Fashion industry runs at a face pace as compared to other sectors in the business sector. Overnight product designs and consumer preferences change that impacts the entire fashion business.
If you are a part of the fashion industry as a businessman. Then, it is important to consider three things for the growth and development in the fashion industry.
These three elements will help the fashion entrepreneurs to stay ahead of future landscape shaping across the fashion world. However, there are other elements too that influence the growth of fashion industry.
Many fashion businesspeople concentrate on the best use of technology in their business that can cut their cost in future and manages their processes efficiently. Some technologies that are selected by Fashion Accessories & Gear Manufacturers are ERP (Enterprise Resource Planning).
Let’s take a look at how ERP contributes to the fashion industry.
The ERP will give an online buyer the information that he or she needs to make a purchase. It helps the prospect by providing information such as previous purchase and search history, delivery time, shipment date, packaging medium, estimated date of arrival. The sales force carries a mobile access to ERP software 24/7. In this way, they can help clients in closing the order. ERP also enables the sales force to keep track of incoming shipments, inventory count, and product availability to serve customers efficiently with fully equipped knowledge.
The customer can check out the latest updates on fashion designs through auto notification facilitated by ERP. The ERP also help customers by sending them notifications on the timely basis; thus telling them the status and progress of their orders.
On another side, the customer can easily track the consignment progress online via ERP, i.e., where is the shipment at the present moment. Along with tracking status, it also helps the customer to resolve any issues that he or she might encounter during purchase cycle.
ERP helps in personalizing the customer experience through data analytics. Few prospects make off and on searches on the website. ERP saves these data of searches when prospect browses the web again. In this context, ERP via data analytics shows the prospect his search history. In this way, it is easy for the prospect to remember the keywords and products he has already browsed in a website.
On another side, the company also utilizes the search history of the buyer and as buyer logs into your website. You can expose different offers, fashion updates and ads of latest fashion trends to your prospect according to his purchasing interest.
Your customer support team can also have access to dashboard of your website through ERP. When the customer asks any query about anything, any offer or latest update about the product. Your customer support team can reply them instantly, so prospects don’t need to wait for a long time to get their query answered.
As customers use the personalized features on your site by looking into information that contains his / her buying preferences. Your sales team can also make cross-sell and up-sell offers to your client. You can allocate customer loyalty points with discount offers which can motivate your customers to come back to your web brand.
In this way, ERP helps to develop personalized customer experience and support fashion brand to establish strong relationships with the customer.
ERP can easily integrate all business processes and departments of fashion brand effectively including distribution, sales, customer services, design, manufacturing, finance, marketing, research and development etc.
No matter how fast the fashion organization is executing its operations. ERP streamlines the organization processes by avoiding duplication work and automates operational tasks efficiently.
The fashion industry is a hectic industry with fast and furious features. It sets the trend for various other industries like apparel and garment products. In this context, ERP is critical and efficient to manage organization fast-paced internal and external processes efficiently.…
Gartner 2017 Symposium/ITxpo in Orlando, Florida tapped on a wide unexplored digital world. The bottom line lies around how immersive experience, artificial intelligence, constant adaptive security and event-thinking lay the foundation for next generation digital businesses.
In this event, Gartner has highlighted top 10 trends of strategic technology that will be trending in 2018 and onwards in several industries, especially in the E-Commerce industry.
These trends are summarized below:-
The use of artificial intelligence is creating hype in the corporate world. AI carries the high potential to execute multiple tasks effectively. AI is useful to utilize mass data effectively for decision making and also plays a vital role in reinventing ecosystems and business models.
According to research survey of Tractica, the trend of adopting artificial intelligence in the business world is increasing. In 2015, the net worth of AI market was 11.1 billion USD. And the net worth of adopting AI systems will be 11.1 billion USD by 2024.
In this context, organizations should move toward adapting AI. They need to invest in human resource, training and development, IT skills, equipment, processes and model creation to transform their business processes into Artificial Intelligence mechanism.
In this way, organizations can increase their productivity across all departments effectively.
Along with AI, the trend of using smart apps and analytics are growing as businesses are becoming digital time by time. There is some amount of AI present in every app.
Gartner focuses on exploring smart apps that can highlight use cases and augment human actions across business processes, advanced analytics, and fresh user experiences.
Gartner also identifies augmented analytics that exploits machine learning to automate preparation of data, as a zone of strategic importance.
Gartner also talked about IIOT. The growth of IIOT has encircled several things. Beside IIOT, machine and AI facilitate business processes to function semi-autonomously or autonomously. For instance, a robotic vacuum cleaner having computer vision can clean and navigate home with negligible intervention. As technology excels, there will be lots of smart things that will function collaboratively to accomplish the goal.
Gartner spoke about the significance of digital twins in the business world. Digital twins are digital copies of physical world mechanisms. They can effectively use as digital replicas for physical processes, systems, and assets. Digital twins usually work parallel with IIOT. They play a crucial role in responding to change, improve operations and capable to cut the cost of operations and maintenance efficiently.
IIOT and digital twins are widely used across several industries. Digital twins and IIOT provide medical data and biometrics to doctors. It can also work as a digital twin for the town. It can offer useful information to cities and state planners about maintenance and operations.
Gartner concentrates on achieving cloud computing capabilities so that organizations can put their servers, data and electronic resources on cloud computing systems to cut acquisition, space, and maintenance cost.
Conversational platforms are online channels where users interact with the digital world. It refers to sophisticated conversational software technology for customer base and employees. These platforms will be more advanced so they would not need any human support on the backend.
They engage in conversation with the user and translate the communication into further more personalized formats which can be a useful data for research and development. Conversational platforms can play decisive role in designing strategy for business growth.
These technologies are blurring the boundary line between digital and physical world. Virtual reality (VR) puts the consumer in a rendered digital environment. Augmented reality (AR) dissolves the thick line between physical and digital world by overlaying digital information in the physical world.
These technologies when emerging with IIOT and conversational platforms, they will bring a significant shift to immersive and ubiquitous computing in digital business world.
The blockchain is tokenized, distributed decentralized and shared ledger that eliminates business friction via independent individual participants or applications. It is a digital ledger that contains the feature of incorruptibility. It does not program to record only financial transactions, but it can be widely used across several business processes and operations.
It is a pattern of software architecture that promotes consumption, detection, and production of events. The EDA pattern can be applied via implementation and design of systems and applications that broadcast events among coupled software services and components. The EDA is an effective technology to track and monitor every event of business processes.
The event-sourced real-time situational awareness is foreseen to be a must-have characteristic for up to 80% of digital businesses by 2020. Whereas, 80% new business ecosystem will demand event processing support.
E-Commerce industry evolves into a complex security environment. The employment of sophisticated tools has also increased the threat and security concerns to digital world. CART facilitates decision making that is trust based in real-time and allows highly specialized adaptive responses to the security system of the digital business.
However, conventional security techniques exercising control and ownership will not seem to be working efficiently in the digital world in the long term.
These ten strategic technologies are vital to increasing productivity and cutting cost.
However, digital entrepreneurs and B2B marketplaces have to anticipate the right fit of strategic technologies to their organization. It is not essential that every technology is the right fit for you and you are the right fit to adapt every technology.
There are several constraints such as will your organization bear the cost of implantation of technology? Does this technology be relevant and useful to your organization structure, industry, and product?…
They say content is the king when it comes to market a business online. Most people confuse the term ‘content’ with text or blogging. The fact is, working on text is just one aspect of content marketing, there’s a lot more to explore.
Research suggests that B2B marketing has undergone a major shift and everything’s changing from audience to modes of communication with them. In this reign of transformation with 2018 knocking on door, B2B companies are striving to stay ahead of the curve. Experts suggest that for B2B brands it is important to dive into every detail associated with the changing and upcoming market trends.
To keep up with the pace content marketing is one of the most crucial factors to hold on. Visuals in face of info graphics, videos and other presentations are seen to be performing well as compared to text. However, a good combo – informative blog with graphical demonstrations and videos could be groundbreaking.
To have an insight into what the future of content marketing looks like have a sneak peek into the following info graphic. From news alerts on what top brands are doing to excel to secret success recipe we have said it all.
Do you know automotive industry will close sales of 8.9 billion dollars by the end of 2017? However there will be around 16 percent increase of sales forecasted in 2017.
The automotive industry is progressing with revenue due to the digital revolution and meeting traditional needs of transportation.
However, the digital revolution has created different challenges in the auto industry. These challenges comprise of benefits as well as difficulties too. Hence, it is evident that future of vehicle industry revenue is online.
In this way, E-Commerce offers efficient solutions to meet automotive challenges effectively. The few challenges have been shown below:-
Automotive parts sales have been done a lot because auto parts are demanded by clients after sales too. The demand can be low or high with the passage of time.
As you can see the above chart, automotive parts are ordered massively. In this context, challenge is that mass ordering contains wide variety of customizations and components. In this way, complexity rises for delivering an order of auto parts because it may also allow errors during processing.
In this case, it is better to execute orders through ERP (Enterprise Resource Planning). Therefore, automotive companies need to establish their auto site by ERP.
ERP can use data and logic through company web store. This feature reduces error possibility on one side and on other side support sales and other essential operations.
ERP also helps in seamless information exchange of inventory management, financial transactions, and sales management. All these functions are executed efficiently through your website due to ERP.
The above picture shows types of automotive customers and order frequency.
Automotive & Parts Manufacturer faces error frequency in bulk orders. In every order, there are complex variables to judge with each order like shipping requirements, payment options, and special conditions. Especially in large orders, custom work is required at the mass level.
In this context, the integrated auto website provides flexibility and freedom and all the essential options with information to place order online error-free. Some E-commerce platforms like Sana Commerce assists B2B automotive processes and operations to help automotive buyers in developing and finding multiple payment addresses, different shipping addresses, specific instructions of delivery and uploading attachments of returns and orders.
Digital solutions allow automotive sites to market their products according to the needs of the clients. They can track buyer searches on Google and over their website. In light of searches data and ERP assistance, one can develop a link related to auto products in ERP. In this way, the auto website displays products to the buyer when they check out relevant pages of the product.
For instance, if the prospect is looking for a radiator on a website then auto web can give options for coolant fluid, fans, and tubing.
Automobile organizations are looking ways to cut more costs and be more competitive. They are
Every industry is taking advantage of analytics. Analytics play a vital role in transport and logistics industry for engagement and conversions. The use of analytics in transport industry has completely changed the landscape of working methods.
Let’s take a view of the role of analytics in the transport and logistics.
The above figures states about the dollar value of this industry. Even one of the famous brands in the cargo shipped around 16 billion tons kilometer freight in 2014. It's an enormous weight. The transport industry carries a lot weights as well as returns on investment for the Transportation and Logistics Suppliers as stated in the above figures.
Nevertheless, it is also a striking fact that air cargo is one of the fast and furious ways for transporting articles from storehouse to the customer. Its effectiveness is vital to the global economic success. Moreover, the supply chain requirements need to meet quickly because the competition is fast and furious.
In this way, cargo carriers require making the best use of technology. Exercising best technology will assure the whole the supply chain of air cargo flexible, adaptable and connected. Though, for proper optimization of the entire process need excellent decision making as well as quality analytics. Therefore, the ones who can go through full data providers and develop action plans are more likely to win in the long run.
Along earning a great amount of revenues, this industry is also facing several problems like data access, delivery issues, data disconnection etc. Transportation & Logistics Suppliers that are operating within the cargo world needs collaboration with their counterparts to access data easily and share common problems and issues such as delay in delivery; it can be easily handled through a logistic alliance.
Another problem that is encountered by transport industry is data disconnection across various phases in freight shipments. Because data is stored in different structures and formats that restricts all the stakeholders to access it. Thus it is difficult to get the clear picture of what is going on. Hence it is hard to take full advantage of analytics. Therefore, it is essential to bring the entire data into the cloud because it will link application (like silos) and provide information to all the involved parties in the real state of time.
Data Integration: As mentioned above, data collection is quite tough because data is pooled in various software houses and external databases that make it hard for one to view the entire picture of information.
Indeed, during project analysis, 80% time has been spent in dealing with data issues. Boosting efficiency needs processes of data integration and improvement in collaboration among all stakeholders.
On other side, business users also need to employ data connectors to tap into external systems. Because the quantity of data collected may seem enormous, however, data profiling can facilitate in pinpointing routine trouble points. In this way, important issues are:-
Descriptive analytics can aid to highlight your customer base by developing the detailed customer profile. These profiles will depend on the data of industry demographics, buying patterns, shipping history, location, size, etc. A particular marketing campaign can be developed based on the data of customer profile. It will help in customer segmentation as well as forecasting sales and consumer behavior.
Analytics can also help to minimize transportation cost and maximize revenue by forecasting demand while meeting any limitations of capacity. The model of analytics would include several predictors like show up behavior, seasonal influence, buying pattern and cargo capacity availability on the monthly, weekly and daily basis. The results of analytics should be consistently updated with real-time results. In this way, a business plan can be able to adopt changes through adjusting schedules of flights or prices that are charged during different periods of demand. Consequently, it would help in maximizing revenue and enhance customer satisfaction.
Companies need to think about strategic alliances and work in joint ventures to take the maximum advantage of analytics and data. The purpose is to help each other in accessing rich data of customer for better marketing and sales planning.
The additional benefit is to support each other in adopting data-driven technologies like IIOT which will also help in certain applications include shipments tracking in real-time, delivery to last-mile, route optimization, forecasted asset maintenance, optimization of warehouse capacity, etc.…
Do you know, 70 percent B2B sites will start proposing personalized features for prospects by 2018? Gartner.
Personalization is making the best use of collected data of web buyers then create unique, customized and relevant content for every prospect.
After several trial and error experiences, B2B sites understand website personalization is the critical element for increasing conversion and engagement rate with key audiences. Therefore, they start adopting them swiftly.
There are several benefits connected with the web personalization. Let’s have a look upon these benefits
“45% online shoppers show more interest in websites that present personalized recommendations” Invesp
Have you noticed when you entered any B2B site? They ask for signing up for your ID. As you sign up the B2B website or if you are already sign up member of the website. Your information is saved with reference to the sign-up ID. It helps the B2B brand to give you a personalized experience.
B2B sites save buyer search history rather than bombard them with a lot of ads. Most users like that their search history is preserved on the site and visible to them for further correspondence. In addition, B2B web brands also save your purchase history and expose you to relevant ads and concerned recommendations.
According to Hubspot, target ads on call to action rates were 42% higher than ads exposed on a website to induce prospects.
In this way, personalized content is result oriented; you hit the right person with the right message at the right time. It increases your brand reputation and creates significant interaction with prospects leading them toward conversion.
Leads nurtured with targeted and personalized content generate 20 percent more sales opportunities than impersonalized features (Demand Gen.)
Conversion rates increase due to personalization because as buyer enters to the B2B site and he found relevant ads, search options, and recommendations. It decreases the buyer search time and lessens his mental cost. In this way, it leads the buyer to choose the right product which appeals to his need.
In addition to personalization, there are other important factors too that play a crucial role in conversion. These elements are:
The above points will help you in conversion brought by the effort of personalization into your bucket.
Users are more likely to return from the site as they are bombarded with lots of ads, where they are forced to sign up and found lots of options of unrelated products to select. Web personalization decreases the overload of information and leads the user to access the content appealing to his pain areas, interest and solution of his problems.
Web personalization gives the user an appropriate space to function what he likes and dislikes. In this way, B2B brand has got two-fold benefits.
B2B web also gets a chance to analyze causes for returning of the user from a site and reasons for browsing more pages of the website. Thus, the B2B site can also determine its strengths and weaknesses and identify areas for improvement works them and make more efficient results.
Nevertheless, it is highly essential to keep the sign-up process comfortable and not asking too much personal information like landline numbers. Only name, email, and buying need options are fair enough to include in the sign-up form, and you can add the phone number as an optional field because some users would not like to mention their phone details.
It has been observed that lengthy sign-up process can distract the prospect from your site and once the buyer has returned he would hardly ever come back to your site.
Everything is fine in the above picture but deleting the date of birth, keep singular field for name is much better to develop the customer data base for web personalization.
By 2018, B2B E-Commerce sites with excellent personalization increase their sale by 30%. “Gartner”
Exact Target and Forecast consulting research shows that 96% marketers believe that personalization play key role in loyalty and retention of the clients.
Web personalization helps B2B sites to earn customer loyalty easily. The marketing rule of thumb (how to do b2b marketing) is that adding more benefits to the client and decreasing more costs to the customer will attract customers and prospects to your site and will result in brand loyalty.
Web personalization decreases the energy, time and effort cost and put right in front of consumer what he likes. On another side, web personalization lets the consumer feel that business is going their way rather than going from the direction of the B2B site.
In this context, you can also ask feedback with your clients when you are changing your website interface, add or delete any website service feature and ask your client which type of personalization in content, ads, search recommendations he or she is looking. In this way, you can approach your clients with the more personalized format.
Along with Web personalization, it is also important your site must be mobile friendly effortlessly to open on mobile, tablets and other smart hand devices. Your site must function with consistency, reliability and ensure error-free browsing. The content that is used for personalization must be user-friendly and easily readable and accessible to give a user a positive and productive experience of your site.…
Along with other industries, packaging industry is also embracing sophisticated technologies and raising their standards across all functions. In this context, (IIoT) has break through the clutter in many industries along with packaging industry.
In upcoming years, the (IIoT) will become mandatory for every company who wants to ensure its productivity. In the packaging industry, companies are adopting this technology to extend their efficiency and effectiveness to the level of excellence.
It is helpful in cutting the cost, turnover, absenteeism, and grievances that causes tangible and intangible damage in the packaging industry. On another side, it is also the smart tool for achieving productivity in packaging trade.
It's a network of vehicles, office appliances, physical devices, and other stuff which can easily embed with network connectivity, software, electronics and sensors that allow these objects to exchange and connect data across various departments within an organization.
Every item is distinctively identifiable via embedded computing mechanisms. Thus it is capable to inter-operate inside the current internet infrastructure.
This IIoT are the new technology that is slowly and gradually embracing the packaging industry. Due to IIoT, the production lines in packaging industry can quickly sense and control objects (people, machines, and material) via the remote network infrastructure.
In this way, it creates direct incorporation of physical stuff into the computer world. Thus it results in improved economic benefit, accuracy and efficiency and decreases the human intervention.
In other words, Packaging Machines & Goods Manufacturer can take advantage of this technology by linking internet, social media and smart phones altogether. Industrial Internet of Things (IIoT) facilitates in data gathering from production lines to other essential departments interlinked with manufacturing process like warehouse, purchase department and accounting department etc.
Along with data, it also gives manufacturer an analytics to improve decision making. In this way, it gives measurement scales to production department thus saves time, effort and money.
The use of IIOT in the packaging industry is growing time by time. Here are some statistics for your reference shown below:-
You can see the above image apart from packaging industry; there are other industries too which are also using the IIOT technology efficiently.
Here, one can see in the above picture that the (IIoT) technology is the problem-solving mechanism. Many manufacturing executives admit to the fact in context of above research survey.
The above statists show that some manufacturers think that embedding the technology of (IIoT) will increase the revenue:
The IIoT’s remote monitoring mechanism enables to transfer tons of data across important organization functions plus it also contains reporting feature that have transformed the packaging lines.
Packaging Machines & Goods Manufacturer is getting more innovative to make the best use of technology (IIoT) in production lines.
Even Turnkey project companies also tend to use (IIoT) Industrial Internet of Things while establishing the machine lines for packaging factories.
According to the research study of MPI, there are around 350 manufacturers who intend to adopt the (IIoT) Industrial Internet of Things. They think (IIoT) is helpful in achieving the following objectives:
Moreover, packaging manufacturers said that bolstering the product quality is the primary objective of adopting smart devices besides their machine lines.
In this context, MPI estimates that within two years a significant number of packaging industrialists will enhance their usage of smart devices including software, network, sensors and other electronic connectivity stuff.
It brings smartness and efficiency in manufacturing devices to exchange and collect data through IIOT. Because in next five years, IIOT expertise will influence 71% manufacturers to employ this technology efficiently in their organizations.
Packaging entrepreneurs and industry gurus see this technology as mandatory in assuring the consistency in the effectiveness and gaining competitive advantage in the global market.
The IIOT is not limited to remote monitoring function to stay in touch with their equipment. Hence, it also gives an opportunity for end users, suppliers, and other relevant stakeholders to share valuable information with each other effectively and quickly.
Due to IIOT, Packaging Manufacturers are enabling to highlight discrepancies besides packaging machine lines in actual time then using this information and further distribute the data through monitoring devices to concerned departments.
In this way, most of the packaging industrialists believe that IIOT will improve the rate of customer satisfaction.
Packaging Industrials are adopting new CRMs and ERPs to increase productivity and reducing manufacturing and other turnover costs. Before selecting any technology, they just need to jot down cost and benefits of every technique and technology. Also, they must even look into the payback period for embracing new technologies and standards.…
B2B sports industry is quite huge and all the operations from manufacturing to shipping are carried out with a customer centric approach. However, regardless of the type of business, there is only one key to success – satisfied customer. Other than quality and pricing many other factors contribute to customer satisfaction and those can only be determined by having a deep insight into consumer behavior and their purchase journey.
A study named “Shopper Playbook: Insights into the Sporting Goods Shopper,” was currently published with fruitful insights based on extensive research. It was released by National Association of Sporting Goods Retailers and the information provided is no less than a treat for anyone dealing with sporting goods or Sports Goods Manufacturers.
The report mentions that regardless of your role in serving the ‘generate more growth’ objective, whether you’re receiving or giving end, understanding the buyer’s purchase journey is crucial to discover growth opportunities.
The NSGA’s study is grounded on research carried out over attitudes and behaviors of 1600 different sporting good shoppers and added 3600 in-store observations. Here’s a quick review on the study’s key findings.
A sport shopper’s journey starts with purchase decisions which are planned at times, bur unplanned as well. A planned purchase cycle looks something like this:
Consumer purchase behavior is categorized into 3 major types:
The study highlights another important factor – How sports shopper review purchase options early in their purchase journey. Whether it be planned or functional unplanned purchases up to 63% customers opt for research before purchasing.
It was further categorized and the research revealed that 67% of athletic equipment shoppers perform research prior purchasing, followed by footwear shoppers at 59%. Apparel is searched the least at 45%.
Another variable that the study included associated with online research prior purchase is the addition of age and price factor. According to it, products costing over $100 are searched by 78% of consumers prior purchase and 72% buyers aged under 35 years perform pre-purchase sports product research.
For research and information no dominant source is determined. However, Amazon and other online stores tend to be the most used influential resources.
Moving forward towards numbers study reports that customers who choose to visit physical stores visit two outlets on average, whereas customer who do their research online, navigate around four websites on average. Sports footwear purchase has the highest number of stores and websites visited prior to purchase – four websites and four outlets. On contrary, apparel purchases has the least pre purchase research score – two websites and barely on to two stores.
The final takeaway associated with the planning phase is price. Whether the product is purchased or not, price is the most sought piece of information by sports good shoppers.…
Are you the one who dreams about top-notch website contains gigantic traffics of visitors and prospects?
Many of the B2B marketer or E-commerce sites entrepreneurs think to invest in building a hi-fi website. Furthermore, adding SEO technique to make it more efficient. That’s all. However, there is other multi-channel of e-commerce which is overlooked. If they are used in conjunction with SEO, there will be tremendous results.
It includes email marketing, direct navigation of URLs or bookmarking and affiliate marketing tactics.
Paid search includes drawing people traffic clicks through pay per click (PPC) toward your website. You can buy people clicks through Bing and Google search engines. As they drive traffic to your site, it can further lead to conversion and ROI. One needs to master the keywords management, building keyword levels and rates of conversion, etc.
There are various CSEs with a wide variety of B2B models for B2B Business Marketing from paid (Shopzilla, Shopping.com, Nextag) as well as free (Thefind.com and Google product search). They also play the vital role in bringing quality traffic of prospects to your site for order closing.
These are large sites like Amazon and e-bay, where most of the online customers buy products. One of the best ways is to buy space from these sites and market your products to their online shelves. They permit products for sale on their web pages.
Your site must be mobile optimized so consumers can quickly browse on their smart phones. You can explore research data of buyer search history of mobiles through tools like thinkwothgoogle.com etc. In this way, you can alter, change and update your course of action for conversions.
There is significant chunk of people available on Facebook estimating around 200 million and 750 million on Twitter. These websites are successful to win the trust and credibility of the people. Therefore enormous traffic of people makes transaction and purchase in masses from social media. Social commerce has become part and parcel of social media. However, SMM insights can give an edge to segment target audience and choose the best value for them.
A dream of top-notch e-commerce website can become a reality or near to the reality by using different tools of e-commerce smartly. It is like if you want to hit star try to hit moon if you miss the moon, you may land on stars. However, persistence and consistency can always bring growth and progress toward reaching a Big Dream.…
The foremost requirement to score gigantic revenue this holiday season is connecting with your customers’ right. For many reasons, running a promotional giveaway contest tend to serve the purpose best. Most brands opt for it as it’s no hidden strategy but only few are able to create the value and earn big!
Organizing a promotional giveaway may sound simple but it’s not as easy as picking a name randomly out of the hat. There’s more to it.
The campaign must be able to serve two purposes consecutively – band awareness and desirable profit. Doing it right allows for maximum impact in minimum budget. Contests cater to brand advertising as well when social media channels are used. 89% marketers report that social media channels gained their companies maximum exposure.
Other than exposure, social media marketing is highly effective for increasing website traffic and generating leads along with improving search rankings and customer relationships. A marketer should never forget these points.
Basically, giveaways are a marketing strategy, all you need to do is use the tools right to promote your brand and generate revenue.
Promotional contests are not done in a similar way. There are three different types of promotions – Sweepstakes, contests and lottery.
Contest - For candidates to enter a certain skill or effort is required to win the prize. Some poplar contests are grounded on a similar theme – users are asked to share a certain photo, video, caption or essay. In the end, the winners are finalized based on judgment and votes.
Sweepstake - On the other hand, sweepstakes require no skill or efforts and are completely based on luck or chance. Winners are selected randomly and no payments or purchases influence the decision.
Lottery – It simply means that candidates voluntarily made some sort of purchase or other contribution to enter the competition. For example, purchasing a ticket to enter the contest and win comes under lottery.
It’s recommended not to opt for lotteries because state and federal laws restrict such kind of giveaways. Prefer contest or sweepstakes and decide what you want to give away and whether you want to have a skill involved or pick the winners randomly. However, contests always turn out to be more exciting. It’s because they put efforts to win the prize, as a result, they stay engaged with your brand.
After deciding on whether you want to run a contest or sweepstake move on to choosing the right channels where it can be hosted. Generally, the most viable social channels include Facebook, Twitter, Instagram, e-mail and your website.
Its recommended to try multiple platforms rather than working on any one of them. Running the contest on multiple platforms allows for multi channel participation from the customer which caters to brand exposure even more.
Most brand owners choose to run the competition on their website but for some reasons that’s not very effective. Social media channels help to establish brand loyalty because people who follow you on social media are already interested in your business. Moreover, any actions they take on your business profile like commenting, sharing, liking or posting will be seen by their friends too, catering to maximum brand exposure.
This may sound unimportant but the fact is many companies make this mistake and loose some really potential customers. Your deadline has to be clear and highly visible on your contest postings. If it’s not prospects might turn away that the competition has already ended even when you haven’t declared any winner. The loss is worse when prospects decide not to share your postings just because they couldn’t find any deadline.
Another reason why you need to keep the deadline clear is to avoid late entries. Suppose you are running a contest on Instagram where the contestant with maximum number of likes wins. The competition has ended and the winner is determined. Later on another contestant participates and scores more number of likes than the one you selected and claims the prize.
What will you do now? And this may a not very good image of your company. To avoid such headaches down the road make sure not to keep the deadline vague.
Here comes the most important part – There has to be no confusion while the contest is ongoing. Every contest comes with rules which may vary depending on the location and legal regulations. Consider the following set of rules that are generally included:
Other than these it’s also important to consider the rules and regulations of each social platform you’re hosting your event on. For example, if you’re using Facebook it’s important to ensure that your post by no means should be affiliated, endorsed or sponsored by Facebook – The Company.
Deadline is all set, rules are clear, now what? Have you considered what you will be giving away? Be sure that the prize coordinates with your brand image and must be attention worthy.
For instance, your business deals in snowboarding and ski equipment. Now running a contest that offers 3 day holiday in Bahamas certainly won’t make sense. Instead offering the opportunity to fly to a sky lodge will perfectly speak to your audience.
If you are intended to give away a physical prize make sure to include a picture as it won’t be attention worthy for your customers unless they see it.
Well, promotions never actually go without Hashtags, if you really get it. All you need to do is come up with a unique Hashtag that perfectly speaks about your brand and the promotion as well.
In case you are new to it and can’t compose an interesting one, use Hashtagify. The tool helps you identify the current trends in industry. You also get to know if anyone else is using it because you’re supposed to use a new one.
Those who are already working with Hashtags, be sure to use a different one for each contest.
Be sure that Mobile Users are not Left Behind – Run your contest on social platforms that are strictly for apps like Instagram. Facebook and Twitter are also available on apps. Moreover, if you have your own app, consider it for the contest as well. You can easily notify your customers with contest updates directly on their phones.
Keep the Social Sharing Option Open – A share button has to be dominant enough for your audience to notice. This will get your contest maximum exposure.
Let Everyone Know About the Winner – It goes back to establishing the timeline. Keep in mind that you would need a week or two to select the winner depending on the volume of entries. Once you’re done announce the winner publically.
The bottom line is – you need to have a road map, a clear goal and running a giveaway contest would require some thought and planning.
Determine the kind of giveaway you want to run, choose the platforms you want to host it on and take good care of branding alongside.
Never stop after running a successful contest, head to the next one!…