Month: October 2020

Categories
Marketing

Easy And Useful Tips For Festive Marketing Campaign

This pandemic has changed the aspect of the festive season feel and has drastically changed the business possibilities for all businesses. And it’s visible how the brand owners have transformed its marketing strategies to achieve the sales target in this pandemic time. The change in this market strategy is for the only hope to bring back falling businesses into life again.

The festive season is here again! Everyone is thinking about how to shop for dear ones with the unrelenting fear of corona spread. Therefore, if you want to plan to grab this golden opportunity to boost your sale and revenue, it’s time to start planning your festive marketing by following all the safety norms for your customers.

Due to the pandemic, a customer prefers online shopping for festivals. India is a land full of festivals like Navratri, Durga Puja, Diwali and this is the time of the year when officially festive shopping days begin. We bring you a few festive marketing ideas that can help you supercharge your sales.

Review Your Performance

When you go over your previous performance in terms of sale, you come across how successful or down it was. It is okay as every brand face ups and downs. More significant is what you learn from it and how you improve it this time.

Well, once you are over with analysis and reporting, you need to list down the points that concern your team. Your team directly connects your brand with your customer. Think out what skills and training are needed to optimize the productivity of your employees. 

Website Personalization

Personalization is not personalizing the name only but also about providing relevant content to the users. During this festive season, build eye-catching and relevant content. The web site landing page is the first a user sees and entices new or existing clients.

For this, you can plan a festive theme landing page for the festive season. The following step after designing a website, you should focus on the content which is related to the festivals, the more personalized content more traffic from the organic crowd. And most importantly, don’t forget to fix the website mobile-friendly website, so that it’s easy for the user to access.

Use Custom Hashtags

Hashtags are trending and popular in almost all channels. It makes it a lot easier to get to your user. By many digital marketers, hashtags are a successful tactic for gaining. For spreading awareness or taking off a campaign for creating some buzz and make it trending.

When you are working on designing and content for social media marketing, then takes time to research and making custom hashtags for your festive season. There many examples where hashtags turn out to be the reason for the success of the effort.

Make Social and Ads Marketing Plan

Creating personalized marketing helps you to establish a relationship with your audience. Festive seasons mean great deals and offer throughout the time online or offline market. And social media is a smart choice and platform for this start of business growth.

Therefore, planning, social media calendar, and ad structure before this festive season will help you to streamline your work in the time of the festal season. It will assist you to increase the sales and relationship between your brand and customer.

Let this festive season be the reason for a great deal of happiness and success for the brand and your customer. When you act towards making a strong relationship with your new or existing client, then you automatically increase the sale. These tips help you to personalize marketing strategies.

 

Categories
Startup

Indian Startups to Get a Boost As Atlassian’s $50Mn Global Venture Fund to Focus on India’s Growing Startup and Developer Community

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Bengaluru, October 19: In what is believed to be a major boost to India’s growing startup and developer community, Atlassian Corporation, Australia’s leading software firm on Monday announced the launch of Atlassian Ventures. The new $50 million global fund aims to invest startups, including established companies that are already building products in its ecosystem. This leading firm in Australia, which set up a research and development centre in Bengaluru last year with plans to expand it further, said it is keen to nurture India’s vibrant startup ecosystem and rich technical talent pool.

Dinesh Ajmera, Site Lead and Head of Engineering, Bengaluru, Atlassian said that with India’s cloud market among the largest in the Asia Pacific region, the firm believe this fund will be an ideal opportunity for up-and-coming startups in India to access funding when building apps for our cloud products. “India is a significant market for Atlassian, one that’s teeming with an extraordinary developer community and a vibrant startup ecosystem that we plan to tap into,” Ajmera added.

According to reports, the company’s software products such as Jira, Confluence, Bitbucket and Trello are used by 1,74,000 customers worldwide, including Ola Cabs, Reliance, Walmart Labs, and Flipkart, to name a few. Atlassian Ventures will invest in three types of companies.

Ajmera informed that firstly, the early-stage startups which are building apps for any of Atlassian’s cloud products and secondly, the larger, more established ecosystem product partners who are ascaling their businesses and finally, the existing sales channel partners who are looking to step up their cloud services and create new products that support the future of teamwork. “As part of this programme, companies that receive funding are also eligible for mentorship as well as global exposure at Atlassian events,” he said.

Categories
Business motivation

4 Reasons Why People Leave Their Businesses To Work For Someone Else

People are built different, they think differently, they talk differently, they work differently, and they want differently. People want different things from life. In the business world, where professionals can always be seen attracted to starting a business of their own as they that 9-5 routine doesn’t provide them the feeling of contentment.

This Job Vs Business debate has confused many brilliant minds and would continue to do so if people fail to realize what do they want along with what works the best for them. In this article, we will discuss some of the reasons why entrepreneurs leave their businesses to go to work for someone else. So, keep an open mind and try to understand the sincerity of the words.

A Job Provides An Enriching Experience

People often start their businesses thinking that they know enough to be starting an empire. But as time goes on, they realize that they do not know enough to make their business reach their maximum potential. This is the time they realize they need to join or work for someone else who has the expertise and could provide them with the relevant experience. It is almost like paid education.

Acknowledgment And Motivation

Some people who abruptly make the decision to start their own business do not really realize the amount of hard work and dedication it takes to build a business. Many times this hard work is not thanked enough. This causes a sense of hopelessness and a lack of motivation and drives to keep doing better. When you are in a job, you are time and again acknowledged, incentivized, and rewarded for the great work that you do. This motivation and appreciation is a very important factor for some of the businessmen to quit their business and start working for others.

Stable Income

ALthough People know that a business goes through all kinds of phases and ups and downs are the only constants in a business. However, some fail to take the pressure that tough times cause and they give up by quitting the business to go work for someone else. The regular paychecks and stable income is something that lures some of the entrepreneurs to go back to doing what used to do earlier. One can not deny the sense of relief that tags along with stable income especially if you have a family to provide for. 

To Make A Difference

People may be impeccably good at what they do but still might not get the desired results. Some people are ambitious which is not at all a negative trait but sometimes leaves a person less fulfilled with the difference they are making with their business. Some people do not have the required patience to wait and see a business grow eventually, hence they leave to join a bigger organization to make the most of their skills and make a bigger difference with the help of a bigger platform.

The reason behind explaining all this is just to make you aware if you are ready yet to be starting your own business and not at all to discourage the entrepreneur within you. It is all about taking your own time, learning all that you need, and gaining enough wisdom to be enduring all that it takes to build a successful business so that you do not see it as a mistake midway.

Categories
Business motivation

Manufacturing In-Depth: The Good And Bad Of The Manufacturing Industry

उद्योग
उद्योग

How would you define manufacturing? In popular opinion, manufacturing is the process of combining the efforts of machinery and labour to make wonderful things with the help of raw material to put up for sale and making money out of it. Generally, when the manufacturer is used, it is associated with large scale manufacturing of finished goods. However, India is a developing country and has seen its fair share of struggles with keeping up with the manufacturing business.

Realizing the need to keep up with the pace and establishing India as a global player, the government is on top of its game to encourage businesses to make in India. This piece is written to present to you some advantages and disadvantages of starting a manufacturing business in India so that you can decide if you will be up for the challenge to emerge as a winner.

Let’s Break The Bad News First

The power shortage

One of the biggest drawbacks of running manufacturing is the unavailability of power 24*7. This setback does not allow the operations to run properly during business hours, let alone the smooth operations 24*7. This ultimately affects the efficiency, productivity, and output.

The affected Labour Productivity

The evident lag in supply chain management, transportation, and maintenance takes a toll on the productivity of the labour assigned to operate the machinery or to do the manual tasks.

The Costs of transportation & Logistics

The costs of transportation in India are really high and we all know. It takes very long to transport raw material from one point to another. The condition of logistics makes the situation even worse.

Troubles With IP Rights

One of the biggest issues with having a manufacturing business is the trouble that business goes through while protecting intellectual property.  As if it wasn’t bad enough, the ongoing reforms in India related to IP are only adding to the problem. 

We Saved the Good For The Last

The Government Support

Much needed in these troubled times, the support of the government of India is successfully managing to plant a hope in the heart and a dream in the eyes of the potential manufacturers by giving the message loud and clear in the form of the “Make In India” campaign. This pandemic has forced us all to realise the need to become independent as a nation, regardless of the kind of industry.

Top-Notch Quality Of Production

The recent example of Apple moving its manufacturing unit in India is perfect to back the fact that India ranks pretty high when it comes to the quality of production. Indian manufacturers have always believed in using top quality machines which is not beginning fruitful results.

Cost-effective Labour

Now let’s be specific that hiring labour in India is way more economical than hitting it in any other country. Both India and China have a very large population with a very high number of skilled and unskilled labor, but India has a clear upper hand as the labor cost is way less. The corporate giants have realized this fact and now is the time for the start of the Indian Manufacturing industry to shine.

Pros and cons are two sides of the same coin. If you sign up for something, you can not give yourself a false hope that it will be a bed of roses. Just accept the fact that India is still in a developing phase and will take its own sweet time to get there. If you start now, chances are you will be among the leaders in the coming years. Just promise your hard work and dedication to your business, the rest will fall in [place on its own.

Categories
Startup Strategy

Right Marketing Strategies And Tips For Attracting Franchises

Franchise business is one of the great opportunities, which has profited scope and its trending as well. There’s only one risk associated with this business if you can find the right franchise partner.

Whenever we talk about procuring new customers, we have a lot of experts around us, but finding the right partner for a franchise is a difficult task. Having a suitably qualified partner who can operate your franchise can be a definite challenge. Looking for the same minded person who can showcase your brand as you want is tough, but not impossible.

Therefore, we have some tips with which you will be on the right path to find a franchise partner.

Brand Positioning of Your Brand As An Expert

Creating your brand as an expert in the marketplace is far different from creating brand awareness. As a brand owner, your foremost focus should be on enhancing industry knowledge as a resource for the others. For this, you need to make efforts to join the webinar, round tables as often as possible.

You need to ensure on stand out and provide more to your target audience than your competitors. Therefore, you need to be honest, clear, and consistent. It will help you to build trust and establish as an expert in the marketplace.

Be Appealing to Franchises

Never let down your franchise partner by putting the right scalable systems to support. Treat your partner as equal, let them be privy to the inner working of the company, and offer them support programs with good communication to keep them engaged with your brand.

Building Strong Communication

For building strong communication with franchises, you can leverage your social media network and digital communication platforms. By providing all kinds of information to them can help you attract and convert prospective franchises into new partners.

When you provide support and solve the queries by current partners through social media channels, it will showcase your strong communication skills to your new partners.

Building Strong Online Presence

Just finding the right franchise partner should not be the only goal of yours. It doesn’t refer to simple branding and corporate messaging, but also building a strong story for your brand. Your aim should be to share your philosophy, ethics, and your vision behind the brand.

The best idea to support creating a separate web page on the current website to share or talk about the franchise partner. It can have all the details for signing up a new partner to the testimonials of the existing one.

Creating a Strong Marketing Strategy

Building a strong marketing strategy can be beneficial to acquiring a new franchise and doing the happy existing one. A strong brand name with efficient advertising and strategy is what is required at difficult times like COVID-19. Include SEO, organic search optimization in your marketing plan.

Finding the right franchise partner can excel in your business growth. For that, you need to work on the correct tips for marketing strategies to attract franchises on board.

 

Categories
Marketing

Top Trends To Remember Before Planning Digital Marketing Strategy

With the ongoing pandemic, the situation has changed the business operation. Social distancing, lockdown, and restricted movement have given a sudden shift towards digital platforms. Now the use of digital marketing has increased by 10x in the past few months. Now old and new business owners understood the significance of the digital platform and started adapting to this new normal for better growth.

This digitization is bringing a revolution in terms of marketing strategies and communication with the target audience. Therefore, it’s time to adapt and enabled new methods with tools for marketing strategies. Today, most brands are working on reassessing and evaluating their marketing strategies by adopting fresh trends.

Here are a few of the trends that have arisen in the industry:

Referral Marketing

With the changing time, the customer also has changed in perspective towards the brand trust, now they are not driven only by flashy ads. They are more inclined towards deciding on the base of users’ experience previously. Many eCommerce sites like Myntra, e-grocery, Ed-tech sites give an existing user opportunity to referral code for inviting new customers and earn rewards.

That helps you in getting the customer interest of both new and old customers.

Campaigns Led by Influencers

The influencer market has peeked the market to heights. Now brands prefer influencer over celebrities as a customer feel more connected to them rather than celebrities. Therefore, there is a shift to do indirect marketing trends on social media through these influencers.

That leads not to connect existing customers, but attract new ones as these influencers have their huge customer base of own.

Don’t Bind Your Brand With Language

Now brands have set about using regional language to build a connection with customers. This aspect helps in demonstrating a more intimate relationship with the customer, and now brands are creating their interface in the local native language. It is giving an opening to a new potential for brands and customers for more dependable services and feedback.

Focus on Building Interesting Content

As said and proved, that content is the king. The content can build your brand image positively and negatively. Therefore, using the right content plays a major role in building the value of your brand in customer minds.

Now creating creative content, you need the help of an expert team. Therefore, brands are hiring teams with a creative bend of mind. Now brands driving all the best ideas possible to attract existing customers as well as a new one by plain text to animation.

So, as you can see, things are moving fast in digital marketing So as you have noticed, things are changing at a fast pace in the digital marketing world. Still, content is king, and building a connection with the customer is important. It is no time for a brand to stand still, time to rethink your business strategy to attract customers. Hope these trends help you to reach out to your customer and benefit you in business growth.

 

 

Categories
Business motivation

GST: What Is Goods And Services Tax And What Are The Benefits It Offers?

The change that is now recognized as one of the biggest reforms made in India that changed the entire game of how and what taxes are paid. Yes, We are talking about GST, goods and services tax, that includes many indirect taxes which were imposed by the central government such as excise, VAT, and service tax. GST has helped the MSME sector a lot by simplifying the process of filing returns, hence, decreasing their dependence on the experts who used to help them earlier with filing their taxes.

Components of GST
  • State Goods and Services Tax (SGST): Tax levied by the State Government
  • Central Goods and Services Tax (CGST): Tax collected by the central government
  • Integrated Goods and Services Tax (IGST): Tax applicable on inter-State supply of goods and services by the central government

There are many such benefits and advantages that GST offers, and anybody who is an aware and responsible citizen of India should know about it as it affects not only the entrepreneurs but the customer as well. Some of the main benefits are

Technical Advantage It Offers

The best thing about the introduction of GST is the technology that is involved in the process which is playing to its strengths. It is now way easier to register and to file the returns. There is an online GST portal that will help you with

  • Registration
  • Return filing
  • Application for refund
  • Response to notices
  • Consumer grievances

Uniformity In Taxes

Earlier, when GST was not in existence, there were several other taxes that unintentionally increased the cost of goods and services. However, GST has not absorbed all these taxes such as VAT, Excise, and service tax to rescue the cascading effect they had on the entire process. GST has brought that uniformity that much required and has ultimately resulted in the reduction of the total cost.

The Composition Scheme

GST offers a composition scheme under which small businesses that have a turnover of up to 75 lakhs can benefit by lowering their taxes by making the required changes. This has helped so many businesses with the unnecessary burden of tax and compliance.

Higher Threshold

According to this very beneficial reform, businesses that have a turnover of up to Rs. 20 Lakhs will be exempted from paying the GST. Earlier, with VAT, businesses that had a turnover of more than Rs 5 lakhs had to pay this tax. This change is speaking for the evident relaxation that has been provided to small businesses.

These are only a few of the many changes that were brought into existence to ease up the burden on the needy and to bring transparency in the whole system, Sure, which reform of this magnitude, there were some difficulties that were introduced, but the number and magnitude of the positives it brought can any day overweight the negatives.

 

Categories
Business motivation

Distribution Business: The Business Trend That Has Been Winning The Hearts Of Budding Entrepreneurs Over The Years

Distribution business ideas or as many would call it wholesale business ideas, is one business trend that never lost its charm over the years and has continued to solidify its significance in the Indian market. All entrepreneurs who are trying to build a business from the scratch and have a budget that is a bit stretched could start this business without worrying about the overhead expense/costs that a manufacturer or a retailer has to bear. 

In this article, we will introduce our readers to 4 such business ideas where they just have to carefully strategize, execute, and plan along with keeping eye on the product demand and the capital.

Business That Involves Distribution Of Medical Equipments

The most important thing that this global pandemic of COVID-19 has taught us is that the healthcare system needs to be more organized and needs to be well equipped. Medical and healthcare equipment will always be needed by hospitals as well as patients. Hence, if you have good connections with a good supplier as well as a medical organization, this business will be a profitable affair for you.

Cosmetic And Personal Care Distribution Business

The majority of the population in India that is 65% is below the age of 35.  The millennials in our country, who are all very aware of the beauty and personal care regardless of their gender, have made this business this popular. If you are someone who has an interest in selling these kinds of products and know-how and where you can find your potential retailer, this is the best business to be in. Just remember to be associated with a supplier that only and only makes high-quality products.

Automobile Distribution Business

This has been a popular choice and is continuously growing as a market. We all as a nation are witnessing the development and can clearly see better connectivity in the form of roads in semi-urban and rural areas. With better connectivity, emerges the ease to have your own vehicle for communion. With the growing demand for vehicles, this business is topping the chart as one of the best distribution businesses. However, it will require you to put in a large capital.

Home Appliance Distribution Business

This distribution business has always been in demand and has always experienced good profits because home appliances are something that is now a very common thing to be seen in every household. With new models coming in every now and then, people tend to replace the old with the new and better ones. This cycle has proved to be extremely profitable for the people who are in this business. If this is something that excites you, go for it.

There are sure goods and services that are greatly sought after and one needs to distinguish that item and sell it remarkably. In case that the item wins the hearts of your customers, they will be prepared to follow through on an excellent price for it.

 

Categories
Business motivation

The Key To Successful Marketing Business: How To Make Your Marketing Agency Number One In Market

Very fondly we write in big bold letters in the tagline “the best marketing agency in the market”, but do you agree with this statement? Deep down you know it is very hard to live up to your words and make your customer believe in you and your business. Nonetheless, there are a few traits that make a marketing agency stand out and be known for something it is best at doing. 

To take pride in your business and to make it more successful than ever, we are presenting to you some traits that are often observed in some of the very successful marketing agencies regardless of the scale they operate at. Brace yourself and walk this journey with us to become a part of the successful lot.

The Abundance Of The Creative Juices

The success of a great marketing strategy heavily depends on how creatively the campaign has been designed. Yes, creativity holds the same importance for a marketing firm that marketing holds for any business, You can not survive without it. It is important to have that creative eye to be thriving in this business and to make your marketing strategies not fall into the same old stale ideas that have been used to date.

Execution Is Key

Just imagine you coming with a solid plan that nobody has ever thought of, but the catch is that nobody is experienced enough to execute that idea and turn it into reality. To avoid finding yourself in such a situation, work on coming up with some tried and tested processes that have never failed you in the past and with the help of which you can

Market Yourself Before Marketing Your Customer

How exactly do you think your customer will trust you with marketing their business if your business lacks it in the first place. To help your customer develop faith in you and your business, work on marketing your business first. Let the world know that you are all about setting an example for others. Work tirelessly on building a strong online presence and let the word of mouth work its wonders.

Flexible And Fluid With the Media

Why do you think a client comes to expect of you when he asks you to market his business? He wants his business to market via all kinds of mediums, be it print media, electronic media, social media, radio, and whatnot. It’s okay to have expertise in a particular medium but you should be fluid with working on others as well and kill all the reasons for your customer to get disappointed.

Most of us think that marketing is all about posting social media creatives and increasing brand visibility. No, marketing is much more than that as there is a lot to it than meets the eye. It demands a lot of attention, creativity, execution, and awareness. Although success is mostly driven by your hard work, these traits will surely help you solidify your credibility and image.

Categories
MSME

Credit Guarantee Scheme For MSME Sector Unlikely to be Extended Beyond October 2020

Currency (Photo Credits: Pixabay) Representational Image

New Delhi, October 19: The Narendra Modi government is unlikely to extend the Rs 3 lakh crore-Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector beyond October. According to a PTI report, this scheme is meant to provide financial support to businesses, primarily Micro, Small and Medium Enterprises (MSMEs), impacted by slowdown triggered by the coronavirus pandemic.

As per sources quoted in the report, the decision to not extend the ECLGS scheme has been taken even though the sanctioned amount so far is only nearly 65 per cent of the target.

On August 1, the government widened the scope of the Rs 3 lakh crore-scheme by doubling the upper ceiling of loans outstanding and including certain loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit.

The objective of the scheme is to provide support to all those affected in the coronavirus pandemic and if there are no takers for the scheme, then the scheme won’t be extended even though there is some room left.

On August 1, the government widened the scope of the Rs 3 lakh crore-scheme by doubling the upper ceiling of loans outstanding and including certain loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit.