In this episode of “The Marketing Nerdz Podcast”, “Karan Dharamsi”, CEO of “The Marketing Nerdz” is going to speak about the “#1 Digital Marketing Tip for Success on Social Media”. He shares the importance of building genuine relationships with your target audience, using one of his personal experience that he came across on his twitter account.
Be it any social media platform, it is very important that you avoid this #1 mistake most people make while building professional connections to their potential target audience.
For any individual on any social media platform, when you like their work or admire their lifestyle, you go ahead and follow them.
Similarly, people discover your profile and follow you. And to build a connection, you too follow them back as most of the times, they are from the same industry and share similar interests.
But, here’s what Karan experienced, which happens to be one of the most common mistake people make on social media platforms.
A lot of the connections messages were automated and came across too salesy, right at the start of a relationship.
He further shares an example explaining how sometimes, these messages can completely put the other person off. Sending out these connection messages is surely not a bad idea, but what may be wrong is the timing!
At the very beginning of any relationship, you would hardly know what your customers want, what are their pain points, what are they looking at achieving from your product and services.
Hence, if at the very start they are bombarded with automated, pushy messages, it will leave them with a negative association with your brand.
So, here is the #1 Digital Marketing Tip for Success on Social Media on how to avoid this mistake
Not everyone who builds a connection with you or your business comes in with an objective to buy from you and become your customer immediately. It can happen eventually, over a period of time, once you have built some connection and interaction.
Someone who has been genuinely connected with you for a long period of time would be more probable of getting converted, than someone whom you just sell at the very first instance.
When you are trying to build your professional network, you don’t want to come across as too salesy and pushy at the very beginning. Times have changed and all of us are now resistant to sales people.
So yes, the #1 Digital Marketing Tip to Success on Social media is as simple as that, “always build genuine connections with your target audience”
Do not sell without even knowing if the audience actually needs it, never assume that everyone who connects to you has the same needs and wants.
Everyone might be fighting different pain points or may be looking for different solutions. So take the efforts to understand their needs, segment them and later offer them the right solutions. This would definitely lead to higher conversion rates and happier audience for your business.
So, here’s the summary for the #1 Digital Marketing Tip For Success on Social Media:
Do not blindly sell or build connections for the sake of it
Understand and study what your customers want, segment them accordingly
Customize and personalize all your communication with your target audience
Using automated message is completely alright in this digital age, but frame your communication in such a way that the opposite person would willingly want to build a connection and take forward the relationship with you. People value customisation and personalisation over automated messages.
Gone are the day’s of generic automated responses!
By building genuine connection, your customers will value you and this is the only way to you can turn your customers into fans.
So, care genuinely and build the business of your dreams!
In this episode of “The Marketing Nerdz Podcast”, “Karan Dharamsi”, CEO of The Marketing Nerdz will be speaking about his personal experience in the field of eCommerce and he shares one of the “E-Commerce Business Mistakes” to be avoided.
According to Karan, every mistake that you make, is a great learning experience and for what most of the people think, not every mistake is a failure. Mistakes are in fact a great way to learn and keep moving ahead!
So, without further ado, here is Karan’s personal experience of starting an eCommerce business and the “eCommerce Business Mistake” to avoid:
Having started a new eCommerce partnership business with the drop-shipping model, Karan and his Partner had managed to scale and grow the company from zero to a good six figures per month in just 5 months!
Even with the net profit margin as low as 15%, the business managed to grow at such a rapid pace and this called for a change, a change to enhance the end customer experience.
With an aim to enhance the end user experience and to start private labelling instead of the drop-shipping model, they invested all the profits earned so far to get in more inventory, found warehouses locally to stock up the inventory and reduce the delivery time, changed the packaging and increased the marketing budget to promote the product and get even more sales!
To anyone, it looked like the absolute right plan of action, the right procedure to go about to expand your Business and increase the number of sales. However, the sales dropped down instead of the expected growth and for a couple of weeks together, there we no sales at all.
From 6 figures a months to no sales…
If you too are wondering what could have possibly gone wrong, here is the eCommerce Business Mistake that led to the drop in sales:
The mistake was that the product which sold so well initially and dropped to almost no sales, was a seasonal product. There was a huge demand for it in the marketing for a good 6-7 months and that’s when the Business was started and it hit the right cords.
But not considering the nature of the product and it’s demand in the market place was the reason that led the Business to a standstill. It wasn’t a product that the consumers needed throughout the year and hence, until the next time when it would be back in demand, there were hardly any purchases.
Thus, putting in all the investment to stock up a huge inventory, to have warehouses and to have private labelling was a good idea from the growth point of view but not considering the nature of the product and it’s demand was the biggest mistake!
The only reason to share this mistake is to make sure everyone out there who is looking to start their own eCommerce business does not have to go through the same and they too get to learn from it, just the way he did.
So, here’s the summary on the “eCommerce Business Mistake”:
Every product and service has a season, a time when it’s at the highest peak of demand in the market place. It is highly important to recognise the “on season” and “off season” of the products before getting into it’s marketing and promotion.
Strategic Inventory Planning is a very crucial part of the eCommerce Business Model.
And to conclude, Karan and his partner did sell away all the inventory eventually, when the product was back in season. It did take some waiting for the same. And yes, unfortunately, the Business went from 6 figures a month to practically no profits by the end because of the mistake.
However, the drive home point through this entire experience is to learn from your mistakes and never give up!
Momentarily, it may look like a bad thing, but if you are willing to take it as a learning experience, you will learn from the mistakes and remember not repeat the same in future and move ahead in the right direction.
So, Grow from your mistakes. Mistakes are a sign that you are growing and moving towards your goal, they will make you a smarter person.
And, if you too are looking at starting or growing your business, but wondering where to start from, drop a comment below to get in touch with someone from the team and we would be glad to help you out with the details.
In this episode of “The Marketing Nerdz Podcast”, CEO “Karan Dharamsi” reveals the “#1 Trait of Successful People” and how it is a very important factor to have in a professional environment too.
Yes, every successful being has this one trait in common and although it it very simple and plain to talk about, it takes a lot of efforts to actually implement and stay consistent with it! That’s another reason and a big differential factor between successful and unsuccessful people!
So, wondering what this #1 Trait of Successful People is? Well, the #1 trait of Successful People is Commitment.
Living up to your commitment is really very important. No one is perfect, and to be honest, being perfect would restrict personal growth. But, the key to being successful is to live up to your commitment and be consistent with what you do, what you decide for yourself!
Be it the promises you make to someone or yourself, or the goals and targets your set personally and professionally, only commitment will take you towards achieving them.
But here’s the thing that happens frequently which can harm your personality and character:
There are times when we just say things to please others or to not make other people feel bad and later realise that we would not be able to keep up with those promises and commitments.
In some instances, we make a promise to the other person in the spur of the moment or to escape the situation, and later we know we wouldn’t fulfil that commitment.
This will only make others lose trust in you and they will learn a pattern that your are someone who does not stand up to your words, a person who cannot be trusted for what they say.
People understand and learn that your words or goals cannot be taken seriously because they have seen you falter on your commitments to them.
That’s how people will start perceiving you and honestly, that’s the worst thing that you could do to yourself! Not just personally, but also professionally, this trait plays a very important role.
This #1 Trait of Successful People is in fact one of the things that set them apart at a professional level too.
They are able to achieve a lot more in terms of success and recognition because they value and live upto their commitments. Commitment is one of the most important things to have in a professional environment. It has major implications Professionally.
Karan also goes on to explaining the importance of commitment when it comes to Professional Life with 3 amazing examples of legends.These Legends are all on the top of their respective games because they honour their commitments.
#1 Trait of Successful People that makes them who they are today:
Starting from “Dan Kennedy“ – the great Marketer and Copy Writer. Karan talks about his inspiring story where inspite of having broke his leg, Dan went on and overcame all the challenges thrown at him and did the entire event on a wheelchair to make sure he lives up to his commitment.
That’s what makes the man so awesome, that’s why people value him and his time because he value’s his commitment.
Similarly, “Tony Robbins“ too struggled the battle between professional commitment and Family. It was the time when his wife was pregnant but the baby could not survive and he was at one of his events across the country.
For any couple, this would be a devastating moment, a moment when a wife would need her husband the most.
But Tony was out there at the event, giving his 100 % at the event, although broken from within, he delivered on his commitment.
And lastly, “Sachin Tendulkar“, who played the World Cup even though his dad passed away at that very time!
He just flew back home for a day for the final rituals and was back in the pitch to live up to the commitment he had made not just to himself, but to the entire nation. And this was the match where he scored a century!
These examples are a living proof success comes to those to Honour their commitment and how have the courage and desire to live up to their commitments.
Be a part of the few successful people and make sure to Honour your commitments, it will take you a long way and help you achieve the great heights of success you have wanted all life long!
In this episode of The Marketing Nerdz Podcast, CEO Karan Dharamsi reveals the 80:20 Principle of Digital Marketing and how it can completely change your Business if applied the right way!
So, what exactly is this 80:20 rule of Digital Marketing?
In simple words, the rule implies that focusing on the important 20 % of things will bring in 80 % of the desired results and revenue, whereas if you shift your focus to the other peripheral 80% of things, it will only do so much and contribute to 20% of your results.
Yes, it is all about the amount of focus and efforts you put into the right things, and how eventually it’s just that 20% of the right thing done that gets in 80% of the revenue.
To explain the 80:20 rule of Digital Marketing further, Karan shares an interesting example of an eCommerce store structure:
Well, if you go to see, ideally for an eCommerce store, only 20% of it’s start products will get in the major chunk of revenue. The remaining 80% of the products only account to 20% in terms of revenue.
Not just an eCommerce store, this rule of 80:20 applies for Digital Marketing as well, and here’s how:
Taking into consideration any campaign that you launch, the success of your campaign will boil down to the efforts that you put in for the main 20% of all the things, which is to understand your target audience, their needs, their pain points and working on a marketing message based on this customer avatar that you create!
What most Digital Marketers miss is to understand their audience and they often get caught up in the remaining 80% of the peripheral things like updating new chat boxes, or creating fancy websites, fancy landing pages etc which would eventually only bring in 20% of the revenue.
So here is a quick recap for the 80:20 Rule for Digital Market
To begin with, it is very important to understand your customers, their needs and wants before framing or creating any marketing campaign. Each customer is unique and they would all have different needs and wants. Hence, start off with creating different customer profiles as per different requirements which will help you to shape your marketing and communication message which will help you connect with the target audience.
This bit is the 20% of your total marketing efforts and that is what will give you 80% of your revenue. The remaining 80% of the things are certainly important, but they would only account to a total of 20% in revenue!
Hence, it’s on you whether to direct your efforts and inputs on the highly important 20% things and get in 80% of the revenue through that or to focus on the peripheral 80% of the things which will consume larger chunk of your time and energy but contribute to only 20% of the total revenue!