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How Digital Marketing Changed in 2020?

The year 2020 has changed a lot of things not just in our eating or living styles but has also brought a dramatic change in marketing as well. However, these changes will be carried out next year. Let us keep aside all the fiasco the covid-19 pandemic has created in 2020, this year a huge number of organizations underwent a large process of digitalization irrespective of their planning.

 2020 was a complete year of digital events, digital sales, and digital marketing campaigns. So what was all that changed the digital marketing scenario and the way of customer approach? Let us see in this blog.

To the point information

This year has taught a lot of certainties and brought fear among people due to the global pandemic. Going to this people are becoming a little tolerant when brands are talking about their services or products. Providing To point information as well as accurate and precise answers today questions has now become the most significant trend. Communication or promotion that is taking quite much of our time is not accepted by the customers anymore. 

Thus customers are more focused on their needs and are desiring to get rid of their issues as fast as possible through the best digital marketing service. 

Marketing is still the trailblazer

Today everyone is online and organizations are using the same digital strategies which is why they are not receiving desirable results. Hence there is a dire need for understanding our audiences and their needs. Also, it has become crucial to make an analysis of how our services or products are benefiting customers and how we can grow them.

To achieve all this marketing is the most efficient way because it collects consumer viewpoints and tracks how people are reacting to a particular message. It also helps us communicate that feedback to the concerned organization. In the B2B space, if sales and marketing are disconnected then it can prove a huge loss for the organization.

Updated content formats are better

Though content is still the king there are still some advanced formats available in the market that can surpass your expectations. Today there is a great demand for high-quality educational content that helps in bringing quality information from the experts. This all results in outstanding outputs. Besides long content, other formats such as video interviews, webinars, fireside charts, small content on Facebook or Instagram, are the rising pillars of digital marketing.

Spontaneous behavior is acceptable

Working from home is the new normal now and people have accepted this culture. This way your company video to be created from your home and making it without any studio lights is totally acceptable. What is more important is the quality of the content! The more educational and entertaining the content is, the more successful will be the digital marketing campaign. Thus generating video content is truly less expensive and time-consuming while it is bringing an incredible response from the customers. 

Matrix Bricks is the leading Digital marketing firm in Mumbai that offers outstanding services to its clients since 2005. Join us right now to enjoy digital marketing at an advanced level. Consult the market leader and digital marketing expert in Mumbai and elevate your business!

ROLE OF ASC 805 IN PURCHASE PRICE ALLOCATION

Purchase Price Allocation: When a company (acquirer) purchases another entity (target), it must allocate the purchase price to different assets and liabilities of the target as per accounting rules. 

Thus, Purchase Price Allocation is a method to identify the acquisition and assess the fair market value of its assets (tangible and intangible) and liabilities. The fair market value can be defined as the value a market participant would be willing to pay for the identified assets.

The amount left after the allocation of a purchase price to different assets and liabilities is allocated to goodwill.

To ensure purchase price allocation is done correctly, accounting standard guidelines that can dictate the requirements are needed. This is where ASC 805 standards can be helpful.

ASC 805 Valuation

Accounting Standards Codification (ASC) 805 is a modified version of the previous accounting standard known as FAS 141. The main difference in the new version lies in the treatment of contingencies. 

According to the newly established ASC 805, contingencies are calculated and listed on the date of the acquisition, while under FAS 141, they were dealt with after the agreement was finalized. Thus, ASC 805 is a user-friendly approach that makes information more accessible and understandable for all.

To date, GAAP rules governing business combination and acquisition have undergone modification and are known by various names such as FAS 141, FAS 141r, and more recently, ASC 805. In general, they can be referred to as purchase price allocation standards. 

ASC 805 is a broad concept and there are various sections that give guidelines for different types of acquisitions.

Asset Acquisition

Asset acquisition refers to the purchase of an asset or a group of assets that cannot be defined as a business. Therefore, such an acquisition is not as per the set definition of a business combination.

The accounting for these transactions comes under a subsection of ASC 805-50: Acquisition of assets rather than a business. The accounting for asset acquisitions is carried out using a cost accumulation model. 

Hence, the cost of the acquisition, including transaction costs, is allocated to the assets acquired on the basis of relative fair values, with some exceptions. This is completely different from the accounting of a business combination, which is performed using a fair value model. 

In this process, the assets and liabilities are accounted at their fair values, and the difference between the consideration paid, excluding the fair value of assets and liabilities and any transaction costs, is recognized as goodwill or, in unusual circumstances, a bargain purchase gain. 

As a result, there are differences between the accounting for asset acquisition and that for a business combination. Therefore, ASC 805 provides the framework required for the accounting of asset acquisition and is an important aspect of purchase price allocation.

Market Size Analysis: Critical Process For Judging Potential Markets

 Market size analysis is a critical component of business plan designing. The analysis helps estimate the potential of a business as well as to measure its outlook. Also known as Market Size Estimation, the process enables the assessment of business opportunities, accurate planning of marketing and sales budgets, and estimation of the growth of a business.

Market size analysis is a complex and data-intensive process that comprises the following:

1. Classifying the market – The first step involves the classification of the target market into Total Available Market (TAM), Served Available Market (SAM), and Share of Market (SOM). TAM refers to the total revenue potential of a specified market; SAM is the percentage of TAM that the concerned company can service based on the product, technology, and geographic capabilities; and SOM refers to the fraction of SAM that the company serves or plans to serve. Historic details as well as future projections would enable accurate strategizing.

2. Determining the approach – The top-down and bottom-up methods are the two approaches used to develop market size estimation. The top-down approach involves the determination of the total market value followed by the estimation of the company’s share in that market. The bottom-up approach is more refined; the company must first identify target customer segments and then estimate their market size and growth potential using this approach.  The use of both these methods is recommended to ensure accuracy.

3. Selecting the sources – Both primary and secondary research can provide data sources for market size analysis. Secondary research is easily doable and requires less effort; however, primary research can strengthen the understanding of the market and help make better-informed assumptions. Data can be collected through in-depth telephonic interviews, on-site visits, mystery shopping, and face-to-face/in-person meetings.

4. Analyzing the data – The final analysis of the data is done to reach the correct estimate of the potential market. First, the data is structured; the process of structuring qualitative data into groups or sub-heads to identify trends is known as typology. It allows quick analysis through a comparison of information present in the same “cluster.” Quantitative data or estimates are arrived at by triangulating multiple data sources generated by applying different approaches or sources. This leads to accurate market size estimation. Additional research can be undertaken to further confirm the analysis.

5. Deriving market size estimates – The market size is estimated using the above processes, which helps the business to judge the market potential.

Market size analysis serves as the foundation of a solid long-term business plan. The analysis determines the need and potential sustainable demand for the product. It is an essential exercise for start-ups, as identifying the need and demand for their products would help them attract investor interest. Established businesses should also undertake this exercise regularly to ensure their offerings remain relevant to customers' ever-evolving preferences.

Horizontal Window Blinds Vs Vertical Window Blinds

 Typically window blinds are available in horizontal or vertical options and different material options such as wooden vertical blinds or vertical fabric blinds, horizontal wooden blinds, etc. In horizontal window blinds, there are many slats placed horizontally on top of each other and connected with a string that allows rotation to regulate the flow of light between the slats. In vertical window blinds, the slats are placed vertically side by side.

 

How to choose between horizontal and vertical window blinds?

There are certain key points that you should keep in mind while choosing the type of window blinds for your home.

 

Type of window: The choice of blinds depends on the type of window that you are looking to cover. For windows with large sliding doors, the vertical window blinds will be the best option. They are easier to move compared to the horizontal window blinds for such windows. However, if you are covering tall and narrow windows then you should go for the horizontal option. Horizontal wooden blinds have thinner slats that are sturdier than the vertical fabric blinds.

 

The direction of the sun: Vertical window blinds are best suited for east or west-facing windows. However, horizontal blinds are usually seen on windows that face north or south. The reason behind this choice is the angle of sunlight that comes in. You can adjust the horizontal blinds up and down to block or allow light to enter. However, windows facing north or south will not have direct sunlight coming in, so the wooden vertical blinds suit them better.

 

Maintenance: One of the major considerations in choosing window shades has to be maintained. Vertical blinds are considered to be easier to clean since dirt doesn’t accumulate on them. Horizontal blinds also have strings and various other mechanisms which make them a bit more complex to clean. Also, while cleaning horizontal blinds, you need to swipe the slats twice whereas in vertical blinds you can dust a whole section in just one sweep.

 

Privacy: Privacy has always been a major consideration behind installing window shades. In this regard, the horizontal window blinds prove to be a better option. You can completely control the blinds and there is complete freedom to fully open, half-close or fully close them as per your privacy requirements. Compared to horizontal blinds, light passes more easily through the vertical blinds, and also one can easily open the slats to peep inside.

 

Where to buy?

Both, horizontal and vertical window blinds can be easily purchased online here.

 

Benefits And Types of Window Blinds

The Sun shines really bright in India. To make your home comfortably cool during the summers, you need good quality window shadings. While there are so many options such as curtains, the most popular window shades today happen to be window blinds. The reason why they are so popular is the much greater control they offer over other conventional window drapes. There are different types of window blinds and let’s take a look at their benefits.

Types of Window Blinds

• Venetian Window Blinds: The Venetian Blinds are one of the most popular types of window shadings that can be installed at homes, offices, or luxury hotel suites alike. They are opulent and never fail to make a style statement. They are available in various materials such as metals, insulated glass, plastic, and wood or faux wood. You can choose the colour or material to synchronize with your home décor. Hence, you have plenty of options to drape your windows. 

• Window Roller Blinds: When it comes to choosing a stylish window covering for your home, there are not too many options that can compete with window roller blinds. They are ideal for large windows or French windows. They are so stylish, smooth and nowadays you can get motorized roller blinds installed at your homes. They offer stunning designs and operate noiselessly. Roller Blinds are easy to install and they give you the option of choosing from different fabric opacities or colours. 

Benefits of Window Blinds

Window blinds offer you numerous benefits which make them a great window covering option. They are easy to install and come in a wide range of materials such as plastic, fabric, metals, wood or faux wood, etc. Moreover, there is almost an endless variety of colours and texture options to choose from. Another benefit of window blinds is that they are more durable and effective in blocking the harmful UV rays from the Sun compared to curtains. 

Window blinds offer excellent diversity, sunlight control, and privacy options to drape your home windows in style. You can explore great window blind options and easily buy them online here.