You are reading the article Tips And Strategies For Planning And Saving Money updated in February 2024 on the website Kientrucdochoi.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested March 2024 Tips And Strategies For Planning And Saving MoneyIntroduction to Saving Money
This is an outline of Saving money. It is often the dream of most common people to become rich. The definition of “rich” for some people means having a big house, a big car, and a big bank balance. However, this definition is not true incomplete sense. To justify this, ask yourself one question: As of today do you have more money than you had in the last month? If the answer to this question is yes, then you have taken one step towards becoming rich. If the answer is no, you must begin self-introspection regarding your habit of spending money.
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When it comes to the habit of spending money, I’m reminded of famous saving money quotes which go as :
“A penny saved is a penny earned” – Benjamin Franklin
This means saving more money than you already have is very useful compared to earning more and spending more. I’m also reminded of another quote when it comes to money.
“Time is money” – Benjamin FranklinHow to Start Saving Money? 1. Avoid Plastic Money
According to researchers, people spend more on debit/credit cards than cash. This is because making transactions using plastic money has little impact on you because you are not parting with real money, i.e. cash. Hence you spend more easily and without any worry. Using debit/credit cards also encourages you to buy unnecessary stuff and often takes you out of your shopping budget. Hence it is recommended to use cash in most financial transactions.2. Select a Good Savings Account
Instead of going with a regular bank deposit, look at a savings account offering additional benefits and an attractive interest rate. Kotak Mahindra Bank offers a 6% interest rate on your savings account, which is substantially better when you have a huge balance.
The below chart shows the interest rate on saving accounts offered by different banks:
Name of Bank
Yes Bank Savings 7.00%
Kotak Mahindra Bank Savings 6.00%
Ratnakar Bank Savings 5.50%
Other Nationalised Banks Savings 4.00%
There are banks that offer free Demat facilities along with savings accounts. Some banks (such as SBI) allow a zero-balance facility which is a great feature in an emergency (ICICI bank maintains a minimum balance of INR.10000 for a savings account). Some banks (such as Punjab National Bank, Corporation Bank, and State Bank of India) provide regular freebies, student savings accounts, and free demand drafts for paying examination fees or buying application forms.
Today banks also provide life insurance coverage for privileged savings accounts holder. This saves you money from spending additional bucks on life insurance coverage.3. Save Electricity to Save Money
Now, let’s make a quick calculation of the amount that is saved in the above scenario.
Earlier bill amount: INR.4000
New bill amount: INR.2100
Monthly amount saved: INR.1900 (4000 – 2100)
Annually amount saved: INR.22800 (1900*12)
Based on the above calculation, you may wonder if using electricity diligently can save a huge amount.
Below are a few saving money tips to save electricity:
Replace ordinary light bulbs with LEDs.
Keep computer/laptop in sleep mode when not in use.
Turn off lights when it is not in use.
Switch off the main power button when you are out on vacation.
Inform government officials if the street light is on during the daytime.4. Use Free ATMs
If you withdraw the amount from another bank ATM after a certain number of limits, additional charges are levied for the transaction. This number of transaction limits varies from bank-to-bank such as SBI offers three transactions, whereas ICICI offers four transactions. If the number of transaction limits is exceeded, additional charges of INR.20 per withdrawal are imposed. If you are a regular withdrawal from ATMs outside your bank’s network, it can be expensive! You can avoid this by properly planning your withdrawals.5. Fix a Budget and Stick to it
Having a budget for your monthly expenses may sound funny, but it is a must. It helps a lot to curb and control the outflow of money. While preparing the budget, make sure there are savings, and then, from the balance, chalk out a monthly budget. You should keep 20% of your salary as savings and the remaining 80% as a monthly budget.6. Save Money by Planning Taxes
You can save a significant amount of money by planning taxes properly. You can do this only if you know the exemption offered by the Income Tax department. Let’s check various exemptions that the Income Tax department offers to Indian citizens:
Investment Specified under Section 80C
Tax-saving mutual fund
Tax saving fixed deposit
Repayment of principal on your housing loan
The premium of a life insurance policy (LIC)
National Savings Certificate (NSC)
Contribution towards Employee Provident Fund (EPF)
Investment Specified under Section 80CCC & Section 80CCD
Deduction under Section 80CCC allows for payment of any amount done towards the annuity plan of any insurance company for receiving the pension, i.e. contribution towards Pension Funds. Deduction under Section 80CCD allows the individual who has made a contribution towards the pension scheme of the Central Government, i.e. National Pension Scheme (NPS).
The maximum amount that is allowed to be claimed for deduction under Section 80C, as well as 80CCC, is INR.1,50,000 for every financial year. It has been announced that from the financial year 2024-16 onwards, an additional deduction of INR.50,000 is allowed for investment done in NPS.
Overall the cumulative total under this deduction should not exceed INR.2,00,000.
Investment Specified under Section 80TTA
A deduction of INR.10,000 under Section 80TTA can be claimed from interest earned from Savings Account. This interest income is first added under the category “Income from other sources”, and later on, deduction from this income is allowed under Section 80TTA with the constraint of INR.10,000 per annum.
Investment Specified under Section 80CCG
Investment under Section 80CCG is also known as the Rajiv Gandhi Equity Savings Scheme. This deduction applies to an individual who has invested in shares or mutual funds listed for a given financial year. The deduction allowed is 50% of the amount invested with a maximum limit of INR.25,000.
Investment Specified under Section 80D
Individuals or HUF (Hindu Undivided Family) who have paid for medical insurance premiums for themselves or any family numbers can then claim the amount as an income tax deduction.
Investment has been made under Section 80DD and Section 80U7. Use Free Facilities
There are a few facilities that are available for free such as:
Newspaper/Books are available at the library of the clubhouse.
Internet in the form of free Wifi.
Gymnasium, which can be done at the office or social clubhouse.
Yoga classes by the Patanjali group.
Training for courses can be accessed for free from YouTube.
You can utilize these facilities to save money.8. Invest Money in Mutual Funds or Equity Markets
Investing money in mutual funds, equity markets, or the real markets is a wise decision to earn money from savings. People tend to avoid investing in these schemes due to a lack of knowledge. However, several links available will help you learn about equity markets and mutual funds (such as moneycontrol, jagoinvestor). You can even subscribe to channels on YouTube that give training on share markets.
It is better to diversify your investments than invest all into one scheme since markets are sometimes risky. Diversifying your investments means investing money in various areas, such as the equity market, mutual funds, or share markets. To explain with an example, my dad invested in UTI mutual fund MasterGain 92 (which is UTI equity now) with 100 units worth INR.1000 rupees. Every year dividend was paid based on market value. After a few years, the units were redeemed completely, and the amount after redemption was INR.79000.9. Party at Home
If you throw a party at a restaurant, then it will cost you thousands of bucks. If this is done at your home or in the backyard, you can save a lot! You can even ask for your friend’s farmhouse to organize a party. The only expense you need to pay is the food you order. If you order food in bulk, you can ask for additional discounts, which most restaurants generally give. Try to order food from a restaurant you are already familiar with to get loyalty discounts.10. Tap your Mobile Phone Usage
The use of mobile phones is essential in day-to-day life. You may constantly require data packs, unlimited calls, night calling packs, and other schemes. In such a scheme, you forget to tap your mobile phone usage. If you are a post-paid user, you must keep track of usage. If you don’t track usage, you may end up with bills out of budget. I was a post-paid user until last year I received a monthly bill of INR.2300. Thereafter, I decided to switch to prepaid, which was a wise decision to save money. As a prepaid user, you can top up as needed and are completely aware of mobile usage. After opting to prepaid, my monthly bill was reduced to INR.750, a significant change.
Let’s quickly calculate the money saved after switching to prepaid mobile.
Post-paid bill (monthly): INR.2300
Pre-paid bill (monthly): INR.750
Amount saved (monthly): INR.1550 (2300-750)
Amount saved (annually): INR.18600 (1550*12)
You may wonder after looking at statistics. The amount saved annually is sufficient to buy a health insurance policy for your family. Some bill payment service providers (such as Paytm, Mobikwik, and Freecharge) offer cashback when the bill is paid using their service. This, too, adds to the amount saved on the mobile bill.11. Check with Part-time Positions
However, you must be extra cautious before applying to such jobs since most are scams. There are job search engines such as first chúng tôi chúng tôi chúng tôi and chúng tôi which are designed particularly for college students for part-time jobs. You can even seek help for a part-time job from your contacts, such as family and friends.12. Compare and Bargain
You should bargain as if it’s your birthright since everyone has margins when goods are sold. In today’s scenario, where the economy is slow, traders generally go with the maximum margins. You can compare prices of stuff online on various e-commerce sites such as Flipkart, Snapdeal, Amazon, eBay, etc. While visiting a store, keep the price handy, and using that, you can bargain. Such bargains may not result in much but will bring down the price by at least 5-10%.Conclusion
If you practice the above-saving money tips and tricks, you will have a sufficient bank balance at the end of the financial year.Recommended Articles
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You have specified organizational goals and come up with a strategic plan. Now, how can you ensure that it is done perfectly?
Strategy execution can be regarded as the implementation of the strategic plan toward achieving organizational goals. The process of strategy execution features essential components like systems, daily structures, and operational goals you would set up within your team for achieving success.
Even the most successful strategic plans can turn into a failure when you do not execute them perfectly. As a matter of fact, poor execution is a highly common incident. As per a study report, it is estimated that around 48 percent of companies fail towards reaching half of the respective strategic targets. Let us help you understand how you can equip your entire team to implement the strategic plans effectively.Top Ways to Ensure Successful Strategy Execution
Strategy execution is implementing the strategic plan defining particular tasks and organizational goals. Strategic execution leverages systems, processes, and a series of relevant decisions toward clarifying goals for the respective employees. It also involves defining actions or steps the organization is expected to undertake to achieve the respective goals.
Some important steps for strategy execution are −Committing to a Strategic Plan
Before you go ahead with strategic execution, it is crucial to make sure that all stakeholders and decision-makers agree on the given strategic plan.
As per a study report, it is revealed that around 71 percent of employees within organizations having a weak execution strategy are second-guessed. This is in opposition to 45 percent of employees from organizations having stronger execution.
When you commit to a dedicated strategic plan before starting the implementation process, it will ensure that teams and decision-makers are effectively aligned on the same set of goals. This helps in creating a shared understanding of large-scale strategic plans across the entire organization.
Strategies are never stagnant. They should continue evolving with new opportunities and challenges. Communication is pivotal to making sure that your entire team commences on the same page in the strategic planning process while staying aligned with the passage of time.Aligning Jobs to Strategy
A common limitation that most organizations face in the process of seamless strategy execution is that the roles of employees are not designed by keeping the particular strategy in mind. This tends to take place when employees are recruited before the formulation of the strategy. It can also occur when roles are established towards aligning with a proper company strategy.
In the process of strategy execution, jobs tend to be optimized for high performance when they effectively line up with a dedicated organizational strategy. A reliable tool like JDOT or Job Design Optimization Tool can be used by individuals for assessing whether or not organizational jobs are optimized for successful strategic execution.
The JDOT is capable of assessing the design of the job depending on crucial factors -including accountability, control, support, and influence.Communicating Clearly to Empower Employees
As far as strategic execution is concerned, the overall power of clear, concise communication cannot be overlooked. The fact that a whopping 95 percent of employees are not able to understand or are not aware of the organization’s strategy, emphasizes the importance of communication toward empowering employees.
Strategic execution primarily depends on every member of the day-to-day decisions and tasks of the organization. Therefore, it is crucial to make sure that everyone is capable of understanding not only the broader strategic goals of the organization but also how individual responsibilities will make it possible to achieve them.
Data outlined in a study report reveals that around 61 percent of staff at stronger organizations believe that line and field employees are provided information relevant to understand the overall impact of the respective decisions and work. In a typically weak organization, only 28 percent of them believe that it is true.Measuring and Monitoring Performance
Strategic execution depends on continuously assessing the overall progress toward specific goals. To effectively measure the performance metrics of the organization, it is crucial to determine KPIs or Key Performance Indicators during the stage of strategic planning. A numeric-based goal will be a clear, well-defined measure of the overall success of your team towards regularly tracking and monitoring performance while assessing if any modifications required should be based on the given progress.
For example, the strategic goal of your company could indicate that the customer retention rate should be increased by 30 percent by the time of 2024. When you maintain a record of the respective change in customer retention rate on a monthly or weekly basis, you can observe relevant data trends over time.
If records reveal that customer retention rate is decreasing on a monthly basis, it could be a signal that your strategic plan needs pivoting. It is because it is not driving the change you aim for.Balancing Innovation & Control
While innovation serves to be a crucial driving force for ensuring company growth, do not allow it to derail strategic execution.
To harness innovation and ensure ample control over the ongoing strategic implementation, you should aim at developing a process to evaluate barriers, challenges, and opportunities that come your way. At the same time, understand that a stagnant organization will have no room for ensuring growth. Encourage employees to go ahead with brainstorming, experimenting, and taking calculated risks with strategic initiatives in mind.Conclusion
Setting strategic goals, coming up with a detailed plan, and executing a relevant strategy will require a unique set of skills. The development of relevant skills can have a long-lasting impact on the future performance of the organization.
Athletes and people who lead active lives face particular hurdles when it comes to skincare and appearance. The skin and hair can become damaged as a result of perspiration, exposure to the sun and severe weather, and regular physical exercise. Hence, adopting a skincare and cosmetic routine that is suited to their individual needs is crucial for athletes and other active people. This may entail using products and techniques that nourish, moisturize, and protect the skin and hair while enhancing general health and well-being.Beauty and Skincare Tips for Athletes and Active Individuals
It’s likely that your skin is exposed to a variety of circumstances if you’re an athlete. If you perform the majority of your workout outside, you may experience a range of temperatures, weather, and the sun’s harmful rays. Even if you train inside, your skin might still produce a lot more perspiration and filth than the ordinary person who doesn’t routinely work out. Here is a fresh approach to the fundamental skincare regimen geared toward athletes and energetic individuals.
Following are some of the tips to keep skin beautiful −Gently Cleanse
Even if you are an athlete, you still need to wash your face twice a day, morning and night, just like everyone else. That is, at least twice. Whether it’s late in the morning, during lunch, or after work, if you start to perspire in the middle of the day, you’ll probably be washing it again in the shower. Naturally, that is to be anticipated. But what matters is the kind of cleanser you employ: Make sure it thoroughly cleans while maintaining the skin’s moisture levels, without over-drying. It’s crucial to flush away sweat and pollutants while without over-stripping the skin of its natural moisture due to all the additional washing you’ll be doing.Choose a Light-Weight Moisturizer with SPF
Even in the dead of winter, spending time outside exposes you to their skin-aging effects. But a goopy face sunscreen isn’t really what you want if you’re exercising outside because it will wear off quickly and cause you to perspire excessively. Use a lightweight moisturizer with SPF 30 or more instead. Apply it prior to all outdoor workouts as well as any lighter outdoor chores and activities. It will provide two hours of the highest SPF protection.Take Brief, Gentle Showers
Significant fluctuations in heart rate are among the things that athletes go through. This is frequently combined with a workout’s frequent change in temperature and atmosphere (be it the cool gym, versus a hot day outside, or going from the gym to a bundled-up coat). All of this can make your skincare routine more difficult to follow after a shower because your body spends so much time warming up and cooling down. Sweating—lots of it—occurs as a result all over the body. Allowing your body to calm down after a workout—possibly by taking a shower at home rather than at the gym—and then taking a brief, mild-temperature shower are two ways to help with this. After finishing your cleaning, go outside to let your body finish cooling off and for your heart rate to begin to slow. It will increase the effectiveness of the moisturizer you apply after a shower and prevent you from storing dried perspiration inside your pores.Air Dry
Together with the last suggestion, make an effort to completely chill down and dry off before applying any moisturizer. The best place to do this is at home, where you may starfish on the bed and unwind while everything dries. After a workout and shower, applying moisturizer or other products will result in increased perspiration, possible pore clogging, and subsequent breakouts. Just wait till everything has calmed down before using the appropriate daytime or nighttime moisturizer.Moisturize
Use moisturizer once your skin has returned to normal temperature and no longer appears red or flushed. Use a light, non-comedogenic product to moisturize and rejuvenate your skin. It’s a good idea to rejuvenate your skin with antioxidant-formulated skin care if you’ve been outside and dirt and pollution particles may have gotten on your skin. Moisturizer helps decrease the look of sun damage and shows toned, younger-looking skin. With repeated application over time, it can also help lighten the look of black spots.Hydrate
By sweating it out, if you’ve lost a lot of water. Make sure your body replaces its moisture levels by drinking plenty of water in addition to moisturizing your skin. Depending on the intensity of your workout and the ambient temperature where you finished your training, try to drink enough water. Exercise is great for your body and skin, but you must also take care of it before and after to prevent breakouts or damage. You can guarantee that your skin will be radiant and healthy-looking with a little bit of preparation and the correct products.Utilize Mist to Soothe Your Skin
After working out and shortly after cleansing, your skin may feel hot or tingly. To help revive your skin, use a calming facial spray packed with components like rose or lavender. If you use a mist just before applying moisturizer, it will also hydrate your skin. This is due to the fact that some of the water particles are retained and locked into your skin.Put Recuperation First
One of the most crucial times of the day for your skin is this recuperation process. Your skin heals, regenerates, bounces back, and does all of this on its own while you’re sleeping. By filling it with recovery-focused products, you’re supplying it with the tools it needs to work harder to maintain your skin’s balance and clarity. You unwittingly put a lot of strain on your skin as an active person through excessive sweating, over washing, sun exposure, and other factors. The best way to maintain healthy skin is to have a good night’s sleep and perform a comprehensive skincare routine before bed. Next, after rinsing, wake up and repeat the previous procedure.Exfoliate and Shave Conclusion
For athletes and those who lead active lives, preserving beautiful, healthy skin and hair is essential. They can address the special issues that their active lifestyles present with the use of a customized skincare and beautification program. Athletes and active people can look and feel their best while improving general health and well-being by using products and techniques that moisturize, protect, and nourish the skin and hair.
Also, people who are active or athletic may want to think about purchasing items that are specially made for them, including sweat-proof cosmetics and sunscreen with a high SPF. It’s also critical to develop healthy habits, such regularly cleaning the face and applying a moisturizer to avoid dryness and irritability. Athletes and other active people can improve their physical appearance, boost their self-confidence, and perform better by taking care of their skin and hair.
In the midst of all the keywords, statistics, and data crunching, it’s easy to lose sight of who we’re doing it all for. Ultimately it’s humans who we want to land on our content – not just search engine spiders.
The second day of Pubcon Las Vegas was a wake up call to fact that marketers should be doing more to please people with their digital strategies. Or, at the very least, consider them to the same degree that we consider engines and algorithms.
The day’s sessions reinforced the idea that optimization strategies should be designed for humans as well as algorithms.Morning Keynote: Conversation With Google Adsense Team
Google’s John Brown and Richard Zippel team kicked the day off with their latest people-pleasing contribution to the digital world: accelerated mobile articles.
Google and Twitter have launched their own content delivery platform, which is said to aid in the distribution of content to mobile devices.
To Google’s dismay, their announcement was derailed at the hands of one attendee who thought it was an appropriate time to grill the Google team on their European policies.
The attendee took issue with the fact that there might eventually be some cross over into US search results. To Google’s credit, the team did their best to thwart criticisms and stay on message to get the word out about the new product.Afternoon Sessions: Site Audits and Holistic Search
Following the morning, I attended a live site audit where a perfect example was shown of a site that was designed for engines over people.
The site in question had done everything necessary to please search engines, but are still were not getting the rankings they felt they deserved.
When the panel asked the site owner what kind of content was being created to educate people about his products, it was clear that strategy hadn’t been considered.
Again, reinforcing the importance of creating content for both people and search engines.Search is the Study of Human Behavior Online
During a session on holistic search, Rhea Drysdale of Outspoken Media reinforced the ideas that its an SEOs job to guide people to the content they want to find.
Drysdale summed an SEO’s job in one of the most important ways I’ve heard it stated:
“Search holds the key to what organizations need to succeed. We are the keepers of how humans want (or don’t want) to find and interact with our organizations.”Afternoon Keynote: Rand Fishkin and the Two Algo World
Rand Fishkin’s afternoon keynote explained how we’re now marketing in a two algorithm world:
Algorithm 1 = Google
Algorithm 2 = Subset of humanity that interacts with your content
Optimize for also input and human output, Fishkin stated, adding that neglecting one for the other is a failed strategy.
Fishkin was also gracious enough to share his full slide deck here.Storytelling and SEO
One of the final sessions of the day was dedicated to storytelling and SEO. Martin MacDonald of Orbitz explained how he’s seen millions spent on creating content simply to please Google.
Marketers are essentially filling the web with content people don’t want to read because Google’s Panda algorithm rewards fresh content.
However, marketers could be getting much more mileage out of content if they used storytelling principles to create content people want to read.
Easier said than done, right? Creating new content is a challenge, especially if you’re not particularly skilled at writing.
Three tools were recommended for helping marketers tell better stories with content:
WordPress: For hosting the content, of course.
AESOP Story Engine: A WordPress plugin that can walk you through the entire storytelling process
Impactana: A tool for identifying content that’s about to go viral. This can be used to discover what topics people are interested in.
The three tools mentioned above are all free, but it was warned that Impactana may soon become a paid service.
For the full visual story of Pubcon Day 2, please see the photo gallery below.
Before the pandemic, fitness enthusiasts preferred traditional gyms and fitness studios for their workouts. However, during the pandemic, people were forced to work out in their homes with what limited equipment they had. They were limited to virtual training and sessions with DIY equipment. And eventually, people began to celebrate its convenience and flexibility. But, post the pandemic, people are craving a change. Over 80% of consumers have expressed their desire to return to the walk-in gyms and fitness clubs, and the rest wish to continue the convenient virtual sessions.
Hence, fitness studios and gyms should strive to accommodate the needs and desires of both clientele groups. This is a guaranteed way to ensure sales and better brand visibility.
So, how to ensure that your business is a cut above the rest?
How to ensure that your target audience becomes your loyal consumers?
And how to ensure that your revenues are high to sustain and flourish your fitness studio?
Although the answer is quite complex, it can be fundamentally narrowed down to dynamic digital marketing.
Digital marketing is a blend of traditional marketing practices with the latest digital mediums. It is a marketing strategy that involves promoting the goods and services of a business to consumers through digital channels like social media and search engines. It has become a necessity for businesses worldwide, and several reasons exist to make such a claim.Top 10 Digital Marketing Strategies for Gym and Fitness Clubs
The top 10 dynamic digital strategies that will improve the visibility of your fitness studio and contribute to higher revenue generation are:1. Create And Market A Unique Brand
With so many similar businesses out there, establishing a brand identity is integral to the success of your gym and fitness centres. It facilitates consumers to form informed opinions and act on those opinions. Those opinions will often be in your favour when your brand identity is consistently and innovatively marketed.
Branding is a very important factor for scaling your business and increasing your visibility. SoulCycle is a great example of how it has consistently continued to market its brand since its grand launch in 2006.
They are a simple, highly specific business that caters to a particular niche and is extremely bright and positive. Gaining clarity on your brand identity will facilitate the effective marketing of your business.
Start with what your values are as a business in the world of fitness. Then focus on your ideal consumer base, interiors, methods of instruction, and exercise. Whether you wish to be a regular gym, a Zumba club, or an aerial aerobics centre, customize your marketing campaign.
Finalizing your brand logo with colours and symbols that reflect and appear cohesive to your entire business is important. And finally, devising effective digital marketing strategies that can accurately expose your business to your niche clientele will ensure revenue and sales.2. A User-Friendly Website And Mobile Application
A fully optimized website is a need for every business. It allows people to find your business and interact. A fully optimized and engaging website will facilitate a medium for communicating with your consumers. There are several reasons for investing in a quality website. First and one of the most important reasons, your members and consumers expect it.
Consumers are looking for gyms and fitness studios whose information can be accessed online. Without it, 57% of consumers will not be considering your business over others in the market. It is a great platform to curate all the necessary information at one location to ensure easy access by consumers.
Here are the best practices to create an engaging website:
Quick site loading, seamless navigation, and adaptability to different devices ensure a credible and loyal approach to customer interaction.
A highly professional web design that appeals to the general consumers and incorporates the latest standards like dark modes, animation, and brand hues.
An updated security system and privacy features.
An email sign-up sheet that allows lead generation.
Videos, pictures of events, and live sessions conducted by in-house trainers, both online and offline, are great ways to engage and introduce transparency.
Location and contact information and a brief framework of the kind of sessions and classes, along with flexible timings, will allow consumers to form accurate decisions.3. Marketing Through Email and Remarketing
Several different tools, like MailChimp and Constant Contact, can be utilized to generate high-quality custom emails to appeal to your consumers directly.
Email marketing is extremely beneficial. They are not affected by trends and variables, which often affect other digital marketing channels like social media or SEO. They market to the ideal consumers through a narrow and specific list and hence have a high probability of conversions. And finally, they offer a convenient communication mode through personalization, improving brand identity and credibility.
Initially, a welcome email to welcome new members into your gyms and fitness clubs. They make the consumers feel appreciated and will encourage their continued support.
Reminder emails for retargeting ideal consumers. Often, consumers are unable to buy your membership due to distractions, lengthy processes, or payment issues. Reaching out to them and solving their issues will encourage them to complete their purchase.
Update emails with the latest events offer, and new information regarding scheduling and referral programs allow consumers to gain access to valuable intel and keep them engaged. Daily updates on classes and timings and feedback about sessions are a great personal touch to reflect brand value.
Emails informing your members of incentives for referrals and the end of membership and trials are an added benefit.
And finally, feedback emails to collect valuable information from your members regarding their experience and facilities that can be improved. It is a credible and accurate way of collecting measurable user data and can be analyzed to implement strategic plans to counter the same.4. Optimize your Reach Through Influencer Marketing
Influencer marketing is the latest trend in marketing strategies. It builds on the concept of word-of-mouth but has a much higher engagement level. It involves businesses collaborating with influencers on social media like Instagram, Facebook, YouTube, LinkedIn, and Twitter. It is an endorsement or a sponsorship of capitalizing on the credibility and following that these influencers have amassed over the years.
There are three different categories of approaches that can be initiated with influencer marketing. Paid collaborations, mutual content, and intel exchange or creative collaborations. Depending on the quality of content and the domain, successful collaborations can be initiated. Those in the field of nutrition, fitness, sports, sports equipment, and athletes are a great start to influencer marketing. Instagram reels and videos can be uploaded to market to the ideal consumer base. Rather than chasing numbers, chasing high-quality content and authenticity is key. Focusing on nano and micro-influencers would reap more benefits for your gyms and fitness clubs.5. Reviews and Testimonials to Enhance Credibility
Reviews and member testimonials are the ideal way to establish credibility and brand value for your gyms and fitness clubs. They are an unbiased source of information that can help market your business to avail more members. Both negative and positive reviews are beneficial for the progress of your business.
Over 87% of consumers read reviews online before making a purchase. Hence, they are an invaluable asset to the growth of your business. Positive reviews enhance SEO performance, and credibility, and reflect customer satisfaction. Negative reviews have the potential to be converted to positive ones with the right approach. They also provide valuable insight into the framework of your business model.
Reviews, when displayed, have the potential to increase your conversions by 270%. Reviews can be collected through your website, social media handles, direct emails, and even through Google. Invest in guiding your members on a unified structure for these reviews and encourage them to post through attractive incentive schemes. Reviews in the form of training received, transformations achieved, and quality of equipment and support are necessary to create the right traction.
Gold’s Gym, for example, has a variety of portals through which they display and collect their reviews to reel in more members. They have reviews on Facebook, Mouthshut, JustDial, Glassdoor, and Google reviews to name a few.6. Optimizing your Online Presence for Better Visibility
Better online presence correlates with higher search engine ranking. Search Engine Optimizations or SEO facilitate your website to perform better and engage with a wider audience. SEO is a series of processes that involves auditing the content and technical aspects of the website of your gym or fitness club. Online presence is the most important aspect of digital marketing, and an updated and highly optimized website is a great path to creating an immaculate online presence.
Either by outsourcing or through DIY SEO audits, your website can be analyzed and improved. There are several added benefits to SEO. It is cost-effective, flexible, and increases brand awareness. Investing in analyzing keywords associated with your website content is a great first strategy. You can analyze the usage and frequency of keywords on your website through tools and applications like Google Search Console, Google Keyword Planner, Soovle, Semrush, and Jaaxy.
Before a consumer makes a purchase, they do a quick online search to gather information to help with their decision. Phrases like “Best gyms near me”, “Fitness studios near me”, or “Top fitness centers in my area” are some of the commonly used keywords to find out about operating gyms. So, having more of these high-probable words incorporated into your website facilitates higher ranking and greater visibility.
Along with keyword analysis, analyzing and organizing your blog content, reviews, testimonials, email signups, updating your GMB page, and a virtual gallery to create a user-friendly navigation experience are ideal. This is a content SEO audit of your website.
A technical audit needs to be performed to ensure that search engines like Google and Yahoo can crawl your website much faster and at a higher position than your competitors. Analyzing the backlinks, codes and technical framework ensures the implementation of higher-quality plans. Focusing on local SEO is ideal for your gym and fitness clubs as distance and travel play a key role.7. Social Media Marketing
With almost 59% of the global population being active users of social media, it has evolved into one of the most engaging and beneficial digital marketing strategies. Social media marketing involves promoting your business online through applications like Facebook, Instagram, Twitter, YouTube, and Pinterest to reach a much wider audience. This form of marketing is highly effective, extremely budget-friendly, flexible, and has room for exploring creativity. Here’s how you could do it:
Broadcasting training and sessions live occasionally through Instagram and YouTube is a great way to provide a trial class for members to generate high conversions.
Trending reels and posts from members and trainers will gain more valuable traction.
Updating your website blog and sharing it with your Instagram and Facebook members in the form of story highlights is an innovative way to keep your members engaged.
Another best practice to create long form content could include recording and documenting a few basic training sessions and a walk-through of your fitness studio. This can be a great way of curating content for YouTube.
Creating fitness challenges and trends and marketing them through relevant hashtags is one of the most engaging social media strategies that will propel your gym miles ahead. These hashtags also allow social media users to access information related to the location of their gyms and clubs, thereby generating more foot traffic.
Constant but short-form updates shared via Twitter act as a reliable and user-friendly communication channel. It can also be the best place to solve customer queries or concerns.8. Invest in a Memorable and Seamless Customer Experience
From in-house nutritionists to the latest technological equipment, fitness studios and gyms across the world are investing in creating a seamless customer experience. Customer satisfaction will differentiate your business from that of your competitors. No great company can take customer satisfaction as an afterthought while building a community of superfans.
Flexibility in the mode of classes and scheduling is key. Incentives and loyalty benefits need to be provided to ensure long-term retention. An approachable channel needs to be provided for your members to communicate feedback effectively. And finally, free trial classes and sessions can be arranged to generate more conversions through quality checks and persuasion.
There are several benefits to ensure a smooth and enjoyable experience for your members. It shows loyalty from your end and increases trustworthiness. By matching customer expectations, you will be able to retain existing members, thereby increasing their lifecycle. This also contributes to significantly more referrals. It increases your brand value and creates an environment for custom and superior pricing. The rule is simple – happy customers will make your business thrive.9. Provision for Exclusive Benefits and Incentives for Members
Benefits like free access to sessions, exclusive merchandise, free access ta o certified nutritionists, additional incentives like extendable membership, referral incentives, and occasional recreational outings are a great way to show and receive loyalty from gym members. Other incentives like giveaways, celebratory gifts, and benefits on holidays and special occasions are also great for marketing your business through digital channels.10. Paid Advertisements
Different strategies can be deployed once the needs of your gyms are identified. Content or performance-based strategies can be created based on the need to bring the desired results.
Also, read how these top 20 gym influencers in India became popular with the help of digital marketing.Conclusion
The above-mentioned digital marketing strategies are dynamic and in-trend. Any business following a traditional, modern, or hybrid channel of operation will need to up its marketing game to attract ideal consumers from a saturated market. Gyms and fitness centers are experiencing a new wave of consumers who are predominantly looking for convenience without compromising on quality. Hence, if your business ticks all the above boxes, these marketing tactics will help promote your brand and also contribute to quality sales.
Social media is the most powerful tool that a brand can use to expand its identity. In the current world, it has become a necessity to have a strong social media presence. Brands are extensively exploring the ample opportunities that come with this tool. Understanding the metrics in social media tools helps one take the right decisions for their brand. This eventually makes the brand reliable and trustworthy as most of these tools focus on creating content that appeals to customers.
Plans that are designed to put you first on social media are called social media marketing strategies. These strategies help businesses build a robust online presence. People use social media in many ways. Some use it to become influencers, while others use it for passion. On the other hand, when the same tool is for a business to monetize its presence, it is called social media marketing for business.
There are so many businesses out there on social mediato improve there online digital markting presence, and it is a vast ocean. It is easy to get unidentified in the pool. But there are certain things that you can follow to make your online presence on social media secure and make sure your brand is visible to your potential customers.
However, there are specific tips that you can stick to if you would like to make your online presence for your brand reliable. These tips will help you get out of the impression that only big brands can do things for they have experts helping them in creating strategies. Strategies can be created by anyone, provided they understand how to take their first steps.The Need For Crafting A Social Media Strategy For Business
But before jumping to that part, let us try and understand one thing. Why do you think is it essential to create a social media strategy for a business? Well, I can also work without it, but what makes it very crucial to have it? How does a company stand out or ahead in the competition if one implements strategy creation? Here’s all to break your questions.1. Sets goals
Having a strong online presence will let people know about your brand. You are sure to get new customers if you place your ad on Instagram or Facebook, as plenty of users are social media users. A strategy would help you channelize your ideas as to how to showcase your brand out there to reach the target audience.2. Validation
By creating strategies, you will know what or who to target. Each of the social media handles has insights that will help you understand your performance as a brand on social media. Validating those results will help you make better decisions.3. Time saver
Every day or hour wasted is like losing a user who might turn to a potential customer. By creating a strategy, you will be able to schedule the online activities that will help you stay out of the confusion as to “what has to be done next”. This will keep your working constant and with no hindrances.4. Orderliness
With a strategy in place, you will be able to plan, execute and optimize your performance. It will also help you to measure your success. Every activity needs a helping hand, and so a strategy will help in channelizing and making daily tasks simpler.5. Saves Money
You cannot directly jump into social media platforms without knowing where or what to do will only have a bit hit on your wallet. A strategy will help you quickly come out of the confusion as to where and how to invest in getting potential results. Also, if you have created some content, you are supposed to figure out if it is contributing to your business positively.6. Creates a direction
By being prepared as to what to post, when to post, you have a clear line of tasks defined to keep your online presence continuous. This will eliminate any risk of losing customers or spending extra money on a plan that might not yield you good results.Effective Tips To Create A Successful Social Media Strategy For Your Brand a. SET REALISTIC GOALS –
First things first, you need to set goals for your brand. Having realistic and achievable goals is more important than just listing out your target on a piece of paper. For this, your goals should be specific and measurable.
Another requirement is that those goals should be easy to achieve. Do not go hard on yourself right at the beginning. Also, make sure you set time to accomplish these goals. With no deadline, you will tend to drag your goals further by not achieving them on time.
Your goals should complement your business. Different businesses have different objectives, and so goals differ. Do not set a particular purpose only because your competitor has it on their list. Your basic set of goals should involve the following:
Focus on brand awareness
Growing your followers or fanbase on social media
Better customer serviceb. Determine Your Metrics
There are several metrics for multiple social media channels. Not all of them are relevant to your brand. This is where the previous step helps. Setting up goals will help you determine what metrics you want to target. Defining your choice of parameters makes your task simpler in achieving your goals as you exactly know what you are looking for.
Based on your goals, your metrics can help you determine your performance. For example, if you are targeting to achieve more followers, then ‘reach’ can help you understand how you are performing in that.c. Decide Your Audience On Social Media
Trying to get everyone as your followers can, in reality, harm your business. Your brand may not apply to everyone. So you have to decide who you want to target for your product.
For example, if you are a brand that sells makeup products, you cannot target people who look for baby products. You will have a higher engagement if you target fashion influencers or makeup artists.
If there are several fake followers, then your social media page might lose its quality when compared to the number of reactions you get for each of your posts.d. Plan Your Social Media Platforms
This step can be done effectively only if you get your previous step right. Understanding your audience will help you understand the demographics better.
Demographics will help you know what platforms your audience uses better. If you figure out where your audience dwells, it is much easier to target them than sending out a message to a large group of people.e. Aspire From Your Competitors
Yes, competition is good because it helps you grow. There are several tools online that tell you what and how your competitors are dealing with your customers. Investigating how your competitors approach the target audience can help you deal with your strategies better.f. Be Social g. Evaluate And Investigate
Measuring your results is extremely important when it comes to social media. You spend money on content and promotion, and isn’t it essential to know if it is providing consistent results?
Also, by gauging where you stand, you will be able to analyze your social media strategies to see if they are helping you right. If you find that no good results are popping out, then you might as well revisit your social media marketing strategies to perform better. There are so many social media tools out there that will help you.h. Interact Better
Like mentioned previously, social media is more of interaction than a marketing platform. To make it look like that, one has to make sure that they are in touch with their customers.
These will make your page look more conversational than being rigid. This is another crucial reason why you shouldn’t keep exploring many social media platforms unless you are sure of covering this part on all of them.i. Relevant Content
The relevancy of the content is not just restricted to the nature of the audience but also the type of social media platform you use. For example, Instagram is to do more with pictures than long descriptive texts.
On the other hand, Facebook is a platform where you can share significant content on the description. So, plan and create suitable posts that will entertain your target audience.j. Be Consistent
There are millions of brands out there on social media. And not everyone remembers everything. Your presence on social media is known to people by your activities online. Posting for a week or two and then giving a gap will is terrible for there are high chances of you losing potential customers in that time frame.
To be consistent, you can use some of the many content calendars available online. This step of all is the most beneficial one. A content calendar will not only make your posts consistent and help you plan ahead of time but also makes your life much simpler.The Need For Having A Social Media Marketing Strategy For Your Brand
Social media marketing strategies help organize your businesses to an exceptional level, and it is necessary to know what your company objectives and goals are before you start creating a strategy as such. You should also make sure your social media accounts are set-up properly before you start posting and promoting.Conclusion
Social media is a great platform to run your business provided you do not mix up your ideologies with that of your brand. It is no wonder why the foremost important accounting principle; the business entity concept throws light on this. The principle states that your business is an individual entity and is different from that of the owner. So it is always good to consider this and make decisions from the point of view of the business as it will directly affect the target audience.
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