Category: Marketing

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Marketing

3 Easy Marketing Tips for Startups in 2020

मार्केटिंग
मार्केटिंग

What is marketing? Why do we need to do marketing?  These are a few common questions we ask us when we embark on the new business.  Getting your new startup off the ground is all marketing it to your target consumer and gaining a place among them. We need marketing to produce your brand visible among your consumers. Every product, service, and everything needs an equal amount of marketing.

When you initiate a new startup, it is a challenging task, and for sure one of the biggest challenges in starting to build your brand awareness and chose the right marketing for the product.

In such a situation, we are here with some quick tips for you to help you to do the correct marketing of your company.

Online Adverts

Online marketing is the simplest and popular investment.  It guides you to target a certain web demographic and target audience. There are three big online advertisers like Google, Facebook, and Amazon who give you a clear understanding of your customer.

Online ads are growing rapidly with changing times. This will facilitate you to expand your business on a large scale, and it’s easy to handle with the help of tools. It gives multiple opportunities for both minor and large to enhance marketing. So, start adding online advertising in your strategy to boost your presence.

SEO Strategies

SEO strategies are the most familiar and beneficial strategy for your business. It will help you to improve your ranking in search engine results. Today one of the most potential marketing strategies which creates a vast impact on your company goals.

When you desire to focus on attracting user who is actively searching for information about your industry or product-related information, this is a lot more efficient in reaching your target audience. Additionally, this permits you to reach your audience while they are already looking for the information.

Virality

These days, many startups are owned by a young entrepreneur who is digital-savvy people. If you are one of them, then this strategy is made like this good marketing strategy for you. Here you need to create some content that encourages your consumer to share and promote your brand. Now many brands collaborate with influencers to promote themselves.

If you want to move ahead with this marketing strategy, then started working on creative concepts and bounce up your ideas off. It can be in terms of the giveaway, contest as virality gives your brand a huge marketing boost with little investment.

When you plan to build up your brand, remember to keep marketing as one of the most important aspects. There is no requirement of spending tens of thousands of money in the beginning.  Well planned and observed marketing strategy can help you to build your brand reorganization among the target audience. Three major marketing strategies to start with is mentioned in the article. These strategies will help you grow your brand and reach out to your audience easily with less investment.

 

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Marketing Startup

5 Cost-Effective Marketing Strategies for Startups

Marketing
Marketing (Photo Credits: Pickpik.com)

The greatest challenge in front of startups is that they are usually on a tight budget. Even if they are not, it is very important, that they should wisely spend each penny for a better result which they can see tomorrow. Therefore, startups shouldn’t be focussing on big marketing spends, but their attention should be on strategies which will help them reach out to a wider audience with limited spends.

Let’s take a look at some cost-effective marketing strategies which startups should consider.

1) Create a company website

Make a proper website, which is easy to navigate and can be opened on all the platforms, like a laptop, mobile phone or on a tablet. It should have all the information about what the company does.

2) Focus on Good Content & SEO

Once your website is up and running, the next step should be to populate the website with relevant content. Equal importance should also be given on SEO for your content to be easily found on search engines.

3) PR and news articles

If you are new in the market, it is very important to spread a word in the media about your arrival with the help of good PR and relevant news articles about your company.

4) Social Media Marketing

Use social media to reach out to your potential customers within a fixed budget. Don’t bombard the audience with too much promotional content. It is very important to create a niche and credibility so that people can trust your brand. Startups can also try influencer marketing, it is a very popular marketing form involving endorsements and product placement from influencers, people and organisations who have an expert level of knowledge or social influence in their field.

6) Be Part of Relevant Forums & Groups

Join as many relevant business groups on social media. Try and look out for questions pertaining to your business. You might see someone asking a question that you can answer (with your expertise), and use it as an opportunity to promote your business.

The marketing strategy of a start-up in the initial few months should be to engage with the customers, and not just sell a product. Remember, you are a new brand and people are not aware of your existence, so it is very important to engage and create a relationship with your customers.

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Marketing

7 Business Marketing Strategies to Build Your Brand!

Business Marketing Strategies

Introduction

Are you using the perfect business marketing strategy for your brand?
Do you how to market your product without investing too much?

People often misunderstand Sales with Marketing; they consider Sales as a part of Marketing. However, marketing and sales are very different from each other.

Sales increase your revenue by increasing the sales of products, while Marketing works on increasing the recall value of your product.
Although Marketing supports the Sales function, it is not directly linked to it.

Marketing is an overall game plan through which your product’s value proposition and unique strength get instilled in your customer’s mind like recall value.

Below are 7 types of business marketing strategies that will help you to scale up your business.

1. Niche Marketing

Niche marketing focuses on a specific demographic, psychographic, and geographic customers. It is a kind of marketing which focuses on customers of a specific region, with one specific product of a particular price range.

It refers to selling a specific product to a specific customer at a specific price. This kind of marketing reduces the size of the market, finishes the competition, and captures the whole market.

For Example:

There are many genres of TV channels like news, sports, music, and entertainment. However, there is only one channel dedicated to cricket- Star Cricket. It is a channel-focused only on one sport i.e. Cricket. It has created a recall value in minds of the audience, that whenever they want to watch cricket they switch to Star cricket.

It reduced the size of the market by focusing on one specific sport and audience, which helped it to remove competition and capture the whole market.

2. Trade Show Marketing

It is becoming a very popular business marketing strategy for showcasing products and services among corporates. As industries and businesses are evolving, everyone from the same industry is coming under one roof to showcase their products.

For Example:

In the trade show of the Apparel Industry, all industries involved in cloth making will showcase their products under one roof. It includes manufacturers of fabric, thread, finished cloths, sewing machines, and retailers coming under one roof to market their products.

This kind of marketing helps corporate get bulk orders, vendors, clients and make new partners without big effort. You can also organize- demonstrations, speeches, and promotional offers to attract people at your stall in trade shows.

3. Social Media Marketing
With increasing digitization around the world, social media marketing has become the most important business marketing strategy example to advertise your business.

You can’t afford to miss the opportunity of advertising your products on the social media platform, as it has emerged as one of the most intensive and the cheapest way to reach out to the customers.

There are currently Rs. 45 crores active internet users in India, which is going to double in the next two years.
As per government data, there will be Rs. 84 crores active internet users in India in 2021.
Social media is the platform where customers themselves promote your product while sharing it with others, which has credibility and trust factor.

Data analytics tool gives information about who are your customers, and where are they from, which helps you to retarget and remarket your product.

4. Freebie Marketing

Among other effective business marketing strategies example is freebie marketing. Giving Freebies along with your main product in a strategic manner helps to run a successful business.

Many companies offer small freebies with their main products to attract customers and increase their sales.

Under this marketing strategy, you can offer a low-value item with a high-value item to allure customers. It helps to build a recall value for your product among customers.

For instance, you can offer a small pouch of tomato sauce with a pack of noodle, or a coffee cup on the purchase of two packs of Coffee, or a small backpack with a Suitcase.

5. Undercover Marketing
It is a hidden style of marketing which is also called Buzz marketing. Just like undercover agents, these products are kept a secret, while creating hype around it through advertisement.

Undercover marketing creates excitement among customers which sparks curiosity revolving around products, event before its official launch.

It is more like a teaser of a movie, which generates curiosity among the audience through hyped propaganda, without revealing much about it.

Moviemakers insert some social, political and religious elements in movies to en-cash the hype sparked by the controversy around it.

6. Outbound Marketing and Inbound Marketing

Outbound marketing: In this, you tell customers about your product through various mediums like Tele Marketing/Calling, Tele Shopping, Letter, and TV and Radio Commercial Ads. In this, you reach out to customers through various mediums.

Inbound marketing: In this, you have to generate magnetic energy around your product to attract customers through different ways of online promotion. Here customers automatically reach out to you through the influence of Blogging, Email, Social Media, SEO, and Webinars.

7. Cross Promotion Marketing
Cross-promotion marketing has emerged as one of the most unique ways of marketing of two or more products in a single advertisement, without investing much of energy, time and money.

In this, two or more companies come together to advertise their different products in a single advertisement through the Rub-off Effect.
Their target customers are the same but their products don’t compete with each other. It increases its customer reach without increasing the budget.

For Example:

The advertisement of BMW Car can be done with the Louis Vuitton handbag in a single advertisement as the target audience of both products is similar. Those driving BMW cars will only be using Louis Vuitton bags as both products are of premium quality.

Other Examples of Cross Promotion:

McDonald’s and Coca Cola
Pizza Hut and Pepsi
Kit Kat and Android
Apple and Amazon
Uber with Spotify

With the changing demand of customers and advancement in technology, the traditional method of marketing has become outmoded.

It is time to influence your customer base through the third party by adopting modern types of business marketing strategies.

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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.