5 REASONS WHY YOUR BUSINESS NEEDS A GOOD SOCIAL MEDIA PRESENCE

-Ankita Roy

“In the world we live in today, we no longer have a choice on whether to engage in social media or not. The question is, how well we do it.”

You can buy attention. You can beg for attention from the media. Or you can earn attention by creating something interesting and valuable and then publishing it online for free. When it comes to marketing, what are the uses of social media and why it would do you good to hire a social media marketing agency? Why use this platform?

Marketing is no longer about YOU but about the STORIES you tell. A brand is no longer what we tell the consumer it is – it is what consumers tell each other. And what could be a better platform to achieve these objectives than social media and by the very people who specialize in exactly this!

At this point in the game, not having an active social media presence is kind of like pulling out a flip phone at a business meeting and then not understanding why your boss keeps giving Ramesh all the new accounts. But some people still own flip phones, and some people dig in their heels and say, what is social media marketing going to do for me? Do I really need it? Yes. Yes you do — and here are some of the most compelling reasons why: 

Know your customer base

Part of what makes things like Twitter and Instagram marketing so cool is the interaction you get to have with your customer base — you can read their tweets and status updates to get insights into their daily lives (and maybe adjust your marketing strategy as a result). What products are they buying and why? What are they doing on the weekend? What kind of posts do they love to share, and from what websites? You can also use social media as a tool for connecting with complementary, non-competing businesses, thought leaders and tastemakers in your space, as well as journalists who cover your industry. Sometimes, becoming besties starts with a simple retweet. 

Respond to customer complaints

If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.

If there’s a problem with your product or service, you want to know about it right away. With the feedback you get in the process of social media marketing, you’ll be the first to know when there are issues – and you can take steps to resolve them right away. Study after study has shown that consumers appreciate companies that respond to customer complaints (and don’t hesitate to rant online to anyone who will listen when companies don’t take the time to make things right).

Stay ahead of competition

Did you know that 91% of brands are using more than one social media platform? This isn’t something you want to fall behind the competition on because it’s much harder (and more expensive) to play catch up than it is to get in on the game early. If your competitors get to your potential customers first, they’ll earn their loyalty and you’ll have a hard time winning them over. If you’re active and engaging on a variety of networks, you can gain those friends and followers first and your competition will be playing catch up instead of the other way around.

Tap your potential Customer

Customers, you didn’t know existed will find (and buy from) you. In the process of marketing with Facebook, you’ll probably join a ton of groups related to your products, industry and customer base. By posting links on these groups, you’ll help influence customers to check out your site. Answering questions You Can't Beat the Price (or ROI) of Social Media.

Get featured on a trending topic

When it comes to newsjacking, social media is king. Sometimes your brand is mentioned on a cable TV show. Sometimes it’s not, but you know just how to slide your product into the story to aim the spotlight in your direction. Facebook, Twitter, and even Reddit marketing gives you a front row seat to the news that’s becoming viral right as it’s happening. Jump in at just the right time and you’ll earn some major media attention — and that’s something you just can’t do with a traditional ad campaign. 

Get website traffic/Store Walk-ins

People view Twitter and Facebook as social networks, not marketing machines. As a result, they’re less likely to see what you post as an advertisement and will be more likely to hear what you have to say. This translates to serious web traffic when you link to your site and posts that market themselves as your friends and followers share what you’ve posted.

Simply put, social media marketing is part of doing business in the new millennium. If your business isn’t already active on social networking sites, now is the time to start. Before you go blindly winging your way into the social mediasphere, a word of warning if you will: PLAN YOUR ATTACK!! You can waste hours on social media marketing to no positive effect, therefore allocate some marketing budget to dip your toe and get some assistance if you are not 100% sure of how to approach the medium. That is to say, hire the social media marketing guys to do it for you. 

The Story of Alma Mater

-Pratiti Nath

Ever dreamed of a store delivering customized t-shirts, tops and all other kinds of apparel? Alma Mater is just that. Now wait! it isn’t just any other kind of customized product selling merchandise. Here you get products customized according to the institution you are affiliated to. Your very own customized college products.

Origin of the idea

"Three years ago, two friends, one too many beers, one kickass business idea, one million dollar company… This, in a nutshell is how Alma Mater came about."- this is how the alma mater story begins in their facebook page. This company is a brain child of 2 people- Varun Agarwal and Rohn Malhotra way back in 2009. They hit upon this idea while reminiscing their good old college days over a chilled beer. That’s when the idea of catering to the needs of alumni of various colleges came into light. Thus, the name Alma mater. Varun started this apparel store targeting the necessity of memorable items and apparels for different institutions alumni. Soon, after that he wrote a book titled ‘How I braved Anu Aunty and co-founded a million dollarcompany’. This became an instant hit paving the way for him and his company. The company is based in Koramangla, Bangalore.

The Journey So Far

The major feature of this online apparel website is its “PLAY” tool.  As the name suggests you can literally play with the design, graphics, colour, fabric and other aspects of your desired products. Unlike other websites they don’t offer you selected choices. Here you can make your own designs and order them. Their unique outlook and aesthetic designs led to huge leap in profits. They manage to ship 15000 products every month. 

Keeping the target audience in mind the price range remains at an affordable limit of 450-700 rupees. Till July, 2013 they have sold 3,00,000 products. With the help of these tool you can draw doodles, make designs. As many as 800 fonts and 2000 vectors are at your disposal. Apart from that you can add your institution logo and change the background colour. Thus it provides huge pool of creative potential to unleash your creativity and wear it on your t-shirt. A plus point of this tool is its social forum. One can form groups here and easily discuss & build design with their friends. Till 2013 the response is substantial with almost every associations using it – from school students, college students to start-up companies to individual group associations. The company first started out-sourcing their work but now the manufacture & printing process is solely done by their 200 dedicated workers. This has removed the hazard of relying on others and minimized errors. With the incorporation of the PLAY tool, work has cut down further as continuous involvement with the customers aren’t required. One can just create their design and order it. As of now, they have worked for 2500 schools/colleges, 600 corporates, 100 start-ups spreading over 180 different cities of the world. This includes India and 6 other countries. Till May 2016, the company website registers 323401 happy customers, 15232 customized designs, 3554 college clients and 458420 likes on facebook 

Future outlook

The current focus of the company is to be the number one merchandise in customized t-shirt & products market. Their sole agenda is to completely monopolize this market and rake the 25-30% gross margins to even greater percentage. 

The Story Of Chumbak

-Pratiti Nath

We all like to travel and collect souvenirs and mementos from places we have visited. Now, think of a foreign traveler, travelling to India and looking for objects to remember the place. Well, here the market is flooded with conventional showpieces and mementos of monuments like Taj Mahal, Howrah bridge, India gate or Qutub Minar. At best clothing like saris and pashmina shawls.

A couple from Bangalore got bored of all this. Vivek Prabhakar and Subhra Chadda thought of channelizing their frustration to come up with a business enterprise. Thus, in 2010, started the journey of Chumbak, the popular lifestyle brand. The name by itself attracts like a magnet, and indeed true to its property. As illustrated by the co-founder Vivek Prabhakar, the name means “kissing stones”. As they wanted to monopolize the Indian refrigerator magnets market. Their tagline “home is where the love is” delivers the ultimate attraction punch for a lifestyle 

The Journey so far

Chumbak with just 45lakhs arranged by the couple by selling their house. It started as a 30 member souvenir store and ended up being a 150 member lifestyle store. The duo coupled their knowledge with pragmatism. It started as an online store that continued to flood the e-commerce market. 2012 brought the opportunity of seed funding via Matrix partners. Then , in 2013 they opened their first flagship store in Bangalore. 

Visiting their store or browsing through their products will make you gasp in disbelief. It has a quirky, colourful and vibrant range products. They have a magnificent range which spoils you for choice. It has  a wide range of lifestyle products – from key chains to mementos to dresses to footwear to apparel to jewelries to bags, wallets, watches, phones- all under one roof. 38 categories with more than 500 products. Thus, here is a brand which perfectly understands your needs. Price, design, style, range, colours EVERYTHING!!!

Like all start-ups they wanted to be different but in a different way. The company philosophy is to do it in a fun and lively way. This is visible in their public interaction and eccentric vibrant range of products. They team up the curiosity of a child, the innovation of youth and the experience of a knowledgeable person. 

Another potent problem for a start-up is real estate. Subhra and Vivek were pragmatic in this matter. They started with small kiosk of 150-200 square feet and then made it to 2500 sq ft. They have 20 such kiosks with more than 60 outlets in 5 major Indian cities. Of them Delhi, Mumbai and Bangalore gathers the maximum revenue (60%). 15% of sales are made through online. They are first of its kind store. They are quick to adapt with changing market dynamics and fashion trends. This lead to an unprecedented growth rate of 300%  in 5years. 

Future Venture

In the coming years they are targeting a 400 crore annual revenue. It is vying to spread its wings all over India. Their future target is to open more such kiosks in other cities. Chumbak planning to boost is online sales percentage to meet the target. 

Overall, with their unique set of ideas and executions they are a force to reckon with it. A viable start-up story for every entrepreneur dreaming to make it big.