Importance Of Digital Marketing For Business

Every business is trying to keep up with the current market trend and technology by expanding its business and services to all those who are in need of them. Even though many steps are being taken by the businesses, their reach mostly remains within local reach of their establishment. To reach to more areas and for expansion, the marketing teams of the businesses tend to move to the digital platform and channels for recognition and for sales. These businesses are using many digital marketing techniques and tools for their survival, for competition and also for business growth.

Most of the small and medium scale businesses are changing their business models to an online one to keep up with the evolution of modern technology using various digital marketing strategies. Digital marketing is the use of various digital tactics and channels to connect with the customers who spend most of their time online i.e. the internet. The most commonly used digital marketing tactics and channels are mentioned below:

• Content Marketing (Through blogs, eBooks, Infographics)

• Social Media Marketing (Facebook, Twitter, Instagram, LinkedIn, Pinterest, etc.)

• Search Engine Optimization (Optimizing business website ranking)

• Pay Per Click (Paid ads on social media)

• Affiliate Marketing (Promoting others’ products or services)

• Email Marketing (Running Email Campaign about business products or services)

• Online Public Relations (online coverage with digital publications, blogs, etc.)

By using digital marketing channels, many businesses target new customers and expand according to their goals and objectives. There are many reasons to know the importance of digital marketing for business and some of them are mentioned below:

• Creating growth options for small and medium businesses

• Trending the businesses in the social media platform for expansion and targeting new customers

• Customers preferring businesses reach them on a personal level

• Easy to adapt and market when compared to traditional marketing

• Can get good suggestions directly from customers for improvement

• Creating trust between the business brand and the customers through personalization

• Aligns with how customers shop today i.e. through online

• Can support customers directly and build rapport with them

• Better Return of Investment through digital marketing

• Digital marketing is cost-effective and potential to earn higher revenues

Businesses in the current trend and economy need digital marketing strategies and channels for both competitions and for expansion to reach customer both locally and globally. Digital Marketing with correct strategies and techniques may attract more traffic delivers results accordingly. Digital Marketing is all about targeting the right kind of people that delivers the right kind of results so that one can ensure the survival for their business

Scrutinysoft Due Diligence Services

Due Diligence is the research and analysis process that is actually done before an acquisition, investment, business partnership or bank loan takes place in order to determine the value of the business or company of the due diligence or whether there are any major issues or potential issues related to the same. Due diligence is a legal investigation done to confirm that an investment or purchase of a business is beneficial to the buyer. It can be an exhaustive, tedious process with multiple timelines and intricacies, depending on the complexity of the merger or acquisition.

The due diligence is one of the lengthy processes in the Merger and Acquisition deals. The process of due diligence is something which the buyer conducts to confirm the accuracy of the seller’s claims. The due diligence involved in a potential M&A involves several types. They are mentioned below:

• Administrative Due Diligence is the process of due diligence involving the verification of admin-related items such as facilities, occupancy rate, number of workstations, etc. Administrative due diligence is to verify the various facilities owned or occupied by the seller and determine whether all operational costs are captured in the financials or not.

• Financial Due Diligence is an important type of due diligence that seeks the verification of whether the financials showcased in the Confidentiality Information Memorandum (CIM) of the company is accurate or not. The financial due diligence process also involves analysis of major customer accounts, fixed and variable cost analysis, analysis of profit margins, and examination of internal control procedures. Financial DD additionally examines the company’s order book and sales pipeline, in order to create more accurate projections.

• Asset due diligence reports typically include a detailed schedule of fixed assets and their locations, all lease agreements for equipment, a schedule of sales and purchases of major capital equipment during the last three to five years, real estate deeds, mortgages, title policies, and use permits.

• Human resources due diligence involves the analysis of total employees, including current positions, vacancies, due for retirement, and serving the notice period. It also involves the analysis of their current salaries, bonuses paid during the last three years, and years of service.

• Tax Liability Due diligence includes a review of all taxes the company is required to pay and ensuring their proper calculation with no intention of under-reporting of taxes. Documentation of tax compliance and potential issues typically includes verification and review of copies of all tax returns – including income tax, withholding, and sales tax – for the past three to five years along with the Information relating to any past or pending tax audits of the company.

• Intellectual Property Due Diligence is the process of assessing the intellectual property assets of a company. Most companies have intellectual property assets that they can use to monetize their business. These intangible assets are something that differentiates their product and service from their competitors and may often comprise some of the company’s most valuable assets. These include a schedule of patents and patent applications; schedule of copyrights, trademarks, and brand names; Pending patents clearance documents.

• Legal due diligence is, of course, extremely important and typically includes examination and review of copy of memorandum and articles of association; minutes of board meetings for the last three years; minutes of board meetings for the last three years; copy of share certificates issued to Key Management Personnel; copy of all guarantees to which the company is a party; licensing or franchise agreements; copies of all loan agreements, bank financing agreements, and lines of credit to which company is a party.

Scrutinysoft has a dedicated due diligence team that can assist the clients with financial, tax, legal, environmental due diligence and business analysis for organizations that are contemplating investments, strategic partnerships, mergers, and acquisitions.

Challenges Faced By Startup Companies

Becoming an Entrepreneur is a dream for many people in the world. But in order to start a new company, he/she need many factors like money, time, endurance, sacrifice and a lot of effort. The driving force and penetration of the startups are due to the large population of the middle-income group, educated people with technical background, IT domination, high internet, and mobile penetration. Infrastructure, government regulations and the availability of finance at various stages of growth could be some of the challenges for startups. Some startup companies use the fund properly and rise up to shine while some fail to keep up with the market and eventually fail towards the end. The below factors mainly contribute to the rise of a startup company.

Financing

No entrepreneur going into business does so with a plan to fail, but inadequate access to working capital and other financing options is a huge contributor to a business’s lack of success and ultimate failure. Many factors go into a business owner’s lack of working capital, from a low credit score and inability to borrow from traditional financing sources to operational issues affecting cash flow. It is important for a business owner to understand the root of the problem with respect to the lack of financial capability and alternatives to traditional funding, including working capital loans.

Marketing

A startup may definitely suffer if they don’t have sufficient information and knowledge about the marketing systems. Effective marketing doesn’t cost a lot of money to startup entrepreneurs. Higher-budget marketing strategies might bring more visibility and consistency in their eventual returns, but there are plenty of highly effective, low-cost marketing strategies one can use to help their startup grow. Some are mentioned below:

Content Marketing

Referrals

Press Release & News

SEO

Social Media Marketing

Email Marketing

Forums & Groups

Personal Branding

Guidance or Mentoring

One of the main reasons for the failure of startups is the lack of experience and competency of new entrepreneurs. Entrepreneurial mentoring can be viewed as a business development process for owners/managers. This is based on the premise that there is a direct link between entrepreneurs’ actions and capabilities and the performance of their businesses. A good mentorship can amplify an entrepreneur’s chances of success in life and in business alike. The valuable connections, timely advice, occasional checks, and their supervision will provide more spiritual and moral guidance to the entrepreneurs. So, undergoing a mentorship program can help the entrepreneurs gain a valuable jumpstart towards success.

Correct Team

It’s important that the team that has been recruited for the startup must be united with a common vision and has agreed upon the startup’s long-term goals so that everyone remains on the same page as the startup grows. The investors of the startup need to feel confident that the team the entrepreneur hired is the right one to take the company from a small, great idea and turn it into a high-yielding investment. The goal here is to convince an investor or financier that the hired team is prepared to face all the challenges and criticisms that come with running a business.

A startup company has to face many initial challenges in order to stabilize and operate under optimum conditions. The success of the startup company entirely depends on the entrepreneur along with their goal and vision for the business.