StartupTalky

Tag: Marketing 📢

  • How to Use Instagram for Business?

    With the advent of social media and the kind of popularity it holds today, it would be extremely beneficial for a business to create a strong social media presence. Instagram falls among the most widely-used websites and applications that help in creating a strong buyer base, especially if the target audience for the business is millennials or Gen Z buyers.

    The Facebook-owned platform, Instagram boasts of having around 1 Billion (2022 reports), active users per month, and 500+ million daily users. While the young adults (between 18-24 years), and the adults (between 25-34 years) are found to be the most active on Instagram, the platform is also used by people below and above the margin.

    Instagram Users and their Age Groups
    Instagram Users and their Age Groups

    Moreover, recent reports state that the brands have seen a 4% of average engagement from their followers on Instagram, which is much more than the followers’ engagement rate on Facebook or Twitter, which happens to be around 0.1%. In fact, brands get 10x more engagement on Instagram from all around the platform than they get on the other social media platforms. In other words, Instagram is better for the visibility of the brands.

    With an Instagram business profile, you can see real-time data on how your stories and promoted posts perform, get insights into how followers are interacting with your content and unlock features only available to businesses that make it easier to get noticed and drive sales. Creating a business profile on Instagram is free and can help you a lot to understand your audience.

    So, let’s talk about how you can use Instagram for your business, and all the aspects that you need to keep in mind for working out your plan that way. It will help you understand the features of Instagram for Business as well.

    How to use Instagram for Business?

    Tools Provided By Instagram To Monitor Outreach
    Benefits Of Using Instagram For Business

    How to use Instagram for Business?

    So, now that we are all aware of how big is Instagram and how important the platform is for businesses, it is obvious that you would also want to leverage the popular social media platform to grow your business. If you are interested, then let’s dive into the primary steps that will help you use Instagram for your business here:

    Create an Instagram Business Account

    If you already have a personal account. Moreover, if the content of that profile is engaging and appropriate for your brand, then you can simply convert that into a business profile. After that, you will be able to access all the features and tools that are available only for Instagram business accounts.

    You can easily convert your personal account into a business account by following the below steps:

    • In the Instagram Mobile App, go to your Profile.
    • Now go to “Settings“
    • Go to “Account“
    • Tap on “Switch to Business Account” or “Switch to Creator Account” as you like.

    This will convert your profile into an Instagram Page. It is a really helpful feature of Instagram for startups and entrepreneurs, who are looking forward to using Instagram for their businesses.

    Make Your Feed Visually Appealing

    Example of an Appealing Instagram Profile
    Example of an Appealing Instagram Profile

    The users of Instagram are groups of people from the new generation. As Instagram is mainly an app to share photos, users need to see your product before they even visit your website. Thus, it is important to upload photos of your business and products in a way that is eye-catching and stands out from the plethora of content that is thrown at users today. Besides, it is also essential here, to maintain a proper colour scheme and aestheticism that makes the grid layout visually appealing.

    When users find a post or image that is appealing, the key instinct is to open the profile and check out further products. A typical user views an image for about 3-4 seconds and on finding it interesting, takes 6-7 more seconds to skim through your profile. So, it is important to make these moments count.

    One should market their products keeping in mind the current trends, i.e., the viral happenings around the globe because they bring viewers easily. People tend to be engaged more with the posts related to the latest trends in the world of marketing and beyond it, which in turn, helps brands get more shares from their followers. This is why it is essential to monitor these trends, which include technology trends, marketing or general trends. Though the videos can provide more information than the photos, they are mostly considered less engaging for the users when compared with the images. Putting up photos, especially of high quality, will increase your engagement. Typically, users view about 10-20 seconds of a video. So when uploading one, businesses should try to put more colourful content at the beginning of their videos, and try to keep the viewers engaged throughout.

    Marketing On Instagram

    Keep in mind, that your page is not isolated on Instagram. So, keep it up to date with the latest hashtags, trends, and content that may help sell your products/services, and gain mass approval for them. Some of the biggest worldwide trends were “Fidget Spinner” and “Mature Bag” and then the social media trend based on iPhone 11’s design came, and it continues in much the same way. When users come across your page, catch their attention by producing content that is both relevant and contributes to your business.

    • Write grabbing captions
      The captions of your Instagram posts, stories and videos are really important because it is the caption that the readers read first to check if it is of any interest to them. So, you should not miss out on this opportunity to score.
    • Keep your posts formal and your stories casual
      The stories come and go, so a more formal tone would only bore your potential customers. However, here if you pour some nice and grabbing casual content, then you might still have the opportunity to hit them!
    • Use hashtags
      A major way of attracting users is by using hashtags that are widely used, and viewed by many users or those which are relevant to your business. This helps your page be visible to a greater number of viewers. Never forget the caption of your photos or don’t take it lightly, describe your images and videos creatively, use hashtags or ask the viewers questions, and use the caption to keep viewers engaged. An inspirational quote or a pop culture reference helps you score extra points.
    • Stories
      Use Instagram stories effectively to display new additions to your product line or promote your business. Be creative, original, and crisp with Instagram stories.
    • Story highlights
      Maintain clearly defined important highlights as a part of your profile as they are the first to attract the audience’s attention. Make them seem interesting and use these to especially highlight any offers or competitions that your brand is holding.
    • Add relevant CTAs
      If you want the users to click on your website or the products and services that your brand offers, then you need to tweak your content in such a way that it drives the customers’ attention, and leads them to click on the link you want to.

    Ultimate Guide to Hashtags Marketing | Trending Entrepreneur Hashtags
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    marketing, brands heavily rely on Hashtag marketing. To increase their reach
    among an increasingly global market, more brands use social media…
    StartupTalkyVidhi Punamiya

    Write An Interesting Bio

    The first thing that users will view in your account when they visit your profile is the bio. Keep the bio crisp and to the point, describing your business, but do so in a creative manner, one that shall intrigue users to further explore your account and your website. Add a link in your bio, it could be the link to your website or one that features your latest or most popular product. This makes your business easily accessible to the community. Use points to give information about yourself and use attractive emojis. You can also go in the extreme opposite direction and give a one-line introduction if you’re daring to be pretentious and if it works with the aesthetics of your product and/or services.

    Make the logo of your company your profile photo instead of changing it with each new product to give your brand space to become known and recognized by users. Often seeing the same logo, again and again, may instil a feeling of familiarity amongst the users.

    Use Geotagging

    Geotagging is a feature on Instagram. With geotagging, you can tag the location of each of your images. You can also tag your work address or the address where your business is headquartered. This further makes it easy for the followers and the customers of your brand to know the location of your business. To use geotagging, you can simply press the “add location” button, and then you can type an address or select one from the selected Instagram list of addresses.

    Tools Provided By Instagram To Monitor Outreach

    Instagram Business Account Insights
    Instagram Business Account Insights
    • Actions taken from the story: You can view the number of people who visits your profile through your stories by swiping up and checking insights. This helps you view the nature of content that attracts users, which would help you gain more insight into the factors that will help you gain more popularity. You can also promote the stories as your post so that a larger audience views your content.
    • Post insights: You can check the number of people that view your page, know how many among them already follow you, and the number of people you have reached through the explore page or the tags you have used. This will help optimize your business, brand, and Instagram account to produce content that is mass-approved and will help you increase sales.
    • People Visited your Page: Instagram also shows how many people have visited your profile in one week on your home page.

    Benefits Of Using Instagram For Business

    • Your audience is already there: In June 2018, Instagram reached one billion monthly active users, up from 800 million in September 2017. Instagram has become one of the most popular social networks in the world. So, if you have a proper Instagram strategy then there is no limit to success for your business. This is the best platform where any quality service or product can go viral within a short period.
    • Build your brand reputation easily: No matter how big or small your business is, if you have confidence in your product or service, then you have the key to success. Instagram has allowed businesses to grow freely, with equal opportunities for every one of them. You just have to take advantage of the built-in features at the right time and you are well on your way to success. Interact with more and more people, try to post quality content regularly and make sure the images you are using are in HD. Instagram prefers quality more than quantity, so make sure your content is visually appealing.
    • Generate revenue directly from Instagram: A few years back there was a limited opportunity for businesses to get success on Instagram. But now, Instagram has allowed businesses to earn money directly from the platform itself. There is a new feature Instagram has launched that is the shoppable post where you can add tags to the products in your photos with links and that will include product description, price, and the “shop now” button or link. Your audience can directly buy the products from your online store.
    • Show your creativity on Instagram: Instagram is the best place where you can show your creativity and also how attractive your brand is. Show your enthusiasm while posting content, and make it as much appealing as possible. You can also organize some contests, giveaways, special offers, and many more. This will help you to attract more and more visitors to your profile and also to your online store.
    • Promote through influencers: Influencers are the people who have a big following on social media and other online platforms. When you start a venture and you want to market it to a large audience, influencers are the people who can help you out with this. Many influencers promote brands and products to take them on the growth path. They have an audience who follows them from the heart and is also loyal to them. So here, you have the opportunity to build the reputation of your brand.

    Conclusion

    Keeping in mind all these points will help increase outreach and drive sales of the products and services you offer. Instagram is a crucial marketing tool for startups. Using Instagram for business will help gain your brand publicity and a larger market to establish itself. Many businesses are solely based on Instagram at this age, and are reaping all the benefits that the platform has to offer. Using a platform that is this popular will add to the marketing of your startup.

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    FAQs

    What is Instagram for business?

    Instagram is a popular social media platform that can serve as a valuable marketing tool for your business. You can create a business account on Instagram by first creating a personal account and converting it.

    What are the benefits of Instagram for business?

    Some of the Benefits of Using Instagram for Business are:-

    • You can learn about your customers
    • Presentation of products and services is easier
    • Customer engagement can be maximised this way
    • Instagram helps in building solid customer relationships
    • It helps in driving website traffic
    • Reaching new audiences is easier
    • You can go for prominent influencers and make them brand ambassadors

    What are the advantages of using Instagram?

    The Advantages of Instagram are:-

    • It is a popular media
    • It has a wide scope for everyone
    • Instagram offers spaces for each content creator
    • Marketing opportunities galore on Instagram
    • Instagram optimising, and marketing on Instagram is cost-effective
    • Instagram prioritises security
    • Instagram helps both celebrities and fans
    • Instagram has numerous tools to make effective marketing possible
    • Building engagement is easy

    How to use Instagram for business?

    If you want to use Instagram for business, then first you need to ensure that you have a proper profile, with a decent profile picture as your business logo. If you don’t initially have a business account on Instagram, you need to make your existing account into an Instagram business account. Some more things that you need to follow to successfully start using Instagram for your business are:

    • You need to chalk out a foolproof business strategy
    • You should optimise your profile to the fullest
    • You should keep in mind to share good quality content
    • You should focus both on attracting new audiences and engaging the old audiences

    How to create an Instagram company page or a company business account on Instagram?

    If you are looking to create a company business account on Instagram, there here are a simple set of steps that you can follow:

    • Visit your Instagram profile and click on the top-right corner
    • Now, click on Settings
    • Then, tap on Account
    • Now, chose Switch to Professional Account
    • Next, tap on the Continue option
    • Now, choose the right category for your business, and click on Done
    • Tap the OK option
    • Click on Business
    • Select Next
    • Now, add your contact details, and go for Next
    • At last, you need to tap on the X option to exit

  • Scent Marketing Strategy: Using Fragrance for Marketing

    Marketing is an essential aspect of every business. It helps businesses to attract and generate more sales. With time, business strategies change. Likewise, marketing strategies have also seen many changes over the years.

    Earlier most of the marketing was dependent on television commercials. It is still a big source but now it shares the space with other strategies as well.

    Nowadays, many types of marketing are available in the market. For example- marketing via social media, email, influencers, messaging, etc.

    Scent marketing is another example that is gaining huge popularity. Using scent is a great way to enhance a brand’s identity and influence people’s purchasing decisions.

    About Scent Marketing
    Different Types of Scent Marketing
    How Does Scent Marketing Work?
    Benefits of Using Scent Marketing
    Why Scent Marketing is Becoming a Popular Choice of Brands?

    About Scent Marketing

    Scent marketing is also known as aroma or fragrance marketing. It is a type of sensory marketing that targets the consumers’ sense of smell. Usually, businesses target the sense of sight and sound more. They make visual ads that put entertaining sounds to them to attract customers.

    This strategy of aroma is about creating a special scent linked with a brand to develop a firm bond with buyers. In this, each brand has a unique scent. It is like an aromatic logo of a brand.

    It is the art of using scent to enhance the value of a brand and its marketing message. It means strategizing to diffuse a specific scent around different corners of a store. The main aim here is to give the customers a pleasant shopping experience and enhance sales.

    Different Types of Scent Marketing

    Types of scent marketing
    Types of scent marketing

    Aroma marketing is a unique marketing strategy that influences the customers. Different brands use different types of scent marketing strategies. The following are some of the types:

    Scented Billboards

    It is a technique of marketing in which a scent is sprayed around the store. For example, every brand creates its signature scent. They use the same scent in every outlet of their brand. So, when a customer enters any outlet, they feel the same experience.

    A good-quality scent helps a brand to establish a unique identity. This enables them to attract more customers to come to them.

    Ambient Scenting

    This strategy means introducing or changing the scent of a place. In this, the businesses do not use any specific scent. They put up the diffusers that spread pleasant and relaxing scents all around the place.

    Light and fresh fragrances create a nice impression on customers. It makes the customers feel happy and relaxed and they are likely to stick around for more time. Some of the usual scents for ambiance are vanilla, floral, lavender, etc.

    Theme Scenting

    It is one of the most important types of scent marketing. In this strategy, the businesses use a scent that compliments their environment. These represent the theme of a business.

    For example- coffee beans fragrance in a café, leather scent in a shoe store, lavender in a spa mall, etc.

    The diffusion of scents must match the environment and the products. If they do not match, they might create an adverse impact.

    How Does Scent Marketing Work?

    Scent Marketing
    Scent Marketing

    All our sense travels to the brain. But, unlike other senses, smells travel to the parts of the brain in a flash without processing.

    As per different studies, 75% of emotions are based on the things we smell around.
    As per different studies, 75% of emotions are based on the things we smell around.

    Scent marketing targets our sense of smell and takes advantage of it. Brands use scents that can be specific or generic to influence customers’ emotions.

    This technique takes the benefit of scents and tries to attract more buyers. It aims to create a lasting impact of the brand on customers. It means strategically choosing scents and diffusing them at the touchpoints of customers.

    Benefits of Using Scent Marketing

    Scent or aroma marketing is the latest and phenomenal marketing technique. It has the following benefits:

    Sales Enhancement

    Quality scents help create an emotional connection with the customers. When buyers feel connected to a brand, it develops trust among them. Thus, the more they trust, the more the sales. In this way, scents enhance sales.

    Scent marketing enabled an 80% increase in the intent retail sale of Nike
    Scent marketing enabled an 80% increase in the intent retail sale of Nike

    Brand Recognition

    Scents create a direct impact on customers’ minds. Many brands like to use a specific scent. They use the same scent in all their outlets. For example- Starbucks Outlets uses the scent of coffee in their outlets. This helps them establish a strong identity all around the world. Thus, the technique helps to enhance a brand’s recognition.

    Humans have the tendency to recall smells with 65% accuracy after the span of 1 year
    Humans tend to recall smells with 65% accuracy after the span of 1 year

    Increased Browsing Time

    Pleasant scents attract the customers and make them browse for a longer time. More time in a store allows a deeper interaction between the customers and products.

    Enhances Mood and Aesthetics

    The sense of smell has a direct link to the brain. So, a fresh and pleasant fragrance is sure to lift the customers’ mood. It makes the customers feel light, fresh, and relaxed.

    A pleasant smell can improve the mood by 40%.
    A pleasant smell can improve the mood by 40%.

    Apart from this, quality aroma enhances the overall aesthetic of a place. It gives the ambiance a modern and updated feel.

    Increased Return Visits

    Refreshing scents give a good experience to the customers. When customers receive a nice experience from a place, they wish to visit again. Also, they tend to share their experience with friends and thus, increased visits.

    Elevated Value Perception

    Studies have shown that scented spaces radiate a sense of better quality. When customers walk into the stores and sense pleasant smells, they are more likely to perceive the brand as of high value.

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    Research has shown that good scents tend to create a strong emotional impact. When it comes to retail shops, a good smell has the power to influence one’s buying nature. It has been proven that pleasant fragrances make the buyers browse a store for a longer time. Hence, comes the important role of scent marketing in the picture.

    Scents help a brand to establish a special experience. It creates an idea of quality in the minds of the customers. Smell is an important sense that influences emotions. So, using a good scent is sure to create a strong impression on the buyers.

    Looking at the importance of this sense, brands are now keener to invest in scent marketing. It helps the brand to attract more potential buyers and create an impact.

    Conclusion

    There is enough proof that quality scents have a positive impact on people. In the retail space, they tend to create a lasting and strong impression on the consumers. Many brands indulge in this type of marketing. Some of the popular names are Starbucks, Burger King, Rolls Royce, Hyatt, Bloomingdale’s, and more.

    Scent marketing makes a place appear more updated and modern. It develops a sense of better quality among the consumers. So, opting for this marketing technique is a lucrative strategy for every brand.

    FAQs

    What is scent marketing?

    The use of a strategically chosen fragrance to attract customers is known as Scent Marketing.

    Is Scent marketing effective?

    Yes, Scent marketing is as effective as other practical strategies applied to improve sales and customer satisfaction. Scent marketing effectively leaves a good impression on the clients and processes them to think positively about the given business.

    What is Scent branding?

    Scent brandings stand for the meaning of linking a brand with scent. This linking provides a better recall of a brand in its client’s mind just with the memory of smell. It can create a good connection between the clients and the brand if done successfully.

    Is sensory marketing always effective?

    The strategies applied in business can never be given 100% working results. It all differs from person to person. However, with the application of sensory marketing, there is a negligible amount of adverse results. Sensory marketing directly works on improving customer satisfaction and has the highest number of effectiveness attached to it.

  • Why Different Companies Use the Word ‘Free’ to Sell their Products?

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    We have all read such advertisements in the newspapers and on social media. But, why are most companies repetitively using the word ‘free’ in their marketing campaigns?

    What psychological impact does this four-letter word ‘free’ create in the minds of the customer? How does the company boost its audience engagement and revenue by giving something for free?

    To find answers to all these questions keep reading this ‘free’ article.

    Is Free Actually Free?
    How Different Companies are Giving Products and Services for Free
    Psychological Impact of the Word Free
    Negative Impact of Overusing the Word Free

    Is Free Actually Free?

    Let’s first define the word free before we dive deep into this topic. When we say something is free we mean to say that we don’t have to pay money in order to buy the product.

    But, when we see this definition from the lens of marketing we get to know that not everything is all black and white. For example, when we buy a premium laptop the company provides us with free earphones.

    Are we getting those earphones for free? The answer is NO. This is because we are actually paying a lot of money for the laptop and the earphones at that point in time, are not absolutely for free.

    A lot of companies provide a free trial for their products. But, is that trial absolutely free? Because in most cases the company takes your email id in exchange. After that, you will receive a lot of marketing emails and maybe even calls to buy the product. Due to online advertising and SEO, the company will show you ads regarding the products on every other website.

    Nowadays, most companies ask you to put your credit card details. So, when your trial period ends if you don’t cancel the subscription on time, the money is automatically deducted from your account.

    In other words, free doesn’t really ensure convenience. Most people won’t consider such products free because the company will irritate them with tons of unnecessary advertising campaigns which ultimately leads to wastage of time of the customers. And we all know the old saying, ‘Time is Money’.

    How Different Companies are Giving Products and Services for Free?

    Before we tell you the psychological impact of the word free let’s understand how different companies use the word ‘free’ in their marketing campaigns and what effect it has on their target audience.

    Fremium

    A lot of the SaaS products provide Fremium services to their users. Here, you can use the basic functions of the products for free. But, in order to gain robust features of the service, you need to pay money.

    A popular example of this kind of service is Grammarly. Both students and business professionals can use Grammarly to make their content grammatically for free. But, to use its premium features we need to pay money.

    Grammarly Premium
    Grammarly Premium

    Now, the reason to give services for free is to make the person understand the qualities of service you are providing and most importantly make him/her habitual to the product. When I am using Grammarly daily I know how to operate the product. It has become very easy for me to use this service.

    So, when I want to buy a paid service I would automatically buy Grammarly because I know what kind of quality the software provides and secondly I have become habitual of using it.

    Buy One Get One Free

    We have also seen this marketing strategy multiple times in our lives. To be very frank this is one of the most overused strategies. But, let me tell you this strategy still works. This is because we humans want to get the most out of the money we spent. So, when we are buying a product and if we get to know that we can get another product without paying any extra money we immediately buy it.

    Papa Johns Buy one Get one Free Example
    Papa Johns Buy one Get one Free Example

    Free Samples

    Many times when we open the newspaper we get a free sachet of shampoo. When we are at malls we see a lot of people giving free samples of their products. But, why are they giving free samples? The reason for this is the principle of reciprocity. Let’s understand this principle and what psychological impact it creates in the minds of the reader.

    Psychological Impact of the Word Free

    The psychological impact of the word free is related to the principle of reciprocity. According to this principle, if someone does something helpful for you, a strong feeling to give the person something back in return arouses in your mind. For example, if your friend helps you in studying or gives you a precious gift you will be obligated to return the favour.

    The same happens when we get free samples or products from any company. After using their product we inherently get a feeling to return the favour by purchasing their product. This is the exact reason why companies give free products and services to their target audience.

    Instead of forcing your prospects to buy the product, you are adding value to your lives by giving the product for free. Due to the principle of reciprocity, the prospects themselves get the idea of buying your product.

    Negative Impact of Overusing the Word Free

    The word free has a huge positive impact on the prospects. But, if you overuse it then it will drastically impact your sales and audience engagement. As so many people use this word repetitively in their marketing campaigns the word ‘free’ has lost its charm. Many email marketing services consider the word free as spam.

    Customers as well have become very smart. When they get to know that the brand is offering products or services for free a lot of questions pop up in their mind. Is the product of high quality? Are there any hidden terms and conditions? What is the intention of the company? Is there something wrong with the product?

    If your brand is new to the market and you give something for free on a regular interval then the audience will feel that the product is of low quality. It will have a negative impact on the goodwill of the company.

    Although the principle of reciprocity works in this scenario the feeling to return the favour might turn into guilt. After a certain point of time customers won’t try your free sample nor buy your products.

    The worst-case scenario would be that you might have habituated your customers to get free products from you. This happens when you give heavy discounts on a daily basis. Your company will then have to provide free samples and discounts in order to sustain in the market. You definitely want to avoid this.

    You need to first understand how the audience perceives your brand. Remember, if you are overusing free in your business strategy you won’t build loyal customers and you will never see a boost in your profits.

    Conclusion

    Free is a very powerful word and if used correctly it will lead to positive emotions in the minds of your prospects. Although if you overuse it will backfire and harm your goodwill and revenue.

    The aim of your brand should always be to help your customers. Instead of providing a mediocre product or service for free try to make your offer exciting and helpful. If you are able to add value to their lives then your sales will definitely increase.

    Always explain why you are giving a product or service for free. Clarify your intentions and the word free will do wonders for your brand.

    FAQs

    Should you use the word free in marketing?

    Yes, Free is a word that will attract an audience and is one of the most effective ways for consumers to try your product.

    Why is free so powerful in advertising?

    Free is a word that stands out and separates your brand from the competition.

  • How to Create an Effective First Product Roadmap?

    A product’s success depends upon a shared vision that finds its approval from all the internal and external parties involved. If you have ever been a part of the product development process, you will agree with this statement, regardless of your role. There are multiple stakeholders, like developers, users, sales, marketing, and suppliers involved in product development. They all need to commit to a common plan and align their work to make it a hit.

    When represented in a visual format, this product plan is termed as a roadmap. In simple terms, it is a plan of action that brings all the teams together around the short and long-term goals associated with the product. An effective roadmap tells the story of the vision, priorities, direction, and product progress. The roadmap acts as a guiding document that the teams track and revisit to stay on the course.

    It also helps them understand if there are any gaps from their side and comes in handy in resolving conflicts between the stakeholders. More than anything, the roadmap acts as a reminder of the final goal. In this article, we will talk about how to create an effective roadmap for your first product. So let’s dive into this.

    How to Make Your First Product Roadmap?
    Presenting Your Roadmap

    How to Make Your First Product Roadmap?

    If you are given a new role as a product manager and have been asked to complete the crucial task of developing a product roadmap. You already have a high-level understanding of the product, what it should achieve, and by when it needs to be delivered. All you need to do is to represent this information in a visual format.

    You could be working on the release of a new product or upgrades to an existing one. One thing that you must remember is that product roadmaps evolve over time. However, the underlying vision should not change at any point.

    How far out do businesses plan their roadmaps?
    How far out do businesses plan their roadmaps?

    These are some steps while creating the roadmap of a product:

    Define a Strategy

    During the product development and subsequent stages, your stakeholders will often have to reflect upon the “whys”.

    At such times, you will have to bring their focus to why you are building the product. It is what will define the strategy and the vision of your goal.

    It can help you further to answer the following questions if you are struggling to define a clear strategy:

    • Why are you building a new or enhancing an existing product?
    • What are you hoping to achieve through this product?
    • How is your creation going to help the users?

    Prioritize the Ideas

    When the initial conversations start and also during the product development stage, multiple ideas will pour in. Moreover, there will also be suggestions from your customers that you would want to incorporate. You don’t have to include every suggestion, but some of these could be worth your time. The best way to incorporate them into your roadmap is by prioritizing and ranking them. This way, you will focus on what matters and make your roadmap and vision more objective.

    Define the Product Features

    Your product features tell your stakeholders what it is that your product will look like. It is also what aligns your development team with your vision. You can also include other associated information that may help them in fine-tuning the solution.

    Plan the Releases

    Any roadmap is incomplete without a timeline. It gives direction to all the stakeholders involved. It is advisable to break down the timelines into multiple releases for better efficiency. This way you’ll be aware of the deadlines and it will boost your productivity so that you can finish the work on time.

    Presenting Your Roadmap

    Your stakeholders have varying interests, and a single roadmap may not answer the questions they may have. To align everyone with your vision, you will want to show them something of their interest. It could mean creating a different view for every party. Here is how you can do it:

    The Higher-Ups

    The leaders will be keen to know about the high-level vision associated with the product. The leaders will need to understand how the product fits into the larger scheme of things at the organization.

    Product Development Team

    The development team needs to know every minute detail of the product. For instance, the team will need a comprehensive list of the features, requirements and release dates and others. It will help them in prioritizing their work to meet the given deadlines.

    Marketing and Sales

    These are the teams that engage the customers and are in touch with the market pulse. They will need to understand how your product will make the lives of your customers easy to create a sales pitch.

    Support

    Here is a team that experiences pressure after every new release. Since the team will be getting more customer queries, they will need to prepare themselves for the critical features and enhancements. They will be more interested in the dates and the associated training for their staff.

    The Evolution Of Your Roadmap

    With time, your roadmap will evolve as you may add new features or change the timelines along the way. To incorporate these changes, you must first prepare yourself to embrace them. At times, you will realize that a feature is taking more effort than you had anticipated. At other times, you may receive some information from your analytics team that may need some changes in your product plan. Ensure that you send the revised roadmap to all the stakeholders so that everyone is on the same page. The ultimate goal should be to deliver a high-quality product that brings some value to the customers.

    Conclusion

    A carefully-drawn roadmap is not just another document. It is the basis of your product’s success. Getting the best product owner certification can help you build better roadmaps and propel the organization to success. When you make a roadmap after considering all the crucial information, it will help you align your stakeholder and also prioritize more effectively.

    FAQs

    What is a product roadmap?

    A product roadmap is the basic structure of the goal, vision, direction and the progress of a product.

    What are the steps of creating a product roadmap?

    Some of the steps of creating a product roadmap are:

    • Define a Strategy
    • Prioritize the Ideas
    • Define the Product Features
    • Plan the Releases

    Who creates the product roadmap and releases it?

    Product managers are the one who creates product roadmap and releases them.

  • How to Promote Your Shopify Store? | Most Popular Ways

    Today, building an eCommerce store does not only depend upon the quality and quantity you provide but it also largely depends on the marketing techniques you apply. In the case of having a Shopify store, when you have created, customized, and uploaded products, your work here is not done yet, now it’s time to promote your Shopify store to attract more customers and boost your store’s sales. Promoting a Shopify store is not a bed of roses, it depends on your marketing budget, products, and attainable time. But with proper planning of decent marketing techniques, everyone can become successful in boosting their Shopify store.

    In this article, we will be discussing different ways how you can promote your Shopify store.

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    Ways to Promote Your Shopify Store

    Ways to Promote Your Shopify Store

    Number of Shopify shops by product category as of 2021
    Number of Shopify shops by product category as of 2021

    Building a Shopify store online is one task, but to make that store work successfully there is a need to invest your time, efforts, and money in its marketing as well.  The following are some ways in which you can promote your Shopify store:

    Promote Your Shopify Store Using Email Marketing

    As per Statista, the global email marketing market was valued at 7.5 billion USD in 2020. In 2021, according to Campaign Monitor, 64% of small businesses depend upon email marketing as their major source of customer acquisition. Such statistics indicate the superiority of using email marketing for your eCommerce store. So, one of the best ways to promote your Shopify store is to indulge in email marketing. However, there are certain things that you should keep in mind while choosing email marketing, like:

    • First of all, you need to prepare a proper email list in which you have to add the current clients and the targeted customers. This will help you get connected to the interested audience of your eCommerce store, thus helping in converting leads into customers.
    • After connecting you can start sending your welcome emails, giving information about your new product launches, discounts, and more to have better chances of attracting potential customers.
    • In email marketing, your content is the key to earning revenue and boosting your Shopify store to the customers. The content includes an eye catchy headline, body, and a call to action. Make sure that the headline should be such that it can connect with your target audiences and enforces them to open up your emails.
    • After the headline, the body of the content should be as such that it asks and excites customers to move forward to call to action. According to an analysis by Sleeknote 2022, pop-up notifications of emails containing countdown timers convert better leads into the respective sales than the ones with countdown timers. So, adding a countdown to your marketing email can be a plus point for your business.

    With all these tips in mind, you surely can take great advantage of email marketing in promoting your Shopify store.

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    Promote Your Shopify Store Using Social Media

    Social media platforms used by marketers worldwide (2021)
    Social media platforms used by marketers worldwide (2021)

    When we talk about promoting a Shopify store, social media marketing is of the utmost importance. Facebook, Twitter, Linkedin, and Instagram are the topmost social media channels for promoting your eCommerce store. The Following are some of the ways you can use social media to promote your Shopify store:

    Unique and Effective Content

    People relate to true stories. No matter what social media channel you are using, make sure to provide valuable, relatable, and organic content narrating your brand. Organize events, polls, competitions, and other features to engage the audience with the product of your Shopify store. Upload videos on how to use your product or other high-quality images and videos depicting features of your products and services. You can also take advantage of special days to promote and grow your Shopify business by giving special offers and discounts on such days. In this way, you will be able to get more attention, likes, and engagement from the audience.

    Influencer Marketing

    It is one of the best ways to create brand awareness and build trust in the product. The influencers have a large number of followers and when they promote your product, your store gets exposed to a huge audience which will ultimately help you reach more potential customers. Influencer marketing is observed to grow from $1.7 billion in the year 2016 to $13.8 billion in 2021. This huge increment indicates that investing in influencer marketing for promoting your Shopify store is a great idea.

    Advertisements on Social Media

    Paid advertisements are the best option to introduce your store to new audiences. You can use interest targeting and demographics to know about the interests of your target audience. Your ads on different social media platforms help attract more people to your store. Thus, this is another way you can use social media as a great advantage for your Shopify store.

    Promote Your Shopify Store Using Display Ads

    Promote Your Shopify Store Using Ads
    Promote Your Shopify Store Using Ads

    According to Statista, display ads have reached 238 billion USD IN 2021, accounting for the largest ad spent share.

    Display ads convince people to take a look at your product or services, and if they find them fascinating or valuable, it will help convert the leads into customers. The quality of the content of an ad must be catchy, trendy, and relatable to your store. You can also create personalized content according to your target market so that they may get attracted to visit your online store. You can opt for either native advertising or contextual advertising to promote your Shopify store.

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    Promote Your Shopify Store Using Blogs

    If you have an online store and still have not entered the field of blogging, then you must be unaware of the power of blogging. As per HubSpot, the businesses that indulge in blogs can generate 55% more visitors than those that don’t.

    Your Shopify store comes with a built-in blogging engine. While everyone is looking for different ways to promote their Shopify store, one great technique they often forget is to take advantage of blogging on Shopify. So, you can create a blog related to the products you are offering as it will help you generate more traffic and a better chance of increasing sales. Another great reason why you should invest your time and effort in this is that it can also help you to gain the email addresses of audiences and convert them into your email subscribers.

    Thus, by writing SEO-friendly blogs, you can increase the traffic enabling more people to notice your product resulting in increased sales. It will also help your website to rank higher on Google and thus more the chances of lead conversion.

    Conclusion

    In this time of increasing competition in the market, promoting your Shopify store is not just a choice anymore it is a necessity now. Marketing your product is extremely essential to drive traffic to your online store, generate leads and ultimately increase your sales.

    There are a huge number of stores present on Shopify, and if you have to stand out from all of your competitors, you must adopt different promotion techniques like email marketing, blogging, social media marketing, etc. Thus, all you have to do is to prepare and execute a remarkable promotional strategy according to your needs and budget and observe the wondrous increment in your sales.

    FAQs

    Can I do promotions on Shopify?

    Yes, you can. All you have to do is go to the marketing page on Shopify and there you can create as well as manage your marketing campaigns for promotions.

    Does Shopify include a blog?

    Yes, your Shopify online store comes with a built-in blogging engine. Setting up a blog regarding your store’s products can help you build a community.

    How does Shopify email pricing work?

    Shopify allows you to send up to 10,000 emails per month for free. After that, you only have to pay for what you use at 1 USD per 1,000 additional emails sent.

    How do I get people to buy from my Shopify store?

    You can attract potential customers to your store in the following ways:

    • Build a presence on social media.
    • Run ads on different platforms.
    • Take advantage of influencer marketing.
    • Use SEO to increase your visibility.
    • Send email marketing campaigns.

  • The Best Platforms to Run Ads for Your Ecommerce Store

    World eCommerce business emerged in the year 1982 by a company named Boston Computer Exchange where the primary motive was to sell computers online. These days, the eCommerce business is thriving as people are looking for new ways to become bosses of their businesses. The eCommerce trend is even going higher since the world has hit the pandemic. It has given ample opportunities to various business executives and entrepreneurs for selling their products and setting up their online stores.

    However, setting up an online store is not enough. In this time of increasing competition, it is essential for you to indulge in great marketing strategies to attract more customers.

    One of the best ways to market your store is to run ads for the store on different platforms. This way, you will be visible to a large audience and thus, more chances of attracting potential customers.  So, before starting an eCommerce business, certain things must be taken into consideration to effectively generate revenue from the online purchases made by the customers.

    Essentials for a Successful Ecommerce Business
    Factors for Selecting Ecommerce Platform
    Top Platforms to Run Ads for Your Ecommerce Store

    Ad Platforms & Conversion Rates

    Essentials for a Successful Ecommerce Business

    Now that you have prepared your mind to be your boss, you should be thinking about the initial steps towards a successful eCommerce platform. Here are a few important keys that you should consider:

    1. Design a superb website.
    2. Use high definitional quality for your product display.
    3. Make a distinctive selling presentation.
    4. Ensure an outstanding customer network & support.
    5. Create a marketing budget.

    Apart from all these, fetching traffic to the online store to reach a more targeted audience is also a prerequisite. Therefore, before you offer customer support to your clients, you have to make sales of your products first, through an exceptional voice.

    Thus, you have to keep in mind all of the above-mentioned key points are necessary and should work hand in hand for you to run your eCommerce business successfully.

    Many entrepreneurs often open online stores and focus on any one of the key elements and run into a loss. So, to prevent your business from losses, make sure to have a proper plan in hand.

    Factors for Selecting Ecommerce Platform

    Now that you already have a business plan for launching your eCommerce store, there are a few key points that you should consider before investing in the online store. These are as follows:

    Costing

    Different eCommerce comes with several packages, you should always go for the one that looks cost-efficient to you. Often it is seen that lump sum payments have resulted in a bad investment. Therefore, prepare a budget in your mind and stick to that. You can select web hosting after comparing the prices with different providers to get the best deal.

    Web Designing

    The website should look user-friendly for the customers. From the capture page to the sign-out page your customers should get an excellent experience so that they keep coming back to shop from your online store.

    Various eCommerce platforms make their websites theme-based. You can get these themes free of cost or even pay prices ranging for the premium themes.

    Function & Programming

    You can also customize the functionality of our eCommerce business with the help of coding and programming methods in the background. This can benefit you if you are trying to set up your online business effectively and competitively as compared to others.

    Security

    Customer data protection should be on the top priority list for an eCommerce business owner. There will be a lot of payment transactions happening on your online store page. Therefore, you should select the platform where the data of these customers are secured properly. Hence, your company will not lose any loyal customers.

    Maintenance

    To run a successful eCommerce online site, you cannot pay the fee once and get done with it. You will have to check if it is working smoothly and effectively to reach your targeted audience or not.

    If the eCommerce site has no subscription price then you have to pay for an SSL certificate which is a yearly cost.

    Per Month Hosting

    You can independently host your eCommerce business which has no subscription cost as a hosting charge. For instance, Woo-commerce is such a platform that will help you to get the hosting management depending on the traffic of the web.

    Business Software Integration:

    It is indeed frustrating to begin from the scratch and shift to a new platform when your eCommerce has a business software aligned. Therefore, you need a platform that can smoothly combine with the existing system and provide solutions without any extra price.

    A comparison amongst the best eCommerce platform for running ads for enhancing the digital platform is necessary. When you go through the evaluation process, you should keep in mind that every platform has its unique advantages and disadvantages regarding advertisements. On the other hand, you have a specific budget. Therefore, choose a platform that can suit your requirements.

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    Top Platforms to Run Ads for Your Ecommerce Store

    Cost-per-click of ads on social media platforms worldwide (2021)
    Cost-per-click of ads on social media platforms worldwide (2021)

    The eCommerce market is highly competitive. Hence, every entrepreneur is searching for new ways to promote their goods and services. Often marketing the products becomes a complicated task and sometimes even after putting in the effort, it does even reach the targeted audience.

    Again for a single user or entrepreneur, it becomes a tedious job to do all the tasks like handling social media, tracking products, checking emails, testing, analysis, etc at one time.

    So, to ease up the things a bit and take the most advantage of your marketing strategies, the following are some of the best platforms where you can run ads for your eCommerce store:

    Google Ads - Best Platform to run ads for eCommerce store
    Google Ads – Best Platform to run ads for eCommerce store

    No one can beat the efficiency and effectiveness of the strategies led by Google in the digital marketing industry. Google’s marketing platform is running the digital business for a long time. All the analysts and marketers have appreciated the advanced tools present in Google ads.

    A user can use the Google Ad services via paid promotion on SERPs. For advertising purposes, the users can use the Google Display Network facility from where the ads will be produced on relevant websites. To get new clients or even boost up your brand, Google ads can be the best platform.

    It was previously known as Double click where there was a combination of establishing tool buildings and an interface for huge data. There are few platforms like Shopify or Magento which can smoothly connect to Google ads via API.

    There is no doubt in the fact that Google is known to everyone all over the world. Also, a great benefit of using this platform is its excellent display network. So, in case you want your brand name to reach a huge audience of shoppers, then it can be very helpful.

    You can manage analytics, surveys, optimizations, tagging, or even display ads, etc from this platform.

    Pros

    • It is ideal for small businesses.
    • It is an affordable platform to run ads.
    • Provides a huge networking display giving accessibility to over 2.3-3.0 billion audience searches.
    • It boosts brands easily.
    • You can integrate it into any other software for marketing.

    Cons

    • Rates can rise up to $100,000-$150,000 each year for larger business units.
    • Customer service is limited.
    • Marketers can often get confused and face difficulty in handling the software.

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    Bing Ads (Microsoft Bing)

    Microsoft Bing - Best Platform to run ads for eCommerce store
    Microsoft Bing – Best Platform to run ads for eCommerce store

    After Google, Bing has also reached popularity over the years in networking and ad promotions. According to Microsoft, around 14.5% of approximately global market share is ruled by Bing.

    As an entrepreneur, if your target audience consists of shoppers, then you should go for Bing ad services. Also, a feature in Bing is launched called Bing shopping which is the same as Google Shopping Ads. This makes it a great and efficient platform for running ads for your eCommerce store.

    Pros

    • The competition between Bing and Google is less. It has been observed that the cost per click on the ads here is around 70-72% less in regards to that of Google ads.
    • If you want a different set of audience bases, then a Bing ad is apt for you. The best part of advertising on Bing is to get the ad promotion on AOL, Yahoo, etc. add campaigns.

    Cons

    • The features of the tool are not as advanced as compared to the other ad platforms.
    • The target audience reach is less in comparison to Google ads.

    Facebook Ads Manager

    Facebook ads - Best Platform to run ads for eCommerce store
    Facebook ads – Best Platform to run ads for eCommerce store

    In 2022, no one can think of advertisements without social media ad campaigns. Here, the first name that comes to mind is Facebook Ad manager. This is a popular choice for all business units to promote their brands across a large audience. Starting from whirly ads to extensive stories, there are numerous features in these social media platforms for promoting any brand.

    To fetch relevant customers based on their interest, behavior, demography, etc. these social media ad campaigns are the best idea for your eCommerce store.

    According to the studies of 2020 data, it is seen more than 2.7 billion people are on Facebook. Therefore to reach potential clients and users making use of this platform is important. Facebook ads definitely play a vital role in advertising your brand, selling the products, and retaining loyal customers.

    Pros

    • It is easy to reach a large audience.
    • Different and unique formatting for ads.
    • Cost-effective & budget-friendly.
    • Reaching the targeted clients becomes easier according to their age, gender, demographics, and interests with the help of this platform.

    Cons

    • Small brands may face challenges to get specific ads.
    • The conversion data is not reliable due to the latest Apple IOS 14.5 update.

    Instagram Ads

    Instagram ads - Best Platform to run ads for eCommerce store
    Instagram ads – Best Platform to run ads for eCommerce store

    Next to Facebook comes Instagram, another famous social media platform that has enhanced the reach system of the brands and products in a faster way.

    In this context, you should know two vital things about Instagram;

    • 81% of Instagram users utilize the platform for enquiring about the products and brands.
    • Around 130 million users tap or click on the shopping-related posts per month.

    The promoters can either create reel videos or image-based ads for branding the products or services entitled to them. It becomes easy for reaching the targeted audience here. Moreover, you can link the ads directly to your shopping websites or product pages which again results in a significant amount of customer engagement.

    Pros

    • Reaching the target audience in less time.
    • The effective sale is guaranteed through the unique ad formats for instance stories, IGTV videos, reels, etc.
    • Any client can purchase the product without even logging out from Instagram as the ads displayed are aligned with the landing page of the products or websites.

    Cons

    • It can be an issue for aged clients to purchase products or services via Instagram as many are not very well-equipped with the platform yet.
    • The contents posted on the Instagram platform require top-notch visual strength. This will make your brand different from others and people will be bound to choose your service. So, all this can be pretty expensive at times.

    YouTube Ads

    YouTube ads - Best Platform to run ads for eCommerce store
    YouTube ads – Best Platform to run ads for eCommerce store

    To enhance brand promotion and awareness, YouTube is doing fantastic business all over the world. The best part about these ads on YouTube is that they are helpful to drive enough traffic to your store. Therefore, if you are planning to set up your online store, YouTube ads can be a considerable option that can successfully give you revenue leads.

    Pros

    • Youtube is a part of Google’s promotion. Hence, there is already a strong data presence and tremendous capability to reach the audience.
    • It can reach different and diverse clients all over the world in less time.
    • You can expect inbuilt engagement of customers, viewers, or audience. For instance, if anyone is researching educational videos, the YouTube ads in between can take them to your store landing page through video ads.

    Cons

    • It is a bit expensive as compared to other platforms.
    • Often users skip the videos because of the format of the ads displayed.

    Twitter Ads

    Twitter ads - Best Platform to run ads for eCommerce store
    Twitter ads – Best Platform to run ads for eCommerce store

    Twitter started in 2006 as a popular social media platform. This is probably not the first platform that comes to people’s minds when they think of running ads. It is mainly created for opinions and news from people all over the world. So, this makes it a meaningful platform with a huge user base that should be taken into consideration for running ads.

    Pros

    • The high engagement rate with the Twitter ads is possible as Twitter has a re-tweet option with which it becomes easy to reach more people and get more views.

    Cons

    • Twitter ads are expensive as compared to Facebook ads.

    Pinterest Ads

    Pinterest ads - Best Platform to run ads for eCommerce store
    Pinterest ads – Best Platform to run ads for eCommerce store

    Pinterest plays a significant role in marketing via visual illustrating ads similar to Instagram. It also helps in boosting the audience’s reach like any other social media platform. In core search results, there is promoted ad facility provided by Pinterest which are shown as pinned posts. This is a great way to get your store the visibility it needs.  

    As of January 2021, it is seen the number of female audiences is 78% as compared to the male audience on Pinterest. The platform helps over 444 million users every month and 91% of weekly pinners in their shopping decisions.

    Pros

    • The conversion rate is pretty high here.
    • Pinterest is less annoying or disturbing for the users who are using Pinterest as the ads are less interruptive.

    Cons

    • The platform is not user-friendly in terms of sales in comparison to Google Ads.

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    Amazon Ads

    Amazon ads - Best Platform to run ads for eCommerce store
    Amazon ads – Best Platform to run ads for eCommerce store

    Amazon mainly focuses on reaching customers who love shopping. This helps to portray the products in the key results or search results. Therefore, it becomes an easier task for the shoppers to get a view of the wide range of products available on the site which is offered by your eCommerce store.

    Pros

    • Amazon is a reliable source for shoppers.
    • Promoters do not even require the website for branding on Amazon.
    • The easy way to set up the interface and ad portrayal help to make the advertisement process smooth. Moreover, the customers can see them and select their products in a quick time.

    Cons

    • As an entrepreneur, you have to pay an extra referral fee apart from the advertisement rate. The amount may go up to 10-15% approximately depending on the variation of the products.
    • Amazon has few strict rules for the sellers. For instance, at times, there are shipping rates, order cancellation charges, etc.

    Taboola

    Taboola - Best Platform to run ads for eCommerce store
    Taboola – Best Platform to run ads for eCommerce store

    Taboola is significantly known for its advertising base, especially for the newbie business owners looking for marketing platforms through advertisements. Exceptionally creative promotional ads have campaigned through this platform. They either use informational content or advertorials which they produce on the sites.

    Taboola ads do not resemble anything like regular advertisements hence, it becomes a hassle-free task to engage customers’ interest. Again the presence of domestic tools for advertisements helps in tracking, publishing, and producing the regional promotional campaigns. It serves best for brand promotion, brilliant audience visibility, and other contexts in various marketing channels.

    Pros

    • Awesome customer response.
    • User friendly.
    • Smooth campaign report projections.
    • Uncomplicated calculation of performance metric possible.

    Cons

    • Approval of the contents from Taboola is a very time-consuming process.

    Points to Consider

    • Pay per click policy is more on Google shopping ads.
    • Bing Ads till now, is not as great as compared to Google Ads as it faces challenges in reaching more audiences.
    • Fashion, DIY, Beauty, Jewellery, Shopping, and Food – Ads regarding all these fields on Instagram reach targeted clients in an uncomplicated way. The best way to showcase the product or service is to use HD images or Reel videos.
    • Similar to Instagram, Facebook Ads work hand in hand.
    • To make successful revenue from clients on Youtube, the creators should focus on explanatory videos or review videos. These videos should be high end and there should be accurate clarity. The exact visual presentation of the products or services and comparison between other services or products can help clients understand it in a better way. It enhances more chances of an effective sale.
    • Twitter can be a platform for boosting service or job-related brands. The audience present on Twitter is mainly school, college-goers, or even freshers or working employees looking for a job change or part-time jobs. Again, any teaching or education-related brands or websites can also fetch customers from there.
    • The female audience is mostly found on Pinterest. Thus, this platform has a beautiful opportunity for brands dealing with crafts, DIY, and gardening products.
    • Brands that have a high-profit outcome and already have a stable customer base should opt for Amazon ads.

    Ad Platforms & Conversion Rates

    There are several contents available on the internet every day. Now when you are planning to set up your brand you have to understand that the conversion rate should be high to get a successful sale of your products and services.

    What is the Conversion Rate?

    The digital retail market is growing every day and is becoming highly competitive. Setting up an online store is not an easy task if you are not getting any sales.

    Imagine you have already a promising website with an amazing product display. The reach of the product is also high. Hence, there is a decent amount of traffic.

    You have to make shoppers buy the products from the website and not only view them. Here comes the concept of conversion in the eCommerce business. In simple terms, conversion rate refers to the number of conversions divided by the total number of visitors to a website.

    It can be dependent on a few things like the cost of the product, the niche of our industry, and of course your audience. Therefore, all conversion rates in every eCommerce industry are not the same.

    Advertising Channels and Their Conversion Rates

    Average conversion rate by advertising channels
    Average conversion rate by advertising channels 

    According to Heap, Google ads stand number one in turning the high conversion rates of 8.2%. Next up are Bing ads with a conversion rate of 7.6% on an average. Facebook has a conversion rate of around 4.7%, Instagram 3.1%, and Pinterest 2.9%. Other ad platforms which turn to fewer conversion rates but are effective are Twitter (0.9%), Snapchat (0.6%), and YouTube (0.5%) respectively.

    Conclusion

    The primary aim of social and digital ads is to manage traffic and bring about more revenue. With the evolution of digital media and content marketing, an entrepreneur needs to select a faithful platform to showcase their products and bring more sales. Therefore, before choosing any of the ad platforms, you should check the limitation and advantages of your own business and brand. It should match the appropriateness of the platform to reach more audiences and engage them successfully.

    FAQs

    Which platforms are the best for online advertising?

    The following are the best platforms for online advertising:

    • Google Ads
    • Facebook Ads
    • Instagram Ads
    • Bing Ads
    • Twitter Ads
    • Amazon Ads

    Can I advertise online for free?

    You can advertise online for free by registering with Google My Business. It is a free tool that enables you to create a listing for your business so that it can be easily located on Google searches.

    Which is the number 1 eCommerce site?

    Amazon is the number 1 eCommerce site, not only in America but also in most other countries.

    Which social media platform is the best for my business?

    The following are the best social media platforms for your business:

    • Facebook
    • Instagram
    • Twitter
    • LinkedIn
    • YouTube
    • Pinterest

  • Understanding the 7P of Marketing Mix

    Marketing is the elixir of a business, if done properly it can take your business to the top of the world and make it invincible. It is the most important step of a business. Without marketing, the survival of your business and the accomplishment of the dream of your entrepreneurship is not possible. Therefore, before emerging into the path of business, you need to be aware of marketing and its strategies

    Once anyone developed the marketing strategy there is a “7P formula” to evaluate and grow the business. The 7Ps model was originally devised by E. Jerome McCarthy and published in 1960 in his book Basic Marketing. Staying ahead of the digital marketing game can be tough, especially in the world of more competition and many trends and tactics. As products, markets, customers, and needs change rapidly, you must continually revisit these seven Ps to make sure that you are on track so that you achieve the maximum results possible in today’s marketplace.

    The marketing professionals who shape and implement a marketing strategy contribute directly to the economic growth of the nation. Marketing focuses on the most fundamental requirements of companies to identify customers, and research their needs and preferences. In this article, we will discuss the 7P of marketing, so let’s get started.

    Product
    Price
    Place
    Promotion
    People
    Process
    Physical

    Product

    The product is the goods or services that the customer buys. When you market your product you need to think about the key features and benefits that the customers want or need. Ask yourself critical questions like “Is your current product or service, or a mix of products and services, appropriate and suitable for the market and the customers of today? Is the product or service you’re offering enough for your customers?”

    The perfect product must be given value to the customers and also make a good impression. Some points you must keep in mind while deciding what product you should offer are below:

    • Quality
    • Image
    • Brand
    • Features
    • Variants
    • Mix
    • Support
    • Customer service
    • Use occasion
    • Availability
    • Warranties

    Price

    It tells how much the customer pays for the product. This refers to the pricing strategy for your products and services and how it will affect the customers. Your pricing should be in such a way that it brings profit to your business. It is the only element in the marketing that generates revenue others represent the cost. Develop the habit of continually examining and reexamining the prices of the products and services you sell to make sure they’re still appropriate to the realities of the current market and its trends. Many companies have found that the profitability of certain services and products doesn’t justify the amount of effort and resources that go into producing them.

    Pricing positions you in the marketplace. The more you charge, the value or quality your customers will expect for their money. Some points you must be kept in mind are below:

    • Positioning
    • List
    • Discounts
    • Credit
    • Payment methods
    • Free or value-added elements

    Place

    The place is all about how the product is distributed to the customer. The place where the customers buy a product, and the means of distributing your product to the right place will be appropriate and convenient. The product must be in right place at the right time in the right quantity. Customer surveys have shown that delivery performance is one of the most important criteria for the supplier. Sometimes change in place increases the sale from the previous place.

    The place also means the display of your products in customer groups it may be in varieties ways like High Street, Mail Order, or the more current option via e-commerce or an online shop. Some points you must be kept in mind are below:

    • Trade channels
    • Sales support
    • Channels numbers
    • Segmented channels
    Market Segments for Method Products
    Market Segments for Method Products

    Promotion

    Promotion talks about how the customer is found and can be persuaded to buy the product. Promotion is the way of communicating what it does and what it offers to the customers. It includes activities such as branding, advertising, PR, corporate identity, sales management, special offers, and exhibitions. Promotion must gain attention, be appealing, and tell a consistent message above all to give the customer a reason to choose your product.

    Promotion does not just mean communicating with customers. It is just as important to ensure your internal stakeholders are aware of the value and attributes of your products. Some of the elements of promotion are:

    • Marketing communications
    • Personal promotion
    • Sales promotion
    • PR
    • Branding
    • Direct marketing

    People

    This P of marketing says that the people who make contact with customers in delivering the product. The reputation of your brand rests in people’s hands. When you give excellent customer service you create a positive experience for your customers, and in doing so market your brand to them. Having the right people is essential because they are as much a part of your business offering as the products/services you are offering. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of sales, marketing strategies, and activities.

    To be successful in business you must develop the habit of thinking I term exactly who is going to perform each task and responsibility. Some points you must be kept in mind are below:

    • Individuals on marketing activities
    • Individuals on customer contact
    • Recruitment
    • Culture/Image
    • Training and skills
    • Remuneration

    Process

    It tells the systems and processes that deliver a product to a customer. The process of giving service and the nature of those who deliver are crucial to customer satisfaction. Having a good process ensures two things:

    Small improvements in the processing or external appearance of your product or service can often lead to completely different reactions from your customers. Customers are not interested in how your business runs only matters is that the system works. Process in one of the ‘P’ which is frequently overlooked. Many customers will give up, go elsewhere and tell their friends not to use this company due to the poor processes provided by the company.

    This part of the process is the first expression of a company that many customers have. As a consequence, this ‘P’ could be a great source of competitive advantage if used wisely. Some points you must be kept in mind about the process are:

    • Customer focus
    • Business-led
    • IT-supported
    • Design features
    • Research and development

    Physical

    The last ‘P’ tells the elements of the physical environment the customer experiences. A service cannot be experienced before it is delivered. Physical evidence refers to everything your customers see when interacting with your business. This includes:

    • The physical environment where you provide the product or service.
    • The layout or interior design.
    • Your packaging.
    • Your branding.

    Almost all services include some physical elements even if the bulk of the customer is paying for them is intangible. The physical evidence demonstrated by an organization must confirm the assumptions of the customer. Restaurants are known to be 3 stars, 4 stars, and 5 stars. All such differentiation, and the target customer that accompanies such differentiation, is because of the use of physical evidence in marketing. Some points you must be kept in mind are below:

    Conclusion

    Once you implement all the 7P  in your business, it is ready to rock. Marketing helps people educate about a business’s products, services and the business overall. If a business aspires to be successful then it must implement all the 7P step by step, without missing one. These 7P are the reason for proper marketing of several popular brands.

    FAQs

    What are the 7P marketing mix?

    The seven P of the marketing mix are:

    • Product
    • Price
    • Promotion
    • Place
    • Packaging
    • Positioning
    • People

    What is marketing mix?

    A marketing mix consists of all the various areas of a marketing plan.

    What are the 4Ps of Marketing?

    The 4Ps of marketing mix are:

    • Product
    • Price
    • Place
    • Promotion

  • Ecommerce vs Retail | What Is the Best Option for Your Business?

    We often come across the question of whether e-commerce or retail is best for a business. E-commerce is a replica of business that enables individuals and companies to sell their services or products via the internet. On the other hand, retail refers to the brick and mortar businesses, in which individuals sell their goods or services from person to person in shops, malls, and localities.

    WIDGET: leadform | CAMPAIGN: undefined

    According to Statista 2021, total retail sales, both online and offline, amounted to 24.2 trillion USD, out of which 19.1 trillion USD was generated by the brick and mortar retail channel and around 4.9 trillion USD was generated by the eCommerce sales channel. In the same year, global retail sales accounted for a growth of 9.7% as a whole and eCommerce accounted for around 19.6% of total retail sales.

    The digital form of business has seen a great increment specifically in this pandemic. But at the same time, the heavy revenue generated from retail cannot be ignored. In this article, we will discuss different factors that will help you know what is best for your business between eCommerce and retail.

    Ecommerce vs Retail, What’s Better?

    Ecommerce vs Retail, What’s Better?

    Retail Ecommerce Sales Worldwide from 2017 to 2022
    Retail Ecommerce Sales Worldwide from 2017 to 2022

    In the following points, we will discuss a comparison between eCommerce and retail from different perspectives:

    Which Has Lesser Prior Investment?

    Ecommerce
    Starting an eCommerce business may sound like an expensive process but with proper planning and execution, one can start running it on a budget. The investment required to start your eCommerce business in India is nearly 5-10 lakh rupees. It includes building your business website, hosting, domain, sales and management tools, web development, and advertisements.

    Retail
    Investment in setting up a retail store can be an expensive process. A retail store has to invest in various things before selling its product. These include building, buying, or renting a store, paying license fees, hiring staff for multiple positions, paying location tax, investing in filling up the store with sufficient items to attract a customer, and other necessary resources relating to business and government. All such expenses make setting up a retail store far more expensive than starting an eCommerce store.

    So, comparatively, the cost of investment is lower in the case of eCommerce than in retail. The advantage of owning an eCommerce store is that it reduces the cost of setting up a brick-and-mortar store or hiring delivery staff. This is because eCommerce stores send their manufactured products to branches such as Amazon, FedEx, Ship Bob, Flipkart, etc. for order fulfilment. After this, it is the responsibility of these branches to pack, track and send the order to the buyer.

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    Which is Easier to Maintain?

    Ecommerce
    It is easier to maintain eCommerce compared to a retail store. But there are still some complications that need to be checked from time to time so that the store can run smoothly. For example- you need to maintain a warehouse or any proper space to keep the products safe and accessible for dropshipping. Since you are not directly connected with your customers, you will have to keep a check on analytics to track customer experience and discover their new tastes and likings. You will also need to keep a check on the timing of product delivery to avoid negative feedback from customers.

    Retail
    The retail business is considered to be a bit more complicated in terms of maintenance. This is because for various reasons like there is a need to maintain a proper brick-and-mortar store and inventory, and maintenance of an adequate communication balance on both sides in real-time with suppliers and customers. Also, you have to keep a regular check on your staff if they are handling the customers politely. You will have to train them and make them more knowledgeable about the services and products you are offering so that they can deal with the customers pleasantly and accurately.

    It is easier to modernize the stock in an eCommerce store. But this task becomes pretty difficult with retail stores as for updating products, you need to set up meetings with suppliers now and then. So, in case of ease of maintenance, eCommerce is a better option for your business.

    Share of consumers going to brick and mortar stores by country in 2021
    Share of consumers going to brick and mortar stores by country in 2021

    Which Has Better Profitability in Future?

    Ecommerce
    With eCommerce comes a great benefit which is unlimited access to customers. Once you are over the internet, there is no limit to the number of people you can reach. Ecommerce allows you to showcase your products and services to a large number of people, therefore, no limitation to any particular locality. Moreover, you can always expand your business and attract new customers via smart and modern marketing techniques. These include offering free shipping, discounts, gift cards, reward points, etc. All this ultimately ensures better sales and thus, better profits.

    Retail
    Retail stores do not have very wide access to the customers as they have limitations due to their fixed location. However, this does not mean that there are no benefits of a retail store. Even in today’s time, many customers do not feel satisfied until they can touch and feel the products themselves. So, the customers who are still skeptical about online shopping contributes to the sales and profits of retail stores. Moreover, there are fewer chances of online fraud with retail shops, as the customer doesn’t need to provide their personal information including emails, mobile numbers, bank details, etc.

    In this case, eCommerce will be the clear winner because the products and services of eCommerce stores are visible to a huge audience which makes for a large potential customer base and thus, better sales and profits.

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    Conclusion

    We compared e-commerce and retail stores based on investment, performance easiness, and profits obtained. Although there are factors like trusted quality and physical interaction that make retail stores better than eCommerce ones. But after making an overall comparison and looking at the future of the digital world, we concluded that eCommerce stores are the best way to expand your business and earn more profit in the future since it offers a wider reach with less investment.

    However, you can also take another way which is you can opt for omnichannel retail as it allows you to buy products either online or physically through the real stores to keep your customers satisfied in all the possible ways.

    FAQs

    What is the difference between eCommerce and retail?

    Retail is something that can be conducted in a brick-and-mortar store, online, between persons, or through direct mail. However, eCommerce refers to electronic commerce which means commercial transactions that are conducted only through the internet.

    How owning an online store is better than physical stores?

    Owners of the online stores can sell and ship their products and services to a large number of people with fewer investments as buying a website is easier and more economical than buying a physical store.

    What is the biggest challenge faced by eCommerce?

    One of the most significant challenges faced by eCommerce is the security issue. Ecommerce involves a great deal of personal information and even a small technical issue can create huge damage to a business’s operations and image.

    What is a retail store?

    The most common example of a retail store is the conventional brick-and-mortar stores like Walmart, Best Buy, etc. However, retailing as a whole includes goods or services sold through stores, kiosks, or even on the internet.

  • Email Marketing vs Social Media Marketing | What’s Best for Your Business?

    Marketers adopt countless ways of marketing and creating brand awareness for businesses. Two of the most common and effective methods of achieving marketing goals are social media marketing and email marketing. Both are wondrous in their ways. According to Statista, there were around 4.1 billion email users and around 3.78 billion social media users worldwide as of 2021. This number forms around 48% of the total world’s population.

    Social media is gaining popularity day by day. But, at the same time, we can’t oversee the influence of emails on its users for trade. Now the question is which is better? Which of the two can have a greater impact on the target audience? You will get the answer to all of your queries in this article. So, let’s start this battle of Social Media Marketing vs Email Marketing.

    What is Email Marketing?
    What is Social Media Marketing?
    Social Media Marketing vs Email Marketing
    How Can You Effectively Combine Email and Social Media Marketing?

    What is Email Marketing?

    Email marketing is a kind of digital marketing that uses emails to create brand awareness. It puts forward the latest services, products, offerings, discounts, and everything among the users to make them aware and remember the brand. Some of the benefits of email marketing include:

    • It assists in building and enhancing the customer experience.
    • It makes for a profitable strategy to reach the audience emotionally through personalized emails.
    • One can save a lot of time in this marketing strategy via its automation feature.
    • It is measurable, hence one can measure the growth of a marketing campaign via web analytics in order to get accurate data.
    Number of email users worldwide from 2017 to 2022
    Number of email users worldwide from 2017 to 2022

    Industries Benefited from Email Marketing

    A Snovio labs study reveals that 72% of customers belonging to business communication prefer emails over social media. Here are some of the industries that enjoy the benefits of email marketing:

    Automotive

    This is the foremost industry that boosts its sales via email marketing. With email marketing, it becomes easy to track customers’ choices. One can obtain a huge amount of profit in a single purchase. Email marketing is used by the industry to share about new models, sell insurances, and more. Thus, the automotive industry is one of the most benefitted from email marketing.

    Pharmaceutical

    A survey in which 4000 physicians took part revealed that only one-third of physicians use social media channels. Doctors usually don’t spend their time on social media, and that’s why the pharmaceutical sector performs its marketing via emails.

    The following are some of the examples of top companies that use email marketing for their success:

    • Airbnb
    • Uber
    • Bonobos
    • Cook Smarts
    • Kate Spade
    • Litmus
    • BuzzFeed
    • PayPal
    • Drift

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    What is Social Media Marketing?

    Social media marketing refers to the promotion of services and products by using social media platforms. It is the most exciting and powerful way to reach new targeted customers from all over the globe. Some of the benefits of social media marketing include:

    • One can connect with the audience related to the business worldwide.
    • By creating effective posts and stories, one can drive more sales to one’s website.
    • It helps convert the new audiences into customers, thus increasing conversion rates.
    • It leads to enhanced search engine rankings, which ultimately contributes to a brand’s popularity.
    Number of social network users worldwide from 2017 to 2022
    Number of social network users worldwide from 2017 to 2022

    Industries Benefited from Social Media Marketing

    According to a study published on BarnRaisers, around 92% of total customers trust social media instead of any other form of advertising. Here are the industries that benefited the most from social media marketing:

    Entertainment

    The entertainment industry has the biggest share of social media marketing in comparison to any other industry. As per a report, 63.2℅ of all the posts on Facebook belong to the entertainment sector. These sectors include telecom, retail, financial services, beverage, and food. Instagram is one of the best examples of entertainment sections generating a handsome revenue.

    Retail

    The retail sector comes in the second position after entertainment which has benefited from social media marketing. Live sessions or chatboxes on Instagram or Facebook are famous examples. It also assists in displaying features of products and services which is great for the retail startups in today’s time. Moreover, the positive feedback from the customers on social media works like word of mouth which attracts more customers.

    Real Estate

    A study according to a real estate website states that 44% of customers become successful in obtaining new clients for their properties from social media. Brokers, agents, property managers, and developers all belonging to the real estate industry, utilize social media for their marketing. With social media, it becomes pretty easy to showcase the features of properties in dynamic ways.

    The following are some of the examples of top companies that use social media marketing for their success:

    • GoPro
    • Nike
    • Spotify
    • Wayfair
    • Pop-Tarts
    • National Geographic
    • Starbucks
    • Dove
    • Wendy’s

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    Social Media Marketing vs Email Marketing

    In the following points, we will discuss which is better among email and social media marketing from different perspectives:

    Which is Effective in Reaching The Target Audience?

    According to OptiMonster 2020, around 99% of email users check their mailbox every day. Some people even check their emails around 20 times in a single day.
    On the other hand, the community that opens up social media first thing in the morning is more likely to use it for personal purposes. So, basically during the workdays, people are more likely to check their emails first rather than their social media.

    When it comes to targeting, every business wants to capture its target market to be successful. When you indulge your business in paid social media advertisements, you get to select who sees it to a certain extent. However, in the case of organic advertisements, you do not get control over who sees it and who doesn’t. On contrary, with email marketing, you can segment the entire list of your target audience to gain the best results. As emails will help you reach the target audience better, email marketing seems to be a winner here.

    Which Has The Better Return On Investment (ROI)?

    The return on investment(ROI) refers to the measurement of profit after some investment or comparison of revenue of various investments at a particular time. According to DMA 2019, one can get a return of around £42 for just a pound worth of investment in email marketing.

    On the other hand, as per the study published in Forbes, around 6% of marketers could execute customer relationship management on social media, while 56% of them were still in the planning stage of how to achieve it. The fact is that social media ROI can be fruitful only if you are super-viral among a few channels. So, the chances of obtaining satisfactory returns decrease on social media. Hence, email marketing is the winner in this case.

    Which Can Attract New Audiences Better?

    Although email marketing has a huge user base as compared to social media, when it comes to reaching new audiences, it is hard to acquire them through it. This is because social media has no limits. You must have seen several channels, specifically Instagram and Facebook with a lot of supporters, this makes it a great source for new audience attraction.

    If you provide insightful and useful services and products to the consumers, then they will share them on their social media which will directly lead to increased traffic on your brand channels. You can achieve wonders in your business once your posts can start getting viral. Creating more sponsored advertisements for your products is another way to reach new audiences. Thus, this is the field where social media marketing seems to win the battle.

    How Can You Effectively Combine Email and Social Media Marketing?

    Impact of social media on email marketing in India in 2021
    Impact of social media on email marketing in India in 2021

    Now when both kinds of marketing have their pros and cons, what if we combine both and extract the only pros from these forms of marketing. So, here are how you can effectively combine email and social  media marketing for your business’s success:

    • Reuse the content on both channels. It will save your time and is also cost-effective.
    • Generate a similar content calendar for both the channels and adopt a parallel content strategy for both platforms.
    • Use social media to collect emails from your brand’s audience. Add call to action buttons to the social media posts which further lead the user to enter an email so that the brand can proceed with email marketing.
    • Organize engaging contests or giveaways on social media and collect emails from users. For instance, you can ask the users to provide a tagline for your brand and in return, you can give some prize. This will intact your brand in users’ minds and create audience engagement too while participating in contests.
    • While getting positive responses from social media about the channels, you can send feedback in emails that will lead you to convert your audience into customers.

    Conclusion

    Here the battle between social media marketing and email marketing ends. What we observed is that the preference for email marketing is still alive from various perspectives. But we can’t oversee the gaining popularity of social media day by day where around 3.96 billion users reside.

    So, the best thing for businesses is to combine their social media and emails and market their products and services accordingly to maximize their chances of success.

    FAQs

    What is the difference between email marketing and social media marketing?

    Email marketing focuses on customer relationship strengthening whereas social media is more focused on attracting new potential customers.

    Is email marketing better than social media marketing?

    As per overall performance, email marketing does perform better than social media marketing due to the huge amount of email users and better opening rate.

    What are the advantages of email marketing?

    Advantages of email marketing include:

    • Improving Sales
    • Collecting feedback
    • Reaching the right people at the right time
    • Traffic generation for your website
    • Increasing leads

    Which is the biggest social media platform for business?

    Facebook with over 2.9 billion users is the biggest social media platform for business.