Category: Business Startup Ideas

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5 Ways to Skyrocket your Webinar Attendees!

If you are an entrepreneur with an e-commerce business, you must have experienced the highs and lows of hosting a webinar. After all, improving your attendance rates can result in higher sales than any other conversion strategy.  However, it is also one of the most dangerous places where you can lose most potential buyers in a campaign.

The major reason behind this is that sometimes you are so focused on the sale, you forget about getting people on the webinar. Earlier 60-70% of people would attend a webinar live whereas today, most people are likely to get 25% of the audience.

According to a report, 64% of businesses received a new client in the last year through a Facebook video.

In another survey, ‘83% of video marketers say that webinars have helped them generate leads. 84% of consumers admitted that they have been convinced to purchase a product or service by watching a video by a brand’.

Webinars have exploded on the internet, especially in that past year. The consumption of social media content is increased due to the pandemic. As the people were forced to stay at home, online consumption spiked up. And as the trend evolved, more and more marketers began to take the advantage of them.

So what makes WEBINARS a popular choice amongst the marketers as well as the consumers?

Webinars are one of the most effective ways to hook in new leads. It helps brands to change with the rapidly changing consumer behavior and market trends. A potential buyer will buy your product or sign up for your service because it will help them. Not because it`s cool, hip, or trendy.

This is why people love hands-on lessons and casual walkthroughs that can help them build their businesses in a better and simple way.

Brilliantly planned and executed webinars can result in a 19% of the conversion rate on an average. These are pretty solid statistics if you compare them with the average conversion rate on standard PPC campaigns on websites.

If you too are planning to host a webinar, here are 5 tips to cut through the noise and attract a large audience to your webinar:

1. Identify your Customers` Challenges

Understanding your customers or clients is paramount. Ask your potential customers, existing & potential clients about their current challenges, frustrations, and desires. Post questions on Facebook and read the comments. Find out why consumers will choose your brand and not your competitors. Identify the solutions and use the exact language in your webinar. This will make your audiences feel seen and heard.

2. Pick a topic that Attracts Attendees

Research a topic that will pull more people towards your webinar. Which topic according to you will attract more audience?

a). How to purchase our product?

or

b). Make your business easier through new strategies?

If you pick the ‘option B’ then you are right. Why? The second option promises a benefit that will help your customers to run their business operation, smoothly.

If you test different topics for your webinar, you will find that an interesting, engaging, timely, and educational webinar will pull more audience. Your presentation should be ‘customer-centric and ‘solution-oriented. This will give participants practical ways to solve the challenges they are facing currently.

The topic should also obviously include the real goal of lead generation, product launching, and educating your audience.

3. Find your Target Audience

If you are selling a sports product, it would be pointless to market a webinar to those who are more interested in business courses. Hence, it is extremely necessary to search out forums, mail groups, chat rooms, or any other social media platform to find out your target audience.

Once you find a topic of interest, create a follow-up plan, and make a strategy to build your event marketing plan from there.

4. Be open to fluctuating Attendance Expectations

Sometimes we overestimate the numbers and find it demotivating to see the actual number of people who attend the webinar. Expect a show rate of only 30% of those who have registered for a free webinar.

If your numbers are below that then make sure that you are sending day-of and 24 hours reminders via email. Send invitations to more prospects and multiple times to remind them about your free webinar.

5. Use Polling Questions

The best way to increase the engagement on your webinar is to ask your audience to participate in your webinar. If you have ever attended a webinar on one of the most leading platforms, you must have noticed that they allow you to pre-load interactive polling questions.

You can capture the attention of your audiences by asking questions related to the webinar. Ask things like:

i. What interests you most about the webinar?

ii. What are the immediate challenges you are facing?

iii. Would you like to boost your sales?

iv. Would you like more information on our latest product or services?

The type of questions that we have mentioned above will not only attract the audience to your webinar but also give them ‘food-for-thought and keep them hooked for your next webinar.

Have your attendees try, buy and contact you for more information on your products or next webinar. Also, offer them a limited-time offer for the webinar to create urgency and hype around it. If you are doing an educational webinar, tell your attendees to stay on for more information.

And last, but far away from least- Be Enthusiastic and talk in a more connecting way! Motivate your participants and engage them in conversation. Want to know more about marketing strategies? Click here: https://www.badabusiness.com/?ref_code=ArticlesLeads to join the league of successful entrepreneurs.

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Business motivation Business Startup Ideas Startup Strategy

5 Important Steps Entrepreneurs must take for the Perfect Product Launch!

So you have a unique idea for a new product that will magically resolve all the challenges that customers in a particular segment are facing. You create a killer product that may bring a revolution to the world. Now you want the entire world to go crazy to purchase it (think about people standing in queue to buy an iPhone).

But none of that happens and you get up with sweat beads all over your forehead. All the hard work and efforts that you have put in to create a product now appear pointless. Scary, isn`t it?

It is extremely easy to get ahead of yourself when trying to create a new product. Envisioning all the sales and profits, recognition, and success that will emerge after your product launch can often take us away from reality. But just like any other business initiative, a product launch also requires time and careful planning.

And, launching your product in the market without having your ducks in a row is a recipe for disaster. Thus, if you have created a brilliant product after investing your hard-earned money and efforts, here are 5 steps every entrepreneur should take before releasing a new product:

1. Be Strategic in Defining your Target Audience

Whether you are creating the new iPhone or a food joint, it is important to find and learn from your core audience. Establish your base and build their confidence in you.

Learn from your competitors as there are no original ideas, only repurposed ones. As you prepare for your product launch, research your competitors. Take from their good, learn from their mistakes and enhance where you think is a scope for improvement.

2. Go All out When It comes to Publicity

Obscurity kills businesses. If you do not shine like a sun when it comes to publicity, you won`t get the attention that is needed to be successful. Before launching your new product, ask yourself two things-

a). How far will I go to get attention?

b). How frequent will I be in my attempts?

If you will not go overboard when it comes to marketing your product launch, you will not get your customer`s attention. Also, having a thorough understanding of the challenge that your product or service is solving is imperative to business growth. It is very surprising to see how it is not thoroughly thought through.

3. Be Clear & Concise about your Target Audience

If someone asks you, “Who is your target audience?” you should have a concise answer. Otherwise, it’s a red signal! Being an entrepreneur is not an easy deal and thus, it is suggested that you should research well about your target audience.

Apart from knowing your audience, you must be well aware of your product`s value. Take testimonials from your client who found success using your product, which can be beneficial for making improvements.

4. Trace & Understand the Buyer`s Journey

What is the foundation of all the marketing and sales activities? The Buyer`s Journey! The process that revolves around the buying process makes the basis of all the activities related to marketing. Thus, it is essential to understand the customer`s pain points, from where do they get their information to, and who influences the purchase. Generally, there are specific events that may trigger a purchase.

5. Focus on Major Media Outlets

Attention is the currency of the internet. An average person consumes an enormous amount of information daily. To hold someone`s attention, cut through the noise. Develop the right media strategy that is suitable for your product launch. Pitch yourself as an expert and focus on high-profile media outlets. However, your pitch must have a sensational hook with actionable advice.

Also, do not just use the traditional medium of advertisements. Use the power of social media and create hype to engage customers. Create strong brand guidelines and ensure that you got the powerful one. Use social media platforms to create a buzz amongst the target consumers.

Another brilliant way to create a buzz around your product before its launch is to reward your customers. Offer discounts for preorders, first-time users, and or something else that can entice users to buy upon launch.

Launching a new product or service is not easy! There are lots of steps involved that can leave a great impact on a product launch. These steps can make or mar your product in the niche market. Know what is best for your product or service with our Problem Solving Courses.  To know more about it, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

 

 

 

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Business motivation Business Startup Ideas Startup Strategy

5 Common Pitfalls Startups Encounter and How to Avoid Them!

Home to 21 Unicorns, India is being the 3rd largest startup ecosystem. The Indian startup has received increased attention in recent years. This simply means that their numbers are on the rise and they are widely being accepted and recognized as an integral part of growth.

Though the immense growth and support for startups that are available in all dimensions is a pleasant change, the cold and hard fact is that most of the startups in India fail within 5 years of their launch, as per a report by IBM Institute for Business Value and Oxford Economics.

There are numerous reasons behind the failure of the startup. But one major reason is due to the lack of innovation. Also, startups that fail tend to repeat the same mistakes that prove costly shortly.

Here is a list of five common pitfalls that every entrepreneur makes at the early stages, but should steer clear of them at any cost:

1. They don`t have a Leadership Team that encourages diversity

Starting our list with the most common but costly mistake that founders usually make is when they begin hiring people for their team. Many entrepreneurs hire people just like themselves. On the surface, this appears to be a sound idea, but the danger lies underneath.  Without people who challenge the stereotypes and the founder`s thinking, a startup fails to identify new opportunities or to spot risks until it`s too late.

Avoiding this trap is essential to make a startup business successful. Startups should hire people who think out-of-the-box and know no creative boundaries. The diversity of ideas, skill sets, and backgrounds are the key essentials of every successful startup.

2. They Don`t Invest Time To Find The Right Venture Capital

Capital is essential. But this does not mean that every startup should rush after it. Speed is important, yes, but without breaks, it will result only in a misadventure. Finding a balance speed to find the right fit is equally essential.

Finding perfect Venture Capital is just like finding the right partner for marriage. Take enough time to find the right match- and avoid jumping at the first or the biggest check.

VCs are always on the lookout for the next Uber, Razorpay, Nykaa, or Facebook. To increase their chances, they may invest in multiple companies and come with a growth-at-all-mindset.

To avoid a situation like that put in a considerable amount of time to find a VC partner that will provide thoughtful guidance, mentorship and will be there for you during the challenges.

3. They Create Products Without Considering Customer`s Pain Points

Too often founders get overly enthusiastic about their ideas related to their product or service. They often believe that once they build a product, customers will come. But building a product or a service without any customer validation or A/B testing can be dangerous for a business.

Instead, founders of startups should always find an alpha customer and then create a product to solve the customer`s biggest pain point. Creating a customer-centric product doesn`t happen by just sitting around a conference table brainstorming. The idea to build an amazing product comes from seeking out and tackling the real problems in the world that already exist.

4. They Lack a Clear, Concise & Focused Go-to-Market Plan

More often than not, startups are known to overestimate the demand for their products. Generally, they also lack a clear understanding of how to bring their big ideas to the market. Entrepreneurs should document a clear and concise path to their profitability. To chart this document they should conduct rigorous research and analysis that challenge their market estimates.

This requires an in-depth knowledge of the strengths and weaknesses of their market competitors. Along with that, they should also determine the company`s proprietary advantage in each market segment it is looking to penetrate.

It is also important to be prepared in advance to be able to shift the business with the technological advancement or according to customer needs. And while adaptability is crucial, having a focused plan is also essential. As a startup the resources are generally limited, thus, it is important to be laser-focused for maximum impact.

5. They don`t build Strategic Partnerships

Many startups think about partnerships just in terms of capital and checks. But startups also require strategic alliances that will help them refine their business models, new customers, scale revenues, and generate market awareness.

By making partnerships with large and established companies, startups can save costs on R&D resources as well as the expertise of their professional team.

Want to know what are the other pitfalls that entrepreneurs should avoid? Know it all from the top industry experts with our Everything about Entrepreneurship course. EAE course will give you access to marketing expertise and essential mentorship.

To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

‘Completion before expansion’- Invest your money on a complete project

Planning to buy a new home? Know why you should invest your hard earned money on a complete project rather than an under-construction project.

 

 

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Business Startup Ideas Marketing Sales Strategy

Branding: Why it is crucial while scaling your startup business?

Branding plays a crucial role in the success of every business. And when it comes to startups, branding is of paramount importance. It is vital for the development and growth of an organization.

Your brand becomes a part of the customer`s everyday life. For instance, if a customer wants to purchase a product, he or she would like to buy from a company that not only offers great quality products but also provide other assurances. And, if a customer feels that your brand is the best in the market, then a customer will buy it even if it is a bit costlier. This is the impact of having a solid brand image.

A brand is what helps your business distinguish your product from the league and helps consumers associate themselves with your brand.

But many entrepreneurs fail to recognize its importance in the initial stage of the business. They make the mistake of obsessing over their products and turn a blind eye to every aspect of the branding. This can lead to a series of disastrous consequences for the product as well as the company in the long run. Due to the negligence, the brand might become unnoticed and irrelevant.

According to an analysis conducted by the Marketing Accountability Standards Board (MASB), ‘brands contribute on an average of 19.5% and if the impact is measured based on firm cash flow, profits and firm value, the impact could be contributed for over 50% of the enterprise value.

Another report by the Marketing Science Institute (MSI) that included around 220 consumer products found that a superior brand preference or reputation commanded price premiums of 26% on average, even when brand quality is the same.

Brand Image: A living persona

Your brand image is like a living entity. If your brand can create ripples in the market and generate excitement by showcasing life, you can get a loyal clientele. Your brand grows and matures over the years and builds its persona just like a living entity and provides a solid competitive advantage.

In this age of digitalization, it is important to have a unique brand strategy that will engage the audience across multiple mediums. Therefore, it is essential for every company to carefully select and invest when it comes to building a brand that speaks volumes about the company`s unique business strategies and core values.

Branding is essential for business sales too!

If your brand connects straight away with your target customers, it will result in an excellent customer experience. And according to a report published in Forbes, ‘73% of companies with above-average customer experience performs better financially and also get higher revenue’.

Another report suggests that around 17% of the consumers are willing to pay more to purchase from a brand that has a great reputation and market value.

Harvard University professor, Gerald Haltman who is the author of ‘How customers think: Essential insights into the mind of the market’, writes in his book that 95 percent of a customer`s decision-making process happens subconsciously. Hence, the major reason why a customer will choose your brand instead of your competitor will largely depend on how the consumers ‘feel’ about your company.

And why this factor is important for a startup? Startups tend to have major competitors who have a larger team, better infrastructure, brand reputation, and marketing knowledge. A good brand image will help you to attract more customers and your product will finish on top of your competitors.

Brand Image: Honesty v/s Perfection

Startups represent innovation and a distinct approach towards the same product that is already available in the market. It`s their uniqueness that connects them super strongly with their customers. However, too many companies want to represent their brand under a perfect and idealized spotlight. This results in a brand image that lacks the character, texture, and trust of a consumer.

Another blunder that most startups do is copying other businesses or internet trends and images. Creating a fake image of their brand that does not represent them would simply mean wasting the most valuable emotional factor due to which a startup ends up eroding its customer base.

Branding in the internet age

With technological advancements, the internet has slowly taken over. Today, with the advent of affordable smart-phones, branding of products online is no longer a luxury. It has become a necessity for startups where they can sell their products to a wider audience.

With cost-effective internet that is available to most people, a business must use this opportunity. Despite the changing times and mediums of advertisement, branding is still an integral part of advertising and the business world. Hence, listen to what stakeholders and customers have to say about your brand, and use their feedback to make improvements. This will also build a better brand image.

Learn how you can take your startup to new heights with our Everything about Entrepreneurship. Click here to know more about this product: https://www.badabusiness.com/?ref_code=ArticlesLeads