A Comprehensive Guide to Real Estate Digital Marketing
Aug 25, 2023
10 min read
Saffron Edge's Real Estate Digital Marketing Services are meticulously crafted to elevate your property ventures to new heights. From engaging websites to strategic SEO, we offer a comprehensive suite of solutions designed to drive results.
Embracing the Future: Why is Real Estate Digital Marketing Essential?
This age is marked by digital transformation and the real estate landscape is undergoing a profound shift in how property developers, agents, and buyers interact. We're here to guide you through this transformative journey, helping you employ new digital marketing services to not only survive but thrive in the evolving real estate market.
Unveiling the Power of Digital Marketing
Digital marketing is the cornerstone of modern real estate success. It's not just about having a website; it's about crafting a comprehensive strategy across various digital channels such as search engines, social media, mobile platforms, email, and websites. This strategy extends your reach, nurtures connections with potential buyers, and drives awareness, sales, and loyalty.
Compliance with Traditional Approaches
It's important to recognize that digital marketing isn't a standalone entity. Its impact is amplified when integrated with other communication avenues like print, direct mail, radio, TV, face-to-face interactions, and PR efforts. You create a more holistic and impactful approach by harmonizing digital marketing with your core sales and marketing activities.
Owned, Earned & Paid: A Framework for Success
Our Owned, Earned & Paid marketing model provides a straightforward framework to structure and execute your marketing endeavors. This approach goes far beyond the mere listing of properties on aggregator platforms. It's a multifaceted strategy designed to elevate your brand that can only be provided by the best Real Estate Marketing Agency in the industry.
Transforming the Roles
Property developers are no longer passive entities. They're becoming active participants in the marketing process, forging lasting relationships with buyers and communities. Agents are harnessing data and customer segmentation, employing marketing automation systems for personalized, efficient communication. Property marketing agencies are reinventing digital campaigns and content strategies, tailoring them to various buyer stages.
The Shift in Direct-to-Seller Trend
A new trend is emerging – the rise of "buyer-direct" interactions. Homeowners are increasingly opting for social media marketing by posting ads on platforms and forums to reach potential buyers directly. This trend is in its infancy but rapidly growing, empowered by technology-savvy buyers seeking control over their property transactions and cost savings.
The Implications and Opportunities
The dynamics among key players in property buying and selling are evolving rapidly. Traditional advertising methods are giving way to digital channels that influence homebuyer decisions. Developers must not ignore the opportunity to develop their own digital strategies in tandem with agents. This parallel approach creates harmony and leverages the best of both worlds.
The Digital Advantage for Property Developers
The shift is real, and the opportunities for property developers who invest in their digital platforms and connect meaningfully with buyers are immense. A sustainable competitive advantage is within reach for those who embrace digital marketing, build their networks, and gather valuable data to inform future marketing endeavors.
Navigating the New Home Buyer's Journey
Today's homebuyers are the most informed in history, utilizing search engines, social networks, forums, and mobile apps to navigate the property landscape. Their journey consists of five stages: consideration, online research, active search, transaction, and post-sale. To succeed, developers and agents must adapt their strategies to each stage, providing the right information at the right time through the right channels.
Our Unique Approach to Real Estate Digital Marketing
Masterful Web Design and Accessibility
Your website is your digital storefront. We design visually appealing, user-friendly websites that adapt seamlessly to any device – whether it's a desktop, tablet, or smartphone. Guiding potential buyers through a smooth online journey, we ensure web development that will let them find what they need with ease.
Compelling Content that Converts
Content matters, which is why our digital marketing professionals creates captivating and informative content that resonates with buyers. From crafting compelling property descriptions to delivering insightful blog posts, we provide content that speaks directly to your target audience.
Dominating Search Engines
Standing out in the digital crowd starts with being found. Our adept SEO specialists ensure that your properties shine on search engine results pages. We optimize for local and broader searches, positioning your listings right where your potential buyers are looking. Our local SEO experts will make sure to put you on the top!
Speed and Reliability
First impressions matter online, and speed plays a significant role. Through top-tier hosting and meticulous technical execution, we guarantee your website is fast and reliable, ensuring a seamless experience for visitors.
Microsites for Amplified Impact
Our innovative microsite strategy is a game-changer. Seamlessly integrated into your main website, our microsites provide dedicated spaces to showcase your projects. This approach accelerates search engine indexing and turbocharges your SEO efforts.
Conversion-Focused Strategies
Turning visitors into buyers is our forte. Our digital marketing strategy features strategic placement of call-to-action elements, lead-capturing forms, and seamless integration with CRM systems. The result? More leads converted into committed buyers.
Actionable Insights with Analytics
Knowledge drives success. We implement Google Analytics and tracking codes to provide real-time insights into your website's performance. This empowers you to make informed decisions and adapt your strategies as needed.
Social Media Engagement
The modern buyer is social-savvy. We harness the power of social platforms to engage potential buyers, effectively showcasing your properties and building a dedicated community of followers. Hire the best social media experts for that!
Email Marketing Excellence
Stay connected and nurture leads with our CRM and email marketing integration. Tailored campaigns and personalized interactions keep your audience engaged and your properties top of mind.
ROI-Driven Advertising
We take your investments seriously. Our ROI-oriented online advertising campaigns ensure your marketing budget is utilized efficiently, targeting the right audience at precisely the right moments.
Take Your Real Estate Endeavors to the Next Level with Saffron Edge
Saffron Edge is designed to be your strategic partner in achieving real estate success. We're committed to driving outcomes in a competitive landscape from growth to engagement and conversions. Your journey toward success begins with us.
Expand Your Real Estate Horizon with Ads
Strategic online advertising is the ultimate game-changer. At Saffron Edge, we understand the need for digital marketing for real estate companies and hence, bring you a comprehensive suite of online advertising services tailored to drive visibility, engagement, and conversions for your properties.
Diverse Online Advertising Channels
We harness a range of online advertising platforms to amplify your reach and impact
- Google Adwords: Appear on Google search, Gmail, and third-party websites, ensuring your presence when potential buyers are actively seeking property information.
- YouTube: Showcase your video ads before users watch their desired videos, giving you prime exposure.
- Social Media (Facebook, Twitter, LinkedIn): Capitalize on highly targeted ads by demographics and interests, reaching users with property-related preferences.
- Native Ads: Secure direct ad placements on selected websites, delivering your message seamlessly to your desired audience.
Unveiling the Power of PPC
At the heart of our online advertising strategy lies pay-per-click (PPC). The joint effort between traditional, inbound, and PPC strategies yields remarkable results.
- Achieve prime visibility on the first page of Google, bolstering your SEO strategy.
- Flexibility to swiftly modify ads to align with dynamic campaign needs.
- Precision targeting on local, regional, or national scales.
Crafting Your PPC Strategy
A clear 'goal' is paramount for a successful PPC campaign. Integration with dedicated landing pages and microsites enhances the effectiveness of your campaign. Whether it's capturing buyer contact details or facilitating direct calls, your PPC strategy aligns directly with your conversion objectives.
Embracing Remarketing for Long-Term Impact
Remarketing is a potent tool that re-engages users who have previously visited your site. Witness your properties' presence linger across the web after users have explored your offerings. This strategic approach keeps your properties in the spotlight during extended buyer journeys.
Collaboration of Organic and Paid Visibility
While paid search ads deliver quick impact, a long-term strategy for search visibility involves organic search engine optimization (SEO). Your website's role is pivotal in SEO success. By understanding your buyers' keyword preferences and integrating them into elements like page titles, headings, and content, we ensure your website's alignment with buyer intent.
Social Media Strategy and Influence
Our commitment to optimizing your real estate presence extends to the dynamic realm of social media. Platforms such as Facebook, Twitter, and LinkedIn offer invaluable opportunities for engaging with potential buyers and nurturing lasting connections. Our approach can be traced by a few practices;
- Strategic Organic Engagement: We curate compelling property news and deliver value-added content, fostering a sense of community among our followers. Through consistent updates, we establish trust and credibility.
- Precision in Paid Marketing: Our expertise in paid marketing ensures your message reaches a broader audience. Targeted ad campaigns on social media platforms expand your reach, connecting you with prospective buyers who align with your offerings.
- Crafting Impactful Social Ads: Our team excels in crafting persuasive social media ad campaigns. Leveraging advanced targeting options, we align ads with your audience's preferences and behaviors, maximizing your ad spend's effectiveness.
- Influential Partnerships: We recognize the influence of trusted voices in the social sphere. Collaborating with relevant influencers amplifies your brand's presence and credibility, particularly within the real estate sector.
Expanding Your Reach Through 3rd Party Platforms and Backlinking
Our strategy extends beyond your website to 3rd party platforms. Through the creation of listings and profiles on well-known property listing websites, we harness the power of backlinking to channel traffic to your platform, enhancing lead capture. We deliver content that prospective buyers are searching for and actively engaging with them, establishing valuable connections and positively influencing their purchasing choices.
Partner with Saffron Edge: Elevate Your Online Advertising Game
Saffron Edge stands as your steadfast partner in the ever-evolving field of real estate digital marketing. With deep-rooted expertise in industry marketing, we cultivate strategies that drive exponential growth, leveraging the power of growth marketing, paid media marketing and DTC marketing and outreach. Our prowess extends beyond conventional approaches, encompassing specialized legal marketing services services and dental marketing services that redefine the boundaries of targeted engagement.
At Saffron Edge, we go beyond aesthetics, delivering website design services that seamlessly fuse creativity with functionality. Our commitment to excellence transcends marketing, as we offer insightful business consultation services that pave pathways for success. Our holistic approach includes bolstering your brand's identity and amplifying its presence through a spectrum of services.
Our on-page SEO experts and lead generation SEO strategies ensure that your digital footprint remains not only visible but impactful. The collaboration with our ingenious mobile app developers brings innovation to the forefront, and our brand services bridge the gap between you and your clientele.
In essence, Saffron Edge is more than a service provider; we are catalysts for your digital journey, igniting growth, visibility, and engagement. Partner with us and witness the transformation of your real estate endeavors into a digital saga of triumph and resonance.
Drive Exceptional Growth without an In-House Marketing Team
We drive business growth by optimizing every inbound channel to attract and convert high-quality clients for you
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Why Your Dental Practice Needs More Shareable Content
For as long as we can remember, businesses have relied on advertisement medium to capture their majority audience. But much like dinosaurs and cavemen, the traditional TV and media advertisements have become a thing of the past. Today, where in a world of 7.7 billion people, almost half of the population uses internet to look for businesses and everyday things, it has become extremely important for businesses small and big alike to have and maintain an online presence. For potential customers, one of the most important aspects of learning about business has shifted from traditional advertising and consultation. Businesses now rely on content marketing to engage their audience in the digital sphere. Adopting a carefully crafted content marketing strategy can result in greater audience engagement and leads for any business imaginable. What Is Content Marketing? To better understand why content marketing has become a go-to strategy for marketing professionals, it is important to learn what content marketing is. Content marketing a carefully planned marketing approach that focuses on the creation and distribution of content that is relevant, unique and valuable to attract, engage and retain targeted audience with the aim of generating and converting potential profitable leads. Simply put, content marketing is any type of content, whether blogs, videos, infographics or visual content created and shared with the goal of attracting, engaging and retaining audience. Content Marketing For Dentists Everybody knows that they should be visiting a dentist regularly in order to maintain oral hygiene and a healthy smile, but what dentists don’t know is that 51% of their potential patients use internet search engines to look for a dentist. Just acknowledging the above fact is sufficient enough to realize how important it has become for dentists to ensure they are among the top results of search engines. Now that you have fully absorbed just how much important it is for your dental practice to have an online presence, it’s time to look at how you can make sure to appear in the results when a potential patient is looking for a dentist. Most people, when looking at content marketing focus on placing and using keywords throughout their websites. However, this is not a strategy that can yield long term effects for your dental practice. The simplest way to understand how a reader or searcher can become a potential customer is to realize that the people searching for dentists online are human. Only providing human connection and building a relationship with your reader is the way to build trust and ensure they choose you. If you have a dental practice business or are a dentist, and are still not convinced on why you should be looking at content marketing to bring in more business, here are a few reasons why content marketing can do wonders for you. Why You Should Consider Content Marketing For Your Dental Practice? 1. Improved Visibility Unique and engaging content can provide you a better opportunity to optimize it in a way that will boost visibility. If you focus on creating content pieces that are informative and valuable, you will show up in search engine search results for when people are looking for similar topics you have covered. Once hooked, readers do not refrain from sharing the content. Valuable content creation does not limit your visibility to search engines, in fact if you post unique, engaging and informative content on your social media, people might share it with their friends and family bringing more and more visitors to your website, and we all know what more visitors can mean for your business. 2.Reach Target Audience One of the perks of using digital media for marketing your dental practice is that you can create specifically targeted content that can hit home run. Traditional ways of advertising have become tiresome, expensive and ineffective. With content marketing, you can target people looking for a dentist with effective content marketing strategy to attract your target audience, hence, filtering out people who actually are interested in your services so you can convert and retain them as your patients. 3.Build Trust Choosing a good dentist is not less than choosing a life partner. It can have a huge impact on the quality of your life. Which is why, you need to let your audience know that you are trustworthy and knowledgeable, and that they can trust you to take care of their smiles. When you create and post content that is informative, it shows the people searching for a dentist that you are not only experienced but you believe in sharing information for the greater wellbeing. Investing in good content can help your potential clients build trust in your knowledge and to show how passionate you are about your profession. 4.Build Reputation Nobody wants to go to a dentist that doesn’t have good reviews. Everyone including you and me look for referrals when it comes to choosing a dentist or any health practitioner for that matter, which is why you should be working on building a positive reputation among your patients. Using content that talks about authentic information and facts, gives out tips and tricks, and other essential information can help your dental practice build its reputation online. Once your audience identifies you as a reputed business, they won’t be hesitant in coming to you for their oral hygiene or recommending you to friends and families. 5.Stand Out From The Crowd Accepting the fact that almost half of the world’s population is online, it is assumable that there must be several other dentists with online presence, looking for potential patients. Now, if everyone is already online and out there, how do you make sure you attract your fair share of the audience. Here comes quality content. Investing in quality content will help you get noticed by your potential patients. Content that provides value instantly becomes a valuable asset that you are willing to share with your target audience and if you are willing to share the knowledge without any interest or gain, automatically sets you apart from the rest. Your audience soon recognizes you as a valuable connection to their dental health practices. 6.Provide Value Using digital media doesn’t mean that you have to attract and retain only new clients or patients, but it can also help you keep your existing patients well informed and interested. Creating and sharing valuable content provides value for your existing patients which ensures that they will keep choosing you for your services because of the value you provide to your existing patients. It’s a win-win for all. 7.Boost Growth/Increase Number Of Patients Effective content marketing strategy can help your dental practice attract and increase followers that may in turn convert into profitable clients. Creating shareable content gives you an edge over your competition because the more times your content is shared, the more audience it reaches creating a follow back link to your website. 8.Brand Awareness Among all of the digital media marketing aspects, investing in good content marketing strategy is crucial as it creates a platform for your target audience to build an association with your brand name. If you create content that has valuable information and sticks with your audience, they’ll automatically associate the piece of information with your brand name. This effect creates a beneficial word-of-mouth marketing platform that you won’t even have to work on forever. Now that we are convinced on the wonders content marketing can bring to your dental practice, let’s take a look at how you can actually approach content marketing in real life. How To Approach Content Marketing For Dentists With everything in life, strong planning and execution are the keys to having desired outcome. And content marketing isn’t any different. For this blog, let’s learn from the pros. The experts at CoSchedule have broken down the content marketing process into four big buckets. Planning Publishing Promotion Measurement Let’s look at all of these buckets one by one. Planning We can’t stress enough on the importance of planning in the whole process of content marketing. Smart planning is the key and will definitely save you a lot of mistakes and hurdles later on. Identify Your Audience One of the first steps in planning a content marketing strategy should be identifying your target audience. To help you figure this part out, just answer the four questions below: What problem does your product solve? Who is your current audience? Who is your competition? How are you different from your competitors? Once you’ve successfully answered these four questions, congratulations, you are now on your way to understanding: What content you need to create? Who are you creating the content for? What content are your competitors creating? How can you set your content apart from your competitors? The answers to these questions will help you create your content core. The mixture of the content regarding what you do, and what your audience cares about. This will become your content core for all of the upcoming content pieces that you will create for your company’s content marketing strategy. Establish SMART Goals We won’t go into much details about SMART goals, instead we’ll just move on to the importance of establishing goals that specifically state: What you’re going to achieve? When you’ll achieve it? Develop Your Content Strategy It’s time to finally get on to developing your content strategy. To simplify, here are the questions that will help you create your content marketing strategy for your dental practice. What content will you create? Why will you create the content? How will your success be measured? Create A Content Evaluation Strategy Once you have a content marketing strategy in place, you also need to figure out how you’re going to evaluate and decide what is working and what is not? To help you perform regular content audits, Pam Neely has shared a comprehensive guide which doubles as a content audit template. Generate Ideas For Content The final step in your extensive smart planning phase is to generate a list of possible content ideas to help you create content that becomes an instant hit among your readers. Content Publishing Phase Getting your content planning done means you get to move on to the next step that is executing the plan that you’ve just made. Let’s see how your content planning will come to life. 1. Understanding Keywords And Keywords Research One of the most important aspects of creating content is to understand how keywords and keywords research work. Keywords help you understand what your audience wants and how you should focus your content on keywords to reach maximum number of audience. But if you have not done keywords research before, don’t fret, because here are a few tools that can be of extreme help to research keywords you can rank on based on difficulty and competition. Google Keyword Planner Moz’s Keyword Explorer Ahrefs Keywords Explorer Keyword Studio Serpstat 2. Creating A Workflow To make sure your content marketing strategy is executed flawlessly, it is recommended that you create a content calendar to plan out your dental content pieces in advance. Next, create a workflow so you and everyone on your content marketing team knows what to do and when. A simple workflow can be crucial in accomplishing success in your content marketing strategy. Content Promotion Phase Now once you have planned and successfully executed good content marketing strategy, next comes the step to promote it so it is shared now and again resulting in growing audience and potential leads. Let’s take a look at how you can promote your dental practice content pieces. 1. Identify Social Media Platforms One of the major platforms to use to share your content created for your dental practice are social media platforms. Use your social media accounts to create a following and then to share the content and bring back traffic to your website. Prioritize social media platforms on their purposes to better engage your audience with relevant type of content. Use the following infographic to help you understand the importance of social media platforms depending on their purpose. 2. Email Marketing And Search Engine Optimization As stated by Campaign Monitor, Email marketing is 40% more effective for acquiring customers than social media, and it shouldn’t be hard to accept because it delivers 4,000% ROI. Search Engine Optimization is nothing short in yielding lasting benefits after your social media and email marketing course has been run. It is so effective that a well-crafted SEO content strategy can boost up your traffic by up to 500%. 3. Outreach Last but not the least, use a traditional PR / Outreach technique to promote your content to the audience directly that might be interested in your content. The key to not sound hard core sales personnel, try this guide to PR by Neil Patel. With your quest to outreaching to your audience directly, focus on building contacts and relationship rather than your customers, because according to Heather Anne Ritchie-Carson, cofounder of <Onboardly, it’s time to put back the human in PR relationships. 4. Measurement To guarantee that any strategy is working, evaluation is important. To gauge how effective your dental content marketing strategy has worked, measurement through analytics tools. Using some of the most common analytics tools is the easiest way to measure the growth of your dental practice. Here are a few common ones to get you started: Google Analytics Piwik Heap Kissmetrics 5. Reporting Schedule Evaluating your content marketing strategy regularly is the only way to learn about its effectiveness. Therefore, setting up a reporting schedule is important. But if you are even slightly like us (forgetful, shh), you can even set up automatic measurement schedule with this guide from Google. Content Marketing Strategies For Dentists Now that we have created a fair understanding of content marketing and its important and the process, let’s dive into some of the most commonly used content marketing strategies that have proven effective for a lot of dentists and other medical professionals along with hundreds of other businesses. 1. Blog Posts Creating a great blog post is the first step in your content marketing strategy, but wouldn’t it be sad if only a fewer people were reading the awesome blog post that you wrote? Having a proven blog posting strategy like the one here can ensure your efforts and valuable knowledge is reaping benefits for both you and your readers. 2. EBooks, White Papers and Case Studies Creating and publishing in-depth researches are a great way to show your readers that you are passionate about ongoing learning in your profession. This helps the reader that has crossed the initial engagement period with your blog and is looking for more information to build their trust in your services. Sharing case studies prove that you are open to learning from your mistakes as a dentist and believe in growing forward with sharing transparent information that the reader can ponder upon. 3. Videos Remember when we talked about building relationships with your customers and providing value? Using videos are a great way to do just that. Creating an informative video or a learning guide can, not only give your existing patients a gentle reminder of things they should remember minus the embarrassment of asking again, but it is also a lucrative way to attract more new patients. 4. Infographics Much like videos, visual content gets maximum share due to their readability and the ability to pack complete information in a short space. Infographics are easily becoming a go-to content marketing strategy because of their potential to become share worthy. They only key to producing a shareable infographic is to keep it simple, readable, reliable with references and focusing on visual content. One of our favorite tips to creating an effective infographic is the one by Neil. 5. Podcasts Another great type of content to give a little oomph to your content marketing strategy for your dental practice is to invest in creating podcasts. These little podcast episodes can become the bridge between your potential patients and you. It is a great way to connect with your audience and share valuable content. 6. Guest Blogging Guest Blogging is a proven tactic to build credibility for yourself as a professional while getting a follow link to your website to increase traffic. A lot of websites and blogs are almost always ready to accept in-depth, well researched articles by guest authors because as stated by Social Marketing Writing, “62.96% of peopleperceive blogs with multiple authors to be more credible.” While planning out content marketing strategy for your dental practice, including to acquire guest blogging opportunities should be a must. 7. Media Publications Everyone knows that being featured in a media publication is kinda a big deal for any business because it means popularity and exposure. As much as this sounds like a dream, Jayson DeMers, founder of AudienceBloom has given some fool proof tips to help you plan on getting your dental practice featured in media publications. Mistakes To Avoid While Content Marketing For Dentists Creating and sharing content to market your dental practice in the hopes of attracting and acquiring new patients can become overwhelming. And with possibilities of reaching your content marketing goals come a fair share of mistakes you’ll make learning on this journey. But you don’t have to make all of the mistakes yourself, which is why we are listing down a few common content marketing mistakes as stated by Jeff Bullas that dentists can avoid in their content marketing strategies to grow their online presence and business. 1. Failure To Plan This is a no-brainer as we all know that if we fail to plan, we are planning for failure. This is the most costly mistake you can make in your content marketing strategy. It is crucial to plan clearly as to what the business aims to achieve through content marketing and exactly how it has to be executed to avoid maximum chances of failure. Our only tip is to spend sufficient time in planning to avoid failing. 2. Unclear Purpose Many a times, businesses can fall trap in figuring out their true purpose when considering content marketing. It is important that you remember the reason why you’re creating the content and only focus on providing value to the reader and build relationships, the rest will follow. 3. Unprofessionalism Understanding the need of content tone and style for your business is utmost important. If you create content that works for a specific industry, one cannot trust it to work for your industry as well. You need to remain professional while writing or creating content in language that is correct, clear and concise. The best thing is to keep your audience in mind, the people who you want to read your content. 4. Lacking The Social Signals The importance of using social media to share your content cannot be neglected. However, maintaining a balanced usage is critical. Some businesses lack the use of social media for their content marketing which means they miss out on a huge chunk of prospective audience. But, at the same time, over using social media can move you away from your content marketing results. Do not rely heavily on social media platforms to market and promote your content rather create engaging, and valuable content that is share worthy. 5. Avoiding The Organic Search Factors One of the major reasons to use content marketing for your dental practice is to enhance your search engine rankings to improve online visibility. However, if the latest SEO techniques are not incorporated within the content defeats the entire purpose of content marketing for dentists and all other professions. If you do not feel confident in your skills to optimize your content with SEO techniques, it is always better to engage a professional to help your maximize growth through content marketing and SEO. Conclusion Content marketing is undoubtedly one of the most effective ways to build brand awareness and grow your online presence in the age where if you’re not online, you’re losing business. Dentists and other medical practitioners have come to realize just how important it is to invest in content marketing for their dental practices. Thus making sure they know content marketing benefits, processes and strategies can boost their online traffic and conversion rates by ten folds. ...
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What is Cost optimization? How can AI help DTC eCommerce businesses during price optimization?
Let me ask you a question: What can you do to make your company grow? It’s a tough one. It is certainly not a cakewalk. Some people would say that using advanced marketing tactics can be the best solution. Others might recommend focusing on customer engagement. All these approaches have their significance; however, the first thing that grabs your customers’ attention is the product’s price. And there is a reason for this firm statement. According to a research report by Deloitte, the price matters the most to the consumers. But why are we talking about the customers when the question is about the company’s growth? Because it’s the customers that play the most crucial role in a business’s overall productivity. If the customers don’t buy your products, it doesn’t matter how exciting or beneficial your product is; neither growth nor revenue will generate. So, that brings us to an essential point of discussion: cost optimization. It doesn’t mean shifting the focus from customer experience or improvising your marketing skills; you must consider them too. However, since 60% of online consumers choose an online seller based on pricing, you can view it as your starting point. Now, the question is, how to optimize your costing? Artificial Intelligence is one way to maintain the balance between customer satisfaction and keeping profit margins. It ultimately helps your pricing managers to deal with product marketing, selling, and costing while keeping revenue maximization in mind. Let’s learn about cost optimization and the role of AI in optimizing the prices for DTC businesses in detail. What’s Cost Optimization? According to Gartner, “Cost optimization is a business-focused, continuous discipline to drive spending and cost reduction while maximizing business value.” In simple words, it is a process that requires a detailed and comprehensive plan of action to manage the prices of products and drive business value, keeping in mind the company’s business model. Cost optimization can help you in: Improving management performance and business efficiency Reducing business operations cost Setting competitive prices for your products and services Enhancing the brand’s market value Satisfying customers’ needs and demands Why is Cost Optimization Important for Your DTC eCommerce Business? As already discussed, price is the most influential factor that helps the customers for DTC eCommerce to decide to purchase something or not. It is followed by free shipping and discounts. However, all three of them are somewhat related to cost. Although a personalized experience and sterling customer service have been added to their areas of interest, the product’s price is still the top priority. You need to understand that your pricing strategy defines how you interact with your customers. However, it would be wrong to consider cost optimization as lowering the price of your products. Your product’s cost can also determine its perceived value. For instance, lower prices attract shoppers into your eCommerce store, but too low prices might give them an impression of poor product quality.Therefore, your cost optimization strategies must align with your business objectives, market positioning, and targeted customers’ expectations. The Role of AI in Cost Optimization Let’s say you are good with figures and have a good sense of marketing. You can set optimal prices for some of your products that neither disappoint your customers nor affect your marginal profits negatively. That seems smooth, right? Now, suppose your eCommerce business grows, and you no longer deal in just dozens of products but thousands of items belonging to different categories. In that case, you or your price managers need to possess supernatural abilities and high-tech analytical & computational powers to decide the optimal price range for each product almost every day. That would be a mind-boggling situation. This is when equipping your systems with AI and machine learning can be the perfect solution for you. With AI, you can use self-learning algorithms to scan massive amounts of data, walk through multiple costing scenarios and get the most relevant price agreeable for everyone. You can easily save time by automating all the tasks and focusing more on customer-centric areas. According to IBM, 79% of online retailers had planned to use AI for customer intelligence by 2021. How Can AI Prove to Be Effective in Cost Optimization? AI algorithm-powered business models analyze hidden relationships between products, prices, focusing, and sales to derive the best optimal solution to generate maximum profits. Here are the ways to understand how effective AI can be in cost optimization and online retail marketing: Providing Suggestions Regarding Optimal Prices There is a reason when someone says a price value is optimal, and that is it neither wards off shoppers, nor it affects the profits. Moreover, it also ensures that the price of one product does not influence the sales of other items sold by a retailer. eCommerce businesses that use AI-driven cost optimization solutions know to put ideal cost with the help of stock-keeping unit (SKU), marketing channel, point of sale, product portfolio, and obviously, customers. If the optimal pricing is adequately done at all these levels, it will ultimately lead to profitability. Choosing Products for Pricing Becomes Simple Some niche products distinguish you from others that you can sell at higher prices, such as private label items, medical products, etc. With AI, you can check and pick those items and sell them without lowering their costs. Take the example of a baby cough syrup. Customers might look for enticing offers on major products, but there are some things in which they prefer quality, assurance, and authenticity before prices. While buying a baby syrup or other baby product, they will generally consider an online store specializing in such items. In such cases, AI can help you recommend specific products and their prices suitable enough to attract them while maximizing profits. Assisting With Different Price Points One of the best things about AI and machine learning is their accurate prediction capabilities. ML algorithms can analyze consumer behavior and data to create and test different strategies and price points. As a result, online retailers can leverage this ML data and have more than one possible product price. With this, you can have several cases providing the optimal price for profit maximization. Picking the Right Price Strategy for Your Business As already mentioned above, AI and ML algorithms offer online retailers room to perform experiments with their price and promotion strategies. With AI’s forecasting capabilities, they can predict shoppers’ reactions to their pricing strategies and choose the best one that creates maximum customer engagement and profit. It will also help them be one step ahead of their competitors in cost optimization. Acquiring Insights for Personalized Costing AI-driven solutions focus not only on the records and buying patterns of the customers but also on other factors such as sales patterns, demand & supply of a product, weekends, holidays, weather, current trends, and much more. Based on these, it analyzes and picks the right products with the best-suitable prices that are popular and in-demand on social media. Furthermore, it also keeps an eye on the interests and preferences of individual shoppers to recommend them with the most personalized price offers. Wrapping Up The competition in the eCommerce space is blazing up day by day. You lose one opportunity, and you might see yourself behind your competitors. AI-driven solutions are one such opportunity, and every business owner, especially eCommerce retailers, is looking forward to grabbing it.This is high time, and you need to understand that consumers always look for the best options. When pricing is the priority, they can quickly shift towards the one with the best offers. So, why not optimize your products’ cost and become a choice, not an option for your customers? Therefore, to make this dream a reality, pick a proficient digital marketing company that knows how to bring the best use of AI for your business. ...
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Marketing And Artificial Intelligence: How The Combination Is Taking The Industry By Storm?
Marketing has always been desired when your business cares to promote trade, acquire more market share, or be recognized with its brand’s name. It is a basic act of attracting people to show interest in your product line so you can convert them into customers and achieve short-term or long-term organizational goals accordingly. Every business’s prime objective is to earn a profit, and fruitful or effective marketing plays a significant role in driving sales and generating revenues. Therefore, it is imperative to focus on a constructive marketing approach, be it traditional or conventional; the idea should be to promote the business and invite trade opportunities. Nowadays, marketing has helped businesses make strong connections with the customers and maintain a relationship that completely spins around what they aspire from your business. The approach is known for its ability to persuade people because, with rising consumerism levels, companies must strengthen their customer base and gradually expand it. Artificial Intelligence In Marketing Factors like technological advancements, the need for effective communication, and rising competition have simulated many businesses to look after their marketing and advertising strategies so they can survive in the cut-throat race and continue to keep their brand image. Technology, in specific Artificial Intelligence, has lately become a part of strategic marketing. Since technology guarantees speed and error-free computations, hard-core marketers make use of Artificial Intelligence to collect and observe piles of customer-centric data, which includes classifying the needs of a group of people, analyzing the buying trends, and collating factual information about the impact of various marketing methods used in the overall industry. This enables them to distinguish between a particular set of observations and comprehend the pros and cons of each marketing method applied to them. Once this is done, businesses get a better insight into individual wants and what marketing approach it is affected by the most. AI marketing is the talk of the town and has brought a positive impact on the existing traditional marketing approaches, making ways simpler and better. The prime reason to include AI techniques to cater to business marketing needs is that with the rising consumerism, it is hard to manage data trends, customer behavior graphs, and important stats which is essential for a business. AI tools effectively manage to collate such details and provide decisive arguments, where required, to save time and speed up the overall process. If you observe any traditional marketing approach, it involves different ways of targeting and retargeting the customers at various points of time to ensure brand loyalty. On the other hand, with the much-needed introduction of AI methodologies, your business can come up with automated yet monitored ways to reach out to the customer and complete the marketing procedure as proposed by your business. Benefits Of Artificial Intelligence In Marketing Technology and marketing, if used in a synchronized way bring fruitful results for a business, and for that to happen, enterprises have to work on how they invest their time and efforts in understanding the impact of AI on business development tools, including marketing. The following are some of the plus points that a business enjoys while incorporating Artificial Intelligence into marketing strategies: Monitors Overview Of The Process Since it is considered that customer reaction is an impact of the business activities, the disposable behavior of a customer is based on what your business offers to them, in terms of product/service, after-sales services, attracting via alluring advertising programs, the price of the product, etc. These factors are precisely taken into consideration in order to predict customer behavior and anticipate future sales. This analysis and segmentation of customer behavior and related trends allow a business to get an overall perspective of the suitable marketing approach which seems promising and ensures back results. Machined And Skillful Work Technology itself sends a reminder to be better than what it is now, in simpler terms, using AI for marketing practices allows your process to strategically understand the situation and learn from the experience to provide necessary improvisations to the existing approach. It is a continuous process that includes AI to repeatedly search for data trends and bring relatable content for the customers. As a business, it allows you to focus on other operations and initiate a self-driven marketing approach. Avoids Excessive Revenue Reduction Customer retention is a skill that every business strives to be good at and losing loyal customers to your competitor surely wouldn’t be a good thing for your business. Understanding and fulfilling the customer-needs ensure brand loyalty thus helps in preventing the need for disinterest. AI plays an important role in comprehending this data so your business can completely know what your loyal customers require. Collating this information gives the control to draw outline marketing programs and drive sales campaigns quickly. Reduced Manual Marketing and Increased Bot Support Hiring marketing experts sure can suffice the process requirements at many levels, however, with the introduction of Artificial Intelligence, you can initiate proactive advertising drives and run campaigns that are run by bots and automated chat programs. This change from manual marketing techniques to tech marketing allows your business to run perpetual campaigns that don’t require much human intervention. By allowing AI to take over customer support via chat help, you can ensure your business to revert to customer queries in less time, which is a great approach to customer satisfaction. Add A Personalized Touch To Your Approach It is observed that advertising mails and promotional offers that are sent out for the target audience often seem redundant and lack a human touch. Well, AI helps a business to build automated responses that have a personalized message, basis the customer behavior and concern. It could be emails, upcoming future campaigns, social media information, anything that attracts customer attention in a better and improved way. Personalized messages can be well programmed by accumulating customer’s anticipated behavior and buying trends so that they feel worthwhile trading with you. If your business requires assistance in maintaining marketing and AI together and fails to fulfill the task due to a lack of competence or path guidance, you can consider industry experts such as SaffronEdge, where you can amplify your business development pace and include technology in an organized and precise way. We are SaffronEdge industry insights to build personalized marketing plans that tackle the trading situations and ease up advertising and promotional practices done to escalate revenue graphs. ...
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