Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The year 2020 was a more eventful one than we all imagined. The way business is done has changed drastically and so is marketing as more entrepreneurs have started working remotely. Keeping track of competitive marketing trends is a critical thing to do business now.
It has become certain that the COVID-19 pandemic will continue to change marketing trends and business preferences in the year ahead. In this article, entrepreneurs share some important things to remember while creating a marketing strategy for the new year.
Take advantage of every possible income stream available: Max Krupyshev
During times of financial uncertainty, businesses and individuals need to take advantage of every income stream available. Such active engagement will lead to broader cryptocurrency adoption and an elaborate approach to a decentralized financial system. CoinsPaid is a global payment ecosystem that continues to pursue its revenue rise. The key to their approach is to allow clients to get involved in crypto payments and reach new markets by empowering companies with reliable cryptocurrency processing gateway.
The success of CoinsPaid is a result of the immense contribution and crypto expertise of CoinsPaid CEO Max Krupyshev and his team. As a founder of "Bitcoin Foundation Ukraine" and a part of "Blockchain Working Group," Max Krupyshev sets a clear guideline on boosting global cryptocurrency adoption and highlights its benefits.
Cryptoprocessing by CoinsPaid is currently leading the iGaming industry. Nonetheless, the company sees no barriers to further development and now tackles the new sector of e-commerce for cryptoprocessing.com.
Leverage on niches with untapped potential: Robert Weir
It’s a common fact that niches become too saturated or competing. Adapting to new industries with great potential would be a smart thing to do in 2021. Trending technologies such as blockchain still offer a lot of room for growth. “We followed the same strategy. Ethlink is an exciting solution, as it leverages the automation-oriented capabilities of the blockchain with its native transparency. It also connects to any Ethereum wallet, which will make it a pretty big part of the Ethereum ecosystem in the future. Anyone passionate about token sales or DeFi will want to embrace this technology to gain a competitive edge. Ethlink also goes well below cryptocurrency, as it can prove beneficial to all e-commerce platforms,” explains Weir.
Ethlink is a different breed as it goes beyond "traditional" affiliate marketing. It serves as an automated VLM (viral looping model) sales and marketing tool as well. Promoters and influencers can receive rewards directly without relying on intermediaries. Moreover, new users can create their decentralized affiliate link to receive the same type of real-time rewards. Ranging from liquidity pools to token sales, Ethlink is a valuable brand-building tool.
Take good care of your brand’s online reputation: Maitham Hubail
“We all know negative feedback isn’t good for any brand and a brand can be affected by angry customers taking to their platforms to share negative experiences and poor online reviews. Brands are expected to be cautious in every aspect of the business, behaviour across social channels, and the company's integrity means an action of climate change.” explains Maitham Hubail, a renowned name in Bahrain's digital marketing world. His platform @askbahrain works in the online marketing sector and is Bahrain’s leading Q&A platform.
In addition, brand identity means external stories that are derived from internal choices, carefully presented with the quality of being honest, and a consistent moral code. Otherwise, you risk brand recognition for all the wrong reasons. “The biggest takeaway from my experience is never to take anything for granted and to always be on top, and even ahead, of developments as the online world is different and things change rapidly.” adds Hubail.
Build a strong, skilled team that likes to have fun: Ronnie Flynn
Creating a fun team environment is key in getting results in marketing because the better teammates work and optimize, the better they can optimize for their clients. Ronnie Flynn, CEO of Vuuzle media runs a world class marketing team but he says they get their best work done when they’re having fun.
“Building a successful marketing team is about finding a group of people with the right mix of professional skills who like to laugh and play. Bottom line, humor keeps things in perspective, helps dispel negative emotions, and puts the Vuuzle marketing team in a frame of mind that helps them better cope with the day to day situations of film and television.”
It’s clear that as marketing teams start to work remotely on distributed teams, an interpersonal environment that values fun will optimize productivity and thus should become a consideration for marketing leaders in a time where mental health has never been so important.
Add cross-platform marketing: Thomas Herbst
With every new year, more new devices are introduced. One must take the necessary steps to reach out to the audience regardless of the device they use in order to keep a seamless interaction with the customers. “Using email, SMS, streaming video ads, web ads and non-digital media give your business the level of interaction necessary to build your brand” says founder of Cryptoast Thomas Herbst.
The primary goal of marketing has always been the same: getting more audience and keeping their attention. The only changes are where the attention goes, and that’s what you need to be leveraging.
Read Now | The 5 Best Payroll Options for Small Businesses
Want to know how to cut costs and time spent on fixing payroll errors? In this article, Jared Hecht, the cofounder and CEO of Fundera, lists five services that will help you manage your small business’s payroll system.
Read Article >>