Corona times taught many new aspects of
doing business digitally. Its said that god has created good, in every bad
event. Covid period shall be considered as adaptive time curve; wherein business
owners tried to adopt digital operating and marketing strategies to work from
home. Unlike mass marketing, which raise interest of local audience by means of
radio spots, newspapers and other direct marketing tools; digital marketing
allows companies to nurture a more personal relationship with their consumers
from all over the world. With digital marketing, businesses can deliver
contents to their customers through personalized and cost-effective
communication. Birla WP Management team has prepared following decision matrix
for clients to take decision on digital marketing strategies:
1. Track and Measure Data instantly gives
your business a better idea of how your marketing campaign if faring. Using
these tools, not only can you can make statistical assessment of your campaign, but
also illustrate the progress of your marketing campaign in detailed graphics, which send running trend message to all management layers.
2. Impact Assessment shall be done on periodic
basis by business owners to grow your traffic, leads, sales and conversions of
enquiry to revenue / turnover. Without the ability to measure exact impact on targeted
customers, you cannot alter or modify strengths of your products.
3. Quick and Convenient Service Tools to
enhance product presence; wherein your digital presence shall start from
showing product capabilities to end user and shall remain available till after
sale service.
4. Lowest Cost Marketing is biggest benefit to be derived from digital marketing. Digitally it appeal directly to consumer and remain alive for longer duration than
print media or other shout media. Cost of per impression or cost of per
customer acquisition is lowest in digital media.
5. Demographic Targeting can be easily
controlled in digital marketing; wherein you can restrict geographical area of
your digital campaign and reduce cost. In facebook, insta, twitter, whatsapp, youtube media, many tools available to filter your customer targets, based on
geography, habits, spending capacity, season, reach, fashion etc.
6. Data Bank creation for permanent use by
industries and businesses. Transaction thru digital mode allow you to collect
basic customer data to enhance sales and build brand goodwill on repetitive
basis. Data is fuel to run digital marketing tools, wherein you can filter data
and appeal harder to end consumer.
7. Instant Transaction Services is biggest
advantage to reduce cost of working capital. Executing transactions is easy and
instant on digital payment services, since no need to handle physical cash or
time taking bank clearing floats etc. A single click can fetch you fund flow and inventory management.
8. Ability to Multitask is another big
advantage of digital marketing. Making faq and viral them digitally may save
precious time of your marketing team. At the same time data generated from past
purchases, can be used for generating new sales. Data of one product and type
of customer can be used to sale another product with same set of customers. All
these digital campaigns are matter of a single click, without the risk of
diminished satisfaction.
Selection of proper digital marketing strategy
is continuous cost-benefit analysis by your business advisors; wherein it can
reduce cost of interest, better use of working capital, generate more sales with same infrastructure, reduce inventories, reduce payment float etc. Author of the article may be contacted for expert advise, with deep rooted matrix assessment. Be digitally innovative......new digital world is waiting
for your business to roll smoother and be front runner for value creation.
Written by :
CA Yogesh Birla
Director
Birla WP Management
visit us at : www.YogeshBirlaCA.Blogspot.com
Birla WP Management
visit us at : www.YogeshBirlaCA.Blogspot.com
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