Marketing Management Essentials You Always Wanted To Know (3rd Edition)

As the proliferation of artificial intelligence (AI) tools rises, questions about the impact of such advances are also increasing. Across sectors, the potential for AI is proving itself to be more than just hype. While feedback in the market research space remains cautiously optimistic, there is no doubt that AI is creating widespread disruption. Some go so far as to say that it is “reinventing the market research industry.” Discussion of AI applications in market research consistently highlights areas of benefit in contrast with areas of concern. However, the latter are diminishing as time goes on. Benefits most likely to be noted include: 1. Enhanced analysis of quantitative and qualitative data AI tools can open the door to enhanced data analysis by offering the capability to quickly apply higher-level statistics, even in the absence of expertise. In the near term, this can result in more accurate, actionable, and sophisticated analysis. In the longer term, it allows more data to be analyzed, and more deeply. In the context of market research, the potential for AI to bring new dimensions to quantitative and qualitative data and deliver richer overall analysis remains the biggest selling point to date. 2. Predictive analytics and market intelligence AI’s ability to analyze historical data in the context of predicting future behaviors and trends has the ability to be a game changer. This capability enables businesses to better anticipate shifts in the market and significantly optimizes the process of strategic planning or decision-making. Namely, predictive analytics highlights the power of AI to identify and unravel market complexities. Put into action, this ability dramatically improves the generation of customer and market insights, allowing a business to stay well ahead of its competition. 3. Streamline and automate data collection Saving time and money via automated data collection is a commonly highlighted benefit. This becomes especially valuable in instances when data integration is involved. AI can support seamless and continuous updating of data from multiple data sources – think primary and secondary research mixed-methods research, for example – often updating integrated data in real-time. This is possible because AI solutions can process and integrate data as it is generated – a critical capability for enabling more streamlined and optimized decision-making. In particular, market and competitive intelligence efforts can get a huge boost from enhanced data integration capabilities. 4. AI-powered neuromarketing Instances of integrating AI and neuroscience are growing by the day, and the resulting discipline – often referred to as neuromarketing – is anticipated to create a transformative leap forward in the practice of marketing optimization. Neuromarketing describes the study of how people’s brains respond to marketing by monitoring brainwave activity, eye tracking, and other physiological responses. The real-world impact of neuromarketing offers a steroid-like effect to what marketers already do and boosts performance across the board, enabling more precise campaigns, maximized conversions, and revolutionary customer strategies. Areas of concern tend to include: 1. Impact on Market Research Professionals As in most fields that face significant disruption from AI, market research professionals are not entirely sold on the idea. A significant factor driving hesitation is the fear of being replaced. Broadly speaking, more than three-quarters of consumers remain concerned that AI will cause job loss in the next year. But in the case of market research, AI could upskill current roles or create new types entirely. Certainly, the need for AI trainers to develop and refine models, for user experience designers to create interfaces for market researchers to use AI, and for governance specialists to oversee ethics and compliance, will increase. 2. Potential to introduce ethical concerns There are many ethical issues associated with AI in the context of market research. First and foremost is the exposure to privacy breaches, which is especially concerning given the type of sensitive customer data that is likely to be at play when using various AI tools and platforms. Additionally, AI trained on imbalanced data will lead to biased results. To mitigate this risk, market researchers must ensure that the tools they are using are appropriately tested for data diversity and unbiased decision-making. 3. Falls short in human judgment AI can fall short in market research applications, especially in the cases of reflecting complex nuances in human behavior, interpreting qualitative data, building relationships with respondents, understanding context beyond the data, dealing with biased data, and grasping complex situations that require human judgment and intuition. AI is simply not (or at least not yet) equipped to effectively handle tasks that require a deep understanding of human emotions, motivations, and subtleties in language – all of which are crucial to the practice of market research. While it may be too soon to tell if AI will truly reinvent the market research industry, it is fair to say that the technology appears to be transforming many aspects of how and when this type of work gets done. From developing the research design to reporting customer insights, the entire process can benefit from AI. However, the few barriers that remain must be taken into account to avoid any declines in validity, usefulness, or ethical considerations. Ultimately, the very best market researchers will remain current on AI tools that can enhance their workflow, while also ensuring that if and when they introduce one of such tools they are not upending the legitimacy or authority of the research. Learn more about the subject of market research with our book Market Research Essentials You Always Wanted to Know. Written by Emily Wheeler and Samara Omundson, the book is a concise guide to the fundamentals of market research.

Did you know that in an analysis of search conversion rates distribution, the midpoint of conversion rates was 2.35%, while the top 25% of accounts achieved conversion rates of 5.31% or higher? This means that most accounts fail to convert a majority of their visitors into customers, leaving significant revenue potential untapped. In today’s competitive digital landscape, driving traffic to your website is only half the battle. The real challenge lies in turning visitors into loyal customers or leads. This is where Conversion Rate Optimization (CRO) comes into play. This beginner’s guide to CRO will walk you through the fundamentals and best practices to help you unlock the full potential of your website. Let's dive in! What Is Conversion Rate Optimization (CRO)? Conversion Rate Optimization (CRO) is the practice of improving the percentage of website visitors who take a desired action. This process involves using analytical techniques in your conversion strategies to help you boost your site conversion rates. The primary goal of CRO is to increase conversions without necessarily increasing your traffic. By implementing CRO best practices, businesses can enhance user experience. They can streamline the conversion funnel and boost profitability. Why Is CRO So Important? CRO is important because it helps you to create more leads and boost your sales using existing traffic. You don’t have to pay any additional money for advertising, because you will be using your existing traffic to create additional revenue. Key benefits of CRO: Here’s how CRO can enhance user experience, streamline processes, and maximize ROI: Helps you create additional income with the existing traffic: Let’s say you have experienced a 10-percent rise in your conversion rates. The increased ratio will equate to additional income. Thus, 10% of 10,000 leads equals 1000. If you’re selling your product at $50 per download, it means that you’re getting an additional $50 * 1000 new amount of leads, which equals $50,000 of additional income. Relegates Cost of Customer Acquisition (CAC): If your landing pages convert visitors at a rate of 15% per 10,000 website visitors per month, you’re gaining 1,500 new leads every month. However, if you optimize your landing page and produce 20% new leads, this will result in an additional 5% percent or 500 leads. By converting more visitors, businesses can spend less on acquiring new customers. Let’s you focus on vital web traffic: CRO must be part of your digital marketing strategy because it helps you direct your efforts to the part that matters the most in your marketing campaigns. How to Perfectly Execute CRO Follow these steps to fine-tune your process and enhance outcomes: 1. Set goals: The first step in any successful CRO process is to define SMART goals. Without clear objectives, optimization efforts lack direction. For instance, optimizing your homepage—a critical gateway for visitors—is a broad goal. Your homepage goals can be further categorized as: Immediate goal: Encouraging on-page form completions Campaign-specific goal: Driving clicks on purchase links or lead magnets Long-term goals: Improving metrics like lead quality and average order quality. 2. Collect data: Once your goals are set, the next step is to collect data. Reliable analytics help eliminate guesswork, allowing you to make informed decisions. Use tools like: Google Analytics for site metrics and traffic behavior TruConversion to track user sessions and interactions Infusionsoft or ConvertKit to analyze email performance and customer data 3. Examine data and build a hypothesis: For a successful CRO, you must use the relevant data you’ve collected to build effective optimization strategies. Examine your data and determine: Your conversion rate by using Customer Relationship Management (CRM) insights or analytics data The cause of low conversion rate by analyzing user behavior data “Why” and “How” the cause comes about by building a hypothesis. 4. Implement test technology: Once you have all your variables set, leverage the technology necessary to make the changes you are testing. You need the right technology to complete this process. Some tools you can use are Google Analytics and Visual Website Optimizer. 5. Run and monitor tests: Tests should run long enough to achieve statistical significance. This means determining that the results are reliable and not due to chance. To confirm this: Ensure adequate traffic and conversion events. Monitor key metrics like conversion rate, bounce rate, and session duration. If a test underperforms, stop it, identify the problem, and iterate. For example, if Variation A generates a higher bounce rate, revisit the design or copy to address user concerns 6. Analyze data: The final stage involves analyzing test outcomes and leveraging insights for future campaigns. Create a detailed report including: Test name and duration Metrics and variations tested Results: Did the test achieve a lift, loss, or null outcome? For example, if simplifying your checkout process increases conversions by 15%, apply similar principles to other pages, like registration forms or product landing pages. Did you know that 38.6% of marketers say a “video” is the #1 landing page element that impacts conversion? Your Path to CRO Success CRO is essential for any business looking to maximize the value of their website traffic. By understanding and implementing CRO best practices, and avoiding common pitfalls, you can significantly increase your website’s performance. To master the art of CRO and explore a wealth of other digital marketing strategies, dive into Digital Marketing Essentials by Vibrant Publishers. Remember, CRO is an ongoing process. You must constantly analyze your results, test new ideas, and iterate to ensure you’re getting the most out of every visitor! This blog is written using excerpts from “Digital Marketing Essentials You Always Wanted to Know” published by Vibrant Publishers.

In an ever-evolving marketplace, the services industry is a fast-growing sector which is helping the world economy grow quickly. However, services marketing is a very intricate process that needs to be reviewed after every service encounter with the consumer unlike tangible goods. For this, being aware of the different models of services marketing is necessary. With a beginner-friendly approach to the field of services marketing, Vishal Desai’s book ‘Services Marketing Essentials You Always To Know’ is an excellent resource for learning the fundamental tactics needed to achieve rapid and effective growth in your business. This blog presents 8 strategies you need to consider while designing an effective services marketing campaign for your organization. Understanding the Universal Characteristics of Services Before launching a marketing campaign, it's important to understand the following unique traits of service offerings: Uncertainty: Unlike products, services cannot be maintained or tested. Hence, there is always some amount of uncertainty about the final quality of service delivery. Heterogeneity: Service quality varies across providers due to which delivering a consistent experience to every customer becomes difficult.    Non-storable: A service cannot be maintained or restored. Thus, every interaction is an opportunity to build (or break) a relationship with the customer.  Human Element: The human element plays an important role in service delivery. Sensitizing your employees towards customer-centricity is a crucial factor. Implementing these 8 strategies as a definite plan of action can improve your customer retention. 8 Strategies for Effective Services Marketing: Let us explore the real world of services marketing where implementing the following tactics will certainly bring success for your company. 1. Know and Re-know Your Customer Knowing your audience thoroughly is the foundation of a successful marketing campaign. Thus, conducting market research, analyzing customer data, and listening to every word of customer feedback is essential. Understand what their needs and expectations are. Research is the foundation of all marketing efforts. From consumer buying behavior research to exhaustive scientific research, it can help you make more informed decisions. Companies can grow faster and be more profitable than peers who don’t carry out any research. 2. Storytelling: Paint a Picture, Don’t Just List FactsFacts and figures are useful, but not mind-blowing. Use your marketing skills to create compelling stories that demonstrate a transformative impact of your service. Write customer success stories, highlight real-world applications, and integrate brand values to create an emotional connection. Customize your messages and channels to fit your brand’s personality. 3. Experience is King (and Queen)In the service industry, customer experience is the product. From the initial contact to after-sales support, touchpoints play an important role in shaping the customer's perception and satisfaction level. Optimize your service delivery process and regularly measure customer satisfaction.  Remember, satisfied customers are your biggest brand advocates. It is imperative to reduce the level of uncertainty in service delivery by training, skilling, up-skilling, and re-skilling your workforce. Implementing automation can also help reduce the level of uncertainty. At times, it may be necessary to maintain one-to-one interaction with each of your customers and customize your offering to suit their individual needs. 4.The Digital Stage: Where Intangible Assets are CreatedYour company’s website is undoubtedly the most critical asset in the service marketplace today. It’s not just an information billboard, as many companies believe. A good website is the heart of a service firm’s online presence and having an infographics-rich presentation of your service offering is crucial in influencing customer’s decision-making process. Test your expertise by creating informative website content. Use the power of online platforms to showcase your services and customer reviews. Use social media to connect with your audience and explore video marketing. In the digital era,  content is king. So share valuable knowledge, answer questions, and build relationships through authentic online interaction. Accept negative customer reviews to redefine and calibrate your service delivery processes. 5. Display Accolades and Build Trust Demonstrations are good, but building trust takes many steps. Showcase your expertise and experience through industry associations, display relevant certifications, and promote positive media coverage. Clarity is important, so address potential concerns and negative feedback. 6. Adapt Newer TechnologiesThe service environment is ever-evolving. Stay ahead by exploring new technologies such as virtual and augmented reality to showcase or demonstrate your service and persuade the consumer to make a purchase decision. Use automation to standardize the service delivery or AI-powered analytic tools to gather insights on consumer behavior. Improve your productivity and stand out from the crowd. 7. Reward Loyal Customers Your loyal customers are your brand ambassadors. Incentivize them to spread the word about your services and share their experiences. Create a good loyalty program to reward them. Give them referral discounts if they get their acquaintances to enroll for or subscribe to your services. This is the most cost-effective manner of acquiring new customers. 8. Don’t Forget the Competition Keep an eye on what your competitors are offering to their customers. Can you maintain the same service standards as theirs? Can you pull their customers towards your offerings? What are the gap areas in the service delivery of your competitors? Can you fill in that gap? Such questions can help you stay ahead of the game. Remember: Services marketing is a long marathon, not a 100-meter race. Consistency, customer focus, and willingness to adapt are keys to success. By curating experiences, harnessing the power of storytelling, and embracing digital tools, you can capture the beauty of effective service marketing strategies and watch your business soar. Vishal Desai, an expert professional with two decades of experience in the field of sales and marketing, offers a thorough explanation of marketing methods in his book: ‘Services Marketing Essentials You Always Wanted to Know’ so that you can identify and deploy the right services marketing techniques.  

1. That’s Where All the Customers Are! Despite the industry to which a business belongs, its customers are likely on social media. With almost 60% of the world’s population using social media, it has become imperative for businesses to use this medium to reach out to their target audience. Building a brand on social media will help your potential customers find your business easily. People are using social media pages to find and research brands and products, read reviews, post queries, give feedback, and help them with their buying decisions. For example, if a customer is looking for a poolside restaurant offering a candlelight dinner, they may search for it on Instagram or Facebook. Not having a Facebook and Instagram page will make the restaurant lose this customer’s business. Ideally, businesses should regularly post offers, information about new products and engaging messages that will help them gain new customers. 2. Moving with the Times The world around us is changing and so should we. History has shown us how those who didn’t adapt to changing technology and trends lost momentous opportunities and were thrown out of the game in some cases. If this dynamic environment has taught us something, it is adapting to the latest technology and keeping oneself abreast of changing times. While traditional media is in no way obsolete, the technological age that we are living in demands the use of social media marketing. With cell phones or handheld computers in the hands of most people, social media is just a click away. Social media has over 4 billion users, which is expected to grow to 6 billion by 2027. This makes it a formidable tool to be used by marketers. 3. Engagement, Engagement, Engagement! Customers are the key to any business’ survival and growth. Any business looking to generate brand awareness, brand loyalty, and customer satisfaction needs to be able to engage its customers. Customer engagement means delivering personal experiences to your customers by cultivating relationships with them through active communication instead of single, one-off, or fleeting transactions. In this modern era, where technology is at our fingertips, engaging with customers has never been easier. Traditional media doesn’t provide much scope for customer engagement. Social media, on the other hand, is all about engagement. Social media marketing strategies must be designed keeping this in mind and businesses must develop social media marketing content that will attract their customers’ interest and help build a long relationship with them through continued communication. Engagement is one of the most important social media metrics used to measure the effectiveness of social media marketing campaigns. Therefore, brands build social communities to increase customer engagement, which if done correctly, can result in increased brand awareness and loyalty. 4. Social Media Helps Target Ideal Customers Using social media advertising, businesses can target their advertising campaigns towards users who are most likely to buy their products. Businesses need to define their target customers and understand their behavior. Social media platforms provide valuable data on customers looking to buy products, e.g. their age, gender, location, web page history, transactional data, and much more. This can be used by businesses to optimize their advertising, make it more effective, and target the ideal customers. This translates into increased website traffic, brand recognition, and conversions. The cookies from customers’ browsers are also used to gain insights into their search history, likes, dislikes, and buying habits. With so much data and information, social media is, indeed, a valuable tool that businesses cannot afford to ignore if they want to cash in on its benefits. 5. It is Cost-Effective Social media marketing helps cut costs compared to other media like print and television. Running advertising campaigns on TV, newspapers, radio, hoardings, and other traditional media incurs huge advertising costs. Social media, on the other hand, is relatively cost-effective. Just by investing a few hours per week on social media, businesses can yield great results. The CPM (Cost Per Thousand) on social media is almost 3 times less than traditional media, making it an extremely cost-effective medium. It is especially beneficial for small businesses having limited advertising budgets and manpower. Even if a business decides to use social media marketing extensively as an important part of its media mix and social media marketing strategy, it still remains significantly cost-effective. So even with small budgets and fewer resources, businesses can run social media advertising campaigns on Facebook, X, Instagram (Read Instagram for Small Businesses: A Short Guide to Leveraging Instagram), YouTube, LinkedIn, Pinterest, and other social media platforms, have the desired impact on their target audience, and increase their inbound webpage traffic, and convert new leads. Social Media Marketing Essentials You Always Wanted To Know is an all-encompassing guide to get your social media marketing fundamentals in line. Also read: How to Create a Marketing Plan Ethics in Market Research 4 Relationship Marketing Strategies Successfully Used by Big Brands      

Today, the services sector accounts for almost half of the global GDP. Services have unique characteristics which are different from those of physical goods. At the same time, many businesses today offer a blend of tangible goods and intangible services. Hence, it is said that every business is a service business. This makes it imperative for marketers to adopt a differentiated approach to services marketing. This blog suggests cues to build a strong services marketing base that can prove to be beneficial for enhancing your company’s service quality. For this, understanding the distinctive nature of services is essential. Unique Nature of Services Services have unique characteristics compared to physical goods: Intangibility - Services cannot be seen or sensed before purchase. This leads to a perceived risk of customer dissatisfaction for the consumer as compared to tangible goods which can be physically checked before the purchase decision. Inseparability - Services are produced and consumed simultaneously, requiring the provider and the consumer to interact in a live environment. Heterogeneity - Each service experience is unique due to human involvement and thus, standardization is difficult. Perishability - Services cannot be inventoried or saved for consumption later. Unused service capacity is lost revenue for a business. At the same time, they do not have any shelf life for the consumers. These traits have implications for marketing strategy. Firms must find ways to reduce uncertainty, demonstrate service quality, and align demand with variable supply. To deal with the dynamic nature of services, the following best practices can be useful:   Understanding the Marketing Mix is crucial as the 7Ps influence each other and build a strong service marketing base. Extending the Marketing Mix to 7Ps Due to the unique nature of services, the conventional marketing mix of 4Ps (Product, Price, Promotion, Place) must be expanded to 7Ps for services marketing. This is called the Extended Marketing Mix comprising of additional 3Ps as follows:- People - Customer interactions in the service industry depend heavily on staff skills and attitudes. Firms should focus on careful hiring and training, and empower their employees with incentives to maximize customer satisfaction.  Process - Well-designed and efficient processes for service delivery are crucial to providing consistent quality and customized service. Physical Evidence - Customers rely on tangible cues like décor, ambiance, and staff appearance and attitude to evaluate service quality. Getting the 7Ps right is the key to managing perceived service quality. Measuring Perceived Service Quality Historically, various service marketing theories have stated that consumer satisfaction while consuming services is a function of the consumer’s expectation and perception of the service quality finally delivered. The insights include the following: Customers have a zone of tolerance for variability in service performance by the service provider. Staying within this range satisfies them. Service firms must narrow the gap between client expectations and actual delivery. Both, the quality and the manner of service delivery matter, i.e. what is delivered and how it is delivered. A tracking metric like a customer satisfaction score can provide actionable data to improve quality. Understanding Consumer Behavior Consumer choice of services depends on the following attributes. Marketers should promote their services accordingly.                                      a) Search attributes - Potential customers have some idea of what they expect from a service before its purchase as they compare different factors such as availability, price, quality, etc, for example, banking services.         b) Experience attributes - The quality of service delivery cannot be anticipated till the actual service delivery has happened. However, after the delivery, consumers can measure the service quality, for example, pest control services.      c) Credence attributes - Even after the actual service delivery, customers may not be able to measure the quality of service provided by the service provider as the customers do not have the required knowledge for measuring the service quality, for example, surgery for a rare ailment. Thus, they tend to rely on brand reputation or testimonies of other consumers to make their choices. Brand perception of the service provider is shaped by the brand’s alignment with the consumer’s value system, reviews of other customers, and expected customer support quality. Meeting the expectations of consumers is crucial. Service failure and resulting consumer dissatisfaction should be preempted but quick recovery helps regain goodwill among the customers. Unconditional service guarantees are the best marketing tool to build customer trust. Regular surveys, focus groups, and data analysis reveal the factors influencing consumer’s decision-making process.   A holistic approach to enhancing customer experience can be beneficial for providing quality services and increasing customer retention. Improving or Meeting Customer Experience Innovation in areas like personalization, customer support, and self-service improves the user experience. Making a service blueprint visualizes the customer journey and identifies pain points to address during service delivery. Physical evidence like ambient conditions and spatial layout affects customer behavior and it must align with the brand’s positioning. Defining and meeting customer-driven service standards is vital for customer satisfaction. Aligning Marketing with Delivery Marketing communication activities by the service provider communicate the promised quality of service delivery experience across touchpoints. But, such communication must match delivery to avoid disconfirmation by the customers. Employees play a big role in co-creating service value. An internal marketing approach to sensitize them towards matching expected service delivery is crucial. Forecasting demand and managing capacity utilization to serve the customers are a must to match demand and supply. At times, stretching an organization’s resources may be necessary to cater to additional demand that is greater than the usual supply capacity. In summary, services marketing requires a focus on the complete customer experience from promise to delivery. Grasping the unique characteristics of services allows firms to formulate an integrated marketing strategy that attracts and retains happy customers. Key Takeaways Understand how services fundamentally differ from physical goods  Apply the 7Ps of the extended marketing mix to services  Measure and analyze customer expectations, perceptions, and satisfaction Innovate continually to improve service quality and delivery Invest in employees to deliver consistent and superior services Make only those promises that operations can fulfill Adopting these best services marketing practices can help your business delight customers and outperform competitors.  A more comprehensive overview of the best practices in marketing and managing services is available in the book ‘Services Marketing Essentials You Always Wanted to Know’ by Vibrant Publishers. Unlike physical goods, services are intangible, perishable, variable, and inseparable from the provider. The author of the book, Vishal Desai, discusses strategies to address these unique characteristics. The book is an invaluable guide for marketing students and professionals to master strategic services marketing.    

In today's rapidly evolving digital age, businesses are harnessing the power of digital marketing to connect with their target audience, boost brand awareness, drive sales, and outpace the competition. This blog explores the pivotal role of digital marketing in modern business and how it has revolutionized the way companies interact with consumers.  1. Enhanced Reach and Targeting Digital marketing breaks down geographical barriers, allowing businesses to reach a global audience. Utilizing online platforms, social media, and search engines, companies can target specific demographics, interests, behaviors, and locations. This hyper-targeted approach results in higher engagement rates and increased conversion opportunities.   2. Cost-Effectiveness Compared to traditional marketing methods, digital marketing offers a cost-effective alternative. Strategies like pay-per-click (PPC) and social media ads enable businesses to set budgets and pay only for interactions. Additionally, email marketing and content marketing yield substantial returns on investment, making it accessible even for small and medium-sized businesses.   3. Real-Time Data and Analytics Digital marketing empowers businesses with real-time data and analytics. Tracking website traffic, measuring ad performance, monitoring social media engagement, and analyzing email campaign metrics provide valuable insights. This data-driven approach allows marketers to make informed decisions, optimize strategies, and allocate resources effectively.   4. Personalization and Customer Experience Digital marketing facilitates personalized experiences for customers through website personalization, dynamic content, and targeted messaging. By catering to individual preferences and behaviors, businesses can enhance customer experience, foster loyalty, and increase repeat business. (Head to Why Different Organizations Need Different Business Plans for more)   5. Engagement and Interaction Engaging customers is essential in digital marketing. Social media platforms offer a direct line of communication for real-time conversations, feedback, and customer service. Interactive content, such as videos, polls, quizzes, and contests, encourages active engagement, building a strong brand community and fostering brand loyalty.   6. Search Engine Visibility and SEO Visibility in search engine results is vital for businesses in the digital era. Implementing search engine optimization (SEO) techniques improves a company's search rankings. Appearing on the first page of search results boosts organic traffic, credibility, and brand recognition.   7. Agility and Adaptability Digital marketing enables businesses to be agile and adapt quickly to market trends, consumer behavior, and emerging technologies. By staying abreast of social media trends and responding promptly, companies can capitalize on opportunities. A/B testing and iterative improvements allow businesses to refine strategies and stay ahead of the competition.   8. Measurable Results and ROI Digital marketing provides clear and measurable results, making it easier to calculate return on investment (ROI). Detailed analytics track key performance indicators (KPIs), determining the success of marketing efforts. This data-driven approach justifies marketing budgets, allocates resources strategically, and optimizes campaigns for better results. Digital marketing has revolutionized modern business, enabling companies to connect with audiences, deliver personalized experiences, and access real-time data and insights. Embracing digital marketing is no longer an option but a necessity for businesses seeking success in the digital age. As technology continues to evolve, digital marketing will remain at the forefront of modern business strategies, driving lasting relationships with customers and sustainable growth in the dynamic digital landscape. Marketing Management Essentials You Always Wanted To Know is the newest addition to our Self-Learning Management series. The book is for anyone who seeks to learn or revise their marketing fundamentals, which will help them develop their skills to keep up and even have an edge over their peers. Also read: 5 Essential Skills To Learn This Holiday Season Agile Way of Working How to create a Marketing Plan

The social media landscape has undergone major changes since we started using Facebook in the 2000s. While social media is used for social networking, it has also provided businesses with the opportunity to market their products to their target audiences. Social media marketing has grown to be an integral part of the media mix of companies across the globe (head to How to Create a Marketing Plan for more). Various studies have shown that over 90% of US companies having more than 100 employees are using social media marketing. Worldwide too, the percentage of businesses using social media marketing to reach their target audience is more or less the same. This shows that social media marketing is a vast and growing field, providing several career opportunities. Individuals looking for career opportunities can consider social media marketing as it provides various career paths and opportunities for growth. Youngsters looking to enter this field may be confused regarding where to begin and what are the various job profiles available. In the current marketing environment, social media plays a vital role in advertising, brand management, and customer service. Social media marketers are required to help businesses operate and grow. There are numerous career paths available in this area. Here are a few career paths you can consider:   1. Social Media Marketing Manager A social media marketing manager is responsible for communicating with the clients and customers of a business using social media platforms like Facebook, Twitter, Instagram, YouTube, LinkedIn, Pinterest, etc. Individuals who have a passion for social media and finding innovative ways to connect with people are best suited for this role. Social media managers must have excellent communication skills and must be good at customer service as they are required to monitor customers’ feedback and promptly respond to them. You must also possess creative writing ability to create content for the audience on various platforms. Moreover, you must have good planning and organizational skills to schedule various social media marketing activities. Sound knowledge of various social media tools, like tools for content creation, social media analytics tools, and social media metrics, is a must. Individuals having experience in advertising, marketing, or public relations can enter this area. Freshers with good knowledge of social media marketing and all the requisite skills mentioned above can enter this field as well. You will oversee social media marketing plans, social media marketing strategy, and day-to-day social media activities such as posts, advertising, and so on.   2. Social Media Marketing Analyst A person with good knowledge of social media along with marketing analytics can become a social media marketing analyst. You should be able to identify and understand current and future trends in social media marketing. A social media marketing analyst heads the qualitative and quantitative measurement of the business’s social media marketing performance. Your job would include measuring performance, preparing reports, providing strategic support, providing supporting analysis and reports for the business’s social media marketing campaigns, analyzing the social media marketing content and social media marketing strategies, and the impact of social media marketing plans across various platforms. You must possess a good understanding of marketing analytics and must be able to examine and analyze the decisions and their impact on the business.   3. Social Media Consultant Businesses looking to evaluate their current social media marketing strategy or social media profiles may hire social media consultants. If you have gained considerable social media expertise, you may consider becoming a social media consultant. You can work as a freelancer or join a social media marketing agency, where you’ll manage multiple client relationships. You will also need to advise your clients on how to create and execute their social media marketing strategies. You will help clients develop, grow, and manage their online presence. You must be excellent at identifying problems and providing solutions. You must also possess good research skills and must be able to guide clients on how to use various forms of content across various social media platforms effectively.   4. Social Media Marketing Copywriter or Content Producer Individuals possessing excellent communication skills, creativity, and a flair for writing can aim at becoming a social media marketing copywriter, also known as a content producer. You would be responsible for writing/creating content for various social media marketing platforms. Having good content helps in increasing brand loyalty and reach. Content can take many forms like blogs, vlogs, posts, videos, tweets, graphics, eBooks, advertisements, reels, and live streams to name a few. This is considered to be a very important role as good content induces customers to buy the products and keeps the brand engaged with the target audience. A social media marketing copywriter needs to write content; proofread it; and create attractive ads that capture the attention of the target audience for driving website traffic, conversions, and brand interactions on external platforms. Social media content creators help produce content across any social media platform. These content creators help bring to life the business’ ideas by creating and using quality content.   5. Social Media Marketing Specialist A social media marketing specialist is a professional responsible for the creation and publishing of content on all social media platforms, including Facebook, Instagram, Twitter, LinkedIn, Pinterest, and YouTube to grow its audience, build brand awareness, and increase sales. A social media marketing specialist may work with or within an organization to monitor, execute, filter, and measure the social media marketing activities and social media presence of a product, brand, or business. They are responsible for creating marketing campaigns for a business across various social media platforms. You must possess excellent written and verbal communication skills along with thorough knowledge of social media management and social media marketing strategy. You must also have experience in using various analytics software. You must also be skilled in SEO (Search Engine Optimization). With social media marketing having become an integral part of most businesses, it offers enormous career opportunities. If you possess good communication, creativity, organizational skills, research, and analytical skills, along with good knowledge of social media and social media marketing, you can opt for various career paths in this field. Our book Social Media Marketing Essentials You Always Wanted To Know serves as a beginner’s guide to the basics of the realm and can be used by professionals, businesses, and students to brush up. Head to NetGalley to read the Advance Review copy now and let us know how you like it! Also read: Instagram for Small Businesses: A Short Guide to Leveraging Instagram Ethics in Market Research 4 Relationship Marketing Strategies Successfully Used by Big Brands

Small businesses are growing at a rapid rate. According to the US Bureau of Labor Statistics, applications for businesses grew in the second half of the year 2020 — a time when Covid was at its peak. This shows that while the pandemic was towering over us, we found ways to keep ourselves productive and even found our hidden passions. Running a small business is a mammoth task if you are doing it alone. You are running a one-man show and are your sales, accounting, operations, and marketing team. Thanks to the digital mediums and their rapid growth in the recent years, marketing has become affordable and easy. To learn the essentials of digital marketing without going through the heavy jargon, you can read the book Digital Marketing Essentials You Always Wanted To Know. It is a perfect-sized guide, not too big and not too small. Instagram is one such medium where people find everything they need. It is a hub for entertainment, news, online shopping, personal messaging, and much more. If you’re reading this blog, you might already be aware of Instagram and its influence on the young masses of today’s age. In this blog, we have listed four features of Instagram that we think are essential to help you scale your small business. First, set up a business account if you don’t have one.  Step 1 - Open Instagram and click on “Create new account”Step 2 - Type your unique username and set a passwordStep 3 - After successfully creating an account, go to “Settings and privacy” and click on “Switch to professional account” Step 4 - Select a category for your businessStep 5 - Add your contact details like phone number and email and voila! Your business account is set up. Instagram requires you to create a lot of content. Don’t get scared by it though. You don’t have to do this alone the same way you don’t run your business alone. You need help from other people. This blog is created keeping in mind that you have at least 2-3 people to help you out in your business.   Instagram Reels After the TikTok ban in some places of the world, Instagram leveraged the short video concept and came out with Reels. Reels are the fast food of entertainment. They are short 30-to 90-second videos on comedy, entertainment, and education. Reels are not only used for entertainment as is the myth. You can use them as mediums of “edutainment” as Instagram calls it to entertain and educate your audience. They are fun to create too. Reels are also an alternative to creating posts. According to a study on Statista, accounts with upto 500 followers showed a 900 percent reach of reels to new accounts compared to posts. You can insert song clips, create transitions, edit and insert video clips, and even tag people. Instagram recommends the ideal aspect ratio (the ratio of the video’s width to height) between 1.91:1 and 9:16 and a resolution of 720 pixels. Some reel ideas for your small business: Never-heard-of facts about your product/industry History of the product you are selling Significance of your product in cultures around the world Announcement of workshops/seminars Ideas to use your products in different situations (“how to decorate your house with pots”, “gift someone a vase”, “how to paint your own bowl”) Trending memes in the context of your product Behind the scenes of your workspace Happy customers using your products FAQs about your products Your and your business’ story Some tips to make your reels reach a wider audience: Use high-quality videos and images. People don’t generally like videos that are blurry or have poor-quality images. Insert songs and audio clips currently trending on Instagram (Instagram suggests a bunch of songs that are currently trending and are new). Leverage reels as an opportunity to showcase your real brand identity. See what other similar businesses are doing but spice up your reels with your own personal touch.  Use relevant and trending hashtags in your captions. Hashtags help people discover your reels on their For You Page (FYP). Make your thumbnail attractive and interesting so that people are interested in what you have to offer.   Instagram Posts While not having a wider reach in the current times, posts are still a great way to connect with your customers and display your unique selling point. You can either post a single photo or a carousel of multiple photos (up to 10). Posts should be in a 1:1 ratio and 1080 x 1080 pixels. Remember, as a small business, it is important to keep your uniqueness alive. You don’t need to copy other pages or businesses; create content that resonates with you as a business owner and your ideology. Instagram gives you multiple filters to edit your photos. You can even write a caption of up to 2,200 characters. In posts, you can add music, tag people, insert your location, and sync your Facebook account to post the post (too many homonyms, we know). Like reels, edutainment is the key to engaging your audience. Some good post ideas for your business can be: Pictures of your products (e.g. beautiful pots and vases) Positive customer reviews New product launches (e.g. new line of products like bowls) Discounts on products Seasonal offers  Your own behind-the-scenes pictures  Snapshots of customers with your products Tips for using your product As posts are relatively easier to create than reels, you may use the ideas of reels to create posts instead.   Instagram Ads Let’s face it. You cannot scale your business without ads. Organic marketing will only take you so far. Instagram’s ad feature is specifically designed for small businesses like yours. The ads are budget-friendly and help you reach your intended and specific target audience. Instagram ads can be in the form of reels and posts. To create an ad, simply select a post or reel that you would like to convert into an ad and follow the below procedure: Select a goal - Decide what you want from the ad. Do you want more profile visits? Or increased website visits? Or do you want more people enquiring about your product? Choose a target audience - Instagram gives you two options here. In “Automatic”, you don’t have to select a target audience; Instagram does it for you. But the preferred way to go is to select your own audience. Click on “Create Audience” and select the location you want to target (you can select your local area if you want people in your locality to know about your business), people with interests (books, pottery, candles, etc), and the gender and age group. Set your budget and duration for the ad - Instagram will show you a minimum budget per day that you can spend on your ad. Slide the slider and set your daily budget. Then set the duration for the ad. Make the required payment and your ad is live! Dashboard giving an overview of an Instagram business account   Instagram Influencers Collaborating with influencers is another way to reach out to a varied audience. Influencer marketing does come with a cost though but there are some ways through which you can collaborate with influencers without paying them. Nano influencers — with a following between 1,000 - 10,000 — are an affordable medium for marketing your product. Because their follower count is less than the more famous influencers, they charge less and even do free promotions. Search for nano influencers who have a following similar to your target audience and reach out to them. Message them on Instagram with one or more of the following ideas: Offer them your product(s) for free. Give them a discount code that they can share with their followers and pay the influencer a commission on the product sold by their code. Ask them to shoot a creative video using your product (this may be charged). Set up a deal of creating a certain number of videos and posts per month (this can be paid or unpaid depending on whether you're giving them your product for free). Offer them to become the face of your product for a certain period of time.   Tracking your growth Snapshot of insights of an ad campaign on Instagram Do not go overboard with spending your precious earnings on marketing if you're not seeing its benefits. Track your growth and see how effective these tactics were. Instagram insights will help you know how many people you've reached, and how many have clicked on your ads or watched your reels.   Starting out with marketing can be daunting. You may have many questions like where do I start? How do I define my target audience? What are some other channels through which I can market my products or services? What is a SWOT analysis? The answers to all these questions can be found in these books — Digital Marketing Essentials, Marketing Management Essentials, and Services Marketing Essentials. These books are perfect guides to know the fundamentals of marketing and strengthen your base. Buy these books from our website and get a 10% discount. They are available on Amazon too! We are soon going to launch a book on social media marketing in which we will cover the basics of social media platforms like Facebook, Instagram, Twitter, and much more. Stay tuned!   Related blogs: 5 Essential Skills To Learn This Holiday Season Money Management through the “Ages” Contract for Service: 5 Things You Need to Know