Hello, everyone! In my last article, I discussed how a group of people forming a team can prove to be one of the biggest and most important assets for your business. A team is a group of expert professionals working in a particular field or a department, whose motive is to increase the output and the productivity of the organization in a better way. Besides team building, every business requires branding and marketing to reach potential clients and increase their business by providing their products and services. Though it requires a skillful team and a group of dedicated professionals, it can also be accomplished by you, if your budget is too small or limited.
Be it a small or a medium enterprise (SME) or a large business organization, marketing is very important so as to present yourself to the crowd. To stand apart from the competition and to make your business unique in its own ways, the marketing strategies and campaigns that are used to advertise your business matters a lot. This depends on your idea, the product and the service that you wish to deliver to the end user and the channel through which you are marketing and advertising your product. Majorly there are two channels through which a brand, a product or a service can be marketed, that is, the offline medium and the online medium.
The main focus of small and medium enterprises (SMEs) is to save as much as external cost as they can so as to achieve more income and gain more profit. In order to achieve this, SMEs don’t spend much on marketing and advertising and this makes their business lost in the crowd. As marketing is very important for any business and is an integral part of the process to make your business grow, SMEs should make use of it and start marketing their brand, products, and services. To save money and to reduce the cost, SMEs can focus initially on the digital platform and not on the offline medium (as an offline medium requires investment). Digital platform allows small business owners to make use of it in a cost-effective manner with great results.
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Offline medium consists of resources which includes, newspaper ads, magazine publications, banner campaigns and much more, whereas the online medium consists of resources like digital marketing campaigns, email marketing, online advertising and much more. Limiting the discussion to digital marketing, I’ll be discussing the 5 major points that should be considered while marketing your business through the online medium. The 5 points are generic, but very effective if used appropriately. The 5 major points to consider while doing Digital Marketing are as follows:
- Know your niche: This is the most important step while starting off with digital marketing. Know your product and know your field of work and only based on that start marketing. Knowing the niche of your business, product or service is very important in order to make your business reach to the right set of a market. For example, if your business deals with clothing and lifestyle products, your niche will belong to the Fashion Industry. Without knowing your niche, if you market your products to the Technology Industry then it won’t make any sense. Thus, know the niche industry of your product well and based on that market it.
- Know your audience: Once you have understood the correct niche of your product, you now need to understand your target audience. The target audience is very important as these are the people that may give you more business and may buy products or services from you. Depending on what product or service you wish to advertise and market, the target audience may change. Similar to the niche of the product, the target audience must be very specific depending on the type of people that may use or buy your product/service. For example, your business has launched a new gadget which is youth-centric, but you are targeting the audience which has the age group from 25 to 50. Understand that this won’t help. Specify the audience age group from 18-25 and then start marketing the gadget. This will help you reach a number of people and may also help you in generating more leads.
- Know your channel: There are a number of different ways through which a product can be advertised or marketed online. Some of the channels include, email marketing (marketing your products and services through bulk emails), social media marketing (marketing and making use of advertisements provided by social media sites like Facebook, Twitter, LinkedIn and many others), forums and Q&A platforms (being active on number of forums related to your business niche can help you gain more presence for your product or services) and many more. The channel must be chosen based on the type of product, the target audience and other parameters (if there). For example, if your product focuses more on the youth, the channel can be selected as social media marketing. As many young people don’t check their emails, but they do check their social profiles frequently, marketing through social media will be a plus in this case.
- Know your consistency: If you are advertising your product without the investment that is in an organic way, try to stay consistent with your posts. Posting 4 updates in a day and then being inactive is not advisable. Instead, update one post each day for every day which is a good idea. This makes your brand consistent in front of the users using or accessing your brand’s information. Inactivity and inconsistency suddenly will result in bad impression in front of the end users. Thus staying consistency in advertising and marketing is very important. (If done in an organic way). If paid advertising is used, then you need to gradually decrease the use of paid advertisement and marketing strategies.
- Know your expertise: Digital marketing strategies and campaigns require some amount of expertise in order to gain better results. Though even if you are not an expert, you can start doing digital marketing, for improved results and better output, you need to understand that an expert is worthy. Whosoever you are assigning the task to manage digital marketing, know their expertise and understand that good results take time. Besides that, expert digital marketers make use of different tools and techniques that can help you achieve tremendous results. Though all this comes at some price.
Lastly, I would sum this up by stating that digital marketing can be used by small and medium business also. Such techniques will help you in growing your business and gaining more customers.
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Happy Reading! 🙂
Article written and submitted by: Akshay Rakesh Toshniwal