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11 Easy Marketing Tips to Promote Your Small Business

Tag: e-commerce business

11 Easy Marketing Tips to Promote Your Small Business
Mohab Growth Hacks 0

11 Easy Marketing Tips to Promote Your Small Business

Small businesses have shown remarkable growth in their popularity. This has become possible due to changing customer preferences and technological advancements. However, small businesses generally suffer from lack of resources including funds to spend on business promotion and marketing. Here are some of the tips which may help you in marketing your products and services with minimal budget.

Establish Brand Identity: creating a clear identity allows you to properly communicate about your firm and the products. Some of the tools which may be used for creating a brand identity are brand name, logo and use of specific colors and images. You can do this work on your own with the help of several technological tools available. However, it is advisable to hire a professional to create logos and word art. To create a loyal band of customers, you should put your brand and logo everywhere possible, including on merchandise, business cars and email signatures.

Know Your Market: one of the worst mistakes a small business can make is to assume that any generic marketing strategy can work for their products. In reality, it is important to design a customized marketing proposition for each product and service. The process involves intensive study of the market and its various constituents. The marketing strategy is thus created keeping view the distinct requirements and features of the segment. Such customized marketing policy is more likely to resonate with the clients and produce better results. You should also be clear about the kind of message you are trying to deliver with your marketing plan.

Build a Better Website: in order to have proper online presence, it is essential to create a dedicated website. The portal should not only be attractive but also easy to use. Having an intuitive interface makes a website easier to navigate. The proper process of building a website starts with proper planning. At this stage, you should determine your target population and their requirements. The next steps involve designing and then creating the prototype. These prototypes are used for testing purpose where their usability quotient is determined. The final step involves review of the design and the implementation.

Select the Social Media Platform: with a large number of social platforms available, it is imperative to focus on a few in order to derive efficiency. There are several factors which contribute towards the choice of right platform mix. The demographic mix and the type of products to be marketed are amongst the most important factors. Some of the most prominent platforms available are Facebook, Snapchat and Instagram. Out of these platforms, the former is more popular among mature adults while the latter two are favored by younger population. Accordingly, the allocation of marketing material across these platforms may be carried out. Further, the choice of platforms may be done as per the business goals as well. Social media may also be used for promoting your website.

Use the Right Tools: it is important to use the right type of tools for disseminating information about your business. Some of the most important tools in this regard are infographics, videos and pictures. Infographics are particularly useful in this regard as these are easy to understand and are visually appealing. Such infographics are also easy to make as there are several computer programs available to aid their creation. You may also jazz up your data with the use of graphs and other visual representations.

Leverage Your Network: it is as important to think locally as it is to do on wider scale. While you may use social media and other mass media, it is equally essential to harness your close network. You can start by participating in local events. Alternatively, you may choose to sponsor some local drives and relevant public events. You should also look for synergistic participation with other non-competing businesses. Such collaborations may help in cross promotions through the use of reciprocal website links, fliers and bundled promotions. While such networking and collaborations may take some time to fructify but they are worth the effort.

With the above tips you can promote your business and goods in an optimal manner. These methods do not require substantial outlay of resources and thus are suitable for small businesses.

4 years ago
Let PayPage Simplify your Business
Mohab Growth Hacks 0

Let PayPage Simplify your Business

Let PayPage Simplify your Business

Invoicing is an important yet often neglected function of any business. It may not be as glamorous as marketing, but efficient invoicing not only helps in retaining your clients but may also provide valuable data for analytical purposes. A clear yet concise invoice provides transparency and aids in creating better rapport between the merchant and the client. So, revamp your invoicing style and increase the efficiency of your business with PayPage.

PayPage brings you a host of features which not only optimize your business operations but provide superior services to your clients as well. We can help you overhaul your invoicing operations, saving you time and money, while our detailed reports will offer food for thought when you prepare your future plans. Here are some of the top reasons why you should shake hands with PayPage and take your business to a whole new level.

 

  • Integration: Instead of having an invoice system which is all over the place, PayPage lets you consolidate all your invoicing operations. It offers you a single dashboard which provides you a place to have a bird’s eye view. You can manage all your customers from this dashboard, saving you time, energy and money. The single dashboard also makes it easier for you to track all your invoice related activities and follow them up accordingly.

 

  • Increase in Efficiency: PayPage allows you to simplify your invoicing processes. Whether it is the matter of sending recurring invoices to your customers or sending multiple invoices of the same kind to different clients, PayPage can help you in carrying out these tasks in a much more efficient manner. With us, you can track your payments to exercise better control over your receivables management system. Further, you can also set up recurring invoice process so that you do not have to undergo the hassle of sending repeated invoices.

 

  • Faster Turnaround Time: Receivable management is an important function in an organization as it ensures that you are getting dues paid in a prompt and scheduled manner and that your resources are not unnecessarily tied up. PayPage helps you in receiving your payments faster as now you don’t have to waste your time doing everything manually. It lets you use online payment options which further reduce the float time, helping you realize your payments faster.

 

  • Safer and Secure: In today’s world of spamming and phishing, it is not enough to have a fast payment system; you need to ensure that the system is secure too. It is vital that proper steps are taken so that the sensitive data belonging to your business and your clients is kept away from the prying eyes of hackers. PayPage uses advanced technologies to provide you with a payment system that you can rely upon.

To know more about our services, just get in touch with our representatives who will be happy to design a payment system to best meet your invoicing requirements. Together with PayPage, you can make your business more efficient and your clients more satisfied.

 

 

5 years ago
Launch Your First eCommerce Website : Shipping and Customer Service (Part 4)
Mohab Customer Experience 0

Launch Your First eCommerce Website : Shipping and Customer Service (Part 4)

Focus on Shipping and Customer Service

This is the closing part of the transaction where the goods are delivered to the end customer. As the adage goes, All’s well that ends well, it is prudent to ensure a good customer experience on the shipping and service front so as to ensure repeat customers.

Thus, it is vital to have a well-defined shipping and packaging strategy in place. The order should be capable of continuous tracking, even by the customer with timely status updates. The following are the available options in managing order shipping:

  1. Managing the Shipping function

It would be a good idea to have an in-built shipping and order management feature in the e-commerce portal. This is a good step in the direction of transparency as well. Th customer would be able to select the preferred shipping method and pay accordingly. Some websites also have the option of priority delivery, in which case the customer can pay extra charges towards a particular shipping mode. The shipping tool can also be used to conveniently print packing slips and labels

  1. Shipping software and printing

It would be a good idea to have pre-tie ups with logistics partners that have a reputation of timely delivery. Often these third-party vendors also offer free installed software that are helpful in knowing the status of and the expected time of delivery. These pre-installed software can also aid in accurate labelling of the goods as per customer specifics. For example, some e-commerce merchants offer customized greetings on the labels, if the product is to be delivered as a gift etc.

  1. Advanced Order Management delivery Software

One may also consider cloud-based software that would provide real time information as to the rates being charged by various carriers for comparison with support for additional functionalities like drop ship order or inventory status like whether the goods were damaged in transit etc. Some carriers also offer insurance facility.

Important aspects to bear in mind:

  • Size and weight matters: The e-commerce merchant should select the shipping tool based on the business model. In case of shipping a few items in pre-defined box sizes and weights, it would be best to opt for an in-built shipping tool in the website with basic features. However, in case of shipping box sizes that different, managing multiple delivery channels or offering drop ship facility, it would be prudent to select an advanced shipping software with various features to cater to growing and diversified business needs.
  • Think today for tomorrow: Experts advocate opting for a shipping strategy based on the business needs of tomorrow. E-commerce business generally witness growth spurt and it might be difficult to upgrade shipping tools at a later stage. Often the shipping software have a lower price for initial plans which can be upgraded to the higher advanced versions as per business growth. This way one can compare the freight charges and the customer can choose the best based on cost-quality parameters.
  • Packaging options: The freight charges are largely dependent upon the size and weight of the goods to be shipped. The different types of packaging are standard boxes, mailers, envelopes, customized boxes with branding, subscription crates for high value or delicate items. To save on costs, it is important to select small sized, light weight packing materials that serve the purpose of protecting the goods during transit.
  • Customer service: Another important aspect is customer service post-delivery. It may often happen that the customer is dissatisfied with the condition of the product delivered or has changed his or her mind about buying the product. In such a case, it is imperative to have a website feature that records and captures the revised status of the transaction and ensures prompt refund to the customer in valid situations.

In conclusion, it might be a good idea to have the shipping and customer service function as part of the e-commerce website rather than outsourcing to a third party. This way the quality is assured. An efficient and prompt delivery has a long-lasting positive impact on the customer and would translate into further orders in the future.

In this series we walked you through the main steps to set up one’s first e-commerce portal. There is a no one size fits all approach. It’s prudent to test and try out different options, before deciding upon the unique mix that works best for one’s e-commerce business.

5 years ago
Follow these 5 Simple Steps for Product Pricing
Mohab Growth Hacks 0

Follow these 5 Simple Steps for Product Pricing

Do you know that 61 percent of online buyers say that extra high costs is the main reason for cart abandonment? This clearly indicates that if product pricing is not accurate, you may lose more than half of the sales.

The product pricing mechanism lays emphasis on the cost price, profit, taxes, product value, and other variables. This means you have to consider various factors while determining the perfect product price. To assist you, we have compiled a list of five simple steps of pricing a product. Let us guide you through these.

What’s the Pricing Objective?

One of the foremost considerations in product pricing strategy is determining the company’s objective. You have to decide what you wish to achieve and where you see the company in the near future. When you are clear about your objectives, you get clarity about the product pricing.

For example, if you are in the nascent stage and you are entering a market, you can adopt survival pricing strategy wherein you are focused on establishing your presence and covering your expenses. Profit is not your foremost consideration. There are other objectives that influence the product price:

  • Maximum market share
  • Maximum market skimming
  • Product quality leadership

Demand-Price Relationship

While identifying the right market price of a product, it is crucial to study the demand curve. Often, there is an inverse relationship between the price and the demand. If the price is higher, the demand will be low, and vice-versa. However, this is not true in all the cases. We mentioned product quality leadership in the previous section. The demand and price both could be high if you are a leader in the segment in question.

Nevertheless, you can conduct surveys, initiate a project pilot, or perform a statistical analysis to determine the demand in the market.

Cost Estimation

Evidently, costs and target returns influence the price of the product. There are various fixed and variable costs associated with the product. To determine these costs, you can adopt activity-based costing (ABC) system to identify the exact cost based on all the activities, right from procuring raw materials to delivering the products to the retailer.

Also, if you prefer taking payments online, the customer can pay via multiple payment modes like credit or debit card, net banking, digital wallets, and so on. You can install a payment gateway to process these payments. The important thing to note is that the customer might incur payment processing charges, and you don’t have to include these while pricing your products.

Finalize a Pricing Method

The company’s objective influences the product price and the pricing method decides the pricing structure. And up to a certain extent, the pricing method is also dependent on the company’s objectives. Let us look at the pricing methods:

  • Markup pricing – The product price is determined after adding a profit percentage on the cost price.
  • Value-based pricing – The product price is influenced according to its value for the customers.
  • Target return pricing – The pricing is influenced by the target ROI.
  • Going rate pricing – You price the product as per the standard pricing of similar products.

Peek into Competitors’ Pricing Policy

Competition is almost everywhere. In some cases, you may face little or no competition. Here you can set the price as per your discretion after analyzing demand and customers’ willingness to pay. But if you operate in a niche having stiff competition, you must scrutinize your competitors’ objectives and pricing policy. This will allow you to customize your market offering in a way to gain an edge over your competitors.

The Bottom Line

With the right product price, you can grab a larger portion of the market share. But in addition to the price, you must create value for the customers, adopt innovative marketing strategies, and keep an eye on the market trends to remain a step ahead of your competitors.

5 years ago
How mobile technology is shaping the e-commerce industry?
Mohab Ecommerce 0

How mobile technology is shaping the e-commerce industry?

In today’s world, both online retail and offline retail sales are crucial for retailers. Often, these two are closely intertwined, one driving another and vice-versa. But there is one phenomenon that is influencing both these retail methods – mobile technology. Here we will emphasize the influence of mobile technology in the e-commerce industry.

The statistics reveal that almost half of the global internet traffic, 52.4% in the third quarter of 2018, is generated from mobile devices. You can boost e-commerce sales if you implement m-commerce strategies or adopt mobile technology to drive e-commerce sales.

Check out the following mobile technology trends that can be fruitful for your e-commerce business.

The surge in smartphone and internet penetration

There were 1.57 billion smartphone users in 2014, and the number is expected to reach 2.87 billion by 2020. In addition to this, the internet penetration rate stood at 53% in 2018 as the number of internet users rose to 4.021 billion, a 7% year-on-year rise. These statistics depict the importance of smartphones usage. Therefore, it becomes obligatory for every business entity to establish its presence on mobile. This is applicable to e-commerce businesses as well.

Ask your developer to create a responsive website that adapts comfortably according to the screen size of the device. Moreover, you can also consider investing in a mobile shopping app, if budget allows. The ultimate aim is to streamline e-commerce business for mobile users. This will ensure that buyers can access your online retail store anytime and anywhere.

Mobile payments

With the evolution of mobile technology, secure payment online systems have been developed, exclusively meant for mobile phones. There are numerous payment options for users, such as credit or debit card payments, net banking, mobile wallets, UPI payments, EMI payments, and so on. The mobile wallets and UPI payments specifically target mobile users and enable them to complete a payment in a couple of steps. These are secure payment processors that ensure end-to-end encryption, preventing any chances of fraudulent activities.

Customer engagement

When you emphasize m-commerce, you get an opportunity to target a custom audience, showcasing customized content. Based on the preferences of the buyers, and their browsing history, you can deliver custom content and notifications. Similarly, you can easily determine the peak hours when mobile users are online. Send a push notification during this time period, as there is a high probability that a user will check it out.

Ensuring an interactive user interface is the key to boost mobile sales. For example, uploading high definition visuals like 360-degree photos, videos, etc. enchants onlookers. You can also opt for augmented reality wherein, users can actually analyze products in a real-world scenario.  Another way is to enable live chat feature on the app or mobile website. The users prefer conversing on a mobile phone as this is the most convenient mode of communication.

Social media integration

On an average, a user spends 116 minutes per day on social media, and 61% social media usage is on a smartphone. Since social media allow users to browse and shop products without leaving their social media account, you can harness this opportunity to drive e-commerce sales. For example, Facebook shop, Instagram shop, and Pinterest’s buyable pins are examples of social media commerce. After browsing products and services, users click on “Buy or Shop” icon, the link redirects them to the payment gateway page, resulting in the order confirmation.

Conclusion

This is the right moment for adopting and implementing mobile technology in your e-commerce business. If you delay it further, your competitors might gain an edge over you by driving sales via mobile purchases. Make yourself future ready by targeting the right audience with the right set of strategies.

6 years ago