Setting Up An E-Commerce In India

The lucrative world of online business is inviting vendors from all categories to come and join the web for growing their business. If you are a seller thinking about diving head first in the e-commerce industry but don’t know how, there are a few steps you can keep in mind if you want to start your ecommerce setup. This will be the right time to hit the nail on the head, as everyone around you in frantically searching for gifts, products, offers and services. 

 

The giants like Amazon and Flipkart has shown that there are plenty of opportunities for you to grow your business. According to the Economic Survey of 2017-2018, the ecommerce market in India was estimated at the $33 billion – a full 19.1 percent growth rate since 2016-2017! What’s more, the Nasscom Strategic Review of 2018 estimated the ecommerce market at $33 billion in 2017-2018 and claimed that it reached $38.5 billion, indicating a commendable growth rate of about 17 percent in the financial year 2018-2019, the Business Standard reported. But, did you know that these platforms are not the only way you can approach the ecommerce industry. Let’s see what other possible options you have. 

 

Step-by-step guide:

The first thing you should do is understand the requirement and set up a plan. There are single vendor and multi vendor marketplaces. You have to opt for the most suitable option. Single vendor sites sells products to different customers but the multi vendor sites, sell different products to different customers. Through these sites, it is very efficient to keep track of the transactions and manage all of it with less administrative resources. It is essential to know that you can sell your own products or allow other sellers to sell products on your platform. You can make profits in the form of commission and profit margins. Following the requirement and the setup, you should move over to branding. This should not constitute the brand you are selling or the name of your business but the image you would like to portray and project to the customers. 

 

Technical aspects:

On the technical side, the online business set up requires an EIN (Employer Identification Number), for business bank account and taxing purposes. EIN is a unique number that identifies your business. The following trail of paperwork includes DIN number, PAN and GST as well. But we will not be diving into the legal formalities. Let’s focus on the primary requirements at an operational level. On a side note, don’t forget to open a bank account on the company’s name. This account can be used in the payment getaway and the same can be used for refunds. It will become easy to analyse profit and losses on the B2C level. 

 

Own website?

If you are diving in to create a brand new website, you can either use a pre-built platform or you can build it from the ground up. Both the options have their advantages and disadvantages which you can weigh depending on the size of your organizations and the costing involved. 

 

Profit and loss!

You have to remember that it is not just about generating orders but also executing them. Logistics are so important while building a brand image and carrying your name in the market. The shipping and returns along with express deliveries can be a lot to manage. Logistics is one of the major reasons as to why a lot of vendors prefer joining e-commerce giants rather than starting their own website. You have to provide tracking services, process customer service requests and manage canceled/ returned orders. If this seems a lot, you’ll need a lot of manpower to manage all of this. There is a possibility of mishaps while managing the logistics, if your products are lost or damaged, it will be you bearing the loss.  

 

The last and final step is to understand how will you bring in customers, you cannot expect people to visit your website, you have to create the traffic. There are SEO’s at your disposal, along with other marketing options. You can place ads and run campaigns. More traffic means more brand awareness. The market suggest that the conversion is under 3% of the traffic. You have to do the math for the sales. If you want more buyers you need to create more traffic. 

 

Conclusion:

In this ever changing market, e-commerce has really cemented its feet as an essential medium to grow your business. Make sure that you are not the last person to join the party. The time is ripe and if you fall back, a few years down the line where the shopper is smarter and quicker, you will be too behind to catch up. Incase you are wondering that setting your own website might be a stretch for your business, you can always list your business with marketplaces. It is essential that you understand the hows and the what’s of the industry. You can grow from there.  ')}

How to create a perfect gift guide this festive season to get the world at your store?

All that extra cheer around you is reeking of the festive season. Small vendors, departmental stores and even supermarkets have the rush and offers to lure as many shoppers as possible. This flood of people are looking for something special for their loved ones, they spend hours in finding that one thing that will add more value to their emotions as they convey it through the medium of these gifts. In order to sort this entire system out for a span of a few weeks, the retailers have to follow a gift guide, that helps them to organize, customize and monetize the gift market. If you are indifferent to the gift guide system we have got you covered, in this blog we will help you with the steps you can take to create the perfect gift guide. 

 

Is gift guide actually a thing?

The google searches for ‘gift guide’ peaks in October and stays a popular search term till December. The keen shoppers interested in gifting ideas prefer looking at the lists and guides to help them. Often they search for things like “gift ideas for brother/sister/mother/friend”, this trend is so fierce that there are plenty of websites dedicated only to holiday gifts. This speaks volumes that there is a market for festive gifts and you can cash in on it, if you apply the correct strategy. 

 

The gift guide offers a high ROI for the time you invest. If you showcase your offers, you are placing yourself in front of the targeted shoppers, who reflect a higher interest in buying. Relatively unique or niche products do especially well in most gift guides. If you are still wondering what a gift guide looks like, it has catchy offers on templates that say things like “Best grooming kit under 1000 Rs.” the gift guide directs the shoppers to a pathway. Many websites categorize their gift guides as “for him” and “for her” to compartmentalize the plethora of products at the shoppers disposal. 

 

Here are a few steps for you to ensure that your offers grab the attention of the shopper:  

  1. Look at sales data and trends to determine which products to include based on their popularity, relativity and trend. You can go through the list of your top selling products, you may notice in the filter section, there is always an option to sort out products based on their popularity. It is all about those generic gifts that everyone buys at least once. 

 

  1. Don’t forget to include the opinion of the most important person in the transaction i.e. the buyer. You can use your social media to run polls and gather data to implement. If you are a retailer you can casually chat up and ask the customers what they are looking for and what could be included in the offer. If you have a massive following on social media, you can use it to your advantage to increase the engagement with the shoppers. 

 

  1. You have to ask around the supply chain. You can ask your distributor or supplier, as they have the maximum insight about the products which are selling like hot cakes. This may even help you in signing a big order. 

 

  1. You should compartmentalize your product and arrange them. On any ecommerce websites, there are notations like ‘for him’, ‘for her’, ‘for the home’, ‘for little ones’. This makes your platform user friendly and products are more accessible to the end customer. 

 

  1. Ensure that there are some last-minute deals and packages for every category. All the shoppers are not early birds. The last minute buyers are impulsive and definite shoppers. 

 

These steps are not the only way to go. You can choose from many other options. You can target a different section of buyers, like the ones who are looking for return gifts. You can also include package deals with assorted products, this helps you to tap into the pool of confused shoppers. If you are printing your gift guides and distributing them in the old fashioned way, it might help depending upon the location of your store. 

 

Conclusion: 

It doesn’t matter whether you sell online or offline. The shoppers are getting smarter and better at finding the best possible product with the greatest deal. If the buyer is hustling, you have to keep up with them. Take caution in creating your gift guide this holiday season and make the most of it. You have to use all the platforms at your disposal like social media and word of mouth. While you are dealing with gifts, make sure that you pay equal attention to packaging as well.  ')}

The Tactics and Types Of Guerrilla Marketing

Guerrilla marketing is defined as an advertisement strategy in which a company uses surprise and/or unconventional interactions in order to promote a product or service. It is a type of publicity. The term was popularized by Jay Conrad Levinson’s 1984 book Guerrilla Marketing. It is an advertisement methodology that is used by organizations to make advancements in promoting their products/services through unconventional methods. This requires a high level of creativity and the ability to understand the individual needs of consumers, this is then leveraged to design and execute a marketing strategy. Plenty of big organizations have been using unpredictable means of marketing with a wow factor that leaves an unforgettable impression on the intended audience. 

The prime principle of guerrilla marketing is to do it in small spaces at a local level. The carried out drives or publicity stunts are always executed out only in one city. The main focus is to pull the attention of small groups and gatherings. 

 

Conventional and non-conventional:

The conventional methods include print, TV, radio and other common mediums. In recent times the advertisers are trying to move as far away as possible to find new means and systems to convey their message and brand to the shoppers. Guerrilla advertising is all about establishing that connection with the brand to subconsciously stay with the shopper and persuade them to buy. You don’t have to go far on the internet to see the mind-bending creativity used by some major brands that took the shoppers by surprise. It is all about creating that experience that is so subtle but yet so effective. The advertising needs to be better than direct contact/verbal communication to the onlookers passing by. The guerrilla advertising warfare can create a long lasting impression. You don’t have to spend a fortune on guerrilla tactics for it to be fruitful. All you need is ability, vitality and time.     

 

Types of  Guerilla Marketing:

Ambient and Ambush: 

Ambient marketing is about corporate correspondence that uses physical space. It is used to spread the message of the brand from one person to another. Ambient promotions can be found anywhere from small (hand-dryers) to big entities (Petrol pumps). On the other hand, ambush marketing is co-operative promotion. It is when big brands and companies decide to hand out freebies and goodies as a way to enhance their brand presence. In a lot of athletic events we see handouts of Adidas, Nike and Puma. Something as small as a clip-button with social message is also used at times. This tactic provides an inherent mindfulness regarding the visibility of the brand.  

 

Stealth marketing:

This is possibly the most questionable way to market the product. As it is used by sneaking up on customers while they don’t realise that they are being used as a carrier of the brand name and become its marketing tool. This is often seen as doing more harm to the brand rather than being an effective tool. 

 

Viral marketing:

This is the most recent trend as there is a race to publish any viral content. As the advertisements spread like wildfire with maximum client engagement. In the era of social media, this is one tool that entirely depends on the content and the likeliness of the post. If it is not edgy enough or funny enough it won’t grab the attention that is needed. This also can be a double edged sword, if there is any customer service issue that is viral, it can cause irreparable damage to the brand image and hurt the company in the long term. 

 

Conclusion:

Guerrilla marketing has proved to be the latest trend in this new age of marketing. It is also being used as an alternative to the traditional and old-fashioned ways that demand huge fund and promise no benefits. Guerrilla marketing bases itself upon creativity and imagination. When it comes to being cost-effective, it is the go-to option. So the next time you are looking for a breakthrough for marketing your product, make sure to put on your imagination hat and try some unconventional methods that can leave a long lasting impression on your shoppers.  ')}

Pink? Blue? Or Neither?

The market is flooded with gender oriented products. Sometimes even for the same products, you can see the shelf for the blue and pink section. From baby products to adult requirements, everything is decided on the basis of gender. The market systems have been found to treat men and women differently. Gendered marketing is explicitly defining priorities, requirements, and challenges faced by women and men. This is done so that the gender differences are prominent in your programme strategy, intervention design and organisational practice. In this blog we will weigh in on both(Gendered and gender-neutral marketing) and let you choose which work frame is more suitable for your business.  

 

Gendered Marketing: 

The basic idea is the blues and pinks, but in the past few years the gendered marketing has changed substantially. The sociocultural context and the buyers psyche plays an important role in defining their consumer behaviour. Men tend to have a very straightforward approach to buying, they know what they are looking for, hence a very linear approach. On the other hand women’s behaviour is different, they have a spiral of thoughts and usually end up buying more than they were looking for. Gender marketing covers all aspects including sales,  gender-specific demands while promoting and distributing the products, as well as business communication strategies. The companies have to keep in mind the basic 5 P’s of marketing (product, price, promotion, place and people). The advertisers can design tailor made campaigns addressing to different demands and preferences of men and women.  

Gendered marketing accounts not only the physical uses of the product/services, but also the psychological associations with that product. The most successful brands for products and services are still using different takes for both genders. Products like shampoo, razors are basically the same but they are sold differently for men and women. There is a remarkable difference in their prices as well.   

 

Gender Neutral Marketing: 

Industries like fashion, toys, apparel and cosmetics (toiletries) are the products which have always been firmly targeted by respective gender. But the question arises for the brands which can persuade a gender neutral marketing. The future is more inclusive and will repel and distinguishes that tend to define them against their will. This is affecting the way brands are communicating with their audience and their demographic. There are a number of initiatives and innovations that are focusing on marketing strategies to pave the way for a more inclusive future. 

 

Conclusion: 

A lot of organizations are shying away from using gendered marketing as they want to pursue a more neutral approach and stay away from stereotypes. Since the defining and identifications of gender is changing, companies are still deciding whether to opt for a gender neutral marketing strategy or find a better gendered marketing pathway. A lot of public domains are taking offence to the disparity in the market operating systems as the women centric products seem to be more expensive as the years of marketing has been fed to them to use multiple products explicitly. The correct way to decide is understanding the product/service needs. If it can cater to even a minute number to the other gender make sure to include that while promoting. This helps to keep your marketing inclusive and not sidelined as some old-fashioned attempt at churning the same wheel.  ')}

Destigmatizing the taboo of renting branded apparels

The growing trends and dire need to own every runway piece is clustering your closet, sending you into a frenzy. It is time for shopaholics to consider a much more effective option of renting your favourite lenghas, sarees and Dresses. As much as it may sound unconventional, we will be destigmatizing the taboo of rented apparels and providing you many reasons to not spend the big bucks in owning the designer pieces but rather renting them out. Your best bet here will be the rental websites and exclusive stores providing you all that you need for your special day or if you are looking forward to being a part of someone’s special day.

 

Why Rentals?

To be a fashion head is more complicated than it seems, you have to be updated with all the latest trends and ensure that you are on top of the Instagram game whilst you dominate other social media platforms. From your outfit of the day(OOTD) to your spring collections, you feel like owning everything. To do this you don’t have to own every single piece of clothing you wear. You can always have your evergreens like a ravishing white shirt or a blue denim or even your leather jackets. Here we are talking about the outfits that you might put on for a couple of hours and it will embellish your shelf for years to come, the only memorable achievement of that dress is to be passed on to your next generation(who might not care about it). Keeping the bigger picture in mind let’s weigh in on all the benefits of rentals. So don’t hesitate or feel coy to pre-worn clothes, it can relieve you from your routined shopping spree.    

 

Benefit:

Rentals is not only about saving money, it also saves you a lot of space in your wardrobe, which otherwise can be put to good use. Besides, as a byproduct you save tons of time in the process. It seems like a win-win situation where you get to be with the current trends, save time, energy and money. 

 

Options:

It is every shoppers nightmare to repeat clothes in family functions. Imagine an opportunity to wear different outfits for every occasion without tiring yourself with hours of shopping. In case you are unaware of the fact that the fashion industry is one of the most polluting industries, the rental option can also nudge the eco-friendly in you. It seems like a small step but as we know small steps can go a long way. 

 

How to get Rentals?

Now that you are aware of the benefits of rentals, let us also tell you that you can find the best rentals in the online as well as offline space. You even have the option to select brand and manage your search accordingly. If you are planning to attend an outstation wedding, you can rent your clothes for 3-6 days as well, with applicable charges. If you are a social media person, just a simple search on instagram can provide you with multiple options. Refrain from being skeptical about the quality and hygiene. These companies take great care of their customers and their apparels. The clothes are cleaned after every use, they can even help you get it customized as per your size. 

 

Conclusion:

If you are looking for a seamless fashion experience, then renting clothes is the way forward. As per market studies, more and more people are turning towards renting their branded clothes rather than buying. You can either spend hours shopping and spending money, while the clothes you buy, cluster your closet and leaves you stuck in maintaining the apparel for years. Renting clothes might not be the traditional way to go, but in this day and age it is the most modern way to stay in style without the hassle. ')}

Binding logic and intelligence: How to improve Knowledge Management?

What is Knowledge Management?

It can be defined as the procedure involving and arranging corporate knowledge and resources. It entails the acquisition, creation, dissemination and utilization of knowledge. You can understand it as a practice that includes not only the information from the company’s assets but also their employees’ experiences and inputs. According to Business Dictionary.com, it is based on two critical activities: capture and documentation of individual explicit i.e. tacit knowledge and its dissemination within the organization. This helps the organization in a refined decision making. In this blog we will understand how knowledge management is an integral part of the e-commerce industry and how is KM helping the ecommerce domain in enhancing it’s capabilities. Let’s start with the key parts of the system; acquisition, creation, dissemination and utilization.   

 

Acquisition: 

The major source of knowledge is through external sources and companies should have a holistic vision of the process-chain. These sources can include suppliers, competitors, partners/alliances, customers, and external experts. In order to accumulate information, companies can collect feedback and process marketing related information by collecting suggestions and involving it in development/design. The IT establishments can come in really handy in this situation as the sources are mainly humongous and they require rapid updation. Tools used for data mining and analytics, document management systems with suitable search functions, and expert systems are most relevant here.

 

Creation:

In the ecommerce industry, The creation of knowledge is involved in the effect of knowledge conversion. Knowledge conversion is an amalgamation of tacit and explicit knowledge. Creation is the main reason for gaining competitive advantage in the ecommerce economy; in this system the creation of new ideas and innovative methods for marketing the existing products or services and upgrading the old products to brand new products are all based on these ideas. 

 

Dissemination: 

The dissemination depends on the competence of company used systems and the number of employees. Developing questionnaires regularly and circulating them to collect a generalized feedback/experience can also help. The available options here would be to either create a centralized but complex sheet for seperate teams and work domains or to create a single & easy questionnaire with multiple choice questions, covering different domains. There are few management tools used to simplify this procedure. The use of intelligent search and filters helps employees place and locate their required knowledge base. Subscription to topics allows employees to keep a tab and stay updated with the latest developments pertaining to their area of work.   

 

Utilization:

With Knowledge management many organizations look out to acquire or create potentially useful knowledge and to make it available to gain optimum effective usage for an enhanced organizational performance. There is a general belief that when any organization raises their effective knowledge utilization, even if only by a small margin; great benefits can be reaped. 

 

Conclusion: 

There are plenty of options in conceptualizing knowledge management into the e-commerce ecosystem. Many of these organizations involved in the electronic commerce are already understanding the significance of managing the customer feedback, attitudes and behaviours. The companies have to make sure that they make the most of the knowledge at their disposal and even find new ways to collect and manage more information. There could be different approaches to set up the system at an enterprise level, it can be customized to specific needs of the employees or customers. The deployment and outlines in the processes relevant to knowledge management is most important in the context of electronic commerce.  ')}

Is AI Conceived To Be A Threat Or Convenience To The Fashion Industry?

A well established industry like fashion is still on the lookout for modernizing itself. AI is inherently changing the fashion industry at every level of the supply chain(design, manufacture, logistics, marketing or sales). AI is transforming and adding more value to the way apparels are manufactured or the way they are being sold. The global value of the fashion industry is amongst the largest, estimated at around 3 trillion dollars as of 2018 and with a market share of 4% globally. One of the major reasons for this is the individuality that buyers connect with, while purchasing clothes. As AI is helping the industry grow it is also raising a few challenges. In this blog we will understand the changes AI has brought and the challenges it has created.  

 

The convenience of AI: 

Fashion industry has to give weightage to demands and brand management as much as it gives to designing and manufacturing fashion products. Many brands are regularly finding innovative ways to get their products for buyers to see and create brand awareness to generate demand. Plenty of brands using AI and machine learning to increase their buyers’ shopping experience, refine the sale systems with automation, and grow the sales procedure with predictive analytics and guided process. Plenty of fashion sites are using AI like chat boxes and automated response to FAQ’s which are making the user experience better and helping them with post sale services. These conversational interfaces also help brands to collect data and understand patterns, trends and suggestions that help in upselling. The chat boxes are capable of solving small and generic problems providing customer satisfaction.        

AI is also helping the E-commerce fashion brands with the help of Augmented reality. The buyers can shop with smart image recognition system where they can take pictures of clothing and try on their virtual self. 

The constant changes in the designing of apparels are also making the most of AI. The designers and retailers have to keep in mind the upcoming trends and fashion waves to predict and design accordingly. They have to also be careful that while being in production the trend should not go out of style. This is where AI comes into play, it help manufacturers and designers to understand the seasonal trends and plan accordingly based on the data of purchases and searches. It is not always accurate as the sale can be dependant on many factors and can vary from the predicted numbers. However, it is estimated that with the help of AI the errors can be reduced up to 50%, in hindsight that are good odds for the designers and the manufacturers.    

 

The Challenges: 

As AI is making lives easy it has also raised a few new challenges for the industry to face. As for the designing field, it often includes the intricacies of the artistic works. The hand woven materials, embroidery and regional designs. With the dawn of AI, many brands are opting for machine made designed as they are affordable and require less manpower. As for big labels, they still opt for hand made designes and work so that the brand value increases. It catapults the prices and makes the product premium stating the amount of hours individuals have put in the product. Since it is not an economic option, it is not possible for common retail sellers to source their apparels from artisans. Hence, it is putting people out of jobs and somewhat compromising on the value of the art that had made it famous in the first place. In addition to that it is also increasing the prices as anything hand-made makes the product exotic in the global market. 

 

Conclusion:

It is crystal clear that in the future of fashion industry, AI will be involved for its advancements and machine learning technology. Manufacturers, designers and retailers will  leverage AI to uplift cost efficiency and give a better shopping experience to the shoppers. If implemented correctly AI does provide a competitive advantage by using every data at its disposal. There is a slight worry as where it is taking the art of designing and is it making it completely artificial by eliminating the human touch. We have to wait and observe.   ')}

Online return: A double edged sword

Online return was supposed to be a catalyst to bring more business. But as e-commerce is becoming a household practice it is becoming a plaque. It is rapidly affecting profit margins, slashing conversion rates, and eventually affecting bottomline. When a product is returned or exchanged the seller has to bear the supply chain cost as well as declined resell price. The returned or exchanged items cannot be sold at original price. This issue is more serious with fashion items. In this blog we will understand how online returns are affecting the e-commerce industry and if you are a seller how can you reduce your loss whilst handling returns.

 

The only advantage: 

Online returns is the second biggest reason to drive shoppers. The first is free delivery. As per many market reports almost 30% of all the online bought products are returned. An ultra-generous policy, operated and managed well, can drive growth. 

 

What do the experts say?

“Returns are so misunderstood that retailers have accepted them as the cost of doing business,” says Peter Sobotta, CEO of ReturnLogic. If you question a retailer what they are expecting they would never look for more liquidity in the procedure or returns. They would rather want to acquire manage and grow their buyers, in other terms profitability. The thing that can make a difference is a friction-free return policy. You have to draft one that offers minimum 30-day window for free returns and attract browsing shoppers to convert them into buyers. You need to have a front and centre way to tackle with serial returners and a well operated logistics infrastructure.

 

The Dilemma of Return Logistics: 

A market study found that many of the online retailers are not well equipped with return logistics hence costing them in margins. The Reverse Logistics Association explains that managing the “return and repair” process accounts for 10% of total supply chain costs. Having a concrete, well tailored procedure for taking care of returns can help make reverse logistics much easier. Initially you have to ensure that the pre-purchase return policy is crystal clear. Then, you can use multiple tools and programs(which are easily available) to track and monitor these returns. You have to carefully pay attention to every client and distinguish between buyers who often return and the one who seldom do. 

 

Conclusion: 

The reality of the buyer is that they buy with an intent to immediately return some or all of the products, it is for them to “try” and see. This costs a lot and is one of the major reasons for driving the prices high. Companies are putting additional efforts in handling reverse logistics. Returns are becoming the enemy of many retail brands. The online returns are already a major factor for e-commerce industry, hence not providing returns will affect sales and revenue. Many E-commerce pundits believes that the case online returns is too far gone and it is already eating the business up. If you are a seller you cannot pause the return, all you have to do is to work your way around it.  ')}

The Future Of E-Commerce Is Augmented Reality

In this day and age where real is virtual and virtual is real, augmented reality is revolutionising the e-commerce industry and online shopping, one experience at a time. The Augmented reality also known as AR can add so much to the millennial shopping experience. As one of the most common challenges faced by the e-commerce industry is keeping the millennials engaged, to understand the needs of the customers and provide personalization. AR is the best way to reach out to such problems and provide a solution. The ultimate gap of personalization is filled with virtual reality. It enables the ‘try on’ experience. It gets easier for brands to boost their customer satisfaction and stand out.

Amongst all the new and emerging tech AR is taking the e-commerce industry by storm. With the help of AR the e-commerce has transformed itself into an advanced and well functioning retailing platform. The industry is experimenting and introducing new ways to keep itself afloat in this ever changing market.

 

AR for beginners:

If you are looking to buy anything online and you can check how it would look on you, it would help you understand the product better. The eyewear websites that capture your picture and visualize the different frames, or the furniture store that help you check the dimensions of the product and how it would look in your house. This is all a part of AR, lately other fashion fields like watches, shoes and even clothing brand are using AR to enhance the buyer experience.

 

How is AR beneficial?

There are multiple aspects of AR like storytelling, curiosity, accuracy and personalization. The buyers cannot hold themselves when it comes to the AR experience. It keeps them engaged, they always try on more than they wanted or needed. This makes them spend more time on the websites and be more engaged in the process. With the help of 3-D visualization the buyer can make an accurate decision. AR reduces the chances of returning, as the product is tried and tested virtually. AR is also providing in-store experiences. Devices can superimpose 3D objects in various spaces, giving customers a chance to interact with digital renderings from the comfort of their own homes. Accessories, watches, footwear, furniture and glasses are ahead as they are using AR to optimize their sales.

 

Let’s also evaluate the psychological reason as to why using AR can help your business.  

The buyers get a higher sense of ownership, this enables them to feel that they are in control. Since AR is a relatively new experience, it immediately becomes charming and interesting. Accurate judgement of the product with trial can also work. It helps in visualization and understanding what may or may not work. The reviews also play a major role, as the previous buyers have put up their reviews after checking the product virtually and then physically after buying. You can judge the gap between what is shown and what will arrive with the help of reviews.You can explore the looks and features in detail. The 2-D layout has restrictions on the other hand AR is taking product projections to new horizons. The average time spent on a website is claimed to be between 2-3 minutes, where as if the buyers are using AR, they tend to spend more than 5 mins. The doubts are minimised and in some cases eliminated.

 

Conclusion:

You must have seen many top brands using AR and how popular they have become in a short span of time. If you’re a retail or e-commerce brand looking to stay competitive, you don’t want to miss the new wave of augmented reality innovation. The entire supply chain and the purchasing pathway has changed. Many websites and brands are losing their loyal customers as the buyer is getting nitpicky and more pressed for time. As the current studies suggests that more than 70% of the buyers expect the brands to provide them with personalised offers and tailor made experience. The buyer always wants the entire shopping procedure with them in the centre, be it on mobile, on the web or in-store. As soon as the buyer feels that his/her needs are looked after, they are sold and they always return. ')}

Analysis of Performance Measurement Tools For Offline and Online Marketing

If you are an online or an offline seller, tracking and managing your marketing tools performances can require astute attention. You have to look onto your social media performance as well as direct marketing. You need to strategize to manage these marketing tools and analyse them for future optimization. In the process, regardless of the reports and results, it is easy to miss out on important analytics as it can be too much on the plate. In this blog we will talk about the types of tools used in online and offline marketing, what you can gain from these performance measurement and how it can help your business. You can bifurcate and structurize all these tools at your disposal and organize them so that you can have a clear picture to understand which is working in your favour and what can help your business grow.

 

What are Online marketing tools?

Online Marketing is the go to option in today’s digital village like enclosure. There are multiple options that you can opt out for while choosing online marketing to promote your business. You have platforms like social media, webinars, phone/video promotions, blogs/online publications, email marketing, online advertising, and group/online conferences. While promoting business through online marketing, your agendas can be brand awareness, business communication, lead generation and possible customer acquisition. The response rates from blogs/ online publications and webinars can be low because they require a higher attention span. You can expect quick results from online advertising, and statistics like bounce rate, clicks and views.

 

What are Offline marketing tools?

Offline marketing has always been the one to drive sales and produce revenue. It can include face to face marketing, Networking, print publications, direct mail, cold calls, print advertising, and associations/ trade shows. Direct marketing tools like face to face promotions, cold calls add a human touch to your promotions that can leave an impression on the supposed consumer. These two tools can provide you engagement and conversion rate. You can always count on offline marketing to give you a proper picture of brand performance. It is easy to analyse and track. You can aim for brand awareness, lead generation and customer acquisition.

 

Things to keep in mind while analysing the performance measurement.

Thought leadership: The most important component is deciding the agenda. It can differ from campaign to campaign. It is essential to stay focused on one agenda per campaign. Let the idea or the agenda lead the campaign so that you have a clear goal.

Customer retention and loyalty: The most important component to uplift sales is a returning customer. Engaging and upselling customers, with post sales services can also help.

Website traffic:  The online seller has to place ads and secure the best possible landing page to divert the online traffic more towards his/her website. The website traffic has to be managed properly with smooth functionality of the site.

Lead management/ nurturing: While cold calls and email marketing might help you in lead generation but don’t fall back to try other mediums. Some times unconventional methods like print publications and networking might also help you in acquisition.

Conclusion:

You might have a lot of means and tools but always spend some time in understanding which are the ones benefiting you and which are more time consuming and less effective. Using everything at your disposal might not be the smartest decision you male, rather choose few and make it more effective. ')}