Business & AI Articles - Page 8 | YOKESEN

Technological developments have changed customer shopping behavior from offline to online. One of the causes of this is marked by the growth of e-commerce throughout the world which is experiencing a significant increase. So, what is the main reason for this change in consumer behavior from offline to online? The answer is convenience. 

The convenience offered by online shops makes buyers switch shopping to e-commerce, coupled with the current situation where the pandemic is making buyers feel safer. However, apart from the convenience obtained, there are also many factors that cause customers not to use e-commerce, namely risk issues, which are generally related to security in payments, fear of fraud, or quality of goods that does not meet expectations. 

It is no longer surprising if you as a seller really hope that customers will give customer reviews and good assessments of your shop. So, what are online customer reviews and ratings and what impact do they have on potential buyers' interest in the marketplace? Online customer reviews are part of Electronic Word of Mouth (eWOM), which is a direct opinion from someone and not an advertisement. 

Online customer reviews are one of several factors that determine a person's purchasing decision which shows that considering customer reviews as an indicator of product popularity or the value of a product which will influence the buyer's willingness to buy a product. However, it should be noted that more online customer reviews and ratings do not necessarily mean that the product will definitely be purchased by other customers. 

Meanwhile, ratings are part of customer reviews that use the star symbol to express customers' opinions. Ratings can be interpreted as the buyer's assessment of a product's preferences regarding their experience referring to the buyer's psychological and emotional state. 

These two things certainly have a big influence on the interest of other customers before the customer decides to buy a product at your shop.

Every brand must have used marketing strategies to sell its products or services as much as possible. But there are still many brands that let their customers just leave when they have made a purchase.

One important marketing method for maximizing customers in order to achieve sales targets is with the strategic role of CRM (Customer Relationship Management). CRM or Customer Relationship Management is a digital marketing strategy that aims to retain customers who have made purchases or have filled in personal information with the brand.

Building relationships with customers is very necessary for a brand, this is aimed at increasing customer retention value and loyalty. If the role of the CRM strategy has been implemented, there is a possibility that customers can repurchase the products or services that the company offers because they are trusted. The company can further develop and revenue will increase. 

As explained by Deni Indra (2009) that by implementing a CRM strategy in (Medium Enterprises) you can optimize profitability, revenue and customer satisfaction. 

So, are you ready to implement CRM in your business? 

As a businessman, of course you will need to carry out supply chain management to support operational activities. So, what is safety stock and what is its role in the supply chain management system? Safety stock is inventory prepared by a company to prevent inventory shortages when market demand conditions are uncertain. In a trading company system, safety stock is useful for calculating the quantity of a product. For this reason, special calculations are needed so that product inventory can meet customer demand.

Safety stock plays an important role in supply chain management to maximize profits, anticipate fluctuations in market demand and facilitate goods production schedules. As we know, the law of supply and demand is always influenced by market conditions. If market conditions always move dynamically, then companies must implement safety stock so they can anticipate changes in demand and be able to make more profits.

Safety stock is also needed to determine inventory levels appropriately. If there is too much inventory, then the company's cost turnover will not run smoothly.  Conversely, if there is too little inventory, the company will experience stock out. So, what happens if the safety stock calculation is not done correctly?  Operational systems will be disrupted and waiting times will be longer, resulting in chaotic delivery schedules for consumer orders. 

So have you done safety stock in your business? 

What is an event marketing strategy? Event marketing strategy is a marketing strategy carried out by organizing an event and aims to promote a brand, product or service. Generally, event marketing strategies can be divided into four major parts, namely pre-event, launching, day-to-day marketing, and also last call. 

Some examples of successful marketing events that you can do for your company are holding exhibitions, launching events, concerts and conferences. This event marketing strategy covers all matters related to equipment, tools, techniques and also various promotional channels. 

So, what are the functions and purposes? The function and aim of event marketing is to increase demand for products or services, make products or services accepted by consumers, expand networks and attract profits. By holding marketing events, a brand or product can be well introduced to the public. Apart from that, it can create emotional and rational closeness between consumers and existing products. 

Nowadays, so that companies can reap maximum profits, you must have a number of good event marketing strategies. Why is that? Because one aspect of the world of marketing is closely related to branding and brand awareness.

Event marketing strategies must be able to leave a deep impression in the minds of the participants. When a product is firmly attached to consumers' minds, their opportunity to make a purchase or consume the product will be very large.

Have you implemented an event marketing strategy in your company? 

In managing a business, there are certainly many ways to increase profits. One marketing method that is believed to be profitable is KOL. The KOL (Key Opinion Leader) marketing strategy is a marketing strategy that utilizes people who have certain skills and abilities in their field, so that their opinions are often heard by the public.

KOL can be said to be someone who can be trusted in their field because they have deep abilities and knowledge. A statistical survey from Forbes magazine revealed that 92% of consumers trust KOLs more than advertising or traditional endorsement methods through celebrities.

Why do consumers have more trust in KOLs? Because some consumers prefer to listen to reviews and opinions from someone who is an expert in their field, so they believe that the product or service reviewed by KOL is a product or service that is proven to be good.

Thus, many brands use KOL marketing strategies to increase their sales profits.
So are you interested in using this strategy in your business? 

In the midst of the increasingly rapid development of internet technology, digital branding has become one of the important things that can support the success of online business. This is because most people use the internet every day and all the time. Even based on data internetworldstats, Indonesia's internet users reached 212.35 million people in March 2021. From this amount of data, Indonesia is in third place with the most internet users in Asia.

The fact that Indonesia is in third place with the most internet users in Asia can be an opportunity for online business owners to be able to introduce their business and reach more buyers through digital branding. Digital branding is a management technique that combines branding activities with digital media (internet) to introduce a business to many people.

Imagine if you are the owner of a local brand of women's bag business based in city A. By utilizing the internet through digital branding, you will not only do branding and reach buyers in city A, but throughout Indonesia.

The following is an explanation of the importance of digital branding to support the success of your business:

• Messages spread quickly. 
  The internet can help business owners to convey messages in the form of product introductions to promotions easily to all buyers in various regions.

• Expanding the network. 
  If the digital branding you build is strong and can make maximum use of various online platforms, of course it will be easier for you to expand your business network.

• Makes the brand easier to remember. 
  You can do digital branding on various online platforms so that buyers are increasingly exposed to information about your business and can become top of mindin the minds of buyers.

So have you utilized digital branding to support the success of your online business?

Preparing a digital marketing strategy is very necessary so that you can keep up with changes and updates at any time. Below are several digital marketing trends for 2022 that you need to know:

1. Artificial Intelligence

Maybe in previous years artificial intelligence (AI) was often discussed, but this year the use of AI in digital marketing strategies will increase. In fact, according to Bremework, around 61% of marketers say AI is the most important aspect of their strategy.

2. Mobile-first Marketing

With the increasing number of smartphone users and the majority of traffic on the internet, mobile-first marketing needs to be considered in digital marketing trends. So, for marketers, have you ensured that the UX on your website is comfortable for smartphone users?

3. Hybrid Event

It cannot be denied that the effects of the Covid-19 pandemic have caused many activities to shift online. However, this year we must also be prepared that 2022 is a year of transition to normal activities. This hybrid event method is a combined method when holding an event, namely online and offline, so participants can choose.

4. Mobile Live Stream Shopping

The trend of shopping using smartphone methods is increasingly diverse, one of which is live stream shopping. Digital marketing needs to pay attention to this trend to determine strategy. Make sure marketers have mobile-friendly social commerce and can take advantage of live stream features.

What do you think about the explanation of 2022 digital marketing trends, have you used one or even all of them? 

Gamification is a technique or method that applies games into marketing strategies which was first implemented in 2010 (C&EN Media Group). Based on the Anyplace Survey, gamification is one of the many useful ways to increase the engagement and interest of your customers, potential customers and clients. 

By implementing a gamification strategy, you can add various interesting elements to your website or application with challenges, prizes and so on. This is able to make customers interact more and trigger the interest of users to be able to compete in the game. Not only that, gamification  gives a sense of achievement and competition to users. People tend to want to be seen and rewarded after doing good work or winning something from others. Therefore, the influence of the gamification concept will indirectly increase customer engagement and interest in buying your product.

Providing attractive prizes by implementing games has been proven to increase customer loyalty and positive opinions regarding your brand and can raise brand awareness. If customers already know your brand and think about it continuously, they will become curious and want to subscribe or buy your product. In the end, customers will become regular customers and will potentially even tell other people about your brand.  

So are you now interested in implementing a gamification system in your online business? 

In the pandemic era, many people are setting up new businesses, both online and offline. This is because there are more expenses than income, and the number of layoffs is even increasing. According to 2021 data from the Ministry of Manpower (Kemenaker), almost 48% of workers working in critical, essential and non-essential sectors are threatened with Termination of Employment (PHK) and being sent home.

In building a business, the first thing you need is capital. But as time goes by, digital branding is needed to develop the business. One method of digital branding that is very important is logos.

A logo is an image that has its own meaning. Creating an organization or company logo is often motivated by the vision, mission, or story behind the organization or company.

Here are three reasons why you need to pay attention to the logo before building a brand:
1. Become a differentiator from other competitors.
Every brand definitely uses a logo to run its business. To avoid misunderstandings regarding the same product, a logo is needed as a differentiator between one brand and another brand. 

2. Attract Consumer Attention.
It is no longer a secret that a unique logo will attract the attention of consumers. Moreover, brands that have good service. Certainly consumers will continue to remember the logo wherever they are.

3. As Brand Identity.
Of course a logo is a brand identity. Because without a logo, consumers don't know the visual form of the brand. Just as written in the previous paragraph, the logo is formed based on the vision and mission. In this way, consumers will know the vision and mission carried by the brand.

Have you imagined the importance of digital branding using logos?