Why Organic Growth May Be They Key To Scaling Your Business

What is Organic Growth?

Organic growth strategies focus on changing how your company makes sales, i.e., changes to your operations that result in a natural (organic) increase in revenue. This can be brought about through attracting new customers, retaining more of your existing customer base, or increasing overall sales.

Organic growth relies wholly on your business’s own internal resources: your business utilizes its own in-house processes as a means for increasing sales. This type of growth uses the resources already present within the business without spending or borrowing extra capital to scale the company. This can be achieved through a variety of methods. For example: improving services, expanding product lines, or opening the company up to new markets.

Successful organic growth strategies increase cash flow for the business and streamline production for faster, more efficient output. Organic growth is essential for building a strong foundation for your company.

Organic Growth vs Paid Marketing

Online retail is not so different from having a physical storefront when it comes to advertising. Conventional strategies for digital marketing include search engine ranking, pay-per-click ads or social media marketing campaigns. However, organic growth solidifies the status of a business in its market by laying down a foundation of solid brand values. Organic growth strategies should be your priority to show your customer base you’re here to stay.

Quick sales vs Repeating Customers

While a paid ad can give you a more immediate result by persuading customers to purchase your product or sign up for your service, organic strategies encourage potential customers to spend more time on your website and social media channels. While they may not immediately click the “buy now” button, they’ll develop a more educated point of view about your brand and what your company can do for them in the long-term. Educated customers are likelier to become repeat customers. This is just one example of how organic growth can provide a greater return on investment than traditional advertisements.

Ad-boost vs organic metrics

Boosting search-engine rank organically is another strategy that has advantages over paid marketing. Ranking high on sites like Google is essential to edging out your competitors. Potential customers are much more likely to click on the first results a search engine returns. Paying to boost your ad rank will give you quicker results, as it is a direct transaction. However, paid advertising can only take you so far. Google ad ranking specifically tells its users that bids are only one factor in determining where an ad is positioned in its search results. Implementing organic growth strategies, such as search engine optimization (SEO) will help you to meet the criteria that boost your page beyond what you can achieve through bids, ensuring that you become a potential customer’s top choice instead of fading into the sea of search engine results.

Benefits of Organic Growth

  • Builds a solid foundation: Organic growth builds a strong foundation based on loyal customers and a well-established brand identity. Focusing on the core elements of the business allows companies to create a stable platform for future growth and expansion.
  • Enhances credibility and trust: Customers often perceive organically grown businesses as more credible and trustworthy. This is because these companies have taken the time to build a reputation for quality and excellence, which creates a sense of reliability for potential customers.
  • Improves customer retention: Organic growth strategies prioritize long-term customer relationships rather than short-term sales. This customer-centric approach encourages repeat purchases and brand loyalty, which ultimately leads to a more sustainable business model.
  • Increases profitability: By focusing on organic growth, e-commerce businesses can optimize their operations, reduce costs, and increase profit margins. Over time, these improvements translate into a more profitable and scalable business model.
  • Encourages innovation and adaptability: Organic growth strategies encourage e-commerce businesses to continually adapt and innovate in response to changing market conditions. This mindset promotes resilience and flexibility, which are essential for long-term success in the dynamic e-commerce landscape.

Strategies for Promoting Organic Growth in E-Commerce

  • Optimize website design and user experience: A well-designed, user-friendly website is crucial for attracting and retaining customers in the e-commerce space. Ensure that your website is easy to navigate, visually appealing, and mobile-responsive to create a seamless shopping experience for your customers.
  • Focus on customer service excellence: Outstanding customer service is a critical component of organic growth in e-commerce. By providing exceptional support and addressing customer concerns promptly, you can foster trust, build long-term relationships, and encourage repeat purchases.
  • Develop a strong content marketing strategy: Content marketing is a powerful tool for driving organic growth in e-commerce. By creating valuable, relevant, and engaging content, you can attract potential customers, establish your brand as an authority in your niche, and boost customer retention.
  • Utilize search engine optimization (SEO): Optimizing your e-commerce website for search engines is essential for increasing visibility and driving organic traffic. Implement SEO best practices, including keyword research, on-page optimization, and link building, to improve your site’s ranking on search engine results pages (SERPs).
  • Leverage social media marketing: Social media platforms offer a cost-effective way to engage with your target audience, build brand awareness, and drive organic growth. Develop a robust social media strategy that aligns with your brand identity and focuses on creating meaningful connections with your customers.
  • Encourage customer reviews and testimonials: Positive customer reviews and testimonials are powerful drivers of organic growth for e-commerce businesses. Encourage your customers to leave reviews on your website, social media channels, and third-party review sites to boost your brand’s credibility and trustworthiness.

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Final Thoughts

Organic growth plays a pivotal role in the long-term success and sustainability of e-commerce businesses. By focusing on building a solid foundation, enhancing credibility and trust, improving customer retention, increasing profitability, and fostering innovation and adaptability, companies can thrive in the competitive online marketplace.

To promote organic growth, e-commerce businesses should prioritize optimizing their website design and user experience, delivering exceptional customer service, developing a strong content marketing strategy, utilizing search engine optimization, leveraging social media marketing, and encouraging customer reviews and testimonials.

By implementing these strategies, e-commerce businesses can effectively drive organic growth, strengthen their brand identity, and achieve lasting success in the ever-evolving digital landscape. Ultimately, organic growth is not just a desirable approach for e-commerce businesses; it is a necessity for thriving in today’s competitive online environment.

5 Simple Strategies for Managing COGS

Cost of goods sold (COGS) directly measures the costs incurred when producing products or providing services to customers. COGS is calculated by totaling the sum of raw materials, labor, packaging, and other expenses used during the manufacturing process, or, in the case of service-oriented businesses, all the materials and labor necessary to provide a final service to customers.

COGS is a crucial metric for businesses, and effectively managing it is essential for success. It is a major expense across all industries that directly impacts profits. A thorough understanding of the factors that contribute to COGS can give your business the opportunity to streamline operations, reduce costs, and increase your bottom line. Below are some of the strategies you can use to better manage your business’s COGS.

Inventory Management

Accurately tracking inventory levels and forecasting demand will minimize waste and reduce the cost of excess inventory. This can be done using systems to track inventory levels in real-time, or by establishing policies for regular reviews. These two methods can also be used in concert with one another, with regular reviews giving you an opportunity to reassess long-term goals while real-time inventory tracking acts as a way of reinforcing the importance of inventory management in your daily operations.

Keeping abreast of your current inventory will allow you to make adjustments that align with demand. Having sufficient inventory to meet demand is critical for the success of your business as having insufficient inventory to meet demand will lead to customer dissatisfaction and loss of sales. However, a surplus of inventory can restrict your cash flow, leaving your money tied up in assets that can’t be readily moved. Reducing excess inventory will free up capital that can be better used to invest in your company’s growth.

Supplier Negotiation

Establishing long-term relationships with suppliers and regularly reviewing your contracts will give you an advantage when negotiating with your suppliers. The terms and prices laid out in your contracts can be subject to change over time, so always be aware of what other vendors are available to you and what rates they offer. Building strong relationships with your vendors and understanding the market in which they operate will help you secure favorable terms and prices for the materials and supplies you need to produce your products or to provide your services.

Lean Manufacturing

Emphasizing the elimination of waste and inefficiency in all aspects of the production process streamlines operations. Finding ways to eliminate unnecessary steps can reduce the cost of producing products or providing services. The fundamental principles behind lean manufacturing are echoed in various production methods across a wide variety of industries. Essentially, this approach boils down to the old adage “time is money.” The less time your product spends in the manufacturing process, the lower its final cost, and lower costs widen your margins.

Automation

Investing in automated systems can reduce the need for labor and reduce the cost of production. However, it’s important to carefully consider the upfront costs of automation and ensure that it will result in long-term cost savings. Labor costs are often some of the most expensive costs associated with COGS, however, automated solutions aren’t always cheaper.

Outsourcing

In some cases, outsourcing certain production processes or tasks to specialized vendors can be more cost-effective than performing those tasks in-house. However, it’s important to carefully consider the potential risks and challenges associated with outsourcing, such as quality control and delivery times.

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Final Thoughts

The methods for reducing COGS are influenced by a wide variety of outside factors. However, the fundamental principles behind COGS reduction are simple: simplified processes, efficient use of labor, favorable vendor contracts (i.e., understanding your suppliers’ markets), and knowing when to outsource.

By implementing the strategies above and regularly reviewing and analyzing COGS data, you can effectively control and reduce costs, allowing you to increase your business’s profitability and long-term success.

5 Fastest Growing Sectors in Southeast Asia in 2023

Southeast Asia is a diverse and rapidly growing region with a wide range of industries and sectors experiencing strong growth. Below we explore 2023’s top five fastest growing sectors in Southeast Asia and delve into the trends and opportunities driving this growth.

E-commerce

E-commerce is simply the buying and selling of goods and services online, and in Southeast Asia it has become an increasingly popular form of commerce in recent years. With a large and growing middle class, more and more people in the region are turning to online platforms to purchase a wide variety of goods and services. This trend is expected to continue in 2023. Consumer data analyst group Satatista predicts Southeast Asian e-commerce sales to be $158.9 billion in 2023. This growth is expected to continue at an annual of rate of twelve percent for the next four years. A key factor driving this growth is the increasing availability and affordability of internet and mobile technology, making it easier for people to shop online. Additionally, e-commerce companies like Lazada are investing heavily in logistics and delivery infrastructure, making it more convenient for people to receive their purchases.

Digital healthcare

The COVID-19 pandemic has had a profound impact on the healthcare industry in Southeast Asia, with a significant shift towards digital healthcare solutions. This includes telemedicine, remote patient monitoring, and the use of electronic medical records. Last year, Tech In Asia reported that investors in this sector invested over $100 million USD more in the first half of 2021 than the entirety of 2020 alone. In 2023, the digital healthcare sector is expected to see strong growth as people continue to prioritize their health and as technology improves. The increasing availability of mobile health apps and telemedicine platforms make it easier for people to access healthcare services remotely, which also contribute to driving this growth. Additionally, the use of electronic medical records is helping to improve the efficiency and accuracy of healthcare delivery.

Fintech

Financial technology, or fintech, refers to the use of technology to improve and automate financial services. This sector is growing rapidly in Southeast Asia, with a large number of startups entering the market and offering innovative solutions such as mobile payments, online lending, and robo-advisory services. Jenfi is of course one of the many companies in this sector offering online lending to companies operating in digitally-enabled businesses.

In 2023, the fintech sector is expected to see significant growth as more people in the region gain access to financial services through digital platforms. The proliferation of mobile phones and increased internet access in Southeast Asia has made it easier for people to access financial services online. Additionally, the rise of digital currencies and blockchain technology is opening new opportunities for financial innovation.

Renewable Energy

As concerns about climate change and the need for sustainable energy sources continue to grow, the renewable energy sector is expected to see strong growth in Southeast Asia in 2023. This includes solar, wind, and hydroelectric power, as well as biofuels. Many countries in the region are investing in renewable energy as a way to meet their growing energy needs while also reducing their carbon emissions. Just last year Forbes reported on a $2.4 billion dollar investment toward the development of a solar farm on Batam, an Indonesian island just 44 kilometers south of Singapore. One of the key drivers of this growth is the increasing cost competitiveness of renewable energy technologies, making them an attractive alternative to fossil fuels.

Additionally, government policies and incentives are supporting the growth of the renewable energy sector. Following the Paris Agreement, the region has renewed its commitment to reducing emissions. The Association of Southeast Asian Nations (ASEAN) set a target that calls for 35 percent of installed power capacity to be renewable energies by 2025. And the majority of ASEAN members further committed to renewable energies by agreeing to a target of net zero for the year 2050. Early this year the International Renewable Energy Agency (IRENA) hosted an event to further explore ASEAN’s renewable energy prospects with the goal of promoting renewables within the region, furthering the support for renewable energies.

Education Technology

Education technology, or edtech, refers to the use of technology to improve and enhance education. This sector is growing rapidly in Southeast Asia, with a large number of startups offering online learning platforms, educational software, and other innovative solutions.

Southeast Asian countries currently have substantial populations dispersed over large geographical distances while having a limited number of educators that can reach these populations. These conditions result in an ideal environment for edtech to flourish. Increasing availability of internet and mobile technology, and technological developments that make that connectivity possible, mean that educators can provide increased access to education in areas that previously would have been left under serviced.

A growing middle class in Southeast Asia is also driving demand for higher quality education and training. This group drives competition in the edtech sector as potential students and parents of potential students: explore edtech options that enhance traditional education; seek out services that produce higher quality results; and, perhaps most importantly, take the opportunity to pursue educational services beyond the limitations of physical location. Growing competition in this market is also pushing the rise of edtech services that support teachers and help them to become more competitive.

In addition to all the factors listed above, the Covid-19 Pandemic led to a rapid acceleration of growth in this sector that has drastically changed the edtech landscape. In 2020 edtech usage tripled from what it had been in the previous year and $54 million USD was invested directly in the sector. Edtech is expected to see strong continued growth in 2023 as more people in the region seek out ways to learn and improve their skills.

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Final Thoughts

Each of the sectors discussed above are driven by a combination of technological advancements, economic and demographic trends, and regulatory and policy changes. They offer a wide range of opportunities for businesses and investors looking to tap into the growth potential of this dynamic and rapidly growing region. Jenfi itself is a part of the fintech sector, but in addition to that we are in a unique position that allows us to recognize the importance of the other sectors in this article as well. The potential of the e-commerce market is something we have built our company in response to. It is our mission to help businesses in the e-commerce market expand and grow. We also offer support to those who provide the software that facilitates other sector’s operations, these sectors include: edtech, telemedicine, and many other markets that continue to grow in the digital market.

Measuring The Advertising Effectiveness Of A Marketing Campaign – 8 Vital Metrics For Marketers

Measuring the advertising effectiveness of a marketing campaign is the foundation for growth marketers. Using ad metrics reasonably, we can determine how well our performance is and what factors it needs to drive better results.

So, how well do you understand the advertising metrics? Explore 8 critical advertising KPIs in this article with Jenfi Capital.

What Are Advertising Metrics?

Advertising metrics, also known as KPIs (Key Performance Indicators), are standards used to measure and track the performance of digital marketing campaigns.

These indicators are measured with exact values. Through that, the marketing team will determine whether their marketing campaign has brought significant results or not. 

With the explosion of social networks, various marketing methods, and many separate tools, advertising channels, and techniques, determining advertising performance metrics is paramount to defining the victory of marketing campaigns.

The Importance Of Using Advertising Metrics 

It is very easy to lose time and money in digital marketing if you do not know clearly your goals. This happens when you use many advertising tools but do not collect and analyze metrics in each stage.

Deploying a series of advertising activities takes up as much financial as human resources. Understanding and managing advertising indicators will help us measure efficiency and use the money wisely.

Advertising metrics also help businesses determine the progress of running marketing campaigns. Also, they help figure out which campaigns are performing well and which ones need to be reevaluated. Eventually, it ensures your company is spending valuable budgets in the right way. 

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Optimize your digital ad spend with actionable insights designed to help you scale. Make sure you’re always getting the best return on your e-Commerce campaigns with personalized recommendations.

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According to The CMO Survey, 72% of marketing chiefs said the “importance of marketing” has grown in their companies over the last year, but only 39% rate their strategies as effective.

Digital Marketing takes place on many platforms: Facebook Ads, Google Ads, Google Analytics or Google Sheet, CRM, etc., and each platform will have different metric standards. If you are doing online marketing campaigns on a few of them, then a good knowledge of ad indicators will help you to maximize your efforts. 

8 Important Advertising Metrics For Any Marketers 

If you want your business’ marketing campaigns to be effective, you need to pay close attention to the following 8 KPIs (Key Performance Indicators).

ROI – Return On Investment

ROI (Return On Investment) is an indicator that measures the ratio of profits earned to the costs spent on a marketing campaign. In other words, this is the ratio of the profit made to the initial cost of the investment.

ROI is one of the most important KPIs to measure the effectiveness of marketing campaigns. This is strictly the first number that you need to know. This metric helps you measure the sales revenue based on your business’s budget.

Almost every effort in marketing campaigns has the final purpose: The craving to increase the profit on the cost spent.

If the positive ROI is high, your marketing campaign is doing well. On the contrary, you need to find the right solution to immediately adjust your marketing campaign.

CPM (Cost Per Mile) – Cost per thousand

CPM (Cost Per Mile) is a metric reflecting the cost per one thousand impressions/ views on an ad. Simply speaking, if the CPM of a particular keyword is $1.00, that means you must pay $1.00 for every 1,000 impressions to show your ads for this keyword.

CPM helps you measure the performance of your campaigns within and across different platforms. For instance, if you want to place an ad banner on website A, but then you discover that website B has more potential, then you can use CPM to make cost comparisons between these media (at both stages: preparing and reviewing stage)

CPL (Cost-per-Lead) – Cost pay for 1 potential customer

CPL (Cost-per-Lead) is a metric that helps measure marketing campaigns’ effectiveness based on the leads generated. CPL focuses on the number of potential customers from marketing campaigns. The price per lead depends on the type of strategy you use for each lead generation channel.

Cost Per Lead (CPL) = Total Marketing Spend / Total New Leads 

To achieve the most accurate measurement results, the CPL needs to be combined with other factors affecting the business’s profitability. Cost per lead enables you to set the sales goals, calculate potential ROI, and determine advertising budgets.

CR – Conversion Rate

CR can be understood as the conversion rate from visitors to customers. CR is critical because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have. 

For example, if you need $1,000 to double your website traffic at the CR of 2.5%, but you only need $500 to improve the CR from 2.5% to 5%, then the second choice makes more sense.

CRR – Customer Retention Rate

CRR is an indispensable advertising measurement indicator to evaluate whether a marketing strategy is successful or not in many ways.

Customer retention measures how successful a company is at acquiring new customers and how successful they are at satisfying existing customers. It also increases ROI, boosts loyalty, and brings in new customers.

If the CRR is higher, your campaign is well enough to satisfy your customers and vice versa.

RR (Run Rate) – Goal achievement rate

RR (Run Rate) is an indicator that reflects the speed of completing the goal of the entire campaign compared to the original overall plan. RR helps marketers identify precisely how much budget they have spent to accomplish a part of a goal. Then, decide to add a method to accelerate or maintain the growth momentum.

CLV – Customer Lifetime Value 

CLV (Customer Lifetime Value) is an indicator that reflects the lifetime value. In other words, this indicator tells you how much profit a customer will bring to you over their lifetime.

CLV analysis helps businesses see which marketing activities are the most useful in bringing in the best customers.

Customers’ economic value is not just in 1-time purchases. It lasts as long as they are buying from your company. Knowing CLV, companies can determine which customer groups will bring the most value to the company, which products customers want the most, and then fine-tune the company’s effort to retain these high-value customers.

Social Media Reach

Marketing through social networking platforms has solid viral power. If you have creative ideas that drive customer actions, the cost of social marketing is insignificant compared to the potential results.

Platforms like Twitter, Facebook, LinkedIn, and Pinterest have very high conversion rates. Using Social Media Reach metrics helps businesses measure how effectively social media contributes to online conversion rates.

In addition to these indicators, you also need to pay attention to others, such as Impression (Display Index), CTR (click-through rate); CPC (Cost per click); CAC (Cost of finding customers), etc.

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Important Notices In Measuring Digital Marketing Campaigns

Do not be complacent with “appealing” indicators

Marketing is the overall combination of many different activities. Sometimes, the indicator is stunning, but in reality, the effect it brings is trivial. Without experience in analyzing metrics, businesses are easily misinterpreted that their campaigns are running well, but the results obtained do not bring considerable impacts.

For example, a low CPL is great, but it does not mean that the potential leads can be converted into actual buyers. It just means how much money you are getting leads, and there will be many further activities to bring these leads to qualified customers.

Break down your goals into phases

An overall marketing campaign will be divided into several stages. Each stage can be organized into a small campaign. It is necessary to clearly define the overall goals and the sub-goals for each stage.

Selecting a reliable data source to measure marketing effectiveness

Many social networking platforms allow running digital ads, such as Facebook, Instagram, Youtube, Google Ads, Google Analytics, etc. These channels have different ways of calculating metrics.

Because of the data source, each channel’s metrics are different. If your business is running on Omni-channels, you need to find an experienced marketer to measure the effectiveness of your marketing in the most accurate way.

Limit the use of unnecessary data 

With a massive amount of data available with a few clicks, marketers need to determine which metrics their business is interested in. Which metrics matter to which campaign.

Regularly checking the metrics in the overview report will give you an accurate view of the status of your marketing campaign.

Choosing the right metrics really matters in digital marketing. We hope this article’s information on advertising metrics will reconcile your marketing efforts and the available budgets to reach the maximal results. 

Seven Strategies For Business Owners To Run Low-Cost Advertisements

Marketing campaigns play a critical role in brand positioning and a company’s success or failure. Big brands are now spending a lot of money on marketing campaigns and expect the best results. Is there a way for business owners to run cheaper ads for their marketing campaigns? 

Seven Strategies to help business owners run low-cost advertisements

Here are seven tips to help business owners run low-cost ads and optimize marketing campaign costs. These suggestions are appropriate for both startups and SMEs.

Social Media Marketing: Marketing via social networking sites

If you survey today’s digital gurus, 95 percent of the experts will say, “Social network is the most effective marketing channel today.”

Social media platforms with many users and interactions, such as Facebook, Tik Tok, Instagram, Gmail, Blog, Twitter, and others, have become essential in people’s digital lives.

 Facebook currently has about 3 billion users, Instagram has 800 million users, and Twitter has reached 300 million. This figure is bound to rise.

Therefore, don’t pass up the chance to run low-cost ads on this platform.

Social media marketing, in particular, has the potential to generate powerful viral effects— going beyond space and distance.

Social media marketing is a cost-effective and practical solution. You can run an ad campaign of short videos at a bargain cost.

The greatest strength of social media marketing is the spreading speed. When a single user is influenced, it can significantly affect many customers, their relatives, and friends.

The most significant advantage of using social media platforms in marketing is providing a massive and intricate user database.

Marketers can learn about their customers’ preferences for products or brands, how frequently they visit a website, how much they are willing to pay, and their customer’s priorities and consumption habits by conducting surveys or observing user behavior. 

Then they can determine the number of potential customers and design appropriate communication approaches.

Social media marketing is also an excellent way to build and maintain customer relationships.

You can create a company’s fan page, a community group or a hashtag, etc., to build a community of brand supporters. You also can help or advise in answering questions and promoting more remarketing.

SEO (Search Engine Optimization)

SEO is an abbreviation for Search Engine Optimization – optimization of search tools, unquestionably one of the center activities in online marketing.

While traditional marketing can distract and attract customers, SEO is more sustainable as this approach relies on search keywords to direct users to websites.

SEO can generate a large number of customer leads. When you optimize SEO, the credibility of your website skyrockets, as does your company’s reputation. 

Content Marketing

Content marketing is also one of the best ways SMEs can use to run low-cost advertising campaigns.

You may choose creative, trending content to market your products to the market.

Marketers using content Marketing should assume that potential customers will be interested in their products due to “curiosity,” this can help to boost the conversion rate to a higher level. These potential customers will then move from the “curious stage” to the “desire to discover more stage” if your content appeals enough.

Video Marketing

Video marketing is a huge trend now, happening across many platforms such as Tik Tok, YouTube, and Facebook platforms.

Statistics figured out that users are spending up to 1 billion hours on YouTube every day. This figure is multiple times higher than Tik Tok and Facebook. The potential for growth in video marketing is undeniable.

The best part of it is that video marketing is not expensive. The original idea and unique presentation are what set you apart from others. 

A good tip in making videos for marketing is using stock footage to cut the cost, and using short-length videos can help you save tons of money. You should then upload the video directly to the company’s social media accounts or free social media.

Video marketing is unquestionably one of the most cost-effective advertising methods for businesses in the golden age of streaming marketing.

Banners ads marketing

Banners ad is a traditional marketing strategy that is still useful today.

A well-designed banner strongly affects your potential customers. You will entice the customers to enter your store by using a great design banner with a meaningful slogan and CTA sentences.

Banners ads can also help in branding without breaking your wallet. You invest one time and can use it for a long time. In the long run, this is also one of the most affordable advertising options that leave a lasting impression on customers.

Partnership marketing

The explosion of social media has led to the development of partnership marketing, happening between brands and brands, or brands and KOCs.

Marketing collaboration between two brands allows both to access each other’s customers and takes advantage of other benefits: such as distribution network, infrastructure, or brand identity.

An example of this strategy is brand sponsorships for popular TV shows and game shows.

When the MC introduces a game show and mentions sponsors, it is a marketing collaboration.

When visiting restaurants, shopping malls, etc., you will also see logos of delivery Apps such as Grab, Gojek, and Now. It’s also called co-marketing.

Partnership marketing uses both parties’ marketing resources for mutual benefit, which is one of the low-cost advertising options for companies looking for cost-effective solutions for their marketing campaigns.

Email Marketing

Email marketing is one of the most affordable and cost-effective forms of advertising that has existed. While many companies have exploited their email lists to convert general audiences to customers, many are still leaving email marketing on the table.

With email marketing, you can easily impress potential customers and build long-lasting relationships with them in a direct way. A great way is using automated mailing tools to send general emails such as: thank you emails, successful transaction notification emails, payment reminder emails, promotions emails, etc., to save the effort. With personalized emails, you need to have a great writer to write impactful, highly converting emails to cater to the need of each potential customer group. 

These days, a lot of e-commerce sites are doing an excellent job with this type of low-cost advertising. Email marketing is affordable, yet the conversion rate is worth using.

A remarkable notice when running an email marketing strategy is that you should personalize the sent emails. 

In other words, different customer segments should receive distinct content which gives a more professional impression and makes customers feel more valued than mass alike emails.

Furthermore, statistics show that emails with business domains are frequently rated higher than personal emails.

Don’t pass up running this low-cost advertisement while it’s cheap and effective.

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Suggestions For Lowering Marketing Costs

After each marketing campaign, many businesses expect to optimize costs to maximize ROI (Return on Investment). It would be best to keep the following things in mind to ensure that your overall marketing campaign is successful.

Optimize advertisement delivery

Before developing a marketing strategy, you need to analyze the data gathered thoroughly. 

It would help if you first determine your target audience, including demographic details like age, gender, income, purchasing habits, etc. The more information you have, the more detailed your plan will be.

The more specific the target audience is, the more targeted the campaign can be. This aids in avoiding financial waste and cutting the cost for non-targeted audiences.

In addition, regularly reviewing the ads’ performance allows you to understand the insight and adjust the target to reach your potential customers at the lowest cost.

Identify the right potential customers

Identifying the right potential customers is a critical skill in marketing. No company wants to waste money advertising products to people who don’t need them.

Take advantage of marketing trends

Creativity is always an essential factor in marketing. Those who have the latest, better impressive ways of acquiring customers will be the ones to attract more customers.

Tips To Help Business Owners Run Low-Cost Marketing Campaigns

Five Tips To Help Business Owners Run Low-Cost Marketing Campaigns

 

Digital marketing has evolved into one of the most beneficial tools for businesses. Digital marketing technologies improve corporate performance while also assisting in developing brands. Paid advertising tools are constantly changing to meet the needs of reaching target customers on social interaction platforms. So, how can businesses use low-cost advertising to boost their bottom line?

The Primary Purpose Of Running Advertisements

First, businesses must understand why they need to run advertisements. As previously stated, the goal of running ads will typically fall into one of two categories: business performance and/or branding.

  • Running performance-based ads will include promotional activities directly aimed at increasing revenue. These marketing activities will have a direct impact on the sales team.
  • Brand advertising will include activities that increase brand awareness, brand identity, or brand sentiment on social media channels. These activities are often planned and are linked to the business’s branding strategy.

What exactly is low-cost advertising?

Running cheap ads is defined as running ads so that the cost per result from the ad is as low as possible. 

There are various ways to measure an advertising campaign depending on its goal. When it comes to business performance advertising, the metrics to keep in mind are typically CPL (cost per lead), CPI (cost per installation), CPC (cost per customer), and CIR. (cost to income ratio). 

Meanwhile, brand development ads will be measured by CPR (cost per reach), CPE (cost per engagement),… or other interaction metrics.

Tips to help business owners run low-cost advertisements

Investigate and select the most cost-effective advertising channel

Currently, all advertising providers allow for multi-platform and multi-channel campaigns. Every company should take the time to learn about the benefits of advertising providers and the advantages and disadvantages of the tools they provide. Business owners can then plan to select appropriate advertising channels. In running advertisements, companies will save a lot of money if they do their research ahead of time.

Advertising content optimization

Each type of advertising will allow you to create unique content. Here are some examples of what might appear on your ad:

  • Text: Include all editable text, such as titles, headers, and paragraphs
  • Icons: Include signs that demonstrate nuance and draw attention to your article.
  • Image: Consists of purposefully designed static and animated images consistent with advertising objectives.
  • Videos: These are short videos.

Optimizing advertising content requires businesses to see their target customers and what message they want to convey to them and build content accordingly. Companies must harmoniously combine the elements above to form a complete advertisement to achieve this.

Sort and optimize the target customer database

Customers’ consumption habits will differ depending on their demographic characteristics. As a result, businesses must tailor their advertisements to each distinct audience segment. Categorizing and continuously optimizing customer files will assist companies in recognizing differences in their purchasing behavior and developing a plan to build content accordingly. Here are some common demographic factors that advertising tools frequently allow businesses to optimize:

  • Age 
  • Gender 
  • Location
  • Interests
  • Behavior 

Avoid technical blunders

You might not realize it, but advertising tools always require time to optimize ads, even if you are the creator and directly run them. 

Typically, your ads will be delivered to the most targeted customers within half a day of going live. So, you’ll have to spend time and money editing and rerunning another ad for every technical error.

Analyze and improve ad campaigns regularly

As previously stated, the ad running process is complicated by numerous factors. As a result, businesses must constantly monitor and analyze their advertising campaigns’ effectiveness to maximize the cost per dollar spent.

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Platforms That Allow For The Running Of Low-Cost Advertisements 

There are currently many social platforms that allow paid advertisements to be placed. The most well-known are Facebook Ads, Google Ads, Zalo Ads, Coc Coc Ads, and the newcomer Tiktok Ads. As a result, each platform offers a unique set of advertising options.

Facebook Ads is an advertising service offered by the social networking platform Facebook, which has over 1.9 billion daily visitors. Facebook allows advertisers to reach users through a variety of channels, including the News Feed, Messenger, Videos, Stories, and cost per impression (CPM). Furthermore, Facebook owns the social network Instagram and allows advertising on both platforms.

Google Ads: This is an advertising service available to all users of the Google.com search page, which is an effective advertising channel because the users have some demand for the product/service. Unlike Facebook, Google Ads uses a cost-per-click (CPC) billing model, which means businesses only pay when someone clicks on their ad. Furthermore, Google Ads allows display advertising on other Google social platforms such as YouTube or affiliated websites.

Zalo Ads: Like Google Ads, Zalo Ads is a cost-per-click (CPC). Currently, Zalo Ads is not an effective advertising tool compared to the two giants mentioned above. Still, in the future, Zalo Ads may be able to capitalize on the potential of some new channels because Zalo has the advantage of owning a phone number.

Tiktok Ads: As a rising star in the advertising industry, the Tiktok social network is rapidly expanding. Tiktok, launched in 2016, now has over 1 billion visitors per day and is still growing, making it a fertile ground for advertisers. Tiktok Ads currently charges for cost per 1000 impressions (CPM).

Ads are now almost an essential part of any business. With the numerous advantages that online advertising provides, every company should devise a strategy for making the best use of advertising. However, this is still a cost-effective method of increasing efficiency, so businesses must focus on the appropriate use of financial resources and continuous improvement to achieve advertising effectiveness. Remember that running cheap ads means the lowest cost per result from the ad, not the least amount of money.

 

Must have 4+ Marketing Tools to Grow Your SME Business Today

As a small and medium-sized business owner, investing in marketing activities to raise brand awareness and sales growth is essential. Online marketing should be done now, especially when everyone spends hours on their phones and laptops rather than going out to shop products and services. 

In online marketing, a  successful marketing campaign can turn out to be a huge hit, boosting sales and taking your SME to the next level.

However, a common question arises as to whether any marketing tools are effective and cost-efficient? 

Let resolve this problem by examining these top 4+ free marketing tools used by marketers at all levels to help SMEs grow and scale effectively. 

4+ Free Marketing Tools to Grow Your SME Business Today

Hubspot

HubSpot is a US-based company whose primary function is to develop and sell marketing and sales software. HubSpot software provides a powerful marketing tool stack for inbound marketing, managing sales, and customer services.

Hubspot is currently one of the leading marketing and CRM service providers in the world today. Hubspot’s full range of products and services provides tools for social media marketing, content management, web analytics, and search engine optimization.

8 outstanding features of Hubspot

  • Free Customer Management
  • Create a landing page
  • Create market segments
  • Automated email sending
  • Create work workflows
  • Online advertising management
  • Manage social networks
  • General Dashboard

SendPulse

Omnichannel marketing is no longer a new thing for brands when they always have a budget and many different departments to handle each separate communication channel. So for small and medium businesses to apply the multi-channel marketing model? The answer is yes with SendPulse.

With SendPulse, SME owners can proactively deploy omnichannel marketing campaigns without paying extra costs to hire external partners.

What you will get with SendPulse 

  • Email Service
  • Mailing list
  • Artificial Intelligence
  • Email marketing automation
  • Email templates
  • Subscription forms
  • Statistics
  • A/B testing
  • Web Push Notifications
  • SMS Service

Google Analytics

Free, completely free, and much more. SMEs pay no cost for using Google Analytics in managing and analyzing data on their website data.

Google Analytics gives you insights into everything going on on your website.

From the number of visits, the time visitors stay on the website, which pages are the most popular, and which pages they leave the most after reading, along with tons of other valuable data to help businesses optimize the efficiency of their website.

Every data allows you to have a clear view of everything going on with your website. From there, small and medium-sized business owners will have a plan to refine their marketing strategies based on an understanding of the behavior journey of visitors on their website.

In particular, Google Analytics also fully integrates with a range of other free Google products, helping to create an excellent and superior ecosystem for small and medium business owners.

Google Analytics top benefits include

  • Track website traffic and where they come from
  • Track user’s conversion and activities on your website
  • Segment your audience by demographic, ages, and more
  • Visual steps for improving your website traffic
  • Big data for you to download any analyze

BuzzSumo

In today’s digital age, trend marketing is one of the growth tactics to reach more audiences by giving what they are currently interested in. Catching consumer appetite, combined with the right content for the target audience, will help small and medium businesses save a huge number of marketing costs, and BuzzSumo will help you do it.

The tool allows you to identify the most trending topics in your market, gain insight into how your competitors are performing with analytics data, thereby having the appropriate direction for their business approach.

BuzzSumo’s most valuable features

  • View Most Shared Content
  • Content Analysis
  • See What’s Trending Now
  • Find Twitter Influencers
  • Set Up Real-Time Monitoring

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Use Jenfi Insights to optimize your marketing campaign

Jenfi Insights is a platform that integrates data sources from e-commerce sales channels, online advertising channels, marketing costs, sales, inventory… giving you an intuitive dashboard to manage your finance and marketing in just a blink of your eyes.

A powerful feature of Jenfi Insights is the capacity to find out which parts of your marketing campaigns are contributing most to your bottom line. Thereby, you can easily fix issues with your marketing funnel and improve performance.

Try out our free Jenfi Insights feature for partners by registering here.

Use Jenfi Insights to optimize your marketing campaign

Jenfi Insights is a platform that integrates data sources from e-commerce sales channels, online advertising channels, marketing costs, sales, inventory… giving you an intuitive dashboard to manage your finance and marketing in just a blink of your eyes.

A powerful feature of Jenfi Insights is the capacity to find out which parts of your marketing campaigns are contributing most to your bottom line. Thereby, you can easily fix issues with your marketing funnel and improve performance.

Try out our free Jenfi Insights feature for partners by registering here.

11 Practical Tips To Help CEOs Manage Business Finances Effectively Today

Effective financial management is a crucial factor for the development of any enterprise. This includes planning, organizing, controlling, and monitoring financial resources to ultimately achieve the business’s business goals.

Sound financial management helps businesses effectively use resources to promote growth, create competitive advantages, and above all, towards long-term sustainable stability.

CEOs need to master financial management knowledge and skills during challenging times. At first, everyone hears that this is a formidable job, and everything revolves around reports, data, and complicated statistical functions (Despite the harsh truth).

However, from a more clear perspective, financial management is the efficient coordination, distribution, and use of a company’s cash flow.

Now, things just got easier for business owners to start managing the company’s finance with these 11 practical tips.

11 tips to help CEOs quickly manage business finances

Have a clear business plan

The business plan defines the business’s goals in the short term and for many years to come. It should detail how you will use your capital and how your cash flow will work. 

This will make it easier for you to figure out the exact number and appropriate funding for each stage of operation and development.

Regularly monitor your financial health

The everyday work of CEOs when they wake up is constantly monitoring the progress of their business activities. This gives you an insight into how much money you have in the bank, your current sales, and your inventory. 

At the same time, this also helps you easily re-evaluate the goals set out in the monthly business plan, thereby finding the most suitable strategy to optimize the cash flow.

Ensure timely payment from customers

Businesses can be in big trouble if customers pay late. To reduce the risk of late or non-payment, you should make the terms and conditions clear from the outset. 

It will help if you also issue invoices quickly. Apply advanced order and debt management solutions, thereby contributing to optimizing the process and, at the same time, saving businesses a lot of time and effort while ensuring the money stream is stable.

Know your spending and always have cash ready

Cash is almost the lifeblood of businesses. Even large corporations with steadily growing profits can still be in big trouble if they don’t have enough cash to cover day-to-day expenses such as rent and salaries for staff. 

You should know the minimum your business needs to survive and make sure it doesn’t fall below the minimum.

Always keep a close eye on all kinds of accounting documents

CEOs should continually closely monitor and update the status of accounting documents to avoid the risk of losing money due to failure to keep up with late payments of late customers to suppliers – partners mine. 

Using a sound record-keeping system will help you keep track of your expenses, debts, and creditors so that you can coordinate cash flow most efficiently.

Pay taxes on time

Failure to meet tax return filing deadlines and payments may result in penalties and additional penalty interest. 

These are unnecessary costs that can be avoided with a clear plan and careful preparation. Keeping accurate records saves your business time and money and prevents your business be blocklisted by Government Agencies.

Managing and optimizing costs right from the operation stage

Control operating costs from the starting stage, such as cutting office electric bills in the office. Other tactics can be using everything efficiently, from office equipment to air conditioning, even employee overtime.

Inventory Control

Continually monitor and check inventory to balance input-output of goods and maintain a healthy cash flow. Try out new advanced stock management technologies to keep your cash flow steady and keep the right amount of inventory.

Find the right business loan.

You must choose a loan source that is suitable for the purpose, model, and size of your business. Typically, smaller companies rely more heavily on overdrafts and personal relationships, but this is not necessarily the best way to get funded.  

Get a free estimate for funds to grow your business.

Jenfi offers business owners a new solution to resolve this headache, with a streamlined procedure and fast disbursement time. In addition, the solution packages are also designed for each separate business model, meeting the capital source to solve the immediate financial needs of the business.

Personalized Marketing – The Secret Recipe For Companies To Grow

These days, we are constantly bombarded by all means of advertising. It can be billboard ads on the streets, TV, cold emails, social media platforms, and many more. Thousands of brands are craving a place in the customer’s mind. This causes a lot of confusion, even annoyance to the consumers if these contents are not relevant to their personal demands. 

So, how can a company capture the customer’s attention in saturated markets? The new marketing trend personalizing for every consumer will help you to touch their hearts. Want to know how? This article will discover several brilliant ways to personalize brand messages in 2022.

What is personalized marketing?

Personalized marketing is also known as one-to-one marketing. Simply put, this is a marketing strategy aimed at each customer. Marketers will rely on the demographic, background, and behavioral analysis data… to filter out messages specific to that customer. This model is different from traditional marketing. Traditional marketing emphasizes quantity rather than relevance to each audience to reach a broad audience base.

With the development of digital technology and fierce competition among companies in the market, marketers began to analyze customers in detail and emphasize the aspect of personalization. To date, these two marketing methods go hand in hand to provide potential customers with the most relevant message at the ideal time.

Benefits of personalized marketing

1. Improve customer experience

This approach stands out because it delivers personalized customer experiences. Based on information collected from potential customers such as personal information, product surveys, brand preference, etc., this will be the basis for businesses to define goals and strategies to approach the target segments. Eventually, companies can offer appropriate solutions to improve the quality of services and products

2. Growth revenue

All marketing methods have a common aim: increasing sales. Studies show that customers who get recommendations that match their preferences and needs are more likely to “open their wallet.” They can even stick around for a long time with the brand and introduce you to others if your product or service makes them satisfied.

3. Build brand loyalty

This is a crucial factor in maintaining sustainable business development. Loyal customers act as advocates of the business. They will make regular purchases, contribute brand recommendations, and be willing to try out new product launches. Besides, they are also “VIP members” in deploying other media campaigns.

4. Create consistency across channels

With the rise of e-commerce, your customers can be everywhere. At that time, businesses need to create a seamless shopping experience on different channels: Facebook, email, hotline…The consistency will show a business’s professionalism. At the same time, the brand’s image will score the highest points in customers’ eyes.

Challenges of personalized marketing

1. Choose appropriate technologies

Outdated technologies are no longer suitable for personalized marketing. Personalized marketing focuses mainly on data collection and automation. So marketers need to use more innovative ways to collect, analyze and automate everything. However, many still struggle in this stage because of using old technologies.

2. Have adequate time and resource

To take advantage of the intelligent technologies, you need a dedicated team for this activity. Importantly, your team will need a certain amount of time to get used to and master the tool stacks. While this is an essential requirement, not every company will take the time and resources to set up a successful personalized marketing campaign.

3. Aggregate and process customer data

When marketers know the fundamentals across all channels, they can paint an overall picture of their customers. However, linking customer data is still a big challenge for most marketers today.

The ultimate personalized marketing strategies 2022

1. Personalized Email Marketing

Email personalization marketing is increasingly popular all over the world. Marketers can create and send personalized emails to a specific audience with this activity. At this point, an insightful understanding of your users will be the key to ensuring the relevance of email content.

2. Focus on the customer’s Fear of missing out (FOMO)

This is another crucial factor that drives customers to take action. No one wants to miss out on something special. Therefore, showing them how many other people view this product or have already purchased it will help them make decisions more quickly. This method is widely applied on e-commerce sites by using short-and-to-the-point messages.

3. Understand customer behavior and product recommendations

This is a relatively common and effective strategy. This strategy requires collecting customer data to identify the products or services they are most interested in. 

From there, adjustments are carried out in the most appropriate direction. An example is seeking the support of email service providers. The goal is to integrate a customer’s recent browsing and transaction history for a personalized marketing campaign. 

4. Cart reminder

Surveys show that businesses lose up to $4 trillion in revenue each year due to abandoned shopping carts. However, the good news is that up to 65% of the cart can be done if the business sends a simple reminder to the customers. The conversion rate can be increased by simply sending personalizing reminders based on customer data collected.

Final thoughts

Customers always want to be cared for and treated differently from others. Therefore, personalized marketing will be an “effective weapon” to touch customers’ hearts. When becoming a sympathetic friend to your customers, you have taken a considerable step forward in sustainability and set yourself apart from all others. Jenfi hopes the article is helpful to you.

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How To Take Care Of Customers: A Detailed Guide From Jenfi (2022)

One of the critical determinators that help businesses succeed is taking care of their customers. Although customer care plays a vital role, people tend to underestimate this post-sale stage because it is easy to do. 

So, what is the primary mission of the customer care stage, and is this type of work really as easy as many are perceiving? Let’s discover the authentic way to take care of a customer and the best ways to make them satisfied in today’s article.

What is customer care?

Simply put, customer care is solving problems from your users, including answering their inquiries, explaining the product’s details, etc., to satisfy their demands. This stage happens before, during, and after your users take purchasing actions.

Customer care not only helps customers but, in fact, is a great way to build your business reputation and professionalism. Your company can improve sales revenue and possess more extensive loyal fans by doing it correctly.

Currently, intensive efforts and resources are put into this activity to achieve the two growing goals we discussed.

Now, let’s observe four popular ways to take care of your customers and learn the best tips to do this properly in the below section.

Four popular ways of customer care

Direct customer care

Meeting with the customer directly and giving them proper consulting is traditional, but the benefits are undeniable. When the customers get the consultation in person, they will feel comfortable and start to trust the company. 

At the same time, the consultants can also quickly understand the customer’s demands and their hidden problems and eventually offer them the best solutions. 

An excellent way to do this is to organize a customer’s meeting day to take care of the existing ones and attract new audiences. Besides, this can also help your company raise its reputation by giving professional consultation. 

Tele customer care 

Another traditional approach is giving your customer a hotline number, so your company supporting clerk can discuss with them in time. Because telephone calling is very convenient nowadays, we can do this anywhere, anytime.

Customer care with SMS and email support

Another popular way for your company to consider is using email or SMS in responding and supporting your customers. Although this way is convenient, it does not guarantee that your customer’s problems can be resolved timely.

Educational resources for customer support

Thanks to its convenience and feasibility, numerous businesses are now opting for this method. The customers can seek research information whenever they want at their preferred time zone, as long as they have an internet connection. 

The resources also combine with AI to assist them in finding the best solution proactively. However, this automatic method can’t tell us whether the customers are pleased with the company’s products and services or not.

So, what skill sets a great customer consultant should have?

Four vital skills to take care of your customer.

Your customer support staff should have different skills to get your customer the highest satisfaction and maximize business benefits.

Communication skills

Excellent communication helps both parties feel comfortable and willing to share the problem. As a result, your customers will be incredibly impressed and satisfied when getting the consultation.

Skillful and quick response

Many approaches can handle each customer problem. A successful customer supporter can point out what approach is appropriate and resolve the issue tactfully.

Insight understanding of company’s products and services

Understanding every angle about the company products or service will help the whole supporting process faster and easier and give a good impression in the customer’s mind.

Sympathy and Persistency are critical to deal with the human problem

Sometimes, actively listening is not enough, but sympathy with the customer’s pain will be the key to solving the problem.

Every customer should be treated properly, depending on their personality, to maximize the consulting efficiency. Grasping their emotional feelings and choosing a suitable style to address their problem will eventually get their satisfaction.

So, how can the customer consultant do the job efficiently with the above skill sets?

Four steps to get the customer’s heart

Having the mentioned skill sets are just the beginning. The following vital thing is creating a professional customer care procedure and training your staff. Here are the core principles that help your customer department be a star in your customer’s eyes.

Always control personal mood in any situation.

Embarrassing situations are unavoidable when solving people’s problems. However, a professional consultant will know how to control his tension, maintain positivity, and be open to any challenge in any circumstance. Positivity is critical as it helps resolve any problem without causing any hassle for both sides.

Proactively contact the customers.

With loyal fans, it is necessary to proactively reach them to introduce new products, services, or the most recent promotion campaign. This tactic will make your customers feel close to your company. However, it’s prudent to apply to the right audiences appropriately to avoid reverse effects.

Respect the customers

More than just behaving with dignity and respect, always make your customers feel that they are important and meaningful to your business.

Always acknowledge customer feedback.

It’s not just about making your customers feel comfortable and respected. Sometimes this feedback can possibly come from the company’s shortcomings. By listening to and taking note of those opinions, businesses can ultimately improve the quality of their products and services and increase their revenue!

The importance of customer care to business revenue performance

The ultimate goal of every activity a company does is to drive revenue. Customer care is no exception.

A business with excellent customer care can outrank other competitors on the market.

For example, many teeth braces services nowadays produce similar quality and price. So what will be the factors that help you stand out?

A possible answer lies in after-sales service! Today, consumers not only appreciate the quality but the service experience is also important because many users use it as a core criterion to choose the product or service.

When taking care of the customer properly, the first visible effect is that the growing number of customers increases gradually. Nevertheless, this also helps businesses build a loyal customer base, creating a stable revenue stream.

Customer satisfaction is an essential factor to help grow your business and stand out among many on the market. Caring for customers is a relatively stressful job and requires many skills and knowledge, but word-of-mouth marketing always starts from your customer satisfaction.

Hopefully, Jenfi can provide you with valuable tips to enhance your customer service quality and eventually apply these tips to get more revenue with minimal cost!