StartupTalky

Tag: Customer Expectations

  • What is Micro Marketing? | Examples | How To Build Micromarketing Strategy?

    Strategic marketing is crucial to recruiting possibilities and turning them into consumers for entrepreneurs. The process of presenting a company’s or brand’s products or services to a particular audience is known as marketing. Marketing is concerned with assessing target client markets and devising tactics to get a company’s products in front of the proper people. As a result, marketing is a vital instrument for establishing relationships between brands and their customers. Clients who identify with a company’s promotional materials are more inclined to respond to its promotion tools.

    However, marketing can be done in a variety of methods. Diverse business owners acquire different techniques to fit their particular brand. Marketing emphasises the connection between your product, brand, and customers. So, choosing the correct marketing plan for your business is critical, or it will be difficult to promote your brand among the audience, especially in these days when technology has made it so easy for many people, resulting in market saturation.

    There are a lot of marketing strategies that can be used to grow and advertise your brand. One of them is Micro Marketing. In this article we will be discussing Micro Marketing and how it can be beneficial.

    What is Micro Marketing?
    Why do Businesses choose Micro Marketing?
    Micro Marketing – Advantages
    Micro Marketing – Disadvantages
    How to build a Micro Marketing strategy?
    Successful Micro Marketing- Examples

    What is Micro Marketing?

    The most important rule of marketing is to understand your target market. This is the only method to expand a business if you understand your clients’ needs. Micro marketing is exactly that but on a smaller scale. The target audience for this sort of marketing is quite small and has comparable characteristics such as location, income, age, shopping habits, and so on.

    For example, a brand that creates women’s apparel finds out that college-aged women are their buyers as well. So they create a micro marketing plan to simply target their women’s apparel to college-aged women. This means the business can create a marketing strategy especially targeted towards college-aged women so as to appeal to that particular group as well.

    What is Micro marketing? | Micro marketing Vs Macro Marketing

    Why do Businesses choose Micro Marketing?

    Micro marketing is an extremely useful tool for both the small and large businesses. It’s a fantastic opportunity for a huge company to test a new product with a small audience on a small scale. If the product works well within a tiny audience. The company can make it available to a larger audience. Micro marketing can be helpful for small businesses in developing a name among the local community and build a loyal customer base.

    Micro marketing is mostly used by companies to target a very precise market section of the population to whom they may offer their product or service. If a corporation can match the correct goods or services to the proper audience, it can make a higher ROI than if they cast a broad net.

    Risks and Rewards of an Invite-only Marketing Strategy
    The main benefit of invite only strategy is that it makes your startup seem exclusive and private which makes it even more interesting for users.
    StartupTalkyShubham Kumar

    Micro Marketing – Advantages

    The main advantage of micro marketing is that it is incredibly cost effective. Because the target audience is smaller than normal, the cost of advertising is likewise lower. This is the type of plan that any type of business can use because it doesn’t take a lot of money and can be quite profitable.

    Another benefit is that, because of the highly targeted advertising to a small audience, the business can obtain all of the information about the consumers’ demands and the feedback can be quickly reviewed. This results in an overall better understanding of the consumers and the product.

    Common Mistakes to avoid while Creating Advertising Campaigns (With Examples)
    An ad campaign is a great way to convey a message to your consumers but it can get your brand to new heights or can defame your brand. Avoid these ad Campaign mistakes.
    StartupTalkyMahenoor Mansuri

    Micro Marketing – Disadvantages

    One of the most significant disadvantages is that it is a lengthy procedure. To know every detail about the purchasers’ wants and the type of product that might function among the smaller audience, extensive market research is required.

    Due to the smaller target base, the campaign’s scope may be limited, which may be detrimental to the company. It carries a high level of risk and can result in a small audience and no growth overtime.

    How to build a Micro Marketing strategy?

    How to build a micromarketing strategy?
    How to build a micromarketing strategy?

    Following are some important steps that can be considered to generate a successful micro marketing strategy :

    1. Create the Buyer Personas

    The most crucial part of any micro marketing strategy is to figure out the buyer personas. If the company knows about the buyers they are targeting, then the marketing campaign can be created according to their needs and buying behavior. The business can use the help of analytics and create a buyer profile by looking at the data provided by Google Analytics, Instagram Insights, Facebook Insights, and YouTube. These platforms can provide information on demographics, such as age, gender, region, and preferences.

    Surveys and interviews can also be used to gain a better understanding of the consumers’ wants and how they would like to use the product. These two strategies can assist a company in developing an overall buyer persona and a higher likelihood of successfully marketing its product.

    2. Select and create ways to reach the audience

    Businesses can simply select platforms for customers based on their shopping behavior and other characteristics such as age, geography, gender, and so on if they know who they are targeting. You can easily pick the platform to advertise your product or service if you have a strong understanding of the buyer personas. The methods can be both offline and online, such as online advertisements, social media posts, and so on.

    About Beachhead Strategy | How companies use it?
    Beachhead Strategy is a marketing strategy to target the correct market and succeed. Learn about Beachhead strategy and how companies use it.
    StartupTalkyRoshni Tamta

    Successful Micro Marketing- Examples

    There are numerous excellent instances of organisations that have developed successful micro marketing strategies, each in their own unique way. Following are some successful examples :

    Coca Cola

    The Coca-Cola camp’s 2014 “Share a Coke” campaign, in which they replaced the Coca-Cola label on their 20-ounce bottles with first names, is an example of a successful micro marketing tactic. They devised a micro marketing technique to determine which names will sell the most to their target audience. Coca-Cola recorded its largest-ever year-over-year gain for the 20-ounce bottle at 19 percent as a result of the personalised touch.

    Uber

    Because of the city’s taxi issues, Uber used to be an app-based black vehicle limo service that solely served San Francisco. The news of this new service swiftly travelled across San Francisco, and other states soon followed suit. Uber built targeted micro marketing campaigns that tailored to particular markets as they moved from state to state. This was focused on identifying unique transportation difficulties in different cities and states utilising social media data. To persuade users in various markets to use the app, Uber launched localised internet ads with varied promos and referral benefits.

    The Meme Era | About Meme in Marketing for success
    A meme is an image, video, or text of humorous nature. Sharing Meme is the new marketing trend for business. Know about using meme in marketing.
    StartupTalkyHarshit Verma

    Conclusion

    Micro marketing is all about targeting individual members of your audience as much as possible. The more you engage with your target audience and tailor your campaigns to their requirements, the more successful your product will be. It’s an excellent strategy for all kinds of businesses, and it’s a great way to try out new items. It can be a time-consuming procedure, but if done well, it can be quite rewarding.

    FAQs

    What is micro and macro marketing?

    Micro describes something with a small scale or scope, whereas macro describes something with a big scale or scope. In contrast to micro marketing, which focuses on a limited group of buyers, macro marketing refers to a plan aimed at a bigger audience.

    What is the importance of Micro marketing?

    Micro marketing aids in the understanding of the general target population and can be cost effective because it targets a smaller client base than traditional marketing.

    What are the types of Micro marketing?

    Different types of Micro marketing are:

    • Location-based Micro Marketing
    • Relationship-based Micro Marketing Campaigns
    • Industry-based Micro Marketing Campaigns
    • Customer Needs-based Micro Marketing Campaigns
    • Brand Loyalty based Micro Marketing Campaigns
    • Micro Marketing for Customer Recovery

    Why are micromarketing strategies used?

    Micromarketing strategies are used by the companies to target audience in a cost effective manner.

    What are the successful micromarketing strategies implemented?

    Examples of some companies that made its success using Micromarketing strategies are:

    • Uber
    • Coca Cola
    • Procter & Gamble
    • Red Bull

  • 10 Tips To Communicate Effectively With Customers

    As we know, apart from earning a reasonable profit, corporates are obliged to satisfy customers’ needs and demands for timely services, which is another ultimate goal for any business.

    Providing customer services is very important in retaining existing as well as new leads to grow your business, which should be followed before, during, and after the purchase of your products, because in that way they would likely continue doing business with you.

    In simple terms, customer service is a support system offered by a business to its customers to bestow providential experiences. As a result, retaining existing and generating new leads can be easily done through effective customer services.

    For instance, when you are at a physical store, the staff or manager will come along with you till you make it to the billing counter. Yeah, that’s very much likely to customer services, where the staff or employers would leave your side and support you till the end and after the sales.

    Some businesses still lack in generating leads or sales, even though they topped every aspect of marketing strategies, but lack one thing and that is- Customer service.

    You will succeed in excellent communication abilities, only if the customer comes back to you and willing to make another purchase with your business. Customer service should be offered before, during, and after-sales to help customers and businesses form a trusting connection. As the expression goes, “communication is key,” thus it is critical in business to develop your customer network as well as enable potential customers’ trust in your company.

    Communication tips are essential for maintaining a bond. Irrespective of the relation, the bond can break or make depending on the method of communication. The same is applied in the business too. A few of the customer communication tips are explained below.

    1. Learn About Your Customers
    2. Use a Friendly and Positive Tone
    3. Make Your Customer Comfortable
    4. Become an Active Listener
    5. Adopt Chatbot and Tech Tools for Convenient Communications
    6. Avoid Interruptions
    7. Create the Conversation Interesting
    8. Be Patient While Talking to Customers
    9. Become a Problem Solver
    10. Collect Your Customer’s Feedback

    1. Learn About Your Customers

    Before commencing the sales process, the agent or business manager should know the whereabouts of the customers. Customers’ demands and wishes are satisfied by businesses based on their interests. Thereof, you should have a comprehensive list of your potential leads’ information, including their background, account credentials, creditworthiness, and so on.

    2. Use a Friendly and Positive Tone

    As the proverb goes, “politeness costs nothing but gains everything,” so converse in a kind tone and invite the other person to listen to you. Keep the conversation consistent, positive, participatory, and credible so that the listener (consumer) feels comfortable communicating with you.

    3. Make Your Customer Comfortable

    Your customer service is nothing more than a void conversation unless the customer is willing to leave their comfort zone. Start with inquiring about anything that interests them, such as “what is your favourite part of the day?” or “What do you do for a living?” Notably, do not interpret while your consumer is speaking or saying something; instead, let some time and space for the discomfort to subside.

    4. Become an Active Listener

    Listening and paying attention to the customers is one of the most important parts involved in customer service. Listen attentively during conversations to ensure you don’t miss anything they’re interested in.

    Make sure you comprehend everything in the customer’s communication by reading it attentively. Reiterate the problem as you see it now, and provide the consumer with the opportunity to contribute their thoughts. When your employees see that you are listening and engaging with them, they will feel cared for.

    Predicted uses of Chatbots for increasing customer experiences
    Predicted uses of Chatbots for increasing customer experiences

    5. Adopt Chatbot and Tech Tools for Convenient Communications

    One of the leading causes of customer support dissatisfaction is delayed response. Every month, some new technology is introduced to the world that makes it even easier to assist the consumers such as the use of ChatBots.

    Co-browsing and live chat debugging tools might make it much easier for your customers to communicate their issues. It also expedites the resolution. If your customer can simply show you the problem instead of explaining, that makes it easy on both your team and the person who is reaching out.

    6. Avoid Interruptions

    According to McKinsey, a customer’s emotional state influences 70% of their journey. As a result, ensure there are no interruptions in the middle of the talk. Avert bombarding clients with numerous inquiries before enabling them to react.

    Casting massive pre-written saved responses faster than your clients can skim is not a promising impression. When you rely too heavily on your saved responses, you end up ludicrous. AI help needs to write and communicate at the same speed as a human would.

    7. Create the Conversation Interesting

    Ask your customers how they are feeling. If the customer gives you the insights, make sure of listening attentively to them. Insights can provide a general idea of what a customer is looking for currently.

    Sometimes, customer insights can also show the working of the product and its success rate. Always be prepared to ask customers their personal insights in basic communication.

    8. Be Patient While Talking to Customers

    Customers contact you because they are unsure of what they are doing. When clients encounter a technological issue, they may believe they are less skilled than the person who can solve it.

    Even if they are needlessly contentious, be patient with your consumers and endeavour to discern where they are coming from. If it’s the assistance they want, no one likes to be nudged into something. Empower them with all the data they expect, be helpful, and give them authority over their conclusions for improved customer service.

    How to reduce customer friction? | Making Happy Customers
    Customer friction is caused when customers feel hesitant to buy goods or services of your company. Lets learn how to reduce customer friction?
    StartupTalkyChaitra S

    9. Become a Problem Solver

    Always speak slowly and deliberately, both you and your employees. This step will help you evade dilemmas and reply to client questions before they originate. Use upbeat language to show that you care about their concerns and are capable and eager to help them solve challenges. Pessimistic words stifle growth and jeopardize customer confidence. Customers should feel like they’re a facet of the expedition relatively more than just another phone call, email, or chat session.

    10. Collect Your Customer’s Feedback

    Take advantage of any chance to collect reviews from your clients during customer support conversations. This information can help you figure out how to best serve them. Using surveys to gain the customer’s feedback is the most trusted and highly used tactic.

    Allow your customers to complete a brief survey after each customer support contact or chat so you can obtain fast feedback on how you’re performing. This information can assist you in improving your tactics and providing better service to your clients.

    Brand Rehab: 7 Powerful Moves to Restore your Tarnished Brand Image
    If your brand image is tarnished by some mistake you might need to restore that. Here are some techniques that will help you in doing that.
    StartupTalkyDamini Bhandary

    Conclusion

    If you want your business to prosper, you must develop brand wealth with your clients. Customer Service can consider an important triggering factor for customer review and sales. You can try to deliver the best customer service by just being deliberate. We have provided some directions to assist you in constructing it.

    FAQs

    What is meant by customer service?

    Customer service stands for the additional help provided by the company to its customers.

    AI Chatbots that can help in customer service are?

    Some of the most commonly used AI Chatbots in customer service are ChatBot, Clare.AI, NanoRep, Twyla, etc.

    Which tools are best to use for customer service?

    Some of the helpful customer service tools are Messagely, Intercom, Help Scout, Hubspot Servicehub, etc.

  • 7 Tips for Crushing Your First Design Startup by Ink n Bliss Founder – Pooja Bhagwat

    The article is contributed by Pooja Bhagwat, Founder of Ink n Bliss.

    Starting a new business is so overwhelming. You need to have a solid plan to build a reputation & to take your company to the next level. Here are 7 tips to help you become an effective start up right from the beginning.

    Tips for Setting Effective Startup

    1. Being Passionate
    2. Setting Goals
    3. Creating Content
    4. Creating Great Customer Experience
    5. Networking Skills
    6. Community Over Competition
    7. Taking Care of Yourself

    Tips for Setting Effective Startup

    Being Passionate

    “Passion is energy. Feel the power that comes from focusing on what excite you” – Oprah Winfrey

    If you really are willing to start & sustain your start up, being passionate about what you do is the key. You are more likely to sustain if you love what you do. You will face sacrifices, failures & low moments along the way but your zeal & your passion will keep you going. You will have the motivation & you will work tirelessly to make it happen. Without passion success in impossible.

    Setting Goals

    Goals help you create a clear path & it will make or break your business success. Of course people with goals are more likely to succeed. So setting goals & achieving them is a must.

    Spend more time visualizing your goals so that you will be more specific about what you want to accomplish. Try to define each step of your roadmap & remember it’s not just about a big picture but having some short term, small goals are also important. Commit to your goals, track them & don’t forget to reward yourself after completing the goals. Stay motivated throughout the process.

    Creating Content

    Creating new content frequently is necessary for any business industry. It reflects your areas of expertise & makes you look like an expert. It will help establish your brand & will also attract new viewers necessary for business growth.

    Though its overwhelming to choose from many different social media channels available today from Instagram, Facebook, Pinterest, YouTube, LinkedIn etc. It’s best to start with just one that you like the most & then slowly going over other social platforms. Also, planning your monthly content helps more than planning a single post. You can quickly overview all the important dates, festivals & events happening in a particular month & can plan your content accordingly. Once your plan is ready, you will be able to create creative content that will delight your audience & hence will help you grow.

    30 Startup Terms and Jargons Every Entrepreneur Should Know
    It is wise to know the startup terminologies which is common in the startup field to showcase your business plan effectively. Here are some of the startup jargons.
    StartupTalkyNiku Mandal

    Creating Great Customer Experience

    How customers feel about you & your brand is extremely important. Attracting new customers & retaining the old ones is essential for a brand’s success & that is possible only through effective customer experience.

    How do you interact with your customers? How well you behave with them? What do you do if something goes wrong? How do you handle crisis? How do you manage to give your best work within deadline? How do you implement your skills effectively? Every step of the communication is a key to creating a good customer experience.

    Always go extra mile while delivering your products or services to your clients. Stay in touch with them right from the beginning conversations till the final delivery. Your logo, packaging, professional email ID, your language, your appearance everything matters & it silently reflects on the minds of your customers & helps build brand loyalty.

    Networking Skills

    The importance of networking is obvious. A strong professional network is definitely needed for any business success. The more you network, the more you will grow & you will build long lasting connections. Networking gives you access to more people & hence more opportunities. The referrals & resources you get through networking works like magic.

    Even if you are an introvert & you don’t like to go out & talk with others, you need to do this somehow. Begin with going to small networking events happening in your area. Try starting a few conversations or just listen to others. Put yourself out there & eventually you will feel more comfortable meeting new people & staying longer at the networking event.

    Community Over Competition

    It’s easy to get caught up in the fear of ‘losing’ customers over competition but life is not a competition. In fact it’s all about relationships. Our lives are enriched by strong bonds & friendships & so does our businesses. Businesses are built on how to best serve your customers & not on how to steal your competitor’s customers. If you are not skilled enough in a particular area, pass on that work to someone else. The more you give the more will come back to you in different forms.

    I firmly believe in community over competition. Coming together & collaborating within your industry is tremendously helpful. Together we feel protected, we understand each other better & when we help each other & cheer each other on, we accomplish things on a different level. After all no one can take away your ‘YOU’ factor & that’s what sets your business apart.

    Taking Care of Yourself

    Though your business is like your baby & you want to work on new ideas 24×7, nothing is as precious as your health. It’s non-negotiable. Eating unhealthy, losing sleeps, working extra hours every day will drain you & you won’t feel energized enough to work on your goals.

    So invest good amount of time in yourself & ultimately in your business. Sleep more, eat healthy & exercise regularly.

  • Key Drivers Of Digital Transformation To Re-invent Businesses

    The opportunity for digital transformation for organizations remains a constant presence that is becoming a prerequisite to success. According to the latest IDG State of Digital Business Transformation report, which monitors the state of digitalization in businesses, over 44% of organizations have already put going digital at the forefront of their decision-making processes, operations, and end-user engagement.

    To be competitive, viable, and profitable in an increasingly digitalized environment, today’s businesses are focusing on digital transformation.

    While technology is often connected with digitalisation, it is merely one of the levers that propel the company ahead. The holy trinity of people, process, and technology remains the foundation for successful transformation, but these skills have been reinterpreted for the digital ecosystem.

    Success will be determined by getting people, process, technology, and data right, regardless of the urge to transform, pull or push. These four forces facilitate transformation, but they also have the potential to sabotage it. This is how you can make digital transformation work for you.

    Key Drivers of Digital Transformation

    Conclusion
    FAQs

    What is Digital Transformation ?

    Key Drivers of Digital Transformation

    key drivers of digital transformation
    Key Drivers of Digital Transformation

    Below are some key drivers that push businesses to undergo digital transformation.

    Survival

    Advances in digital technology have taken the economy and the business field by storm. The latest technology, New software, enhanced equipment, and better processes emerge overnight, which could make or break a company if it does not get on board and ride the waves of change.

    The effects of these advancements mean more significant innovation, more opportunities, and heightened efficiency for the business. However, without digital transformation, these benefits remain an unreachable goal. Companies are faced with a choice: to sink or swim.

    Drivers of Digital Transformation

    Customer Expectations

    Almost anything and everything can now be accessed with a click of a button. Boundaries such as location are no longer an obstacle for someone from Asia who wants to order merchandise from North America. Furthermore, what used to be months for the item to be shipped has been shortened to one or two weeks. This increase in convenience gave companies like Amazon the upper hand in the industry. Today, when someone purchases anything online, he or she expects a shortened shipping period because of the standards established by the big players.

    On the business side, companies are forced to continuously improve their processes by leveraging digital tools to give their customers the best experience possible. It also through digital means that a company could reach out to its end-users to obtain valuable information and feedback.

    Need For Speed

    CIO of the InterContinental Hotel Group, Eric Pearson, noted that there had been changes in the industry wherein it is no longer about the “big beating the small” but the “fast beating the slow.” Technological advancements will continue to emerge – it’s up to the company whether to adapt and transform or to wait and potentially lose to those who were quick to act.

    Role of AI

    Artificial Intelligence is another key driver that pushes businesses toward digital transformation. Beyond self-thinking robots, AI in the business context refers to practical systems that automate tasks once governed by humans. AI is comprised of the following core ideas:

    Comprehension – The ability of a system to discern and analyze data and transform it into valuable information.

    Sensing – Components that collect text, voice, image, or other forms of input from systems.

    Analysis – Components that implement algorithms or a set of rules on problem-solving capabilities.

    Guidance – The ability of a component to request human assistance, verification, or approval.

    Action – A component that could “act on its own” without the efforts of a human, such as paying a bill online or submitting reports to a company portal.

    Everything about Humanoid Robots – History, Tesla Bot, and Popular Robots
    Humanoid robots have reached new advancements in technology in recent years. So, Here’s a brief study about humanoid robots and Tesla bots.
    StartupTalkyAnik Banerjee

    The Emergence of Infrastructure Automation Software

    With the spotlight focused on digital transformation, a niche was created, and companies that could provide a smoother transition to digitalization emerged. These companies develop software catered to the requirements of an organization that streamline the entire process. Because time is of the essence for businesses and the ability to adopt digitalization in the shortest period provides a competitive advantage, enterprises utilize infrastructure automation software.

    The road to digitalization is a fast-paced and volatile journey. Fortunately for businesses, there are many tools available that could make the adventure more feasible and worthwhile.

    Conclusion

    For today’s business, digital transformation is the most crucial potential. It’s not so much about having a choice as it is about knowing how to handle it. While all three traditional change levers – people, process, and technology – must all play a part, it is without a doubt data that distinguishes today’s urgency and opportunity.

    Businesses that were fast to provide a digital face to their end customers are still failing to reflect that strategy in the middle and back end of their operations. Nonetheless, it is from there that true change emerges. The client-centricity that determines success will be driven by collecting data about everything and feeding it back into increasingly automated solutions. The possibilities are limitless.

    FAQs

    What are digital business drivers?

    Survival, Customer Expectations, Role of AI, etc.

    What is digital transformation? or What is meant by digital transformation?

    Digital transformation is the process of using digital technologies to create new or modify existing business processes, culture, and customer experiences to meet changing business and market requirements.

    What is digital transformation examples?

    AI-powered chatbots that answer simple customer inquiries serve as a welcoming presence on your website, reducing the time customers have to wait to reach an agent.

    What is the purpose of digital transformation?

    Digital transformation involves optimizing processes and making workflows faster, easier, and more efficient because instead of spending hours processing paperwork, you can create digital workflows which increase efficiency and allow employees to focus on other activities.