Category: Marketing

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Marketing

3 Multi-Level Marketing Strategies to Evaluate Your Business

Marketing Strategies

Introduction

  • Are you unable to evaluate your performance?
  • Do know the organizational effectiveness of your company?

A business doesn’t run by creating hullabaloo in the market. It works on proper frameworks and efficient strategies of execution.

The following given tools will help you understand 3 multi-level marketing strategies to evaluate your product, competence and organization’s performance before jumping into a big breakthrough.

1. Product Evaluation

Product evaluation is the first and foremost multi-level marketing strategy to analyze the quality of the product you are planning to launch.

Need and urgency of the product: Many times when any businessman launches a product which has a big margin, but not a big need, while some times their product has the need but their market size is very small.

Until your product is not unique enough to attract customers it is not going to increase your sales in the market. Try to understand the need and urgency of your product in the market.

For Example:
Many MLM companies without understanding market size start selling software and end up being bankrupt, as the software has no need among common customers.

Identify the uniqueness of the envisioned product: You have to make sure that your product is not similar to products already available in the market at a low price. You need to work on the uniqueness of your product, which does not exist in the market.

Repurchase: If a product does not have repurchase value in the market, it will affect your recurring revenue.
If a merchant is selling a product that is not needed by the customer repeatedly in a frequent interval, then your recurring revenue will fluctuate drastically.

For Example:
A merchant selling suit length in India will not have repurchase value as it is not a product that customers need frequently.

All global giants work on Problem Solving Product, the product which solves the burning problem of their customers

If you manufacture a burning problem-solving product, then your product will automatically be repurchased without investing in branding.

Big digital brands like Tesla, Facebook, Apple, IBM, Alibaba, Amazon, work on problem-solving products, hence they hardly need to advertise their product.
Thus, if you don’t evaluate your product properly before launching, then it will be time-consuming, expensive and disruptive for your business.

2. Competence Evaluation
Personal Effectiveness: You should have the strength to deal with failure, negative market feedback, and customer’s backlash. You should have conviction and enthusiasm to work day and night towards the success of your business.

Inter-Personal effectiveness: You need to develop a capability to influence others through interpersonal communication, which helps you handle adverse situations while dealing with people in big size projects.

Organizational effectiveness: Organizational effectiveness is your ability to influence people working with you at the senior and junior levels. This is the most essential quality a leader needs to have to run any organization. The scriptures also said about organizational effectiveness for a leader.

According to the Bhagavad Gita 3.21:
yad yad acarati sresthas
tat tad evetaro janah
sa yat pramanam kurute
lokas tad anuvartate

The above shloka in Bhagavad Gita proclaims, “Whatever action is performed by a great man, common men follow in his footsteps. And whatever standards he sets by exemplary acts, all the world pursues.”

In an organization, a subordinate follows what his leader does, but if a leader only says and doesn’t act, so will do subordinators.

3. Performance Evaluation
You can prepare a worksheet strategy to record and analyze your organization’s performance through below given 5 performance evaluation methods:

The next most important step is performance evaluation. Now you have to analyze your organization’s overall performance on the basis of effort score and result score.

Another most important multi-level marketing strategy is competency evaluation. You need to evaluate your competence to run a business on the below-given parameters:

i. No. of calls made daily
ii. No. of meetings done daily
iii. Repurchase daily
iv. No. of hiring/joining – weekly
v. No. of programs and meetings organized as an up line- monthly

On the basis of these 5 steps, write down your score on the worksheet on a regular basis and analyze your effort and result score.

Evaluate your performance on the basis of events & meetings you conduct for the organization’s effectiveness, product training, motivational training, behavioral training, technical training, soft skill training, and skill / will training for employees.

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Marketing

Importance of Online reputation management (ORM)

Win Customers through Online Reputation Management (ORM)

Online reputation management (ORM) is an important function to manage your brand or company’s profile online and on social media. Basically ORM helps to improve and monitor your digital presence. It analyzes your potential customers and what information will they get about your product or brand whenever they use Google search or social media.

With the growing popularity of third party reviews on websites, social media, and other online platforms, strong online reputation management is important for your business.

The online world has become a powerful platform for people out there to share and express their feelings and that is why companies need to be proactive and reactive to manage their online presence.

The concept of online reputation management 

ONLINE REPUTATION MANAGEMENT plays an important role in reducing the number of negative reviews about your company/product. Through the concept of ORM, a brand can insert new and relevant content that pushes away the unwanted content down in the search ranking. In some ways it also impacts the company’s bottom line and customer loyalty. An effective online reputation management strategy provides you with new opportunities and insights on increasing brand awareness and the love for it. It helps you build upon your existing customer base online along with attracting new customers on to your social media profiles.

Why ONLINE REPUTATION MANAGEMENT is important for your business

  • Business is all about building an image and improving it every day. It is important to make sure your brand is interesting and fascinating to attract new customers.
  • Before buying anything online, customers look for reviews online to know the brand, product, and its functioning. The preference of your customers largely depends on the search results.
  • Anyone can give reviews online, even your competitors can write negative reviews to spoil your reputation online. Online reputation management helps you to overcome all this.
  • With the help of ORM you can eliminate the negative content that is untrue; this helps in painting the right picture in front of the customer.
  • Online reputation management helps you improve the reviews and feedback about your brand and create a positive brand image. Customers usually pay more attention to a brand that has a positive feedback and reviews online. This helps to generate sales as well.
  • Online reputation management boosts the search engine optimization of your company.

A survey indicates that there are 90% of customers who read online reviews before purchasing anything, therefore ORM becomes paramount today.

How to check your reputation online? 

Before taking any steps, you need to analyze the online presence of your company. You can check your online reputation with the help of this checklist:-

  • Search your company or product name online and look at the top listing. Can you find your company or product name in the top 5 listings? If not then you have to improve your search ranking. You have to make sure that your company has a positive impression on Google or any other search panel.
  • Check if the information provided about your company or product is correct on Google search. For better visibility, you can list your company on Google my business account.\
  • Keep an eye on all your social media accounts. When was the last post you have posted? How many followers do you have? What kind of engagement you are building?
  • Do your posts represent your brand or not?
  • Look at the average response time of your followers.
  • Keep an eye on your Facebook and Google feedbacks & reviews. Check how many new followers you have made on these accounts.  Make sure you respond to each feedback and review.
  • If there is a complaint that has come up on any of your social media handles, address it first.

What makes online reputation management an integral part of your digital promoting strategy? 

Brands need to watch, evaluate and improve their product’s perception in the minds of the consumer by keeping a note of the below-mentioned parameters.

  • Improvement in the site’s ranking
  • Ratings
  • Search profiles.
  • Better brand acknowledgment via Social media, third-party review sites, web journals, and blogs.
  • Presence of improved Social media
  • More followers
  • Conversions through social media

This is one of the key reasons why modern organizations consider ORM an important fundamental for their business.

Let’s discuss four particular digital marketing channels associated with ORM

Let’s understand the PESO model:

1. Paid: The channel in which cash is paid to put the messaging out, and control its appropriation.

2. Earned: The distributed inclusion of an undertaking or an individual’s message by an effective third-party, for example, a writer, blogger, exchange analyst or an industry influencer.

3. Shared or social media: The go along sharing and remarking upon your message by the network through social channels.

4. Owned: The messages you compose, distribute, and control through your own, committed blog or other channels.

Paid Media 

Paid media incorporates all advertising endeavors that require payment to highlight your business on outside websites and networks. This incorporates PPC advertisement with Google Ad Words, show advertisements on Facebook, and supported posts on industry/influencer web journals and blogs. Paid media expands your range and directs people to your web properties by building new associations with accomplices and clients.

Earned Media 

Earned media portrays the presence of your business on external web elements for which you didn’t pay. It expects you to stand apart from your competition with extraordinary content, service, or products that customers also think is worth sharing, reviewing, referencing, and reposting.

Social Media

Pages and profiles on social media are “an augmentation of your image and make additional avenues for individuals to the interface”.  When it comes to social properties, it’s critical to dedicate the assets and resources to remain active on them by participating in discussions and distributing new content consistently. Video content, interesting contests, and tying up with Micro-Influencers can help boost your visibility, reach and engagement levels.

Owned Properties 

Your business sites and online journals are properties owned by you, which implies you have full power over them. Obviously, the more properties you own, the higher your odds to successfully formulate your digital marketing presence.

Online reputation management requires regular monitoring; it is not a one-day activity. Online reputation management will help your business in the long term if you keep an eye on your activities and the activities done by your competitors.

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Marketing

Tips to Network Remotely During The Corona Downturn

How to keep Networking with social distancing! 

If you are one of those outgoing types who loved to network and grow their professional web face to face, don’t lose heart! Even though physical networking has been halted because of the Coronavirus outbreak, there are many ways and means to still get going.  

Be proactive in finding ways to build an online network with the help of emails, social media, webinars, and online group chats. This way you will stay on top of mind and explore new information.

Leverage the power of technology and you will find that in-person meetings are not required to develop and build relationships. Although we’re all practicing social distancing because of the Corona outbreak, here’s how you can maintain and grow your network while in quarantine.

Remember networking remotely is not difficult at all. You can still have your connections at a safe distance. 

    

Start by updating your LinkedIn profile:-

  1. Suppose you have not taken time out to make the most of LinkedIn, this is the best opportunity to update your profile and connect with people. 
  2. You can always ask your connections for recommendations.
  3. Stay connected to people who are from your industry.
  4. Join new groups you are interested in. Many groups and communities offer a high degree of interaction with forums, podcasts, training, offline events, etc. Take an active part in these communities; don’t just go to the sites.
  5. Work on your existing networks. Share unique content and posts that interest them. Start a conversation with your existing network and tell them about your work.
  6. If you are a business owner then connect with your clients to share updates and ask how you can support them even if they are not in a position to engage your services.
  7. You can stay connected with varied professionals and can get informed about the new stuff happening around the world.
  8. Smartly share your company, services or product details on LinkedIn. The point is to be as visible as you can.

Use Facebook and Twitter for professional networking

  1. Participate in Facebook and Twitter groups to grow your professional network.
  2. Facebook and Twitter allow you to connect, discuss, and network with each other with a common interest and topic.
  3. Start making videos to promote your business and build your brand. Make sure your video must be trendy and should have unique content.
  4. Post relevant updates, product knowledge and awareness about the service/product.
  5. Start doing surveys to know your target audience and their interest.
  6. Advertise on your platform; banners, sponsored posts, stories, go live with your service/product, brand mentions.
  7. Follow other companies of your interest and get updates.
  8. Focus on the right people. You need to concentrate on people who will be able to make a difference to your business or career.
  9. Find out some time during the day to contact clients/people you haven’t recently kept in touch with.
  10. Ask your clients, how they’re managing? Make sure that it is not a sales call, it is a goodwill call. They will remember it later.
  11. Try to take a daily break from work to send short notes to former colleagues and other contacts and let them know that you are thinking about them. It is friendly gestures like these that will help you keep you in touch with them.

Other ways to communicate online

  1. Blogging and email newsletters can complement your online networking.
  2. Both can also be time-consuming, as to remain current the material must be updated regularly in the minds of your audience.
  3. The Blog offers the audience a platform to get to know you better but it only works when your target audience spends the required amount of time to read it.
  4. It equally applies to online newsletters too.
  5. Fill the gap in between you and your audience and let them know about your products or services, build your brand, alert them about the latest updates & happenings in your company.
  6. Online Networking with a newsletter can help you engage with your target audience and generate support and interest.

Always remember that social media can be a very powerful tool to build Online Networks. It can also raise awareness and branding with regards to your business amongst the community if done properly. 

Be proactive in finding ways and utilize social media for Online Networking while maintaining social distancing during the outbreak.

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Marketing

Maximizing Marketing Effectiveness With a Small Team

Generating revenues is the main objective of every business. Revenues will come with continuous sales of goods or services. It’s no easy feat to continuously generate great revenues in this competitive business environment. Here marketing and promotion play an important role for a company. An effective marketing strategy can help one achieve a competitive advantage and connect with the consumer.

Here are some of the Best Marketing Strategies which every business should follow, and can be executed with a small team: –

1. Finding the right TG (Target Group)
 

Every business needs to find the right audience. The effectiveness of marketing strategy can only be analyzed by the processes used to identify the right targeted audience. Target customers could be of a specific demography- age group, particular geography or having particular buying patterns. If one fails to identify the right TG then all these Best Marketing Strategies applied to the wrong target group will be of no use.

2. Positioning

After finding the right audience, the next important step is how to fit your product or service within the selected group of people. People should know how the offered product or service is better than the one offered by competitors. This will be done by creating uniqueness in your offering. It could be in the form of a unique design, attractive pricing, freebies, after-sales service, product warranty, etc. 

You position your product in a way that it creates a space for itself in the market full of competition.

3. Communication

One of the Most Effective Marketing Strategies is clear communication with the target audience. After you create a differentiation between the product or service offered by you amidst competition, communication of the offering becomes crucial at this stage. All the product USPs and specifics about the offering must be communicated to the target group clearly. No company would be able to penetrate the market without effective communication.

Detailed product specifics, Videos, social media, high-quality content are a few of the major tools of communication.

            

4. Channel

TV Commercials is the best channel of communication for an Effective Marketing Strategy. Though TV Commercials are one of the expensive options which every business cannot afford to go with. As per the budget, one could opt for a mix of different channels like print media, Radio, Banners, Social media, etc. For a small business owner, social media marketing can prove to be an effective and cost-efficient medium. However if a business wants to advertise on TV, then you can start your plan with Local TV or cable TV advertising and then according to budgets take it National.

Wrong channel selection can seriously damage the Best Marketing Strategy plan.

5. Customer engagement

To check the effectiveness of a marketing strategy, a customer engagement plan must be put in place. This step confirms that all the communication is being received by the target group. One can share email newsletters, discount coupons on subsequent orders, contests on social media or devise customer loyalty programmes. Engagement could be in the form of scratch cards, online quizzes, social media games, etc. Engagement activity is essential for keeping your customers busy and connected with new developments in your brand. 

6. Review

Now, it’s time for a business to evaluate the results of these Best Marketing Strategies with their marketing plan. The objectives of the marketing plan should be clearly discussed before you devise a plan- whether it is attaining reach, awareness, lead generation or direct sales for the company. If there is a major difference in the expectation from the Market Strategy and the results one has achieved, a review of the whole strategy will help in understanding the gaps. Corrective measures can be implemented as per requirement.

An Effective Marketing Strategy is based on 2 simple principles- Objective or the goal and the final outcome. If one is not clear what they want to achieve, even by implementing the Best Marketing Strategy, all activities planned would not yield the desired result.

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Marketing

How to Design an Exhibition Stand for Your Business

How to Design an Exhibition Stand for Your Business
How to Design an Exhibition Stand for Your Business

The perfect ways to design an exhibition stand for business

It is very important to represent and present your business at events. To attract the interest and attention of the target audience and customers towards your brand, your presentation at business events matters a lot. Through your exhibition stand design, you can create a long-lasting and strong impression on your potential customers at such trade shows.

The first impression is very important when it comes to attracting audiences. There is no point in having a good service or a quality product if you are not able to catch the eyes of your target customers.

Here are a few ideas to plan the perfect exhibition stand design for your business that you must implement:

1. Define the goal of your exhibition

First of all, you need to analyze the purpose of participating in the exhibition or a trade show. Before designing the exhibition stand, set a clear goal of what you want from the design. Make sure your exhibition stand design communicates the message to your customers. Include your brand image and values to design the exhibition stand. Think about the product, value proposition and the imagery associated with your organization.

2. Design the stand for your audience

Always remember that you are exhibiting for your audiences. You should research your target audience thoroughly before taking part in any exhibition. You should always focus on the taste and needs of your target audience and build an exhibition stand design on those criteria. Define your target audience and their needs before you get onto the planning stage of designing your exhibition stand.

3. Maximize your space

A perfect dimension makes the exhibition stand design more attractive. Always try to take full advantage of the space when you design your exhibition stand. Do check the dimensions of the space given to you by the event organizers. The height and place of the stand on the floor is an essential part of your design. Make sure your signage and logo are visible to your audience. Try not to have any physical barriers in front of your exhibition stand.

4. Message on your exhibition stand

People walk by many messages in a trade show or an event and they don’t have the time and energy to read all of them, so you have to make sure that your message should be crisp and short to understand and grasp. Your message must have the ability to catch the eye of your audience. Try not to use long sentences; be creative and concise so that it can grab the attention of your audience. Your message needs to be clear with a large font size to make sure it is readable.

5. Graphics and images

A perfect image for your exhibition stand design is more impressive than using an entire phrase. A good image or graphic can help in conveying a complex message easily. Try to resume your brand values in one powerful graphic or image. Just keep your customers in mind and analyze what they like to respond to.

The placement of your image is also very important. Make sure the image or graphic of your stand can be seen from a distance and should be clear and attractive to grab the attention. The message should be transmitted in a smart, creative, and innovative style.

6. Tech-up your exhibition stands design

You can always consider modern technology that goes with the exhibition environment to attract the audience; this will also give pop and modern look to your exhibition stand. You can use digital signage in front of your space or a touch screen exhibition stand to make people aware of your brand.

Implementation of technology can help you attract more public but also inform your audience about your product in a unique way.
7. Let your audience interact with your product or service

Now, this is the best chance to test your product and analyze how your target audience reacts towards using it. Try to focus on the real values that your brand can offer to the audience. Create a buzz around your product and services with the exhibition stand design. Take feedback and distribute gifts to the people who are showing interest in your product.

You can also have a one on one interaction with the people coming to your booth. Have a quiz play with your customers to make them discover the benefits of your brand and product.

By following and implementing the above-mentioned tips and designing techniques the exhibition stand can create a strong impression on your target audience. Design an exhibition stand that not only creates brand awareness but is helpful in attracting a good number of leads.

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Marketing

How to Calculate Goodwill For a Business

Know your Goodwill to Increase your Company’s Value

Goodwill is an important part of building your business and is one of the hardest things to calculate. Goodwill of a business is an intangible asset, hence calculating its value can be tricky depending on the business and its success. 

To understand Goodwill calculation, let us first know what is Goodwill?

Goodwill of a business is a premium or an additional payment that a business gets over and above the market value of its net assets. Some of the factors that decide the goodwill of your business are- 

  • Reputation
  • Brand Image/Identity
  • Loyal Customer Base
  • Talent in the company
  • Positive cash flow with limited debt
  • Growth Prospects

So how do we calculate Goodwill? Goodwill Calculation can be done by 2 simple methods mostly based on the income:

1. Goodwill Calculation using Average profits

This is one of the simplest methods to calculate goodwill of a business. The formula for this is:

  • Goodwill= Avg. Profits x No. of Years

For e.g.- In this method calculate your average profits for the last 5 years and multiply it by 5. Taking 4-5 years as a ’goodwill window’ for a company is safe enough as it takes that much time for a company to build its image

Make sure you are not calculating goodwill of a business based on years that have seen abnormal profits or losses.

2. The other method for Goodwill calculation is to compute the Market Valuation and subtract net assets from this figure

  • Goodwill = Market Value- Net Assets

Get the business valued by an external accounting professional, financial expert or a business broker

Net assets include everything of value owned by the company, including property, inventory, vehicles, etc., minus any debts like bank loans or bonds

However if the payment includes things like stocks or a percentage of ownership in the company, the formula for goodwill calculation then becomes a little complicated:

  • Goodwill = Consideration transferred + Amount of non-controlling interests + Fair value of previous equity interests – Net assets

Here Non-controlling assets refer to a certain percentage in the company which is not big enough to exercise any control

The methods mentioned above are the most common formulas of calculating goodwill of a business. Calculating goodwill becomes extremely important when one is looking to buy, sell, or bracing for a merger or acquisition of a business. However, it is always advisable to consult professionals before taking this decision. 

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Marketing

Improve your Business Through Content Marketing

How Digital Content Marketing can Increase your Revenue

Content Marketing for business is a thought out strategy that helps you to build relationships, engage, and communicate with the customer. No longer are the audiences interested in direct paid advertising. In fact, data shows that approximately 11% of the global internet population is blocking ads online. Content Marketing helps in brand recall and achieves your business objective through powerful content generation. Here are some strategies that talk about the importance of content marketing to boost your business.

1. Better Return on Less Spending

  • There is a lot of cost difference between inbound and outbound marketing. Outbound or traditional modes of advertising cost much more than inbound or content marketing tactics
  • For smaller businesses it makes a lot of sense to explore this as they don’t have big marketing budgets
  • Marketing in the form of e-mails, blogs, social media, viral campaigns can help you get great return on your investment

2. Improves Brand Reputation

  • The customer is no longer interested in advertising & marketing which aims at direct selling, they want their brands to engage with them and give them content that they like and can share
  • With digital and social media gaining precedence, it is vital for businesses to build trust so that more leads are generated and can be converted into buyers
  • Devise content that immediately builds an emotional connect. There are times when social media influencers also share your content and it can become viral in no time leading to new customers

3. Localize Content for Better Conversions

  • When your content is interesting and shareable, automatically it leads to newer business prospects and engagement with a larger set of audience
  • For e.g. Pepe Jeans took the route of content marketing for their business. They increased the frequency of their social media posts and also localized the content according to specific geographies. The brand saw a boost of 48% in its engagement on social media taking the followers to 2 million. This sort of growth is not possible with a paid advertising approach

4. Boosting your Organic SEO 

  • Search Engine Optimization is a tool that helps you increase your visibility online. When you apply relevant content marketing strategies, it helps improve your SEO techniques as well
  • The more content you have on your website or blogs, the more pages the search engine will be able to show to the users increasing traffic on your web page
  • Search engines also smartly can differentiate between content that is valuable and content that has been posted only for the sake of putting in the keywords. Implementation of content marketing can also lead to consumers spending more time on your portal or pages

5. Content Marketing can help achieve Business Growth

  • If your content is good and is liked by the audience, you can consistently generate leads for your business
  • Make sure the content is posted regularly, is reliable and is fed into the system at every stage of the buying cycle

The importance of Content Marketing is now being realized by both small and large businesses. They are using different formats to create value through content for the customers. Content marketing for business is also cost-effective, generates traffic and builds an image that can help your business grow.

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Marketing

How Blogging Can Help a Business Get More Customers

बिजनेस आइडिया

Content is King: Master the Art of Blogging to get more Customers

Getting customers to come to your blog and fall in love with your product requires time and effort but it is not an impossible task. Blogging for business is the new-age sensation that can help you get customers without much cost. This step-by-step guide will help you connect with consumers through blogging.

1. Don’t make the Blog a Sales Pitch

  • The objective of your blog is to generate business leads and project a profile that connects with the consumer
  • Advantages of blogging are that you can reach out to millions of people which is not possible using the conventional means of marketing
  • Do not use your blog to make sales, if you use the blog only for sales messages you will struggle to find readers
  • If you want people to come to your blog, make them understand what is in it for them. Become a mentor, give advice to your target consumers, build trust and help them achieve their goals

2. Develop Content that can become Viral
 

  • You need to create content that can be shared, is interesting and engaging so that traffic can be increased.
  • When blogging for business and creating viral content, make sure you start your blog with a catchy headline. 8/10 people click on the link that has an attractive headline
  • Get the length of your blog right- The blog should not be very small or too long- a 700-1000 word blog post can lead to a better conversion rate with more opportunities for SEO
  • Need an Out-of-the-box idea- Your idea needs to be new & innovative based on what the audience wants. This will help in making your content evergreen and likable
  • Short emotional videos or beautiful images can become hugely viral if it makes the viewer curious

3. Focus on the Opening and the Conclusion of the blog

  • After clicking on the headline when a viewer comes to your blog, the opening should hook him enough to go through the entire post
  • The opening paragraph should spell it out to the customer that the tips or steps in the remaining blog are going to change his life and will be beneficial for him
  • Close the blog on an inspirational note. Make sure your reader not only reads your advice but also encourage him/her to follow it so that the reader revisits the blog

4. Blog as often as possible
 

The advantages of blogging and that to frequent blogging are that more traffic will get generated. But make sure the quality and originality of the blog is not compromised. 

5. Include Call-to-Actions

Make it a point to include some kind of Call-to-Action in your post otherwise it is going to be a waste if you are looking to generate customers through this activity

6. SEO Optimization

  • Google is the undisputed king of generating organic traffic. One big advantage of blogging is that if you conform to the guidelines of Google you will get guaranteed traffic
  • Do your keyword research and create content that is SEO-friendly

7. Use Google Analytics

Sometimes you wonder why a particular post gets less traffic or why a specific offer’s conversions are low. When you are blogging for business, use Google analytics especially the behavior flow section to see how people react from one page to another.

8 Create an E-mail Follow up

  • E-mail allows you to build a connect with the reader and forces him to come back to your blog or keep in touch
  • When you send an e-mail once a week to the reader, you’re compelling them to visit you again and engage with you
  • Once readers understand the benefit of signing up, this will create an opportunity for you to sell

Blogging for business is not easy. You need to develop good content skills and understand the minds of the reader and potential clients. Once you know what the customer is struggling with, your blog post will hit a bull’s eye!

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Marketing

Importance of Lead Management Software in Business

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Power your Performance with a good Lead Management software
 

As the name suggests, Lead Management is a way of process set in the company to generate leads. It is a software-based system intended to build access to a new customer base.  

Good lead management software has the potential to impact revenue of a business directly by bringing sales and marketing together.

In today’s time and age, technology has given a whole new dimension to businesses. SMEs and MSMEs are always on a lookout to be more productive and grow their business efficiently.

Leads are potential customers who are interested in your business, services or products. Often it happens that despite showing interest, your potential customer doesn’t invest in buying your brand. Lead management software not only helps in tracking the leads but improves strategies of sales to get more and more customers into the system

Let us see the various benefits of a lead management software in business- 

1. Boosts Efficiency-
 

Every business wants to run its operations effectively and smoothly. Automation in marketing streamlines the sales experience. It automatically books an appointment, helps in online payments, sets reminders, and increases the engagement with the customers.

In this way, your interaction with the customer increases making them feel important and wanted

2. Improved customer relationship management-
 

Maintaining a lifelong relationship with the customer is very crucial for any business and customer service is undoubtedly one of the most important parameters for growth. 

The software helps in creating an online history of its customers, information of orders and communications or dealings with other companies.

The storage of bulk data at one place with the lead management software also becomes convenient.

3. Saves time-

Time management for any business is very significant. Especially for small businesses time is money. That is why it becomes important for business owners to monitor the daily work flow efficiently.

The software can help in the reduction of routine manual tasks since automation allows online tasks to take center stage. 

Investing in good lead management software helps business owners to unlock their time and allows them to focus on other important aspects of business to generate revenue.

4. Increases Scalability-

Another important benefit is that the software helps business scalability. 

Based on customer’s previous action and interests it helps in implementing the better sale strategies for the business.

It also supports in managing and enhancing the inflow and outflow of the leads.

5. Better SalesForce?-

It enhances the overall productivity and efficiency of an employee. For any given task which needs to be accomplished an employee just needs to make the following entries in the system- 

  • Basic information
  • Browsing history
  • Scheduled task
  • Contact history

It helps business owners to evaluate the workforce required to achieve a certain target.

This software also acts like a one-stop solution for cloud-based information which can be accessed from any part of the world.

6. Customization-

The lead management software offers the feature of customization as it is crucial to reach out to the right leads with the right product or service. 

This automated feature ensures that based on the need of a client a customized message is sent according to the profile of the customer.

It also engages with the customers by sending reminders, SMS or emails.

7. Increases Scope of Consumption-

The biggest advantage of the lead management software is that it increases the consumption scope of customers.

The automated software can help in increasing the purchase ticket size by suggesting a combo offer (if any) with every sale of goods. It can also recommend any perks attached to the minimum purchase order, any ongoing scheme etc.

All this, will eventually lead to the overall revenue generation in the business.

Lead management software is the backbone of the sales operation in any business. It assists in accountability, tracks potential leads and gives a personalized experience to your customer. The right kind of software used in the right direction can increase the overall ROI of the business.

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Marketing

7 Strategies For Getting More Business From Social Media

How Social Media can turn the Fortune for your Business
 

Social media platforms have enabled business owners to connect with their target audience and engage with quality leads making it very important to focus on social media for business. Social media helps you find people who are interested in your product and can become your customers for life if you engage with them in the manner they like. Here are 7 strategies that can make you a hit on social media. 

1. Modify the content according to your social media platform

  • The biggest mistake a business with social media does is to post the same content on all platforms. People want to see different content. For instance a story format will be best suited for Instagram, but for Facebook that might not work. Hence, customize your content according to the platform to drive your customers.
  • Try to add more emotional content that strikes a chord with the viewer as it is proven to have more effect on people. 

2. Tell stories rather selling your product

  • As you know that the social media platform is a powerful tool to make your product noticeable. Make sure that you have a story around the product you are selling as people on social media connect with stories.
  • People get curious about your product and brand when they see storytelling woven around it. Building a story that consumers can relate to and has a central theme around it helps your business for social media grow.

3. Experiment with the advertisement

  • Try experimenting with your promotional advertisements. Customers pay more attention when they see something different. Initially, you can test an experimental advertisement to see the reaction of your followers and improve it through their feedback.

4. Do tag your brand and influencers

  • To score good exposure, make sure you tag your brand and related influencers to get more followers. Post your content with hashtags # as they receive more attention and involve more people associated with it.
  • Influencer marketing has become popular among many social media platforms. Tactical tagging is important if you want to tap other audiences. Partnership with social media influencers is beneficial for both as the influencer gets to be associated with brands and gets paid for the same and the brand can expand their reach by tapping into the follower base of the influencer.

5. Listen to your customers and competitors

  • Pay attention to each feedback as their valuable feedback can help your product and business grow. Customers feel valued when they are asked to share their opinions and comments that can have a positive effect on the growth of your business and in turn also lead to a higher customer retention rate.
  • Keep an eye on your competitor’s activities; it will help you analyze the market and come up with better social media platform strategies.
  • You can also opt for digital tools to monitor the customer’s feedback and reviews. It will also help you to understand more about your audience profile and their viewing habits. Start paying attention to what is being said by the customer on your social media platform. This is the only place where the customers are the most honest. 

6. Organize Contests and Promotional Events

  • One of the most important tactics for networking on social media is to involve your target audiences in activities and contests. Create promotional events and prepare creative content to grab their attention.
  • Make sure to be creative while curating the contest. Everyone loves to participate in contests especially when they can win a prize at the end. You can start the contest with Limited offer tags or some discount coupons to get more audience on your site. Use interesting hashtags so that the contest reaches many more people.
  • Plan an interesting give away for the winner. There is no harm in spending some amount on a valuable giveaway which the participating members can talk about to their friends on social media. This will help in building a positive and brand image in the eyes of the customer.

7. Give out Freebies

  • If you want your customers to be loyal with you start giving out the freebies. Devote a good deal of freebies regularly. Check the gaps that exist between the customer’s expectation and experience. Giving out freebies and discount coupons can boost the energy of your customer which will lead to generating more revenue.

Implementation of these strategies on social media can generate better results for leaving your competitors in dust. The best way to grow your business is to experiment with new tactics to engage with the consumer and optimize your social media strategy.