Category Archives: Business Growth

Startuphub.in - News

  • Ravi Shankar Prasad, Minister for Electronics & Information Technology inaugurated the summit
  • Startups will try to bring the focus of venture capitals and government around their processes and strategies
  • The telecom minister also launched the MeitY Startup Hub (MSH)

With a vision to discuss how leveraging emerging technologies like artificial intelligence (AI), the internet of things (IoT) would catalyze the socio-economic growth of India, Ravi Shankar Prasad, Minister for Electronics & Information Technology (MeitY) on Monday inaugurated MeitY Startup Summit 2019. The summit is seen as a step forward towards bringing together key stakeholders and startups under one roof.

During the course of the summit, startups and entrepreneurs will share techniques and strategies that they find effective with one another. Further, they will work with practitioners to capture viable techniques to bring the focus of venture capital and government around their processes and strategies.

At the summit, the telecom minister also launched MeitY Startup Hub (MSH). The startup hub has been set up in order to facilitate MeitY’s vision of promoting technology innovation, startups, and creation of intellectual properties.

As a nodal agency, software technology parks of India (STPI), an organization under MeitY, is entrusted with the implementation of MSH in the country.

STPI working for the creation of a startup ecosystem in India has so far created 28 centers of excellence (COE). During the MeitY Startup Summit 2019, STPI further signed four Memorandum of Understandings (MoUs) with Intel India Pvt limited, IIM Calcutta Innovation Park, Pontaq and IBM.

The MoUs are expected to help in promoting innovation in information and communications technology during the MeitY startup summit 2019. Additionally, these MoUs are also expected to connect technological institutions, venture capitalists, industries and government agencies.

These MoUs can also be seen as  a massive step forward for various STPI CoEs like IoT OpenLab at Bengaluru, ESDM incubation centre at Bhubaneshwar, Varcoe at Bhubaneshwar, Autonomous Connected Electric Shared Vehicles, CoE at Pune, MedTech & health informatics CoE at Lucknow, Rural & Agri IoT CoE at Guwahati,  BlockChain CoE at Gurugram and IoT in Agri CoE at Patna-Motihari and others.

Further, STPI has initiated the activity of setting up of various domain-specific CoEs across India. Moreover, IIM Calcutta Innovation Park (IIMCIP), has been engaged for providing their expertise in the call for application, screening, onboarding & review of startups across STPI CoEs.

Government’s Push For Startup India

The Union government has been continuously working towards building the startup ecosystem of the country and make it easier to grow.

Recently, showing confidence in the ability of startups to bring innovation and drive business in the Indian economy, Modi said that the Indian startup ecosystem will help India achieve the $5 Tn target for the economy set by the government.

Modi also highlighted that India is one of the top three startup ecosystems in the world and lauded startups for powering the startup ecosystem. The Prime Minister also claimed that the world is looking at new India as a land of unique opportunities.

The Startup India scheme has played a significant role in channeling the entrepreneurial spirit of India’s innovators and has penetrated Tier 2 and 3 markets as well. With plenty of initiative from the central and state governments, startups and early-stage businesses have been given every encouragement and incentive to grow and innovate.

Startuphub.in - News 1

As stated, Singapore’s DBS Bank to enter India’s Credit Card Market by 2020, the company confirmed on Tuesday. The banking giant is betting on its efforts to reach other parts of the world in order to nullify weakness in the local economy.

One of the top-level executives of DBS India, Shantanu Sengupta said- the credit card will be rolled out by the second or the third quarter of 2020.

The credit card market is still smaller in India in comparison to the debit card market. Latest stats from May indicate that debit card (825 million) users surpass credit card (48.9 million), users.

The Singaporean bank, which aimed earlier to create a customer base of 5 million in India by 2023, is likely to achieve the target earlier than expected.

Other companies such as Citigroup (C.N.) are also betting on India to increase its customer base there. India’s Paytm unveiled plans to roll out a card in collaboration with Citi, allowing the American banking giant to service some of its clients which is over 300 million.

Moreover, India is focusing to boost adoption of e-payments and recently made it mandatory for banks and card payments networks not to charge on debit card transactions.

Half of the customer base has already been achieved by the company and hence, expects to cross the mark before time, added Mr. Sengupta.

Blog source: http://thesiliconreview.net/banking-and-insurance 

taxi business

 

  • Ola’s self-driving service Ola Drive will available on Ola app, starting with Bengaluru
  • The company has major plans to take on rival startups such as Zoomcar and Drivezy and is looking to undercut the competition on pricing
  • India’s self-drive car rental is estimated to be valued at over $100 Mn with major investment coming in from auto giants in this sector

Riding on the unicorn status or its core ride-hailing business and Ola Electric, SoftBank-backed Ola has now forayed into the self-drive car rental market with the launch of ‘Ola Drive’.

The company that transformed daily commuting for Indians is now setting sights on the consumer auto market, which is reeling from slowing sales and the drop in consumption thanks to the credit crunch in auto loan providers as well as among citizens. Thanks to this drop, the market size for self-drive rentals and car subscriptions has increased tremendously.

A Mobility Insights 2019 report estimates the self-driving market to be a $100 Mn opportunity in India, which is currently highly under-penetrated. Plus, there’s a huge gap between driving license holders and car owners in India as one of the major driving factors for the self-driving market growth. India is said to have 127 Mn driving license holders as compared to the ‘cars to people’ ratio of 22:1000 in 2019. Also, the consumer preference for renting bigger, safer and powerful cars for intercity trips has added to the market size.

That’s exactly why Ola is stepping into the field. “The paradigm shift from ownership to usership has created a tremendous business opportunity in the car-sharing space,” an Ola spokesperson told Inc42.

To tap into this huge market opportunity, Ola has planned to invest around $200 Mn initially with the aim of increasing it to $500 Mn over the next couple of years. Currently hosting a 500 cars-strong fleet in Bengaluru, the company aims to expand its fleet to 20K cars by the end of 2020.

Ola Drive Competes On Price

The rental period proposed for Ola Drive is between two hours to three months, along with Ola’s claim to offer its services at 30% lower rates than the existing players. Ola Drive will initially be launched in Bengaluru, accessible through pick-up stations located across the city. The Bengaluru launch will closely be followed by other metros such as Hyderabad, Mumbai, and New Delhi. In addition to the rental costs, Ola Drive will also charge a security deposit starting at INR 2K.

Ola will also be standardising the services in all Ola Drive cars to include GPS, Ola’s connected car platform ‘Ola Play’, media playback, and Bluetooth connectivity along with access to the platform’s support and safety features such as a 24×7 helpline, emergency button (which prompts an immediate call from Ola’s dedicated safety response team), roadside assistance, and real-time car tracking.

Ola was founded in 2011 by Bhavish Aggarwal and Ankit Bhati as a cab-hailing service and since then expanded its services to include electric vehicles, micro-credit, food delivery and micro-insurance and now, self-driving car rentals. Till now, Ola has raised around $3.28 Bn in funding from prolific investors such as Ratan Tata, Sachin Bansal, Steadview Capital and more.

“With over 200 Mn subscribers, Ola Drive has the largest user base for a car-sharing service in the country,” the company said in an official statement.

Content Source:  https://inc42.com

Startuphub.in news

  • True Balance will use funds to expand its loan book and bolster its technology
  • Till date, the company has raised $65 Mn from investors such as SoftBank Ventures Asia among others
  • The company website shows that it has 70 Mn downloads, as of December 2018

Gurugram and Korea-based mobile balance management service startup True Balance has raised $23 Mn (INR 164 Cr) in a Series C funding round.

The investments reportedly came in from Korean investors which include NH Investment & Securities, IMM Investment, HB Investment, IBK Capital, D3 Jubilee Partners, SB Partners and Shinhan Capital. Till date, the company has raised $65 Mn from investors such as SoftBank Ventures Asia among others.

True Balance will reportedly use funds to expand its loan book, bolster its technology and business-focused talent acquisition efforts across geographies, as well as towards marketing.

True Balance (introduced by Balance Hero) was launched in 2014 by Charlie Lee. It converts a text message with an available balance to infographics so that the users can easily check the balance, purchase a prepaid account, recharge their balance and track data usage.

True Balance had received an RBI license to operate its wallet service in India and began its operation in December 2017. True Balance wallet lets users pay in advance for mobile recharges, much like Paytm and Mobikwik. Users can also send money to each other using UPI. Since then, it has evolved into a financial services company.

The company website shows that it has 70 Mn downloads, as of December 2018. The company claims to clock three lakh transactions daily and aims to bring financial freedom to primarily unbanked users by giving them a safe, fast and convenient transacting experience. It also plans to launch new products, such as rail tickets, bus tickets, EMI, digi-gold, instant cash loan and personal loan by the end of the current fiscal.

“We aim to strengthen our data and ACS (alternate credit scoring) strategy to provide better financial services to our target—the next billion Indian users. Our goal is to reach 100 Mn digital touchpoints and become one of the top fin-tech companies in India by 2022,” Charlie Lee reportedly said.

True Balance’s FY 19 report showed that the company’s revenue increased by 49.8% from INR 5.97 Cr in FY18 to INR 8.95 Cr in FY19, while the loss stood at INR 46 Cr. It has partnered with a Mumbai based NBFC HappyLoans to provide the financial services and had received undisclosed funding from ICICI Bank Ltd. for its growth plans.

True Balance has also received its non-banking financial company (NBFC) license from the Reserve Bank of India. Funds and VCs from all corners of the world are ready to invest billions in the fintech sector.

According to the Global Fintech Report Q1 2019, more than one million borrowers and two million lenders have transacted with lending platforms, with the overall exposure remaining at INR 350 Cr. Further, between 2015 and Q1 2019, the total investment in Indian fintech startups was $7.62 Bn, out of which 25.49% ($1.94 Bn) was for lending tech startups, according to DataLabs by Inc42.

India’s digital lending market has the potential to become a $1 Tn (INR 71 Lakh Cr) opportunity in the next five years, according to a 2018 BCG report. Of this, personal lending is estimated to grow to a $50 Bn market, growing at a rate of 30% every year.

Source: https://inc42.com

 

Penta_management_team

Penta, the German business banking startup, banking provider for small and medium-sized enterprises (SMEs) that was recently acquired by fintech company builder Finleap, has raised “over” €8 million in new funding.

The round is led by HV Holtzbrinck Ventures. Also participating is Finleap, alongside Fabrick, the Italian platform for open banking and fintech services, which is another of Penta’s existing shareholders. The startup raised a €7 million Series A round in late 2018, and is thought to have had over €18 million investment since being founded in 2016.

Meanwhile, today’s new injection of capital comes shortly after Penta was acquired by Finleap, the German company builder that co-founded and also owns a stake in banking platform solarisBank, of which Penta is a customer. Shortly after the deal went through, it was confirmed that Marko Wenthin, who previously co-founded solarisBank, had become Penta’s new CEO, replacing outgoing CEO and Penta co-founder Lav Odorović.

With a team of over 50, Penta now operates from three offices located in Berlin, Belgrade, and Milan. The latter follows a recent merger with Beesy, the Italian micro-business banking startup. Penta CEO Wenthin says internationalisation will be one of the focuses following HV Holtzbrinck Ventures’ backing.

“Penta has shown an incredible amount of passion for the market, the customers, and the product: it is amazing to see what the team has built since their inception,” he says in a statement. “This funding will allow us to further invest into our product and partnerships to become the financial platform of choice for small and medium sized companies. Additionally, we will push the internationalisation of Penta, starting with Italy this year”.

source: https://tcrn.ch/2KuDwVe

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Just yesterday, we experienced yet another major breach when Capital One announced it had been hacked and years of credit card application information had been stolen. Another day, another hack, but the question is how can companies protect themselves in the face of an onslaught of attacks. Confluera, a Palo Alto startup, wants to help with a new tool that purports to stop these kinds of attacks in real time.

Today the company, which launched last year, announced a $9 million Series A investment led by Lightspeed Venture Partners . It also has the backing of several influential technology execs, including John W. Thompson, who is chairman of Microsoft and former CEO at Symantec; Frank Slootman, CEO at Snowflake and formerly CEO at ServiceNow; and Lane Bess, former CEO of Palo Alto Networks.

What has attracted this interest is the company’s approach to cyber-security. “Confluera is a real-time cyber-security company. We are delivering the industry’s first platform to deterministic-ally stop cyber-attacks in real time,” company co-founder and CEO Abhijit Ghosh told TechCrunch.

To do that, Ghosh says, his company’s solution watches across the customer’s infrastructure, finds issues and recommends ways to mitigate the attack. “We see the problem that there are too many solutions which have been used. What is required is a platform that has visibility across the infrastructure, and uses security information from multiple sources to make that determination of where the attacker currently is and how to mitigate that,” he explained.

Microsoft chairman John Thompson, who is also an investor, says this is more than just real-time detection or real-time remediation. “It’s not just the audit trail and telling them what to do. It’s more importantly blocking the attack in real time. And that’s the unique nature of this platform, that you’re able to use the insight that comes from the science of the data to really block the attacks in real time.”

It’s early days for Confluera, as it has 19 employees and three customers using the platform so far. For starters, it will be officially launching next week at Black Hat. After that, it has to continue building out the product and prove that it can work as described to stop the types of attacks we see on a regular basis.

Source: https://techcrunch.com/2019/07/30/conflura-snags-9m-series-a-to-help-stop-cyber-attacks-in-real-time/

online-training

Learning Management System seems to be the go-to option for start-ups and Fortune 500s, alike. But is your organization ready to make the switch and invest in Online Training software?

Why You Should Use Online Training Software For L&D eLearning courses have become a preferred choice for keeping up to date with learning opportunities.

They contain a wide range of applications, from upgrading corporate certifications to getting a degree from home.

They also allow learners of all ages and academic levels to study at their own pace.

The corporate world makes its own value judgements, and they’re largely based on the bottom line.

In the business world, if it isn’t profitable it’s not worth doing.

Is there an effective way to promote corporate L&D with online training software? Let’s look at 6 benefits of using online training software for L&D..

1. Increased Flexibility
From an employee’s perspective, one of the drawbacks of work is academic stagnation. It’s hard to get time off for studies, and this can lead to high staff turnover. Some of the best and brightest team members may leave employment so that they can seek opportunities for their own development. Employers are equally unwilling to lose office hours.

The Online training software can solve both of these challenges simultaneously. It allows corporate learners to juggle work and school without compromising their jobs. They can study during their commutes, lunch breaks or after they put their kids to bed. They are able to study on their tablets, mobile phones, laptops or desktops so they have a wide variety of study options.

2. Reduced Travel Expenses
Aside from losing actual office time, travelling to and from class can be a burden on your staff. Employees may ask to get off work earlier or come to the office later, in order to accommodate their studies. If the Online training course is sponsored or managed by the office, you would have to fund their travel expenses. You’d also have to find a way to cover their missed work hours. Once again, having in-house courses would resolve all these problems. Team members can study at their desks, which eliminates both travel costs and time off work. Studying at work also positions them for raises, promotions and internal upward movement.

3. Greater Accessibility
These days, corporate teams are global, with employees and offices all over the world. This can make it difficult to reach them all at the same time. With online training software, employees in different departments, branches and time zones have equal opportunities. Online training courses are easier to accommodate than offline ones. This makes it easier for them to absorb technical content. In traditional training, such a situation would require different classrooms, instructors and time slots. Online, you can switch the instructional language with a single click.

4. Customized Online Training Content
Online education can drastically reduce your development costs.This way, different online learners can activate tools that are specifically relevant to them. One employee could prefer daily sessions while another might want weekly sessions. Self-directed tools may help them adjust the online training course to fit the time they are available. They can also select to skip topics they are already familiar with. They’re able to access additional online training resources in areas where they need extra attention. It’s much easier to do this online than in a physical classroom.

5. Personalized Online Training Resources
Using online training software for L&D offers a data cycle that flows both ways. Corporate learners can access extensive libraries, both inside the online training course and on the wider internet. Their study habits and patterns provide metrics and analytics that can be used to improve the online training course. This data is helpful both internally and externally. They can cross-sell it to similar corporates, or use it to create new online training courses for your firm. Internally, the gathered data can help improve how the company is run. It helps management pinpoint corporate trouble spots and resolve them.

6. Enhanced Compliance Rates
One of the main drivers of corporate L&D is industrial compliance. Local regulations often require certifications and licenses that have to be periodically renewed. These licenses might cover security, health, safety, gender matters or even language needs. If you have expats on your team their compliance may be a requirement of their visa or work permit.

In the regular course of running a business, these matters can easily be overlooked. Using an online platform for training can help streamline departments. The accounts team will get reminders when licensing fees are due. They can get in touch with HR or admin, who can prompt individual employees to update their compliance. The whole process runs smoother because of it.

Learning and Development is a key part of smart corporate structuring. Taking the process online saves your organization time and money while increasing efficiency. Flexible schedules allow corporate learners to work at their own pace and convenience. Studying at work or at home reduces corporate travel costs and improves time management. Global employees can access online training content in their preferred tongue, and there are other customization options as well. Thus, online training software for L&D can help you retain your top talent and improve productivity.

Source: https://elearncommunity.com/news/6-benefits-of-using-online-training-software-for-ld/

Most effective business strategy

I have heard people saying that the world is wicked. But I would say, the world is neither wicked nor doomed but is competitive. And you can never blame competitions because without competitions we would’ve progressed. Today’s business strives through competition. Doesn’t matter what label we put on, whether it is a B2B or B2C, competition is still the key to progress.

It is absolutely fine if you take pride in yourself for a successful launch. But remember, you need more of your strength to achieve sustainability. In fact, both are equally significant. A successful business strategy blends both entities with perfection. You had a perfect take off, but the story never ends there, you need to keep going. And some of us not just keep up. Moreover, they lead, we call them leaders, industry leaders. You can be one, all it takes would be an ideal business strategy. Let’s have a glimpse at few potent business strategies that help you stay on top of your game.

Define Your Goals

This may seem too typical but this is one of those main elements that decide your success. In fact, this is the most fundamental quality, which is as important as the air you breathe if consider the business as your body. Having a clear objective is like knowing the destination. And by knowing it, you can find the best way to reach it. In brief, It is impossible to hit the target if you have a distorted vision.

In Fact, you need to have goals at every point of your growth. You should make sure that you have clear objectives every month, every term. It can possibly be your sales growth or about expanding your customer base. It can be anything. But if you don’t have one, there is no point in trying at all. Imagine yourself as a boxer, every boxer has different goals. Their objective is create a physical impact over their opponent, yet they possess a common objective, the win. Defining your goals give you clarity, it let you move towards that one ultimate point, the success.

Look Within

The answer to any questions can be found within. The interpretation is simple, no math to crunch. If you want to achieve some progress, you need to start within. Look within your team. Make necessary improvements, innovate the already existing reality. Because this is one of the few things that can determine the outcome for a startup and the founder has the most control over. And if you are a startup, consider creating a diverse team with deep understanding in different domains. Most importantly, do not hesitate to bring changes, because change is what which stimulates growth. Keep experimenting, innovating, have trust within, for progress is worth it.

Interpret Your Ideal Customers

This is a consistent process that you should have a clear cut idea on your customers. If you are a startup, you need to start from the scratch. You need to find and define your ideal customers. But if you are a matured business looking for a business hike, you still have to do the same, I would say. As a business, you have to learn embrace changes, experiments. Your target market might not be same as when you started your business. Your business has grown, your offerings change, you finally have an idea about your customers. But in order to conquer further growth, you need to expand your territories. You might have missed certain niches earlier, you need to grasp those opportunities. Above all, you must have an attitude that better reflects your whole business strategy. Listen to Jaspal Nijjar, a successful entrepreneur, CEO of Filtur- an imminent price comparison website for health foods. He was asked to answer this question,  “Of the entire universe of possible clients/customers, who is your ideal client? One that refers the website. And we are on a mission to understand those kinds “, He replied. His answer was simple but precise. It says it all.

Product-Market Fit As A Business Strategy

This is more of a fundamentality. A successful strategy comprises understanding the necessity. Product-market fit is all about realizing the need and delivering the solution, leaving others helpless that they have no other choice but to accept it. This can be applied as a startup strategy or even as a mature business growth strategy. Paypal is the perfect example of this strategy. It began as a company that could encrypt and transfer money between two devices and found it’s real use as enabling payments between buyers and sellers on Ebay. Perform serious research on your desired industry and ask yourself the question that, can you deliver a simple yet complete solution for the problem that the industry is facing as for now?

Product- Expansion

This is specifically about taking your business to next level. As the name itself suggests, this part of the story demands some investment. Product expansion is nothing but adding more products to the line. Obviously, this is not something you should try as a startup business. This is advanced.

So now, when should I invest in product expansion?

You definitely have to gain the courage to interpret yourself as an established business first. Moreover, you should possess a clear vision about your customers, their behaviors and all. Then you can at least consider thinking about this part. The basic rule of product-expansion is nothing but finding the demand. You have to do serious market research, you need to find the exact market needs. By offering new products, you can give your old customers something that fulfills a new need. You can also effectively expand your marketplace.

Final Words

Business nowadays is more targeted as they have better access to data. So, being alive in today’s business Colosseum is not just about a clear business strategy but the determination to successfully execute it. And always remember two facts about change. You can either cope with a change, or you can be the one who brings that change. Either way, it’s your choice. Choose your strategy, choose greatness.

How Important Is Brand Identity For Your Business?

Nowadays the brand identity is one of the most important assets for more successful business.

Great branding expands the estimation of organizations, provides employees with bearing and inspiration, and helps to gain new customers easier. So what is brand identity? What’s more, why is it so important for your business?

Brand Identity

When you make a brand identity, you’re basically applying your brand esteems to any visual components that will be utilized to promote your business. A brand speaks to the total of individuals’ view of an organization’s customer reputation, service, logo, and advertising.

How Important Is Brand Identity For Your Business?

1. Loyalty

An effective brand identity for your business is loyalty, it can assemble customer loyalty and trust in a brand since it enables customers to make an association between a product and the organization. At the point when customers candidly interface with your brand, it prompts brand loyalty and trust. What’s more, you can wager they’ll educate their companions concerning it.

2. Branding Creates Trust

A Brand Identity dependably makes a trust value of the business. A specialist appearance makes legitimacy and trust. People will presumably purchase from a business that appears cleaned and goodness. Passionate reactions are hardwired into our brains, and those reactions are honest to goodness influencers.

3. A strong brand provides your business value

A solid brand will offer some benefit to your association well past your physical resources. Consider the brands that such as Wrangler, Coca-Cola, Apple, Ford, QuikTrip, etc…) are these organizations truly justified regardless of their hardware, their products, their distribution centers, or production lines? No, these organizations are worth substantially more than their physical resources and their image has made an esteem that far surpasses their physical esteem.

4. Stand out from the competition

At the point when customers have a few options, marking causes them settle on a choice. Your brand should feature your one of a kind ethics and let customers realize what they can anticipate from your small company. A brand character encourages you to separate your business from the opposition and suitably position your brand. Building up an expert, inventive character configuration can help you to emerge to potential customers in your market.

5. A strong brand helps customers know what to expect

A brand that is predictable and clear comforts the customers since they know precisely what’s in the store every last time they experience the brand. Your brand personality is the thing that separates you from the interminable ocean of contenders and demonstrates your customers your identity and what they can anticipate from working with you. It is one of the importance of Brand Identity.

6. Make your small business look bigger

You may maintain your business out of your kitchen, however, your customers don’t have to realize that. On the off chance that they do, they won’t be as prone to remunerate you fairly. The importance of brand identity is you can make your small business look in bigger.

7. Personality

A brand identity is the visual portrayal of the qualities and “personality” of your brand. Character design basically sets the tone of your brand, and it can be utilized to inspire particular sentiments in your audience. Your brand personality ought to be intended to impact your organization’s general message and advance your business objectives.

8. Branding Supports Advertising

Advertising is another segment of your brand. Both the medium picked and statistic focused for ads constructs a brand. Excessively restricted a publicizing center, and an organization dangers being “categorized” and losing their capacity to expand into new markets. Excessively expensive a concentration and the organization fails to make a perceptible impression of the organization in the brains of would-be customers.

9. Branding Inspires Employees

Numerous employees require something other than work they require a comment toward. At the point when employees comprehend your central goal and purpose behind being, they will probably feel that same pride and work a similar way to accomplish the objectives you have set. Having a solid brand resembles transforming the organization logo into a banner whatever remains of the organization can rally around.

10. Branding Generates New Customers

Branding empowers your organization to get referral business. Would it be feasible for you to educate a companion regarding the new shoes you adore in the event that you couldn’t recollect the brand? An expansive reason “brand” is the word utilized for this idea is that the objective is a permanent impression. As the most gainful promoting source, verbal referrals are just conceivable in a circumstance where your organization has conveyed an essential involvement with your customer.

Now you know the value of brand loyalty and How important is brand identity for your business? The most beneficial organizations, small and big, have a solitary thing in like manner. They have set up themselves as a leader in their specific industry by building a solid brand.

social media strategy for business growth

Social media has shown its true potentiality in terms of marketing through all these years. The fundamental idea behind social media marketing is same as direct marketing, which is to meet the audience right at their space. It’s a known fact that over 70% of internet users spent their time on social medias. Let’s have a glance on few statistics on Social Media Users,

  • One billion people actively use Facebook every month
  • 500,000 people use Twitter every month
  • Google’s +1 button is used 2+ billion times each day
  • 5 million photos are uploaded to Instagram every hour
  • 3,600 hours of video are uploaded to YouTube every hour

So, as for now, social media has turned out to be an inevitable source of Marketing and brand recognition for any businesses.

How Helpful Is Social Media For Your Business?

There are countless ways through which an effective Social Media strategy can influence your trade positively. I often wonder how people opt to become negligent towards such a productive platform. I have become a  Social media enthusiast since the origin of blogging sites. And I have gained immense profits from the same. So, the question here is, how Social Media can be valuable to your business?

I can virtually list out hundreds of valuables yet I opt to limit those to few numbers for the sake of brevity.

The first and the best about Social Media platforms is their intense user database itself. These vast numbers offer us with infinite possibility. Now, in this modern Digital Era, one can even target specific dimensions such as demographics, age groups, gender, language and lot more according to their needs.

A successful Marketing campaign is all about communicating, Convincing and converting. Social media let you communicate effectively. It, in fact, is changing the way people communicate within themselves. Think about this instance where someone is recommending some product through social media. The point is much simpler than you think, “ people believe other people they know far better than any sophisticated Marketing Campaign”.

Social Media’s contribution to Customer relationship is inexorable as it has already proven its possibilities by now. Like mentioned above, since most of the internet users spent their valuable time on social medias, your presence on those social media platforms can definitely benefit you tremendously.

Now, I will share some insights on “ how to improve your social presence”.

Start Where Your Customers are:

This is basics, which you need to understand. Your Social Media Marketing efforts can be exhausting if you failed to target the right platform. Since Social media is a vast ocean, you need not have to show up everywhere. You need to find the right space and hit the right spot. Before selecting the platform, you have to choose your target audience as well as the industry you are in. Moreover, you should be so clear about your intentions and your goals.

Consider Social Media Marketing As A High Priority

As I survey over hundreds of Successful Social Media Marketing Campaigns, I realized that the success rate is directly proportional to the priority you give to it. I can’t be more specific. It simply means that if you treat it as a priority thing, you will probably put more efforts to make it right, Simple as that. And as you began considering it as a commitment, I propose you to lead by a proper plan and strategy. Besides, you can rely on some genuine software to automate your Social efforts.

Branch Social Media Tasks Accordingly

The success of Social Media Campaign solely depends on how well you manage your social efforts. Does it make sense as you correlate those with the available time? As for hustling business owners, doing their work in batches will help them cut down on the time when switching the tasks. One thing I have learned over all these years is the power of prioritizing tasks. The process is exceptionally effective that you can actually organize and complete your important tasks more efficiently.

Pay Attention to Customers Rather Than Promote

Customers are the most important entities of any business. So, the best strategy is to listen to them rather than promoting. A successful promotion wholly depends on how well you understand your customer’s needs as well as behaviors. This is more like a long term investment, that is, it will help you to build a loyal customer base. And ultimately, you will have a large customer mass, where you can promote or market your services/products, and the conversion rate will be beyond your expectation.