Why low cost items are still a hit in the online space?

Before we begin the discussion, the first and foremost question that we would like to discuss is about the pricing of the product? As an intelligent customer ‘Would you like to buy an expensive product or a budgeted one if they reflect same quality and texture but is different in terms of brand? As per the research, it has been observed that 95% of people would like to prefer the budgeted product irrespective of the brand.

Due to rapid developments in the e-commerce and retail markets, the diversity in the market and the products offered has gone to new level. There are a lot of product variants available, with good quality texture offering a good level of satisfaction to the consumers. Therefore the mentality and the thought process of the consumers have diverted from the expensive and branded products (as far as rich and super rich customers are excluded) to the less expensive but good quality products.

For e.g. if we take into consideration the case of mobile phones, Bikky Khosla– chairman of the Assocham National Council on e-Commerce & chief executive of B2B marketplace Trade India clearly says that with the availability of low-cost smart phones, the e-commerce opportunity will increase manifold as it gives the people to select from a wide variety of options to explore.

A smart pricing strategy i.e. (low cost pricing) is a must while selling the products, services and subscriptions for succeeding in a competitive marketplace. People are increasingly looking for low cost products in different segments such as electronics, household, garments or services due to presence of wider choices products.

In order to fuel the thought process of the customers, companies and firms are adopting the low cost strategy apart from (differentiation strategy and focus strategy) that are being used to implement low pricing  to motivate demand and gain market share.

A low-price strategy involves pricing the product to be the lowest in the market and then targeting those consumers, who are looking for the cheapest option in that category. For e.g. the e-commerce websites such as Flipkart, snapdeal and amazon are focusing on low but good quality products to increase their customer base and they have succeeded as well in doing so.

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Hence the most profitable customers for the companies are the ones who are their long-term customers. And for maintaining a long term relationship with the customers, low pricing of the product is a good tactic to keep them attached to your company.

We hope that as our valued reader, you would have got the basic idea of pitching the price of your product right. We would be providing you with valuable insights on these topics on a regular basis to keep you abreast to remain competitive in the market. Enjoy reading the content.

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Is posting anything on social media engages more customer or posting to the point?

Several years down the lane, if we look into the advertising section there wasn’t much to be explored. Companies used to reach their customers via different media formats i.e. newspaper, radio, TV, and billboards etc. But due to the emergence of the social media, it has fundamentally changed the way companies communicate with their customers.

Social media has provided a platform to give birth to the two-way conversation, what earlier used to be a one-way dialogue. Social media has become a great channel, which allows a company to receive feedback (both positive and negative) through which they can use to improve their products and services considerably.

Now the question comes into light that whether the social media postings should be done to the point or should we simply post the content?

For brands to be successful on social media, they should reflect and offer value to their audience. Brief and ‘to the point content’ is the need of the hour, as people don’t have ample time to read useless stuffs leading to their wastage of their time. No-one is going to pay attention to stuffs which is not of their concern on the social media. If you keep advertising yourself, it makes no sense. Therefore, it’s very important for the organizations to post well defined and to the point posts that will not only depict clear message to the audience, but will also help organizations to develop relationships, communications, boost credibility and  invite intellectual conversation with the customers from across the world.

For e.g. if we take example of chobani’s pinterest account, chobani caters to its audience with valuable tips and suggestions for maintaining a healthy lifestyle and lead a healthy living. They use their pinterest account as a social platform to share recipes, workouts, inspirational quotes, ideas for setting up the kitchen and many more suggestions with superb assistance.

 

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Use of the social platform as an ongoing source of timely and relevant information in the area of expertise in a curator summarised manner, is what customers are looking for, from their clients.

Facebook, Twitter, Linkedin, Instagram are some of the powerful social platforms that promises a vast ocean of opportunities provided the user promotes and posts engaging media content for the customers to promote a two-way conversation and increase the brand craze with optimum effect on the company customers base.

We hope that our contribution can bring about a change in the way you handle social media. Our aim is to educate our readers to exhibit change in their business. We would be happy to receive feedback from our readers if they have any.

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How your online store can attract more buyers?

Simply launching a website with flurry of products or simply blasting your website URL to uninterested parties is not going to work because no one is paying attention!

 

Attracting buyers or customers is not an easy child’s play; as it requires certain blend of marketing strategies and social connection. If we talk about marketing your business on social media, it can promise a good return, but simply posting your online store URL on Twitter or Facebook is not going to get you customers.

 

Creating a connection with your customers is a valuable asset that can create a long lasting effect. This is because the customers don’t necessarily shop at your store because of your products per se, but because you have created a connection. They want to buy from your store because of the personal touch and aura of your products.
Since the buyers or the customers are looking for unique products and excellent user interface, hence in order to maintain uniqueness in the user interface and the products of the website, it’s advised to update your website regularly. This will not only attract new customers, but also maintain a good relationship with the existing customers.

A blog is an exciting medium of communication to provide information and engage customers in their required field of interest. So just putting your thoughts concisely in the articles that fascinates you will help you in attracting more customers and keep your one time visitors coming back. For e.g., if you are a proud owner of a retail clothing business, then an article like ‘5 Must-Have Fashion Trends for Fall’ is a good option to engage and interact with your customers.

In addition to the interactive words, a blog can also help your website to rank in top search on google web pages (with the help of SEO), if you use proper defined keywords, thus pulling a large number of online visitors to your webpage, hence increasing your sales indirectly.

Secondly in order to supplement the site visits, invest in professional writing and web design. Quality professional services will improve the relevance and authenticity of your website and will make it more appealing to the visitors, both of which can help you generate higher traffic volume without any constraints.

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And most importantly, promote your business or website passionately through local news websites, ad banners, website-related blogs, consumer forums & online communities. These platforms will act as a great source in providing you the much needed niche in the market leading to increase in the consumer base.

The above discussed methods are proven online marketing strategies that have yielded a great return to the sellers. We hope these tactics will prove to be fruitful for the readers cum sellers to achieve their targets to attract more buyers. Keep reading these blogs for valuable insights on Online marketing in future.

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Home décor and Footwear Products would have more demand in 2016

India is changing, and faster than we think. Political stability and improved economic conditions have led to the increase in consumer spending. The Indian consumer market with 1.2 billion people, a huge middle class and 3rd favorite destination for investment has attracted a lot of products in retail, out of which Home décor and footwear products commands a lion share

Due to the growing consumer awareness and subsequent demand for quality foreign and domestic brands that have entered the market in the past couple of years, the urban home furnishings and décor in the retail sector of the country has grown by leaps and bounds. As per the CEO of Sohum Shoppe ltd Siddharth Jalan–‘An increasing number of consumers are seeking complete home solutions under one roof, given the situation segments such as home decoration, home textiles, and houseware, these are integrating into a new single category.’

Moreover, discerning customers are travelling around the world and coming back to shop with the thought that the home decor products inspired by Indian design, tradition and culture are a reflection of their own environment. High-end stores such as Casa Paradox, Bungalow 8, and Good Earth are quick to sense the opportunity and have taken several measures to woo customers. So it’s quite evident that the demand for the home décor will rise considerably in 2016.

Over the last decade, India has witnessed a sea change in the footwear industry, from a basic need based industry to a fashion Indian footwear industry. The Indian footwear industry has developed substantial links in the global production network.  Therefore, manufacturers are gaining momentum by increasing their product portfolios into other types of footwear, by introducing new designs and shades at lower prices than global players, mainly within sportswear.

The increasing diversification of products into other footwear by domestic manufacturers will support the growth of footwear in India during the forecast period. Moreover, the penetration of Global brands like Crocs, Skechers, Egle, Louis Alberti etc in addition to the regional and domestic brands into rural India will support overall growth during the forecast period till 2016.

 

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To add boost to the industry, brands such as Steve Madden, Lotto, Hush Puppies and Puma have gone through the licensing route, whereas other companies like Reebok, Pavers England, Gucci, and Adidas have formed joint-venture partnerships with Indian partners.

It’s a great sign that the Indian consumers are on the wheel of spending spree, in terms of home décor and footwear, which will consequently increase its demand in 2016. Hence the sellers or the retailers have the best time to exploit the opportunities and turn their fortunes in their favour.

Hope this article gives a briefing about the Industry trends to our readers. We promise to deliver interesting and informative articles in coming weeks. Stay with us for regular updates.

 

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Do you think investing in your brand would give you more mileage over others

For a second, let’s hold our thoughts and go through a quick understanding of brand. What is brand? In layman terms or in simple terms it is a claim of distinction which represents unique identity. In business and marketing terms, it is a profit contributor and a business builder that reflects a tangible value on a balance sheet.
Before discussing on the importance of investment in brands, it’s quite important to discuss some facts that will depict a clearer idea on the importance of brand. Some of the facts derived from the studies have shown that the number one brand in any given category can command a 10% price premium over the number two brand. Consequently, Consumer loyalty to a brand can generate a recurring revenue stream through repeated and referral sales. And obviously, a company with strong brand recognition is judged more valuable in monetary terms versus an unbranded company.

Whenever we talk about a company, brand is what distinguishes it in the market. Unlike a tangible asset, brand isn’t something you can hold it physically; instead, it is the collective effect of thoughts and feelings that customers experience when they come into contact with the company product or service. But more importantly, other than the claim of distinction, brand must also provide evidence of distinction that should reflect a promise made to its customers to deliver what it has claimed.

So the main question is whether investment in brand is necessary to improve its mileage or not? The best answer is yes. This is because Investment of Money, brainpower, marketing tactics and time are some of the important ingredients that fuel the process of discovering and developing your brand. It works best when facilitated by experienced brand and marketing professionals. Unearthing your brand begins with an in-depth inside look into your company.

For e.g. if you get a chance to visit the www.brandunion.com website, you’ll find a lot of world class companies have invested heavily in their brand for repositioning and revamping, which in turn will increase their market value.

Brand has an enormous power and value, when you take time to dig deeper into your brand and its role in the market, you will begin to understand its power. Always remember that brand is what will help you to build business. It’s the high value component that elevates a company and its product to the next level in the competitive market place, hence investment and right business approach can help your brand to breathe the air of uniqueness and enjoy the positioning in the market.

 

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We hope that these discussions and thought sharing will bring about some change in thought process of branding and its importance. Keep reading the blogs for intellectually stimulating thoughts on branding. If you have any views to share, we would be happy to publish it.

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Displaying the products online can be a game changer

There is a famous phrase in Hindi “Jo dikhta hai woh bikta hai” which has astounding influence in the e-commerce and internet domain besides its influence in our daily life. The application of the quote, if done in the real market scenario can change the dynamics of the e-commerce market. Basically, it all about displaying the products, its features and details on the Online platform to attract and educate the customers about the product, which has direct implications on the thought process on the customers. In professional terms, it’s all about Online Merchandising. For e.g. Amazon – one of the biggest online shopping portal has beautifully cemented its position in the market with its multitude of products under different segments. Amazon has turned sweet sixteen this year, and by extension, so did online shopping as we know it.

As online shopping has grown over the past 16 years, the user needs and expectations related to the online shopping experience have changed completely. Setting up shop online is easy, but creating an experience that satisfies target users is a different story altogether. Displaying the products in well detailed and structured form, in addition to excellent user interface is one of the methods of creating an exciting experience to the targeted customers.

There are certain strategies an online seller can adopt to create a pleasure able experience to the user. In order to display your products effectively, use categories to help shoppers find products of their choice. Further, site hierarchy—i.e. how products are categorised is also a great way to make your website user friendly and well organised for the shoppers to complete their purchase.

The key to using categories in merchandising is to supplicate a category structure and category labels that resonate with shoppers and makes it easy for shoppers to find the product they want.

As an example, consider the navigation on the Flipkart site, which sells almost all products ranging from household items, mens and womens wear to electronic appliances etc.   The Website is properly organised with categories and sub categories of all the items under several domains and as a result it commands respectable amount of customers and made it a superb success in the e-commerce world.

 Therefore, the products that you sell should be well structured consisting of details and description about it, as these are some minor rules of online merchandising that can act as a game changer for the seller in a long run.

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Certainly in web design! Flat colors are in Demand, Find out why?

Certainly in web designing industry, the most fundamental thing that the designers look for is to keep the elements with sharp and clean lines that result in maintaining a minimalistic look. This is because this look reflects neatness, quality, and a sense of perfection. For this, usage of flat colour is done in website designing to increase its quality and sharpness.

Now, the bigger question that most people ask is like most new trends, why we should use flat colour and design when it comes to our design projects, especially when more decorative, 3D elements have taken such a dominant role within technology?

The reason behind this question is that by adopting a flat design, you can take a step in different direction since it’s a refreshing direction for the design community, whether you are for the trend or against it.Flat colours and design has its own share of taste features a classic flat design. In this type, there is no depth, no gradients and no shadows to any element. Moreover, they appear to be entirely integrated into the background.  For e.g. Windows 8 User interface (from Microsoft) is a very good example of this approach.

Since flat colour and design often includes fewer effects like shadows, gradients and other filters, therefore it requires less amount of care when transforming a design straight from Photoshop, Sketch (or any other graphic design) software into HTML/CSS layouts. Further, the flat design is focused on the content. It heavily depends on great typography and often uses a broader colour palette to increase contrast between different areas and interactive elements and hence in turn we have to deal less with image assets, such as background textures.

Having a well organized design file without a wide variety of layer masks, layer styles and colour filters is pure gold as it dramatically speeds up the workflow of exporting assets and transforming layer styles into CSS. These technical features make the use of flat color a better and preferred option for the website developers.

If we look into different high quality websites such as Homeaway, Airbnb etc, probably we can notice these websites have adopted a simpler approach to give a refreshing look to their website. Moreover, more and more designers are embracing the trend and implementing the design in their personal portfolios, mobile navigation menus, design agency websites, and in so many other areas to mostly positive reception.

 

Overall, the perception on the Flat colour for the website design is a great idea, provided the website designer is imaginative to bring out the best from the colours and reflect the best view of the interface that he/she is aiming to design.

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Why framing your ideas under a campaign is important. Find out why?

These are some of the samples of campaign that we come across every day. As there is a shift in the thought process of the people, the theme of presenting messages in the form of banners and posters via the campaigns has changed. Innovative ideas and out-of-the- box approach are some of the keywords that the companies and organizations should think of to create a positive impact on their customers.

There are varieties of campaigns circulating in the market to raise awareness about a product, to draft a new policy, to raise funds to change perceptions about an organization or society. It’s quite impossible to go anywhere these days, without stacked with banners, posters reflecting the messages encouraging us to do something.

In this customer-centric world, the success and sales are defined by the number of eyeballs that you can grab through your medium. In order to increase the effectiveness of your campaign and make it a success, you need to brainstorm on several ideas and thoughts and put sufficient time and effort into planning what you want to establish or what are going to do and why you are going to do it?

So the big question is ‘How can an organization expect to create a campaign that stands out in spite of so many campaigns in the market?’ Often, a simple and a classic idea can be just the thing because ideas create wonders.

For e.g. if you are an online seller looking to promote a mega sale via a campaign, then brainstorming on ideas about the campaign can be really effective to make it a success. The first and foremost thing for a successful campaign is the external factors. By considering several external factors, a seller can predict the market conditions and can consider the bet of the competitor, and what type of response one might get due to the existing market conditions.

Based on the above factors, the seller can decide the fate of the campaign by using the right words, right banner, and right positioning in the market. The best example for the above situation is Flipkart—a giant e-commerce website. It had launched the Big Billion Day campaign with a perfection that led to the sales of around 600 Crore in 10 hours. This reflects the power of effective campaigning.

 

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Effective campaigning is all about using the minimum amount of effort to achieve the maximum output. Hence, a seller can analyze the four stages of good campaigning i.e. analysis, planning, action, impact.  And by working on each of its stages, a seller can think about brilliant ideas, their available resources and can execute a dream of achieving their target with highly effective campaigning.

We hope we have transmitted our message in a clear and concise manner. If you have any suggestions and feedback regarding the same, we would be happy to acknowledge that. For more exciting branding techniques, keep following us.

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Brand message

How important is to communicate the brand message clearly

Since brand value, corporate developments have become a buzz word these days; so it would be really interesting to discuss the importance of brand communication and its positive results. So speaking about communication, basically it is the element of expression used in everyday life to establish a connection between different people, be it personal or professional. Similarly, in the corporate world there is a term used to describe the exchange of ideas, thoughts and vision with the customers through the brand known as brand communication.

Brand Communication happens when the consumer meets the brand through advertising, marketing, editorial mentions, by sponsorships, over the supermarket shelves etc. hence these platform acts as the mode of communication with the customer, which can be used to revitalize the brand value. The brand value of the company can be increased considerably, if the company becomes successful in creating the need to involve and engage the customers for a positive experience. Further, the need to effect behavior of the customers in terms of the company and its products is also crucial, as it can lead to high payback and higher conversion rates in terms of sales.

Brand communication is just a reflection of strategy. It is an element to build a positive perception of the customer towards the product and can be used to build an emotional connection, because customers will either think rationally or emotionally about your product or service; and if you build a emotional connection then it’s surely going to pay off.

Thus, find a way to connect to your customers on a deeper and emotional level. Ponder over the questions such as, Do you give them peace of mind and make them feel like part of the family? Do you make their life easier? How else do you explain the person who paid thousands of rupees buying a product on Flipkart rather than buying the same product on E-bay with equal specifications? There was an emotional voice in there somewhere, whispering “Every wish fulfilled” from flipkart that turned the customer towards it. It’s the way the brand makes you feel emotional. You feel like you belong to a larger group that’s selling more than the products, hence making a life-long connection with the company.

 

 

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Online_store

How your online store can attract more buyers?

Simply launching a website with flurry of products or simply blasting your website URL to uninterested parties is not going to work because no one is paying attention!

Attracting buyers or customers is not an easy child’s play; as it requires certain blend of marketing strategies and social connection. If we talk about marketing your business on social media, it can promise a good return, but simply posting your online store URL on Twitter or Facebook is not going to get you customers.

Creating a connection with your customers is a valuable asset that can create a long lasting effect. This is because the customers don’t necessarily shop at your store because of your products per se, but because you have created a connection. They want to buy from your store because of the personal touch and aura of your products.

Since the buyers or the customers are looking for unique products and excellent user interface, hence in order to maintain uniqueness in the user interface and the products of the website, it’s advised to update your website regularly. This will not only attract new customers, but also maintain a good relationship with the existing customers.

A blog is an exciting medium of communication to provide information and engage customers in their required field of interest. So just putting your thoughts concisely in the articles that fascinates you will help you in attracting more customers and keep your one time visitors coming back. For e.g., if you are a proud owner of a retail clothing business, then an article like ‘5 Must-Have Fashion Trends for Fall’ is a good option to engage and interact with your customers.

In addition to the interactive words, a blog can also help your website to rank in top search on google web pages (with the help of SEO), if you use proper defined keywords, thus pulling a large number of online visitors to your webpage, hence increasing your sales indirectly.

Secondly in order to supplement the site visits, invest in professional writing and web design. Quality professional services will improve the relevance and authenticity of your website and will make it more appealing to the visitors, both of which can help you generate higher traffic volume without any constraints.

And most importantly, promote your business or website passionately through local news websites, ad banners, website-related blogs, consumer forums & online communities. These platforms will act as a great source in providing you the much needed niche in the market leading to increase in the consumer base.

The above discussed methods are proven online marketing strategies that have yielded a great return to the sellers. We hope these tactics will prove to be fruitful for the readers cum sellers to achieve their targets to attract more buyers. Keep reading these blogs for valuable insights on Online marketing in future.

Read More