process repetitive, labor-intensive and time-consuming.
Before signing up with LeadSquared, Meesho’s Finance team found it difficult to pick all the documents from Google Drive, verify it and then push it back to the drive. Now with LeadSquared’s direct integration, the documents get directly pushed for verification, once they have been uploaded.
Supplier Onboarding Journey Tracking
Tracking everything on a google sheet was exhausting and laborious. Pulling out reports and sending them individually to the Team Leads did not make sense. This is where LeadSquared came into the picture.
They are now able to track the entire supplier onboarding journey from start to finish, leading to monumental hours saved across the sales team. This enables the teams to focus on more value-adding areas.
“The tracking has become a lot easier. We have the complete insight of when a lead is being assigned, what activity has been posted and how many touchdowns are done by each salesperson. With LeadSquared, the number of suppliers on-boarded on a single day by a salesperson has increased.”
The LeadSquared Results
Meesho has achieved great results in just a short span of time.
With an increase in productivity- reliability, availability, and performance have scaled while the response time has reduced immensely.
In a nutshell, they have cut off the manual process and moved towards a more targeted approach. They are able to have much more personalized and proposed interaction with each supplier. Information moves across the teams faster and effectively, while automating most of their tasks.
Where an individual salesperson took around 8-10 mins to fill in the required details of a prospective supplier, with LeadSquared it just takes a minute. We are very pleased to see that the productivity of the team has increased to 70% from an earlier 5-10%.
Next Steps for Meesho
With a mission to create 20 Million entrepreneurs by 2020, Meesho aims at expanding its relevant offerings to multiple other markets across the world.
“LeadSquared has various features that are still left for us to explore. We are looking forward to using them to make our process even better. This is just the beginning. With multiple plans to scale further, the Meesho and LeadSquared partnership is one that we are keen to continue throughout our way.”