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What-analysis-should-Companies-do-to-achieve-marketing-success
Marketing

What analysis should Companies do to achieve marketing success?

For any company, their marketing success depends on how well they research about the market, and their users. It’s very important to get down to these details before you actually start putting in effort into marketing. Understanding these details would help companies to plan their marketing roadmap well that can contribute to huge success. There are plenty of things to research in these two categories so one has to cover everything while doing analysis to avoid any pitfalls.

So what are those points? What kinds of research companies need to do to gain the most out of it? Why are they important? What significance do they have? Below are the points listed considering above things.

Market research

There are various things that need to be analysed while doing market research. Missing out on some points will keep your research incomplete and that will make your job difficult to execute your plans with perfection so it’s your job to cover every point in detail. I have curated some points for you but you still need to find more as every industry is different or I might have missed some points.

  • What is the market size?
  • How many buyers are there?
  • Who are our competitors?
  • What is the intensity of the competition?
  • What are the barriers to entry?
  • Social and cultural norms
  • Customers’ buying behaviour
  • Customers’ demographics
  • Festivals/Holidays
  • Popular advertising channels
  • Customers’ pain points
  • Product pricing
  • Competitors’ research
  • Marketing analysis
    • The 7Ps of Marketing
    • 5C analysis
    • SWOT analysis
    • PEST analysis
    • VRIO analysis

User Research

Getting to know your users, understanding their needs, problems and behaviours are crucial as they help you craft your strategy better. You need to create a proper list that would make your research task easier. Below are some curated points but you can add more to that.

  • What’s their age-group?
  • What are the locations users are active from?
  • What languages they speak?
  • Spending power and patterns
  • What are their interests?
  • What are their challenges?
  • Where do they work?
  • Designation
  • Identify customer pain points
  • Identify customer goals
  • Understand how you can help
How-can-you-use-ChatGPT-for-your-business
AI Tools, Tech

How can you use ChatGPT for your business to get maximum benefits?

Recently, after the launch of ChatGPT, many big companies also rolling out their own chatbots, including Google Bard, Neeva AI, Bing chatbots & others.

These tools are revolutionary and certainly going to change the way we did marketing before for different industries including SaaS. There are different ways we can use such tools in SaaS marketing:

– It can generate new ideas for product features by training them on a dataset of product features and descriptions.

– It can help in copywriting, just feed the topic and you get answers around that topic

– It helps do the keyword research, try a different set of keywords, and get different suggestions

– It can use APIs to auto-generate email responses

– It can use APIs for the automatic & quick reply to customer queries

– It can use for blogs & website content optimization (Title, Content, Meta Desc & others)

How-Do-You-Decide-Marketing-Channels
Marketing

How do you decide which marketing channels to use for your business initially?

There is always this confusion for business owners about which marketing channels to pick first as nowadays there are a number of online platforms where you can market your products or services.

You as a business owner might think to target every platform but that’s a bad idea, your customers are not everywhere and even if they are, there will be fewer numbers on some platforms.

So how to decide that?

Business Type – Think about your business type, and the industry you are in, do some research about the market, and analyze your competitors as well. This will give you some ideas.

Business Goals – You may have different goals depending on your mission, vision & values, and can decide on marketing channels accordingly.

Target Audience – Know about your target audiences well, which channels they are most active on, when they are most active, their demographics & others.

Budget – Yes, you need the budget to run marketing campaigns, as well as to hire manpower to handle them so considering this is a must.

Lead Quality – Monitor your marketing campaigns closely which all deliver quality results and where you are wasting money. This data will give you a fair idea of which all to continue with and which ones to stop.