Marketing Diuring Coronavirus

Should you market your brand during Coronavirus?

The Covid-19 pandemic has the world in its dastardly grip. From people, to communities and businesses, everything is currently collapsing like a pack of cards. While there are a select few businesses that face an unusually favourable combination of circumstances during this unforeseen pandemic, most businesses are now just trying to survive.

The first sector that is likely to take a hit in these testing times is, without a doubt, advertisement and marketing budgets. This leaves companies with only two choices – either cut costs or try to generate cash.

Inevitably, most companies will end up choosing the first option. They will reduce all their ad spends, curb marketing campaigns, or even worse, cut jobs in the marketing department. And there’s the also more financially risky option, and that is to spend some cash in order to generate more cash. This means the brand will have to put itself out there at this time to try and turn a profit.

What is the ROI you ask? Well, obviously nobody wants to spend more money than they expect to get back. However, there are specific rules that apply to marketing in a scenario like this.

There isn’t much you can do to change the fact that fewer people are now buying; obviously when the public’s focus shifts to survival, consumption is the first thing to be reined in. So, there will be less to be gained from an ad or marketing spend. However, if you carefully control brand perception, it can make a big difference to your brand value, and ultimately your bottomline.

It’s not like people aren’t expecting you to advertise. However, the modern consumer also knows the difference between right and wrong, and will hate to see a brand profiteering in any way from their suffering. Which is why if your brand is perceived to be profiting directly from the global economic downturn, the consumer will see through the game. If your marketing efforts involve grabbing attention surrounding an issue that people are hyper-aware of, and then capitalising on their concern, consumer outrage will most likely ruin your brand reputation.

And they also don’t want you to just pay mere lip service to a crisis of this proportion. This is possibly the worst strategy. And yet it is practiced by most brands since it requires very little effort from their end.
So, now coming to the point whether brands should be marketing themselves amid the Coronavirus crisis, there are a certain set of conditions under which it will be acceptable to the consumer –

The product/service you are offering is a necessity

If you’re planning to go full throttle with your advertising/marketing efforts, particularly if it is related to the pandemic, consumers will want to see a legitimate reason behind attempting this. So, a food delivery brand can safely and legitimately raise their marketing profile at this time as obviously the demand for food is clearly there. But if your brand sells luxury items such as watches, for instance, it will leave people asking, “why now?”

Your brand message is valuable for consumers at this time

Consumers tend to shower more praise on brands who have a clearly defined corporate social responsibility message. In the same way, consumers are also alert to brands doing the exact opposite. If you think that you have a genuine responsibility of making people aware of your products, action or stance during the pandemic, your message should clearly outline this and always keep in mind the consumer’s reduced circumstances.

But remember, consumers are not fools. They are very adept at spotting a spotting a brand’s perceived selflessness – it could be your attempt at discounts, free trials and giveaways, for example.

Your brand message does not hurt anyone’s sentiments

Emotions are running at an all-time high right now. It means that now is the time to be extra sensitive with what your brand is trying to portray. All brands must consider that while consumers are handicapped by their current situation, they are also subconsciously making a stronger appeal for fair play. So, as a brand, you will have to take call – will your marketing efforts be perceived as greedy and opportunistic, or will these efforts pay off in the long run when consumers think of you as a decent brand trying to do right?

So, play fair and always keep the ROI in mind. That way, you can still easily market yourself during a crisis like this.

Digital-Marketing-vs-Public-Relations-300x167

Digital Marketing or Public Relations. What’s Best for your Business?

When it comes to modern methods of marketing, Digital Marketing and Public Relations become the topic of debate due to the confusion between the roles each of these plays for a business. Without a doubt, they have some similarities that are more or less due to the trend of marketing being followed in the industry. But, several differences set them apart. So, what are they?

Public Relations focus more on generating brand awareness, changing public opinion and dealing with crisis. It is much of a traditional activity with the main focus on brand image optimization. Digital Marketing, on the other hand, focuses on identifying target audiences and converting them through promotional, direct marketing and advertising. So, it is very safe to say that the outcomes of digital marketing and PR end up being different.

But, that’s not it.

The difference between Digital Marketing and Public Relations makes them the best companion when integrated into a full marketing campaign. So, what are the basic differences that make PR and Digital Marketing two different parts of a single piece?

Initiating activities

Digital Marketing is a mixture of promotional, marketing and advertising activities that drives direct sales and leads. PR is more focused on reputation management through positive media coverage and communication.

Type of Audience

Digital Marketing aims at driving current or potential customers. PR is about pursuing the right audience and maintaining a healthy relationship with anyone who shows interest in the organization.

Goals

Being directed towards sales generation through website management, Digital marketing is focused more on taking actions in the interest of the audience. Public relations is about selling the company as an idea through positive communication and driving a positive reputation through an effective PR strategy.

Motive of Messages

Digital marketing activities are initiated by a company with the desire to increase sales and leads. The messages sent out for this motive are clearly understood by the audience and reacted to in the same way. Messages driven for PR activities include articles, press conferences, blogs, etc. They are subconsciously regarded as more legitimate by the consumers. Public Relations also involves authored articles by renowned professionals that receive higher credibility.

Difference in ROI

Digital Marketing is more of a business investment with the motive of attracting new customers while increasing retention as well. It is related more to paid branding and promotional activities. PR is more about the exposure of the company’s name resulting in increased credibility of the brand. It is much harder to calculate ROI for PR consulting as the change in perception and belief is difficult to measure.

Duration of Activities

Digital Marketing activities are considerably short-term activities but involve different types of activities that are planned and executed until a measured period. In comparison, PR activities take time before it benefits an organization. PR can be viewed as a long-term investment with recognizable achievements in the future.

From all the points stated above, it can be clearly understood that Digital Marketing and Public Relations are completely two different services that a company would use for increasing popularity and sales.

So, how well do they combine to form Digital PR?

The concept of Digital PR can be summed up as a relationship management function that focuses on media channels and other mediums available on the internet. In times where IoT is considered as the supreme channel to function and establish a brand, digital PR is a much preferable medium of increasing the reach of a brand.

Having said that, if we take a look at the points, Digital Marketing & PR activities might be different from each other but they are an essential part of any organization. With an effective combination of both the activities, a brand can drive attention, sales, audience, and business at the same time. So, it doesn’t change the reality that PR and Digital Marketing are dependent on each other and with the right concentration of both the activities success for any organization or brand is possible.

So, what do you think? Is your firm ready to accept the modern functionality of Digital Marketing and PR?

Startup Failure

Top 5 Reasons that Lead to Start-ups Failing. Know How to Avoid Them

We all go through a phase in our lives where we think about starting a company with some partners. But, 90% of the time start-ups fail within the initial three years, leaving behind just a corpse of an idea which could have been turned into a brand if it would have been initiated carefully.

Start-ups have always been a base for establishing any industry. All the big brands that we constantly see and hear about today, were mere start-ups at their initial stage. They grew into a brand through hours of dedicated research, preparation, and execution that was brought out through an unbreakable bond of team members.

Today, we are going to talk about some reasons that lead to start-up failure and how to overcome them.

1. Ineligibility for Market Requirements

This is one of the most common reasons that lead a start-up to the doorsteps of failure. Shockingly, 42% of the start-ups lack market demand that prevents them from gaining the required traction they need to survive.

Remedy: Most of the start-ups are initiated as a plan between some partners that thought it as a need of the hour. A start-up is not just about opening a company and hoping it would become a brand. Rather, it requires a full-proof marketing strategy determining why it will be successful, till when it will stay successful and most importantly, how it will become successful. When a business plan is initiated with a proper marketing strategy, it turns out to be fruitful.

2. Competitiveness above the Limit:

We all understand that competition is one of the main elements required for the success of a brand. But, when the competition is cut-throat, it can turn out to be a reason for a start-up’s failure. Having a first mover’s advantage in any industry is always a good thing but when you already have some established names in the industry, a start-up can be pounded to the ground due to too much competition.

Remedy: While entering into an industry, it is always a wise decision to check the industry thoroughly and prepare a report on how would your brand emerge as a trend changer in an existing sea of great players. Thoroughly check all the aspects of the industry before you take the plunge.

3. Selection of the Wrong Team

Once you are done with the analysis of the market and have a check on the competition, it is now time to assess whether you have the right team to carry out the activities in the correct direction. A team of people who do not work as a contributing factor can lead any business towards failure.

Remedy: With a cohesive group of highly motivated, persistent, and diversely skilled people, who are united around a common vision,it can solve all the issues related to a start-up’s growth.

4. Business Model not Appropriate

For any start-up to work and foster, the business model must be planned accurately. Lack of monetization strategy, focus on single-channel are some of the reasons that lead start-up to failure.

Remedy: A sound business model with confirmed ROI is the most efficient method that one can select for a business to flourish.

5. Lack of adaptiveness with Latest Trends of Marketing

In the era of digital marketing, the basic strength of a start-up’s success is being adaptive to the latest trends in internet marketing. Old school marketing is effective up to one extent but they do have some limits that would manipulate the growth of a business.

Remedy: The best method to solve such a problem is to match the percentage of old school as well as internet marketing and utilize it to work in favor of the business. There are several modules involved in digital or internet marketing and the best method to use those modules is to hire a digital marketing agency that would lead you towards success through effective marketing strategies.

It is important for a start-up to look into these factors before taking their first step into entrepreneurship. While it is sometimes unavoidable for start-ups to escape all these situations, with proper action towards the path of an effective remedy can help eradicate all the obstacles on the road to success.

Top 10 reasons to choose digital marketing agency

Top 10 reasons to hire a digital marketing agency for your business

The right digital agency can make or break any organization.

This is not an exaggeration. In fact, according to Techjury, almost 90%of startups are prone to failure, with about 20% failing in their first year of existence, and poor marketing accounts for 14% of the failed businesses.

The right digital marketing agency can truly improve your ROI on marketing investment made in the digital medium. By being able to accurately analyze current marketing trends and data about your customers and target audience, a digital marketing agency can help you establish your business goals and strategies that will further drive up ROI.

Here are the top reasons to hire a digital marketing agency

1. You get to focus on running the business

Just like how a Chartered Accountant solves all your tax worries, a digital marketing agency will free you from taking care of day-to-day marketing needs, and instead, let you focus on the other important aspects of your business. This could range from deciding on a new revenue stream, hiring more professionals, fixing up operations, and much more.

2. Cut down unnecessary marketing costs

A lot of businesses fail because they are unable to manage their cash flow efficiently.  That happens when you hire multiple people for different roles such as Marketing, Content Writing, Graphic Designing because you end up paying much more in salaries and hold up spending on marketing efforts that may actually boost your business. On the other hand, hiring a digital marketing agency is cost-effective.

3. Get measurable and actionable results

A digital marketing agency works well because they are trained specifically to do that job. Hence, they can provide companies relevant analytics and reports that give you a measure of the results you are getting through all your marketing efforts. This proves the effectiveness or ineffectiveness of the approach and helps you tweak your marketing strategies accordingly.

4. Access to the latest marketing tools

A digital marketing agency is always updated about the latest developments in marketing tools and the associated technologies, which further helps in getting out useful data from marketing initiatives. Considering that the tools are applied to various other projects handled by the agency, the cost of acquisition is distributed accordingly. But as a single entity, you are likely to incur more cost in purchasing these tools.

5. Gaining new perspectives

When you have an in-house team taking care of your digital needs, they are usually limited to a single perspective since this is the only client they are working on. But when you hire a digital marketing agency with a background across sectors and industries, they bring fresh ideas to the table and help you perceive your issues in a different light, which your team may have missed.  You can then tap into this experience and leverage their learnings for more growth of your business.

6. Scale without hiring

When your business grows, you usually end up hiring more people too. With a digital team, the issue is that the costs associated with hiring people are huge. Instead, hire a digital marketing agency so that you don’t have to get into the hassles of long-term hiring and salary payments. Business needs to keep changing and you can engage a digital marketing agency according to those needs.

7. Build a great digital presence

All your potential customers are probably doing online research about you and your rivals before making a purchasing decision, so we absolutely cannot overstate the importance of having an excellent digital presence. Unless you have lots of time to publish web content and manage social media accounts, it is best to hire a digital marketing agency to do the job.

8. Achieve goals in less time

The first job that your digital marketing agency will do is to set goals for your business. The right digital agency will be knowledgeable on the best approaches to extracting your business’ real goals. And to top that, they will also help you design and implement the best strategies to meet the objectives.

9. Help evaluate what competitors are doing

Digital marketing agencies have expertise across industries and clients, hence have better knowledge at measuring competitors. If you see that your competition is doing better than you, hiring a digital marketing agency will be your best bet to see what is it that they are doing to generate more leads. A digital agency will keep a close eye on your competitor’s strategy through tools.

10. Your brand gets more recognition

According to some studies, expenditure on digital adverts and media will hit US$375.80 billion globally by 2021. Online marketing is a crucial way for global outreach for businesses. Digital marketing agencies will dedicate their services to ensure that your brand gains extensive recognition and stands out amongst the crowd. The agency will make sure that the right people are talking about your brand and reach the target audience more effectively.