growth strategy

5 ways ‘Big Data’ can boost your Digital Marketing Success!

TBM-5-ways-big-data-can-boost-your-digital-marketing-success

We have come a long way in Digital Age and Big Data has firmly established its footing in marketing departments across the globe. Not only has it helped in assessing the interactions of the customers at a granular level but also in analyzing the past trends and predicting the future behavior of the customers – thus unlocking new opportunities.

Digital age has bought with it tons of data. Businesses are increasingly evolving by extracting information from this sea of data and –

  • Predicting behavioral patterns of their customers,
  • Making informed strategic marketing decisions and
  • Unlocking new trends

“In marketing, there is only one strategy that never fails – market to your best customers first, your best prospects second and rest of the world last”

Data-driven marketing has become the norm of today’s businesses. Rather than trusting assumptions or gut feelings, modern marketers are making decisions based on numbers. In fact, spending on data-driven marketing has risen over 70% in last couple of years making it imperative for marketers to use this extensive data for-

  • Analyzing and Capturing Leads,
  • Fine-tuning their campaigns and
  • Growing the bottom lines of the businesses they represent.

Below are the 5 ways of using Big Data to boost your Digital Marketing Campaigns:

  • Shifting gears from Content to Context: Big data plays a major role when it comes to timing and content distribution. With a detailed data on followers, you have the best window to reach them and squeeze in most out of each and every piece you publish.
  • Conversion Optimization: Big Data helps in understanding how the leads and traffic moves from Point A to B i.e. what are the bottlenecks in the sales funnel and where the lost traffic is dropping off. It makes you understand the customer behavior in terms of “when” and not “if” – thus optimizing your business operations.
  • Personalized Services: Big data gives more personalized information about customers and helps you tailor your offerings thus building more meaningful relationships.
  • Proactive Decision Making: Even though it could be overwhelming analyzing the large amount of data and information but it actually offers deeper and clearer insights leading to efficient decision making that is proactive and not reactive.
  • Boosting Digital Sales: Even the most minor details in digital sales could result in major profits or losses. The information provided by big data could help in optimizing pricing strategy, predicting demand trends and analyzing why certain product/services are falling flat.

Building up a highly qualified and purchase ready digital audience and converting them into loyal customers by anticipating their needs and offering true value is the dream of any business.

And one thing that nurtures this dream is BIG DATA – one can easily capture the attention of their target consumers in real time from their competitors and leverage the same to their advantage.

Visit us :- http://www.turkblue.com

 

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business strategy, growth strategy, Uncategorized

Stop being defensive! An Offensive Mindset is paramount to Growth

“The best defense is a good offense.”

Many entrepreneurs strongly believe that in this ‘age of entrepreneurialism’ a mindset and determination is what carries them to the finish line and distinguishes them from the crowd of hundreds (if not thousands) of other business providers in an  industry.

Difference in mindset of two entrepreneurs plays a major role in their entrepreneurial success. Some people believe to be defensive on their part and struggle to get the attention whereas many leaders proceed with an offensive mindset to create a momentum and determine the operational performance of their business.

Getting offensive in their strategy-execution process brings them increased visibility, more engagement and eventually, higher revenue. Also, business leaders who take a reactive posture under those unfavorable circumstances when time is tough get better market share as well. They’re able to navigate this potential competitive landscape with the minimum self-inflicted wounds.

I strongly believe that entrepreneurship is not about being offensive or defensive. In today’s dynamic business world, business leaders must behave in a proactive way to every uncertainty.

By adopting a more collaborative and transformational mindset, leaders add value to their business objectives and achieve the best outcomes. Proactive mindset makes entrepreneurs to anticipate the disruptive changes without any knee-jerks reactions.

The choice to be proactive or reactive is all yours.

growth strategy

“The most valuable thing you can make is a mistake. You can’t learn anything from being perfect.”

As a business leader, having a perfectionist’s eye can surely drive you to that extra mile. But aspiring to outshine in something you do and aspiring to be perfect are two different attitudes which are often perplexed.

Though having high valuesprinciples and targets are a great strategy to achieve the business vision and make it profitable but perfectionism can, in fact, be detrimental to your achievement, accomplishments as well as employee motivation.

In business marketing, initially marketers used to chase for that ‘first-mover-advantage’ in the market where the first in market used to get an edge over the competitors. But as we evolved to a more technology and digital driven era, it’s not the BIG that eat the SMALL but it’s the FAST that eat the SLOW. Business leaders should understand that the ‘fast followers’ take the market by storm and emerge as the real winners and not the first-movers.

Why? Because they improved on these newly launched products/services and overcame any inefficiencies with reduced cost margins. What really matters in today’s world is ‘ being the best and not being the perfect’.

Beware of these Perfectionists’ Evils:

Perfectionists can often get fanatic over every little detail, thus directly affecting productivity of the business –

1)    Robs the Dynamism of the Project: Innovation and creativity are essential for any business success but they do involve an element of risk. To stay competitive, it’s important to take risks and adapt to ever-changing market scenarios. Shift your mentality from perfectionism to optimism. Try to shift your rigid approach towards your business goals and become more adaptive. This will make your business more productive and keep you protected from unnecessary struggle you endure to get perfectionism under control.

2)    Makes you the ‘dictator’ of the team: Try to keep your perfectionist tendencies in check and stop behaving like a Bully Boss. Emphasize on collaborative leadership and gain advantage of group synergy. For the solitary leader, it is really important to involve everyone from your respective teams and welcome their ideas. Team synergy plays a major role in accomplishing those great feats that would be impossible for an entrepreneur to attain as an individual. Work with your team, listen to their ideas, have trust and give them freedom to do their jobs. Because even if your thought process is flawless, it can be improved by an insight of other team members. Only then, you’ll be able to achieve success in your business.

3)    Destroys Creativity: Innovation, Creative Thinking, and Curiosity are shaped from uproar, something perfectionists hate to the core. Perfection paralyzes creativity as the perfectionists are more likely afraid of taking risks associated with criticism and rejection. Instead of chasing to an impossible ‘perfect’ business strategy, all those prototypical Type As should settle for something ‘good’ and let go of the idea of idolizing the pinnacle of perfection.

4)    Prevents from meeting Deadlines: From its initial requirement phase to its delivery phase, a business plan constantly evolves. It’s important to set milestones to have that sense of accomplishment and to feel inspired to work for the next stage but not at the cost of stiffness. A business has to be flexible enough to update their plans and reach out to new customers. So set realistic milestones keeping in mind areas of improvement at every step. If you are always thinking about that perfect outcome, you are sure to skip your deadlines.

If the hare would not have waited for that perfect time to reach the finish line, he would have won the race far before the tortoise. So strive for steadiness and not perfection in your business and it will prosper, irrespective of the competition and environment.

Wrapping it with a very apt saying –

Perfectionism says,”Don’t start (it won’t be good enough),

Don’t finish (you’ll be criticized),

Don’t take risks (you’re going to fail) and

Don’t collaborate (they’ll never live up to your expectations)!

Perfection is ‘not’ an entrepreneur’s friend. It will kill your dreams, dampen your spirit and disrupt your entrepreneurial flow. Take back your power from this confidence destroyer and you’ll be unstoppable for your success.

Recruitment Strategy

Have you ever noticed those indoor navigation maps in shopping malls that say, “You Are Here”? The navigation maps exist to guide you in the right direction in an unfamiliar space and help you to reach the desired location.

Our journey at the workplace is precisely like a shopping mall with no clear destination. This journey is not always about the rainbows and unicorns. Sometimes, it pulls you down by great storms of failure, and you get lost on a bumpy road of tough challenges with this unerring sense of direction.

The winning weapon is INTELLIGENCE

Just like a navigation map in the shopping mall, intelligence orients you in organizational structure, and the true potential ensures that you’re as good as you can possibly be for the role you’re hired for. Your capacity to understand and process knowledge in right way helps you to know where you are, where you want to go, and how to reach the desired location.

INTELLIGENT hiring is the order of the day

Gone are those days when recruiters were blindly hooked for the magical numbers i.e. years of work experience at the time of recruitment. High-potential talent and intelligence are beating years of irrelevance hands down.

The HR professionals are gradually evolving from the age-old hiring trends to better talent acquisition to address changing market dynamics. They’re looking forward to induce people who are potentially trained with the right skill-set and ready to take on their challenging roles in the workplace. Also, millennials (Generation Y) are a passionate pool of employees who bring an enormous amount of positive energy in an organization.

Some differentiating factors of hiring the Millennials in the workplace are:

  1. They’re the young growth-oriented workforce who are always curious to learn new things and intense to master their area of interest. Generation Y has greater focus and dedication towards work.
  2. They’re ready to walk that extra mile willingly to achieve the work-related goals and let their organization thrive for long.
  3. They’re quite flexible and ready to adapt to tough working conditions very smoothly. Long working hours never demotivate them.
  4. They focus on incentivizing productive behaviors within an organization instead of concentrating on non-productive behaviors.
  5. They look at opportunities and challenges as their best companions to enhance their capabilities.

From the biggest corporations to struggling startups, everyone is willingly replacing the traditional steady generation of the workforce with a dynamic workforce of millennials to become more responsive in today’s increasingly complex business environments.

Because it’s not about the HOW or the WHAT but, what truly matters the most in today’s new era of talent spotting is the ‘WHO’. There is no point recruiting someone with five years of irrelevant work experience. Sometimes that six months experience is more valuable than those so called magic numbers.