akshprat

10/09/2021

Wishing you a Happy Ganesh Chaturthi. May Lord Ganesh bless you and fulfill all your wishes.

29/07/2021

People love to Buy, but they hate being Sold to..!!!

26/07/2021

“Whether you think you can or think you can’t, you’re right.”

– Henry Ford

22/07/2021

The power of Niching?

This live example I write about shows the power of niche & how data analytics is not only limited to large businesses & online ventures.

I have been observing a couple who used to sell random glassware on streets right around the corner of my building square. At the very start they started by selling some random glass items with a couple of fishbowls.
After a week, they had a little more of fishbowls & less of other items. Later, over a month down they were now selling only fishbowls. Usually they started at around 3 pm & worked till dark.
After somedays, I now saw them selling only fishbowls, only this time they had put different colored liquids in each of them & were now selling beyond dark hours till 9.30 pm.

How? They had now bought some clever small LED flash lights & placed each of them in the fishbowl to create a sort of glow in the dark effect.

But the last surprise came in when after about a couple of weeks, they were now selling only fishbowls & with actual live fish swimming in them.

Then I thought this was time I had to go & chat with them one to one. I went down & started talking with the guy & asked him how did he navigate through this journey. He told me that he actually had no plans of selling only fishbowls. Rather he wasn’t even aware that those were fishbowls in the first place.

He had just purchased some goods in wholesale to sell off on streets & make a living for his family. However, over a week he realized that those round balls had better sale in that area. So he started stocking fishbowls with various shapes & sizes now. Then he said he observed that most of customers would show up in late evenings when it was dark & he didn’t want to lose out on them. Hence he bought some cheap flashlights, but his wife got that idea of putting that coloured water in them & using the lights to create a lighting effect.

He said that this idea actually increased his footfall.

I asked him but how did you get that idea of selling the bowls with live fish in them. He said, he got it from one of their customers itself. A kid was asking his father to buy him a bowl, but the father said not right now, first let us buy a fish & then we will buy a bowl.” I saw this as an opportunity & enquired with a couple of my friends of where I can buy affordable good looking fish.

When I actually bought the fish, I saw a lot of kids pushing their parents to buy them that fish in the fishbowl. He said this actually increased my margins as well as my customer count too.

However, it doesn’t stop here. The Next step he took is what makes him stand out to the level of an actual intelligent businessman..!!

When selling the fishbowl with fish, he would slowly pull out a packet of fish food. Sir, please don’t keep the fish hungry you can feed him with this fish food.

I see the man going places in the next year. Not surprised if he starts owning a fish shop in a complex around the same corner in another year or so.

21/07/2021

Is Digital Marketing really that significant ?

To get a perspective, everyday in 2021 there are roughly 380 new websites being made per minute. That is a massive 547200 new websites are created globally.*

This means that everyday the search engines, social media network algorithms and your prospects have so much new data to work on.

Implementing correct digital marketing strategies for your business will ensure that you stand out from the crowd and have maximum chances of reaching your target audience.

Source: siteefy. com/how-many-websites-are-there

19/07/2021

Monday Motivation

“Think of many things; do one.”

-Portuguese proverb

16/07/2021

Imagine Apple as a Brand we all know. Any product that you ever see from Apple is instantly recognizable.
The reason is they have clear established brand guidelines that help them achieve this.

Similarly, McDonalds has the exact same customer experience all over the world.

This is the power of investing in branding.

15/07/2021

Even when social media marketing (SMM) has taken up a lot of space in digital marketing, the mighty search engines still have better chances of giving more ROI than SMM.

The main reason is the users intent. You get a chance of showing up in front of the user who has already made up his mind to buy or find or study something very close to or exactly same to what you are selling.

14/07/2021

The number of social media users in India was equivalent to 32.3% of the total population in January 2021. And it is only ever increasing, the number of social media users in India increased by 78 million (+21%) between 2020 and 2021.

Leveraging this medium is a key step in marketing your business to your prospective clients.

12/07/2021

09/07/2021

Sometime back there was a news on almost every news handle and on a lots of Whatsapp groups about how in the next 4-5 years AI will eat away into a million jobs in the IT industry.

Everyone was stressed about how dangerous this is and how will we sustain if this happens on a larger scale.

Well, technology eating away into human jobs has been a part of the Human history. Remember when a factory had literally 100s (if not 1000s) of draftsmen for mechanical drawings before someone invented Auto-CAD.

So many workers were employed on factory floors for various activities before someone invented the conveyors and automated robots to get the job done.

Similarly, adverting for any business was earlier possible only with a big fat budget, a neatly done campaign by professional agencies and aired only on the TV or radio or newspapers until someone came up with advertising on digital platforms.

Adapting is the only way to sustain in the ever changing world driven by improving technology & this isn’t new for humans.

You cannot keep on doing what you are doing today and expect that you would retire with the same skill set. A successful person will have to keep on upgrading himself.

When a certain job is replaced by technology, a couple of more job avenues open up.

image courtesy: archinect