Snapchat: The Game Changer Of Marketing World
Sep 11, 2017
Sep 11, 2017
10 min read
10 min read
Every now and then, a new Social Media platform is introduced in the online/digital world. At present, Snapchat is the trending Social Media platform used by every user. Snapchat is creating a buzz in Social Media platform as most of the marketers are using it for their marketing strategies. Unlike Facebook and Instagram, Snapchat has diverse features and approaches to promote the business. Businesses who have already switched to Snapchat are witnessing the effective results. Besides, they are able to acquire new customers in a consistent manner.
If the business is not familiar with the utility of Snapchat, it must come across several queries. They can relate with these questions such as how to use it with an authentic approach, who are the users and most important, “how to connect with the audience”. This blog will help you in understanding all the aspects of Snapchat in order to gain maximum profit. Let’s take a look at the following facts to create an effective Snapchat marketing campaign:
Why should a business market on Snapchat?
No doubt, Snapchat is the new Social Media platform and almost everybody is getting attracted towards it. In fact, Snapchat has acquired a massive amount of users in a short period of time, especially millennials. It’s time to check out these facts about snapchat to understand its merits and mechanism:
- It’s not competitive: Since, Snapchat is the new Social Media platform, most of the businesses are not aware of Snapchat marketing. Hence, it is a better opportunity for you, if you are well-acquainted with this platform aptly.
- It’s authentic: Marketing the business on Snapchat becomes authentic due to its unique features. It gives an insight of the trends in the market to help a business in boosting its profit and growth. It offers videos and photos that convey message in simplified, effective and efficient way as compared to simple informative articles.
- Everyday brings in new audience: If a business has products which are meant for youngsters, then, Snapchat is the best Social Media platform to reach out to prospective users as millennials are actively using Snapchat.
Over the past few years, Snapchat has become a popular platform which serves the marketing goals of business owners. When it comes to attain a rapid growth of a business, increasing business visibility on Snapchat should be focused on initially.
Features available on Snapchat`
Snapchat offers various features, varied posts and settings that you can efficiently use in order to connect with audience. Using these features will be impactful for the success of your Snapchat Campaign.These include image editing options, the settings which can be customized for your profile and additional features that can help you interact and engage with your audience.
Types of content you can share:
- Images
- Videos
- Snaps
- Stories
Snapchat enables you to use edit options in order to modify all your posts and share them according to your preferences.
Snapchat: Millennials’ Choice
If you are promoting your business on any online platform, you must know that the youngsters are actively using these platforms. If a business is producing goods or services which target millennials, then, Snapchat will be an excellent platform to promote your brand. Most businesses are actively using Social Media in order to connect with the target audience for a rapid growth and popularity of their brand. Snapchat is a new and promising trend in the digital marketing world and businesses are embracing it to a great extent.
Conclusion:
People use online platforms and are dependent on them for basic utility or to accomplish the marketing objectives. Snapchat is an emerging Social Media platform which is beneficial for all business types. In case, you want to connect with the new and target audience, then, online presence has become a prerequisite which is being used by many organizations. Are you curious to use Snapchat, then, Contact us to explore more about the utility of this platform.
A Comprehensive Guide For SaaS Reporting And Analysis
Since companies rely on data, it makes sense to implement SaaS reporting. The various reports can help steer your product in the right direction based on the insights. The importance of robust reporting and effective SaaS growth strategies cannot be overstated. These reports guide your businesses through the complexities of subscription-based services, providing crucial insight for informed decisions. You only have to ensure that you start on the right foot and identify the relevant metrics to report. This blog goes beyond the basics of SaaS reporting, discusses important considerations, and reveals ways to enhance your marketing flywheel and SaaS social media marketing approaches. What is SaaS Reporting? SaaS Reporting refers to gathering, analyzing, and presenting data within a SaaS (Software-as-a-Service) platform to provide insights into business performance, customer behavior, and operational metrics. It enables companies to track key metrics like user engagement, subscription renewals, churn rates, and revenue growth. SaaS reporting tools offer real-time data visualization, customizable dashboards, and automated reporting features, helping businesses make data-driven decisions and optimize their operations. This type of reporting is particularly valuable for identifying trends, improving customer retention, and enhancing the overall user experience. The Significance of SaaS Reporting Understanding the SaaS Landscape SaaS businesses thrive in the digital landscape by delivering software via subscription models. Without physical products to track, the performance metrics for these companies can be elusive. However, effective SaaS analytics helps bridge that gap, offering insights into critical factors like churn rate, customer lifetime value (CLV), and recurring revenue. Companies can ensure long-term profitability and growth by leveraging a comprehensive reporting structure. The key to success is using SaaS data analytics to create actionable insights that inform business decisions. With a powerful SaaS marketing strategy, these insights help companies better understand customer behavior, optimize offerings, and improve customer retention. Engaging with a SaaS marketing agency or a SaaS marketing consultant can further enhance the effectiveness of these strategies, aligning your marketing efforts with data-backed decision-making. Measuring Success Central to SaaS reporting is the metric of profit growth rate, with saas ltv calculation serving as a crucial determinant of a company's success. Despite the absence of palpable products, comprehensive saas analytics ensures that pivotal criteria like churn rate and client continuance value aren't overlooked. As per SaaS Capital, a growth rate of 80% for a $3 million business is considered below average, whereas a SEO SaaS growth rate of 80% for a $20 million business is twice as much as the average. Benchmarking for Growth SaaS businesses are known for their rapid-fire growth, but assessing this growth effectively requires benchmarking against also-sized counterparts. Maps depicting average and median growth rates give an environment, helping best SEO SaaS companies understand their standing in the competitive geography. This is where SaaS data analytics is crucial in providing accurate and actionable insights. Key Metrics in SaaS Reporting SaaS Financial Metrics MRR (Monthly Recurring profit) MRR signifies the anticipated yearly profit generated by a SaaS company. Calculated by multiplying the total number of guests by the normally billed quantum, MRR offers a mark for overall success. Types of MRR New MRR( Monthly Recurring profit): This represents profit generated from recently acquired guests within a specific period. It indicates the growth attributed to fresh subscriptions and influences the SaaS conversion rate. Expansion MRR: This signifies fresh profit from being guests due to upsells, cross-sells, or upgrades, reflecting the capability to subsidize openings within the current client base. A well-crafted SaaS sales strategy includes initiatives to maximize Expansion MRR. Churn MRR (Monthly Recurring profit): This represents the profit lost within a specific period due to client cancellations or downgrades, highlighting the impact of client waste on overall profit. Net New MRR: Calculated by abating Churn MRR from the sum of New MRR and Expansion MRR, it provides a net growth metric, factoring in client accession and expansion while counting for churn. ARR (Annual Recurring profit) ARR forecasts the periodic profit a SaaS company expects to induce. By multiplying yearly subscribers by the Average profit Per stoner( ARPU), ARR provides a longer-term perspective. Cohort Analysis Cohort analysis helps pinpoint client lifecycle issues by grouping guests based on specific criteria. It offers practicable perceptivity in reducing churn rates and optimizing the stoner experience. SaaS Deals Metrics Client churn Rate and Revenue Churn Rate These criteria measure client and profit loss over a specific period, which is pivotal for gauging the health of a SaaS business and shaping an effective SaaS go-to-market strategy. ARPU (Average Revenue Per stoner) ARPU reveals how much profit a company can anticipate per client or stoner, helping deal brigades understand client spending habits. SaaS Conversion Rates Base Conversion Rate: A abecedarian metric immolation perceptivity into website optimization. Lead to Trade Conversion: This rate measures the effectiveness of converting leads into paying guests, showcasing the impact of SaaS affiliate marketing on lead conversion. Lead Source: Tracks the origin of leads to identify the most effective channels. Typical SaaS client Lifecycle Client Lifetime Value (CLV) CLV estimates the total profit a client is anticipated to induce throughout their relationship with a SaaS company, abetting in marketing budget allocation. SaaS client Acquisition Cost (CAC) The cost of acquiring new guests is pivotal for assessing the effectiveness of marketing and deals. Gross periphery A computation of business profit minus the cost of operations, furnishing perceptivity into profitability. CAC to LTV Ratio Compares the continuance value of guests to the cost of acquiring them, offering effectiveness marks for client accession. client Engagement Score( CES) Though not a fiscal standard, CES measures client engagement, impacting long-term fiscal criteria by indicating client fidelity and satisfaction. Enforcing SaaS Reporting Strategies Define Reporting compass Determine whether to track criteria across the entire business or specific departments. Specify the compass, covering subscription-related, app operation, and marketing criteria of your popular saas products. Decide on the temporal focus, balancing recent data with literal perspectives. Select Metrics Choose crucial criteria aligned with the reporting compass. Essential criteria include Monthly Recurring profit( MRR), client continuity value ( LTV), Churn Rate, and client Acquisition Cost( CAC). Identify Data Sources Dissect operations or datasets, casing needful data for reporting. ensure comprehensive monitoring of all applicable data points, encompassing literal data for contextual perceptivity. Aggregate and dissect Select tools for aggregating and assaying data. Explore options similar to Coupler.io, Looker Studio, ProfitWell, HubSpot Marketing Analytics, and Zoho Analytics. These tools can significantly improve your SaaS marketing analytics capabilities. Emplace Reporting result Opt for a reporting result that acclimates to your requirements and makes it accessible. Consider interactive dashboards for real-time monitoring or integration with tools like Slack for immediate updates. This strategic approach ensures a well-rounded and effective SaaS analytics framework. Top Tools for SaaS Reporting Coupler.io Features: Data analytics and robotization platform with 60 operation integrations. Benefits: Automates data import, supports real-time dashboards, and offers data analytics services. Looker Studio Features: a Data visualization platform with native integrations and over 700 third-party connectors. Benefits: This enables the erecting of interactive dashboards, the calculation of criteria, and teammates' participation in perceptivity. ProfitWell Features: Focuses on tracking SaaS earnings with integrations to major payment processors. Benefits: Observers MRR, ARR, churn, upgrades, and reactivations, furnishing perceptivity into profit trends. HubSpot Marketing Analytics Features: acclimatized for HubSpot druggies, offering analytics for marketing sweats and website shadowing. Benefits: Provides dashboards, reports, and advanced analytics to estimate marketing performance. Zoho Analytics Features: Connects to over 250 data sources, supports data visualization, and includes an AI-powered adjunct. Benefits: Fetches and transforms data into customizable dashboards, offering a stoner-friendly interface. Conclusion In summary, SaaS reporting is a crucial navigational tool for businesses navigating the evolving landscape of subscription-based services. By optimizing technical SEO, focusing on key factors, and adopting effective website designs, SaaS companies can evaluate their current position and make informed decisions that lead to long-term growth and success. Embrace the power of reporting to guide your journey and leverage it to thrive in the competitive SaaS environment. Furthermore, working with a SaaS SEO Agency will tremendously improve your reporting and business outcomes. When operating in the SaaS environment, knowing that B2B SaaS marketing and business SaaS data analysis are crucial to success is crucial. ...
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The Digital Iceberg Model
Each and every business out there needs to have a strong digital presence. We are currently living in an era where the internet and technological evolutions are ruling the world. Instead of bringing customers to where you are, the current era demands the firm to reach out to the masses. And with 4.57 billion people using the internet, you just can’t ignore the digital platform which has become a world in itself. But if we make a paradigm shift from the offline world to the online platform, we realize the competition is neck-wrenching. With 1.7 billion websites on the internet, making your presence stand out of the crowd and appear on the top of the search results while providing an enhanced online experience can prove to be tough for you. This is why, instead of bearing the burden of making your firm shine on the digital platform, especially if you already have too much on your plate, partnering with Saffron Edge for making the most of the current digital marketing trends and optimizing your presence will be the best approach. Our company thrives on the latest tools and technologies along with the best digital professionals for strengthening the presence of our clients on the digital platform. Along with making sure that we are complying with what’s trending in the digital world and offering tailor-made solutions to every client, we also let our experts spend time coming up with new ways of improving the already established digital presence. And one such model that we have come up with for making the digital life of our clients easier is the digital iceberg model. The digital iceberg model Our digital iceberg model is one of the most successful models that proved to be successful for all of our clients who come to us in search of a transformation of their digital presence. In order to improve your digital presence, we function on three crucial parts that most digital marketers overlook- Digital loyalty Digital Popularity Digital confidence So, let’s take a look at these three important aspects of digital transformation to help you better understand the type of approach we use. Digital Loyalty It doesn’t matter how many new customers you drive in or how well you are working on converting prospects into customers, if you don’t have a sustainable digital marketing strategy that helps you in increasing the base of loyal customers, you will never be able to get palpable results from your efforts. Because of the increasing need for loyal customers, most of the firms have started using loyalty marketing programs that focus on making customers succumb to repeat purchases with you. We at Saffron Edge, use the digital loyalty approach in a precise manner so that customers will not only return back to your firm but they will also become your brand advocates. Source-Unsplash Marketing tactics used by Saffron Edge for improving digital loyalty Understanding the customers Instead of just throwing trending loyalty marketing techniques at our clients, we try to understand their customers first. From going through the pain points of the customers to understanding their challenges, we analyze the customer base of our clients in a detailed manner. Marketing the core value We also work on building an appropriate identity of the brand of our clients that aligns with the customer’s needs in the best possible way. In addition to this, we align the core values of our clients with larger causes to make the marketing efforts look more appealing. Craft a bold statement At Saffron Edge, we know the potential a brand holds in order to build an authentic image and we focus on cultivating this image. By keeping tabs on the customer value of our clients, we are always ready to craft bold statements and improve customer loyalty. Why digital loyalty? Customer acquisition is costly You will be surprised to know that the cost of customer acquisition is five times that of retaining a customer. You need to make the customer familiar with your brand, you need to let them know what your company actually does and push your wide array of products and services to them. Well, you can get rid of all the expense involved in acquiring a new customer, if you try to convince an existing customer as the customer will already be aware of each and every aspect of your company. It’s easy to sell products to existing customers Pushing a product to an existing customer is not only cheaper but it is easier as well. All your existing customers must have complete knowledge about your brand and its products and this is why when you push your products or services to an existing customer, it will require less effort and time. The probability of firms selling to an existing customer is 60 to 70% while the probability in the case of new customers is only 5 to 20%. Digital Popularity Making a brand successful on the online platform comes down to brand building. There might be many aspects of building a brand but at Saffron Edge, we make sure to use only tried and tested methods for increasing the digital popularity of our clients. Source-Unsplash Marketing trends used by Saffron edge for streamlining digital popularity Social media At Saffron Edge, we make sure that all our clients are regularly interacting with all their customers so that digital loyalty can be improved. In order to do so, we make sure that content is being published from our client’s social media accounts on a regular basis because this is one of the best ways to keep loyal customers engaged. We take advantage of some of the most popular social media platforms like Facebook, Twitter, Instagram, and much more so that we can reach all the loyal customers of our clients present on different social media platforms. Newsletter By taking advantage of social media and data analysis approach, we build an impeccable email list for all our clients so that they can send regular newsletters to all their loyal customers and this is one of the most genuine ways to make your loyal customers feel engaged. We use various techniques to make loyal customers of your firm feel valued through newsletters. For example, we ask our clients to come up with discounts, offers, and coupons, especially for loyal customers and we send these offers through newsletters. Run contests Running contents on the digital platform might sound like a very common approach but at Saffron Edge, we know the value of running contests when the main goal is growing the popularity of the brand. We use tried and tested methods for running online contests for our clients that can attract hundreds or even thousands of eyeballs on the website of our clients. Digital confidence If you have a strong brand then it will not only convey competitiveness but it will also convey confidence and we call it digital confidence. You must have noticed that the purchasing pattern of the customer keeps on evolving and with the prices of products crumbling down, the strain on every business owner has increased by many folds. By providing great value to your customers and by keeping the prices low, your chances of success will surely increase. But in addition to this, we also work on building a brand for all our clients. This is why at Saffron Edge, we convey digital confidence by building a strong brand for all our clients by using the following approaches- Seamless user experience Positive marketing is all about making the customers feel better and you will never be able to do so with an irritating and time taking website UI. This is why we always focus on building a website for our clients that gives them a seamless user experience. We make our websites compatible with all the platforms and devices while equipping the website with all the tools like a search bar, social media links, and much more. Spreading positivity The power of happiness can’t be overlooked while focusing on brand value. We use a wide array of marketing techniques to make the customers of our clients feel inspired or make them happy. This makes the brand of our client inspirational to the customers and in turn, makes the customers buy products or services from that particular brand so that they can share the same feeling. Ensuring protection and trust We know that everyone is concerned about the safety of their data on the online platform and we use this concern as an opportunity for building brands. We consider each and every aspect of digital security while offering digital services to our clients and thus our clients are able to build a trustworthy relationship with their customers. We use a detailed approach while offering digital services to our clients and this is why we have been successful with our approach. Our digital iceberg model unravels all the things that go into the digital transformation of any business. By working on digital loyalty, digital popularity, and digital confidence, we are able to make our customers become the star of the digital platform in the most economical way possible. ...
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Why Is ROAS Such a Crucial Metric in Online Advertising and How to Improve It?
Making money is essential to the survival and expansion of any firm. Well, that’s probably not something you do not know. Even though it may seem like we're making you go over the basics again, many companies still overlook this. Making a profit is easier said than done; one also needs to know how to scale success. One of the numerous indicators you should be monitoring to ensure a healthy profit margin is the return on ad spend (ROAS) because it provides insight into what is and isn't working for your business. But wait, what is this ROAS? What does it actually do? And how can improving ROAS enhance the advertising results for your business? To know the answers to all these questions, let’s look at this informational piece about ROAS and the methods to improve it. What is ROAS? Return on ad spend (ROAS) is a common and useful metric used by digital marketers to determine the profitability of advertising campaigns. If you compare the amount of money you get from ads to what you put into them, you may get a good idea of how effective your ads are. To reach their goals, growth marketers prioritize metrics like return on ad spend (ROAS) that measure performance and help form data-driven decisions. Why Does Calculating Return On Ad Spend (ROAS) Matter? You might examine various data points to fine-tune your advertising strategy. You might be questioning why you should even care about ROAS, even though it is a simple statistic to compute. In fact, you could ask yourself, “Isn't it sufficient to measure the success of a campaign based on the number of conversions or clicks?” Well, there is a reason for all your whys and hows. You might make less-than-optimal decisions if you don't monitor ROAS in addition to those other indicators. Unless you're trying to increase brand recognition, you should consider increased sales to be the ultimate goal of your advertising efforts. You can't monitor your campaigns' success in revenue generation until you calculate and track ROAS. And without that, maximizing their potential is impossible. Source: Pexels When ROAS is monitored during an advertising campaign, you might observe its growth over time. Finding out if the campaign is making money as planned can help you decide whether to continue spending money on it or try something else. In addition, the higher-ups in your firm will expect hard numbers on the ROI of your marketing campaigns. Keeping tabs on ROAS will provide a reliable response to that inquiry. It is possible to boost future online advertising efforts by focusing on ad groups and keywords that are already performing effectively, which is what this metric helps you do. Furthermore, by monitoring ROAS, you can adjust your advertising budget to maximize returns. What's a Good ROAS? This is like asking, "How long is a piece of string?" because there is no concrete answer. Factors outside your control, such as the presence or absence of a global pandemic, can have just as much of an impact as those within your control, such as your business's goals and profits. However, as a matter of thumb, we advise shooting for an ROI of at least 3:1, as anything lower than this will almost definitely result in a loss. Well, it’s true, especially if revenue, rather than pure profit, is used as the basis for calculating ROAS. You need to be prepared for the possibility of a sudden decline in your metrics and give yourself some additional scope in your profit forecast to account for the unexpected. However, it would help if you strived for more than this basic requirement, and the truth is that the ideal way to approach your ROAS is to benchmark it at the beginning of any particular campaign and then do what you can to enhance it over time. Don't waste time comparing your company's progress to others; instead, aim to outperform your previous self. So, the actual response to the issue of what constitutes a good ROAS is that it is all subjective. A positive return on investment (ROI) is indicated when the ROI has increased from the beginning of the campaign. How to Improve Return on Ad Spend (ROAS) You undoubtedly want to know how to enhance your ROAS now that you realize its significance. Well, if you need some assistance, you may consider these three suggestions: 1. Target High-Intent Audiences To get started with retargeting, broad and interest-based targeting is fine. You may fine-tune your efforts as you collect more data with your Meta Pixel. Website visitors with high intent to purchase are more likely to become paying customers because they actively seek out your brand. Ad account data collection can also help with Acquisition Re-Engagement efforts. This campaign focuses on people who have expressed an interest in your product but haven't made an effort to visit your website. An example of this type of audience is people who watched 75% or 95% of your video advertisement. In addition, you can narrow your Acquisition Prospecting campaigns' focus by targeting just those who have shown an interest in your competitors. That's because they're not only in the market for what you're selling, but they've demonstrated an interest in doing so in the past. 2. Test Various Lookalike Audiences Acquisition prospecting efforts have several tools at their disposal, but lookalike audiences are among the most potent. These are the people Facebook thinks you'll want to reach based on the source audience, geography, and the number of people you tell it to target. Facebook's lookalike audience feature finds users similar to your existing audience. It allows you to reach out to people who are likely to be interested in your brand since they share similar traits with your current clients. Therefore, there is hope for their conversion. Lookalike audience testing is essential for identifying the top-performing segments, which might be scaled to a larger audience. 3. Freshen Up Your Creatives In the end, not even the most experienced marketers and creative directors can predict with surety which piece of work will perform best. That’s why it's important to constantly try different forms of creativity until you hit on a winner. It means you have to experiment with various forms of advertising. Ads that use video or polls are highly recommended for increasing campaign engagement. Avoiding "falling in love" with one's own creations is crucial. The people who are supposed to like what you like might not necessarily share your tastes. Moreover, just because you put a lot of time and effort into a creative piece does not give you the right to demand ROI from it. Finding an effective amount of creativity that generates a high return on ad spending allows you to expand its reach. On the other hand, even the most talented artists become tired of commercials after a while. That's why it's important to update your adverts frequently. Conclusion Tracking your Return on Ad Spend (ROAS) can do wonders for your digital advertising results. This crucial parameter may be easily calculated and provides a strong indicator of the effectiveness of digital advertising. By keeping an eye on it, you can expand successful efforts while cutting back on resources that lead to losses. In addition, it will assist you in honing your marketing approach, too. Based on your specific business model and a thorough examination of your sales funnel, you can determine an appropriate ROAS. Optimizing your targeting strategy with high-intent audiences and trying different lookalikes will help you increase your return on ad spend. Advertisers will be less receptive to your messages if you don't periodically update your creatives. Finally, if you're investing in online advertising, you should track your return on ad spend (ROAS), strive to increase it, and get insight from your efforts. If you still want to learn more about ROAS and how improving it can benefit your business, our PPC experts can help you with all your doubts and enhance your ad campaigns to generate more profits. Get in touch now to know more about this crucial marketing metric! ...
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