How Start-ups can earn big in less expenditure using Digital Marketing
As the internet is omnipresent now, people are getting more connected than ever virtually. Add the increased dependency on it for commerce during the locked down period during the pandemic times. As digital becomes the standard for most operations, marketing digitally has an array of perks to increase your startup brand’s engagement at nominal costs. Read on to know how
In modern times, we are all connected virtually the most. This has become possible due to the widespread internet penetration across the world. It has come to a point wherein our dependency on it has increased so much that if we don’t have internet, the disconnect is real and can take a toll on almost everything from mental wellbeing to business losses.
Be it sports, studies, or business, the internet bridges the gap between content producers and consumers. While the internet was already connecting people, it became all the more crucial during the dire times induced by the pandemic which had induced global commerce to collapse on the back of reduced in-person contact in a bid to curb the contagion.
The global audience now accepts that the internet reaches everyone universally for which businesses have started to tap their existing and prospective consumers through the digital platforms. Digital marketing has hence become imperative for businesses to reach their customers who are connected with the world through the internet on their smartphones, computers, etc. Not just the ease of marketing, but also the cost-effectiveness of going digital has opened new roads for businesses of all scales to thrive. Though businesses know that marketing this way has potential, testing waters through this route has been difficult for several.
It’s not the lack of funds or ideas that make startups fail prematurely, but the lack of strategy in channelizing their ideas to the target consumers better by balancing the content’s reach through the diverse online platforms is what makes several startups nosedive.
Let's shed light on how we can use digital marketing to reduce marketing expenditure and maximize earned returns. First and foremost, we must not forget that the key aspect for a startup to focus on is to identify the target customer. Reportedly, a whopping high percentage of startups fail to attain any room in the market share of their product/ service line due to the lack of understanding of their target patrons and their consumerism.
There is a slew of digital marketing channels that you can consider, but not all strategies fetch the same user engagement, which is dependent on multiple factors the product/ service and the user’s gratification. For example, if your business is into manufacturing shoes, you might want to consider positioning your active footwear line on a fashion aggregator app instead of sending mass emails with minimal call-to-action measures.
If you choose the right digital marketing strategies for your startup you will attain maximum return with nominal investments. Here are some digital marketing ideas to help you scale up your business.
Social Media Marketing– Everybody scrolls on Instagram, Facebook, Twitter, LinkedIn, etc. They all are windows to what an individual’s peers, family, colleagues, or in short what the world is doing. Reportedly, people spend an average of 2 hours 24 minutes on social media apps every day. If you place your ads here, it will cost you very nominal, of around Rs 5-6 on average for 1000 clicks. Some tips to attain success in social media marketing include joining relevant niche groups for maximum organic reach; building an email repository of prospective customers by providing them with free research papers, reports, eBooks, etc.; respond to every comment and message.
Email Marketing– Putting forth the highest Return on Investment to the tune of 40 times, email marketing is one of the most cost-effective channels for digital marketing. Some points to consider to up your email marketing game are - using attractive templates and engaging titles to increase open rate; funneling call-to-action for increased conversions; keep your subscribers engaged by sharing relevant content about 2-3 times a week.
Search Engine Optimization and Marketing– Attaining the prime spot at the top of the results section is what a business strives to achieve when a user/ prospective consumer eyes for a solution to their problem by keying in relevant keywords. Through Search Engine Optimization, you can optimize the content on your website by the keywords that users usually search for. This will lead to organic traffic. You can, however, also showcase your Ad by placing your website on the Search Engine’s results page by paying a price to the Search Engine. This route helps achieve faster results. It also provides high ROI and is cost-effective given that it is pay-on-click only.
There are more and more ways to strategize your digital marketing canvas to actively reach the targeted audience. All you essentially need to know is about your target audience and their consumerism and your nature of business. Thinking differently than others and creatively will make the route to success easier. If that all feels difficult to look into, there are boutique digital marketing agencies that you can consider hiring.