Tag: advertisement

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Strategy

5 Key Strategies For Small Business To Sustain Online

5 Key Strategies For Small Business To Sustain Online
5 Key Strategies For Small Business To Sustain Online

Summary: To have a sustainable business online in today`s dynamic business world, companies must think beyond traditional strategies and look toward more innovative possibilities.

We are living in a world where digital dependency is at its peak. In this post-pandemic world, embracing digitalization is not a choice, but has become a necessity. A multitude of businesses has already adopted digital processes. However, many are preparing themselves to embrace this ongoing demand of the business by taking help from the motivational coach for entrepreneurs.

But with all its benefits, it is very essential to follow a few key strategies to ensure that your business sustains in this digital era:

1. Create an unforgettable Brand Image

From “Thanda Matlab coca-cola” to “daag ache hain”, a powerful brand image is required for businesses to increase their product sales. Great products and amazing visuals go hand in hand. Great visual imagery can play a crucial role in the success of a business. When we talk about visuals, minute details like symbols and colors, and how you display your products online play a crucial role.

Most businesses pay a great deal to produce an excellent range of products without giving a thought to visual depiction. The online space has cut-throat competition and one of the best ways to give a leap to your business is by investing in quality visuals. Working on your brand image from the start is the best way to create a connection with customers.

2. Adopt a Flexible Pricing Strategy

Any business depends on how the products are priced. If you price your products at a loss or a very less margin, it will be very difficult for you to grow and scale. This is why product pricing is one of the trickiest aspects of a business. With so many options, entrepreneurs often find it difficult to finalize the correct price point keeping customers in the center, while also maintaining brand differentiation.

If you are new to the business world, there are many business coaching programs that you can take to gain in-depth knowledge about the various dynamics of the business world.

3. Minimize Cash on Delivery Failures

Every startup business that starts operating online needs to build trust at the initial stage. Until the customers have built their trust with the brand, cash on delivery is almost inevitable. But it can cost businesses. When a customer returns a product, businesses have to bear the shipping charges- twice.

Verifying orders, limiting payment methods, and incentivizing your audience with discounts with online payment methods will create trust and help you reduce unnecessary spending. Try to optimize payment and order tracking, in the beginning, to avoid any complications in operations later on.

4. Go Slow & Steady

As an entrepreneur, it is not just important to visualize an idea, but also to execute it and keep improvising. The best way to ensure that your business grows consistently, start small. Don`t try to tick all the boxes in one go. Your idea of business will go through multiple stages of trial and error before it comes to flourishing.

So the first step is to test it. Observe and study how your product is getting received by a small section of your audience, before going all out. In an environment that is constantly on change, it is best to refine offering as much as possible.

5. Understand Advertisement & Promotions

The world of advertising is quite difficult to understand completely. However, it plays a key role in introducing a business to the audience. In this age of the internet, digital ads and posts are everything. There are many online courses for entrepreneurs that allow you to pick the best course for your business. So, focusing on social media is something that can help your business to sustain itself in the long run.

The above-mentioned key strategies will help your business to stay upgraded with the latest trend and innovative possibilities. Instead of doing everything on your own, outsource them. Look for trusted people that can cover tasks for you and focus your attention on tasks that need your focus.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

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Startup

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!
7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

According to a report in the Times of India, “India is home to 81 unicorns as of now, with a total valuation of $274 billion.” With so many startups joining the league of Unicorns, it has become essential for the existing ones to focus on their branding and marketing game.

Branding and marketing are those two pillars in an organization that help a business to reach out to its potential customers. But as there are so many marketing avenues, small startup businesses often face the challenge to determine where they should invest their limited marketing resources.

Startups often lack clarity at early stages on how much time, money, and effort they should spend on their advertising, public relations, branding, social media planning, and content strategy at the outset.

So, if you have a startup business made from your dreams, passion, and determination, here is a list of some of the most effective strategies to help entrepreneurs and founders to develop first-time marketing budgets to optimize their investments and achieve maximum results:

1. Master One Method First

Just like when we learn driving, we want to do everything at once. But, as the primary rule, we learn to control the steering wheel. Similarly, as an entrepreneur, you should pick one thing and do it well. Once you have mastered it you can start focusing on building out the other options as you begin to get more business. Focus all your efforts, time, and money on a single method and use that as your power to get more business and break through the noise.

2. Pick Measurable Outcomes

When looking out for the best marketing choices, it is best to find out what you want for your measurable outcomes to be. For instance, if you want to sell 200 products in your first month, with an average value of INR 500 per customer, you should provide this to a marketing company to receive quotes on actions, and not just marketing services. It will help them to filter out the options deemed best for your business on actual budget samples.

3. Allot a Budget to a Few Targeted Areas

It will be unrealistic for any business to allot a budget without considering their revenue. A new startup must need to consider its targeted areas and how much budget should be allocated. It is best to focus on one target area and then grow into others as traction is gained. You can also take an online business course for entrepreneurs to learn more about marketing and advertisement.

4. Find Out How Each Strategy Will Impact Your Business

While budget allocation initially is a smart decision, understanding how each strategy is going to impact your business is paramount. Dedicating between 10 to 20 percent of gross revenue is a good starting point to invest in marketing and advertisement. Basics such as collaterals should not go beyond 5% of your gross revenue unless a brand strategy calls for it. PRs, advertising, communications are all similar. But to determine what will help your business to grow and attract your potential customers is essential. Focus on what is going to help you succeed.

5. Build a Scalable & Multi-Year Strategy

In the first year, you need a logo, a website, and some basic branding elements. But one most essential thing is content. You need great content for any marketing strategy to work. And as your company grows, you can spend more on advertising and promotions. When your company begins to scale, you can increase your budget.

6. Know Your Customer Journey

One of the most crucial things that every startup must do is that they should have a solid understanding of their customer journey. Run test ads on social media platforms and Google to find out how much you will have to spend to acquire a customer. You can also take an online course for entrepreneurs for marketing.

Investing in PR and branding can help you to lower your ad expenditure, only if done right. It will also increase your conversions, and give you a better idea of how much you must invest and in which medium of marketing.

7. Begin with Organic Marketing

There is no magic formula or shortcut to marketing your brand and advertising your products to increase your revenue. Startups should always begin with organic efforts, such as content marketing, PR, SEO, before diving into big ad spending. Why? It offers three benefits:

a).  It reduces your budget

b). It lets you find out what works by trial and error before investing in advertising.

c). Delivers ROI

Every single penny plays an essential role in a startup budget. Hence, it is important to allocate the budget carefully for marketing and advertising. Hope the above-mentioned techniques will help you to seek out choices that will give you the best results for your startup business.

Having a compelling marketing idea is great. But you know what is even better? Personal guidance to increase your brand presence consistently to facilitate sales, engage your customers and close leads. Our Problem Solving Courses can help you to overcome marketing and advertising challenges.

Categories
Business motivation

5 Key Reasons Your Business Should Use Google AdWords

5 Key Reasons Your Business Should Use Google AdWords
5 Key Reasons Your Business Should Use Google AdWords

Once Google launched its Self-Service Advertising Program’ back in October 2000, the online marketing game was changed forever. Decades later, Google was making whopping million-dollar revenue from it. And before we knew it, it became a vital part of many successful online businesses. Today, we know this as Google AdWords.

What is Google AdWords?

For those who are not familiar with AdWords, it is a pay-per-click service that allows you to create and run ads for your business. These ads are then displayed in the search results when a user types a specific keyword related to the product or service he is looking for.

If you are using the right keyword, you are already ahead of your competitors because you are reaching your target audiences who have an interest in your product and service. If you have a business website, it can be beneficial for you. Optimizing your Google Ads and website can lead to an increased Return on Investment (ROI).

Here are five main reasons why your business should use AdWords:

1. Progress is Measurable

Let`s suppose, you give an advertisement by following the traditional method of marketing of putting your product out there on a billboard. How will you measure the success of that advertisement? Can you calculate the number of customers who purchased your product after watching that ad at a bus stop? The answer is no.

But one of the advantages that online marketing has over traditional methods is that its results are easily measurable. AdWords is probably one of the best resources you can have to measure what is working and what is not working in your favor. As it comes equipped with plenty of PPC metrics, you can see what you must repeat and what you must not do again.

2. AdWords is Flexible

Another benefit of using AdWords is that it is flexible. It offers customizable options for your campaign to suit your particular requirements. It offers various features like:

  1. Keyword Match- This feature allows you to display your ad for specific keywords that users search. So you can set it to “Banarsi Saree Delhi” instead of a general search like “Banarsi Saree”.
  2. Ad Extensions– By using this feature you can display your product information, contact details, and a pack of links to your business website.
  3. Buyer`s Persona– This feature helps you to narrow down your audience. You can discover their geographical location, time of the day, their language, and which browser or device they are using.
  4. Support of Other Sites- With AdWords, you also get access to other non-search sites like- Gmail, YouTube, and lots of other partner sites at your fingertips.

3. AdWords Works Faster than SEO

When it comes to SEO, you may get great results but it is a time-consuming process. However, this is not the case with AdWords. Once you create an advertisement and the campaign goes live, ads will appear and you will get instant results.

Thanks to its speed, you can discover how effective your keywords are and how much impact they have on your target audience. You can use those keywords later in your SEO campaign to make it more effective. Where SEO plays a crucial role in your online success, PPC will get you to the top of the search results in minutes.

4. AdWords are More Engaging

More engaging ads mean more revenue! And as Google generates revenue from advertisement, it constantly improves AdWords. And along its way to improve one of its primary sources of income, Google notices that product listing ads and in-video ads on YouTube get more clicks. YouTube has over 1 billion unique visitors a month as well as several billion views a day. It comes second to Google when it comes to search engines.

More engaging ads mean more revenue for Google, advertisers as well as your own business. So why wouldn’t you want your business to be seen by your potential customers?

5. You can Set Advertisement Budget

Here is another thing that makes Google AdWords amazing! You can set a maximum cost per day for your campaign. So how does it help your business? It gives you an idea and allows you to decide how much you are willing to spend on a particular advertisement. You don`t have to worry about going over budget. You can reduce your budget or increase it accordingly.

So, if you are looking to scale your business and increase revenue, Google AdWords can be your best bet! However, if you are new to this concept, you can attend our free Masterclass by Devna Maheshwari only on our Bada Business Community App!

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