Tag: Startup Growth

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Startup

5 Ways Digital Marketing Helps Startup in Business Growth

5 Ways Digital Marketing Helps Startup in Business Growth
5 Ways Digital Marketing Helps Startup in Business Growth

Internet today has become an indispensable tool for almost any consumer who has to make a purchasing decision. According to a report by Forbes, people are spending time online more than ever before, and internet usage is increased by 50-70 percent. They use the internet for three hours on average for communication, research, entertainment, and information.

The data above indicates that business owners today must focus on connecting with their consumers digitally. Even if you are not selling any products or services online, your target audience is present on the internet and looking for the products you are selling.

Given the pace at which the market technology is changing, small business owners need to update themselves with go-to-market strategies.

Everyone has realized the power of digitalization in the crisis, from large organizations to small companies. The adoption of digitalization will be the key to unlocking a brighter future and many entrepreneurs are now working with the best business coaches in India to build strategies aligning with their company’s goals.

This is why Digital Marketing is defined as the future of marketing. You can learn how to do digital marketing without burning a hole in your pocket efficiently!

But First, Let’s talk about Digital Marketing.

The concept of marketing has always been about connecting with your audience and meeting them at the right place and at the right time. Digitalizing everything means connecting with your audience and building a solid customer relationship where they are already spending maximum time- on the internet.

Any marketing tactic that uses electronic devices to promote their business services or products on the internet is called Digital Marketing. Businesses use digital channels such as search engines, email, social media platforms, and other websites to connect with existing and potential customers. Many small companies also take assistance from a business coach for entrepreneurs to leverage the power of digital marketing.

What makes digital marketing crucial for startup growth?

When you purchase an advertisement on a billboard or physical newspaper, you reach a limited number of subscribers. It is distinct from the traditional marketing methods and targets potential buyers. It is more cost-effective than conventional advertising methods and enables you to measure daily success.

If you are an entrepreneur, here are the top five ways how innovative use of digital marketing can help you in business growth:

1. Reach Your Target Audience @Minimum Investment

As we have mentioned above, picking traditional advertising methods like billboards, magazines, or TV does not guarantee to hit your target audience. Also, the conventional techniques give little control over who sees your ad. Though you can measure demographics like viewership, readership, or population in a particular area, it is still a shot in the dark.

Digital marketing allows you to identify and target a particular audience interested in purchasing your products or services. It also lets you send personalized, customized, high-converting marketing messages as it allows you to research and identify your buyer`s persona. Implementing these strategies by working with a good business trainer is easy.

2. Helps You Achieve More Results with Minimum Investment

With digital marketing, you can track campaigns in real-time and collect data to analyze what works and does not work with your target audience. It can also give you complete control over where you spend your money and of what amount.

Work in a small company or have a small business with a limited budget for advertising. You can try investing in blogging, social media, or SEO that can guarantee high ROI even with minimal spending. It is a beautiful way to build your online presence. You can also work with a business coach for entrepreneurs to make powerful marketing strategies.

3. Helps You Understand Your Competitors Better

Small business owners or entrepreneurs can use digital marketing to stay ahead of their competitors even if they do not have millions of dollars to spend on advertising. With effective digital marketing strategies like content marketing, SEO, and social media, small brands can create awareness and strong brand identity. Search engines do not care which brand is the biggest and work on a simple algorithm.

4. Lead Generation

One of the primary reasons behind advertising and marketing is lead generation. Though many advocate that traditional methods generate more leads, there is no way you can measure it. Media buyers may say that people saw your commercial, but how do you prove it?

A digital ad allows you to create an ad, track its engagement, and generate leads. The digital ad tells you how many people got engaged with your ad and enables you to add them to your email and phone lists. You can contact them to qualify the lead, which is critical for converting a lead to a sale. If you are working with a good business mentor, they can help you develop robust strategies for lead generation.

5. Stay Connected with Your Customers

“Out of sight is out of mind,” which is why it is essential for brands to stay connected with their customers, especially after they have done business. Social media platforms give a golden chance to every business to engage and build relationships with their customers.

Digital Marketing has the power to turn the tables around for startups if used strategically. We hope the above reasons will encourage you to actively and strategically incorporate digital marketing.

The idea of managing a business is more straightforward said than done, and we 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 with Foundation courses. These specialized courses focus on business challenges like Digital Marketing and value-added approaches.

To know more, visit: www.badabusiness.com

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Startup

3 Start-up Challenges Every Entrepreneur Must Overcome

Startup-challenges

From a handful of tech companies to thousands of new ventures, India`s start-up ecosystem has come a long way in the past decade.

According to the report published by NASSCOM, ‘India ranks 3rd globally, with more than 4,200 start-ups, creating more than 80,000 jobs’. The Indian start-up ecosystem remained stable in 2018 and 2019 in terms of funding and investor interest.

Though the global pandemic changed the entire game completely in 2020, by 2025, the number of startups is expected to cross 100K. More than 3.25 million job opportunities will be created in the market.

Although the idea of having a start-up business sounds appealing, entrepreneurs face many challenges in today`s world. However, overcoming these challenges can provide creative solutions to operate the business successfully.

Here is a list of startup challenges that every entrepreneur faces and must overcome in India:

Cash-Flow Management

Getting funds for your business is one of the major startup challenges that every entrepreneur faces. Finding the right amount and kind of investment in a fresh new sector is difficult in the early stages of a start-up.

Steady cash-flow is essential for the survival of the business, thus you always need to have extra funds to take care of the rainy days. Proper planning and financial plan are critical for the survival of the business. Hence, always ensure you have a well-prepared strategy ahead of time.

Marketing Strategy

One of the biggest startup challenges in India is the absence of a good marketing strategy. Many entrepreneurs think their business can thrive on word-of-mouth. However, the truth is far from a cry. If you want to expand your customer reach, you will have to find creative ways to do that.

Thanks to multiple social media platforms, there are ample opportunities to find the right audience even with minimum investment. Shifting your business from offline to online will improve your brand`s presence and increase your customer base.

Lack of Right Guidance

One wrong turn can take you away from your destination. Thus, the right guidance from the right person can do wonders for your business. The right mentor can prepare entrepreneurs for future challenges and can help them navigate through their experiences.

Though business networking can add up to the contact list, people who have experienced failures on the same journey would always add value.

These startup challenges are faced by almost every entrepreneur in the early stages of the business. But with the right guidance, you can take your business in the right direction.

You can learn to overcome these challenges with industry experts. Discover their Secret Mantra with the help of 600 business templates, checklists, and tools to run your business efficiently. Our Problem Solving Courses can help you overcome any business challenge. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads to know more.

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Business motivation

5 Steps You Can Take to Get Your Business Off the Ground

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, November 17: Starting a business can be a daunting task and more so amid the coronavirus outbreak. There are several things which one needs to take care of, from the right idea to proper marketing, everything needs to fall in place for a business to take off.

The process of starting a business is always filled with challenges. Therefore, it is very important that you should be prepared before you take the final leap. The success of a business is never guaranteed, but there are few changes which you can do to reduce the risks and improve the chances of your business in being successful.

We have curated a list of 5 steps which you need to take before you get your business off the ground:

1. Think of a unique and a great idea: Think of a unique idea for your business and ask yourself how will my product be different from thousands of products which have already cluttered the market. Try to offer the customers something which they haven’t experienced before. Also, the product should solve the customer’s problem and then only will they be able to relate with your product.

2. Define your business: This is another critical step. Before you start a business, it is very important to understand how much time (and money) you’re willing to devote to your new venture. Also, a few other questions which you need to answer is that will you have a brick and mortar store or only have an online presence.

3. Study the market & competition: Do extensive study before launching a product in the market. Try to understand if there is a demand for your product. Never underestimate your competition. Always learn from their strength and also be aware of their weakness and understand the space where your product will be able to enter.

4. Check your finances: It is very important to track your finances from the get-go. Spend wisely and only on things that are required. Every business takes time to start off. The initial few days to a year might be full of struggles, so save your finances for tough times ahead. Keep an eye on your finances, so that midway, you don’t have to wind up your business and exit the market.

5. Keep Your Plan B Ready: Always keep a plan B ready before you start your business. One can never predict the challenges which can crop up and pose a hurdle in the path of growth. For e.g. no one could predict that coronavirus could get the world to a grinding halt. Several businesses shut due to the lockdown and thousands were left jobless. However, the ones which had a plan B ready could sail through the crisis period.

We hope that these steps will come in handy when you are thinking to get the business off the ground.

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Startup Strategy

Startup Growth Strategy: Follow These 4 Steps to Sustain in the Competitive Market

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, October 20: Starting a company is not an easy task and one of the most important things is a strategy. You need to have a robust strategy in place for your startup to grow.

It is a very difficult and competitive space for a new company to establish itself. According to a report on the Entrepreneur, 50 percent of the startups fail every year and only a few manage to survive for more than five years. The ones who succeed for a longer time in the market can do so by creating a startup growth strategy.

Check Startup strategies shared by Dr Vivek Bindra: 

Today, we will talk about 4 steps to develop your startup growth strategy: 

Create your vision statement

When you are starting, create a vision statement where you would like to see your company in the future. Dream big, aim big but is also very important to remember that there are various restrictions in the form of budget and other resources, unlike a big company. But, if the focus is right, you will soon be able to achieve it.

Own your strengths and weaknesses

Identifying your strengths and accepting your weakness will help you to sustain in the market for long.

Determine your positioning in the market:

You must have an understanding of your business. You must know, what sets you apart from your competitors.

Keep a check on your competitors: 

In the age of digital media, a consumer is bombarded with numerous information from various sources. Very few manage to stick on to the mind. Therefore, it is very important to check on your competition and never underestimate them.

These strategies will help you to increase sales of existing products or services on existing markets, and thus will help in increasing your market share. They will also create a strong brand recall.

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Startup

Starting Up a Business: 5 Things Young Entrepreneurs Should Know to Make Their Business a Success

Entrepreneur (Photo Credits: Unsplash)

It might seem hard to start to a business, but when the entrepreneurial project gets going, the brain behind it rejoices. However, in order to make your business a success, there are several things that you need to consider before you start your business. Young entrepreneur venturing into a new business, keep looking for ways and means to help them achieve their goals. Young entrepreneurs are at an age where they need a platform to prove their caliber. They want to run something of their own, create more job opportunities and be a part of the growing India.

Here Are 5 Things That Young Entrepreneurs Ought to Keep in Mind:

  1. Know your product: The first important thing before starting any business is that the entrepreneur should know in and out about his product. He should first, himself, know what is product is all about, how well he can pitch about it in the market, what is the demand of the product, and so many other related questions. A young individual will always know what is in trend and things that work in a market.
  2. Know your market: Understand who your target audience is! Before starting up a business, a young entrepreneur should very well understand what the need of the hour. Of course, there are other competitors in the market, so a beginner should consider all the risk factors before venturing into something new.
  3. Do what you love: Take your time and understand what you love. Let your passion be the driver for your product or service, which will always keep you motivated and get you going through the tough times. Before starting up a business, one should think with a calm mind as to what one loves because when you work on something that you actually care and love, you’ll probably be happy and make the idea a reality.
  4. Find a mentor: No matter how intelligent you are, you may falter! Hence, it becomes really important to find a mentor who can guide you and let you know when you go wrong. Find someone who can open your mind and share your ideas with. Surely, your ideas will be shaped in a better manner which will be easier for execution.
  5. Perseverance and Patience: The most important trait of any businessman is perseverance and patience. These 2 Ps go hand-in-hand and help people to get better and win laurels in their work. Once you have thought about an idea, don’t give up and work on it until you make it a success. For young entrepreneur, it is an added advantage that they have time, even if Plan A doesn’t work, then be ready with Plan B. There might be rough moments in your entrepreneurial journey but you have to keep working towards your goal.