Strategies For Small Shopkeepers To Compete With E-Commerce Giants
The online vs offline shopping debate has gained steam in the last few years. The food and grocery sector in India is poised to grow at 11.6 % in the next few years. Online vs offline shopping statistics show that the rise in smartphone use has allowed customers to explore multiple options when purchasing a product. According to a PWC report, 54% of smartphone users made a retail purchase using their phones. The rule of the neighborhood ‘Kirana Wala’ is being challenged with hyper-local e-commerce startups which promise unlimited product options at steep discounts. Online Shopping Advantages The big e-commerce players
Read moreHow To Write About Your Product For Different Channels
Are you wondering why a good product description is important? Picture this. You’ve worked hard to create a product that you think will be a hit. You have launched the product but you realize that many potential customers are not able to understand the purpose of the product. This is particularly true, if your business or service is provided to customers directly and not to intermediaries. A product description fills this information gap, and seeks to educate users about the necessity of the product. How to Write a Product Description Start with the Customer Persona: Stephen Covey’s number one lesson
Read moreThe A – Z Guide To All Documents Required for A Business Loan
There is often a lot of confusion about the documents required for business loan. Most loan applicants dread the complex paperwork as it is the most tedious part of a business loan application.This guide will explain how to craft a successful loan application with the necessary documents. Most lenders clearly outline their business loan eligibility and business loan requirements. KYC process: This is the process followed by a lender to gain a thorough understanding of a borrower before offering a loan. Most lenders follow this process to verify the credentials of their loan applicants. Due diligence mandates that financial institutions
Read moreWhy You Should Create A Customer Persona For Your Product
Imagine a salesman who has been assigned to sell credit cards. He wanders around the city in front of cinemas, markets and stadiums trying to convince people to purchase credit cards. Over time he realizes that standing in front of offices greatly increased his sales. It so happened that people who had jobs were most likely to purchase credit cards. The salesman identified the customer persona that would yield him higher sales. What is Customer Persona? The importance of customer persona can be highlighted with this principle. The first question one should think about while marketing a product is “Who
Read moreThese 4 Customer Retention Strategies Will Help You Beat The Competition
Customer Retention can be considered the most important marketing strategy. It is easier and much cheaper to target a customer who has already purchased your product in the past. Companies have built loyalty programs to provide benefits to returning customers. The ‘loyalty’ program is based on the approach that the customer can get a discount if he purchases a product for the second time. The main issue with this traditional loyalty approach is that it requires a customer to make a purchase for the second time. What is customer retention? In very basic terms, customer retention refers to the ability
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