Dear VBS,
My objective is to be an entrepreneur, and I
am thinking to start an e-commerce outlet for Fashion verticals. But, my budget
very low and so far I couldn’t find any financial help or investors to fund me.
Could you please help me to get some publicity within my shoestring budget
limit?
Sir,
E-Com mania is getting tamed and
mellowed slowly now. The investors are cautious and they don’t invest that much
initial investment in any stat ups so soon. Those start-ups swallowed a lot of
money have yet to show any sign profit, most probably profit for them far from
reality. Let us talk about a leading Indian e-coms. How many of them are making
profits? As far as I know the latest one declared loss of around Rs.40-50 Crore
and their revenue-sale increased up to around Rs.1000 Cr.
According to me, a business, not
a business unless it makes some profit; Paying discount to buy a product; that
is again under priced for whatever may the means of income or source giving
away is not justifiable.
However, I will suggest you to
use free tools and platforms to popularize your new venture. Start with a short
film on social media, and still poster on Pinterest on all fashion products you
sell. On and off run a quiz competition for the target audience again on the
free platforms to get a community you are looking for. Once your products are
attractive and you have loyal customer base the road ahead will be smooth.
Ask the public to submit a design
they want to buy. Launch a few of them you select and give some prize to those who
submit the designs. Your good will increase as you are engaging the end
consumer from the designing level itself instead of asking them to buy what You
sell.
Do not venture into print ad
because there are many TV channels you can rely on low cost with better reach
and visibility. Radio is an option, but I found many FM channels are costlier
than TV programs. But, TV programs get you better mileage than an FM channel.
Regards
V Bright Saigal – :Brand Doctor-
Creative Consultant and Media Buyer.
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