What are the benefits of Programmatic Advertising?

The use of software to purchase digital advertising is basically programmatic advertising. Its purpose is to replace human negotiations with machine learning and AI optimisation. The goal is to improve both the advertiser’s and the publisher’s efficiency and transparency.

This is accomplished through real-time auctions. That is ads are purchased at the same time a visitor loads a website. Thanks to programmatic platforms that have built up their ad inventory and database, any formats and channels can be accessed programmatically. It can also produce excellent outcomes for both SMEs and major companies. So don’t dismiss it because your company is small.

Programmatic advertising is a strong instrument, with worldwide spending exceeding $129 billion in 2020 and exceeding $195 billion in 2022. The United States is the largest spender on programmatic ads. The United Kingdom and China are quickly catching up.

Who can use Programmatic Advertising?

Programmatic advertising is available through a variety of digital channels, including display, mobile, video, and social. Traditional offline channels, in fact, are well on their way to digitisation as well. Out-of-home channels are beginning to advertise programmatically on digital screens in bus stations, retail malls, and billboards.

Previously, programmatic campaigns were reserved for larger budgets and media agencies. However, the rapid emergence of self-service platforms provides smaller firms with increased access to the technology and allows them to compete with larger brands without the use of expensive middlemen.

How can you succeed with programmatic advertising?

Google Display Network vs. Programmatic Advertising | Noble Studios

1. Be familiar with your market

First and foremost, conduct some research to determine who is your ideal target. As a marketer entering into a new sector of advertising, you will come across numerous new ideas and words, so take the time to familiarise yourself with them.

2. Establish your programmatic advertising goals

As with any aspect of digital marketing, it’s critical to have goals in place from the start. To do this, you should analyse existing data to decide the type of advertising awareness you require and develop an effective strategy that will assist you in determining short- and long-term goals.

3. Remember to keep the human touch in mind

Because programmatic advertising is born out of algorithms and machines, it does not lack a human touch. There are various platform kinds, some of which provide fully or partially managed services.

To plan, control, and optimise your purchasing, you will need to allocate skilled marketers. Finally, in order to achieve maximum success, you must discover the ideal balance of automation and intelligent human interaction. So, don’t rely solely on the algorithm to produce the greatest results for your campaign.

4. Try to protect your brand against false news

One disadvantage of programmatic is that its reliance on algorithms might result in ads appearing in inappropriate places, such as sites that propagate fake news such as coronavirus conspiracy theories.

Make sure your demand-side blacklist is always up to current and stay on a lookout for questionable sites.

A whitelist can be useful if your product is sensitive. This will return a list of recommended sites. It will limit your ability to reach your target demographic and possibly increase the cost of your ad, but it will ensure that no explicit or offensive information is associated with your ad.

5. Keep an eye out for programmatic ad fraud

The first step is to consider budget vs. reach. When it comes to programmatic advertising, marketers have been preoccupied with reach, which can leave campaigns vulnerable to bot misuse. When bidding for ad space, if a deal appears to be too good to be true, it most likely is! To prevent generating fake traffic, try not to focus solely on reach. Instead, pair it with traffic quality. Another thing your organisation may do is guarantee that ads adhere to privacy laws.

The process behind Programmatic Advertising

Step 1: An advertiser contacts their programmatic ad agency or trading desk to initiate a digital campaign to market their product or service.

Step 2: The agency employs a demand-side platform (DSP) to automate the process of purchasing ad impressions in order to achieve the campaign’s aim. Advertisers and their agencies can use a DSP to buy ad inventory from numerous publishers.

Digital Advertising Grew to a $32 Billion Industry in the First Half of 2016

Step 3: When a person from the advertiser’s target demographic visits a publisher’s website, the website sends an ad request to the supply-side platform (SSP). The SSP holds an auction among its purchasers, and the DSP participates.

Step 4: The DSP evaluates the ad and matches it with its data and target characteristics using the data it receives. This helps in determining the first impression’s bidding price. The procedure is sometimes referred to as real-time bidding.

Step 5: Once the impression gets sold, it will reach the publisher’s website for display. The process repeats each time a person visits the website or refreshes it.

Benefits for Advertisers and Publishers

Prior to programmatic advertising, advertisers had a tough time accessing ad inventory. This meant that 60% of publisher ad space remained unsold. Automation assisted in the resolution of the problem by making it much easier to analyse and purchase ad inventory.

For Advertisers:

Scalability- Programmatic advertising enables advertisers to reach a broad audience by purchasing ad space from any accessible ad inventory.

Real-time adaptability- Advertisers can make real-time changes to advertising based on impressions, and they can use a wide range of targeting parameters.

Capabilities for targeting- With programmatic targeting, an advertiser can utilise their budget better and spend more efficiently.

Efficiency- They promote streamlining. One can expect more relevant ads as a result of targeting. Advertisers can obtain a higher return on their investment if they have access to a big pool of publishers.

For Publishers:

Simplicity- Selling advertising space has never been easier thanks to programmatic advertising.

Communication- Publishers can easily communicate and work with advertisers, benefiting both the publisher and the advertiser.

Relevancy- When visitors arrive at a publisher’s site, the website will offer ads that are relevant to them because they are part of the advertiser’s target demographic.

Efficiency- Programmatic advertising can help publishers reduce costs and increase margins, allowing them to earn more from their available ad space.

Concluding thoughts

While digital advertising aims for a broad reach and the right audience, programmatic advertising employs precise targeting strategies based on real-time data to segment the audience. To make it easier to buy, place, and optimise ads, programmatic advertising combines the best features of technological advancements, human knowledge and expertise.

You can immediately start increasing your earnings once you grasp how programmatic advertising works and what it can accomplish for you.

Get in touch with us at Shaktiki Marketing to learn more about the most effective marketing strategy for your business.

How to ace branding in 2022?

There are countless hurdles to overcome, skills to master, and trends to investigate when it comes to a brand launch or even building a good brand. This is where branding comes into play.

Branding has always been about identifying, developing, and implementing distinctive characteristics in your organisation so that customers link your brand with more than just your products or services. It is critical to recognise that in order for your company’s brand to appear legitimate, it must encompass all aspects of your organisation. Branding humanises your company by giving it a personality and making it more intriguing and engaging.

The launch of your brand is your opportunity to officially establish your company in the eyes of your target audience. Whether you’re launching your brand for the first time or relaunching after a rebranding, there are some “must-haves” you can’t live without.

Branding in 2022

Over the years, we’ve watched entrepreneurs jump into the business waters, only to realise that hiding beneath the surface were vicious monsters eager to devour them. In 2022, branding has advanced from providing a solid market basis to presenting your organisation with a personality, beliefs, and goals that customers can identify with.

It is vital to recognise that business has progressed beyond products and services. Potential clients increasingly examine your brand first when deciding whether or not to do business with you.

As a result, failing to develop a well-branded firm might considerably inhibit your company’s growth by making it generic. It would also undermine your current customers’ loyalty, hurt consumer word-of-mouth marketing, and more than double your advertising costs.

People would pay extra for any product or service in exchange for outstanding customer service. As a result, ensure that your company focuses on more than just logos and taglines. It should also provide an excellent blend of values and visions, as well as foster strong customer relationships.

What is Branding? And Types of Branding Services

Branding Musts

1. Ensure that your audience is clearly defined

Before you do anything else, you must choose who you intend to target with your brand’s launch. Otherwise, you risk sounding cliched and unauthentic. Furthermore, having a thorough understanding of the type of consumer you’re aiming for allows you to craft a more clear and more consistent brand message.

Take the time to thoroughly research and define your target audience. Look for their likes/dislikes, values, and aspirations rather than their demographics (gender, race, geography, socioeconomic level, etc.). To prevent making the process too difficult, use professional tools. Make a note to detect trends in your obtained data so that you can pay extra attention to any certain demographic.

2. Cultivate your brand message carefully

The message of your brand refers to how you talk about yourself as a company and the value you bring. It’s utilised for everything from ad text to social media postings to email campaigns.

How to Transform Complicated Tech into Simple Marketing Messages

It is vital to have the proper messaging in place for your brand’s launch. Additionally, make certain that the developed message is transmitted and consistent across all points of contact. It is critical that your message not only aligns with your target audience but that it is also factually and grammatically correct, as well as in the appropriate tone.

3. Create a launch schedule

First and foremost, you must create a launch schedule that includes your official launch date. Avoid holidays unless the occasion has special significance for you and your brand. 4-5 weeks before your launch date is often regarded as an ideal period to conduct a “pre-launch.” During this time, you can begin to generate interest in your brand with teasers, promotions, and general enthusiasm. Leverage content calendars to safeguard and boost your social media launch.

Tips to ace Branding in 2022

1. Determine the identity of your brand

Your brand identity is more than simply your firm’s personality; it is also the promise your company makes to its customers. The identity of your company embodies what your brand says, your values, how you communicate your products, and how you want customers to feel when they connect with your brand.

2. Find a strong brand name

Every business owner must devote time and effort to creating a great brand name that not only excites their target audience but also helps them stand out.

A fantastic name is an asset that no company can afford to overlook. Starbucks, Nike, Amazon, and Apple are all successful today because, in addition to their incredible products, they all had short, memorable, and distinctive names.

3. Collaborate with other brands

When it comes to creating your brand, don’t underestimate the importance of collaborating with other local businesses. Collaborate with other local businesses to hold seminars, trade exhibitions, and charity events.

What's in a handshake? A clue to whether or not you're hirableParticipating in community events is an excellent approach to presenting your company to its target audience. You can even take your collaboration to the next level by developing a co-branding agreement with another company. Uber’s collaboration with Spotify and BMW’s collaboration with Louis Vuitton aided these companies in increasing their client base, market share, brand image, and consumer loyalty.

4. Stay active on social media

Since the Covid-19 pandemic, the amount to which our lives have shifted online has been quickly increasing. And, if a company wants to build strong relationships with its customers, it must be active on the social media platforms that dominate the internet world.

A Chronological History of Social Media

Keep up with other relevant marketing methods while acing your content marketing game. To create the groundwork for your approach, spread your brand’s content through visuals, videos, blogs, and newsletters. Further, do not shy away from strategies such as influencer marketing, contest marketing, and PPC ads.

Summing up

Companies want to be recognised for their amazing products and exceptional services, just as everyone wants to be remembered for something.

Even if planning a great brand launch isn’t easy, that shouldn’t stop you from investing your heart, soul, and sweat into producing a brand that people will love. There are numerous hurdles to overcome, talents to learn, and trends to discover. Keeping the aforementioned fundamentals in mind, the dynamic procedure can be undertaken. Learn from the success of other established as well as newly-born brands in your area.

Get in touch with us at Shaktiki Marketing to learn more about the most effective marketing strategy for your business.

Why is Quora Marketing important in 2022?

Quora is a social media platform that allows users to ask questions, receive answers, and engage with other users. Today, Quora is a massive repository of questions and answers on any subject imaginable. In fact, more than 400,000 topics are currently covered on Quora. Hence, there are a number of other compelling reasons why Quora marketing should be considered.

Quora has over 300 million monthly active users, making it an ideal content marketing tool. Hence, one of the most compelling reasons to adopt this platform is its superior SEO capabilities. 

Why should marketers look at Quora?

Quora is an excellent resource for marketing. These are the reasons why:

Increase Brand Awareness

As earlier said, Quora has 300 million monthly active users. By providing excellent answers and business to these users, you can acquire exposure to a large number of people on the platform.

Furthermore, by continuously sharing your ideas on important topics, you may position your company as a thought leader in your field. This could help your brand gain more positive attention and spread a good name over the world.

Direct Traffic to Your Website

Quora ranks for 65 million keywords and has an estimated 90 million monthly search visitors. The simplest method to get started with marketing on Quora is to look for questions with a lot of upvotes. Make certain that you just respond to inquiries that are relevant to your sector.

Keep in mind that in order to be read, the material must be SEO-friendly. Don’t forget to add an interesting and original angle to the question in hand. Refrain from reiterating previously stated ideas or solutions.

Furthermore, it will have a long-term impact, bringing you constant and predictable traffic over time. Even after you have stopped actively selling on Quora.

Assist with Customer Service and Influence

Quora is a platform where you can directly address your consumers’ questions. To ensure authenticity, you must sign up for each of your accounts using a personal email address.

You can use Quora to provide customer care to your users and to influence debates about your product or service.

How to make the most of Quora marketing?

1. Create a Quora page for your business

Make sure you have set up your Quora business account before diving in. Quora, like Wikipedia, allows anyone to build a page about anything. If you want to create a page on the web for your brand, start by looking for the brand’s name.

If you can’t find the name, simply create a new topic and give the page a name and description to get started with branding. After the topic has gone live, you may ask the Quora community for feedback, which will assist users to determine whether or not to engage with the company.

2. Find the right set of questions

How useful is getting your answer sent through Quora Digest? - Quora

Answering the appropriate questions will increase your success rate on Quora substantially. It is advised to look for questions that receive a lot of traffic from search engines like Google or Bing.

Even if you don’t intend to spend money on Quora Ads, you may still gain valuable insights from it in terms of trending questions for free.

If a question had a large number of followers, it had a better chance of appearing in people’s Quora Daily Digest. You can also look at questions with a limited number of answers or are similar in nature.

3. Maintain high-quality answers

Benefits of Typing Quickly and Accurately | Syberscribe

Before addressing every question, consider what makes you an expert or thought leader. How can you make your response stand out? So, here are a few pointers.

1) Be one of the first to answer.
2) Add value to your responses by continuing to conduct thorough research and filling gaps in the other answers. Include news, figures, studies, or surveys to back up your arguments.
3) Try to incorporate images into your responses.

4) Add a call-to-action (CTA) to your answers as well as drop in the links to your socials in the end.

4. Request a verification badge from Quora

Using this form, users can submit a request for verification to Quora. They also take note of profiles that are linked to other social media platforms such as Facebook, LinkedIn, and Twitter.

5. Try Quora advertising

Anyone can use Quora Ads to broaden the reach of their answers on Quora. Promoted Answers can be targeted in the same way that all other ad forms on Quora can. As a result, both businesses and individuals can establish a following that will be ready to participate with future responses they post.

6. Share your answers on social media

Anyone can use Quora Ads to broaden the reach of their answers on Quora. Promoted Answers can be targeted in the same way that all other ad forms on Quora can. As a result, you will be able to establish a following that will be eager to engage with your posts.

7. Repurpose your content

Previously published blog posts and articles can be reused. Simply include the link or use the material of your older posts that are relevant to your recent answers. As a result, re-purposing is an effective strategy for increasing visitors to those blogs.

8. Check your stats and stay consistent

All Quora users have access to free analytics. Make certain that the data is analysed and put to good use. By remaining consistent, you will appear more frequently in people’s feeds, resulting in more upvotes and views.

Where can I find the stats about total questions and answers on Quora? - Quora

How does Quora rank answers?

As you might think, the rank of your answer influences the amount of visibility it receives. A complex Machine Learning system may analyse several criteria and assign a rank to each answer. However, if you want to go more technical, the Quora engineering team has written a pretty technical post here.

The initial set of elements that the Machine Learning analyses are to determine whether or not an answer:

  • Provides an accurate answer to the question
  • Provides reusable knowledge
  • Answers that are backed up by logic
  • Shows credibility and is factually correct
  • The answer should be straightforward and simple to read

Other factors which might be at play include:

User Credibility: Each Quora account is most likely granted a ranking depending on how long they’ve been on the platform, how many questions they’ve answered, how many upvotes they’ve earned, and other factors.

Upvotes, downvotes, and reports: Priority is given to the answer with the most upvotes. Quora is also likely to consider the “user rank” of users who upvoted your answers.

Topic Expertise: You are more likely to have a higher rank if you have already answered a large number of questions on the same topic and received some upvotes.

Summing Up

The Internet is brimming with places to spend time that are useful, interesting, and educational. This covers crucial locations for brands and enterprises to connect with their target audiences.

Quora, the community-driven question-and-answer site, is one that keeps coming up for us. There are no drawbacks to investing your time and energy in this evergreen marketing plan. Remember that consistency is essential.

Get in touch with us at Shaktiki Marketing to learn more about the most effective marketing strategy for your business.

Are NFTs the next big thing in digital marketing?

NFTs is the abbreviation for “non-fungible tokens.” NFTs are stored on the blockchain, which includes information such as who purchased it, how much they paid for it, and how much they sold it for. They’re non-fungible, which means the tokens can’t be swapped for each other. Since a good marketer keeps pace with the advances in trends across the globe, one must not overlook NFTs either.

Consider NFTs this way: if bitcoin tokens are equivalent to blockchain-verified dollar bills, then NFTs are equivalent to blockchain-verified artworks.

Non-fungible tokens have been around since at least June 2017, when CryptoPunks, a collection of 10,000 unique digital characters, emerged on Ethereum. However, CryptoKitties, a virtual cat trading game that went popular later that year, was the first initiative to make NFTs generally known among the crypto community. People have spent $174 million on NFTs since then.

Non-fungible tokens are similar to the serial numbers that a luxury brand might provide to each of its products in order to authenticate their authenticity. There is no central authority issuing NFTs. Instead, the majority of NFTs currently in circulation are based on Ethereum. And each NFT is minted to represent a specific piece of digital asset and is confirmed by the network.

NFTs in Digital Marketing

Non-fungible tokens provide brands with fascinating new digital marketing opportunities. Because NFTs are still in their infancy, the possibilities for incorporating them into a brand’s digital marketing plan are limitless.

Offering meaningful experiences to followers and consumers that go beyond your brand’s products or services is a crucial part of any smart marketing strategy. This is exactly what NFTs provide.

They’ll assist you in building communities and developing relationships that lead to loyalty and support, as well as increasing client lifetime value. While they may not provide an immediate return on investment, they can help to support all of the other activities aimed at increasing conversions and sales.

Examples

Some companies have used NFTs as part of their digital marketing plan to buy an existing popular NFT that promotes their brand on social media in the hopes of becoming viral and reaching new audiences.

Some of the other brands which have invested in NFTs in the past year include Coca Cola, McDonald’s, Nike et cetera.

NFT
Image Source: Fortune

Other brands, such as Taco Bell, have directly incorporated NFTs into their approach. Taco Bell started selling a limited edition of taco-themed digital art NFTs. All of this helped them raise brand awareness while also helping a good cause.

NFT
Image Source: The Verge

How to incorporate NFTs in your strategy?

Naturally, one of the goals of NFTs is to boost conversions and income. As the brand enters the NFT area and offers these new experiences to the community, interest in the brand organically grows. The methods listed below can help you adapt NFTs in a seamless and successful manner.

1. Build Brand Awareness

Anything digital can be used as an NFT: a JPEG, a GIF, a 3D animation, a VR artwork, and so on. Your company is no longer limited to selling actual goods or services. Offer something unique while yet using your brand’s most authentic elements. Make sure you’re selling something that your users will find worthwhile not only to invest in but also to spread the word about. NFTs can become a part of your brand storytelling, bringing it to life through a real object that customers can possess and that embodies their brand experience.

This will result in an increase in both user-generated content and digital word-of-mouth on an organic basis. Make sure you build excitement around the launch of your brand’s NFTs.

2. Expand Audience Reach

Afraid that your brand does not appeal to the younger crowd or the Gen-Z’s anymore? What better way to accumulate their attention than by jumping on the NFTs-bandwagon.

Open the door to user-generated content, community proposals for the types of tokens they’d like to see and possess or utilise them as prizes in crowdfunding campaigns and contests to appeal to them.

This will allow you to create your own community, one that will be diverse in terms of age groups. It will also cater to practically all segments of society who choose to participate in your campaign and provide feedback. As a result, ensure that your campaign is user-friendly and simple to navigate.

3. Build your image by supporting social causes

Consumers today place a high priority on whether brands reflect their values. You can show your brand’s commitment to social causes by donating NFT earnings to organisations. Choose a cause that reflects your values and connects to what you have to offer. Don’t do anything that feels forced or out of the blue.

Alternatively, you might ask artists to design tokens for your company and reward them with both publicity and cash from their work.

Risks involving NFTs

 

Image Source: Business Insider

NFTs aren’t all rainbows and sunshine. NFTs are a risky yet lucrative investment. There are risks involved with incorporating these assets into a marketing campaign.

1. An NFT collection may not attract the community, exposure, or traction it needs to be successful, and hence will not yield a large return.

2. NFT’s success is primarily reliant on the community. Social media shares and word-of-mouth help to provide the necessary publicity and traction for a successful project. All of this is still plagued with high-volatility dangers.

3. A potential danger is having a target audience that does not overlap with the audience that follows NFTs. You may have visibility and a collectable item, but no KPIs to back up your marketing spend.

4. While there are efforts to make NFTs less energy-intensive, this is not the case right now. As a result, you may need to think about their environmental impact and look for solutions to offset some of the impacts. Also, given the high demand for tokens, new eco-friendly methods of producing tokens are likely to emerge shortly.

Summing up

Brands now have access to a whole new marketing area thanks to NFTs. This allows them to come up with new and innovative methods to engage with their fans, boost brand exposure, and generate new revenue streams. Keep an eye out for brands leveraging NFTs to draw inspiration from.

We advocate implementing NFTs into your marketing if your brand can afford the risk, has overlapping consumers, and wants to try new digital marketing methods.

Contact us at Shaktiki today to learn more about new opportunities in digital marketing.

Why is Collaborative Marketing up and coming?

Collaborative marketing is a means to pool the resources of like-minded organisations in order to achieve similar growth goals. It is one of today’s marketers favourite strategies for a variety of reasons. A huge return on investment made both monetarily and in terms of the efforts allotted definitely tops the chart. When collaborating one of the basics things to be mindful of is the degree of like-mindedness of the business you choose to collaborate with.

Factually speaking, a recent report found that businesses that collaborated on joint initiatives were $430,000 better off than those who chose not to. And that the degree of openness to collaborations was directly proportional to growth in revenues.

Talking about the benefits of collaborative marketing, it helps you boost your reach, improve brand awareness and strengthen your brand image. Depending upon the type of tactic you choose to go with, you might also end up cutting costs and benefit from combined expertise.

How does collaborative marketing with other businesses work?

A great venture requires great planning. Plan and define your goals before you move forward with a particular partnership. Get everything in an agreement and design a joint social media calendar to avoid potential misunderstandings.

Effectively identifying a business you choose to collaborate with lays the foundation for a successful collaboration. When collaborating, your main aim is to increase brand awareness. Therefore, choose a business that echoes your aim and offers a complimentary service or product. Do not collaborate with your direct competitors.

Collaborative Marketing

After you are done selecting, it is time to reach out. When you are looking to boost your reach, make sure your collaboration pitch leverages existing statistics of your reach and the degree of your existing brand awareness. On the other hand, if you want to work on a collective ad campaign, propose a potential budget you are looking for from their end.  This is necessary for them to stay on the same page as you.

Do not reveal too little or too much. Your pitch is your way to foster a potential collaboration that will require both trust and loyalty from both parties’ ends.

What does collaborative marketing entail?

These collaborations work in many ways. The two most common standards of collaboration are discussed as follows. You can either collaborate with businesses to promote your brand or service (which should complement theirs) on their social media. Or, you propose to pool resources and launch a joint product or a collective ad campaign, an offer or even a pop-up shop.

Some strategies sprouted from the aforementioned standards are discussed in length below.

Another type of collaboration that might come to your mind is that with influencers. However, those collaborations come mainly under influencer marketing. Influencer marketing involves entering a paid partnership with an influencer.  In return, the influencer markets your product or service by talking about it on their social media handles. Read more about influencer marketing here.

Common collaborative marketing strategies

Co-branding or Partnership Marketing

It refers to pooling resources and splitting costs to come up with a joint campaign. Now the campaign could essentially be an ad, an offer, or a pop-up shop. Collaboration can also have two brands talk about each other on their social media via content marketing.

An example of partnership marketing is Spotify and Starbuck’s music ecosystem. Under the initiative, Starbucks employees got a Spotify premium subscription, via which they can curate playlists to play throughout the day in the shop. Read more about the co-branding marketing genius here.

Starbucks Spotify

Brand partnerships

As suggested by the term, it involves long-term partnerships with brands to foster anything from an ad to a whole new product. It helps brands meet their goals collectively. An example of a partnership that required curation of a product is Burger King’s with the Impossible Burger. They made history by becoming one of the first national fast-food brands to release a meatless burger.

Whopper

Another example where a long-term brand partnership that did not require birthing a new product is McDonald’s and Coca-Cola’s. The burger-selling giant entered into a partnership with a soft drink giant, agreeing to exclusively sell Coke products at their outlets.

Social media collaborations

These types of collaborations basically entitle brands to collaborate with other brands with the purpose of promoting each other on their handles. This is done via leveraging content marketing to give product shoutouts to each other. Publishing their interview or releasing a podcast episode.

social media channelsOur favourite means to achieve high returns is launching a giveaway. They are quite easy to set up. You collaborate with a brand to come up with specific terms and offer products in an exclusive giveaway for both your audiences. By offering the best of both worlds at minimal costs, you end up getting rewarded in terms of boosted reach. As a marketer, it is important to market the giveaway in turn by using social media ads.

Joint ad campaigns

Pooling costs to launch an ad campaign with a partner is also a way to collaborate. You find a business that offers a complementary service and launches a campaign together. The campaign, thus launched, will have both your marketing expertise at work, which is a win-win. Facebook Ads are an effective tool to realise your marketing goals.

Facebook Ads

You can also choose to come up with a deal offer for your customers. Imagine you are a business that sells organic coffee. Now, you can collaborate with a brand that sells ice cream. A joint ad campaign will talk about how great a combination both your products make and offer a discount of say 20% when bought together.

Both the businesses end up acquiring a huge chunk of the other’s customer base without spending a bomb.

Conclusion

Collaborations with other businesses is a two-way street, hence it is important to stay faithful till the terms of the collaboration are met. You need to be aware of your expectations as well as strive to accommodate and address your partner’s too. Also, do not skip on re-evaluating your strategy with each collaboration. Do not give up on the strategy as a whole in case a collaboration does not end up working well. 

Collaborations are a great and upcoming marketing strategy given the fact that almost every pair of businesses complementing each other’s work. Intrigued? Well, we don’t see why you wouldn’t be. Happy collaborating! We at Shaktiki are here to help you with anything and everything marketing. Contact us here.

 

 

The ultimate guide to branding for beginners

In technical terms, a brand is defined as a set of features that differentiates one company from the other. However, the influence of a brand extends beyond this simple definition. This is why Starbucks is not just an ordinary chain of coffeehouses or Apple any regular technology company. Hence, the buzz for branding.

Businesses are aware of the immense power that a unique and well-received brand identity can have on the growth of their enterprise. A glance at the current market scenario can explain the importance of creating an outstanding brand identity. Consequently, businesses put exceptional efforts and creativity to closely align their brand identity and brand image. This is what branding is concerned with.

What is Branding?

Branding refers to the process of conducting research, and then consequently developing and applying a set of unique features to an organisation. This like every other business strategy is done to attract consumers.  But the greater aim is to allow customers to identify the brand with your products or services for the long run.

Considering that branding can be a major factor that influences the final purchasing decision, it’s a significant process for every organisation. The task can be extremely difficult. However, we make this process easier for you with a stepwise guide and effective tips to branding for beginners:

Discovering your brand’s purpose

Before taking any step further in building your business, it’s important to answer and be very clear about one question: Why did you create your business?

The answer to this is crucial as it will build your mission statement. Consequently, it defines your purpose as an organisation. Building a business is a time-consuming and demanding venture. But asking some critical questions like this can serve as motivation during challenging times.

However, the most important reason to have a mission and vision is to communicate the same to your customers. Having clarity about the purpose will be reflected in every step you take in the significant branding process. Additionally, this gives people a reason to care about your brand and organisation. This further allows them to decide their response as a customer in the market.

Deciding your target customer

Building and running a business is testing. It’s often considered a ‘gamble’. But branding can help to create awareness, trust and consequently generate revenue. In simpler words, the risk can be minimized and a customer base can be formed with branding. However, all this requires you to know the ‘who’, i.e. your ideal customer.

A target market research is necessary to determine your target audience. Knowing the demographics of your ideal customers can be a key to unlock your growth. These demographics can include the following:

  • Age
  • Gender
  • Education and qualifications
  • Employment
  • Lifestyle and the struggles

Knowledge about your potential customer can, in turn, allow you to make your branding decisions and make them your actual customer. Hence, building a brand will become easier provided you can put yourself in their shoes which requires you to know the ‘who’.

Establishing your strengths, qualities, and values

The process of branding is almost like self-discovery as it enables one organization to dig deep and find itself. Your brand is that significant asset that’s completely unique and original. This calls for you to define the values, strengths, and qualities that set your brand apart.

Creating your brand with visual and verbal elements

As discussed above, comprehensive knowledge about your business from its purpose to the ideal customer determines the branding process. This gives direction to how to build your business including the brand elements like logo, typography, iconography, colour palette, etc.

This step involves choosing the words that you use for the name of your business, tagline,  and the “brand promise”.

 

The ultimate guide to branding for beginners
Image source: Peterspann

A psychology principle applied in marketing that becomes crucial here is the psychology of colour. According to this principle, colour evokes different emotions in people, like blue signifies trust. Different colours used in marketing determine the way people value a business. As a result, marketers apply this principle to benefit their enterprise.

Employing your branding strategy

After creating a brand strategy, it’s important to execute the same carefully and correctly. This applies to every platform or medium where the brand contacts or communicates with the customers. So listed below are some tips for different mediums:

Website

A website is an official identity that exists in the public domain. Considering its significant part in forming company identity, it must reflect the brand. In order to provide a smooth and satisfactory customer experience, make sure that every content on the website matches your brand voice.

Packaging

While most businesses focus on the larger aspects of branding, the packaging is missed out. However, considering it’s the most real way a customer interacts with a brand, even packaging should reflect the branding.

Social Media

Social Media has become the modern way of communication. Brands can use this space to have a friendly interaction with customers and expand their customer base. Before posting such content, brands must ensure that their page reflects their brand identity. For example, brands should use their logo as their profile photo. This can help customers to recognise your business and distinguish it from your competitors.

Important tips for branding

Branding is a process that must be carried out carefully. Two things that must be taken care of are:

Focus on consistency

Inconsistency is a branding mistake as it misleads your customers. Consistency is a sign of a valuable and strong organisation. Hence, a  brand that prioritises consistency, benefits from it.  A similar presence across all platforms makes it easy for customers to recognise your brand and eventually prefer the same.

Forming and following a brand strategy

An organisation should build a brand strategy with long-term goals. However, the strategy should be flexible enough to incorporate new trends or demands.

Summing Up

Branding is not a simple process. But building and running a business have always been a challenge. While branding can aid to grow your business, we at Shaktiki can help instil growth through our expertise in marketing.

Contact Shaktiki for all your marketing solutions.

 

 

 

Why is an online presence key to business growth?

Do you run a business and want it to grow? Yes, indeed every entrepreneur aims to run a successful business and take it to new heights. This goal requires one to constantly work on improving various strategies. The secret to simplifying everything is to study your ‘consumer’. Most importantly, aligning your goals with your customer’s expectations and needs can be the ultimate way to your success. This is why it is important to take your business to the digital sphere and work on its online presence.

Combine the stats given below (for the UK):

In 2019, 87% of UK households had internet access, with 82% of people using home broadband and 70% using a 4G mobile service.”

“81% of people search online for a product or service.”

“82% of consumers read online reviews for local businesses.”

Use these figures to answer the subsequent questions that are very critical for your business. Where are your customers? In addition to this, where are they looking for the products that you have to offer? Where are they getting feedback about your business? The answer is online.

A similar scenario is seen everywhere. In the wake of the coronavirus pandemic, online stores like BigBasket and Grofers released a message online. It stated that the company faced a sharp increase in demand and consequently they had to limit their operations. This shows how a significant proportion of consumers have started engaging in e-commerce.

While opening a new store, everyone considers the best locality that can help their business flourish. It’s about time to reconsider this question. A business goes where the customers are. Currently, they are online and looking for products there. So you need to shift where they are. However, this is just one of many reasons to have an online presence for your business.

How will an online presence help your business?

It is indeed true that your customers are online and so you need to take your business there. Moreover, the digital sphere offers several benefits to a business, as listed below:

Digital age

We are living in a digital age and the coronavirus pandemic undoubtedly brought a digital revolution. Consumers search for products or services on the internet. Additionally, they also look for reviews online. Placing your business here will attract them and make their shopping experience very comfortable. If you do not establish your business here, then the opportunity will land on your competitors. Hence, a lack of online presence means losing many opportunities while also having almost no presence in the market. Because the market is where the customer is.

Business open for 365 days a year

How many hours can you keep your store open? There’s a limit till which you can keep you can work in the store. But essentially your business doesn’t have to stop just because you need to relax. This is what the digital medium makes possible.

With an online presence, your customers can shop anytime and from anywhere. Hence, situating your business online can extend the business hours and allow you to showcase every single day of the year.

Massive audience

A brick and mortar store is located at a specific location. Not every customer can afford to visit it. Whereas business on the web allows a larger audience that extends beyond any geographical location. This means an increase in business opportunities irrespective of borders. Hence, giving immense scope to expand the business.

Building your brand

A physical store limits the growth of your brand as it denies the possibility of building your brand. Whereas people today want to know more about what they purchase. The market is full of aware consumers who associate their brands with their values. In order to establish these values and strengthen your image, the online medium provides numerous opportunities. This impressive identity or online presence can help you earn credibility. Consequently, more consumers will be attracted every day and thus your business will constantly expand.

Positive image

Provided the vast options in a digital environment, a brand has numerous ways of interacting with customers. Increased engagement can also be a way to get valuable feedback from customers. Continuous efforts to improve online presence translates to friendly relations between a brand and its customers through a positive image. Consequently, this will turn into profits. Simultaneously, such efforts can increase brand loyalty and expansion of customer base.

Quality reviews

Any business today cannot underestimate the importance of reviews. According to research, 91 per cent of people either regularly or occasionally check online reviews. Additionally, 84 per cent trust online reviews as much as a personal recommendation. Other than this, 68 per cent of them form an opinion after reading 1-6 online reviews. These statistics establish the significance of online reviews in modern commerce.

Why does your business need an online presence?

In this scenario, an online presence can allow people to give feedback. Similarly, others can use these reviews to form an impression of the brand. This converts to purchasing decision. However, these positive reviews require quality content on the internet.

Constructive marketing solution

The traditional forms of marketing like advertisements in print, radio, television or billboard are very expensive ways of marketing. Such methods are not viable for local or small businesses. Whereas the digital sphere provides a free space to market products or services.

Why does your business need an online presence?

Interesting and relevant content can strongly impact purchasing decisions and attract a large number of customers. It can ignite conversations and create loyal group of consumers as illustrated here:

Increase in accessibility

In the modern economy, both small and large businesses need to have a strong web presence. Because a brand absent from the digital environment is almost non-existent in the competitive commerce world. Dynamic search algorithms and strong social networks are influential when it comes to locating businesses on the web. Consumers access search engines to gain information and a strong presence here can determine the course of your business.

Summing up

The need to turn from brick to click mode of business is well established. However, this online presence is not limited to just a website. While websites are necessary to inform the customers about the brand, the current competition requires more than that.

Every brand today needs Search Engine Optimisation to be actually known on the web. But most importantly, one needs content because indeed it is the king. The increasing competition in content creation can be managed with purpose-driven marketing. So, contact us at Shaktiki for creating your strong online presence. 

How to build your brand identity?

Why is setting up and running a business one of the most difficult tasks?

While a company never interacts with its customers directly, it is these customers who need to be served in the best possible manner. A single poor experience of a product or service can cause a loss of not only one but many customers. 

A negative review can reach many people when an unsatisfied customer shares their experience with those around them. Most importantly, the highly connected digital world can carry that negative review to millions in seconds. This doesn’t mean that the company has no say about themselves.

When a company manages to communicate its idea and beliefs with a different type of interaction, that is what we can call their ‘brand’. To understand this interaction, one has to understand what we call ‘brand identity’ and ‘brand image’.

What is the brand identity?

It refers to the visible elements of a brand. These elements include its name, design, logo, colour, etc. A company’s efforts to create a good brand identity can be understood as their efforts to identify and distinguish their own brand from others in the customer’s minds. In simpler words, brand identity is how an organization seeks to identify itself and wants to be perceived in the larger market. These branding and marketing strategies communicate an organization’s identity to the consumers. In short, a brand is unique due to its identity. 

Building your brand identity in 2021

Brand identity can also be summed as mental and functional associations with the brand. However, it’s important to understand that these associations are not mere reasons to buy.

But they actually provide a certain familiarity while differentiating themselves (from their competitors) in order to avoid the chances of being replicable. For instance, these associations can be trademark colours like blue for Pepsi, or a tagline like Apple’s – “Think different”.

In this manner, brand identity becomes a total proposal or promise that an organisation offers to consumers. It is an organisation’s personality and mission. Additionally, it serves as a feature linked with a particular company, product, service or individual. Then it becomes a medium of expressing and presenting a brand to the world.

What is the brand image?

Brand image is a distinct term in the sense that it refers to the current view of the customers about a particular brand. In contrast to brand identity, these are a distinctive bundle of associations within the minds of the customers. It denotes what the brand currently stands for, like its set of beliefs. 

Furthermore, it informs how the brand is positioned in the market. In short, it is an organisation’s character that conveys emotional value. While it is also important that it highlights the organisation’s mission and vision. 

Consumers develop various associations with the brand. It is the culmination of these associations that form an overall impression called ‘brand image’.

The concept behind brand image is that a consumer is not only investing in a product or service but also the image associated with the same. Hence, the brand image should be positive and unique. Branding and marketing efforts of a company significantly influence the resulting brand image. 

Exploring the benefits

The various associations in a consumer’s mind for the brand image are attributes and benefits. The former is the functional and mental connections that a customer has with the brand. They can be anything particular or specific. In this way, brand attributes are the overall assessment of a brand. 

On the other hand, benefits are the rationale behind the purchasing decision. These benefits can be grouped into three: Functional, emotional and rational. 

Functional benefits answer what does the organisation do better than others. While emotional benefits serve the question of how does the organisation’s product or service make a customer feel better than others. The rational benefits answer why does the customer believe in that brand more than others. 

Differentiating between brand image and brand identity

The two concepts are a significant part of a brand. However, these are actually different but interconnected concepts. 

Brand identity represents the desire of the brand. This is because it is the way that a company wants consumers to perceive itself. On the other hand, the brand image represents the views of others about the brand. It is the way consumers perceive the company. Brand identity is active in nature as it is a company’s hand to establish it, while the brand image is passive because it can’t be controlled. In conclusion, both the terms are two sides of the same coin. However, both are essential to define the success of a brand in the market. 

Improving your brand identity

An organisation with a unique identity has better brand awareness than its competitors. This creates a motivated team of employees who feel proud of working in a valued organisation. 

On the other end, it leads to brand loyalty, brand preference and high credibility. As a result, a company is able to fix good prices and gain good financial returns. It establishes an instant bond between the organisation and its consumers. Maintaining and building this connection serves as a great medium for the company to foster growth. 

For example, Apple Inc. always tops surveys of the most effective and beloved brands. This is because the company has worked hard in creating its impression as an innovative and premium brand. It is these efforts that have closely aligned Apple’s brand identity and brand image.

Building your brand identity in 2021

Hence, Apple with its loyal and expanding customer base is consistently one of the most profitable brands in the world. 

Digital solutions in the digital world

In the wake of coronavirus, consumer behaviour has significantly changed. Consumers get influenced to make their purchasing choice with the digital presence of the brand. Every organisation is a participant in the digital race today. This again creates a tension to form a unique identity. What one needs in priority is engaging and relevant content. Creating empathy through purpose-driven marketing can also attract an audience. So it is high time to take your brand to new heights with digital marketing in 2021.

Get in touch with us today to find out know more.