It is a fact that marketing is the backbone for a strong and prominent business. This helps businesses evolve and become better by introducing new and effective strategies.
Marketing also tends to work on the most delicate projects and bring the highest revenues from them. Marketing is the best way to give a product the identity it needs to be known in the market.
Top 7 Marketing Strategies You Can’t Ignore in 2021
From spreading awareness to influencing a customer’s purchase decision, it has the power to do it all. Marketing strategies returns work with a 5:1 ratio when analyzed with the cost spent on them. However, with the invention of technology, businesses have inclined more towards digital marketing by investing around 75% of their budget.
The demand for digital marketing has touched the sky in recent years.
Marketing has become essential, especially after the global pandemic — and almost every individual relies on electronic means to make purchases.
Hence, this leaves a business with a plethora of opportunities. All they have to do is hit the right strings by designing suitable tactics followed by appropriate strategies.
As a strong business, you will have to seek perfection in everything you do, and marketing strategies have to be seamless.
Nonetheless, if you are confused about where to start and what to do, then get started on this article to know about the top seven marketing strategies to be applied in 2021.
1. Content Marketing
Content marketing leads the list by the enormous effects it brings on the revenue generation of a business. It involves everything from images, to videos, to engaging texts. The global revenues for content marketing, according to Statista, is 42.15 billion U.S.D in 2019. It is widely used by businesses to increase customer loyalty to the brand.
Moreover, according to CMI, 86% of B2C marketers believe content marketing is the key most effective strategy to drive profitable outcomes. It has a major impact on business because it can utilize the information given to a brand correctly and align it with the business goals.
Content also plays a vital role in increasing the visibility of a business by having an appearance on different platforms such as Wikipedia.
(Pro tip: if you buy a Wikipedia page, it will enhance the productivity of your business by giving it an edge over competitors in the market). What’s more interesting is that people actually opt for Wikipedia page writing services to generate relevant and unique content for their pages.
2. Social Media Marketing
If you want to gain maximum audience attention, then social media is your ultimate answer for it.
Combining all the stats of social media users from every social site, you will be amazed to know that the revenues from SMM are supposed to reach USD 48 billion in 2021. This huge number is possible because of the likeability of content present on social media that people witness every day.
Social media is the cheapest and most effective form of marketing that shows results in real-time.
Moreover, 83% of B2B marketers around the globe at least have a prominent account on either Facebook, YouTube, LinkedIn, or Twitter.
Social media platforms are the game changers for businesses, no matter in what situation a company is stuck in. The best part about social media marketing is that it works as the finest lead-generating tool without the customers having an idea of them being persuaded by the business.
3. Conversational Marketing
How many times have you been impressed by a business for getting instant replies to your queries? You did appreciate the efficiency of the business, didn’t you? Hence, as a business, you have to be that efficient too by adopting conversational marketing strategies.
It is when a business simply interacts with the audience, either through customer support or direct chat responses. Conversational strategy is completely customer-oriented and makes a user (customer or consumer) believe that you are available for them to repay their loyalty.
Today, around 90% of the customers want their favorite brands to have a chat option for convenient communication. This does not only satisfy the customers but also allows a business to save a good amount of time on sales strategies.
The reason is that the conversations between the business and users happen rapidly, and customers can easily make their purchase decision right away.
4. Search Engine Optimization (SEO)
Talking about effective marketing strategies and not mentioning Search Engine Optimization would be a huge mistake.
SEO is an organic way for businesses to reach the top of the search engine (Google, Yahoo, or Bing) upon user search. SEO is used to increase awareness of a brand by generating more traffic to its website.
As much as it seems easy to do, SEO needs time and smartly planned tactics.
If one thing goes wrong and the website fails to meet the standards of the search engine, it will instantly be taken down from the web. The good thing about SEO is that it does not stop with time. Its requirements keep changing as the user demands change and technology proceeds.
For instance, Google updates its policies every year with slight policy changes quarterly.
SEO gives you wide opportunities to be visible to your audience purely based on authenticity and uniqueness. Moreover, it is also a cost-effective way to invest less and generate more in the form of profitable revenues.
5. Brand Story
A great way to connect with your audience is to capture their attention by creating an emotional bond with them. Nonetheless, the best way to do this is to tell your brand’s story.
No matter how busy your customers are, they will always have time to dig into information about their favorite brands. The brand story allows you to talk about yourself, your existence, and, most importantly, your love for your customers.
The more a business puts in efforts to connect with its audience, the more value it creates for itself in their hearts.
Getting a 4200% Return on Investment is possible when you invest in email marketing. Yes, when you spend $1 in email marketing, you get back an ROI of $42.
This is one of the oldest yet most powerful marketing strategies that sophisticatedly presents a brand to the customers. Nonetheless, it also works smoothly when it comes to lead generation in real-time.
Email marketing is used for targeting specific niches to cater to their needs directly. Other leading strategies such as PPC can be carried forward through emails.
7. Direct Selling
There is nothing better than interacting with the audience directly for selling purposes. This strategy is one of the pioneering concepts of marketing where a business would send its representatives to make one-on-one sales by informing the customers about the benefits of the offered products.
No matter how much the experts debate on the effectiveness of direct selling, this strategy still generates a revenue of 63 billion USD for the business world.
Image Credit: sam lion; pexels; thank you!
Ali Hasnain
Digital Marketer/SEO Consultant
Ali Hasnain is a trend researcher by passion, a senior digital marketing expert and SEO Consultant. He is an expert with over 5 years of experience in this field, As an all niches knowledge, He eagerly looks for the ins and outs of the modern niches growths.
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Radek Zielinski
Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
Deanna Ritchie
Managing Editor at ReadWrite
Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!
Deanna Ritchie
Managing Editor at ReadWrite
Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.
