At the recently concluded eTailing India Expo 2017 – “India’s Flagship Conference & Exhibition on Retail, eCommerce and Mobile” (http://etailingindiaexpo.com), leading thought leaders shared their perspective on “Technology Services for Retail & eCommerce”. This article summarizes the session for Sales & Marketing: Delivering ROI using Social Media Platforms. (The session is not verbatim here)
Which is the right platform for a startup to extract best marketing results?
A person who has got any product need to be very clear about the market segment the product seeks and the kind of goals to achieve. For example LinkedIn is a good place for B2B marketing, Facebook for tapping youngster and so on.
Identifying the customer and spending time defining the customer is important. Good thing about digital is that it helps to track right from the first source to last source. So it is extremely important to segment the market and based on it decide the channel of marketing.
Can social media help a B2B manufacturer scale business?
If you have engaging content to attract buyer, you can use Social media.
For marketing, does someone need to talk to digital marketing agency as marketing is definitely different from technology?
You have to be clear about your strategy. Tech people are not marketing guys. As an entrepreneur, you should be able to make him/her understand what you want. This is where your entire strategy will work.
What is your core business and why somebody should buy your product? The digital agency will help you scale business to reach people provided you have clarity of thought that has to be expressed.
Can a startup completely rely on digital marketing or is there a formula to allocate budget to it?
As a tech-analyst or a founder, you have to put some eggs in every basket, start evaluating every result that comes in. So, there is no so called fixed thing.
Do we really see ROI coming from digital marketing?
You can spend money on social media but if you want to come up in search result, you need to have great engaging content for Google to pick you up. So, you can spend almost zero money and get results but you need to have engaging content for people to come back.
There has to be a compelling content to make it work in social media marketing. The combination of other marketing arsenals and content can help you achieve goals.
Can money be spent on aggregators (BankBazaar, MakeMyTrip) instead of social media platforms?
For content based marketing, social media could be a better platform. While if it is ad-based content, it could get traction on its respective business model platform. But then you can try each of the things and evaluate the process after identifying your product strength. Then, select the best platform.
Whether traditional form of marketing is better than the digital marketing in case you are selling the product rather than promoting the product?
It depends upon the business model. And, definitely in order to succeed, you would need promotion. There are always ways and means available in a country like India where still modern retail constitutes 10% of the total retail.
How can brand promote their product without being too pushy? The consumer is not into buying mode, but there to socialize on social media platforms.
Web 3.0 is about knowing the customer’s need even before the customer know about it and analytics can help you out. The moment before he or she knows the need, you would be able to propose your product. For instance, a customer is an adventure enthusiast and you are selling a bag. The chances of seeing the bag is less. But if you throw hysteria to the customer for instance, here are 5 essential things that you carry in your bag pack, you are engaging the potential customer with good content. Assuming customer shares the content (article or blog), the propensity to sell will go up. Then you can throw in an offer or target the customer through an email.
So, it is all about understanding the customer rather than pushing the product. Digital marketing is about measurement and tracking the results.
Some Stats On Social Media & Digital Marketing
- India has world’s largest number of Facebook Users with over 195 million users, overtaking US by over 4 million subscribers.
- 93% of B2B marketers are using content marketing over traditional marketing.
- 77% of online users buy products exclusively on Social Media.
- 8% of Indian Internet Users has purchased at least one product online and by 2019 it is expected to grow by 64.4%.
- 50% of shoppers buy products online based on recommendation through social media networks and 74% of customers rely on social media for making their purchase decisions.
- The sale of physical goods via digital channels in India amounted to 16.8 Billion U.S dollars in revenues.
- Video on a landing page could increase 80% of conversion rate.
Speakers: Nayan Bheda (Serial Entrepreneur/Founder- Edvantez & ISeB), Rohit Reddy
(Co-founder & CEO: TheBagTalk.com), Ravi Banka (Director- Digital Gaddi E-Services Pvt Ltd) and Sandeep Budhiraja (Country Head India- MMR Research Worldwide)