Category Archives: Marketing Tools

Important Steps for Keyword Analysis in Google AdWords

Whether you are writing a blog, content, title, description, campaigns, videos or performing any other promotional activities for your website, all stated activities will not work well unless you know the right keyword.  Keyword is the query or search term triggered by the user, it occurs when a user look for any information or wants to buy some stuff on web. If you want to find right keywords you need to think from the perspective of user. Why is the user triggering this keyword, what makes him to do that and all such possible questions  which can lead him to visit your website all come under keyword analysis. And that is why content writing has to perfectly integrated with appropriate keywords.

Google AdWords provides a keyword planner tool that gives us a right direction in the journey of keyword analysis. When We  enter  the potential keyword into keyword planner tool , its search volume on the web can be found for the selected time period, and also how much competitive this keyword is. Keyword analysis is a long process from the embarkment of website to endless promotional activities. so,  even if you are website has been completed, your keyword analysis will still be on. Let’s discuss some important steps for keyword analysis –

If an ecommerce website is planning to increase its sale, its first step will be to increase its visitors or its online presence over web.

How will a visitor find you on the web?

Let’s say you are selling bottles online.  visitors may approach your website by triggering search terms such as bottle, water bottle etc., These are known as keyword for your website. To improve your online presence you need to include potential keywords into your website content.  Now, our next step is to find out what keywords people are generally searching most or volume of related keyword. Here, the role of keyword planner tool comes –

 Keyword Planner Tool – 

Find New Keywords & Search Volume Data

In the keyword planner tool you will find a search box in which you can enter your keyword and get its search volume. Considering the keyword “bottle”;  average monthly searches for keyword bottle is 165,000 as shown in the figure, meaning that 165K people are searching for “bottle” in a month. This gives you a basic idea about your visitors.

Keyword by Relevancy – Along with keyword “bottle”, the planner tool also suggests  related keywords or keywords by relevancy.

Competition – Besides the average monthly searches, find a column named competition, which  is defined by Low, Medium, and High. Competition is defined as how competitive this keyword is in the market or how many people are using this keyword and ranking in google searches

  • Low – Low means competition for keyword is low or less competitors are using these keywords. Example – Bottle
  • Medium – Medium competition is in between low and high. Example- Bottle of water, pet bottle
  • High – Competition is very high for these keywords or large competitors are using these keywords and ranking. Example – glass bottles, plastic bottles

There are two ways people can found your website

  1. Organic Search (without Ads)
  2. PPC (with Ads)

(1) For organic search – Organic search refers to the situation when your website is ranking in google search engine without running any paid Ads. For a new website, if we use low and medium competitive keywords, it would be easy to rank. We can use more than one low competitive keywords in our website content and sum of search volume of all those keywords will gain high traffic. High competitive keywords will have to face very high competition to rank.

(2) For Pay Per Click (PPC) – In PPC you can create Ads for Low-Med-High competitive keywords and these ads can be monitor for 1 to 2 months. After monitoring we can track the result of Ads, Ads with high conversion has the most favourable keywords for your website.

Keyword analysis helps in finding new market. It gives assistance to understand the demand and supply graph for particular product by furnishing search volume for potential keywords. It anticipates the market yields and enhances marketer’s decision making power.

Whether you need Analytics services for your website or keyword optimisation for your online marketplace storefront (Amazon, Flipkart etc), feel free to contact us for professional help!

Compiled by Meghna Sahu

FACEBOOK MARKETING FOR SERVICE MEGACORP

Facebook basically is a social network with a huge user base but how prodigious is it to hear that it is a critical part of Marketing Strategies too. Nowadays Facebook is considered as a pervasive platform to build lasting relationships and engagement with customers through valuable content just not in a word of making sale. Presence of colour and visuals on the Facebook platform make it a treat for viewers thus increasing the likelihood of traffic generation and conversion. The automatic play function in Facebook has further enhanced marketing by attracting a good proportion of traffic through videos.

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So what’s New on Facebook?

A question arises in mind “how does Facebook help in marketing?” Let’s give a snappy comeback.

Facebook mainly started with the vision for Students but now it has emerged to be for anyone who has internet irrespective of the age. Facebook provides three main tools for Marketing.

Pages

  • The first step for Business Latency is setting up the Facebook page.
  • It costs no penny to set up a page which is very user friendly and even working well with low budget.
  • When customers hit the like button for a page it will allow them to receive the updates of that page in news feed.
  • It is not necessary to have millions of followers for Facebook page but some promotion run on the page will decrease the advertisements in red-top.

Ads

  • It is an advertising platform for business. It is a method to share content with the targeted audience based on the pay.
  • It is exposing the business brand in front of customer based on the specific targeting tricks and hacks.
  • It is a good targeting parameter but it can get expensive based on the mission.
  • Facebook allows users to hit the “Like” under the ads and also close it if they don’t like.

Groups

  • Facebook group is just like a favorite coffee talk group. In professional language, it is like a discussion forum.
  • Here people get together to share information’s and ideas online which creates an active environment.
  • It is a best way to gather the customer’s right stuff and gain more support with active presence.
  • It is a lead source to expertise the business brand and have constant interaction for promoting the business.

Let’s look at a few tactics pursued for exposing the industry in the most interesting and creative way.

Based On Goal

The Facebook Ad type will purely depend upon the goal which is set. So choosing the main objective is the best way to reach the success. There are many Ad formats available on Facebook based on the goal specified.

Seizing the Spotlight

Seizing the attention of the audience can be done by Facebook offers targeted mainly for Facebook users. Offers can be of providing discounts for store or eBook etc in account of the E-Mail address. It will widen the network when goes in right path. Using psychology in social media as a tool for targeting your audience gives good fruitful results.

Hike the Post

Making a hike on post with appropriate content will increase the fans and also invite the friends of fans. Facebook put on ice for the fans to see the post in the Newsfeed based on the maximum budgets set up by the company. When we boost post it creates a traffic hence leading to increase in sales.

The best scheme for successful promotion and increase the business globally is by choosing the right customer at right place with right content. These could be done with right platform which obviously meant to be the Facebook. Facebook marketing is today used across various industries and has proved to give significant results. You may contact us to try our Facebook campaign and page management services.

(Compiled by Nisha Ranjith)

Mobile Marketing Optimization

In this era almost every person is having a mobile gadget in his hand. Any query arising in his mind is typed in the mobile. Query may be any, looking for any information or wants to buy something. If any user finds suitable search for his query, he visits that page on the mobile itself. Now, if he does not experience the same familiarity as that of a desktop or find different information, he will leave that website immediately.

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We can deal with the above problem by mobile optimization. Mobile marketing optimization allows the user to have the same experience when they access at desktop. There are many different areas where user may find it difficult to access data. Let’s discuss each one by one.

1) Mobile Responsive Design – Design of website should be adaptable at different platforms. For content and images to look similar at different platforms, a website must be responsive to different platforms. Layouts can be made responsive manually or automatically.  Manually, it can be done by adding some code and automatically using technologies.

2) Content – A user should experience consistency in terms of content, as mobile users are more prone to convert (although a little bit of a different strategy can be devised for mobile users). If a user is searching to buy something or looking for a restaurant at his nearby location, he is likely to visit it. For mobile, messages like visit now or call now to reserve your seat can be displayed additionally as this attracts immediate traffic.

3) Responsive Navigation – There are different kind of websites available like information sharing, e-commerce, lead generating, that have different navigation options like simple or complex navigations.

Simple Navigation

  1. Top navigation – You can simply keep at the top, a user can find it easily when he landed on homepage. But it may become difficult if you want to add another section. Also, a user’s focus may get distracted from the main content if he sees navigation at the top.
  2. Footer Navigation – Navigation options are at footer section, by this method a lot of space can be saved. This option may perplexed a user to jump at bottom every time if a user wants to navigate.
  3. Left Navigation – Navigation options are at left section, a user need not jump to the footer. He can easily navigate from left section.
  4. Select Menu – It is a better approach of all above discussed. You can design in a menu style instead of list. It allows a user to figure out navigation option clearly. But child categories and styling options should device friendly and applicable rightly.

Complex Navigation

If you have website with numerous pages (for example an e-commerce website), then to make it mobile responsive you will need a smart approach. A small website can be handled easily but a website of very big retailer or website with huge information having enormous sections need special optimization to fit on a mobile screen.

There are various approaches like:

  1. Parent – Child category : When a user approach this method, he got option to choose from parent category and a drop down appears from where he can select, what he is looking for.
  2. Right to left animation – No need of any dropdown menus, here level of navigation is off-screen to the right.
  3. Priority – In this approach, most important links are showed at the top and less important can be shown at when user click “more “.

These are just a few points that you may use to optimize your websites and/or landing pages to suit the mobile interface. Giving a mobile interface to your web presence is one of the most crucial aspects of marketing according to today’s demand and you may use the above guidelines to help you with the same. You may look at deeper insights here or contact us to help you to make it smoother and better!

(Compiled by Meghna Sahu)

Analysis Strategies for Effective SEO

Search engine optimisation is a technique to improve visibility of website in search engine. There are certain departments under SEO that need special analysis attention. Some of those shall be discussed herewith.

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Keyword Analysis – Keyword analysis is indispensable for effective SEO. Relevant and correct use of keyword is valuable and helps in acquiring quality traffic. For obtaining relevant traffic, broad match or long tail keywords are suggested. Although keyword research is time consuming but tools like keyword planner and analytics may help in finding right keyword.

Keyword analysis leads to following advantages

  • By analysing the right keyword it becomes easy to allocate more budgets to that keyword and perform spend optimization.
  • Helps in achieving more conversions and return on investment.
  • Helpful in generating more leads

 

Website Analysis – To improve website effectiveness, analysis of website is mandatory. It helps in measuring the amount of traffic reaches your website also from which location, of what age and sex, or we can say helps in market researching. It also helps in finding which page has more view and which has lesser view. Pages with lesser view can be analysed effectively, so that views can be improved and hence traffic.

You can perform Website Analysis by analysing on page factors of website, it should follow google guidelines:

  • Website structure, URL structure should be google readable
  • Usage of relevant Keywords, at right places and rule of keyword density should be follow
  • If you are using images, optimisation of images is required
  • No copied content is permissible and content should be relevant

 

Competitive Analysis – Competitive analysis is necessary to study about strength and weakness of competitor. Your competitor’s analysis help you in reaching possible customers and it is directly related to return on investment factor.  Your competitor is one who is ranking in google search ranking.

Following analysis can be done –

  • By studying thoroughly what keywords they are using and the way they are using those keywords so that they are ranking. There are many keyword tools are available like keyword analyser which improve analysis.
  • Check your competitor Backlinks using seoprofiler tool, you can find how many links pointing to their website also you can find the domain which are pointing them and with which anchor text.
  • PPC – Pay per click ads of your competitor can be analysed using various tools. What keywords they are using in their ads and how their ads are performing as compared to your ad.

Backlink Analysis – Links pointing to your website from other websites are referred to as backlinks. Backlinks are one of the biggest factors that help in improving ranking of websites. Ranking of website does not depend upon number of backlinks that have been created; it largely depends upon quality of backlinks. Backlinks from high ranking and relevant website are counted as quality backlinks. If any website with poor ranking points to your site, it can harm the performance of your website. To monitor such issues, management of backlinks needs to be done.

Backlink monitoring can be done using website monitoring

  • Link management tools are very helpful in monitoring backlinks by providing nature of backlinks whether it is no-follow or do-follow, its page rank, automatic notification if any changes are made to links and many other features.
  • If any spammy link is found, it can be removed using disavow tool. This feature is available at google webmaster tool. Disavow tool should only be used when you are sure links are spammy as incorrect use of this tool may give negative result to your website’s result.

Monitoring Backlinks and analysis process is very effective from SEO perspective. If perform all the above discuss techniques with accurately and sincerely, a large amount of quality traffic can be acquired.

Compiled by: Meghna Sahu

Tips followed by successful CEOs for SEO

Search Engine Optimization has been declared as something irrelevant and slow, and gradually companies have begun overlooking the practice. But, the truth remains that some of the best ranked companies have paved their way through SEO.

Have a look:

  • Buffalo Wild Wings generated 132000 leads through organic Google search
  • Cavalier Ford used geo-targeted keyword research and optimization to get 119% traffic rise and 47% conversion rise
  • FedEx used website audit and SEO had a 50% increase in traffic with 26% increase in conversion

Till date, SEO remains THE mechanism to get your Organic site ranking hiked reaching out for traffic increment and following a better conversion scale.

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SEO management is a whole topic that can be vastly elaborated, but for now let us take a look at some simple tips that can be followed to get your SEO on the best track for best results.

  1. Content writing

Content has always been king and it will remain so. Content that is displayed should strike a chord in your audience. For this to be achieved it is important that content is formulated in-house. You and your staff know your company and what you are best at like no one else. The first content formulation should be therefore be done by your company. Jot down what exactly you want to be informed about your product/service. Fabrication and glittering can definitely be outsourced, but it is important that you have your concepts of content clear in mind.

  1. Outsource the Technical

Technical SEO activities work better if dealt by professionals. They know it better and will dedicate a separate time session for your project. Before outsourcing, make sure that there are no penalties on your website. Investing in active paid search campaigns yields significant results.

  1. Be smart to choose your SEO agency

When you are selecting your SEO agency, just focus on selection. Do not be misled by numerous resources provided. Keep your goals in mind and analyse who can help you reach it out the best.

  1. Involve with your agency

After choosing your agency, do not leave them aside to work on your project. Don’t forget, it is your work and you should be actively involved in it as well to get maximum results. Integrate your team to work with the SEO agency by contacting regularly with updates on websites/services/products. Ask them what you can do to improve (which will accelerate the SEO results). Remember to be in loop with your agency. Leaving everything up to them drags back your results.

  1. Keep learning and monitoring

This point sort of entails the previous one. Keep yourself up to date with trends in marketing and remember to personally monitor all inhouse and outsourced activities.

RE-ENGAGING YOUR DORMANT CUSTOMER BASE

In the current marketing scenario, customer retention and re-engagement are in the spotlight. Apart from other essential activities, it is no doubt that customer re-engagement should occupy a significant position. Lead generation and lead nurturing occupy the topmost places in the marketing funnel in terms of position, time and cost. Following this theory, customer acquisition has always been one of the difficult stages in the whole marketing process. You have to win over the customer’s confidence and educate him/her applicably about your company and products/services.

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Getting in touch with your former customer base relieves you off all these stresses by facilitating the lead generation and nurturing process. In addition, your old clients know you and have interacted with you. They are well aware of your company’s strategies and services. Looking back to prior customer lists proves to be effective both in terms of time and cost. You need not start from scratch when considering your older clients. Let us look a few steps that you may take to reactivate your former clients to touch your base again.

Phone calls and emails are the most obvious methods that are used for professional communication today. If your customer had a personal communication method with you, you may directly give him a call and discuss on other matters before you gradually raise the topic of your business alliance. Try to tackle him informally into a comfort zone and then discuss business issues, this will allow him to open up to you about the exact reason of why he dropped out initially. On the other hand, if your relation was not personal, try contacting an old client together with another high level management in conference. Have a professional starting and try to get the reason of him exiting from the business. Remember, that your first contact for re-engagement should not be in order to persuade him to come back but rather to first get a clear picture of the precise reason of him/her leaving.

Getting in touch with a simple email is far too rough to get any response from a client who has stopped working with you. You are not of much importance to the customer at this point in time therefore it is advisable to make your emails a bit different. You may send a personal mail to send the customer a greeting or a wish, probably on a birthday, anniversary or the likes. Getting in touch through personal aspects are likely to get more attention than just a regular day. Another way of getting in touch through emails is to send a short and precise survey form. This will enable the customer to pour out his reasons on a single platform and you can get to know them easily. Do not make the forms large and difficult to handle.

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Once you gather the explanations as to why your customers were obliged to step out of the business with you, put up your strategy to combat these reasons. For example, if a client is having financial problems, you may offer flexible payment facilities or a small discount or an extra added service/product for a free trial. If they had to leave because of a low customer satisfaction, show them your revised policies and introduce them to your new team. You may also share some other testimonials with them which you have attained during their absence. This might re-inforce their trust in you. When you are in contact with them again and they reveal to you a severe mistake, it is worthwhile to offer a discount to cover up for the same. It may be painful in the beginning, but this approach gives huge results.

When you are planning to reach out to your former clients, prioritize your list. Put the important clients on the top of the list – those who can give you substantial business. Apart from this, it is very important to be in a continuous research mode for your company. There is always space for improvement and it should not be ignored in business. Having a system which monitors customer engagement (both current and past) helps a lot in maintaining and improving business and business relationships.

Creatives and Marketing

Marketing is empowered and driven by numerous factors – these are the actual building blocks of any marketing strategy that need to be enforced at all times. In almost all methods that are used for marketing, it is the ‘type’ of content that is important which has been used to penetrate through the target audience. As it has always prevailed among marketers – content is king and therefore, it is undoubtedly necessary to portray the content appropriately in order to reach out successfully.

CREATIVES-AND-MARKETING

Among the different types, content containing images, colour and visuals have by far caught the attention of population at large. Information is better absorbed if it is represented in a way that appeals to the target audience. In today’s world of haste and rush, we need to present the audience with information that can be quickly apprehended by them. Research proves that the brain processes images 60000 times faster than text, so there is the gateway open for creatives!

When the population to date is swiftly moving across a wide range if channels, devices, gadgets and screens; the compulsion to present content in creative visuals becomes even more prominent. Creatives have the capability of producing a focus for the customer who is relatively unstable. In a study conducted among 300 online marketers, 40.5% of them stated that 90 to 100% of their published content contained creatives in 2015. This percentage rose to 53% in 2016 (view source). This data is obviously followed by the fact that creatives go viral way faster than any other type of content. Visuals are easily captured by the human brain and thus increase the chances of being shared as well. The more easily the content is understood by an individual, the higher the probability of share.

Another typical feature of creatives is that it gives you the capacity to stand apart. Information may be the same or may be just general, for example ‘50% off’, but using creatives, you have the vicinity to display it many attractive and catchy ways. Creatives help you to present common information in a different way such that it can attract your consumers directly. Displaying information in creative format also increases the legibility and gives ease of reading to the consumer. Tweets that contain images receive 150% more retweets than those without images (view source). Facebook posts with images receive 2.3 times more engagement that those without (view source).

Messages are generally amplified and reach out further in creative formats. The human brain corresponds better to visuals and thus helps in propagation of information. If information is paired with an image or any creative, the human brain tends to remember up to 65% of the content even three days later. Images, colours and visuals resonate with your audience and incline to create a contact for you with them.

Without any second thought, creatives are extremely vital for any marketing strategy to be successful. 37% of marketers believe that visual marketing is the most important form of content for their business (view source). Optimising every aspect of marketing makes a difference in the final result. All marketing facets need designing and integration with creatives, whether it is content, landing page, social media or mobile marketing.

Handling Customer Complains – A Positive Approach

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Facing criticism can be the hardest thing to do – especially professionally and the fact that you have put your efforts in full force just adds to the demotivation. Now, it is a business fact that however good you are, you will ALWAYS have customers who are unhappy. But keep it in mind that if you are lucky, they will complain. An aggressive and spontaneous customer will simply discard your services, sometimes even silently, if he/she is dissatisfied. The very reason why your clients are complaining is that they are ready to give you a chance to cover up for their dissatisfaction and they want you to improve.

First and foremost, identify your customers. Population is heterogeneous and so are your customers. Each person will need a different approach of solution. Some of the most common types of customers in the context of complaints are as follows:

  1. The gentle one – This customer is facing an issue but is very submissive and doesn’t want to burden you with only his complaint. Take responsibility for these customers, inquire deeply about his issue and solve it efficiently.
  2. The aggressive one – This person will confront you over-boldly regarding his issues and his/her behaviour reflects authoritativeness. Be careful not to tackle him/her with the same behaviour. Be polite and pick up his issues. Do not be over-submissive, you (and your team) have worked honestly too.
  3. The extravagant – The customer who will never delay in payments but would want a balancing service provision. It is very important that you categorize these customers separately and cater to their needs despite continuous importuning.
  4. The chronic objector – This customer sets levels for ultimate patience testing. Nothing happens to satisfy him/her. There are two types of customers within this range. One will be complaining at all times but once he achieves his sought goal, he shall be one of your happiest customers and may lead to many referrals. The other will simply complain, he/she has no set objective and will simply point out errors.

Whichever type of customer you are faced with, always remember that he requires a genuine and professional solution from you in the quickest possible timeframe. You need to provide him/her with the same, to keep up your company standards. There are a few points that may be considered to help you with handling your clients.

  • Always acknowledge the complaint before you give an explanation. It gives the customer a positive feedback that you are actually understanding what he/she is going through and therefore will be able to help better.
  • Do not interrupt a customer when he/she is complaining. It further gets away with their mood.
  • If immediate action is not possible for the issue, assure your customer about the timeline that will be required to complete the tasks. Always remember to communicate back to your clients regarding any updates that you have done regarding their complaint.
  • Give them a hypothesis of what actions will be taken with respect to their complains and what will be the results. It gives them the idea of what is to be expected and also shows them that you are well acquainted with your work.
  • You may have erred in your previous tasks; it’s no harm to apologize if your mistake is honest.
  • Time matters. And it matters a lot. Show your customers that you care about their time by quickly acting on their complaints. Never put any customer related tasks for later on. Quicker actions taken on customer complains improve your impression to big heights.
  • Always re-communicate. It shows your customer that you are really paying attention to them and may reduce the chances of any further complains.
  • Keep a record of all complains and actions that have been taken for the same. You can refer back to them if at all needed. These can also be used for reporting purposes.

The key to handling customer complaints is to be liable – focus on the effect, not the cause. Use your customer complaints intelligently for what they are actually meant to be – a pathway to improve your services.

Increasing Mobile Conversions

With the advent of mobile devices, consumers/customers/clients have become more anticipating in terms of time, information and appearance. Studies have revealed that having a mobile responsive website is very far from being enough to generate mobile conversions. There are numerous other factors that are being searched for by your customers. Considering the fact that online mobile traffic is overtaking other sources (since 2014, in which about 52% of the online traffic was through mobile views), it becomes more important for industries to focus on points which improve conversions through mobile gadgets. Product industries have recently faced a significant hike – in December 2016, over $1 billion was spent on retail markets through mobile devices. Such statistics reinforce the importance of brushing and polishing marketing techniques to be slightly more oriented towards the mobile trends. There are a few steps that one can easily employ to gain a better outcome of marketing through mobile devices.

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Less content for relevancy – Mobile sites ought to be to the point. The very fact that someone is using a mobile device to search is that his intention is towards saving time. Distracting a consumer with all your information will simply shun him away from your site. Make sure that while you are reducing your content, the most important stuff is well-shown (preferable without scrolling). Also remember to minimise information to fit into a fixed number of scrolls, unlimited scrolling is the last thing your customers are looking forward to.

Content optimisation – Every microsecond plays a role when it comes to mobile conversions. Your content should not take a long time to load – reduce the numbers of images where necessary, make your images the right size (not too large or too small) and avoid interactive sections of the screen. Statistics show that oversized and under sized images cause noteworthy obstruction among mobile users.

Shopping Optimisation – Big forms and too much information demand may turn down your customers on the very last stage. Just imagine – you have successfully managed to convince your customer by passing through stages such as website optimisation/responsiveness, product or service information/display and brand awareness. An unfriendly shopping form stipulating a whole lot of information simply does away with all your previous efforts. Optimise your shopping experience, make your forms as small as possible, avail your shopping cart easily on the interface to allow for a hassle free experience and provide to save customer information.

Visible Call-to-action buttons – Your call-to-actions should be literally calling out. Do not hide them or make them too small in size. These are the very gateways to final conversions by stimulating a connection between the customer and yourself. Interactives such as “Call us”, “Ask us”, “Save info”, “Quick inquiry” , etc help in accelerating a customer’s buying decision.

No pop-ups! – These are one of the most potential conversion destroyers. A pop-up disrupts a customer’s view of information and interrupts the thought process often resulting in a complete move-away from your website, thus increasing the drop-off rate and might also affect the overall traffic on your site.

Ask for reviews – You may ask for reviews which are only one question long. These could be a star review or a multiple choice question about the service. Do NOT make it longer. Make it smooth enough so that your customer may not hesitate to help you.

The above metrics may be exploited to enhance more swift conversions on the mobile platform. You may visit us at www.bmconsulting.in for further insights.

Effect of Demonetization on Sales and Marketing

A successful business man does not restrict himself only to the account books. He or she always keeps an eye on surrounding events. And if the incident is that of demonetisation, then it is compulsion to be alert. As we are all aware, Demonetisation process is undergoing in INDIA – the currency note of 500 and 1000 are pushed out of the economy. Currency change results into the eminent shift in the paradigm of the INDIAN market. This decision of Honourable Prime Minister wobbled the INDIAN market. Many of us fail to decipher the dilemma created in the market after currency ban. This article will give you the clear picture of it.

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A sale of goods or services mainly depends on the following criteria:-

  1. A need or desire of a customer.
  2. Willingness to pay for the good and services to be use or purchase.
  3. Ability to pay for the good and services.

All three criteria must be fulfilled to sell the goods/services to the customer. If any one or more criteria are not satisfied then there will be no sale.

Demonetisation reduces the cash flow in the economy which directly affects the need, willingness and ability to pay of the customer. Because of lack of cash in hand, customers are not willing to buy any commodity or product. So there is decrease in the sale of the goods and services. If we consider the online marketplaces, most of the cash on delivery orders are cancelled by the customer because of lack of cash resources. It causes heft loss to all the online market places.

But In the era of digitisation the customers use the options like online banking or mobile wallet for the payment. There is no issue of cash resources as electronic money is used for transactions. So the revenue generated by it is unaffected. According to survey, sale of apparels, shoes, electronics is not affected at all. So we cannot say that the market is totally collapsed. Many sellers stop promoting and advertising their product at online marketplace under the wrong impression of not getting sale. It is suggested that you continue all the marketing campaigns as it will help you to improve your market index. This is the start of digital era and gradually the use of electronic money is going to increase to the extent of reducing the use of physical cash to lowest requirements. Our Prime Minister also focuses on the target of making India Digital. The future will be dominated by the trend of “GO CASHLESS”. Perception of all these aspects leads to the conclusion that continuing all marketing campaigns will help you to improve your market index. Market index is directly related to the market share for that product category. So this is the right chance for the vendors to gain some ground for them and create brand value.

It’s a time to expand you customer base by brand awareness and promotions. Visit http://www.bmconsulting.in/ for further insights and consultation by market strategist.

(Compiled by Nikhil Patil)