How Can Millenials Use Digital Marketing to Build Local Businesses
Representative image (Image: News18.com)
As a consumer, haven't you ever wondered what makes that handbag or watch or those perfect pair of boots so alluring on your feed? Why is it that you would walk past the same overpriced product at a mall but can't resist the pull of that made-for-you slogan t-shirt when it pops up on your Instagram feed? That's how effective digital marketing can be. Especially at a time like this, when one is almost constantly hooked onto a device.
But what happens behind the scenes? And how do you buy in? Suchita Salwan of the Little Black Book says that the biggest driving force behind digital marketing, especially when its targetted towards Millenials, is 'Accelerated Signaling'. "Today, every item of clothing, every accessory, everything you wear or use is a status symbol", Salwan says. Digital marketing allows sellers to curate and personalise products as per individual preferences, making it possible for a product or service to stand out in an almost saturated market.
"We started LBB back when Facebook was popular and cool with the younger users and although most of our marketing or advertising was focussed on Facebook ads, the long game has always been to drive traffic to our web, and now app, platforms". This, essentially, is what Salwan advises for local brands and independent sellers and artists looking to conquer the online retail space.
So if you want to take your local business online and tap into millions of users on various social media platforms, here are some tips for you:
1. Don't make your brand about you. Focus on the product instead. The shelf-life of any product or platform is quite short so if your brand's popularity stems from you, it will fade when you are no longer the coolest 'it' thing on social media.
2. Change revenue streams and product content on a regular basis and make sure your marketing strategy adapts to the requirements of different social media platforms.
3. On that note, Salwan adds that one mistake she sees newcomers make is not investing enough into their digital marketing campaigns versus the share allotted to advertising through traditional media. "Don't keep all your eggs in one basket and keep switching it up when it comes to ads".
4. The most important takeaway Salwan adds, especially for Indian businesses is to "never monetize without value creation". After all, if you have an expensive, exclusive product but no brand built around it, which Indian consumer will spend their money on your product?