Monthly Archives: December 2020

How is AI Affecting the Digital Marketing Industry

Digital marketing is a vital cog in a business these days, and Artificial Intelligence hugely supplements its powers. AI can come in handy when collecting and analyzing data is required for drafting out digital marketing strategies. Just like human intelligence, AI has been evolving a little more with passing time.

AI refers to anything that resembles human cognitive skills and replicates them for use in machines. Modern businesses must adapt to the ever-changing trends of marketing and implementing AI in digital marketing.

The AI we discuss today is the learning and problem-solving skills of AI software of various types used to bolster digital marketing. Let’s take a look at them one by one.

Voice Assistants

Voice assistants like Google, Amazon, Siri, etc., are widely used by people worldwide. They are a handy tool for the modern consumer to have the world at their command. These voice assistants are dependent on search results, which are a big part of digital marketing.

Over the years of development, voice search results’ accuracy significantly improved and made them a quick search tool than typing. If implemented currently with Search Engine Optimization, voice assistants can get you good results for brand recognition.

ChatBots

AI-powered ChatBots are an excellent invention for businesses that rely heavily on their website and customer feedback. Chatbots can be the clock service that can answer open-ended questions by human customers. They can use machine learning to track data, trends of conversations, typical kinds of queries, etc.

For E-commerce websites, this tool is a godsend. It not only helps impatient customers solve their queries but can also easily link them up to what they’re trying to find. Because of these ChatBots, bounce rates have decreased, and more people are engaged long enough on a website actually to make a purchase.

Automatic Emails

An Emailer list is an essential chunk of data that a business can use for campaigning for their new product. AI implemented Email Campaigns are something that every business should know about.  A good campaign can change the entire course and trajectory of your business in the best way possible.

AI can help campaigners draft their emails better, maximizing the returns on the effort. AI can also help analyze billions of reports and features that study consumer trends and times, giving you enhanced insights on when to contact your customers, using what kind of language, pitching in which format, etc.

Content Editing & Creation

Written content is the life’s blood of online marketing. Most of the internet is just words placed in a particular order. When writing content for the internet, specific rules must follow any traffic and top search result entries. With AI automation tools for content, you can rely on technology to help you not only finish your blogs quickly but do so in the most precise language possible. The tools such as Grammarly, Wordsmith, Quill, etc., also help you complete regulation sentences while you’re writing emails.

Digital Advertising

Tools like Facebook Ads and Google Ads are responsible for gigantic shifts in customer buying trends. With their machine learning capabilities, they are bridging the gap between customers and businesses more than ever. They do so by using all their data collection might and target ads by their paying customers, mostly businesses, to customers looking for exactly what’s being sold.

The AI in these advertising agents eliminates the time and effort wasted by human resources. This way, you can employ social media’s power to target different demographics like age, location, interests, gender, etc., to make marketing to your crowd easy. These AI powerhouses use NLP or Natural Language Processing to create workable copies of ads with few changes to optimize them for the target audience.

Conclusion

Artificial Intelligence is making lives easier for businesses. It was something that we used to fantasize about in extravagant imaginings not a lot of decades ago. But it is here, it is realistic, and it is automating and streamlining simple to complex tasks that human intelligence was wasted on. It is improving how business is done and at the same time, takes care of customer satisfaction as well.

For further information on  Digital Marketing, you may contact us or visit our website www.bmconsulting.in

**This blog has been compiled by Divyanshu Gupta**

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Influencer Marketing – What is this all about?

Influencer marketing utilizes a person’s popularity to sell products because people with a considerable following have a better reach when trying to sell products or services. Not more than a decade ago, this type of marketing was confined to celebrities and dedicated bloggers with many readers. In the modern era, influencer marketing has grown and is a very established aspect of online marketing.

With the rise of social media influencers, anybody can gain a strong online presence based on valuable content. This gives them everything they need to influence the market space with products and services of their choosing. These days, a big chunk of the youth depends on social media platforms for staying up-to-date with the world, entertainment, knowledge, and even buying products. So let’s take a deep dive into the concept of ‘Influencer Marketing.’

What are Influencers and Their Role in Marketing

Influencer Marketing combines the old school idea of celebrity endorsements with a modern age Content-Driven Marketing campaign. An influencer could be anyone from a well known local celebrity to someone whose popularity doesn’t carry forward in the “real” world. Online popularity is the only thing that matters when it comes to these kinds of marketing strategies.

Here are the two things needed for an online entity to be considered an “Influencer.”

  • A sway on their followers to influence their purchasing habits and decisions, using their knowledge on the product, and their relationship with their audience.
  • A proper following in a particular niche. This is important because, with online marketing, you can only sell to a specific target audience because of how crowded the online market space is.

What is Influencer Marketing?

When a brand collaborates with an online influencer to draft out a campaign that involves targeting advertisements and product endorsements to the influencer’s followers, it is called Influencer Marketing. This will help the brand improve its brand recognition and sell more products through a very hip and socially digestible medium.

Depending on the platform that an influencer, well, influences on, strategies and plans can change drastically. YouTube influencers are better suited to do full-fledged marketing videos to show off the product and its uses. In contrast, an Instagram influencer will have different types of followers that react differently to their content.

The classic “hire a celebrity to do a TV commercial” still works very well like it always has. But it is also still costly like it always has been. However, Influencer Marketing is relatively cost-effective and an excellent option for small local businesses trying to find their feet in the market place.

How to Make Influencer Marketing Strategies

Just like Social Media Marketing, Influencer Marketing depends on careful strategizing and planning. When you think about Influencer Marketing, you must immediately believe that it involves a trade of products for marketing. But that is not how that works.

1. Finding Influencers and Figuring-out their Pay

Research is the first step in making any strategy. First off, you want to analyze what social media platform is your target audience more likely to use. For this, there are many digital tools to help you with the analysis of customer trends.

Once you have that jotted down, you must research the famous influencers in that specific niche and contact them. Depending on your budget, you could either go for a big-time celebrity with a following in the millions or go for a micro-influencer who has followers somewhere in the 5-10 thousand range.

2. Setting a Budget and Advertisement Management Strategy

After you understand which you’re going to work with and how much money you’ll need, it is now time to create a budget and management strategy. You need to develop a timeline to execute, plan, and review your marketing campaign successfully.

One way to use social media marketing is to use automated advertisement programs. An influencer is a human being who can fall short of commitments because they have to manage their time and work with various other brands. So, it’s essential to employ some people skills as well.

3. Reviewing and Refining the Campaign

Like any marketing strategy, an Influencer Marketing campaign needs to be reviewed from time to time. Having pre-determined dates where you check the campaign regularly is a good idea. One way to do so efficiently is to learn about data tracking platforms, which can help you keep track of your sales sources. By tracking your results, you can have better ideas to make decisions and changes to your campaign.

Conclusion

The world of social media is ever-changing. It evolves rapidly, leaving behind old patterns. For example, the Instagram algorithm changes drastically now and then, depending on what kind of content the platform decides to push. But one thing that remains constant is the attention that online entities with significant followers will always have a place on the platforms, making their influence obsolete and immune to change. This is what makes Influencer Marketing a very viable option to sell your product to a very targeted audience.

For further information on  Influencer Marketing, you may contact us or visit our website www.bmconsulting.in

**This blog has been compiled by Divyanshu Gupta**

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Building an Affiliate Website – Tips for Success

Once you look closely and analyze most businesses, there is plenty of scopes to make money for the owners of said business and third parties who generate more revenue and more profit for everyone. In a product-based business, this gap is bridged by Affiliate Marketing.

Affiliate marketing promotes products and services by other companies for a commission on every sale made. This way, you earn fair compensation for a new customer’s gain to the company or business you’re affiliated to.

Affiliate marketing is the holy grail of passive income. Passive income is where you make money in your sleep. This dreamlike money-making opportunity is realized when you create a website with exciting and engaging content and pack it with links to products related to the content.

This way, you can create a circle of profit for everyone involved in the transaction; the business gets a sale, the customer gets what they want with convenience, and you get a piece of all of that!

Successful affiliate marketing takes the right combination of hard work and smart work. You have to put in the hours, meticulously designing the website and making it as user friendly as possible.

You must attract the readers to your website because most people on the internet, who stumble upon such blogs and reads, are looking to be sold something they can use. That is how affiliate marketing works in a nutshell. Affiliate marketing is an aggregated, concentrated effort to push products on as many online mediums as possible.

To understand affiliate marketing better, one needs to understand the moving pieces involved in one transaction. There are two parties in a regular business transaction; the merchant and the customer. But in an affiliate marketing setting, there are two more parties in the middle; the network and the publisher.

Everyone has something to gain from an arrangement like this, and there is no catch at all! To start in the line of affiliate marketing, one needs to build a website and boost online presence to be as visible and approachable as possible. So here are some tips on how to build a successful affiliate marketing website!

Pick a Niche

A niche refers to your specialization. It is the most significant determining factor of how much money you end up making. A great tip to start in this line of work is to pick a niche that deeply interests you, like sports, for example.

If you are heavily interested in a particular sport, you could write exciting content related to the sport. Chances are, whatever topic or niche you choose, it has been covered and written extensively about. So the trick here is to pick a specific niche within a niche. That is how you can segregate an untargeted market where you might have a chance.

Learn how to Grow your Network and Generate Income

Now that you understand the basic idea of making money by linking people to products subtly, it is about time you know how that happens. For this to happen, you need to find products to sell, and that is where affiliate programs and networks come in.

To get a commission from promoting products online, you get the link up with the source, i.e., the merchant, or look for an affiliate program or network through which most businesses employ to run affiliate programs on their behalf.

One important thing to do after you link up with an appropriate program is to find the right products to sell. It’s effortless to start promoting many products initially and not make profits from any of them. To avoid that, good practice as a beginner is to make it easier for your reader/potential customer to stay focused on one thing.

These aforementioned affiliate marketplaces are an excellent place to learn and analyze how the best performing products got there and how the top-performing affiliate programs employ blogs and links.

Finding a Platform that Works for You

These days, creating a website to start a business doesn’t need an expert coder to make a website from scratch like it used to. Now, with a little due diligence, anyone can learn how to create their website through platforms like Wix or WordPress, where you can drag and drop features and keep what you need for the website to feel fresh and resonate with your style. It’s unnecessary to approach affiliate marketing through a website, but it is the best way out of all.

Creating Valuable and Engaging Content

“Content is King” isn’t a phrase that gets thrown around for no reason. It means that your readers care about what they are reading, and the quality of what they’re reading profoundly impacts their buying habits.

In your write-ups, you need to sell them the product without actually selling it to them. There are many ways to formulate engaging content on your website that immediately attracts a customer interested in buying something. Such content includes blogs, reviews, ‘best of’ lists, product comparisons, ‘How to’ guides, etc.

Generate Traffic for More Sales!

This one is pretty straight forward. You need to generate more traffic to your website, which is now set up and filled with valuable content that links readers to websites where they can buy products that you get a commission on! The most common ways to generate traffic are using email lists of prospects, promotion through social media, and employing SEO tactics to use search engines in the best way possible.

Summary

These tips and tricks are an excellent place to start if you’re looking to get into affiliate marketing through your website. It is a work line with vast information to consume and lots of moving pieces, but this work is not that difficult. Use these tips with a grain of salt and start learning how to make money in your sleep!

For further information on Digital Marketing, you may contact us or visit our website www.bmconsulting.in

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The Rise Of Ecommerce In The Upcoming Times

The world will never be the same after this ongoing pandemic. COVID-19 has forced businesses across the globe to rely on basic survival instincts to hold their business from falling apart amidst this crisis. Panic buying of household essentials dramatically increased during the pandemic, which led to the boom in the sales of companies that offers those products. The world-famous retail company Walmart experienced a 97% rise in sales in the second quarter of 2020 in the United States.

The lockdowns enforced by governments have also led to a drastic change in the consumer segment of the e-commerce industry. Before this pandemic, it was generation Z that was more inclined on buying stuff online. However, even adults and senior citizens are now preferring to shop online rather than standing in queues at a mall or supermarket.

The rising trend of online shopping

The ongoing pandemic has brought a paradigm shift in the way the e-commerce industry operates as businesses are more focused on offering everyday essentials rather than luxury goods like jewelry, clothing etc.

People have now realized that it is not only safe to buy goods by sitting in the comfort of their homes but also time-saving as well. Even small stores are offering home delivery options to keep up with the rising trend of online shopping. Since people are now stocking up on medical supplies as a means to avoid the spread of the virus, sales of goods like sanitizers, masks, face shields and PPE kits is at an all-time high.

Mobile E-commerce – The New Normal

Mobile commerce is going to be the new normal when it comes to shopping for products online in near future.  More and more companies are now striving hard to make their websites mobile-friendly in order to boost their sales. According to an estimate, 53.9% of all e-commerce sales will be done through mobile devices.

While it is true that mobile e-commerce is profiting, it needs a lot of research and timely improvisation if you wish to keep the online shopper engaged on your website. The use of Progressive Web Applications (PWA) is gaining popularity to reduce bounce rates. This application stays on the user’s home screen and loads instantly, irrespective of whether the user is online.

The Move Towards Automation

Even though some countries are slowly moving back to normalcy, the after-effects of the coronavirus are still prevalent in society. This has led to many businesses reducing the number of people working for them and moving towards automation as a means to keep the business running amidst this crisis.

There are numerous areas where automation can be applied when it comes to the e-commerce sector. You can use it to list new products on multiple channels, identify and cancel high-risk orders or schedule inventory alerts for reordering. Whatever you do, automation is bound to eliminate the risk of human error and increase productivity.

In developed countries like the United States and Japan, warehouse robotics has become a go-to option to cut costs and improve efficiency. In fact, there are now more than 3200 robot-enabled fulfillment centers worldwide. The use of Artificial Intelligence (AI) has also seen an upward graph, which puts the future of e-commerce on a whole new level.

The Digital Transformation

Small and Medium Enterprises (SMEs) have always lagged when it came to e-commerce participation, especially in OECD countries. These SMEs were devoid of digitalization before the crisis and hence had to shut their businesses during the countrywide lockdowns. However, governments are taking drastic measures to bring these enterprises back to life.

Governments in various countries are now doing their best to bridge the gap between these traditional SMEs and the online retail sector by offering economic relief packages that bring modern technology to their doorstep.

Countries like Korea and Japan are encouraging these SMEs to go online by offering support programs. China and Singapore helped the MSMEs during this crisis to make a smooth transition to e-commerce by giving them access to e-commerce platforms with global reach. Such steps will play an important role in reviving the fallen economy.

Summary

In the past, the sale of products like fashionable jewelry, high-end clothing and electronics accounted for a large profit in the e-commerce sector. However, this pandemic has made people concentrate more on what they need rather than what they want. In addition to this, the rising inclination of consumers towards buying products online has opened new doors of opportunity for business and has paved the way for their expansion towards new customers and types of products.

The retail world is not going to be the same after the coronavirus pandemic. There will be those who will go back to their old habits and get things done in an old-school way. However, one thing is for sure that for those who have found solace in adjusting to the ways of the online e-commerce system, a sharp rise in sales will be waiting for them.

For further information on E-commerce Marketing, you may contact us or visit our website www.bmconsulting.in

 

 

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