Tag: 📖 Learning

  • How to Do a Competitive Analysis on Social Media to Boost Your Marketing Strategy?

    Advertisements are a great way to popularise your company, its products, offers and whatnot. It creates a situation where an inevitable ranking of your company along with its rivals happens as far as viewers are concerned. From newspapers and billboards, today the space for this competition has gone to various social media platforms.

    Social media marketing has become one of the most important and efficient ways to interact and engage with your product users. Any popular company that controls the market will definitely have an excellent social media marketing strategy.

    Having made clear the importance of social media marketing, this article will talk about a few things that you can do to spy on your competitor’s social media marketing strategies. Competitor analysis is never a bad thing to do as the word spy makes it sound. It is an efficient way to improve yourself across the process to have a better standing in the market.

    Identify Your Competitors
    Identifying the Channels
    Gathering Data
    Keep an Eye on the Ads
    Analyse the Newsfeed of Your Competitors
    SWOT Analysis
    Automation of Tools

    Identify Your Competitors

    It is the first and the most important thing that you have to do before you start to monitor their digital marketing strategies. This is where you will make use of the right keywords to gather information about all kinds of competitors that you have got.

    Remember that not only the popular competitors are your only competitors. Look for all sorts of potential competitions as well. Making a list of competitors will help you improve the management of the situation in a better manner.

    Identifying the Channels

    There are a plethora of platforms where your competitors might be engaging with people. Generally ranging from popular social media networking sites like Facebook, Twitter, and Instagram; it is very unlikely that your competitors’ options end here.

    Check for any blogs that your competitors might be using and other not so popular social media sites where your competitor might have good user engagement.

    Gathering Data

    This is the instance where you narrow down your monitoring of your competitors into what exactly they do. You can start with any of their  social media accounts, preferably Facebook.

    Go through the number of likes and comments that they get. You can use this information to understand whom you should target now. You can also use the advertisement facility of Facebook to arrange for these users to reach your website whenever they click the ad.

    Do not forget to look up for the demographic details of your competitors ads. Whenever you come across their ad in social media platforms use ‘more options’ available to dig in and understand the reach of their ads. You can use this information to model your strategies accordingly.


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    Keep an Eye on the Ads

    Ads being the basic foundation of social media marketing, be mindful of the things that get in along with the advertisements. Studies show that good quality captions will increase the traffic to the website by 6 to 7 times.

    Look at the value proposition, length of texts and the details addressed within the texts added. Also, look into the kind of ads they circulate. This is not to copy them blindly but is a form of self-introspection and a guide to what needs to be done and what needs to be avoided.

    The best way to do all these is by using ad spying tools to spy on your competitor’s ads. AdSpyder is one of the ad spying tools that can help you with spying on your competitor’s ads on various platforms. You can understand the strategies that they have taken and can implement the same on your ads, to make them perform better.

    Analyse the Newsfeed of Your Competitors

    Apart from Ads, your competitors’ newsfeeds should always be under your scrutiny to have a better idea of their plans. Based on the number of likes and comments, weigh their best engaging content and analyse it.

    The kind of language, images and call to action used should be looked upon. Going through their comments will be a great way to understand what aspect of the feed attracts them and what they do not like. It will be a cost-effective way to boost your social media strategy.

    SWOT Analysis

    Understanding the strengths and weaknesses of your competitors and your company is an efficient way to improve social media marketing. To facilitate this you can do a SWOT test which is expanded as Strength, Weakness, Opportunities and Threat. As the name suggests, it will help you identify your strength and opportunities available in the industry through an analysis of your competitor’s strength.

    Automation of Tools

    All the above mentioned tips are for the betterment of your business. It will be extremely helpful if you can automate the search process so that the only thing that you have got to do is to improve the efficiency.

    Even that can be achieved through various online tools available. Usage of tools to automate your search is highly recommended considering the unique and unfortunate  fact that the searching part is futile while the results are invaluable. So if you can automate your tools, then don’t waste your time.


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    Top Tools You Can Use to Ease Your Way to Analyse Your Competitors

    • AdSpyder
    • Zappier
    • IFTTT
    • Open Site Explorer
    • BuzzSumo
    • SEMrush
    • SE Ranking
    • Sprout Social
    • Phlanx
    • Ahrefs
    • Similarweb
    • Mailcharts
    • Owletter

    FAQ

    What is a social media competitive analysis?

    A competitive analysis is an analysis of your competition to find out what their strengths and weaknesses are, and how those strengths and weaknesses compare to your own.

    What should a social media analysis include?

    Followers, impressions, engagement, clicks/traffic, and mentions are important metrics to analyze while conducting a social media audit.

    What are some top competitors analysis tools?

    Sociality.io, Socialbakers, Sprout, Social, and Hootsuite are some of the top competitors analysis tools you should consider.

  • How Sales Automation Can Help You Boost Revenue?

    We are all undoubtedly aware of all the repetitive tasks and processes inside our sales process. Getting a sale takes a significant amount of work. Salespeople spend a lot of time analyzing what the customer wants, reaching out to them and following up. When the number of prospects or customers increases, calls, meetings, and emails become a nightmare. This is where sales automation comes into play.

    Sales automation manages the repetitive and monotonous activities in the sales process to maintain a smooth and orderly flow of work. With sales automation in place, salespeople will have more time to sell and less time to streamline the work.

    In this guide, let’s dive deeper into what sales automation is and how it can help you increase sales.

    What is Sales Automation?
    How Sales Automation Can Help Your Business Increase Sales?
    Important features of Sales automation:
    Best Practices of Sales Automation

    What is Sales Automation?

    Sales automation is using computer software or AI to automate manual, repetitive and tedious sales processes. This allows salespeople to focus more on revenue-generating activities like forming new relationships and lead nurturing.

    According to a report, many industry leaders are unaware of or have not taken advantage of, the benefits of sales automation, which are spreading across a variety of use cases.

    To capitalize on the increasing potential, sales managers need to align their working practices and their technology platforms to guarantee that salespeople and automation solutions function in unison.

    Early adopters of sales automation routinely report more customer-facing time, improved customer satisfaction, efficiency enhancement of 10 to 15%, and potential revenue uplift of up to 10%.

    How Sales Automation Can Help Your Business Increase Sales?

    Speeds up the Sales Process

    Automation allows the full sales process to be completed quickly and without the possibility of human error. What appears to be a minor miscalculation in sales might result in a significant loss for a company.

    Sales automation delegates all of the endless administrative activities to an automated system that sales agents are requested to execute on a daily, weekly, or monthly basis.

    Increases Efficiency and Profits

    Automation enables salespeople to efficiently use their time and resources that are limited like sales and budget. This means an organic increase in revenue and productivity per employee.

    Here are some of the stats to prove this:

    1. 61% of businesses using automation reported exceeding their revenue targets in 2020.
    2. 44% of sales leaders who exceeded their revenue in 2021 use competitive intelligence and market data.
    3. Companies that implement high-level automation into their sales process generate around 16% more leads than companies that don’t.

    Collects Better and More Accurate Data

    Automating lead capture saves salespeople from having to manually enter leads into their CRM system. It frees them up to spend more time prospecting for new business. This helps you define who your target market is and develop more effective marketing strategies.

    More accurate information also means better data, which leads to better forecasts. Automating and capturing the right sales data for each prospect allows organizations to run reports and forecasts with confidence without micromanagement.

    Identifies High-Quality Prospects Quickly

    Automating the sales process using the right criteria will help your team identify highly qualified prospects from those who are just looking for information. Spending more time on qualified deals means more sales and more revenue.

    61% of businesses leveraging AI-based sales automation reported exceeding their revenue targets in 2020. Lead nurturing automation has increased conversion rates for various brands.

    Provides Customer Behaviour Insights

    You may automatically track and manage your prospects’ and customers’ behaviour as they interact with your business. When you’re ready to make a move, you’ll know more about their personal preferences. This provides you with an advantage when it comes to addressing their requirements and converting them into customers.

    Important Features of Sales Automation

    For sales agents, having more time means generating more sales. Businesses can leverage automation technologies to build a hybrid sales experience which includes both humans and software. Certain duties are done automatically by the software, while others are still overseen by the sales staff. Automation can handle a variety of jobs, including lead management, communication, activity tracking etc.

    Lead identification & qualification

    With the lead management feature, automation allows you to analyze a lead’s behaviour automatically, then arrange, rank, and classify those leads before allocating them to the best sales agent.

    It would take many hours for a human to examine all of that information to qualify a lead. A software program, on the other hand, can do it in minutes. As a result, salespeople have a better-refined list of leads to convert into paying clients.

    Communication

    Email, chatbots, and appointment scheduling software are all examples of communication automation. Salespeople have little time, but our customers want quick responses. Companies can use communication automation to set up an automated method for handling client conversations.

    Customers can still get emails, arrange appointments, and interact with chatbots on the company’s website to discover the right product or service even when everyone at the company is occupied with a task.

    Tracking tasks & activities

    Automation enables you to keep track of emails exchanged, meetings booked, and phone calls made so that everyone knows how far a sales agent has advanced with a prospect.

    Knowing how many stages have been completed and how many remains ensures that the process is uniform and repeatable. Furthermore, by automating activity tracking, sales agents are relieved of the need to manually log their actions.


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    Best Practices of Sales Automation

    Don’t automate only for the sake of automating. Design an automation strategy specific to your business use case. Examine your processes and workflows to see where automation might boost efficiency. To keep everyone responsible, create an executable plan with trackers and milestones. The effect of automation becomes plain and actionable in this manner.

    Once you’ve identified the ineffective aspects of your sales process, you’ll be able to see which sections require automation. It is now time to identify your goals. Set explicit and quantifiable goals for what you hope to accomplish with automation.

    Create a systematic and repeatable method for reviewing, analysing, and selecting automation possibilities to grow sales automation. Create standards that qualify as a suitable candidate for automation, as well as a mechanism for analysing time and money expenditure vs. return on investment.

    Clearly explain automation goals and plans throughout the company, and identify individuals or departments who will be required to implement new techniques.

    FAQs

    How does automation increase revenue?

    Automation will help your sales team focus on closing sales as most of the repetitive tasks will be performed by an automation tool.

    How sales office automation software can help in sales analysis?

    Sales office automation can help you eliminate repetitive tasks so that your team can focus on closing sales.

    How do I automate my sales?

    Schedule appointments, automate your email follow-ups and automate your lead list building.

  • 7 Amazing Ways to Spy Your Competitor on Facebook

    When social media platforms were developed, the primary intention was to help people connect with others around them. However, over the years these platforms have developed into profound tools for marketing one’s business. It is interesting to note that these platforms have not only evolved as a marketing ground but also as a battlefield wherein brands compete to win the attention of the customers.

    Marketing and the resultant competition have only increased over the years, especially with the increase in e-commerce. Hence, it has become all the more important to trace the activities of your competitors that sell the same range of products to the same target audience.

    Since information is much more public on these platforms, it will be easier for people and brands to have access to the important details about the plans of your competitors. This article will focus on Facebook and explore the ways in which brands can analyse and infer information from their competitors through this platform. It has to be noted that these ways can be looked up by budding brands as well so as to learn and develop their own marketing strategies.

    WIDGET: leadform | CAMPAIGN: Link Building

    1. Befriending the Competitor
    2. Following Competitor’s Ads
    3. Advertising at the Right Place
    4. Analysing Content Engagement
    5. Following the Comments of the Competitor
    6. Analysing Sources of Traffic
    7. Using the Right Tools

    1. Befriending the Competitor

    One of the first and the smallest yet most important thing to do when you try to spy on your competitor through Facebook is to ensure that you follow all of their pages, groups and accounts. Not only that, these online outlets should be visited regularly to keep in touch with any kind of updates.

    Social media platforms being as democratic as they can be, paves way for excellent competition analysis through the amount of information it puts out there in one way or the other.

    Following them can be a great way of getting ahead of your competitor or reducing the impact of campaigns that would have been groundbreaking if not for a similar intervention by the others.

    2. Following Competitor’s Ads

    It is well-known that over the years Facebook has evolved as an important advertisement platform. Being someone who wants to follow up on the functionalities of their competitors in this digital platform, it is important to dig deeper into this than just watching them.

    In such a situation you can use the options like “Why am I seeing this ” on the sides of every ad in order to understand more about the competitor’s target audience and other intentions.

    Why am i seeing this ad feature by Facebook
    Why am I seeing this ad feature on Facebook

    By getting details about the target audience or the target location one can curate a detailed counter-plan by paying close attention to the details that you might have missed in your own campaigns. For example, if there is a location that the competitor has focused on that you haven’t, this can be an opportunity to include the new place in your campaign.

    3. Advertising at the Right Place

    It is not just enough to follow the ways in which the competitor engages with Facebook for marketing. Developing counter strategies and executing them is also a part of this constant spying.

    Details of the followers of the competitor can be obtained directly from the page. It will be beneficial to advertise to the followers of competitors. Keeping up with the followers of your competitor not only helps you focus on a specific audience but will also increase the chance of them switching to your brand.

    4. Analysing Content Engagement

    One of the biggest game-changer when it comes to digital media marketing is the impact of content engagement. Anybody can create content publicising or promoting their own company. However, as long as there is no content engagement or viral content, the entire act becomes futile.

    Analysing the content engagement statistics of your competitor is an excellent way to keep up with them. Sites like Facebook’s Top Posts help you break down the details of content engagement including their organic reach. Following successful patterns and trends within the page of competitors can be a great way of adapting and improvising your own strategies.

    5. Following the Comments of the Competitor

    Understanding how the competitors negotiate through the concerns and opinions of customers is an efficient way of making sense of their marketing patterns. Each content that one posts on Facebook have a provision to accept comments.

    Additionally, unlike on Twitter, one can easily follow a single comment to do a thorough follow-up on Facebook. Hence following the comments that deal with the queries and concerns of the customer will significantly help in understanding the prevalent practices in the competitor’s firm. It is indeed a good way to learn and adapt to hitherto unnoticed things.

    6. Analysing Sources of Traffic

    Finding the root cause of everything that is happening is the best way to tackle any situation. This goes a long way in the case of analysing competition as well. It is quite natural that every company spends a certain amount of money and makes sure that their ads reach more places especially when organic traffic dies down. However, it is always important to understand where their traffic comes from.

    You can use various tools like SimilarWeb for this purpose. While doing this analysis, make sure to target the most popular pages of the competitors for efficient results.

    SimilarWeb
    SimilarWeb 

    7. Using the Right Tools

    As digital marketing thrived, various online tools were also introduced to make the process of competition analysis easier. They, in many cases, get the news or ads in front of you instead of you having to go and hunt for them in the feed. Here are a few of them

    AdSpyder

    AdSpyder helps you to spy on your competitor’s ads on all the platforms. It can help you to track your competitor’s Ad campaign on Facebook. You can know what is working for your competitor and which is their winning ads.

    AdEspresso

    This tool has over 15,000 advertisements fed into it which can be retrieved through keywords, industry or goals. It helps you greatly to narrow down your searches and enhance your focus.

    Moat

    They provide you with high impact creatives on Facebook, YouTube, Snapchat etc to ensure that the user never misses a single update by the competitor. It helps you in providing valuable insights.

    Zapier

    This app is integrated with Facebook and has been helpful ever since. All you need to do is to make an account with them and choose your preferences. It provides you with important insights that inform the user exactly about the functionalities in the Facebook page of the competitor

    Graph Tips

    It is yet another site that helps the user with a lot of information about their competitor. Unlike other tools, this one also helps in getting to know what the competitor is up to outside their own page.


    Best Ad Spying Tools for Digital Marketers in 2021
    10 Best Ad Spying tools for comprehensive competitors’ ads analysis including SpyFu, SpyOver, AdSpy, Anstrex, PowerAdSpy, Social Peta, Adbeat, iSpionage, AdPlexity and BigSpy


    Conclusion

    Competitor analysis is indeed a great way of streamlining the strategies of one’s own firm. However, it is also necessary to keep in mind the ethics of privacy and consent while using various forms of data.

    FAQs

    How can I spy on competitors on Facebook?

    Follow competitor’s ads, Analyze the traffic of your competitors, and Use the right spying tools.

    How do I track traffic on my competitor?

    SimilarWeb is a great analytics tool that’ll help you track your competitor’s traffic.

    What is Facebook transparency?

    Facebook Transparency is a feature by Facebook that lets you view the complete information about the ad on any page.

  • 5 Ways You Can Make Money With Non-fungible Tokens (NFTS)

    With the growing digitalization, a famous crypto trend is moving along. And that’s NFTs, Non-Fungible Tokens. NFTs are shining all over the internet. Through this, many creators and investors have made remarkable figures that have literally changed their lives.

    NFTs began with 69.3 million sales, which broke over the internet and transformed the perspective of people towards these digital collectibles. Today, numerous people are getting on with NFTs. They are buying, selling, and investing tons in order to get the fancy outcome.

    With such immense popularity of these crypto – NFTs, people are researching it more vibrantly. And on that note, we have presented this article carrying all the requirements information and ways to make money from NFTs. The world is growing and in order to keep up with it, you need to be smart and advanced. So, let’s get started with how to make money from NFTs.

    What are NFTs?

    Number of NFT Users in 2021
    Number of NFT Users in 2021

    Before we move further with the ways to make money, let’s discuss what are NFTs?

    NFTs are known as a collectible digital asset that carries value as cryptocurrency and art or culture. NFTs are elaborated as Non Fungible Tokens. NFTs are quite similar to Bitcoin and Ethereum. But, it’s a very distant form of crypto that can not be exchanged aka non-fungible.

    The most significant thing about NFTs is that it is formed to store extra information, equalized above a pure currency and makes it into the vicinity. NFTs are classified into various exclusive parts, plus they can be formed in digital art form or music files, that can be easily sorted digitally and can carry a value. For example, you will get a JPG file instead of getting a physical oil painting on canvas.

    Let’s move forward to understand how to make money with NFTs.

    1. Creating and Selling NFTs
    2. NFTs Stake
    3. Trading NFTs
    4. NFTs Games
    5. Get into NFTs Startups

    How to make money with NFTs?

    Creating and Selling NFTs

    OpenSea - NFT Marketplace to buy & Sell NFTs
    OpenSea – NFT Marketplace to buy & Sell NFTs

    If you are some sort of creator or artist and you want any of your work to monetize, then you can use them as NFTs. Basically, you create something and sell it as NFTs. Through this, you will increase your income. You can create original memes, music, audio clips, digital art, or any other.

    This is a great chance for you to increase your income through your work as NFTs. Go, Get started with it!

    NFTs Stake

    In crypto, you can safely keep your digital assets in the form of a stake and allocate them to only those who are willing to manage their upkeep.

    As in return, you will be rewarded with some share of the stake. Through this, you can win tons of rewards and inducements on numerous famous websites just by staking your NFTs.

    Trading NFTs

    NFTs Trading
    NFTs Trading

    Among the numerous ways, trading NFTs are quite popular. You can easily trade NFTs by selling and buying them in profitable deals. In fact, one of the creators has made 1,000 times more than their work’s initial price.

    Although all NFTs don’t come out with the counterpart. As some of them hold a worth even higher than a million while some are as good as worthless. That’s why before getting started with your NFTs, you need to do a thorough analysis on where to trade and how.


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    NFTs Games

    NFTs also come with various games with advanced technology. Although NFTs games aren’t that much popular but with high potential as these have, they will rise pretty soon.

    The gamers invest with tremendous fortune into virtual gaming. If any gaming company sells their potential game as NFTs, then this will bring enormous profit to the gamers as well as gaming companies.

    Some of the NFTs game developers are known to be with the biggest ambitions towards the non-fungible tokens. Its in-game commodities are even more fascinating and are considered the future of the whole non-fungible technology. NFTs games carry a great future in hand with immense technology.


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    Get into NFTs Startups

    NFTs are known to have dozens of applications in several companies that hold the potential to transform the world. Therefore, investing in any of the NFTs startups is a great indirect way to earn money from NFTs crypto.

    NFTs startups are growing vibrantly and are proven extremely innovative as well as promising. That’s why investing in these would bring great results to you.

    Conclusion

    In the upcoming future, NFTs crypto is going to rise even more brightly. It comes with various distinct applications that carry great potential in itself. And this is just the beginning of it. NFTs carry great potential but still, in the market, it does not have that much recognition and is very underrated. These are built with huge advancements and soon, they would be on the top.

    Those who know its potential and capabilities are earning enormously. Celebrities are also promoting NFTs. These are making tremendous profits through NFTs. There are various ways through which you can earn by NFTs. And as we have listed those in the article, you’d find it very intriguing.

    There’s still a long run for crypto, but with such growth and development, people are getting more and more attracted towards it. Stay tuned for more updates!

    FAQs

    What are NFTs?

    NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

    What is the best marketplace to sell NFTs?

    Some of the top NFT Marketplaces are:

    • OpenSea
    • Rarible
    • SuperRare

    Can anyone sell an NFT?

    Yes, anyone can create and sell NFTs.

    How to buy and sell NFTs for profit?

    The most popular way is to buy an NFT at a low price and then sell it at a higher price for a profit.

    How to make money with NFTs?

    Best 5 ways to make money with NFTs are:

    • Creating and Selling NFTs
    • NFTs Stake
    • Trading NFTs
    • NFTs Games
    • Get into NFTs Startups
  • Social Media Advertising Strategy: 8 Steps To Better Performing Ads

    One of the best ways to reach out to your brand is by doing social media advertising. It’s also estimated that more than 70% of the population spends their leisure time looking through social media, therefore it’s become an opportunity for any company to advertise their brand.

    Moreover, social media advertising is considered an integral part of business growth because it primarily focuses on users’ demographic information and develops ads based on their sector of interest.

    For this, social media analytics work on gathered data of user’s socio-demographic and interest information from various social networks such as Instagram, Facebook, LinkedIn, Twitter, etc, that could make advertisers develop relevant ads and make business decisions.

    One example of social media advertising is when you notice post adverts while scrolling through your feed, such as Nykaa promoting their brand collection with a ‘Shop now’ button below the post.

    There are different types of advertising on social media platforms like sponsored stories, swipe-up, CTAs, photo & video ads, messenger advertising, page post ads, external website ads, and many more. The goal of social media advertising is to create dependable content, engage with followers, and run ads that grab the targeted audiences all at once.

    Paid campaigns rarely pay off in terms of marketing your company’s products; instead, you should focus on strategic social media promotion, as that would ace your business in building brand awareness.

    WIDGET: leadform | CAMPAIGN: Link Building

    Here are 7 measures that a marketer should follow to have higher-performing advertising on social media platforms.

    Set Your Campaign Objectives
    Select Your Social Media Platform
    Target Your Audiences
    Post Organic Content
    Create Marketing Funnel
    Optimizing Your Advertising Strategy
    Spy on Competitor’s Ads
    Follow-up
    FAQ

    Set Your Campaign Objectives

    To run a successful social media campaign for your company, you must focus on five key objectives: boosting website traffic, increasing awareness, improving engagement, increasing lead generation, and increasing sales, all of which will help you positively establish your brand.

    Increase Traffic

    To improve your website traffic, you have to create dependable content with popular hashtags regularly, use social media to reach more people, use relevant keywords, SEO optimization, efficiently build inbound links, write guest posts for other websites to increase brand authority, and so on.

    Increase Visibility

    Build a reliable relationship among audiences by creating high awareness that would result in more purchases plus increase your brand name.

    High-level of engagement

    Posting regular content, sharing, commenting, and responding to feedback on your website or social media platform would enhance high engagement. Only when you have engagement on your platforms, then only it will be visible to a good amount of audience.

    Increase Lead Generation

    Lead generation refers to the prospects’ contact information, whereby the method of sensing a prospect’s special interest in your brand’s product or service will finally give out the brand’s perfect leads, and lead generation refers to the prospects’ contact information.

    Increase sales

    Post intriguing advertisements, release new features and provide discounts to targeted audiences to persuade them to buy your product.

    Select Your Social Media Platform

    Each social media network, such as Facebook ads, Instagram, Twitter, WhatsApp, LinkedIn, and others, offers several advantages in terms of marketing your business. Instagram, for example, has several advantages over Facebook, including increased exposure, image/video ads, IGTV ads, Shopping ads, Carousel ads, and so on.


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    Target Your Audience

    To succeed, the first step is to reach out to your target audiences. To do so, you must evaluate subgroups such as demographic, psychographic, behavioural, and geographic segmentation that are taken into account, within the target audience to give more personalized messaging and build deeper connections.

    Post Organic Content

    Anything you create that isn’t paid for and may be found by people through a keyword search is considered organic content. This will aid in the creation of new content as well as the development of trust among your target viewers.

    Create Marketing Funnel

    Don’t make the same mistake the other advertisers do, create a marketing funnel. The three-layered funnel that three-layered funnel is Awareness, Transaction, and Consideration.

    Optimizing Your Advertising Strategy

    Choose the best out of the best strategy. Use a captivating ad to attract more audiences. Optimise your strategy with careful balance as all the competitors in the field are trying to reach out to the same customer. Use your bids carefully but don’t keep very few bids if you want to reach more people.

    Spy on Competitor’s Ads

    Another way to make your advertising strategy work is to look at your competitor’s strategies and learn from them. You can use adspying tools to do this, as they help you in understanding to make your ads better.

    One of the best adspying tools that you can use is AdSpyder. It gather all kind of information of the advertisments and their campaigns of your competitors and also analyse the SEO strategy as well. Different types of platforms like, Facebook, Instagram, YouTube and others analytical insights of your competitors can be attained with the help of AdSpyder.

    Follow-up

    Regularly follow up, alter and refresh your content and ways of promoting. Have a follow-up and try out some unique stuff, don’t be afraid to try new things as only distinct things and refreshing ads catch the audience’s attention. These refreshing ads can be a plus point if they are executed properly.

    Conclusion

    Everyone’s strategy is different and unique. And there is no single way to advertise your product or brand. There are millions of ways, to do what you are best at. These social media outlets will assist you in reaching your goal. To help you we have mentioned some best strategies that will assist you in reaching the maximum.

    FAQ

    What are the five most effective social media marketing strategies?

    Leverage AR and VR, Hire micro-influencers, build a loyal customer base, and use videos in your social media marketing strategy.

    What is the most powerful social media marketing strategy?

    Retargeting is one of the most powerful social media marketing strategies. These customers are most likely to convert into new users.

    What are the 6 types of social media?

    The types of social media are social networking, bookmarking, social news, media sharing, microblogging, and online forum sites.

  • 15 Proven Ways to Increase Your Average Order Value

    Every extra penny earned need not come from a new customer!

    Sometimes it only takes a few tweaks to encourage your existing customers to spend more on your eCommerce store. After all, they already trust you and are 60-70% more likely to place an order.

    For instance, we all have visited some fast-food chains such as McDonald’s. Food chains like these boost their sales by offering combo offers (Buy burgers, fries & coke to save ₹89) or small ad-on like french fries.

    Essentially 4 major metrics impact your eComm store: Number of new customers (over a period of time), Average order value (AOV), Repeated orders, and Marketing/ retention costs.

    Today we will focus on ways to enhance the average order value of your store. Before we jump onto strategies, let us understand what the average order value is and why it is important.

    1. Increase Free-Shipping Threshold
    2. Cross-Sell
    3. Upsell
    4. Create Combo/ Bundle offer
    5. Offer Discounts on Bulk Orders
    6. Loyalty Programme
    7. Personalized Experience
    8. Time-Sensitive Offers
    9. Add Social Proof
    10. Free Gift
    11. Incentivize First Purchase
    12. Build Trust and Authority
    13. Flexible Return Policy
    14. Coupons (Product Discounts)
    15. Downsell Add-ons

    What is the Average Order Value?

    The average order value is the average amount spent on your store by a customer that purchases from you. For instance, in a month, your store gets 500 orders and generates ₹50,000. Then, the average order value is ₹100 for your store.

    Average Order Value= Total revenue/ Total number of order

    How would you feel if a customer enters your store looking for a ₹200 purse But, then purchase a purse and other accessories worth ₹1500.

    So, an increase in the average order value helps in:

    1. More revenue without extra marketing spent
    2. Increasing customer lifetime value (LTV)
    3. Recovering customer acquisition cost
    4. Increasing profit
    5. Clearing out inventory

    Generally, eComm store applications, such as Shopify, provide AOV on the dashboard. Nonetheless, you can easily calculate it with the formula. More the AOV, the better it is.

    The average order value increases when a customer places an order of a higher amount. No one wants to buy more. Your offering should have a higher perceived value to encourage buyers to spend more on your store. Note that just increasing customers will not boost your AOV. Here are 15 strategies to incentivize the customer to splurge a little extra. After all, a store earns 40% of its revenue via repeated customers.

    Now, let us look into 15 ways to increase your average order value.

    1. Increase Free-Shipping Threshold

    One of the easiest ways to increase your average order value, almost instantly, is by increasing the free shipping threshold.

    For instance, if you offer free shipping at ₹500, increase that to ₹600. Make a leap of about 20-30% of the current average order value. So, if your current average order value is ₹780. Then, increase the free shipping threshold to ₹700.

    In case you do not offer free shipping, we highly recommend opting for it. It helps a lot to move the AOV high. In alternate cases, people place small orders as they have to pay for shipping either way.

    Also, highlight this limit on the cart or at the top of the website. Let customers know that they are ₹x away from availing of free shipping.

    A great example of the same is the classic ₹500 free shipping base on Amazon.

    Free shipping threshold
    Free shipping threshold

    2. Cross-Sell

    Cross-sell means recommending and selling complementary products. They are not similar products but products related, such as toothpaste and brush. The aim is to prevent the buyer from purchasing items from different stores and provide it with all in one place.

    You could display these related products on:

    • Home page
    • Product page
    • Cart
    • Check out

    In this case, Amazon offers the option to add a tempered glass, warranty with the mobile phone.

    Cross-selling
    Cross-selling

    You can take this a step further by providing what other buyers pair the product with and personalized recommendations based on user history. Another effective way of cross-selling is by recommending a product after the order confirmation at a limited time period discount.

    3. Upsell

    Upsell means selling an upgraded version of the product. It can mean recommending a higher version of a product or a larger size.

    For instance, you can recommend a more expensive camera model for added features and better utility.

    Upselling occurs in two ways: upgrading to an expensive model or high-profit margin services such as an extended warranty.

    You can offer a comparison chart like this on the product page itself. It should clearly communicate why the upgrade is worth those pennies.

    Comparison chart for upselling
    Comparison chart for upselling

    4. Create a Combo/ Bundle offers

    Let us say you enter a store to buy a printer. What if the seller offers you 4 cartridge ink and printing paper all together at a discounted rate? Would you not be tempted to buy it all?

    Similarly, you could create bundles or combo offers with related products to make a higher value sale. You could also provide custom combos/bundles to make it more engaging and relevant.

    Combos/ Bundles
    Combos/ Bundles

    These bundles really work well in case you see multiple small purchases in the store. This one again ensures the purchase of related items all from your store instead of different stores.

    WIDGET: leadform | CAMPAIGN: undefined

    5. Offer Discounts on Bulk Orders

    One of the best ways to increase basket size is to offer great discounts on bulk orders.

    Display clearly the savings on placing a bulk order. It is similar to wholesale orders where customers get an added discount due to bulk purchases. These bulk orders could be customizable, which would further enhance the ROI of the strategy.

    Here is a WooCommerce plugin to add discounts to your bulk orders.

    WooCommerce Plugin
    WooCommerce Plugin

    6. Loyalty Programme

    Many brands have loyalty programs for their customers. It aims to encourage regular customers to purchase from the brand in exchange for various perks.

    They work great to increase repeated orders. Also, repeated customers tend to spend more on the store compared to new customers.

    You could offer benefits such as a lower free shipping threshold, early access to sales, 24/7 customer support, cashback, bonus points, free samples on each purchase, and much more.

    Loyalty program
    Loyalty program

    7. Personalized Experience

    A personalized shopping experience can enhance the customer’s experience via curated recommendations. It generally eases the process of navigating through the website.

    You can personalize product recommendations based on their search history. You can offer custom bundle offers depending upon their activity on the website. You could also recommend product refills and repeat purchases based on the order history.

    Personalized product recommendations
    Personalized product recommendations

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    8. Time-Sensitive Offers

    Provide limited-time offers to create a sense of urgency among the buyers. Time-sensitive offers combined with dedicated product discounts could boost the average order value.

    Offer product discounts, remove the free shipping threshold, provide discounted bundles, or any other incentive to encourage people to purchase.

    Highlight special offers on the product page, homepage, and cart to make sure that people know about the limited-time deal.

    Limited Time Offers
    Limited Time Offers

    9. Add Social Proof

    Social proof is crucial to stimulate sales for any store. But, how would it impact the average order value?

    Add customer reviews and ratings to the complementary products while cross-selling and upselling. Also, add pictures and other social proof on your website to ensure trust and build credibility.

    There are many products on Amazon that do not sell only due to the absence of reviews and any other social proof. Hence, testimonials and social proof are really important to encourage sales and average order value.

    Provide Social Proof
    Provide Social Proof

    10. Free Gift

    Offer Free Gifts
    Offer Free Gifts

    Offering gifts to your customers can be a great incentive. You could offer free samples or gift cards at a certain threshold. This would increase the average order value. Free samples, as well as gift cards, could also stimulate future purchases.

    Keep in mind your margins decide the value of the gift. You do not want to bear the cost of free items.

    For free samples, pick items or variants that don’t generally perform well to keep the inventory running. You could also give special offers on special occasions and boost sales.

    11. Incentivize First Purchase

    For a new eCommerce store, it is crucial to get the first hundred/ thousand purchases. You can motivate people to make their first purchase by offering them discounts, offers, and other perks on their first purchase.

    Most of the stores offer a 10 to 20% discount on the first purchase from the website or their application.

    In this image as you can see, Amazon goes a step further and offers free shipping on the first order but in a particular category. This would motivate customers to purchase from different categories. It’s a great strategy in case you do not see sales in a particular section of your store.

    However, ensure to promote the offer to your customers effectively to ensure order placement.

    Offer on first-time purchase
    Offer on first-time purchase

    12. Build Trust and Authority

    Building trust and authority is crucial for eCommerce stores. People might avoid placing orders or not come back if they do not find your store reliable.

    Mention the policies very clearly and have FAQs in different sections of your stores. Use live chatbot and other customer care services to ensure credibility and security. These things do not affect average order value directly but play a major role in impacting customer psychology.

    Simple things like a dedicated domain name, customer reviews, and contact details make a huge difference.

    13. Flexible Return Policy

    For the longest time, people did not purchase from online stores due to a lack of trust and quality assurance. People prefer offline stores as they can return the items in case of defects or any other discrepancy.

    Offering a flexible return policy helps your store build that trust and encourages people to make their first purchase.

    Today, most eCommerce stores offer a return policy of 15-30 days. As a result people also purchase more products as they are assured that they can return the products if something has to happen.

    Flexible return policy
    Flexible return policy

    14. Coupons (Product Discounts)

    Buy 2, Get 2 Free!

    We all get tempted to buy 2 products and pick 4 products in total to avail of such an offer. It helps companies clear the inventory, increase order value and enhance brand image.

    Coupons that offer product discounts are well received. Offers such as:

    • ₹500 off on the purchase of ₹2499
    • Buy 3, Get 1
    • Flat 20%
    • 25% off on purchase of ₹3599
    • Cashback of ₹350 on purchase of over ₹2499

    These offers encourage customers to increase their order value automatically. All these discounts need to be tactfully placed to ensure margins and sell off more products.

    Offer Coupons
    Offer Coupons

    15. Downsell Add-ons

    We do not think twice before picking up chocolate or candy at the checkout counter of a supermarket. Why? Because it is cheap.

    Similarly, you can increase the average order value by offering a complementary product that is inexpensive. It becomes a no-brainer to add a product that doesn’t cost much and pairs well with the item purchased. For instance, offering batteries with the clock.

    It is easier to incentivize the customer and at the same time increase order value.

    Offer a complimentary product
    Offer a complimentary product

    All of these strategies would enhance the ROI and get more profit. However, ensure to implement one strategy at a time and not all together. This way you can track which ones are the most beneficial and double down on those tactics.

    Also, you should clearly communicate these offers and discounts to your customers. What’s the benefit if your customers are not aware of these incentives?

    These strategies would have different effects on different stores. Hence, you need to do an A/B test and find the right way to promote the average order value.


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    3 Bonus Tips to Increase Average Order Value

    The average order value impacts your profit and your revenue. More AOV implies more profit without having to spend more. Apart from trying to sell more and encouraging customers, here are some simple ways to enhance your average order value.

    Firstly, take an analytical approach to the average order value. This involves segmenting your audience based on the amount spent by them. Start by cross-selling to the customers that spend less.

    Alternatively, customers that spend more would find loyalty programs appealing. Further, you could move on to free shipping, providing coupons, and other incentives.

    Secondly, ensure to provide a smooth website experience. A website with a lot of pop-ups, slow loading speed, lots of lag, or frequent crashes would negatively impact customer experience. In this case, you might not be able to sell at all and drive customers away!

    Lastly, understand your audience to provide a relevant and personalized experience. Consider what your audience needs and map out the customer journey. Find the motivation points for your customers by talking to them, looking at competitors, and analyzing past campaigns.

    Conclusion

    So, It all narrows down to understanding your customers, segmenting them, and providing suitable incentives to increase average order value. It acts as a window into the purchasing behavior of the customers. Hence, a higher average order value can attract added profit and revenue without extra cost.

    FAQs

    How do you increase the average value of a basket?

    Upsell your products, provide free shipping, keep time-sensitive offers, personalise customers’ experience, and provide bundle offers.

    How is the average order value calculated?

    You can calculate your average order value by simply dividing total revenue by the number of orders. For instance, in a month, your store gets 500 orders and generates ₹50,000. Then, the average order value is ₹100 for your store.

    How can I increase my eCommerce AOV?

    Provide bundle, provide limited time offers, offer free shipping on minimum orders, and keep a flexible return policy.

  • What is Marketing Gamification and How Can It Help You Increase Sales?

    Marketing gamification is the process of using game mechanics and psychology in order to engage and motivate customers. It can be used to increase sales, encourage customer loyalty, and deepen engagement with a brand.

    There are many different types of gamification marketing strategies that mostly rely on using rewards, punishments, or other motivators to influence behavior. If done correctly, marketing gamification can be an incredibly effective way to boost your business. However, it is important to understand the basic principles of gamification before you get started.

    What is Marketing Gamification?
    How Can Marketing Gamification Help You Increase Sales?
    Tips to Increase Sales Using Marketing Gamification
    5 Best Practices for Implementing Gamification
    Brands that Use Gamification in Marketing

    Gamification Market Value Growth Worldwide (2016-2021)
    Gamification Market Value Growth Worldwide (2016-2021)

    What is Marketing Gamification?

    The basic premise of marketing gamification is the use of game mechanics and game thinking in marketing campaigns and strategies in order to engage customers more effectively and target consumers. Gamification can be used in various ways, but some common examples include using points, badges, and leaderboards to encourage specific behaviors, offering discounts or prizes for completing certain tasks or incorporating game design elements into marketing collateral.

    The use of gamification in marketing is a relatively new concept that is quickly gaining popularity. Gamification can take many forms, but essentially it involves using game-like elements and mechanics to engage customers and promote desired behaviors. When used effectively, gamification can be an extremely powerful marketing tool.

    Marketing gamification can be an extremely effective way to increase customer engagement and loyalty and drive conversions and sales if it is incorporated smartly. However, it’s important to note that gamification should not be used simply for the sake of using game mechanics. There needs to be a clear purpose and goal behind any gamification strategy, otherwise, it runs the risk of falling flat and coming across as disingenuous.

    If you’re considering incorporating gamification into your marketing efforts, do your research and understand how best to use it before moving forward. As with anything else in marketing, always test and measure your results to ensure that your gamification strategy is working and achieving the desired results.

    How Can Marketing Gamification Help You Increase Sales?

    Marketing gamification is a strategy that uses game-like elements and mechanics to engage customers and promote desired behavior. It can increase brand awareness, drive sales, or promote other marketing objectives.

    Gamification can increase customer engagement by making interactions more fun and engaging. It can also lead to increased brand loyalty and customer retention. Additionally, it can prompt customers to take desired actions, such as making a purchase or referring a friend.

    There are many different ways to gamify your marketing strategy. Some common tactics include offering rewards for taking desired actions, using leaderboards to encourage friendly competition, and adding elements of chance or mystery to pique customers’ interest.

    The key to successful marketing gamification is to ensure that the game elements are well-designed and add value for the customer. The goals of the gamification should be clearly defined, and the rules should be easy to understand. Additionally, the rewards should be attractive and meaningful.


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    Tips to Increase Sales Using Marketing Gamification

    Gamification Statistics
    Gamification Statistics

    The following are the top 10 tips to increase sales using marketing gamification:

    1. Offer incentives for customers to take actions that lead to sales. This could include discounts, points, or other rewards.

    2. Make the process of taking action easy and fun. Use game mechanics such as badges, leaderboards, and progress bars to keep customers engaged.

    3. Let customers know how their actions impact the company’s bottom line. Show them how their efforts are translating into real results.

    4. Encourage social sharing by offering additional rewards for customers who spread the word about your company or product.

    5. Use data from customer interactions to improve your gamification strategy over time. Constantly strive to make the experience more engaging and effective.

    6. Be sure to integrate gamification into your overall marketing strategy. Do not rely on it as a standalone tactic, or you may risk turning off customers.

    7. Keep an eye on the competition. See what they’re doing with gamification and try to stay one step ahead.

    8. Be prepared to change your approach if you do not see the desired results. Gamification is a dynamic field, and what works today may not work tomorrow.

    9. Have fun with it! The more you enjoy what you’re doing, the more likely your customers will too.

    10. Remember that gamification is just one tool in your sales arsenal. Use it alongside other techniques to create a well-rounded approach.


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    5 Best Practices for Implementing Gamification

    The following are the five best practices for implementing gamification:

    • Define your goals and objectives
    • Identify your target audience
    • Select the right game mechanics
    • Create a balance between competition and collaboration
    • Test and refine your gamification approach

    Following these best practices will help you ensure that your gamification implementation is successful. By defining your goals and objectives upfront, you can ensure that your selected game mechanics are aligned with them. Identifying your target audience is also important, as this will help you choose game mechanics that are most likely to engage them. Creating a balance between competition and collaboration will help keep players engaged while testing and refining your approach will help you further optimize your gamification implementation.

    Brands that Use Gamification in Marketing

    Starbucks - Starbucks Rewards
    Starbucks – Starbucks Rewards
    1. Starbucks’s “Starbucks Rewards”
    2. M&M’s “Eye-Spy Pretzel”
    3. KFC’s “Shrimp Attack”
    4. Hilton’s “Honors guest loyalty program”
    5. Sephora’s “Beauty Insider” loyalty program

    Conclusion

    Gamification is a hot topic in the world of marketing, and for a good reason. By understanding how to use it correctly, you can tap into your customer’s psychology and drive more sales with fewer efforts. Moreover, gamification is the new trend and both big and small brands are using it effectively to gain amazing results.  

    Thus, in today’s time, marketing gamification is an effective technique that helps in improving customer engagement leading to a higher success rate.

    FAQs

    How does gamification help marketing?

    Gamification improves engagement that ultimately leads to a higher conversion rate. It does not feel like traditional marketing, thus people are more likely to respond more.

    Is gamification a marketing tool?

    Gamification is an important tool in a marketing strategy as the end-user gets to enjoy the benefits of his/her activity.

    Does Starbucks use gamification?

    Starbucks uses gamification for marketing in the form of  ‘My Starbucks Rewards’ to increase engagement and retention of customers.

    What prominent companies use gamification techniques?

    • Google
    • Microsoft
    • Bluewolf
    • Cisco
    • Starbucks
  • Things to Know Before Hiring a Lead Generation Agency

    A lead generation agency can have a significant impact on the success of your business. By generating leads, they can help you increase sales and revenue. In addition, a lead generation agency can also help you build relationships with potential customers and clients. You can contact these individuals and offer them your products or services by providing them with leads. By doing this, you can establish trust and credibility with potential customers and clients, which can ultimately lead to increased sales and revenue.

    Things to Know Before Hiring a Lead Generation Agency

    Reasons to Hire a Lead Generation Agency

    What are the Best Sources that Generate Leads To Your Agency?
    What are the Best Sources that Generate Leads To Your Agency?

    Things to Know Before Hiring a Lead Generation Agency

    There are a few things you should consider before hiring a lead generation agency. First, think about your budget and what you’re willing to spend on lead generation services. Next, consider what your lead generation goals are – do you want more website visitors, more newsletter signups, or more sales? Once you know what you want to achieve, you can start looking for an agency that specializes in that area. Finally, read reviews and case studies to learn more about the agency’s work and see if they’re a good fit for your business. With these things in mind, you’ll be able to find the right lead generation agency for your needs.

    The following are the points that need to be considered before hiring a lead generation agency:

    Define Your Lead Generation Goals

    Before hiring a lead generation agency, you need to define your lead generation goals first. What are you looking to achieve? Do you want to increase brand awareness, drive more traffic to your website, or generate more leads? Once you know what your goals are, you can start to look for an agency that can help you achieve them.

    Do Your Research

    Once you know what you’re looking for, it’s time to do your market research and find the right agency for you. There are a lot of lead generation agencies out there, so take your time to find one that’s a good fit for your business.

    Set a Budget

    Before you start working with a lead generation agency, you need to set a budget. How much are you willing to spend on lead generation? This will help you narrow down your options and find an agency that fits within your budget.

    Ask for Referrals

    If you know anyone who has worked with a lead generation agency before, you can ask them for referrals. This can be a great way to find an agency that you can trust your business’s marketing with.

    Sales Aladin - Lead Generation Company in India
    Sales Aladin – Lead Generation Company in India

    Check Out Their Portfolio

    When you’re looking at different lead generation agencies, make sure to check out their portfolios. This will give you an idea of the type of work they have done in the past and whether or not they are a good fit for your business.

    Read Online Reviews

    In addition to checking out an agency’s portfolio, make sure to read their online reviews. This can help you better understand the agency’s work through others’ points of view and experiences.


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    Ask About Their Process

    When you’re considering working with a lead generation agency, ask about their process. How do they generate leads? What kind of methods do they use? This will help you determine if they are the right fit for your business.

    Inquire About Pricing

    Pricing is an important consideration when you’re hiring a lead generation agency. It is essential to understand their plans and pricing upfront to know what to expect.

    Get a Contract in Writing

    Before you start working with a lead generation agency, get a contract in writing. This will protect both you and the agency, and it will ensure that everyone is on the same page from the start.


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    Reasons to Hire a Lead Generation Agency

    As your business grows, so does the complexity of your sales process. You can no longer rely on a single salesperson to generate all of your leads and close all of your deals. Instead, you need to build a team of specialists who can each play a role in generating and nurturing leads until they’re ready to buy.

    That’s where a lead generation agency comes in. A lead generation agency can help you build an effective lead generation system, from generating initial leads to qualifying and nurturing them until they’re ready to buy.

    Here are a few reasons why you need to hire a lead generation agency:

    • It has the expertise and experience to build an effective lead generation system.
    • It makes use of various categories for the organization of data to make it more relevant to the target market.
    • It knows how to work with special marketing tools and thus, better sales for your business.
    • It can help you measure and optimize your lead generation efforts.
    • It can help improve your business’s online visibility.

    Thus, a growing business demands a need to hire a lead generation agency as they have the expertise and experience to build an effective lead generation system that can help you generate leads on a large scale.

    Conclusion

    Before you hire a lead generation agency, ask them about their process and how they plan to generate leads for your business. Ask for case studies or references from previous clients to get an idea of the quality of leads the agency has generated in the past. And finally, make sure you have a clear understanding of what the agency will and will not do for you.

    FAQs

    What does a lead generation agency do?

    A lead generation agency combines the information of customers and businesses that it can sell to a particular business wishing to buy new leads.

    Is hiring a lead generation agency worth it?

    Yes, hiring a lead generation agency is worth it as the businesses with efficient lead generation practices have a 9.3% higher sales success rate.

    Which are some prominent lead generation companies in India?

    • Sales Aladin
    • TDCX
    • Invensis
    • B2B Associates
    • Flatworld Solutions

    What is the difference between lead generation and digital marketing?

    Lead generation simply means initiating customers’ interest in your products and services. On the other hand, digital marketing focuses on the entire journey of buyers.

  • A Complete Guide to Become a Successful Techpreneur

    An entrepreneur is an individual who recognizes an opportunity, converts it into a product or service, determines receipts and profit, and produces a successful business with it. Now, the world is ruled by technology, and a new form of entrepreneurs has shown their ability to the world, they are known as techpreneurs.

    A techpreneur starts with nothing but a concept. They challenge ongoing practices and systems and think of doing things creatively. They design a product or solution that uses the heft and capability of technology to improve the way something was traditionally done. They succeeded admirably. To be a techpreneur, certain skills are needed.

    In this article, we will talk about the tips to be a successful technopreneur. So, let’s get right into the business.

    Why Techpreneur Is the New Breed of Entrepreneurship?
    Basic Techpreneural Skills
    Tips to Become a Successful Techpreneur

    Why Techpreneur Is the New Breed of Entrepreneurship?

    Technopreneurship is a new class of entrepreneurship. It involves the development together of people who are driven, creative, tech-savvy, passionate, and has a desire for calculated risk. Unlike entrepreneurship– the success of Technopreneurship connects to how well the team functions together.
    Technopreneurship is a costly exercise. It is not usually simple, and they have to endure, direct, and motivate their team, seek people with the funds, pitch their idea, and make them join organizations. It is here that their past work experience and network become beneficial.

    Basic Techpreneural Skills

    In addition to the entrepreneurial skills to be a successful technopreneur, some additional skills are required.

    Full Tech Stack Knowledge

    The tech stack is all the technologies utilized to deliver your commodity. While this can vary moderately based on the requirements of the startup, it usually means everything from a strong understanding of how the internet runs, to server technologies, scale factors, website knowledge, analytics, and code container administration — to name the primary points. Techpreneurs add exceptional value to the startup by assisting choose the beginning tech stack to be used to stand up the products.

    Web Development

    Each startup is going to require a web port of some kind. Whether the startup is going to launch e-commerce solutions, mobile applications, or some hardware-based output — being able to manage the website is a crucial job.
    Startups tend to pay an immense amount of time on content, branding, and presentation of their sites. Technopreneurs can take this main project, and handle it while saving money and allowing other members to focus on their duties (thereby improving efficiency for the whole team).

    Industry-Specific Technologies

    Each tech startup has its novel technologies that they are going to be using. Depending upon the trade, there tends to be some specific tech that needs to be known so the product is produced in a way that consumers can use the final product. The best technopreneur for a startup will know the industry-specific technologies that the goods will have to work with and help make crucial decisions on the front end of product development.

    Tips to Become a Successful Techpreneur

    Interestingly though, successful techpreneurs across the business do share some characteristics and some best methods. Of those, some of the tips that are considered necessary to become a successful technopreneur are mentioned below.

    Persistence

    Techpreneur requires to be persistent. Every great idea will have simple beginnings, but it is only possible by unwaveringly seeking an idea and fleshing it out regularly that can one hope to actuate and convert it into a finished product. No matter how tough this route may appear, one needs to stay true to it. Having a positive attitude irrespective of the situation eases harvesting tools to take on the challenges.

    Tech Savvy

    Good techpreneurs need to have a broad technical grasp of their product and the underlying technology included. Even though it is usually the subject matter experts who will be developing the technology for the product, it will be your thought and understanding that will finally guide them.

    Intuitive

    A techpreneur should trust their intuition. To be successful, a techpreneur should be able to intuitively imagine and harvest unseen opportunities in such situations where the rest of the world only sees obstacles. Look beyond the obstacles and try to decipher what can be used for your business.

    Belief

    Firmly believe in your product. Be very clear about what unmet need you are striving to address. And be ready to step into uncharted areas to bring your product to life and make it grow. Having a risk-taking mindset assists techpreneurs well.

    Communication

    It is essential for a techpreneur to clearly and precisely communicate the intended value proposals to all stakeholders – the target clients, the investors, and the employees. Good communication saves time, effort, and money. Not only must one regularly communicate with people looking to invest and vet your concept, but also with your team looking to grasp at the more specific aspects of your product and achieve your vision.

    Resilience with Flexibility

    Experiencing failures is a part of entrepreneurship. There are so many inherent uncertainties that some setbacks are usually unavoidable. It is important is to learn from such experiences and take all measures not to replicate them. Overwhelmingly difficult situations do arise, and in such circumstances, it will be necessary to keep patience and self-control.

    The Right Team

    The team is fundamental to the success of the idea. Companies and corporations fall untimely losses by having unwise recruitment and team-building strategies. A techpreneur must invariably centre on building a team of experienced and hard-working people having complementary skills. The team members should have faith in the vision and capabilities of the techpreneur and should be willing to work for the greater good.

    Quality

    A successful techpreneur needs to guarantee that the products and services are of good quality. Also, they must be better than their competitors. Identify that consumers buy a product when they see value in it, which is only possible when the product offers more than what they pay for it.

    Conclusion

    Becoming a techpreneur demands constant dedication and hard work.
    Despite the qualities and abilities, what many ambitious techpreneurs hardly realize is that becoming a techpreneur is not an end in itself. It is the beginning of an experience and a journey to savour and relish.

    FAQs

    Who is a techpreneur?

    A techpreneur is an entrepreneur who starts and manages their own technology business.

    What are the skills needed to become a technopreneur?

    • Persistence
    • Tech Savvy
    • Intuitive
    • Belief
    • Communication
    • Resilience with Flexibility
    • Quality
    • The Right team

    Who is the No.1 entrepreneur in India?

    Mukhesh Ambani is said to be the No.1 entrepreneur in India.