An Emerging startup – IntentX Media is a strategic branding company which works with selected brands and helps them scale online while establishing a Trustful Reputation. In this interview, we discuss the fall of retail Industries, how can business owners adapt and thrive post COVID-19 and much more with Rishi Raj, Founder IntentX Media.
How do you think this Pandemic will change Consumer Behaviour?
I believe it will change tremendously after the Pandemic.
Recently Retailers Association of India (RAI) hosted a Webinar discussing the impact of COVID- 19 on Retail Businesses. One of my key takeaways -“Outdoor Advertising will take a hit and Online Advertising will boom.”
The Experience of Walking in a Mall after the Pandemic won’t be the same as before. It is delusional to say after the Pandemic, People will feel the same in crowded areas.
Being slightly Paranoid, Consumers will rather shop Online.
Accordingly, business owners have to adapt and transition smoothly to eCommerce.
So How can A Business Owner start this transition during these challenging times?
First avoid the following mistakes. I have learnt it the hard way. You don’t have to.
1)Before you start online, as a business owner note that Online Marketing is not easy. Building a trustworthy brand takes a lot of Hard Work and Consistency. This is not TikTok, where Fame is quick and temporary. Your Goal should be to build legacy,reputation and not fame. People judge by the amount of followers a brand has but it doesn’t necessarily mean More Followers = More Sales.
2)Online, you will see a lot of creators preaching with catchy titles”Build your Online business in 1 week” Don’t buy into that. Short Success is for losers. Winners focus on Long Term Success and Legacy.Our Vision Should be a Plan for Long Term Success.
How can they plan for long term success and achieve it Online ?
Start with a pen and paper. First we need to set foundations for your brand. Some Questions you can ask to get clarity are the following:
- Why Do People Buy My Product ?
- What makes my product unique from competitors ?
- Why did I start selling this product ?.
- What do I want people to think about my product ?
- How can my customers benefit the most from my product?
The answers to these questions will give you a clear idea of who you are and who you want to be. These answers create your identity and set yourself for Long Term Success.
How do we know what to post online and where to advertise it ?
Your Content should either help your audience or give deeper insights about your products.Period. It’s not Complicated.
1.Identify problems your customers want to solve in your niche and accordingly offer solutions through content.
2.Describe your product and focus on the details.
This gives you authority and credibility in your market.
Your ad content should be quick, simple and to the point highlighting key features about your product with some support of social proof for example Customer Reviews.
The main placements you should advertise on are Instagram Stories and Facebook Feed. If you don’t know anything about Online Marketing ,go to https://www.facebook.com/business/learn
It is a free course by facebook giving basics on online Advertising. We have a lot of free time during the Lockdown, better use it to learn new things.
Additionally, note that Having a marketing plan without a sales process is a waste of time. We should build a Sales Process that is easy and smooth for the Customer and combine it with our Ads.
What is a Sales Process Exactly ?
Sales Process is the means by which Someone turns into your Customer. For Retail Business, the common Sales Process is Ecommerce Website. To build it is actually very simple, with only Rs 3000/month you can have a premium website where people can check out and order your products.
I personally recommend www.shopify.in for that. There are a lot of tutorials on Youtube where you can learn to execute this. Make your website, Simple and Minimalistic. Don’t focus on being fancy.
I personally admire Steve Jobs’ Design Philosophy. Make it Simple but Sophisticated. Your Website should display more of your products instead of fancy designs. To Conclude, The Key to building a Successful Sales Process is to be Customer Experience Centric.
What are your final thoughts ? and a quick message to business owners
To my fellow Business owners, be positive. Every Crisis creates new beginnings. Your Optimism and Passion is what made you an Entrepreneur, do not forget that.
Lastly to create a successful Transition online, Know Who you are + Create Helpful Content and Compelling Ads + Build a Strong Sales Process
All the best. It has been my honor to share my Perspective. Thank you. ~Rishi Raj