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Let me tell you what Upstox is all about. Also, how I would implement a strategy to make it better.

It is a digital platform enabling tech-savvy users like you and me to easily invest in a variety of instruments. This includes everything from mutual funds to futures & options to digital gold.

Now, let’s analyse few aspects where this start-up is doing really good.

They are trying to differentiate themselves from the competitors out there.

I specifically like the digital gold option. Why? it is a new concept and unique product offering by Upstox, maybe you can call it a differentiating factor.

Also, Upstox design team is really doing a fantastic job. You can feel it from their website design to the content they post on Instagram. They have some mindful creatives working hard on their design aspects. I was just going through their website and their offerings, needless to say, it was all neatly mapped out. The whole experience was just smooth.

Let’s see 3 areas where they can do a lot better.

Customer Relations

The first thing I noticed was this, many of their customers regret signing up.

This trend is so evident everywhere, from their social media handles to their online reviews.

The major reason for this pattern is poor customer relations. Customers queuing up on social media handles to get their queries resolved, partners lining up in their social media to get their referral bonuses even after the stipulated time period.

The whole thing is a mess. The customer care team might be doing a good job, but the customer relations strategy has to be improved.

Businesses who values their customers, gains ultimately

Now, I would say customer engagement is essential. But customers queuing up wherever you are, just to get their queries answered is clearly an indication that the customer relations team can do much better.

Social Media Presentation

The Upstox content creation team is trying to create some great content, but it comes out to be a mix-up.

The social media posts are not getting enough traction, not just their fault. This is the case with almost all businesses out there.

The metrics look really good, like businesses having lakhs of page likes & followers. But, if you check out the content on Facebook and Instagram, the engagement is lesser than 3%. This is true for any business out there, from small to large ones.

The way people perceive a business online matters, specially on social media

I’m not pinpointing the engagement rates here, but the way the social media team moderates the engagement.

For example, if you check out any post on their Facebook page, 90% of the comments are either some kind of a query or partner referral links. The queries should ideally be handled by the customer relations team.

For me, it doesn’t make any sense from a customer/user viewpoint. I’m talking about the referral links here. 99% of people who liked the Upstox page on Facebook will be their customers, so does it really makes sense for a customer to use a signup referral link?

The whole point is to put out the best image of the business online. That takes an all-around approach. But the initial step is to start moderating engagements on the social media handles.

The content a business is posting on social media is important, as new potential customers might be checking your social media

This is important because nowadays we all first check the online reviews and social media engagements before signing up for a service or buying a product. So it makes perfect sense to make your customer relations a top priority which can drive up or down your business.

Ultimately, social reviews represent what customers have experienced.

Online Marketing Strategy

I see some good sparks in their marketing efforts.

The educational content they put out in their marketing strategy is a good initiative. The idea here is to educate and empower people, to become their customers along the way.

Educational content is a way of providing value to the people

They have realized the potential of social media marketing. They run Facebook ads for that matter. Do you want to hear a secret about Facebook ads?

Facebook ads are a beast if used the right way. As a business, if you’re not getting the proclaimed returns from Fb ads, now you know the reason. You can target people of any demography, any relevant behavior, any interest, or any location through Fb ads. This way, you’re able to reach your ideal customers.

Now the question is, are they able to relate to my messaging or the story I tell them. If yes, then Facebook ads are a goldmine for you. If not, you know the answer. That’s why if you just copy what is working for a business, chances are, it might not work for you unless you have the same customer base.

Strategic use of Facebook ads is important to get great results

Upstox can use social media marketing in a much more powerful way, mixing up their educational content with some carefully crafted messaging that resonates with their target audience.

I love the start-ups and businesses that make my life easier and simpler. Upstox is in that niche. I believe most people have this thought when they choose a product/service.

If Upstox can act upon the concerns I listed above, they can spread like a wildfire with the core products they offer. I wish them the best.

We beingplato digital help businesses and brands share their story using the power of Social Media Marketing. If you would like to work with us, shoot us a quick message.

Originally published at beingplato digital

I love the way bajaao.com operates and its services. They have made it extremely affordable for anyone who is passionate about music to practice it.

I have been doing some research and analysis on the marketing strategies of businesses.

I came across bajaao.com, and I highly appreciate the business model and the impact they have on our community.

I’m an early customer of bajaao and loved their concept from start.

One thing they should improve upon is their marketing strategy.

Why would I say that? I have been doing social media marketing for quite some time now and see that bajaao.com is missing out on the incredible potential they have for reaching millions of people.

Sure, they have quite a good number of customers, but the realm of music is something which is enjoyed by a large number of people.

Think about each of our cases. Have you ever thought of playing a guitar/piano after enjoying a soulful piece of music on Youtube? I have thought about this, playing a song on a piano and being immersed in that music. I’m sure, many of you do.

Bajaao is missing out on the emotion of music. I have researched on their digital marketing strategy and could find that, they run ads on their products. Here, they are completely missing out on the potential to market on the emotion of music. Music is one aspect where we could use our creative minds to wander and come up with something that connects with people.

If you want to understand the logic, think about how Nike markets their products. What is their marketing strategy? They market the emotions, not their shoes, clothing. They market the emotions of fighting against the odds, striving for greatness, etc.

What about CocaCola, they do the same.

What about Apple, their entire marketing strategy is based on emotions.

Why did I take the case of bajaao here. There is a very specific reason for that.

Because, they deal with musical instruments, and the potential to create great marketing based on music is just enormous.

There is an enormous number of people out there, who understands and immerse themselves in music, even though they don't play any instrument — There is an enormous number of people out there, who understands and immerse themselves in music, even though they don’t play any instrument

On the contrast, for a brand which is selling washing powder, the potential to do this is kind of limited, but music, it has great possibilities.

Now, coming back to the question. What would I change if I’m the Marketing Strategist for bajaao.com.

I would change the whole idea of marketing best selling products as they currently do.

I would create a strategy where the foundation is possibilities of music and the transformation it creates. And how bajaao is helping in that transformation process.

The main focus would be social media, as people can connect directly with the brand.

My core focus would be to build bajaao as a brand synonymous to music in the Indian market.

My idea is, if one day anyone plans to play any music, the first thing that comes to their mind would be bajaao.

I know that different people have different ideas when it comes to building a brand and marketing a business.

My idea is to market what it stands for, rather than just promoting the products.

And we have enough brands that tells that it is a winning strategy, if applied the right way.

originally published at beingplato.com