1. A STUDY ON DIGITAL 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 is a 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 is a 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:
After identifying 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
J Suresh 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) concluded that 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 understand importance 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 DIGITAL MARKETING 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 to Video 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 Media Presence:
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 DIGITAL MARKETING 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 Media Marketing:
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 per Click (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:
Engaging with 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:
Startups must 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 above data 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 STRATEGIES FOR 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 SUCESSFUL DIGITAL 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: Having developed 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 marketing helps 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 technical advancement 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 the paper 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.
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