Author: fsstudio

In today’s dynamic business landscape, the path to success is paved with information. You need to understand customer behavior, predict market trends, and make data-driven decisions. And that’s where market research comes in. It’s the compass that guides businesses in making informed, strategic decisions. 

While conducting thorough market research can sound overwhelming, with the help of the right tools, you can easily streamline this process.

In this article, we’ll be looking at the best tools that you can use in 2023 for efficient market research.

Best Online Tools for Market Research [2023]: 1. Think With Google 2. Social Mention 3. SurveyMonkey 4. SEMRush 5. Statista 6. UserTesting 7. Ahrefs

1. Think With Google:

Think with Google is a resource provided by Google for marketers across the globe with information on several facets of digital marketing, including consumer trends, marketing strategies, industry research, and more for multiple channels. 

Source: https://www.thinkwithgoogle.com/ 

It also provides actionable guidance for business and marketing professionals, based on its insights.

Pros:

• It relies on vast amounts of data collected by Google from various channels, thus, making the information more reliable. 
• It’s a free tool that provides valuable information from numerous credible sources. 
• It also provides informative and inspirational case studies and success stories for businesses.

Cons:

• While it provides an overview of trends and patterns, it often lacks the in-depth analysis that certain businesses or research might require.
• The tool has a lot of information; it might be overwhelming for some users to find relevant information.
• The insights provided are usually generic and may not necessarily cater to specific business needs or nuances.

2. BrandMentions:

In today’s socially connected world, consumers are expressing their likes, dislikes and experiences across brands more than ever.

BrandMentions is like a giant, digital ear that listens to these conversations. It’s a search and analytics engine for social media that compiles user-generated content from across the digital globe into a single stream of information. You get real-time data on how and where your brand is being mentioned; this will help you measure your brand sentiment and its influence on your consumers. 

Source: https://brandmentions.com/socialmention/  

Pros:

• It offers a free trial, allowing you to get real-time insights into the social sentiment of your brand (free during trial).
• It aggregates data from more than100 social media platforms, making the monitoring process efficient.

Cons:

• It might be time-consuming to go through the sheer volume of data generated.
• It doesn’t offer historical data, limiting the scope for trend analysis.

3. SEMRush:

SEMRush is an all-in-one digital marketing toolkit. It provides detailed analytics on your competitors’ SEO strategies, keyword rankings, and backlinks. It also helps you with information on paid search advertising, content & PR, and social media performance. SEMRush is a goldmine of data that can help you identify market gaps and provide insights into new potential markets. 

Source: https://www.semrush.com/  

Pros:

• It’s comprehensive, providing a plethora of tools for various digital marketing aspects.
• It helps you identify your competitors’ successful strategies.

Cons:

• The cost could be high for smaller businesses or startups.
• It may have a steep learning curve for beginners.

4. Statista:

Statista is a statistics portal that consolidates data on over 80,000 topics from more than 22,500 sources. It provides access to data from market and opinion research institutions. It’s an encyclopedia of statistics, covering a wide range of sectors and categories, making it an excellent tool for comprehensive market research. Whether you need statistics on consumer goods, digital markets, or specific demographic data, Statista likely has the information you’re looking for. 

Source: https://www.statista.com/ 

Pros:

• It offers statistics, infographics, and reports across various sectors.
• It provides country-specific and global data.

Cons:

• Some data sets require a premium subscription.
• Not all data may be current or comprehensive.

5.  SurveyMonkey:

SurveyMonkey is a leading survey platform that enables businesses to gather valuable customer insights directly. It offers various question types, from multiple-choice to sliding scales, making your surveys customizable. It provides valuable data straight from the source, your customers, and can assist in making informed decisions about product development, customer service improvements, or marketing strategies. 

Source: https://www.surveymonkey.com/ 

Pros:

• It gives you insights into the customer’s thought process and experience.
• You get real time info as the customers interact with your products or services.

Cons:

• It can be expensive for small businesses.
• Test users may not always accurately represent your target audience.

6. UserTesting:

UserTesting is a platform that provides real-time user feedback. It reveals how customers are interacting with your product, service or website. As a result, you can understand user behavior, preferences, and vulnerabilities and make necessary adjustments to improve user experience and satisfaction.

Source: https://www.usertesting.com/ 

Pros:

• It’s user-friendly, with customizable survey templates.
• It enables you to collect qualitative and quantitative data.

Cons:

• While there’s a free version, advanced features require a paid subscription.
• Survey design requires skill to avoid bias and ensure the collection of actionable data.

7. Ahrefs:

Ahrefs is a powerful SEO tool suite that helps with competitor analysis, keyword research, backlink checking, and more.  It can help you to understand the reason why your competitors are ranking higher than you, and develop strategies to outrank them. 

Source:https://ahrefs.com/ 

Pros:

• It offers an extensive database for SEO-related data.
• It provides detailed backlink analysis and comprehensive keyword research tools.

Cons:

• The subscription can be pricey for small businesses.
• The platform might be overwhelming for beginners due to its complexity.

Tips for Effective Online Market Research

Online Market Research Tips for 2023: 1. Understand your goals 2. Diversify your tools 3. Be consistent and regular 4. Analyze & Act

1. Understand Your Goals

Before you even start your research, you need to have a clear understanding of what you want to achieve. Whether it’s consumer preferences, competition analysis, or identifying market trends, you need to define your goals, so that you can select the right tools and methodologies for your research.

2. Diversify Your Tools

Don’t limit yourself to just one tool. Each tool has its unique strengths and limitations. Use a combination of tools to get a more accurate picture of the industry.

3. Be Consistent and Regular

Market trends change rapidly. Regularly conducting market research can help you keep up with these changes and adapt your business strategies accordingly.

4. Analyze and Act

Collecting data is just the first step. Analyzing this data and converting it into actionable insights is what will give you a competitive edge.

Market research, once a domain of large corporations with deep pockets, has been democratized by the advent of these online tools. You can use these tools and tips to analyze a large amount of information to extract insights that can drive your business strategy.

Almost everything we know has become digital today. From making friends to shopping, most of the daily basic activities are happening in the digital space. The transformation brought by technology and digitalization has changed the way the world operates. And businesses have no choice but to adapt to this rapid global digitalization process.  

Digital Marketing is one such concept that has emerged as the result of digitalization. Today, it has become the go-to for businesses all over the world. No matter what kind of industry you’re in, you need to have a strong online presence to drive maximum traffic and generate greater conversions.  

In this guide, we’ll dive deep into understanding the fundamentals of digital marketing, how it works, and the various digital marketing strategies that different businesses should adopt. We will explain this with the help of case studies followed by pro tips. 

I. Introduction

Understanding digital marketing

In simple words, digital marketing is the process of using any digital media to have digital/online visibility and ultimately bring revenue to the brand or business. You’re reaching out to your customers online, bringing them to your website/page, and generating conversions.

Importance of digital marketing for different industries

The digital landscape is continuously changing, and everyone is adapting to digital change. Digital adaptation has brought changes to consumer needs, behavior, and trends.

Things were not like this five or ten years ago. The major advertisement channels were the 8 PM news and the newspaper front pages. The young people were just cluelessly exploring social media. Content marketing was being tested in the west and was completely unheard of in Nepal.

But now ads are digital, and you can target them to different demographics depending upon what you’re selling. They are very efficient in selling gardening tools to the dads as well as gaming consoles to the Gen-Zs.  On top of that, you can track every penny you spend on ads.

Content marketing is another hook that takes an audience from watching/consuming content to buying a product/service.

So, brands and businesses of any industry have no escape from implementing digital marketing strategies. It has become a must now.

Purpose of the guide

Digital Marketing is a relatively newer concept in Nepal; there are a lot of unexplored territories of digital marketing that businesses should know about. In this guide, we will get into the key elements of digital marketing that companies should focus on. And by the end, you will have an idea about defining your target audience, setting KPIs, and developing a roadmap for implementing digital marketing strategies. 

II. Digital Marketing for Retail Industry

Overview of the retail industry

We have witnessed a massive change in the retail industry within a very short period. Growing up, shopping was an event, much like going to the movies. Except for daily groceries, you would usually wait until the end of the month to buy clothes, gadgets, toys, or food, and it would take up your entire day. 

But things are different now. With the rise of e-commerce, technology, and digitalization,  the way people interact with retail businesses has changed. Thanks to the convenience caused by digital payment gateways, many people have almost completely ditched the traditional shopping experience. Now you can buy things on weekdays during lunchtime at your work or in the evening before you go to bed. On top of that, Covid-19 also brought a great shift in market trends, consumer behavior, and demand & sales cycle.  
Because of this, businesses have been forced to shift their business online as well. A recent study showed that global retail eCommerce sales increased by 27.6% in 2020, and in 2021, the figure grew by 17.1%. These figures are not decreasing anytime soon.

Source: statista.com

Therefore, to stay ahead of the competition, businesses in the retail industry should build a strong online presence, and operate digitally. This means they need to adopt effective digital marketing strategies as soon as possible.

Digital Marketing in the Nepalese Retail Industry: A case of Daraz Nepal

Daraz Pakistan was launched as a small online fashion retailer in 2012. In 2016, the company acquired Kaymu (which was operating in Nepal since 2014) and entered the e-commerce market in Nepal as ‘Daraz Nepal’.

Source: Daraz Nepal

Today, it is the most popular e-commerce platform in the country. And there are two reasons behind this: 1. continuous improvement in its operating procedure and 2. effective adoption of digital marketing strategies. In this section, we will discuss some of the major digital marketing strategies adopted by Daraz Nepal. 

Search Engine Optimization (SEO)

Search Engine Optimization is a set of practices that will help your website rank higher on the Search Engine Result Pages (SERPs). It is extremely important for two major reasons. The first one is that users also tend to perceive websites landing on top of SERPs as ‘the most trustworthy’. And the second one, users are less likely to click on websites that are below the top 5 positions on the SERP. 

In Nepal, whenever you look up a product online, the first website that you’ll see is of Daraz Nepal. This means that Daraz Nepal has effectively adopted SEO techniques. And we are going to break them down for you. 

1. Page Title & Meta Description:

Page titles & meta descriptions are what you see on SERP when you search for a product. While the home page of Daraz has made good use of the page title and meta description, the same cannot be said for many of its product pages. 

2. Mobile-Friendly Design:

The Daraz app is properly optimized for mobile devices. And even though people mostly use the Daraz app, the brand should make the website mobile-friendly. Doing so will help in a better ranking of the website. 

3. Internal Linking: 

There is a  well-structured internal linking system that helps users and search engines easily navigate the website.

Source: Daraz Nepal

4. Keyword Optimization:

Daraz has made excellent use of keywords for its website. But the practice is inconsistent throughout its pages. Some pages do not contain any keywords. Using keywords in the title tags, meta descriptions, headings, and body content, and optimizing for both short-tailed and long-tailed keywords can lead to better ranking in the SERP.

5. URL Structure:

Since the entire website for Daraz Nepal is dynamic, the URL structure for the website is complicated. The URL does not provide a clear hierarchy of categories and subcategories. However, they have included the product’s name and keywords in the URLs.  

Source: Daraz Nepal

6. Image Optimization:

While some pages have Alt tags and image titles, some do not. Daraz should add them to all their images to gain a better SEO score.  

7. Social Media Integration: 

Daraz Nepal has integrated various social media platforms, such as Facebook, Twitter, and Instagram for increased website visibility.

Source: Daraz Nepal

8. Backlinks: 

As one of the most popular e-commerce platforms in the country, Daraz Nepal has received numerous backlinks from various sources. However, the website needs to review the sources of backlinks for its authority and reputation. 

9. Load Speed:

Website load speed is extremely important to lower bounce rates. If the website loads quickly, visitors are less likely to bounce back to the SERP in search of alternatives. Daraz Nepal should make sure that the images, videos, and heavy content are optimized for both desktop and mobile so that the load speed for any page is less than 2 seconds. 

10. Product Content quality

As an e-commerce platform, Daraz Nepal has a lot of products on its website. But for many product pages, product descriptions are minimum. Many products do not even have the information required by customers to make a buying decision. Only a few sellers provide high-quality and relevant content to their users. 

Content Marketing

Content Marketing involves creating valuable & consistent content for customers. The content you develop is so valuable and informative, that users start trusting you. And this trust will eventually translate into transactions.

When you visit the website of Daraz Nepal, one thing is very clear. The brand has a robust content marketing strategy; different types of content in different formats are developed for different segments of the audience.

The content format includes a mix of images, videos, and text-heavy content such as blogs, how-to articles, or guides. Each content is curated to suit the platforms it gets distributed on. These contents are also developed keeping in mind the different stages of the customer journey. For this guide, we have divided the content into three parts: 

1. Daraz University:

Daraz University is a knowledge hub developed for sellers to inform them about Daraz’s policies, guidelines, tutorials, promotional campaigns for sellers to capitalize on, and various other useful information. There are webinars and recordings for sellers to help them sell better on the platform.  However, users must register as sellers to access even the most basic content at Daraz University.

Source: https://university.daraz.com.np/ 

2. Daraz Customer University:

Daraz Customer University is another section on the website with detailed information about the platform. The content here is meant to guide the users in understanding and navigating through the app. Every content piece is detailed, and most of the queries of the customers, especially concerning the app interface, have been addressed.

Source: Daraz Nepal

3. User-Generated Content (UGC):

Daraz posts and promotes the content created by its users on its platforms. This, in turn, will encourage other existing users to create content for Daraz. A very clever tactic in developing positive word-of-mouth, UGC strategy also helps in reaching a large audience organically.  One of the most successful UGC campaigns was the ‘Let the music speak challenge’, organized in 2021. Besides, Daraz also reposts the reviews and unboxing videos made by customers on its social media platforms.

Source: Daraz Online Shopping

Overall, Daraz Nepal has developed a comprehensive content strategy that is more inclined towards building a positive brand image and loyal customer base. This practice is rare in Nepal’s retail industry, as many contents are sales driven. As a result, many brands and businesses are missing out on the value provided by good content to the users, and eventually to the brands themselves.

Organic Social Media

Daraz uses different social media platforms such as Facebook, Instagram, TikTok, and Twitter. And the content on each platform is different from another. 

1. Facebook: 

Most of the Facebook posts are image-based, with few gifs and occasional video clips. And they mostly talk about offers, discounts, product launches, and campaign updates. This makes sense because it’s the older generation who mostly uses Facebook, and they could not be bothered with other types of content.

2. TikTok:

Daraz is the most active on this platform. The posts are mostly fun, upbeat, and entertaining. You will see product reviews done by influencers as well as behind-the-scenes videos of Daraz employees. These videos are meant to create familiarity and trust among the customers and give them a glimpse into the company & brand culture. 

3. Instagram: 

Daraz’s Instagram account has the most diverse content format. It’s a mix of gifs, images, reels, stories, DIYs, brand advertisement clips, clips from TikTok, promotional images, product feature images, etc. The content is trendy, fresh, and catered toward teenagers and young adults. 

4. Twitter:

While Daraz Nepal has a Twitter account, it rarely posts on the platform. Most of the posts are just announcements and updates. Since Twitter is not a popular social media platform in Nepal, the engagement rate is also very low.

One thing that is common with all these platforms is that Daraz Nepal is highly responsive to the comments, queries, and complaints posted by users. Also, an incredible tactic adopted by Daraz is mentioning the names of Daraz representatives at the end of the responses.  By doing this, commenters will feel that their concerns have reached the company. It also shows that the brand takes users’ feedback seriously. 

Paid Advertising:

With paid advertising, you can pay for advertisement spaces on various digital platforms and channels, and reach out to a larger audience. You can also retarget your customers to drive conversions.

Daraz Nepal practices various paid advertising techniques for targeting larger audiences, brand recall, and boosting sales. Some of them are

1. Social Media Advertising:

Daraz Nepal utilizes various social media channels like Facebook, Twitter, Instagram, etc. to reach out to its target audience. In this guide, we will look into their Facebook and Instagram ads. 

1. Facebook Ads:

Daraz has been running Images, Videos, Carousels, collections, Leads, Slideshow, Stories, and Messenger ads. These ads have different Call-to-Action (CTA) buttons. The brand also runs dynamic ads that promote products to users who have expressed interest in similar products on Daraz Nepal’s website or app. 

2. Instagram Ads:

The ads on Instagram are similar to Facebook ads. Accompanied by various call-to-action buttons, ranging from visit page, learn more, to buy now, Instagram ads are demographics-specific.  These ads are also customized to retarget customers who might have abandoned the cart before check-out. 

Source: Meta Ad Library 

2. Google Ads:

Google Ads allows you to advertise your products and services on Google’s SERP and partner sites. You have the option to target your ads based on demographics, keywords, and interests. This is honestly one of the most cost-effective ways of driving higher traffic and consequently, higher conversion. 

Some of the Google ad formats used by Daraz are: 

• Search Ads

Search Ads are a great way to promote brand awareness as it helps you display your website at the top of SERP when users search for specific keywords. Because Daraz is one of the most popular e-commerce platforms, it does not run a lot of search ads. They are only run for a select few products and product categories. 

• Display & App Ads

Display & App  Ads allow businesses to run various display campaigns on various web pages, mobile apps, and other websites. Display ads by Daraz Nepal appear in different forms, including banner ads, interstitial ads, and pop-up ads, on various blogs about e-commerce and online shopping, reputed websites, and mobile apps. These ads are a mix of images, gifs, and videos.

• Video Ads:

The skippable and non-skippable ads by Daraz appear on YouTube and other video websites. These ads are targeted to specific audiences based on factors like location, age, gender, or interests.

• Shopping Ads:

Shopping ads can help brands show product images and their basic information. These ads are extremely beneficial for e-commerce platforms. Unfortunately, many e-commerce platforms in Nepal, including Daraz, are not running any shopping ads.

Email Marketing

If you have ever been a customer of Daraz, you would know that the company sends regular emails to inform customers about its offers. These emails are personalized and have quirky, catchy & intriguing subject lines. The content is based on your purchase history, engagement level, and interests. You’ll also see high-quality images, and product recommendations based on your interest. Daraz also sends automated emails whenever a customer creates an account on the platform, or when items are abandoned on the cart. 

Influencer Marketing

As social media users, all of us know and follow at least a couple of influencers on the internet. We usually find them relatable or entertaining, and we usually keep up with their content regularly. Due to their loyal following, brands and businesses have started collaborating with influencers to increase sales. And Daraz is no exception. 

Daraz has collaborated with many influencers for various campaigns such as 11.11 and Daraz Customer University tutorials. And we can see that the collaboration has worked well for the brand; the engagement and reach of these contents are significantly higher. 

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Daraz Nepal, undoubtedly, is one of the biggest and most popular online retail marketplaces in Nepal. And this is not just because of its customer service and operational efficiency. The brand has also adopted a comprehensive digital marketing strategy that has allowed it to reach a wider audience, drive sales, and build a positive brand image and trust.

Pro tips for the retail industry in Digital Marketing:

• Know Your Target Audience:

Understanding the target audience i.e. demographics, interests, and behaviors of your ideal customers is extremely important for retail businesses. Make sure you develop tailored campaigns and content to better resonate with your audience.

• Consider all stages of the customer journey:

You should develop content for each stage of the customer journey. Having an all-inclusive content strategy that caters to different audience segments is the way to go! 

• Create a Strong Online Presence:

Check if your website is optimized for all devices, especially mobile phones. Create engaging content and post regularly on social media. You need to show that you’re available and active. Also try to respond quickly to the feedback, queries, and complaints posted by customers. 

• Use SEO to Increase Visibility:

By adopting various SEO tactics, you can attract more traffic to your website. Develop a strong keyword strategy, create original and valuable content, optimize your website for all devices, and build trust and credibility to earn backlinks to rank higher on SERPs.

III. Digital Marketing for Healthcare Industry

Overview of the healthcare industry

Our approach to dealing with health issues has been impacted by technology and the internet so much that the first thing we do when we have a health concern is to Google our symptoms. Our choice of a healthcare facility is also largely influenced by the information we find on the internet and the reviews of previous patients and visitors. This change in customer behavior, especially after the Covid-19 pandemic, has made digitization and digital marketing an important part of the healthcare business strategy. 

Digital Marketing in the Nepalese Retail Industry: A case of Vatsalya

Vatsalya is a fertility clinic that specializes in natural cycle IVF treatment. The clinic provides Infertility Diagnosis, Treatment, Fertility Preservation, Donor Treatment, and Antenatal Checkup services in Nepal. It is one of the most popular fertility clinics in Nepal, owing to its excellent patient care services and digital marketing strategy, giving it a wider reach across the Nepalese population.

Source: Vatsalya

Search Engine Optimization (SEO)

Vatsalya has adopted effective SEO practices to rank higher on SERP. Some of the them include:

1. Content quality

When you visit Vatsalya’s website, you will immediately notice that there is a lot of information that many other similar websites do not provide. There is information about their services and who those services are best suited for. The site also mentions the possible underlying conditions, prerequisites, and other important information for these services, that many users are not usually privy to.

Source: Vatsalya

Such information gives patients a general idea about what to expect before visiting the clinic. As a result, people are more likely to be open to the idea of visiting and getting consultations at Vatsalya.  

2. Meta Tags

Most pages on Vatsalya’s website have been optimized for meta tags. You can find unique meta descriptions with relevant keywords in the titles for each page. 

3. Mobile-Optimization:

The website has been optimized for mobile as well as desktop. The website is easy to navigate and the design is clean and structured.

Source: Vatsalya

4. Internal Linking: 

The internal links in the website have been set up keeping in mind the relevance and the relation between different pages in the website. 

5. Keyword Optimization:

Not every page on the website is optimized for long-tailed and short-tailed keywords. Most of the pages do not have any keywords. Therefore, it is essential to optimize every page with relevant keywords to rank higher on the SERP. 

6. URL Structure:

Vatsalya has a static website. Therefore, every page has a comprehensible URL with a  well-defined hierarchy. 

7. Image Optimization:

Alt tags are missing in some of the images on the website while image titles are missing on most of the pages.

8. Social Media Integration: 

The website has integrated all its social media platforms. 

9. Backlinks: 

Vatsalya has received more than 1K backlinks from different sources, and all of them are do-follow links. However, the domain authority score of some of these sources is low.

10. Load Speed:

The website of Vatsalya loads very quickly on desktop/laptop. Almost every page loads within 3-4 seconds. But, it’s not the same for mobile devices. While the website is not too slow on mobile, better optimization can lead to a higher load speed and better user experience.

Content 

Vatsalya, as a healthcare service provider, has a value-based content strategy. On the website, users can find helpful information about its services, blogs on infertility issues, news, FAQs, and other published pieces. Similarly, you can also find informative videos on the website. The pictures of babies born after successful treatments at Vatsalya give the website an emotional touch.

Social Media 

Vatsalya is highly active on Facebook, Instagram, and TikTok. Along with highly informative organic posts, the clinic is also running a few ads on Instagram and Facebook. The posts on TikTok are also similar to that on Instagram and YouTube. The Twitter account, on the other hand, has been inactive since 2020. 

Despite its presence on different social media platforms, Vatsalya maintains a similar content type on all its accounts. This is not an ideal practice because different platforms have different forms of engagement. By curating different kinds of content for different platforms, Vatsalya can boost its organic reach through increased engagement. 

Search and Display Ads

Vatsalya has targeted various Google Search Ads for different long-tailed and short-tailed keywords such as ‘IVF in Nepal’, ‘IVF cost in Nepal’, ‘Infertility Treatments in Nepal’, ‘Sperm Donation in Nepal’,  etc. These ads have proper headlines and meta descriptions. Similarly, the clinic is also running display ads on other related sites and pages.

Influencer Marketing

As a healthcare service provider for infertility treatments, Vatsalya has collaborated with various influencers in Nepal to promote its services.

Pro tips for the healthcare industry in Digital Marketing:

• Value-based content:

While it may be tempting to post promotional content to increase sales, healthcare service providers must develop content that provides value to their customers. By posting valuable posts on social media, healthcare service providers can build trust and credibility that will consequently drive traffic. 

• Testimonials work like magic:

The healthcare business runs on trust. Make sure you get testimonials from your visitors and patients and post them on social media to build brand trust.

https://www.facebook.com/vatsalyaivf/videos/221685497377963

• Show that you care:

Address your existing and potential customers’ concerns and queries as quickly as possible. Especially on social media platforms where your responses (or lack thereof) can be seen by everyone. In the comments, address the commenters by their names if possible.

IV. Digital Marketing for the Finance Industry

Overview of the finance industry:

The finance industry is made up of various financial institutions working collectively for the economic development of a country. It deals with confidential information and large sums of money which makes the industry highly sensitive, thus, highly regulated. This makes implementing new processes and technologies highly difficult, especially because technologies are developing so rapidly. So even if other industries can easily adapt to technology, the finance industry has to tread a bit more cautiously.

Despite the resistance, digitalization has had a strong impact on the finance industry. It has compelled the industry to introduce digital financial services to make them more accessible to customers all over the world. This also means the use of digital channels to reach out and engage with customers. 

Digital Marketing in the Nepalese Finance Industry: A case of NIC Asia Bank

Established in 1998, the NIC Bank merged with Bank of Asia Nepal in 2013, to become NIC Asia Bank.  As one of the most successful commercial banks, it is also one of the first banks in the country to successfully adopt digitalization. With its mission to become the ‘Digital First Bank’, NIC Asia is dedicated to building strong digital infrastructure and has made digital marketing an essential part of its strategy.

Source: NIC Asia Bank

Search Engine Optimization (SEO)

To rank on top of the SERP, NIC Asia Bank has adopted various SEO practices which are discussed below:

1. Content quality

Most of the content on the website is about the services and solutions provided by NIC Asia to its customers. The details of various account types, card and remittance solutions, loans, online applications, and Digital banking have been provided under respective sections. Similarly, if you are interested in any product or service, you can find all related details about the document requirements, terms and conditions, and other important information on the website itself. This makes the process of purchasing the solution much easier and faster. 

The website, despite having a lot of information, is easy to navigate and understand. The bank has tried to make its content as simple as possible, truly committing itself to ensure a seamless customer experience. 

2. Meta Tags

There is the use of keywords in the meta tags. The bank has tried to fit as relevant information as possible to make maximum use of the character limits in the meta tags.

Source: Google

3. Mobile-Optimization:

The website has been optimized for mobile devices. 

4. Internal Linking: 

The internal linking system is service-based, making it easy to understand and navigate through. 

5. Keyword Optimization:

The website has been optimized for keywords such as ‘nic asia bank’, ipo’, ‘bank vacancy’, ‘mero share’, etc. Except for a few pages, almost all pages contain relevant keywords.

6. URL Structure:

NIC Asia has a clear URL structure that reflects the hierarchy of the website. 

7. Image Optimization:

Alt tags are present in almost all the pages, while image titles are missing for most of the pages.

Source: SEO Meta in 1 Click

8. Social Media Integration: 

The website has integrated all its social media platforms. 

9. Backlinks: 

The website has received around 3 million backlinks from various sources.

Source: Semrush

10. Load Speed:

The load speed for mobile is higher than that of the desktop but is within the acceptable duration of 4 seconds. While the website interactivity is good for both mobile and desktop, NIC Asia should work on improving the visual stability of the website for both devices.

Campaign-based marketing

One of the best marketing tactics adopted by NIC Asia Bank is that every year it follows a specific campaign to promote its products and services. This year, the campaign was based on the use of the word ‘Sarbashrestha’ before the name of its products. This is an excellent way to create an association of the brand with the word and it works wonders for brand recognition and recall.

Source: NIC Asia Bank

Social Media 

NIC Asia is active on Facebook, Instagram, Twitter, LinkedIn, and TikTok. Despite its presence on all these platforms, the content is the same everywhere. There is no consideration of different audience segments, demographics, and preferences when it comes to creating social media posts. Most of the posts are promotional, except for a few educational ones. Also, the brand is not running any social media ads, which makes sense as it focuses more on TV & Radio commercials, roadside banners & flyers, and other traditional forms of marketing. However, running customized social media ads to target young individuals could increase its customer base.

Source: Apex Nepal

Despite its active presence on social media, the bank lags behind when it comes to dealing with customer responses. On Facebook, almost every response is robotic; there is no personal touch in them. The commenters are usually addressed with ‘Dear Sir/Madam’ and the lack of effort in even acknowledging what the comment is about is very clear.

The situation is even worse on Instagram, LinkedIn, and TikTok. The comments are not even acknowledged. You can see complaints and concerns posted by customers and there is no response made by the bank.

Source: NIC Asia Instagram

Email Marketing

If you are a customer of NIC Asia, you would know that most of the information about the bank’s campaigns, offers, updates, etc. is communicated via email. While most of the emails are generic, the bank does send some personalized emails to its customers.

Collab with influencers

Most of NIC Asia Bank’s collaborations are done with celebrities of the country. The promotional creatives for its products and services feature celebrities by almost every individual in the country. Currently, actress Manisha Koirala is the brand ambassador for the bank

While NIC Asia is yet to adopt a full-fledged digital marketing strategy, the effort is still noteworthy. 

Pro tips for the finance industry in Digital Marketing:

• Leverage social media ads:

Running social media ads with valuable content can help you reach out to your target customers. Also, these ads are a lot cheaper compared to traditional ads. 

• Acknowledge customer issues:

While it may not be possible to address each issue on a public platform in detail, it is essential to address them. Respond to their queries and try to give them helpful information if possible. If not, you can always ask them to visit their nearest branch to address the concern individually. Customizing your responses can also help you build a positive brand image. Sure it takes a bit more time but leaves behind a great impression.

IV. Digital Marketing for Hospitality Industry

Overview of the hospitality industry:

The hospitality industry deals with ensuring a pleasant customer experience. It’s all about making people feel comfortable, welcomed, and taken care of. Consisting of restaurants, hotels, cafes, resorts, and other facilities that people visit for a good time, hospitality is one of the most service-oriented industries in the world. 

The developments in technology and digitalization have changed the traditional hospitality experience everywhere. One of the biggest changes is the shift towards online bookings and reservations. Gone are the days when you would have to call a hotel or restaurant for bookings. Today you have the option to make reservations with a couple of clicks on your mobile. You can also compare prices, and look at reviews online to choose a restaurant or hotel through online review platforms. And hotels and restaurants have started using digital marketing to promote their brands and services.

Digital Marketing in the Nepalese Hospitality Industry: A case of Trisara

Trisara- Garden of Heaven, was established by three friends in 2011, and quickly rose to popularity, thanks to its incredible ambiance, service, and tasty food. With branches in Kathmandu and Pokhara, today, you will rarely come across someone who hasn’t heard of the place in the city. And one of the biggest reasons behind such enormous popularity is the restaurant’s digital marketing strategy.

Source: Facebook | Trisara

Social Media 

Perhaps the strongest aspect of Trisara’s marketing strategy, Trisara changed the way restaurants promoted their brands in social media. One look at Trisara’s social media accounts, and you’ll know why people love visiting the place. 

The restaurant posts high-quality pictures and videos of their customers having a good time, and the customers cannot help but share them. And the brand reposts them in its stories. A great way to organically promote the brand, Trisara has inspired other restaurants to follow the suit as well. 

@trisara_restaurant

TRISARA MOMENTS WITH NITI SHAH . #trisara #fyp

♬ original sound – T R I S A R A

But Trisara does not limit itself to just posting these pictures. The brand also promotes them in its social media ads. These ads usually feature pictures and videos of musicians who play live music in Trisara, celebrities, influencers, and popular media personalities, which is effective in gaining the attention of people. 

The brand occasionally posts pictures of the food and the cozy ambiance, but mainly focuses on creating brand recognition as a place that guarantees you a good time. 

Influencers & Media Coverage

Trisara has collaborated with influencers and online media portals to promote the brand. Popular media houses such as M&S Vmag, Kathmandu Post, Online Khabar, as well as food bloggers have covered content pieces for Trisara.

While the current marketing strategy has worked effectively for Trisara, developing a website and practicing effective SEO techniques can take the popularity of the brand to a new height. Since a lot of other restaurants have also adopted a similar social media marketing strategy, relying just on posting good pictures is not enough. 

People today like making informed decisions. And they rely on the internet to do so. If you do not have a website that can inform users in detail about your services, you’re likely to lose potential customers. You can flaunt your customers’ testimonials and positive reviews on your website, thus, establishing strong brand credibility.

Pro tips for the hospitality industry in Digital Marketing

• Have a website:

Web presence is a must in today’s world. Have a website and inform your customers about your services. People trust brands that have their own websites. 

• SEO for higher ranking:

Once you build your website, implement SEO practices to rank higher on the SERPs. 

• Use Email Marketing:

If you’re planning on introducing special offers, opening new branches, or if you have an incredible line-up for upcoming events, inform your customers via emails. Try to customize your emails as much as possible. You want to make your customers feel important. Remember loyal customers will advocate for you! 

V. Conclusion

This is a digital world. When everything is happening online, not having a strong online presence means missed opportunities for businesses. Therefore, get started on developing your digital marketing strategy today by following the tips highlighted in this guide. 

Also, a digital marketing strategy that works for one brand may not necessarily work for yours. In the end, it all comes down to your business goals, your audience, and your brand vision.

The history of digital marketing in Nepal is relatively short, as the internet and technology have only recently become widely available in the country. However, the use of digital platforms for marketing and advertising has grown exponentially in the past few years.

Internet Evolution in Nepal

The Internet was available globally back in 1990 A.D., and by 1993 A.D. The first clickable banner had already gone live. In 1994, Yahoo was launched. This was also the year the Internet was introduced in Nepal. However, it was only available through dial-up connections and was not widely used. This was followed by the introduction of Broadband internet service in the early 2000s which was mostly limited to urban areas. The service began gaining popularity in rural areas only after the Nepal Government started providing licenses for Internet Service Providers (ISPs) in 2004. And after the introduction of the mobile internet the following year, the use of the internet began gaining momentum in the country.

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With the advent of wireless technology, the efforts made by the government to increase internet penetration in rural areas, competition amongst ISPs, increased affordability, and the growth of mobile internet, Nepal has seen significant growth in Internet penetration in recent years. According to the Nepal Telecommunications Authority (NTA), the internet penetration rate in Nepal has grown from 24% (2017) to over 50% (2021) within just 5 years. Today, more than 35% of Nepalese households consume the internet daily.

Facebook: The gamechanger

When Facebook was first introduced in Nepal in 2008, it was primarily used by young people in urban residences. The older generations in the urban areas eventually followed the suit. However, it wasn’t until around 2010 that the platform began to gain widespread popularity in the country. And even more than a decade after its launch, Facebook remains the most eminent social media platform amongst Nepalese internet users.

Photo by https://unsplash.com/@austindistel 

For many years, Facebook was only a platform for connecting and networking in Nepal. Despite the launch of Facebook Ads in 2006, many were unaware of how they could capitalize on the platform for marketing. Thus, the companies, mostly small and medium-sized, resorted to using Facebook only to create their brand pages so that they could reach a larger audience to promote their product and services. This can be regarded as the first form of Facebook marketing in Nepal.

As the popularity of Facebook surged after 2010, companies started realizing its potential and using it for marketing. Over the years, the use of Facebook marketing has evolved from creating business pages to running Facebook ads. Businesses are also using the platform’s targeting options to maximize their marketing efforts. 

In Nepal, more than 4 million people use Facebook (2021), thus, making it the platform with the highest audience for businesses to target. While Facebook marketing remains the most effective form of digital marketing, one should also consider the increasing popularity of other social media platforms such as Youtube, Instagram, and TikTok.

E-Commerce and the rise of Digital Marketing

The e-commerce industry in Nepal started in the early 2000s with Muncha House. The industry, however, only saw significant growth in the early 2010s after wider internet accessibility. Sastodeal, which was launched in 2011, quickly gained popularity, thus, leading to the establishment of other e-commerce businesses such as Kaymu (later acquired by Daraz), Hamro Bazaar, and Daraz.

Source: https://www.usabusiness.co.in/e-commerce-websites-nepal

The initial phase in the Nepalese e-commerce industry was met with a lot of challenges. Lack of internet accessibility, low trust in online transactions and products, limited payment options, and delivery infrastructure made it difficult for businesses to penetrate the Nepalese market. But increased internet penetration and the number of online shoppers, fueled by global online shopping trends, led to significant improvements in the industry. Further, the potential of the industry was also recognized by the government, thus, creating a supportive environment for such businesses to prosper. 

As the e-commerce industry flourished, marketers realized they could drive traffic to their sites and increase sales through digital marketing. However, many e-commerce businesses in Nepal have yet to make the most of the numerous prospects offered by digital marketing completely.

Covid-19 turns a new page in the Digital Marketing Chapter

The impact of the COVID-19 pandemic has changed the market and the way businesses operate in Nepal. The lockdowns and social distancing measures have led to people spending more and more time on the internet. In fact, the dependence on the internet and digital mediums to communicate, shop, and access information, has grown significantly due to the pandemic. This led to businesses having no choice but to opt for digital marketing. Marketing strategies have shifted from in-person to online channels and events. From reaching out to the target audience to driving sales and conversions, every step of the consumer journey is driven by digital marketing strategies.

The rising wave of Influencer Marketing

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Influencers have taken the world by storm. Within a short period of time, they have successfully managed to gain the trust of their followers and create niches on the internet. Inevitably, Nepal is also seeing significant growth in the number of influencers and their followers. As a result, brands have started collaborating with influencers so that they can leverage the connection built by influencers with their followers.

The future is digital, and digital marketing is here to stay. Therefore, it is paramount that businesses in Nepal immediately adopt digital marketing strategies.