Free Pro Secrets Mini Agency on Digital Marketing
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Welcome to the free PRO SECRETS mini agency on how to skyrocket your business through digital marketing.
Hey I am Seema Gupta, Professor of Digital mktg at IIM Bangalore and in this video I will tell you 7 strategies to grow your business.
No 1 Strategy Video Marketing
Videos are very engaging because they can portray emotion, they can have a human face and hence you can build trust and credibility. Create Original, high quality content that adds value to your target audience. Various types of videos which do well are unboxing videos, Behind the scenes videos, Testimonials, How to Videos, Demonstration videos, Brand Explainer videos.
Magic Mantra in Youtube is to get recommended by Youtube. For that the key is number of views and watch time. So hook your audience with power packed crisp content. Target keywords with less competition using a tool TubeBuddy, Make attractive thumbnails and boom.
No 2 Strategy Instagram Marketing
Instagram is the new rage! Youth is very active on Instagram and you can reach 10% of your fans organically. If you are a small or medium business you can find gold content and model your content strategy based on it. use explore option or search for hashtags in your niche and find top content. Then tweak that content to make it relevant to your target audience and personalize it to your brand. In this example of a quote by Indira Nooyi you can tweak the post by putting picture and restructuring the quote.
Magic Mantra in Instagram is to succeed in micro test. It means engagement that you get in first 2-3 hours of posting will determine to how many people your post will be shown. So get views and engagement by posting at time when your followers are active online and doing post stacking which means posting in multiple formats like stories, LIVE, IGTV, FEED
No 3 Strategy – Influence Consumers to buy using Digital Psychology
Do you know human beings are predictably irrational? If you can understand the human mind then you can persuade consumers to buy. What would be the best way to sell a Rs.40,000 smart phone online? It’s simple. Just place it near a Rs.50,000 smart phone.
People tend to choose the median of all the prices offered and avoid extremities. If you as a marketer want to sell something at a desired amount, make the preferred price intermediate and try to sell it at the best possible value.
Strategy No 4 – Sell Products through Affiliate Marketing
Do you know people have become millionaires by doing affiliate marketing. What more – you get passive income and have cash registers ringing even while you are asleep!
Pay only when you get sales!. You can focus on improving your products or services while affiliates drive traffic to your website. Pay them commission on sales. They bring credibility as they create content which helps consumers make purchase decision. Give them the ammunition to create useful content such as unboxing videos, comparison content, How to and Experience sharing content. Use affiliate network to get access to large numbers of affiliates and products.
Strategy No. 5 – Hire Influencers to jumpstart your digital marketing
Do you know consumers have developed banner blindness. They ignore ads that come on websites. Instead they passionately follow influencers who are experts in their niche. These influencers get huge engagement on their posts. It becomes an endorsement. You basically rent out space on influencers account and reach out to her followers. You can do a Shout For SHOUT or a Paid SHOUT OUT. Shout for shout is a barter where two accounts promote each others content. It’s a win win as you get reach amongst new audiences. This will happen only if the two accounts have similar number of fans and engagement. Else you can do Paid shout out. Make sure that you have an agreement beforehand as to how many posts will be shared, time etc.
Strategy No 6 Overcome Law of Diminishing Returns
In digital after a certain threshold level as you put more money in advertising, the effectiveness begins to decline. Hence there is law of diminishing returns. It happens because there is ad fatigue that sets in. If you do nothing then revenues and ROI will decline from digital marketing. How will you counter this? There are 4 strategies for overcoming ad fatigue. First is change the creative. Different message or image or format like video or image ad. Second is change the targeting There are numerous ways to target in digital like geographic, demographic, psychographic so use a different combination to filter audeince. Third is change the objective. Sometime use Reach, sometimes click or lead. Fourth is do not run ads continuously. Instead adopt flighting approach, wherein you stop ads for a while intermittently so that audience is not fatigued.
Strategy No 7 – Synthesise Organic and Paid Search
Most marketers do not have a strategy that synthesises organic and paid search. I will tell you some golden tips. Use organic search that is SEO for informational queries, whereas go for paid ads for transactional queries. Do SEO for short tail keywords so that you can drive traffic to website and grow your business. Run paid ads for long tail keywords which will drive conversions and give high ROI. This will help you balance your short term and long term strategy. Over a period of time add more content on your website so that you can target more keywords with SEO and hence it reduces the requirement for paid ads thus improving your ROI.
The above strategies have done wonders for my clients and are guaranteed to grow your business too. Thank you for watching.