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Business Growth Tips Digital Business

Business growth stages through digital marketing

How bad has this pandemic affected your business growth? Whether you’ve been in the industry for years or you may be a new entrant, there is always scope for growth. There is always scope to widen your network.  The options for business growth, in particular, are endless but the need of the hour keeps changing. In today’s time, the need of the hour is growing online and marketing your business digitally is the most effective way of business growth.

If you are new to this concept and wondering what to do and how to go about, then this blog is for you. It will talk to you about the steps you need to take one after the other till you achieve your ROI.

#1 SET YOUR GOALS

Everything has a purpose of its own. Similarly, every business has its own goal. Analyse what you want to achieve by going digital/by using a digital platform. Your goal will depend on your business model.

Different types of goals can be like, building brand awareness, generating more sales, follower growth, increasing conversions, beating competition etc. Understand what your business wants to measure? Figure out your key performance indicator. Below is an example of how you can work on your first step.

Example – Let’s say the goal of your business is to – generate sales.

The catch over here is you need to know where your audience concentrates. So that brings to your Key Performance Indicator i.e

KPI – Measuring Conversions

These can be simply calculated by taking the number of conversions and dividing them by the total of ad interactions. 

So here, the first step is all about identifying the goal and the key performance indicator for the campaign.

Be one of those Goal diggers!

#2 IDENTIFY YOUR TARGET MARKET

Before building and implementing, identify the group of people whom you want to sell your product/ service to.

Understand the demands of your target audience. Once you identify the target market, you will be able to make the content that can resonate with them. Start this step by identifying the target audience demographics. Age, gender, location and interests. Use tools like Google AdWords to know more information about your target. Plan your strategy according to your audiences demand and interests.

While doing so, also keenly keep in mind about your competitor’s growth strategy. Identify the online tactics that worked well with them with a similar target audience. Learn from their mistakes. Bring out an element that helps you stand out when compared to them.

Know the group you want to catch hold of!

#3 BUDGET PLAN RIGHT

Once you are done identifying your goals and target audience, set your budget for growth. Plan your first step of execution to meet the end goal, define your budget. Digital marketing is the cheapest form of advertisement when compared to traditional methods. In case you plan to hire a digital marketing agency, you also need to budget your income to pay for their services apart from the ads you will be running on Facebook or any other platform. Breakdown your requirements. Keep in mind that digital marketing is a combination of software and manpower. You need to allocate your budget keeping all the combinations in mind. And keeping the current 2020 situation in mind, budgeting is considered as an important step above anything else.

#4 SELECT YOUR CHANNEL

Understand the various types of digital marketing. Once you are through it, you will be able to understand what kind of service best fits your business. You will want to utilise as many channels as possible. Choose the right options and strategize. A combination of marketing channels when chosen and utilised properly can result in a strong strategy. Never use the same channels you choose for a B2B (Business to Business) in a B2C (Business to Customer) strategy. The trick to choose the right channel and the right platforms are to do the right homework in step 1 and step 2. Your various kinds of channels can be SEO, PPC Ads, Content marketing, Social media marketing, Affiliate marketing, Email marketing, Display ads, Video ads etc.

Choose the right medium.

#5 IMPLEMENT YOUR STRATEGY (Run campaigns)

Once your channel and platform are chosen, plan your work strategy (flow).

If you are planning on

·    Google ads/ SEO

You need to do strong keyword research. The right keyword is going to get your users to your product. To analyse the right keyword you need to put yourself in the customer’s shoes.

·    Ads on Social media (Facebook, Instagram, Pinterest, Twitter, LinkedIn)

Out of these, Facebook is the most popular one. Create an advertisement that can resonate with your audience and where your audience is most active. It’s always a piece of good advice to start small and scale up slowly depending on insights.

·    Email Marketing

A method to reach your customers at a relatively low cost. You can use social media to collect emails and build your brand using emails. Email marketing can be facilitated by the use of automation.  Automation can be used to welcome users, thank them for joining your brand family, update them if they left something in the cart or update about new/limited collections. Automation can save a lot of time.

·    Remarketing

This strategy should be adopted to catch hold of those customers who slip through the small gaps. You should have this strategy as a must-have on your list.

·    Blogging

Blogging is considered as one of the best organic ways to achieve brand awareness/ brand traffic. Keep your blog as engaging as you can. Because longer the time your user spends, higher the chances for you to rank.

#6 MONITOR AND ANALYSE RESULTS

Know what worked best, know what mistakes you made. Attract, convince, give them curiosity and make your customers of all in love with your brand. The work doesn’t stop once you get your campaign in place and get clear insights of where your actions are leading. Analytics and monitoring the campaign using key performance indicators and figuring out if we earned the ROI we expected is the catch. Measuring the effectiveness will help us understand what works and what doesn’t. Shift directions if it’s needed. Effective marketing is not just about staying the course. Even if the goals are met you have to continuously work on the strategies to sustain your position.

Digital marketing has no endpoint, its an endeavour with different variety of results. There will always be new algorithms, channels, platforms and strategies. You need to strive to keep your pace up in the marketing game. Follow us on Instagram and Facebook to keep up with your knowledge pace. Because

“For business and life, if you are not experiencing growth, you’re possibly dying”

-NKEM PAUL

Categories
Business Growth Tips Digital Business

The Ultimate Ways To Social Proof

Have you tried Kylie’s skincare collection? It’s so good!! Now, this is WORD OF MOUTH! And any form of word of mouth done on a digital platform is social proof.

Hope I got you there!

Ask yourself, When you scroll through a website and you see an industry expert giving their view, don’t you gain the trust?

Yes, you do! Because that review comes from a genuine person and that persuades you to buy the product.

Social proof is an old concept in itself but the rise of social media and its influence shows that it is a great marketing tactic.

Social proof is a term coined by Robert Cialdini in his book, Influence released in 1984. It is a book that throws light on a psychological and social aspect where it shows that people tend to copy the actions of others to undertake a certain kind of behaviour in a given scenario.

Back in those days, the social proof was of these types. You can see how testimonials were used to gain more trust for the brand.

Source – Google

But with the advent of social media, social proof has taken a whole new level. Here are a few examples of how social proof has taken the poll in modern times.

We see how the customer reviews, ratings and images are given on point.
Testimonials given by customers on landing pages.
Word of referral game going strong!

So have you now understood why social proof works so well?

From what you have read above, you must have now understood that social proof

  • Builds trust in your brand.
  • With the trust earned, it lets you build a community for growth.
  • It allows your customer to gain more confidence in your product/service.
  • It gives your business a chance to incorporate the voice or the opinions placed by your customer.
  • Last but not the least, social proof carries more weightage than the message presented by the brand itself for their product/service.

So many perks of one marketing tactic, that is SOCIAL PROOF. It can be done in multitudinous ways bringing in extensive results.

When we talk about social proof, we also need to understand that there are a few standard types of social proof.

These types can be followed based on what your business requires.

Let’s understand the six types.

1.The wisdom of a friend

A word of mouth coming from someone from our known circle is always considered.

2. The wisdom of the crowd

This is to show how people in the group think as a whole and attest to the same opinion.

3.Certification/Verification

A verified or certified account always catches attention and trust like no other.

4. Expert opinion

Social proof coming from the influencers or an expert in a particular field.

5. Consumers opinion

An opinion coming from the user’s end.

6.Celebrity opinion

The strongest form of influencing strategy engaging a large crowd. 

Below is the list of how you can achieve these social proofs and get the best reverberation for your brand. 

1. Reviews and testimonials of your product/service

This is one of the strongest and the highest form of trusted social proof method. Ask for reviews to your customers as it helps you to attract more, stay appreciated in their eyes and above all it benefits your SEO. The review can be done in countless ways. Short feedback forms to know their opinions, one-click star ratings, adding incentives when they leave a review etc. Know what fits your business well and engage in it.  

Source – Google

2. Use social proof on your ad copy

You might think that this is a very conventional approach, but do not forget OLD IS GOLD. Using a testimonial or a review of your customer on your ad copy makes a big difference on the first impression. It catches attention, makes the consumer curious to know more about your product/service and somewhere also increases the CTR (click-through rate).

Source – Google

3. Influencers take-over

The power of influencers has been taking the poll ever since the madness of social media has begun. You can invite influencers who are expert in your particular field/niche to come and take over your and interact with your followers for a day and give your products/service their opinion or review on it. This way you engage more audience to your wall and give them an overview of your business. And a review coming from an experienced person is always well noted and taken into account by the consumers.

Source – Google

4. Exclusivity

FOMO (the fear of missing out) is real and motivating. When a resource is scarce, our caveman brains tell us to act fast and thus create more demand for the product/service. This can be an extremely smart strategy for small growing business brands. You may not have the resources to produce massive runs of each product or ship on demand. Reframing this limited availability as a feature for your brand can add more significance to it.

Source – Google
Source – Google

5. Acknowledge your mentions

Every time you get featured, get mentions, tagged by some big brands, by experts or users show appreciation to them. The more you acknowledge, the better your social proof.

Source – Google
Source – Google

6. Celebrate milestones

Every time you reach a particular number of followers, reach your target for the campaign, receive great responses on campaigns, achieve a particular number of downloads of your app, CELEBRATE IT!! Thank your audience and pay gratitude to them as they are the ones who help you reach these milestones­­­­­. Showing gratitude this way is another form of great social proof. Do not let them go and keep them engaged throughout!

Source – Google

7. User-generated content

Your products and services are loved by your users! They cannot help but get benefitted by your product as much as they can. They show their love for your product/service on their social media platform. CATCH IT RIGHT THERE!

This is yet another master blaster idea for social proof. Share the content created by your users on your wall and show the audience that YESS, YOU ARE LOVED, YOU ARE TRUSTED!!

8. Social proof on Facebook

Get your customers to like your product, share your services and comment down about their experiences on Facebook. Facebook is a vast platform and has great impressions when the marketing is done right. A small gesture like a ‘Like’ also can do a good job of social proof for your business. Keep your customers rolling, know more about their opinions, ask them to get in touch with you on Facebook cuz why not? Who is not on Facebook these days? 😉

Source – Google

9. Mention the size of your trust bond

You can give a good example to the wisdom of the crowd by mentioning your customer size in your profile bio.

If you have a large customer size, shout out to your loyal customers. This way you also attract more customers as they see a large audience engaged in your business. The first impression in your consumer’s eyes is set right there and your business gains more loyal customers.

10. Referral marketing

This technique is about how your existing customers can help you gain more new customers daily. A recommendation from a known person is always taken into account. This is a valuable form of social proof and marketing tactic and falls under the wisdom of a friend type of social proof.

Source – Google

In the above image, you can see how the brand has asked the customers to refer/invite friends so that they can market the product and thus provide some awesome social proof.

Do social media better, faster, and smarter with labdhiijain.com. Now that you have a ton of ideas for how social proof can benefit your brand, it’s time to start incorporating them into your marketing strategy. You’ll be harnessing the power of the crowd in no time!

Categories
Digital Business

Top 8 reasons why your business should go digital

In a world that is moving so fast, with everyone completing tasks in a click of a button, what do you feel that you have been missing out on? Technology is one sector which has the most impactful transformation on today’s youth. Right from your morning alarm to the last meal of the day you ordered, everything is digital. Digital is the second nature of every potential human being out there. When your daily routine can be so simplified, then what’s the harm in transforming your business to digital? 

Digital business as we all know is the way to connect, collaborate, evolve and build bridges between people. For the current scenario, Digital transformation has become the most fundamental way for the sectors to outshine. We all need to evolve to fit into the fast-moving landscape of business. Digital Marketing or Digital Transaction Management (DTM) is the modern method of dealing business. It is fast, accurate and secure.

Just not this, here are some more reasons as to why your business should Go Digital now!

#1 Lower operating costs in business

Operating costs are nothing but the costs that are levied to maintain the existence of the business. Right from the papers, pencils erasers needed to maintain documents to an entire room required to store these files. There are a lot of expenses to run a business. Digital Marketing can save you a lot of money. With good digital marketing, you can improve ROI to a very high percentage. There is so much more to this experience other than just saving money. To find out, Go Digital. 

How satisfying is it when you can save more and spend less? Yeah you’re right! Digital Business has got your back.

#2 Facilitates hours of operation

A 9 to 5 job is something that gets hectic and eventually leads to an unbalanced state of mind. Digital transformation is the best solution for you to work stress-free and get your work done on fingertips! Your work pressure is reduced as most of the task is automized. This way you reduce traditional pitfalls, avoid errors, breakages in the process get your work done hassle-free. 

Trust me, you can even multi task by going digital.

#3 Boost your reach 

Want to grow your connections or wondering how to branch out your business to other cities? You’ve found your solution just on time!  Digital marketing is a platform that allows you to get your hands in every nook and corner that you cannot reach physically. It allows you to get acknowledged by that target group of audience that would have been searching for you but couldn’t connect to your business because of geographical or any other reason. Digital marketing eases out the ways for you to connect to your partner right from planning, connecting to execution. 

#4 Business gets fun! 

Who doesn’t enjoy a workplace that has the right amount of balance between work and fun!? Setting up your business online will not only make your sked trouble-free but also ensure that the process keeps you engaged thoroughly. 

#5 Improves efficiency  

Going digital will not only ease your daily routines but helps you and your team to work more efficiently. With no time limitations and with no hassle in keeping up with heavy accounts, as a whole you tend to achieve more targets. When your work gets automated you invest your time and energy on making sure that you are just not delivering quality but ensuring a great quality too! Digital transformation helps you to keep a record of your marketing reach that you could not have achieved by physical marketing. This gives you a whole lot more idea about your reach and helps you understand the demand better.  

#6 Seamless customer experience

Digital marketing is a platform that allows you to understand every customer that gets in touch with your business. You get to know your customers better, their tastes, preferences and demands. This way you establish a one on one relationship with your customer and ultimately get a chance to get hold of a promising number of customers. 

#7 Increasing profits 

With great quality comes customer satisfaction. Digital marketing with the right planning and execution gives you the utmost outcome. Digital marketing transforms the perception of your customer towards your business. This way you will improve your overall profitability. 

#8 Going digital will reshape your business this pandemic season

Well, there is a very famous saying that says “Health is wealth”. The outbreak of virus had not only set fear in the minds of the people but has affected a large percentage in enormous ways. The virus has pushed the economy of India off the cliff. Be it small or large, all kinds of business companies have been affected. As we try to stabilise and try to get our people back on track, we can transition ourselves to the digital world! With the numerous ways of transforming into digital, we can strategise, plan, take right decisions and work on real-time improvements. Stay home, Stay safe, #GoDigital.