Social media marketing or online electronic media is a great tool for SMEs in Bangladesh to drive business success make it easy and inexpensive...
People are
heading to social media and used to. Now a day
around 172 M mobile connections and 90 M unique mobile subscribers exists and over 25% are
active mobile internet users. The country’s per capita growth was 45% in the
past 5 years. Bangladesh
ahead of all Shows Spectator Index on per capita
GDP growth…
The eCommerce Association of Bangladesh (e-Cab), the trade
body for eCommerce in Bangladesh, estimates there are 700 eCommerce
sites and around 8,000 eCommerce pages on Facebook. Facebook remains a
popular method for advertising and selling products, to a point that many
businesses forgo creating websites. This is inexpensive and easy to reach out to customers. Ten billion taka in transactions takes place on eCommerce
sites per year according to a 2017 e-Cab report.
In Bangladesh, retail e-commerce is growing at 72 percent a month.
At present, more than 35,000 individuals and above 25,000 small and medium enterprises (SMEs) are part of this sector.
LOCAL shoppers in the COVID-19 are now online. As a result, e-commerce is booming around the globe. Shopping online is on the rise. Transactions are also increasing manifold. It is known that online sales have increased by 70 to 80 percent compared to the regular time. Millions of people have been employed in this sector. Business is expanding rapidly.
As a result, the e-commerce market in Bangladesh has exceeded one and a half billion US dollars, according to the German-based research institute Statista, expected to reach at two billion dollars this year and three billion dollars by 2023.
Social
Media
There were 45.00 million social media users
in Bangladesh in January 2021. The number of social media users in Bangladesh
increased by 9.0 million (+25%) between 2020 and 2021. The number of social
media users in Bangladesh was equivalent to 27.2% of the total population in
January 2021.
Face book as a Social media is popular and widely used in Bangladesh.
As per the status of almost 90%, this is a golden opportunity for SMEs to
take the advantage of Social Media
Marketing.
Reasons why is a strong presence in social media important for brands?
1. This is easy to reach- because users are heading and online
2. This is cost-effective and inexpensive and easy to connect live over messenger, WhatsApp
3. Personalized and interactive CMS CRM is easy…
4. Social media pages take palace on the website. So, no need to maintain a website and webmaster
5. Can easily Improved brand awareness
6. Get more traffic to your website
7. Increase engagement with your customers
8. Improved your brand loyalty
9. Know about your competitors
10. Increase Your Overall ROI
11. Build Relationships With Your Target Customers
12. Retarget your customers
13. Importance of Content in Social
Media Marketing
14.
Real-Time
Customer Service
15.
Greater Exposure by targeting users
Online marketing allows small business owners to encourage their
followers, clients, prospects to take action likely by visiting the website, going
through products, rating the service quality, providing user feedback, and many
more which is marketable. Then both the next buyers and normal audience can see
what previous buyers or consumers say about your company. In no time, you can
get good brand value and go ahead.
16.
Better ROI
ROI or Return of Investment is surely one of the main concerns
for startup owners. Only by utilizing a digital marketing strategy, you can keep
tracing and precisely measure from where your leads and web visitors are coming
and taking action.
17.
Brand Advertisement
You see, digital marketing is offering every opportunity so that
you can get the maximum output within the shortest possible time.
18.
Easy to Measure
You can get day-by-day reports of your website visitors, purchase
reports by using Google analytics. Along with that, you can measure how many
people have seen, liked, shared, and commented on your post on Facebook,
Twitter, and Linked In, etc.
19.
Refinement of Business Strategy
Probably, that’s one of the most significant advantages of
digital marketing. Truly any leads or anything you’d get from an online marketing
journey is only a fraction of the cost of typical marketing
20.
Attract Mobile Customers
The number of people tend to do shopping through mobile phone
is at an increasing rate.
21.
Increases Trust & Credibility
Nothing remains hidden online. So when you’re providing
quality products along with satisfactory service, your customers are bound to have
faith in your organization. They will gossip about your product in their circle
and eventually, you’ll get benefited from applying a profound digital marketing
strategy.
22.
Targeting More Leads/Acquiring
More Leads
The activity or campaign you run on the internet, allows you to get
leads and attract more potential clients. Above all, that is one of the main
benefits of digital marketing. You promote your business through online; people
will be pledged to become a customer.
Requirement:
Users are
more learned and SMART about their choices in this connected world. To handle
the users or buyers personas it will require professionals to serve these buyers
personas and personalized interactions online. To handle Fan base loyal
customers trained and HELPING hands in demand. There are so many institutes
already been set up? But their activities are of a spam nature to make money
only other than professionalisms to grow. Every day experiencing thousands of
ads on Facebook regarding training etc. 12 classes…. HOW? This is not that easy to become a social
media marketer in 12 classes. Impossible made possible…. HOW?
Limitations:
Any
object on the earth bearing its own shadow! Also, Social Media or E-Commence going
through miscreants and masterminding cause overshadowed:
- 11.48% of customers were victims of online shopping scams in 2020. The number was previously 7.44% in 2019.
- Very recent 2021 Eorange controversy, Evaly Chair, and MD sued for fraud, harassment PLUs more cases overshadowed this booming social media and e-commerce marketing in a doubt. Due to gambling nature and greediness to be a quick richer both in the company and buyers level fueled the FIRE.
Otherwise, all is well. Emerging markets having always some miscreants takes the chance to get undue advantages. Besides these, other limitations are:
- Another limitation is that the market is still in the primitive stage. Lack of agencies, institute professionals, and govt. rules and regulations hinder the outcome. We have to overcome all such limitations which are usual in any new market situation.
- The SMEs entrepreneurs don’t have to know how about the unique propositions and capabilities of social media marketing how to use. They don’t have a professional setup. In marketing, it will take time to create executives, manager
- Digital marketing as a career in Bangladesh and its salary and is another hindrance to the slow growth of social media. DIGITAL MARKETING: A two thousand crore taka market!
- The present compensation offering and structure don’t comply with the world job market.
Mobile
eCommerce
Utility bill payment and remittance transfers via mobile phone were introduced in Bangladesh in 2006 and 2010 respectively through the country’s leading mobile operators and banks, and have become very popular. The government also authorized mobile operators to sell railway and bus tickets, and tickets to cricket matches organized by the Bangladesh Cricket Board using mobile phones.
As of April 2021, 15 banks are
providing mobile financial services (MFS), with 36.75 million active MFS
accounts. In addition, Prime Minister Sheikh Hasina inaugurated the digital financial service “Nagad” in 2019, which is partly owned by the
Bangladesh Post Office. Mobile financial services in Bangladesh
include cash-in, cash-out, merchant payments, utility payments, salary
disbursement, foreign remittances, and fund transfers. MFS
activities grew rapidly following the outbreak of COVID-19 in 2020, as
consumers sought to use MFS platforms to comply with social distancing
measures. Bangladesh’s central bank instructed banks in April 2020
to open MFS accounts for all workers of export-oriented companies to facilitate
disbursement of salaries and government allowances.
Existing mobile financial service providers popular in the market include bKash, Nagad, Rocket PLUS more…
Our Social Media is mobile-friendly. So we must have no how to optimize mobile-friendly content, posts,
graphics, designs, videos, audios whatever.
Pixels and web design, the webpage must be optimized and mobile-friendly.
Conclusion:
1. With a no or limited or minimum budget social
media marketing is the best option to reach out to the intended and targeted
users.
2.
All the benefits of online marketing are stated. Therefore, success relentlessly depends on your business objective as well as the mindset
and hiring the right executives.
More Resources:
https://www.digitalmarketingbd.com/why-social-media-marketing-is-important-for-small-business/
https://brainstation-23.com/e-commerce-business-scenario-in-bangladesh-2006-to-2018/
https://www.newagebd.net/article/114200/the-growth-of-e-commerce-during-the-pandemic-in-bangladesh
https://www.trade.gov/country-commercial-guides/bangladesh-ecommerce
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