Bangladesh Trade Center

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  • Top 10 Digital Marketing Services for SME & Large Businesses [P-2]

    Top 10 Digital Marketing Services for SME & Large Businesses [P-2]

    Top 10 Digital Marketing Services for SME & Large Businesses [P-2]

     

    Md. Joynal Abdin, BBA (Hons.), MBA

    Founder & CEO, Trade & Investment Bangladesh

     

    Top 10 Digital Marketing Services for Medium Businesses:

    Medium-sized businesses, with a budget ranging from USD 1000 to 5000, can adopt a more comprehensive digital marketing approach to achieve their goals. Here are the top 10 digital marketing services (marketing mix) tailored for medium businesses within this budget range:

    • Search Engine Optimization (SEO): Invest in robust SEO strategies to improve organic visibility. Optimize your website’s structure, content, and meta tags, and work on building high-quality backlinks. Medium businesses can afford to outsource SEO services or invest in advanced SEO tools.

     

    • Content Marketing: Develop a content marketing strategy that includes regular blog posts, articles, videos, and infographics. Medium businesses can create high-quality content in-house or collaborate with freelance writers and content creators.

     

    • Social Media Marketing: Allocate budget for paid advertising on social platforms like Facebook, Instagram, and LinkedIn. Run targeted ad campaigns to increase brand awareness, engagement, and website traffic. You can also invest in social media management tools for efficiency.

     

    • Email Marketing: Implement an email marketing platform to automate and manage email campaigns effectively. Segment your email list, create personalized content, and send out newsletters, promotions, and updates to engage with your audience.

     

    • Pay-Per-Click (PPC) Advertising: Medium businesses can take advantage of PPC advertising to reach a broader audience. Invest in Google Ads, Bing Ads, or social media advertising platforms. Carefully choose keywords and optimize ad campaigns for better ROI.

     

    • Conversion Rate Optimization (CRO): Allocate resources to analyze website data, identify bottlenecks in the conversion funnel, and optimize the user experience. Medium businesses can A/B test landing pages and content to improve conversion rates.

     

    • Social Media Management: Invest in tools that streamline social media management and reporting. These tools can help schedule posts, monitor engagement, and measure performance across various platforms.

     

    • Video Marketing: Create high-quality video content to showcase your products or services. Invest in video editing software and equipment to produce professional videos. Platforms like YouTube can be particularly effective for video marketing.

     

    • Analytics and Data Insights: Implement advanced analytics tools to gain deeper insights into user behavior, demographics, and conversion patterns. This data-driven approach helps medium businesses refine their strategies for better results.

     

    • Affiliate Marketing: Consider setting up an affiliate marketing program to expand your reach. Collaborate with affiliates or influencers who promote your products or services in exchange for a commission. Invest in affiliate tracking software to manage these partnerships efficiently.

     

    Medium-sized businesses should also prioritize a well-integrated approach, combining these services cohesively. Regularly assess your performance metrics to optimize your strategy. Medium businesses can often explore multiple channels, but it’s crucial to maintain a balance between cost-effectiveness and reaching a wider audience within the given budget. Additionally, investing in the training and development of your in-house marketing team can be a strategic use of your budget to ensure long-term success.

     

    Top 10 Digital Marketing Services for SME & Large Businesses [P-2]
    Digital Marketing Services

     

    Top 10 Digital Marketing Services for Large Businesses:

    Large businesses with more extensive budgets have the means to employ a comprehensive digital marketing strategy that can yield significant results. Here are the top 10 digital marketing services (marketing mix) tailored for large businesses with a budget exceeding USD 5000:

    1. Search Engine Optimization (SEO): Large businesses can invest in a robust and ongoing SEO strategy. This includes optimizing website content, technical SEO, and conducting in-depth keyword research. Consider hiring an experienced SEO agency or building an in-house team.

     

    1. Content Marketing: Develop a diverse and high-quality content marketing strategy. Large businesses can produce a wide range of content, including blog posts, articles, videos, podcasts, and interactive content. Collaborate with content experts and influencers to create engaging material.

     

    1. Social Media Marketing: Allocate substantial resources for social media marketing across multiple platforms. Run both organic and paid campaigns on platforms like Facebook, Instagram, Twitter, LinkedIn, and Pinterest to engage with a broad audience and improve brand visibility.

     

    1. Email Marketing: Implement advanced email marketing automation tools to segment your audience and send personalized content. Large businesses can execute sophisticated email campaigns, including drip marketing, lead nurturing, and behavioral triggers.

     

    1. Pay-Per-Click (PPC) Advertising: Large businesses can invest significantly in PPC advertising on platforms like Google Ads, Bing Ads, and social media. Utilize advanced targeting options and A/B testing for better ad performance. Allocate budget for remarketing campaigns to recapture leads and customers.

     

    1. Conversion Rate Optimization (CRO): Invest in comprehensive CRO efforts. Run A/B tests, analyze heatmaps, and use advanced CRO tools to optimize landing pages and the user experience. Prioritize continual improvement based on data-driven insights.

     

    1. Social Media Management: Employ advanced social media management tools to schedule posts, monitor brand mentions, and analyze performance across various social platforms. Large businesses can engage in real-time social listening and sentiment analysis to make informed decisions.

     

    1. Video Marketing: Create high-quality and engaging video content, including tutorials, product demos, webinars, and web series. Invest in professional video production equipment, editors, and studios to produce top-tier videos for platforms like YouTube, Vimeo, and social media.

     

    1. Data Analytics and Insights: Implement advanced data analytics tools to gain in-depth insights into customer behavior, demographics, and conversion paths. Use predictive analytics to make data-driven predictions and optimize marketing strategies accordingly.

     

    1. Marketing Automation: Large businesses can benefit from marketing automation platforms to streamline and scale marketing efforts. Automate lead nurturing, customer segmentation, and behavior-based triggers for a personalized customer journey.

     

    Additionally, large businesses should focus on integrated marketing communications and ensure consistency in messaging and branding across all channels. Collaboration between various teams, such as marketing, sales, and customer service, is essential for a unified customer experience.

     

    With a larger budget, consider investing in advanced technologies, such as artificial intelligence (AI) and machine learning tools, to further enhance your marketing efforts. Monitor and analyze key performance indicators (KPIs) regularly to adapt your strategy and ensure a high return on investment. Large businesses have the capacity to build robust in-house teams or partner with specialized agencies to execute these advanced digital marketing services effectively.

     

    Business Mentorship
    Business Mentorship

     

    Choosing the Right Mix:

    Selecting the most suitable digital marketing services for your business involves a thoughtful and strategic approach. Here’s a step-by-step guide to help you make the right choices:

    • Define Your Goals: Start by clearly outlining your business objectives. Are you looking to increase brand awareness, generate leads, boost sales, or something else? Identifying your goals will guide your digital marketing strategy.

     

    • Know Your Audience: Understand your target audience’s preferences, behaviors, and demographics. Tailoring your digital marketing services to your audience ensures your efforts are effective.

     

    • Assess Your Budget: Determine how much you can allocate to digital marketing. Your budget will influence which services you can afford. Prioritize services that provide the best ROI within your budget.

     

    • Understand Your Industry: Research your industry to discover which digital marketing strategies work best. Consider what your competitors are doing and what sets your business apart.

     

    • Choose the Right Mix: Select a mix of digital marketing services that align with your goals and budget. For instance, if lead generation is a priority, invest in SEO, PPC advertising, and content marketing.

     

    • Prioritize Your Website: Your website is the foundation of your online presence. Ensure it’s user-friendly, mobile-responsive, and optimized for search engines. It should be the centerpiece of your digital marketing strategy.

     

    • Content is Key: Content marketing is vital. High-quality, valuable content engages your audience, builds trust, and supports your SEO efforts. Invest in creating informative, relevant, and shareable content.

     

    • Harness Social Media: Determine which social media platforms your audience frequents and create a presence on those platforms. Share regular updates, engage with your audience, and consider paid advertising for broader reach.

     

    • Email Marketing: If building a subscriber list is a goal, implement email marketing. Send personalized content and promotions to your subscribers, and use automation to nurture leads.

     

    • Analytics and Optimization: Utilize analytics tools to track performance. Regularly review data and adjust your strategy based on what works best. This data-driven approach ensures your efforts are continuously optimized.

     

    • Consider Outsourcing: Depending on your budget and expertise, you may want to consider outsourcing certain services to agencies or freelancers. Expert assistance can be valuable for services like SEO or PPC.

     

    • Stay Informed: Digital marketing is ever-evolving. Stay updated on industry trends and emerging technologies. Adapt your strategy to incorporate new and innovative techniques.

     

    • Monitor Competitors: Keep an eye on your competitors’ digital marketing efforts. Learn from their successes and mistakes to refine your own strategy.

     

    • Test and Iterate: Don’t be afraid to experiment. Test different strategies and assess their performance. Over time, refine your digital marketing mix to ensure it aligns with your goals and delivers the best results.

     

    By following these steps and regularly evaluating your digital marketing strategy, you can choose the most suitable services that align with your business objectives, budget, and audience to achieve sustainable success in the digital landscape.

     

    digital marketing
    Business Consultant & Digital Marketer

     

    Budget Considerations:

    Budget constraints play a pivotal role in shaping digital marketing decisions. They can impact various aspects of the strategy:

    • Service Selection: Limited budgets may restrict the range of digital marketing services a business can employ. Businesses may need to prioritize services that offer the most cost-effective and immediate benefits.

     

    • Advertising Reach: Budget constraints can limit the reach of paid advertising campaigns, affecting the number of potential customers a business can target. Businesses may need to focus on highly targeted audiences or consider more cost-efficient channels.

     

    • Content Quality: Tight budgets can impact content quality. While content marketing is crucial, businesses with limited budgets may need to allocate resources judiciously to maintain a balance between quality and quantity.

     

    • Frequency and Consistency: Limited budgets can result in less frequent content updates and social media activity, affecting engagement and brand visibility.

     

    • Analytics and Tools: Smaller budgets may restrict access to advanced analytics tools, hindering data-driven decision-making and optimization.

     

    Navigating these constraints requires a strategic approach, emphasizing cost-efficiency, clear goal alignment, and prioritization to maximize ROI within the available budget.

     

    Conclusion:

    Tailored digital marketing is the key to business success in the digital age. It means aligning your strategies with specific business objectives, target audiences, and budgets. By customizing your approach, you maximize effectiveness and efficiency. The importance lies in reaching the right people with the right message, at the right time. Whether you’re a small, medium, or large business, tailoring your digital marketing ensures that your resources are utilized effectively, and your efforts yield the highest possible return on investment. It’s the pathway to brand growth, customer engagement, and long-term competitiveness in the ever-evolving digital landscape.

     

    To read 1st part of this article, click here!

     

    Top 10 Digital Marketing Services for SME & Large Businesses [P-2]: Top 10 Digital Marketing Services for SME & Large Businesses [P-2]
    business consultant
    Md. Joynal Abdin

    Mr. Md. Joynal Abdin is a Business Consultant & Digital Marketer based in Dhaka, Bangladesh. He is Founder & CEO of Trade & Investment Bangladesh, one of the leading Business Consultancy Firm in Bangladesh. He is also Co-Founder & CEO of Bangladesh Trade Center. Previously he served at Dhaka Chamber of Commerce & Industry (DCCI) as Executive Secretary; DCCI Business Institute (DBI) as Executive Director; SME Foundation as Deputy Manager; and the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) as Assistant Secretary.

     

    The list of services Mr. Abdin is offering includes but not limited to Business Mentorship, Business Research and Documentations like Feasibility Study, Project Proposal Preparation, Writing Business Manual, Standard Operating Procedures etc.; Export Market Selection and Product Positioning at Home and Abroad; Buyers-Sellers Matchmaking; Website Development; Search Engine Optimization (SEO); and Social Media Marketing etc.

     

    Top 10 Digital Marketing Services for SME & Large Businesses [P-2]: Top 10 Digital Marketing Services for SME & Large Businesses [P-2]

    Developing Bangladesh     Trade & Investment Bangladesh      Business Consultant        Read more…

  • Top 10 Recommendations for Promoting Business

    Top 10 Recommendations for Promoting Business

    Previous policy reforms for promoting business: 

     

    Before recommending the top 10 recommendations for promoting business let’s try to know when the policy reforms started to make a congenial business environment or promote businesses. The 1990s saw major changes in the global economic environment. Developing countries are taking various rapid steps to integrate their economies into global markets. Developing economies in Asia, especially those in the eastern and southeastern regions, are liberalizing their trading regimes and moving towards trade-oriented policies through the liberalization of foreign direct investment (FDI) policies. It also opens the stock and bond markets to foreign investors.

    The incentive framework for private manufacturing has changed to build a market-oriented economy that caters to the global market. As a result, Bangladesh today enjoys a more or less stable macroeconomic situation. Domestic savings have increased, investment has increased, resources have been used more efficiently, and progress has been made in various areas, including human resource development.

    Bangladesh has tried to speed up the development process. The government has designed and implemented various policy reforms to create a more open and competitive environment for foreign direct investment. Considerable reforms and policy changes have been made in recent years to promote a favorable atmosphere for foreign direct investment in Bangladesh. Private investment from foreign sources is welcome in all sectors except four strategic industries which are reserved for the public sector only.

    (1) Weapons, ammunition, and other defense equipment and machinery; (2) nuclear power. (3) Replanting and mechanical logging within the boundaries of protected forests; (4) Security printing and embossing of banknotes. The Foreign Private Investment (Encouragement and Protection) Act 1980 was passed, providing legal protection for foreign investment from nationalization and expropriation. It also guarantees the repatriation of capital and dividends. Deal fairly with local investors about compensation, indemnification, reimbursement, or other claims made against their investments. The government has bilateral agreements with 26 of her countries to avoid double taxation, and negotiations are underway with 23 of them.

    Investment treaties to promote and protect investments have been signed between Bangladesh with 20 countries, and negotiations are underway with nine other countries.

    The government has already passed bankruptcy laws. A judicial commission was established to identify anomalies and weaknesses in the existing laws and legal system. One of the commission’s main tasks is to update existing trade, trade, and business laws. All of these are designed to improve the overall business climate, together with the environment for foreign direct investment. Efforts are being made to reform the bureaucracy to make it more efficient and to support the influx of foreign direct investment and better services for economic development-oriented activities. Update the laws governing the financial sector. Significant changes have been made to facilitate the flow of foreign direct investment into Bangladesh, the Companies Act 1994 and the Labor Act 2006 were enacted.

    Top 10 Recommendations for Promoting Business
    Top 10 Recommendations for Promoting Business
    Top 10 Recommendations for Promoting Business

    Several EPZs were established in Chittagong, Dhaka, and Khulna in 1980 under the Bangladesh Export Processing Zones Authority (BEPZA) to improve the environment for foreign private investment and foreign direct investment. The Private Export Processing Zones (PEPZ) Act was also enacted to encourage the establishment of “Private Export Processing Zones” by domestic and foreign investors. These EPZs are fully equipped with the necessary infrastructure facilities and are fully protected from law and order issues.

     

    BEPZA approves all projects to be placed in EPZs and provides “One window same day service” to EPZ investors. The government also approved the Private Power Generation Policy of 1996, allowing tax exemption on company income for 15 years from the date of commercial production.

    The government announced a strategy to reduce effective protections in the medium term to make import liberalization and industry deregulation more effective, and continued efforts to reduce and simplify tariffs, It has taken several steps, including announcing a clear tariff plan and developing an action plan on legal action. Develop a blueprint for reform and deregulation, and an action plan to implement the export development strategy. These efforts have improved the investment climate in Bangladesh.

    In some countries, democracy creates an environment conducive to investment. Therefore, the most important determinant of investment in a country today is ‘democracy’. According to the IMF, the other five determinants are (1) good governance, (2) macroeconomic stability, (3) openness to the global economy, (4) investment quality, and (5)) workforce skills.

    In addition, Bangladesh has other determinants to promote its investment climate. (1) Low cost and abundant labor (2) domestic growth market (3) political stability (4) well-developed capital market.

     

    Top 10 Recommendations for Promoting Business

    Existing Business Ecosystem in Bangladesh:

    Bangladesh offers an investment-friendly environment compared to other South Asian countries. Here are some salient features:

     A largely homogenous society with no major internal or external tensions Bangladesh has a population that is highly resilient to adversity.
     The people of Bangladesh, a liberal democracy, have lived peacefully for many years regardless of race or religion.
     Bangladesh enjoys broad bipartisan political support for market-oriented reforms and offers the most investor-friendly regulatory regime in South Asia.
     The country has a large trainable, enthusiastic, hard-working, low-cost workforce suitable for labor-intensive industries.

     As a bridge between ASEAN and her SAARC countries, Bangladesh’s geographical position is ideal for global trade with highly convenient access to international sea and air routes.
     Bangladesh is rich in natural gas, coal, water, and very fertile soils.
     Bangla is the official language. English is widely used as a second language.
     All Bangladeshi products, except weapons, enjoy full tariff- and quota-free access to the EU, Japan, Canada, Australia, Norway, and most developed countries. However, for garment exports to the United States, Bangladesh has a quota system that ended on 1 January 2005.
     Export earnings continue to increase.

    Top 10 Recommendations for Promoting Business
    Top 10 Recommendations for Promoting Business
    Top 10 Recommendations for Promoting Business

    The situation for foreign investment has generally been good since the independence of Bangladesh. The government has passed various policy reforms to create a conducive atmosphere for investment. However, government-decided investment initiatives are inappropriate and sometimes inappropriate for various reasons such as lack of proper governance, lack of law, and order/political instability.

     

    The government has developed and implemented different policies to create a more open and competitive environment for foreign direct investment. Sectors, such as energy and power, coal, and solar energy. Telecommunications and ICT, and lighting technology may attract foreign investment.

     

    Telecommunications and ICT, pharmaceutical raw material production and herbal medicine, lighting, education and energy and power, coal, and solar energy are the preferred sectors for investment in Bangladesh. The private manufacturing incentive framework is tailored to build a market-oriented economy that caters to the global market. As a result, Bangladesh has maintained a stable macroeconomic situation despite the global economic crisis.

     

    Agriculture is the most important sector for Bangladesh. The country earns significant foreign exchange from the export of agricultural products and agro-processed products. We need to increase investment in seeds and other agricultural inputs to boost production and help countries solve their food import problems.

     

    Education is the backbone of the nation and primary education is the backbone of the education system. Investment in education should be increased to 3% of GDP. It is necessary to expand the scope of the introduction and utilization of ICT. User-friendly investment in ICT helps people to use ICT for economic development.

     

    Investment in infrastructure, especially in the railway sector, is significantly inadequate compared to the needs of Bangladesh’s transport system. We should invest more in this area.

    Land ports play an important role in regional trade. Investments in land ports are aimed at minimizing operating costs for regional trade.

     

    Electricity is the most important component of the national economy. Investments in power, gas, and related sectors must be made so that electricity can be produced in the shortest possible time. Research into the use of renewable energy, such as solar power and biomass, can solve all power generation problems.

     

    Counseling / Consulting is not well developed in Bangladesh. Young talents do not dare to make a career in consulting. The country’s consulting industry has become dependent on foreign consultants. Developing the consulting sector in Bangladesh requires pursuing a pragmatic approach through appropriate investments.

    Overall, the country is very weak in research and development activities. Funds should be invested through appropriate organizations to expand the domestic research base.

    Top 10 Recommendations for Promoting Business: Top 10 Recommendations for Promoting Business

    Top 10 recommendations for Promoting businesses:

    1. Electricity demand will continue to grow. Installed power generation capacity must be managed efficiently.

    2. Bangladesh suffers greatly from a shortage of skilled labor. Support can be extended to industrial enterprises to develop the skills of technical workers through on-the-job training.

    3. Farmers need support to develop their entrepreneurial skills, which can contribute to national anti-poverty strategies.

    4. Animal husbandry plays an important role in the economic activities of Bangladesh. The fisheries subsector generates significant foreign exchange income from exports. More support is likely to boost exports to sustain sector growth.

    5. Infrastructure is a key sector to attract foreign investment. The most important infrastructure support should be in import and export activities at ports. Customs procedures should be simplified. Bangladesh’s railway capacity needs to increase to make international trade cheaper in the future.

    6. There are many development projects in the field of education. It is necessary to improve the management capacity of sectoral projects.

    7. Telecommunications and ICT are two interrelated sub-sectors that influence modern life. Steps should be taken to simplify business in these two subsectors.

    8. Bangladesh has become an exporter of medicines. Large companies use vegetable raw materials. The sector should support research and development through liaison with the Bangladesh Scientific and Industrial Research Council.

    9. The Business Consulting profession is underdeveloped in this country. Business Consultants should be developed through training.

    10. People’s health care is still inadequate. Investing in hospitals and medical facilities has multiple benefits for the beneficiaries and the national economy.

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    Top 10 Recommendations for Promoting Business: Top 10 Recommendations for Promoting Business