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- 1. A STUDY ONDIGITAL MARKETING FOR STARTUPS SHRUTHI B.M. 1st Year M.com MLAAcademy Of Higher Learning 14th Cross Malleshwaram Bangalore 560003 SRIDEVI H.V. 1st Year M.com MLAAcademy Of Higher Learning 14th Cross Malleshwaram Bangalore 560003
- 2. ABSTRACT: Digital Marketing isa term that refers to different promotional techniques deployed to reach customers via digital technologies. It is the promotional of products, services or brands via one or more forms of digital media. Digital marketing can be done through various channels such as search engine optimization (SEO), Social media marketing (SMM), Pay Per click (PPC), Email marketing and content marketing. Digital Marketing is an ever-growing source of entertainment, news, shopping and social interaction, and now customers are exposed not just to what your company says about your brand, but what the media, friends etc… are saying as well. This paper makes an attempt to find out the importance of digital marketing for startups. It also focuses on channels of digital marketing in startups and exhibits digital marketing strategies for startups. Keywords- Digital marketing, SEO, SMM, PPC, Email marketing, Content marketing.
- 3. INTRODUCTION: Digital Marketing isa term that refers to different promotional techniques deployed to reach customers via digital technologies. It is the promotional of products, services or brands via one or more forms of digital media. It includes channels such as search engine optimization (SEO), search engine marketing (SEM), and link building. It also extends to non-internet channels that provide digital media, such as short messaging service (SMS), multimedia messaging service (MMS), callback and on-hold mobile ring tones, e-books, optical disks and games. Some digital marketing strategies hit the bull’s-eye while others don’t even come close. Through, digital media consumers can access information any time and any place where they want with the presence of digital media, consumers do not just rely on what the company says about their brand but also they follow what the media, friends, associations, peers, etc., are saying as well.
- 4. STATEMENT OF PROBLEM: Afteridentifying your target market and audience, you need to approach them & this is where the marketing plan starts. The problem arises with choosing the right advertising media within our limited budget. Most of the running capital of a starting business burns into marketing and promotion. Internet marketing practices such as SEO, PPC, Social Media Activities, Content Marketing, Email outreach etc. can help startups to raise their voice with a little budget. Conventional Marketing is not focused and it is hard to target the right prospect and spend money for customer acquisition. Most of marketing money gets wasted since you pay for huge circulation, not for your target audience (e.g. Newspaper Marketing or Radio Commercials). Digital Marketing is focused & can be more personalized.
- 5. REVIEW OF LITERATURE JSuresh Reddy (26) has published article in Indian Journal of Marketing. Title of article is “Impact of E-commerce on marketing”. Marketing is one of the business function most dramatically affected by emerging information technologies. Internet is providing companies new channels of communication and interaction. It can create closer yet more cost effective relationships with customers in sales, marketing and customer support. Companies can use web to provide ongoing information, service and support. Wuorio(2009) concluded that one solution to the marketing challenges faced by start-ups is digital media. Social media can be a tempting tool for start-up companies to use since it is cheap relatively simple to use and the company has the possibility to reach a big audience.
- 6. • Mangold&Faulds(2009) concludedthat Companies must be able to monitor and respond to conversation, both positive and negative, surrounding the brand. There are ways however, that companies can influence discussions in a way that is consistent with the organization’s mission .Digital media marketing enables companies to achieve a better understanding of customer needs in order to build effective relationships.
- 7. OBJECTIVES • To understandimportance of digital marketing to startups. • To study the various channels of digital marketing in startups. • To analyze the digital marketing strategies for startups. METHODOLOGY: This is based on Secondary data; it’s a Descriptive paper analyzing the importance of digital marketing for startups, channels of digital marketing for startups, digital marketing strategies for startups. Relevant articles were studied for channels of digital marketing and importance of digital marketing.
- 8. IMPORTANCE OF DIGITALMARKETING FOR STARTUPS. 1. Vast and Specific Reach: In 2017, India had 331.77 million internet users. This figure is projected to grow to 511.89 million internet users in 2022. Increasing Internet Using population is a strong signal why it’s the best approach to have digital marketing for Startups.
- 9. 2.Future Belongs toVideo Marketing • Videos are the most satiating and impactful content marketing mechanism than other media. • By 2020 Video will represent over 80% of all Internet traffic says a new study from Cisco • YouTube reports mobile video 64% of customers are more likely to buy a product online after watching a video about it consumption rises 100% every year • According to Nielsen Wire, 36% of online consumers trust video ads and Video Marketing will account for more than 80% all Internet traffic by 2020. 3. The importance of Emails: Email marketing which is an integral part of any digital marketing plan is a most cost-effective and one of the powerful methods. Understanding this, many big players like Myntra, Reebok etc are using this method for varied purposes like brand awareness, announcements, acquiring leads etc.
- 10. 4. Social MediaPresence: They are being used for many objectives by people and companies today, out of which social media marketing helps business to retain and manage clients, engage and also drive the traffic. For instance, Nike, an international sports brand replies to every comment on its social media platforms. Social Media is the best approach in digital marketing for startups to connect with your target audience. 5. Can be easily measured and analyzed: If you can’t compare the outcome with the desired or predetermined goals, it not only can sabotage your goals but can also be questioned by your investors. You can leverage your Startup to greater height and more if you know and how and what knowing what didn’t work out. In simple words, web analytics and other online metrics tools will help you find out and establish how effective your Digital Marketing Campaign for Startup has been.
- 11. CHANNELS OF DIGITALMARKETING IN STARTUPS 1. Search Engine Optimization (SEO): For startups, it is extremely important to possess an SEO-friendly website.SEO means integrating your website in a way that it achieves a favorable rank on relevant search engines such as Google, Bing, and Yahoo. The higher your webpage rank on these search engines the greater are your chances to gain more users, who can then be converted into new customers for your business. It is a solid marketing strategy that will give you and your business impressive results.
- 12. 2. Social MediaMarketing: According to a Social Media Examiner’s report 90% of marketers confirmed that social media is important to their businesses. And 89% of marketers indicated that their social media initiatives have generated increased exposure for their companies. The meteoric rise of social media and the relevance it has on our lives signifies the importance of using this medium as an effective marketing channel. Social Media websites like Face book, Instagram and Twitter offer entrepreneurs and business enterprises the opportunity to market their product and services to the target audience. Making full use of this platform is an essential requisite for startups.
- 13. 3. Pay perClick (PPC): Pay per Click (PPC) is an internet business mechanism that allows you to draw direct traffic on to your website at a price which needs to be paid to the host website. Engaging with your target audience is an important aspect of digital marketing that can be accomplished with the PPC model of online marketing. The revenue model again must be carefully constructed, and it must adhere to the budget. A successful PPC campaign helps startups gain a substantial customer base, and also enhanced brand awareness.
- 14. 4. Email Marketing: Engagingwith the target audience benefits startups in gaining more leads coupled with a high website traffic volume. Email marketing is a cost-effective way to interact with targeted customers. An extensive analysis of user behavior, their likes and dislikes are a must before starting an email campaign. Startups can not only consolidate their existing customer base but also build brand loyalty through this marketing module. In a recent survey conducted by Demand Metric and the Data & Marketing Association (DMA), it was concluded that email marketing had an impressive ROI of 122%.
- 15. 5. Content Marketing: Startupsmust have a clear content marketing strategy to become a successful brand on the internet. Knowledge about your own product and services and how relevant they are to your target audience is essential. The content on the website of a startup should not simply be a propaganda text, but it should talk about in detail how it solves real-life situations for prospective buyers of a product or service. Moreover, content must not be simply targeted to potential customers, but it should also cater to the existing customers. As the world of global technology evolves at the end of each passing day, business organizations, especially startups must absorb the latest digital marketing trends to become a successful enterprise.
- 16. Based on abovedata from marketing charts, we can conclude that the social media marketing is the most effective channel for digital marketing. Thus it is suggested that startups can use social media marketing to increase their sales and revenue.
- 17. DIGITAL MARKETING STRATEGIESFOR START UPS 1. Plan a digital marketing campaign. 2. Identify prospects. 3. Mark online presence. 4. Accessible and useful content. 5. Call-to-action (CTA) button. 6. Continuous tracking and following. 7. Be frequent and consistent. 8. Engage with the followers.
- 18. STARTUPS WITH SUCESSFULDIGITAL MARKETING 1. UBER: The customer-friendly app is an advertising technique in its own way so much so that the firm does not have to spend huge amounts on marketing. The feature of referral codes in exchange for free rides generates word-of-mouth marketing for the company which spreads like wildfire. More than 80% of purchases are made through referrals. 2. PAYTM: Pay tm has tried its level best to popularize itself through various social/digital media platforms like Face book, Twitter, Instagram etc. It has used the tag “#Paytmkaro”. They made sure that more and more people get engaged in using their E-wallets. #PaytmKaro became the new hash tag that started trending on Twitter. Not only this, on Face book they started to post videos of people who have had awesome experience of using Pay tm.
- 19. 3. BYJU’s –The Learning App: Byju’s is India’s leading provider of supplemental school curriculum classes for Class 6-12 and test prep training for CAT, JEE, IAS, GMAT and GRE. They very heavily rely on digital marketing. They are an e-learning platform hence it is axiomatic they heavily deploy online and digital marketing and they also launched their learning app which is the first of its kind in India. 4. FLYROBE: Fly robe is India’s largest fashion rental platform. From brunches to official lunches, club nights to weddings, you can rent designer wear and premium brands at a fraction of their retail price. Around 40,000 people have downloaded our app, and there are 14,000 who open it on a monthly basis. Over 169K followers on face book they have managed to garner traction over social media and continue to do so exponentially.
- 20. 5.FRESH MENU: Havingdeveloped an attractive and interactive food website, their approach and strategy was to design and implement digital marketing campaigns to announce their start and spread WOM. They engage with their online visitors by promoting interesting content on origin of food items. They conduct regular quizzes, contests and offer coupons to attract customers; their most successful campaign till date was Food Festival which resulted in 20% uptick in sales.
- 21. FINDINGS • Digital marketinghelps to increase visibility for startups. • As the social media users are increasing day by day, they are helping digital marketing strategy to work more effectively and efficiently. • Customers are highly information seekers. They collect more information about quality, price and refer customer’s experiences before purchasing a product. By going online startups can boost their sales. • Social media like Face book, YouTube and twitter is the most effective channel for promotion of startups. • Multi-channel digital marketing strategy will deliver good results for any business, focusing on diverse channels will deliver even better results. • Digital marketing Boosts brand awareness and brand recognition.
- 22. SUGGESTIONS • Improve technicaladvancement in promotion of digital marketing. • Collect and implement the feedback provided by consumer in the right way. • Provide a transparent and good service to the consumer before and after purchase. • Creating awareness among the people about digital marketing. • Complete description need to provide about the product to the online shoppers.
- 23. CONCLUSION • From thepaper we can conclude that it is essential for start-ups to understand Digital media tools and the strategies behind using Digital media for growing their business. However, by choosing the right digital marketing strategies, you can stand out from the crowd. Email marketing, social media marketing, pay-per-click advertising, search engine optimization, content marketing, are proven to yield a high ROI. So, digital marketing is about utilizing digital technology to achieve marketing objectives. “Test, learn and evolve” should be at the heart of all digital marketing initiatives.
- 24. REFERENCES: • https://indianceo.in/news/paytm-digital-marketing-increase- profit-demonetization/ • http://www.shamoor.com/5-indian-startups-making-digital- marketing/ •https://shanebarker.com/blog/best-digital-marketing-strategies- for-startups/ • https://www.business2community.com/digital-marketing/how- startups-can-benefit-from-digital-marketing-02115803 • https://www.quisbustrainings.com