Tag Archives: online marketing

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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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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HOW CONTENT MARKETING AFFECTS YOUR ONLINE BUSINESS

To market any product online we need a platform where customers can reach and know about our product. Content plays an important role to explore the product. Content should be unique so that we will not face trouble in ranking our website.

We can show our content in many formats:

TEXT

It provides detailed information about our products or services. People can easily understand internal properties and features. We can compare the product name and its benefits using textual content.

IMAGE

People catch image content faster than text content. It explores what actually the product looks like. We can easily understand the shape and dimension of the product. Multi-coloured image content attracts users to know more detail about products.

VIDEO

To explore our product in 3D, video content is the best option. Visual effects attract customers to know detailed information about the product.  Generally, the video comes with audio therefore the user needs less effort to understand.

INFOGRAPHICS

Digital Marketing

Infographics mean information and graphic. It is an image with some text content that describes the picture in brief.  Nowadays the use of infographics in our content is good to explore our products.

We can use these contents on different marketing platforms. The website landing page has huge potential to convert visitors to buyers. We can use engaging content on the landing page so that the bounce rate reduces and increase the organic rank. An informative and attractive content enhances the buying decision.

The title and description of the product should be more informative. It makes it easy to understand what the actual product is. Proper mapping of image and text is also important to improve user experience.

In Email Marketing, proper content at the proper time is necessary to improve conversion. The first identification of which phase of awareness or consideration of the audience has to be considered and then emails can be sent accordingly.

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

 

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How To Rebuild Your Business After The Pandemic

How To Rebuild Your Business After The Pandemic

The year 2020 has proven to be a difficult year so far for businesses around the world due to the outburst of the global pandemic. Manufacturing units are shut down, supply chains are disrupted and companies are facing labor shortages due to the imposition of lockdown by their respective governments. All these factors have culminated in the disruption of global trade that has brought the world’s economy to a standstill.

Coronavirus impact on businessCoronavirus impact on business

As you can see from the graph given above, the GDP of countries across the world has been affected negatively due to this pandemic. Millions of individuals have lost their jobs as most of the businesses are on the verge of shutting down permanently. So, does this global economic downfall mean that your business cannot get back to its former glory post this pandemic? The answer is yes, it can.

Businesses in China, the country where this pandemic originated are slowly springing back to life. Most of the businesses in this country have started their operations already, though with strict safety measures in place. The world needs to develop similar recovery strategies that would slowly put the economy back on its feet and ready to move upwards on the graph once more.

Stabilizing your business after this pandemic is going to be a tough task, but it is not impossible. You just need to improvise your business strategies and redesign them to meet the requirements of the current market. You need to have a recovery plan that can put your business back on track once this crisis subsides.

Following is a list of few steps that you can take to restart your business after this pandemic:

1. Identify the Damage done to Your Business: Every business, big or small, has been affected due to this pandemic. You need to minutely study every aspect of your business and determine the area which has taken the most hit. For example, if your production unit is doing fine but your supply chain is hampered due to the lockdown, you need to concentrate your efforts in that area.

No business can flourish without a smooth cash flow which is the reason you need to identify the economic damage done to your business. If the damage is too high, do not hesitate to ask for funding from different sources to jump-start your business. Many governments have already offered economic packages to help rebuild the SMEs. Take help from wherever possible but just make sure that the influx of money is not hampered.

Identify the damage done to your business

2. Learn to Adjust to the New Way of Working: Lockdown has confined people to their homes which have forced companies to allow their employees to work remotely. Surprisingly, this model has proven to be cost-effective for many companies and they are planning on sticking to it even after the pandemic.

As a business owner, you must come up with new ways to make remote working engaging as well as productive. Also, never fail to address your employees’ concerns as they need to feel connected to their company. Remember, your employee is an integral part of your business and a business can only prosper if they are happy.

3. Develop new Business Strategies: This pandemic has changed the market in many ways which means that your previous business plans won’t bear fruit in this current situation. Take your time and restructure your strategies so as to meet the changing demands of the current market.

As a business owner, you will need to find out what problems your customers are facing right now and how well you can address them. For example, since restaurants are closed due to the nationwide lockdowns, restaurant owners have started doorstep deliveries and takeaways with amazing discounts to keep their businesses running amidst this crisis.

Develop new business strategies

4. Concentrate on Selling Your Products Online: Since the coronavirus has limited the public movement, it is wise to concentrate your efforts on selling your products online rather than through the physical market. Redesign your marketing strategies in such a way that they will help to regain the customer’s trust in your brand once more.

If you have a website, ensure that it is free of flaws and functions smoothly. Create innovative content and post it regularly on your website so that the customers will be aware of the steps you are taking to stay afloat in this crisis. Let them know that you are taking all the necessary safety measures at your manufacturing facilities and even during product deliveries to ensure a safe environment. This will help the customers keep their faith in you which will, in turn, boost your sales.

5. Prepare a Contingency Plan for the Future: At this stage, you would have understood how important it is to have a backup plan to tackle such emergencies. The COVID-19 pandemic has taught the world economy a lesson that it needs to be prepared for such scenarios because this kind of a worldwide disruption is not going to be the last one.

There are a lot of steps that you can take to ensure that your business does not get affected due to such global threats. For example, you can find ways to cut operating costs without disrupting your work culture to increase your profits. You can even focus on strengthening your liquid cash savings to ensure smooth cash flow in the midst of such an outbreak in the future. The crux is to learn from the current scenario and have a contingency plan to keep your business running.

Prepare a contingency plan for the future

To be frank, this situation is new to everyone in this world. We cannot comprehend how well the economy will bounce back after this pandemic but we do know that we have the determination and the skill to bring our businesses back to normal. All we need to do is give our 100 percent to our business and take every step required to get our sales charts on the upper side of the graph once again.

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

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Covid19 Impact On E-commerce Industry

Covid19 Impact On E-commerce Industry

The entire world is affected by the Covid19 pandemic since February 2020. Large as well as small scale industries have been shut down owing to the lockdown imposed by countries that have led to a huge drop in the global economy. The United Nations estimated that this pandemic can cost the global economy close to 2 trillion dollars.

This global outbreak has adversely affected business models and supply chain networks across the globe. Even the e-commerce sector has seen some unexpected buying patterns from the customers. The fear of this global pandemic has led to panic buying and people are hoarding essential goods with the intention of stocking up in order to sustain during this crisis.

Covid19 Impact On E-commerce Industry 1

Organizations have allowed their employees to work from home, which has led to a boost in in-home consumption. There is a high demand for personal hygiene products like hand sanitizers, floor cleaners, wet wipes, toilet papers, etc. Since the government has imposed a lockdown on malls and multiplexes to prevent social gatherings, people are buying groceries and other essentials online.

Due to this sudden spike in demand, online stores are finding it difficult to fulfill orders. The need for certain products has also led to an exponential increase in their prices. The closure of factories in many countries has hampered the supply chain, thereby creating an added pressure on the retailers. However, many retailers have slowly started to improvise their strategies in order to meet the growing demand for essential goods amidst this pandemic.

Covid19 has created a paradigm shift in consumer behavior. People have understood that this virus is going to be there even in the second half of 2020 and they have to learn to live with this reality. They have accepted a simple lifestyle and are sticking to the basics in order to sustain in the long run. People who used to stand in long queues at grocery stores before this crisis have understood the importance and benefits of online shopping and are likely to stick to it even in the future.

Covid19 Impact On E-commerce Industry 2

Prior to this pandemic, traditional retailers were focusing more on driving traffic to their physical stores rather than to the online ones. However, due to the increased dependency on online shopping, retailers would now need to concentrate more on developing their online presence in order to meet the growing demand. Personalized engagement will play an important role, especially with respect to essential commodities like personal care items and groceries as consumers seek increased communication and trust about the quality of these products.

Covid19 Impact On E-commerce Industry 3

When it comes to online shopping, people still fear of contracting the virus through the packages delivered to them. However, there is a very low possibility of such a contraction. According to the Centre For Disease Control (CDC), there is a rare possibility of the virus spreading from products or packages that have been in shipment for at least several days and did not come into contact with any sources of contamination after packaging.

The World Health Organization states on their website that the likelihood of an infected person contaminating commercial goods is low and the risk of catching the virus that causes COVID-19 from a package that has been moved, traveled, and exposed to different conditions and temperature is also low. If retailers are willing to take added caution like sanitizing the packages before delivery, ensuring that their deliverymen wear gloves and masks all the time and monitoring the smallest changes in their health, then it will be easy for people to trust this delivery system.

Though this pandemic has wreaked havoc across the globe, it has created an opportunity for e-commerce platforms to improvise their business strategies and mould themselves according to the current scenarios. In the end, the success of your business depends on how you adapt to the changing world around you and do the best with what you have.

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

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Brand recognition on Social Media

Brand recognition on Social Media

As per a study by Statista, there were an estimated 2.65 billion social media users worldwide and this number is projected to increase to almost 3.1 billion in 2021. Every businessman knows the importance of social media when it comes to brand recognition and these numbers are more than enough to justify that businesses need to invest in marketing on these platforms if they wish to stay afloat in the future. Even common sense tells you that the more people know about your brand, the more are the chances that your product or service would sell. And what’s better than social media to increase your brand recognition?

Following is a list of few strategies that you can implement to boost your brand awareness:

1. Selecting the right platform: When it comes to promoting your brand, there is a common misconception that “more is better”, which isn’t fully true. Even if there are multiple social media platforms that are being used by millions every day, you don’t need to publish your posts on every single platform. Do some research on the type of people who use those platforms and then you will find it easy to zero in on the platform that would give you maximum results. If you have a budget for managing four different platforms, focus on just two so that you will be able to acquire in-depth knowledge about the working of those two platforms. This will help you to develop profitable marketing strategies in the future.

Selecting the right platform

2. Set up an attractive profile: Recognition is an important element while building brand awareness. When your followers glance at your social profile, they should be able to understand your brand and get a rough idea about your products and services. For this to happen, you need to ensure that all of your social media accounts have the same handle (name of the account). The same applies to your profile picture and logo color as well. Keep your bio simple and to the point such that the visitor is able to understand about your business without wasting much time.

Set up an attractive profile

3. Share quality content: Content creation is one of the strongest pillars that lay the foundation of a successful brand awareness strategy. Since there are numerous social media platforms out there, you need to figure out what type of content would be suitable for the platform of your choice and post accordingly.
Apart from consistency in posting, you need to ensure that you are not bombarding your followers with multiple posts each day. When these posts are about your brand, make sure that you include tips, tricks, and quotes about your product or service in general. Since people’s attention span is microscopic, create content that delivers value or solves a problem of your reader to create maximum impact. Make use of hashtags freely in your content so as to expand the reach of your brand on social media.

4. Join different groups: There are a lot of groups on Facebook and LinkedIn that revolve around a particular topic. If that topic is important for your business, then you can easily join these groups. Once you are in, interact with the group members and tell them about your brand in a way that would not make you sound like a salesman. Once you have built your presence in that group, people will start following you and your brand presence will grow.

Join different groups

5. Don’t be afraid to experiment: Social media marketing is a field where a particular strategy won’t apply for too long as things keep changing when it comes to these platforms. Your captions are an excellent opportunity to make your brand famous among people. Use some creative captions on your posts by including emojis and humor in them. Doing this will not only make you sound different from others but will also help to connect with the audience on a deeper level. Moonpie is an ideal example of a brand that got popular due to its creative posts.

Don’t be afraid to experiment

We are living in a world where people spend more time on Facebook and Instagram rather than reading books and watching television. So making the most out of such social media platforms has become the need of the hour for businesses. Apart from the ones mentioned above, there are plenty of other ways to increase your brand awareness through social media. All you need to do is make sure that you are using the right platform for your marketing needs.

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

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Lead Generation Vs Demand Generation

Lead generation and demand generation are the terminologies often used in B2B and B2C marketing. When I started my career as a Digital Marketing consultant. I often used to get puzzled and curious to know the difference between two, when actually the efforts taken for both the strategies are no more different.

Lead Generation is sales centric, where as Demand generation is marketing centric.

 Lead Generation involves collecting registration information, in exchange for content,that helps us to build a marketing database. The contacts generated through lead generation are passed on to tele -callers / sales team.

As stated earlier, Demand Generation is marketing centric. Demand generation helps in creating demand for an organization’s products or services through marketing.

Lead generation is a database-building activity, capturing prospect information and connecting that prospect with sales. It is much reliant on keeping your content and information behind things like lead capture forms. 

Demand generation is about influencing a market. It’s about creating an interest in and a market for your products or services through marketing, with the goal to make buyers more likely to buy them.

lead generation and demand generation are totally different activities that needs to be a part of  content marketing plan. In many markets, the dominant approach has become lead generation first.

Difference Between Demand Generation Vs Lead Generation

lead gen vs deman gen

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