Cryptocurrencies have been gaining popularity for the past few years. With a lot of new cryptocurrencies entering into the market and surging up of their value investors are looking into investing in cryptocurrencies. In this article letās look at the Binance coin and what the experts say about it.
Binance Coin also known as BNB is one of the most popular cryptocurrencies after bitcoin. The digital coin is created by one of the worldās largest cryptocurrency exchanges Binance exchange. Binance coin offers the most crypt to crypto pairs and has a daily trading volume of around USD 50 billion.
The initial Binance coin was launched under the Ethereum blockchain ERC ā 20 token and later in the year 2019 it was changed to the Binance blockchain. Binance coin has a capitalization of 200 million and is expected to surpass bitcoins in a few years.
Reason for the Rise in price of Binance Coin
Binance coin has two major functions, one it functions as a discount token towards the fees that are paid on the Binance exchange and two it is a fuel for the Binance Smart Chain (BSC). The main reason for the surge in the price of Binance Coin is due to the BSC.
In the year 2021, the BSC had become a viable option and a cheaper option to work on compared to the Ethereum network and a lot of projects had shifted to BSC which led to the surge in the value of Binance Coin. In short, the more projects in the BSC, the more Binance coin is more in use which increases the demand and the price of the coin.
The Binance Coin had also seen an increase in its value as there is a huge trading volume in the Binance Exchange and the digital coin is still used as a discount on fees.
Most of them believe that Binance coin is one of the safest Utility Tokens available in the cryptocurrency market mainly due to its stability. However, the future is uncertain. For an average investor, one of the major reasons to hold a Binance coin is the fact that it provides a 25% discount on the Binance Exchange.
There are also a variety of different types of exchange fees that can be paid using Binance coin that include transaction fees, voting fees for new tokens, commissions and also fees for launching new instruments.
However, it was mentioned that the discount would be cut half for the year 2021 and later would be cut even more half as the years pass. The experts have conveyed that if the discounts are removed then there wouldnāt be the purpose for the traders to hold the digital coin and the value of the coin is expected to lose its value until the Binance coin provides the traders a reason to hold it.
As of now investing in BNB is a great option as it has a market capitalization of around USD 51 billion and various other discounts on the Binance Exchange. It is also one of the top utility tokens and has various benefits compared to other cryptocurrencies.
Binance coin however in the past has provided good stable returns compared to the other Altcoins but the only concern is that it is a centralized coin and it is controlled by Binance. They have the power to change the working of the coin or even make price alterations. However, before investing in the digital coin it is always advised to make proper research.
Conclusion
It is estimated that Binance would increase its value and have a market capitalization that is higher than Ethereum and Bitcoin in the coming years. Compared to other centralized coins, the Binance coin has a much better image.
FAQ
Who is Binance owned by?
Changpeng Zhao is the founder and CEO of Binance, a cryptocurrency exchange.
What is Binance coin used for?
Binance coin is an Ethereum-based (ERC-20) token that can be used to trade cryptocurrencies and pay for fees on the Binance exchange.
Is BNB coin a good investment?
Binance coin has a market cap of over $51.08B and various benefits, so investing in Binance is worth it. Although before investing in the digital coin it is always advised to do a proper research.
Global Market has been revolutionized through the Blockchain technology. The technology has disrupted the major sectors which include finance, agriculture, banking and health care. Ethereum is one of the largest cryptocurrencies in the market and a lot of decentralized apps and smart contracts have been build using the Ethereum network. Letās look at what exactly is Ethereum 2.0 and Will it replace Ethereum?.
Ethereum 2.0 is the modified or an upgraded version of the already existing Ethereum blockchain. The main aim of Eth 2.0 is to increase the number of transactions by increasing the scalability and the speed of the previous Ethereum network. Ethereum is known as Eth2 or Serenity and it is the pseudo name for the new version.
As compared to the previous version of Ethereum network, the Ethereum 2.0 has some fundamental changes in its design and structure. The two major changes that were done in the Ethereum 2.0 are sharding and proof of stake.
What is Sharding?
Sharding is a process through which there is a multiple blockchain split through a single blockchain. The multiple blockchains will be known as shards and it would make the entire network of the Ethereum blockchain more efficient.
There will be an increase in the efficiency as the multiple blockchains will be handled by multiple validators which will reduce the workload. The information related to a particular shard will be maintained by a particular validator and there would be regular shuffling between the shards in order to avoid any kind of manipulation between the validators.
The communication and the coordination of shards are conducted and maintained through the beacon chain.
Proof of Stake
In the mechanism of proof of stake, the miners would be replaced with the validators. Their major role would be to validate the transactions by providing storage, computer power, maintaining the bandwidth and proposing new blocks.
The validators will be paid using ETH periodically and in order to reduce the malpractices the validators will have to provide a deposit of 32 ETH which should be locked in and the deposit will be forfeited fully or partially if the validators involve in a malpractice.
Working of the Ethereum 2.0
The most important aspect of the Ethereum 2.0 blockchain is the validators. They are the ones responsible for the maintenance and the infrastructure of the cryptocurrency. Every validator will have two keys with them which are the signing key and the withdrawal key.
Signing Key
In order to perform the work for the blockchain, a signing key is used. The sign in key must be active 24/7 as the validators have 3 main functions which include adding blocks and proposing the blocks to the beacon chain or the shard chain, to report if there are any malicious behaviors from the validators and to attest the validity of the shard chain or beacon chain.
Withdrawal Key
The actions on the funds are controlled by the withdrawal key. There is no necessity that the withdrawal key should be available 24/7 like the signing key. However, the validator needs to ensure that the withdrawal key is secure as it has control over all the funds and that is one of the major reasons why the validator has to lock up 32 ETH in the beacon chain.
However, the validators do not work alone, they work in a group of around 128 validators as a committee.
Price of Ethereum 2.0
Difference between Ethereum and Ethereum 2.0
The Ethereum and Ethereum 2.0 have a major difference in the mechanism they work on. Ethereum works on the mechanism of miners, where they have to solve a puzzle to record a transaction and whoever solves the math puzzle first will record the transaction, it is called proof of work. Whereas Ethereum 2.0 works on the basis of proof of stake where the validators record the transaction.
Ethereum consumes a lot of energy as it requires a high amount of computer power but Ethereum 2.0 uses a comparatively lesser amount of energy.
Price Predictions of Ethereum 2.0
There are a lot of price predictions related to Ethereum 2.0 PrevisioniBitcoin has predicted the price to be around USD 4740 for the year 2022. Coinpedia, Longforecast and Coinpriceforecast have predicted the price to be around USD 8000.
However the highest prediction is that of Brian Shuster who is the CEO, president and chairman of several companies. He predicts the price of an average single coin of Ethereum 2.0 to be around USD 100,000 and expects a market cap of 10 trillion which is that of gold.
When will Ethereum 2.0 launch?
The Ethereum network is already the second largest in the cryptocurrency market with around more than 1,400 Ethereum projects being built. The launch of Ethereum 2.0 will be in stages and is expected to be in the market by the year 2022.
The Eth 2.0 however has a lot of advantages and a higher scalability option compared to the Ethereum network and it is expected to increase the interest of the investors in the coming years.
Conclusion
Ethereum 2.0 is considered to be much more secure than the Ethereum network and will be faster as it is expected to have a transaction of around 10,000 per second. The Ethereum 2.0 will concentrate on building more projects.
FAQ
When will Ethereum 2.0 launch?
A full scale launch of Ethereum 2.0 is expected till 2022.
Will Ethereum 2.0 replace Ethereum?
No, Ethereum 2.0 will not replace Ethereum but It is an upgraded version of Ethereum.
Will Ethereum 2.0 affect Ethereum price?
The value of ETH goes up and down every day so its unclear to say Ethereum will affect the price or not.
Funding is an important stepping stone for any startup. And the lack of funding is the second highest reason behind the failure of startups. Capital is the backbone to keep any startup running. Hence pops the question – How do I fund my startup and what are the ways to go about it.
This is one of the easiest ways to obtain funding, well because, you are funding yourself or borrowing money from friends and family with or without interest. This removes the hassle of having to explain your whole plan to prospective investors and hoping that they will believe in your idea as much as you do to invest in it. This is ideal for first-timers because you have no track record of success or experience, two things that are important to investors.
So, if it is your first time, it is better to save some amount first before jumping into the startup pool full time. Startups will definitely not pay the salary you are used to at the start. Rather, you have to pay to keep it afloat. Also, self-funding is advantageous in the fact that you have full control and ownership of your startup. You need not sell equity in exchange for money in case of other funding methods.
Loans From The Bank
We generally think of banks when we need money. Banks can give you a suitable loan necessary to either keep your startup afloat or scale-up. But banks usually have a certain strict criterion they need you to meet before deeming you eligible for the loan. And their rates of interest are also not very borrower-friendly, especially for large amounts.
Loans from the banks
On the bright side, you will have full ownership of your startup. You donāt have to explain your plan to the bank and make them believe in the idea. All you need to do is put up collateral and see if you meet the criteria for eligibility. Only go for this method of funding if you are confident you can pay the money back with interest.
Government Programs
The government has several schemes in place for startup funding, especially if it is for a social cause, like rural healthcare, fighting crimes against women, dealing with water crises, etc.
The Micro, Small and Medium enterprise act of 2006 āfacilitates the promotion, development and also enhances the competitiveness of micro, small and medium enterprises and for matters connected therewith and incidental theretoā Registering under the MSME act will make your startup eligible to benefits depending on whether it is a product or service and startup costs involved.
There are multiple schemes in place for different kinds of products and do your research to find the one most suited for you. The government has long since recognized the power of the startup ecosystem in a budding economy and is eager to help it flourish.
This is a recently popular method to get funding for your startup. Here, you donāt have just one, but multiple investors for your startup. All you have to do is choose a crowdfunding platform, and explain your business to the audience. You donāt have to explain the technical know-how of the product/service, just what the product/service is for, how it works, and why you need the money.
You also have to offer something in return. That can be anything- from exclusive product launch invites to limited edition version of the products or if necessary, equity. That is completely up to you and it should also satisfy your investor.
Crowdfunding
Getting crowdfunding for startups is also a great way to get a reality check. It will tell you whether your product has an audience. You will also get customer feedback. This is a chance for you to get in touch with your audience and slowly generate a customer base by keeping them engaged and making them feel as if they are a part of your journey. It is a great way to get loyal customers.
Angel Investment
Angel investors are people or a group with surplus cash and looking to invest funds in startups. They are also quite willing to take risks if they feel your startup is worth it. They expect the equity in return. So, think twice before seeking angel investors because they might want to assume more of a management role than you might be comfortable with. Angel investors offer valuable mentorship because they have invested money in you and would like to see you succeed. Look for investors who have experience in the same domain your startup comes under. Network well and have a few options in hand before you seek out an investor or angel investing group. Be prepared to face rejection along the way.
Venture Capital
This is the go-to method for people experienced in the startup domain. Venture capitals are like the benevolent godmothers for any startup. Venture capitalists provide you guidance, constantly evaluate your startup in terms of scalability and profitability to guide you on how to proceed so that they can get maximum returns because they hold equity.
Venture Capital
Which brings us to the same question with angel investors – how much control are you ready to relinquish? Because here the stakes are higher. And the investors will be on the lookout for returns as soon as possible. That rules out expecting any loyalty towards you. The startup ecosystem is as exciting as it is cutthroat. And the investorsā only aim is to get returns for their investment.
Landing venture capital in the first place is no easy task. You should exhibit a good business plan already in the works, backed by an excellent team. You must prove your worth to invoke their interest.
Funding From Incubators And Accelerators
Incubators and accelerators are platforms that help startups to kick-off. Incubator programs are available in almost all major cities. Startup incubator provide much-needed guidance, network, and contacts. Even office space, if necessary. Simply put, they take you under their wing until you develop your own. They are run like a camp and take from anywhere close to four to eight months. Patience is key.
Accelerators on the other hand jumpstart your vehicle. The difference between incubators and accelerators is the time frame. The former is a drawn-out process, while the latter can comparatively take a very short time. AngelPrime, Seedfarm, Khosla labs are few examples of incubators.
There are numerous contests with large amounts of reward money for the explicit purpose of helping the startup culture flourish. These contests typically require a presentation of your business plan or a working prototype and that depends on the competition. These contests provide a platform for you to convince the audience of your idea. Since they also involve a certain amount of prize money and fame, they are great motivators to make you want to do your best. Microsoft BizSparks, Letās Ignite and NextBigIdea are a few of the popular contests conducted.
Conclusion
Funding is for sure a painstaking task, that you have to achieve no matter what because your startup relies on it. No pressure. If your idea is good and you have the brains or you have hired the brains to make it work, somebody will surely be ready to invest in it. Research and prepare well before you start the process, and donāt expect immediate results. Every rejection is a lesson on what not to do for the next time. Best of Luck!
FAQs
How do you fund startups?
You can use the following ways to fund your startup:
Bootstrapping a.k.a Self Funding Loans From The Bank Government Programs Crowdfunding Angel Investment Venture Capital Funding From Incubators And Accelerators Winning Contests
What is the easiest business to start?
The easiest business to start any kind of business where you sell services. In other words, you sell your skill, labor or expertise ā instead of products or goods.
Electronic mails have transcended from being a mere medium of communication to an official platform where vital decisions are made in a short span of time. It has become an Ā unavoidable conduit in the internet era and became especially relevant in the current times when Ā most of the official businesses are done online.
The importance of drafting an excellent email is now Ā more than ever. Letās look at a few mistakes that we generally make while writing an Email and see the Ā probable solution.
The subject is one of the most important and yet the most overlooked element of an e-mail. People tend to write long, vague subject lines. An absent subject line is a big no and is considered off-limits as per the email writing etiquette.
A proper, indicative subject line should convey the content of your e-mail in three or four words. This will not only increase the chances of your mail being read but also helps the reader to have a better understanding of the content. Unchanged subject line
While writing an email, it is important to change the subject line every time you start a new discussion. As mentioned earlier, this will make the reader more aware, and on top of that, it will be easier to locate the mail in future. Many people make this mistake of tailing over the same thread every time they send an e-mail. It should be avoided by paying attention to the details before sending Ā them.
Salutation
Long gone are days when you have to address each other with a āRespected Sir/Madamā. Working space has become more congenial and friendly; all forms of communications should Ā reflect that. While it is acceptable to begin with, āDear Sir/Madamā, you can use their name or simply āSir/Madamā.
It is highly recommended to be gender-neutral when you are not sure who will read your mail. In such cases, beginning by addressing the designation will be safer and acceptable. You can begin by saying āDear Editor/CEOā. While you try to retract from being formal, do not be too informal.
Not Explaining attachments
Most of the e-mails will contain at least one attachment, and we tend to limit ourselves by making a statement that a document has been attached. This is a mistake that will leave the reader Ā confused and waste their time. Instead, make it a point to mention what is it in the attachments. Again, this should be kept crisp and should not be long.
Improper/absent closing lines and signing off
Our overconfidence in the typing speed of our names or getting carried away with the content of the e-mail can be detrimental. An incorrect, inappropriate or absent closing statement can Ā give a very bad impression to the reader.
It can make the whole point that you were trying to go vain. Before you sign off, it is important to reiterate the request or content you have put forth. And never forget to write your name while signing off.
Language is a very powerful tool, and we should never underestimate it. E-mails are generally meant for and not limited to formal communications like requests and confirmations. However, people tend to be more informal to look more friendly and cool.
One should completely avoid using any informal language. This includes short forms, emojis, and abbreviations like canāt, shouldnāt etc. Make sure to be formal when it comes to addressing the person as well as the content. Today, being formal is more about striking a perfect balance between being formal and informal. Ā
Tone
The tone of the mail means the way in which the receiver reads the mail. Getting the wrong tone is one mistake that people tend to make while concentrating on being formal. The right Ā choice of words can control this.
It should be ensured that while being formal, the tone does not get Ā authoritative or aggressive. Be careful to include words that make your content sound confident and polite.
Structure
Many people write long emails that narrate their whole background, context and whatnot. Writing long emails are both ineffective and unattractive. Mails should be used as a way to put across your requirements in a crisp and concise manner.
The reader should be able to understand the core of your mail in the first read itself. Ideally, the structure should flow as self-introduction, content and conclusion. Make it a point to conclude the mail in less than 200 words. Spelling and grammatical mistake
There can be nothing as bad as making a silly yet evident mistake in your grammar or spelling in any mail. This happens when your thought processes and typing speed does not align.
It is advisable to use software like Grammarly or any other inbuilt or external aids while you type the Ā mail. Make it a point to not blindly follow them. Giving it to someone for proofreading is also helpful when the mail is not an emergency.
Summing up the whole mail, we tend to ignore an important step – overview. Before you hit the send button, ensure that all details are presented correctly, and the mail is being sent to the right person.
All the steps mentioned above have to be cross-checked at least once before confirming on sending it. An Email is too important to be messed up at the last moment. And never reply to all recipients in the group if the message is meant for only one.
Conclusion
There is no doubt in the fact that the significance of mails are increasing day by day. It is a very effective way to put yourself as a person. When you can portray yourselves in the best way Ā possible through an email, make sure you put your best foot forward.
FAQ
What are common email blunders you don’t want to make?
Choosing a vague subject line, Adding the wrong people in cc and Forgetting to proofread are some of the common email blunders you should avoid.
What are some email etiquette rules?
Watch your grammar, spelling and punctuation, Choose your subject wisely and Reply to emails promptly these are some email etiquettes you should consider while writing an email.
What are the most common errors while writing an email?
Not Writing Proper Subject Lines, Using the Wrong Tone of Voice and Using Abbreviations and Emojis are some of the most common mistakes people make while writing an email.
Influencer marketing is the type of promotion that relies on using key pioneers and personalities to drive your message to the bigger market. As opposed to promoting to an enormous gathering of shoppers directly, you rather procure or pay influencers to get the word out for you. Influencer promoting regularly goes connected at the hip with two different types of showcasing: web-based life advertising and substance showcasing. Most Influencer battles have a type of internet-based life segment, whereby influencers are relied upon to get the message out through their social channels.
Numerous influencer battles require a substance component wherein you may make content for the influencers, or they make the substance themselves. Even though web-based life and substance advertising regularly fit inside influencer crusades, they are not synonymous with influencer promotion.
The impact on the economy has changed how we purchase things. About 67% of advertisers report that they are occupied with some type of influencer marketing, a number that is probably going to grow as web-based social networking influencers acquire standard presentation. The influencer economy is moving towards increasingly streamlined arrangements, grasping instruments like influencer systems, coordinating stages benefits, and automated processes to assist brands with tapping influencers more effectively.
Brands who aren’t a piece of this economy are losing control. Customers currently control the purchaser’s adventure, and they are becoming more enthusiastic with the advancement of computerized promoting. Here are some drawbacks of computerized
40% of advertisement income lost to promotion obstruct by destinations that target recent college grads ā President of IAB.
$7.2 Billion evaluated worldwide misfortunes to bot extortion in 2019.
56% of paid, for advanced promotion impressions are never observed.
62% of customers trust marks less.
A colossal 66% of clients are overpowered by such a large number of web-based promotion of messages, and 20% of purchasers would blacklist a brand in light of inordinate advertisements. Advertisers should think about influencer content since it gives the ideal fix to “promotion weakness” and unlike conventional advertisement crusades, doesn’t convey genuineness.
Brilliant brands are battling this by utilizing influencer marketing in India to make a continuous discussion with shoppers, perceiving that they are impacted by various individuals at various times in different ways. Rather than unavoidable losses from advanced promoting, brand social and substance showcasing, the influencer marketing in India goes past reach and snaps to consistent commitment and discussions that drive trade. This gives you measurements that issue and line up with your business objectives, some of which are:
Pulling in new clients.
Expanding rehash buys.
Driving client dependability.
Augmenting client lifetime income.
The Influence of influencer
Shoppers need genuine voices, not anonymous deals administrators who utilize a similar old stunt. Advertisers can’t overlook influencer marketing in India anymore since content makers can drive business development and convey credibility that draws in with crowds. Envision a large number of voices having valid discussions about your image that hold influence in a manner your voice alone never could. That is the intensity of influencer marketing. The scope of influencer marketing in India is very high as consumers in the country are easy to mould and influence.
How Does Influencer Marketing Work?
If youāre a marketer and feeling the pressure of delivering more revenue while having less control over messaging, youāre not alone. The landscape of marketing has changed significantly and consumers determine the messaging they want to see. Brands no longer have center stage, consumers do. If you want to be a part of consumer conversations, you have to play by their rules. Social media is where consumers are having conversations today, and one of the most impactful products to emerge is that of influencer marketing in India. So how does influencer marketing work?
At a high level, it is a form of branded engagement where marketers connect with those who boast prominent social footprints. The goal is to plug into new communities and connect the brand/product to new audiences through the voice and trusted relationships of the said influencer.
How Does Influence Marketing Work?
Authentic content creates trust. People gravitate toward digital influencers because they value the content that they create. Developing strategic relationships with these influencers allows brands to incorporate their messaging into that content and share it with consumers through a trusted source. To make the most of this opportunity, brands must allow influencers the ability to stay true to themselves when working on sponsored content.
Insincere or irrelevant content will rapidly erode an influencerās power by reducing their followersā trust in them. If brands want to be relevant to consumers, they must think of media as a way to attract, engage, and convert prospects. That means meeting consumers with content they care about and trust. Working with influencers is an effective way to fuel a conversation about a brand using trustworthy content.
Influencer Marketing Growth
Since influencer marketing results in engagement, it also results in earned media. Influencers are experts at generating discussions online, and the content they create on behalf of a brand is talked about, shared, and reposted. That is earned media. Earned media is trusted more by consumers. When influencers write about their own experiences and share compelling content about a brand, it can have a dramatic effect on their audience.
Online activity is a core part of the decision making process. In todayās digital world, people can access information about products long before they reach a brand site. They turn to their peers online for recommendations about products, they look for information through search engines, and they read product reviews. Therefore, it makes sense for brands to partner with social media influencers. They can share product and brand information that shapes purchase decisions.
Social media has changed the way brands interact with consumers by fostering an environment where consumers have immediate access to information. Through social media, people gather input about brands and products and then make purchase decisions based on what they discover. Successful brands leverage social media to stay connected with consumers by actively participating in this online dialogue. However, advertising is not the same as being part of the conversation.
Growth of Influencers
How To Start An Influencer Business?
Like any advertising strategy, an influencer program requires focus and arrangement. You won’t discover vital achievement just by sending free things out to everybody who asks or to your current companions and associates. So, here are some steps to start an influencer business,
Discover Influencers And Decide What To Pay Them
Much like any system, exploring is the initial step. Pick the system you need to concentrate on first. You can generally extend to different systems later; in case you’re starting out, stay with one. In a perfect world, your image should as of now have a nearness on this system and knowledge of it. Socioeconomics fluctuates on each system.
The business you’re in matters when you want to actualize an influencer showcasing procedure. Magnificence and style brands sparkle on Instagram and YouTube. The computer game industry overwhelms on Twitch. During your examination stage, investigate the kind of influencers you’re keen on. Are you going for big names with monstrous followings? Or micro-influencers with under 2000 supporters? Maybe something in the middle of in the 5ā10k range is more your inclination. Whatever you choose to concentrate on will decide your spending limit.
Pay shifts fiercely, so do see the regular rates for those influencer types. Micro-influencers will, in general, be centered around a couple of themes and acknowledge items. Some micro-influencers work freely while others might be spoken to by an organization or system. Bigger records and big names will require payment and may even experience an ability organization.
One approach may be to contrast your desires for influencers with different firms, and measure the spending limit for a video generation association’s work in making promotion for you versus an influencer making a video. It might appear at first as if passing judgment on the estimation of influencers is erratic; however, this sort of approach will give you a commonplace purpose of examination and complexity.
How To Do Influencer Marketing In India
In 2019, Influence.co distributed the results of its examination into Instagram influencer installment. It evaluated the normal expense per Instagram post and found:
The general normal cost was $271 per post.
The normal cost for miniaturized scale influencers with less than 1,000 supporters was $83 per post.
The normal cost for influencers with more than 100,000 supporters was $763 per post.
Research is critical and you’ll wind up coming back to this progression frequently all the while.
Management And Budget Allocation
You now have some idea on what to pay influencers and decide your spending limit. Factor in time for arranging, executing, and surveying your technique. Running a fruitful influencer advertising effort is anything but a set-it-and-go kind of technique. It’ll include cautious checking and development.
In contrast to an increasingly robotized advertisement procedure, influencers are human and some may fall behind in their duties to post on schedule or make blunders in your mentioned labels or invitations. You’ll have the opportunity to be more active with these connections and refine your methodology by gaining experience about what works and what doesn’t in your specialty.
On the off-chance that you have the opportunity and cash, consider setting up a conventional envoy program. Fujifilm uses its envoys in new item dispatches. With an assortment of picture takers and videographers available, the organization is ready to broaden its feed to feature what Fujifilm gear can do.
Consider setting up a proper diplomat program. For brands that need a more extensive pool of influencers, employing an influencer advertising office who will do the examination and coordination is a decent plan.
Settle On Objectives And Message
The two most regular purposes behind utilizing influencer advertising are to raise brand mindfulness and increment deals. Rather than setting this wide focus as your two objectives, it will be better to commence your technique by focusing on what your image’s needs are. Maybe you need to build your client base in a more youthful demographic. Or, you need to venture into another client bunch with another item. You may need to skip drifts and use influencers to discuss your image esteems.
Your message is similarly as significant as your objective. While you would prefer not to smother an influencer’s inventiveness and uniqueness, you don’t need them to present something random on your crusade. Decide how you need to structure your influencer advertising efforts and message so you can adhere to it later on.
Survey And Change Your Procedure
Regardless of whether your influencer showcasing effort is continuous, you should have pre-decided dates on which you’ll gauge the procedure. The link below will help you in understanding how to follow your outcomes. Not all battles are effective but rather ideally, you’ll learn something new with each one you become a part of.
The best influencer marketing platforms in India are:
1. Plixxo
Plixxo is one of the greatest influencer promoting stages in India with more than 26,000 influencers. Propelled by POPxo organizer Priyanka Gill, it takes into account both influencers and brands. Bloggers, YouTubers, big names, Instagram influencers, and grounds influencers can join this stage. Brands can likewise welcome a huge number of influencers through Plixxo for going along with them in their promotion efforts. To put it plainly, Plixxo helps in streamlining influencer battles for brands.
Plixxo Influencer Platform
For influencers, Plixxo is a stage that checks their profiles, reach, and details. It demonstrates whether they are bonafide influencers. Plixxo is a successful business age instrument that enables them to get paid brand battles. Likewise, it additionally empowers influencers to help their crowd through online networking posts. For brands, Plixxo makes looking for influencers simple. It enables them to dispatch battles involving a thousand influencers and makes running influencer crusades simple and bother free.
2. Influencer.in
Bragging a base of more than 25,000 online networking bloggers and influencers, Influencer.in allows you to locate the privilege influencer for your image. Through ‘Influencer Discovery,’ you can get an vantage view of an influencer and decode if he or she is the correct counterpart for your image. The customers who keep Influencer.in going incorporate Hike, Himalaya, Axis Bank, Nykaa, and SHAREit.
3. Mad Influence
With 10,000+ influencers crosswise over India, Mad Influence is one of the main and the best influencer marketing platform in India. Its key target is to bring gifts, content makers, influencers, and brands together and achieve astounding outcomes together. Its classifications are extremely huge and spread across domainsāfrom Automobiles to Education, and Health to Religion. Mad Influence has served more than 50 brands till date. The stages that Mad Influence takes a shot at include Facebook, Twitter, Instagram, TikTok, and YouTube.
Mad Influence
Key administrations incorporate Brand Activation, Event Promotions and Integrations, Social Media Campaigns, Content Curation, and Product Reviews. Top brands served by it incorporate Dharma Productions, TikTok, T Series, Hotstar, ALTBalaji, Sony Music, HCL and others.
4. PulpKey
PulpKey is an Indian influencer showcasing stage where brands and makers work together to recount stories. You may either login as a brand/agency, or as a creator/talent manager. To sign in as a creator or a talent manager, you either need to have at any rate 2,000 supporters on Instagram, or at least 500 endorsers on YouTube.
PulpKey additionally needs to address and take care of issues relating to the advancements completed by influencers and the absence of trust among purchasers and brands. Their not-too-bad program of eminent customers incorporates Wego, HelloDhobi, Hypstar, Bombay Shaving Company, Happn, and some more.
5. Winkl
Bengaluru-based Winkl helps bloggers, influencers, and substance makers in making their very own media units for displaying their work to companions, get inputs, and interface with brands to chip away at joint efforts.
Winkl Influencer Platform
It expects to turn into the most sought-after influencer showcasing stage in India and become the favored advertising channel for brands, a medium to assist them with collaborating with influencers for accomplishing business results. Top customers incorporate Flipkart and YGL.
6. Eleve Media
Eleve Media helps in ideating brand battle methodologies and sponsorship them with compelling promotion arrangements to convey top-notch commitment for the brand. It plays out various capacities like distinguishing the perfect individuals as indicated by area, specialty, reach, and different measurements. It likewise empowers the brand in utilizing content crosswise over stages, scaling impact, powerful estimation and examination of battles, and giving counseling administrations too.
Brands who trust Eleve Media incorporate goliaths like Amazon, Coca Cola, Chevrolet, Lays, Honda, Bacardi, Airtel, Philips among 25+ other top brands.
7. StarNgage
StarNgage is a worldwide influencer showcasing stage with nearness in India. It also assists in examining, altering, overseeing, and estimating the informal advertising efforts on Instagram. Through StarNgage, brands can accomplice Instagram influencers for pulling in and drawing in clients by conveying important, accommodating, and customized visual encounters. StarNgage also tracks, dissects, and benchmarks a huge number of Instagram profiles which guarantees the accomplishment of Instagram crusades.
8. Blogmint
Blogmint is said to be Asia’s first item based influencer showcasing stage and one of the first influencer advertising stages (in quite a while) which associates brands with social influencers ā Bloggers, YouTubers, Twitteratis and Instagramers. Outstandingly, this stage helps in recognizing and connecting with influencers to make amazing social and video content. With more than 29,000 influencers and 900 brands/organizations, Blogmint is amongst the favored commercial centers for influencer advertising.
By 2020, worldwide influencer advertising is estimated to be a $20 billion industry. Of this, India represents a juvenile piece, somewhere in the range of $75 and $150 million.
As it were, it is a current rendition of customary superstar underwriting. Brands team up with “influencers” who have a reliable background and could influence their devotees by connecting promotions to the brands’ offerings.
Most brands in India have distributed between Rs1 lakh and Rs10 lakh ($1,409-14,091) each as their influencer promoting spending plans this year as per an ongoing study. The sizeable binge spend is simply going up, with 72% of Indian firms intending to expand their spending via web-based networking media influencers, of all shapes and sizes, in 2020, the report said.
Brands have chosen influencers based on their fan following. In any case, this has changed as of late, especially since devotees can now be purchased. A study has discovered that Indian influencers on Instagram have 16 million counterfeit devotees.
Also, greater the superstar, more the expense. Priyanka Chopra and national cricket crew captain Virat Kohli, with 45 million and 42 million adherents on Instagram, individually charge well above Rs. 1 crore per post. In the interim, influencers with more than 500,000 supporters energize to Rs. 7 lakh per post, and nano and small scale influencers, who have under 5,000 and 30,000 devotees individually, charge Rs. 8,000 and Rs. 18,000 per post.
Obviously, with incredible power comes extraordinary duty. Since influencers with eager fan-bases can influence enormous crowds, the Advertising Standards Council of India (ASCI) is keeping a nearby watch. The advertisement controller is taking a shot at rules for web-based social networking influencers, individuals who advance items on the web to help clients settle on educated choices concerning their online buys.
Influencer Marketing – FAQs
What is the Importance Of Influencer Marketing In India?
The impact on the economy has changed how we purchase things. About 67% of advertisers report that they are occupied with some type of influencer marketing, a number that is probably going to grow as web-based social networking influencers acquire standard presentation.
How much do influencers charge per post in India?
Well, that depends upon the no. of followers influencers have. Like, Influencers having over 500,000 followers, the rate per post can vary between 1.5 Lac to 7 Lac.
What are influencer marketing platforms?
An Influencer Marketing Platform is a software solution designed to assist brands with their Influencer Marketing Campaigns. Influencer Marketing Platforms provide influencer discovery tools for brands and agencies, some also offer massive searchable databases of potential influencers, using clever algorithms.
What is Instagram influencer marketing?
Influencer marketing takes the idea of celebrity endorsement and places it into a modern-day content-driven marketing campaign.
Which platforms do influencers use?
Influencers use a variety of influencer marketing platforms to get discovered by brands and to track their progress too. They also use social media scheduling platforms to regularly publish their content on social media. Among social media platforms, Instagram is the most popular platform for influencer marketing.
How to build an influencer marketing platform?
Here’s how you can build an influencer marketing platform in 5 simple steps:
Plan the platform features
Develop the platform and select the target social networks
Start accepting influencer applications
Grow your influencer database
Collect valuable data on engagement, audience, etc
The situation in India is becoming worse day by day. The cases have been increasing and the NGOs, fundraising organizations, the frontline workers and the Government have been working continuously against the spread of the virus and containment of it.
Wearing a mask and maintaining social distance are not the only things that matter in these hard times. A lot of people are facing many difficulties and here are some simple but effective steps you can follow in order to help your community to fight during this unprecedented time.
If you have certain skills, you can use them to educate the people about the ongoing situation and support the community. Letās say if you are a content creator or a social media influencer you can create content about awareness or something related to the ongoing situation in the country.
A graphic designer can design posters about the precautions to be taken, coming up with some informative posts or you can even create posts for some NGOs or Fundraising organizations and help them serve the community.
Educating your community
If you are a fitness enthusiast or a nutritional coach or even a social media influencer then you can share tips with your community on how to take necessary precautions, providing different techniques to stay safe, different breathing exercises to help increase oxygen levels.
If you donāt have a community to share you can build your own community in these hard times and help people stay fit and active. Make them practice yoga or make them active through certain physical activities. You can educate them about the importance of nutrition and how it helps them during these times.
Community help
Sharing positivity
Since most of the news or information which is consumed by people is negative, you can try sharing something positive. If you are a musician you can create new covers which people would enjoy or organize certain virtual jams which would keep the people entertained.
If you are a social media influencer or a motivational speaker you can share positive thoughts and keep your community motivated.
You can check in with your family members, friends your neighbours or your known people. Call them up to check on their status just to ensure that they are fine. Speak to them for some time and always try your best to help them in case they require your help.
Check in with your Family
If you are unable to help try finding someone who can help them in that case. Always support each other and being there for each other is very important during this hard time.
Social Media post
Always cross check what you share on your social media account. Ensure that you donāt share any fake news, double check to find the facts and always post factual news only after you are convinced and find it legitimate.
Try not to share any hateful posts or any triggering posts on your social media profiles. Try staying away from all the negative posts and information. Support a budding creator or a business that is trying to help people during these times and finding solutions for their problems. You can share memes or some funny videos on your social media platform.
You can share useful stories or posts on your social media account. For example, posts such as Covid helpline number of your locality or if there are any NGOs providing meals for the affected family or oxygen cylinders as your post may be helpful for some family which we would never know.
Share useful stories on social media
Always try supporting NGOs and fundraising organizations and a small help from your side can contribute a lot to the organizations and certain families. You can even share details about the Plasma donations or any help which would help the members in the community who are going through a difficult time.
Staying home is the most important and the best way you can help the community. It would cut down the spreading of the virus and ensure that you go outside only if it very necessary. Every time you go out take the necessary precautions such as using double masking or using an N95 mask, sanitize and maintain social distance.
FAQ
How can I help my community?
Get involved as a volunteer, Support local businesses, Tidy up, Help your neighbours, and Donate things. These are few ways to help your community.
Why is helping the community important?
It will enrich your life, familiarize you with your community, and connect you to people and ideas that will positively impact your perspective for the rest of your life.
How can I protect myself and others from getting COVID-19?
Avoid close contact with people who are sick, Wash your hands often with soap and water for at least 20 seconds, Use an alcohol-based hand sanitizer that contains at least 60% alcohol, Cover your cough or sneeze with a tissue, then throw the tissue in the trash, Maintain at least 1 meter (3 feet) distance between yourself and other people, and Wear cloth face coverings in public settings.
Conclusion
Take all the precautions so that you and the members of your family would remain safe and secure. Do your part of the help in order to support the community and together we can break the chain and cut down the rise of the cases in the country.
Having business ideas stolen is the worst nightmare of any businessperson. The fear of someone stealing your idea always remain in mind. That gives rise to the tendency of hiding ideas from everyone. That can, in many ways, turn out to be harmful to your business.
But hereās what you need to know: Ideas donāt get stolen all that often. Itās a rare occurrence.
And the reason? business startup Ideas by themselves have no value. Only putting ideas into action can be converted into something of value.
Anyone who is serious about starting a business will not likely start it based on a stolen idea. And that person would also neither have your vision nor your passion. So, Hiding business idea – Yay or Nay? If youāre still not convinced that nobody will steal your idea, keep reading on.
Letās Dissect Who Would Actually Steal Your Idea
Family/ Friends
Your family and friends would be the last people on earth to steal your idea. If anything, they are your sources of motivation and inspiration. You also need them to provide feedback for your ideas. Who better to give you advice. Even though it be might just a teeny-tiny bit biased.
If your friends’ circle is anything like the one in the actual āF.R.I.E.N.D.Sā, great. Theyāll stick by you through thick and thin, and celebrate your successes and support you doing your failure. And good friends most definitely do not steal your ideas. Who knows, you might have a friend who shares your enthusiasm and becomes your co-founder/business spouse.
People Online
It is good practice to do an online survey with your extended circle- i.e, your contacts through LinkedIn, Facebook, and Instagram. All of them are from such varied fields that they will lend you a new and sometimes surprising perspective. If you have a professional network, that makes it likely for someone with the expertise to validate your idea.
You might ask, wonāt the person with expertise steal my idea if he/she thinks it is good? The chances are, they are already working with some company. They might even be an investor, in which case, its good news for you! Again, you might find your future co-founder or your brilliant team from the online space.
You might not believe the number of people just waiting for a chance to try something new but neither having the courage nor the resources to do so. This might be their opening.
When I say corporations, do not imagine visions of skyscrapers and business suits who will throw money at you for your idea. They donāt, they directly steal it.
Okay, Iām kidding! Canāt I expect a sense of humor from my readers?
Corporations seldom incorporate a new idea until they can see that it has the potential to generate revenue that can match theirs. A small scale enterpriseās profits are nothing but a dent in the car that is the corporationās profits. They are the ones who will acquire you after you are really successful and will merge your company with theirs. You neednāt worry about them.
So, by this I think I have answer the most unanswered question by this which is how to pitch an idea to a company without it being stolen?
Startups
They are too busy working on their own ideas and dreams to actually spare the time to steal yours. Ouch. I hope that didnāt dent your confidence too much.
The end goal of any startup is to no longer be a startup. And that requires dedication and hard work. Even if they do get to know your idea and have the capability to implement it, they donāt have your passion. And that means they wonāt put in the effort necessary to make YOUR dream come true.
Even if they are in the same domain as the one you are trying to make a mark in, their line of thinking would lean toward collaboration rather than stealing. Nobody wants to owe their success to someone else.
Hopefully, you are convinced enough that you are no longer paranoid about someone stealing your idea.
You might get ideas that modify or tweak your idea into a better product from the general public. Business aspirants are always on the lookout for learning how to convert ideas for business or into businesses so they might offer suggestions. And if you do take them into account, they might expect credit which is the least you could do.
Ideas
Validation
Proof that youāre on the right track. And that is what you need to persevere with the idea. Of course, the best kind of motivation comes from within but outside motivation from unexpected places is good too. That will give you the push you need during the times you feel like giving up.
Validation
Co-Founder
As I have mentioned before, thereās no list of places to find your co-founder. They can be anywhere. Keep your eye out for them, and if they seem to be as interested and passionate about your idea as you are, consider yourself business-married! I do recommend a background check before you hire someone for such an important position though. Call up references and verify his/her work experiences before hiring them.
Co-Founder
Team
You can also advertise. Describe the skills that you require for the job, and people will reach out to you. Of course, you need to be able to pay them a substantial salary, unless they are willing to do the work-first, reward-later scheme. You can always search for people without having to discuss your idea online, but if your idea is interesting, chances are people with the skill set will be attracted to you (in a business sense, jeez!)
Customers
This is the company that put out a quick video of how their product works while they were working on it. That garnered them a huge customer base who encouraged them to work on and release the project as soon as possible. Tech geeks went crazy over it.
A quick demonstration, something like a forty-five to ninety-second video of how your product works can do wonders in terms of attracting customers even before the launch of the product. And you can trust word-of-mouth to do its rounds.
Customer Feedback
This is valuable. You must have seen reviews of products where the customers comment along the lines of āI wish it could do this as wellā, or āadding this feature can make it more efficientā etc. Take advantage of this. If possible put up your prototype for sale and invite reviews. This will help you modify your product according to your customerās needs.
Customer Feedback
Collaboration Offers
It is probably a little too early to discuss collaboration but hey, it is never too early to plan right? Collaborations are a way for companies with complementing strengths to take advantage of each other. A company with an excellent product but lacking a wide customer base can partner with a company having the same. Sharing your idea keeps the options open.
Investors
This is the sweetest advantage of all. Investors are interested in your idea. Though funds can come from different sources- your own pockets, crowdfunding, bank loans, etc., professional investors taking an interest is a sign that your startup has real potential.
Despite all of the above reasoning, if you are still worried, head over to the article on āHow to protect your ideas from being stolenā. It is of course good to exercise precaution when it comes to your baby (startup) so I have highlighted a few ways to do the same. Happy idea protecting folks!
Google is among the top American multinational companies that specialises in Internet-related services and products such as a search engine, online advertising technologies, cloud computing etc. Over the years Google has become an irreplaceable part of millions of people, students, companies, businesses across the globe. The fact that Google has gained such wide popularity is evident from the fact that the word ‘Google’ had been officially listed by the Oxford English Dictionary as a verb in the English language.
Google is so much more than a search engine. It provides various services as it is an email client, Gmail, a social video sharing site, YouTube, a mobile operating system, Android, an official suite, Google Drive, hardware and software sponsorships and much more. Founded in 1988, Google is recognised as one of the world’s largest technology companies along with Apple, Amazon and Facebook.
Google earns over $110 Billion a year on advertising
The company sell advertising space on search results pages to companies to provide its customers. Google also collects information about our search history and then delivers Personalised advertisement experience for websites.
Company’s market value is estimated at $858 Billion
Google has now become the fourth tech company after Apple, Amazon and Microsoft to be valued over $1 trillion this year. In 2015, Google was valued less than $400 billion.
Google’s Parent Company, Alphabet is the fourth largest company in the world
Google is the subsidiary of conglomerate Alphabet which profits about $30 billion a year. Alphabet is one of the largest companies in the world in terms of market value, revenue and profit as it has the combination of both Google and YouTube. Alphabet was formed to serve as a holding company for other endeavors. Alphabet now owns over 200 companies.
Search Statistics
Google is the most visited website across the world. Five billion searches are made everyday through Google search engine. 7.2 percent of the traffic comes from people who Google the term ‘Google’.
Google dominates the search engine market. In fact, as of July 2019, Google holds 92.18 percent of the market share. Other few search engines are Bing, Yahoo, Baidu and DuckDuckGo. Since the introduction of Google search in 1997, all the other search engines have faced quite a hard time trying to reach the same level as Google.
An average person performs more than 4-5 Google searches per day as the Google has become the go-to place for information on the internet. The most common searches being weather update and location. Though, 15 percent of all searches are unique. 63% of Google’s US searches are referred through mobile phones.
Google was processing over 10,000 search queries per day in 1998. In comparison, by the end of 2006, the same amount of searches would be processed by Google in a single second. So, in less than a decade, Google became a quite reliable source of getting access to information and searches around the world.
Google images account to more than 20% of all searches.
Gmail Statistics
Ā· Gmail currently owns 43% of the email service market share in 2020.
Ā· An average Gmail account is worth around $3,588.85.
Ā· 75% of all Gmail users access their email on mobile devices.
Ā· 306.4 billion emails are sent and received daily in 2020.
Ā· There are more than 1.5 billion active Gmail users.
Ā· Gmail G Suite has 2 billion monthly active users worldwide.
Ā· Google shut down the āInbox by Gmailā app on April 2, 2019.
Ā· Gmail users found that 68.4% of all incoming messages are classified as Promotions.
Ā· Gmail AI blocks more than 100 million spam emails every day.
Ā· Google Chrome reached 5 billion downloads in 2019.
Ā· Chrome has 64.92% of the global browser market across all platforms.
Ā· Chrome has 68.91% of the desktop browser market share.
Ā· Google Chrome dominates Europe with a 61.36% share of the local browser market.
Ā· Chrome protects about 200 million from malicious websites.
Ā· From 2008 to 2019, Google Chrome went from 0% to almost 70% market share, while Internet Explorer went from over 60% to below 3%.
Ā· Google received 63,000 searches per second, amounting to more than 2 trillion searches throughout the year in 2016.
Google has a great history with the internet as it changed its name from ‘Backrub’ to Google, it has become one of the most valued and recognisable companies in the world. Thus, with such impressive statistics, Google continues to be the dominant player in search, maps, email, browsing, mobile operating systems and much more.
Google is among the top American multinational companies that specialise in Internet-related services and products such as a search engine, online advertising technologies, cloud computing etc.
What was Google’s first product?
The first version of Google was released in August 1996 on the Stanford website. It used nearly half of Stanford’s entire network bandwidth.
Who is the founder of google?
Larry Page and Sergey Brin are the founders of Google.
What are some fun facts about Google?
Some facts about google:-
An average Gmail account is worth around $3,588.85
75% of all Gmail users access their email on mobile devices
306.4 billion emails are sent and received daily in 2020
There are more than 1.5 billion active Gmail users
In this era, people have a great influence on others as they idealize social media more than the real world. These people are popularly known as social media influencers. Often the so-called influencers have created a good fan base that is loyal and high on trust, while there are people who have just started to set the trend. They are known as Nano influencers. To know more about who they are and why brands are targeting Nano Influencers more as a part of influencer marketing.
Today, social media plays such an important part of all our lives, be it from a point of view of leisure activity or be it a business, almost all the millennial’s and adults today are using many social media platforms. These platforms have the ability to impact the lives of many. These people brand themselves on platforms as Facebook influencers, Snapchat influencers, and Instagram influencers.
Nano-influencers are usually Instagram users who have a minimum of 1000 followers or more. Typically the range of followers that Nano Influencers have is from 1000 to 5000 followers. These are the people who arenāt very glamorous or shiny but do have the strength to influence their local neighborhood or the community to which they belong. Nano Influencers are regarded as āregular everyday peopleā who help a brand to promote their products and services by influencing their friends, family, and people around them.
Nano Influencers are also becoming more prominent because they post about very specific categories targeting the audience that is hyper-invested in such topics. More importantly, audiences seek out Nano influencers because their expertise in niche topics is unique and might not be found anywhere else. Nano Influencers are also very famous in categories like food, fashion, travel, and beauty.
Why do people work with Nano Influencers?
Brands Choosing Nano Influencer
There are various reasons for why brands want to work with Nano influencersā in spite of small follower base and less fame.
A few reasons are:
Nano Influencers are Authentic. They are normal and they act normal, unlike many other macro-influencers. This helps them to gather audiences’ trust and makes them more relatable and approachable.
They tend to have high engagement rates and have a deeper sense of engagement with the audience.
Nano influencers believe in personal endorsement and their word of mouth recommendation helps the brands to get value.
Nano Influencers tend to provide an excellent return on investment. Brands choose to collaborate with Nano influencers because they do not have the fear of risking a high amount of money.
Nano Influencers are easy to work with people as they are much more agreeable to the terms decided by the brands. They do not demand much from the brands and work with utmost efficiency almost at all times.
In the year 2019, the Hype Auditor stated that the engagement rate of Nano Influencers has been twice as high as that of the other group of influencers. Nano influencers have become more approachable since they havenāt reached celebrity status. This helps their collaborators reach the right masses with excellent engagement rates. It is a fact that when the engagement rate is high the ability to reach the masses is increased and automatically the cost invested by the investor reduces per impression and engagement.
Closer relationship with the audience
It is often said that the connections made by Nano-influencers with the masses are very strong. Due to their personalized dialogue and one on one communication with the audience, they tend to be more intimidating and engaging. When the masses comment on their post, Nano Influencers often reply to almost all the relevant ones, understand them well, and make good relationships with them.
Since, Nano Influencers just start their paths to become famous, they tend to be more enthusiastic and loyal towards their followers and hence they love to interact with them. As a result, this helps them to gain higher trust and engagement from the audience. When a brand collaborates with them for an exchange of minor payment or a freebie, they happily agree to join hands and deliver the rightful content.
Trust of the audience
Trust of Audience
Nano Influencers are creators who are very careful about choosing a product or service that they want to advertise and the reason behind this so that they do not want to disappoint the handful audience that they have with them. Since they are friends with most of their followers, they tend to choose their adverts wisely. Also, this gives the brand a surety that the audience will trust Nano Influencers as they arenāt jammed with content line the macro-influencers. And the audience trusts nano influencers that they will the genuine and right advice to them.
Can give a competitive edge
Even today in India, people do not trust influencers that have a small audience. For a brand that trusts Nano influencers, this could be an edge over the competition. In today’s market Nano influencers are becoming more and more prominent because they come with loyalty and guaranteed results. Whereas many macro level influencers charge a high amount of money and give no results.
More relevant influencers
Nano influencers work for very specific categories and niches. This is why their content is preferred by their followers. Nano influencers can also help the brands to test and identify what works best in the market. They can help to know the response of the audience by seeing their reactions and engagements.
Cost-friendly option
Many Nano influencers tend to be very cost-friendly and cost-effective. The reason is that they work in exchange for a very nominal fee or in fact, might also work against freebies or gifts. According to a survey conducted by Social Public, less than 45% of Nano influencers prefer monetary compensations. Such researches confirm that Nano influencers are proven to be cost effective and also are beneficial for most brands that collaborate with them today.
More dedication
Nano Influencers are considered to be Instagram lovers in the Indian marketing platform. They are usually passionate about their work and maintain their feed and content as a hobby. With the zeal and spirit of their work, they create fruitful content and produce quality work as compared to large influencers.
Macro Influencers charge heavy price because they have a strong follower base and also carry expertise, where as Nano influencers do not have much experience and expertise in the subject matter. This might be a cause of concern for a lot of brands as many want to work with people who have a high level of expertise.
Limited reach
One of the disadvantages of connecting your brand with Nano influencers is that their reach is very limited. A lot of times their average engagement rate is also just 2% to 3% which proves to be not very beneficial for the brands.
Difficult to measure the performance
Since Nano influencers have low data volume, it becomes hard to measure their performance. Also, many Nano influencers donāt use business accounts and stick to regular accounts. The problem with regular accounts is that they do not provide robust and detailed analytics about the posts and engagements.
Nano-influencers are your everyday social media users, with anywhere from 100 to 10,000 followers.
Are they professional influencers?
They aren’t professional āinfluencersā in any way ā and the majority of their posts feature typical content like photos of their family, friends, cat videos, and memes.
How much do Nano influencers get paid?
Nano-influencers get paid around $5ā$25 per post.
What is smaller than a Nano influencer?
The hierarchy of influencer is as follows-
Mega: 1 million + followers.
Macro: 100,000 ā 1 million followers.
Micro: 10,000 ā 100,000 followers.
Nano: 10,000 followers or less.
To answer the question, Nano influencer comes in the last type of influencers.
Are Nano influencers effective?
A Nano-influencer offers credibility and authenticity. They’ll help you market to the target audiences that matter.
Why Nano-influencers are better?
Nano-influencers are more engaged with their audience. Their smaller following means it’s easier to establish meaningful communication and connection.
Nano-influencers are the new breed of influencers that are emerging recently. They tend to have a smaller number of followers in comparison to micro influencers, less than 10,000 followers. A Nano-influencer is a person who has influence within their community and is more popular locally. This can be someone who has influence in the local neighborhood or community. For example, the person might be a local pastor, local community leader or local government leader. Or a person who is popular in his local community with followers less than 10,000.
In family or in business, every successful relationship involves trust. Trust determines the progress that we make in life. People can lose trust in you as a result of you being negative, self-centered, selfish or even ungrateful. In our daily life, trustworthiness is always evaluated. It increases our credibility. Nowadays every business wants to go digital as it is quicker, more efficient and hassle-free than doing offline business. Doing business online means you are dealing with people you donāt know and have never met before. Therefore, creating a climate of trust with your clients is very crucial to make your online business grow. So, if you are into online business or are planning to foray into the same, here are a few tips that will help you to earn customer trust.
Being straightforward in your business is what will determine its growth. Customers get irritated when they realize you are not transparent with your service or product. For example, they might like the product and in the process they realize later there are some hidden costs in it. Be clear with the terms and conditions, pricing and discounts if any. Credibility is easily lost when you keep fishy deals.
2. Timely response to clientās problems
No one is perfect in this world. And we all know customer relationship is very vital. Products we sell sometimes are faulty even right from the company perspective. Be honest and respond to your clientās problems on time. Sometimes it becomes scary when a customer buys a product and realizes they cannot find you or cannot be assisted in any way.
3. Video charting
Online selling involves dealing with clients around the world. We need to invest in technology where for example videos with customers can be recorded. This will create a platform to attend to customer’s queries and also engage other viewers. In the process of interacting, this could be a way of selling your personality and also such videos with customers will build the credibility of your brand among new and potential customers.
Sometimes we tend to lose focus when we look at the cost of something before doing a cost-benefit analysis. Create dates for questions and answer sessions and let your clients participate. Customers should have an avenue to share with you the pros and cons of your product. This will also help you to improve the quality as per their preference.
5. Remain positive when corrected
We all make mistakes. Sometimes you might publish information that has small mistakes like spelling or others. When customers try to correct you, donāt cover-up. Admit, make necessary changes and move on.
In order to keep trust online, testimonials are one of the key things you should put in place. Ask for consent from customers and include them on the page. Readers will be able to access it. People want to be sure you have worked with other people. Especially B2B companies gain a lot of credibility as a result of this.
7. Business rating
Involve your business in relevant rating groups. This assures customers that your goods meet the minimum standards and are valid and recommendable to use. With business rating, consumers can do marketing for you and get valid feedback. This brings a better understanding of how best you can serve your customers.
StartupTalky User Rating
8. Document a case study
It is very important to carry out an intensive analysis of a product. A case study captures the reality of the product. This will give the clients a picture of how a product helped someone before and how could currently help them. It can also promote ideas and innovation.
Clients would always like to hear if the product they want to use is legally accepted or is insured. Customers also want to know if you are a registered member of any organization/body. This convinces them that your product is right trusted and regulated.
10. Publicity
Without looking at the expense side, you need to get your business to media sources. People highly trust materials publicized. The more people hear about your brand or see your brand, the more they trust in your brand.
Your brand trust relies on what you say to your customers, how you say it, and how you prioritize their needs.
How is brand trust measured?
Brand trust can also be measured by analyzing social media content, by tracking consumer habits, and through internal organizational tracking.
Conclusion
In this online world, we interact with people from various backgrounds and diverse cultures. Hence it is important to remove unnecessary fear and suspicion to earn faith from customers, and the above-listed steps will surely help you in doing so. Know about some other great ways to build customer trust? We will love to hear from you in the comments below!
Alan Joseph
