Indian software products in India have never commanded the same respect as a foreign one. Though India may be one of the largest exporters of software products to the world but back home the condition seems dismal. Recent studies have thrown some light on these issues but more research need to be done so that we can find ways to create a healthy eco-system for Indian software product vendor to thrive and survive.

What are the causes?

Understanding Indian software market is a bit difficult when compared to its foreign counterparts. Here, in India, changing market dynamics compounded with lack of awareness have been major hindrance to the software company to market and sell their ingeniously made software productsWe, at convergence services harness the potential of Joomla CMS and give our clients superior on time services. We have professional who have years of expertise to work on Joomla CMS which helps you and your business grow multifold.

Some of the major reasons are mentioned below.

• Lack of vision and Short-Term Thinking:
  • In India there are only a few success stories in the software product space. The major percentage of the companies is still out of the limelight that they deserve. The cause is attributed to the lack of vision, ambition, perception, marketing, branding, reach, execution and scalability by the Indian software product companies. These companies still struggle to find a perfect ground to use the appropriate marketing strategies and fall short of taking expert local marketing advice
  • Investing time and capital to understand the native market scenario and its requirement is crucial to the success of software product before the actual launch of it but are seldom carried out by Indian software vendors. Few companies have been successful in devising solutions through their experience, and they have been rewarded positively by the market.
• The Demanding Environment of Indian Market:
  • Understanding a product business is vital to create and establish a good product eco-system but contrary to this Indian software product vendor lack skilled manpower with product mindset. We enjoy a high degree of comfort level with project management more than product management.
  • Not finding capital to continue R&D in the product development space due to lack of VC funding is also one of the factors that leads to slow growth in this department.
  • In India most SMEs are late adopter of software product as they look for low cost solutions. Software products being Intangible the willingness to pay for it is very little.
• Piracy: Software piracy is rampant in India this leads to use of pirated version of software leading to decline in the demand of original product. 

What are the Solutions?

• Attitude defines your altitude: Instead of being all-in-one type product lets develop a software product which helps to solve a specific problem and let’s be specialist in that area. It is easier said than done unless we change our attitude it will be a tough road to get to the top.
• Think Big and Think Long Term: Being passionate about the product business is great but you should also have the perseverance to follow the long-term vision. Putting a great team effort and channelizing your energy in the right direction is vital to turn dream into solid reality.
• Understand the Indian Market: Knowing your local market thoroughly can pay you rich dividends. Invest time and capital to understand the software product market in India and offer flexible pricing as per their needs. In India the buying behavior of customer is different from the foreign counterparts. So it is imperative to do a thorough research in this field before offering your software product.
• Focus your way to success: Focusing on your core strength is very important to offer successful software product. Instead of saying yes to everything you should wisely choose resources and identify your market and customer. Choose one vertical and once successful repeat it with other verticals. This gives you a lot of room for improvement and further articulates your product.
• Long Journey begins with a first step: Get couple of customers first and focus on marketing your product to them and offer them win-win proposition and keep them cheerful. Use SaaS model to offer to small and medium sized companies with lower pricing levels. Encourage them to spread word and share success stories in their circle.

In the Nutshell

It takes more to sell software product in India but if right set of techniques are adopted then we can make a real difference. Offering value proposition is the key. The right balance between marketing and selling will take us to the top. Though it is still a distant dream but not impossible.

Source: NASSCOM EMERGE FORUM