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Are Businesses Dependent on Passion Economy Tools for Growth?

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Passion Economy tools are all about developing your brand from scratch, designing the digital identity of your brand, and later on, monetizing it to market the goods and services your brand produces. 

Think Entrepreneurship As A Trend in India?

With the advent of E-commerce companies like Meesho, online selling has become a trend. Starting from fashion products, daily wear items, customized gift shops, and various other products in different categories.  Though everyone wanted to start a small business, Meesho transformed the landscape with a mind boggling revenue model for retailers. Selling commenced from a WhatsApp group to the people you know and later on expanding that group to a website. Meesho was a game-changer for small businesses and retailers who are already in business.  At the time of penning down this article, there are 17 million Meesho entrepreneurs already operating. Moreover, most of the entrepreneurs are located in tier 2 or small towns.  Besides, an average Meesho entrepreneur earns a nominal salary of INR 74,224, barely enough to earn a living or to survive in a country like India.  So, to conclude, yes, Meesho has given rise to online selling and even broke the shackles of urban and rural areas, but still, the company is far from getting enough returns for its entrepreneurs.  The journey of starting your online business
  • Everything starts with an idea: This is a very popular thumb rule in the history of marketing. Before you start a business, you must have an idea of what you will sell, the revenue model, the expansion strategy, etc. That is why artists are selling artworks; women are selling fashion products or wearables. So, firstly you need to talk about the idea, and how it’s going to work.
  • Define your target audience: The secondary and one of the most important rules is to discover your target market. If you are selling Lipsticks, you need to identify the demographics of the buyer’s group who are buying your product. Age, gender, and even skin tone and texture matter. 
  • Decide a marketing strategy: In this case, suppose you are selling hand-made lipsticks, you need to decide how are you going to reach your target audience. You can use Instagram promotional tools, Facebook’s marketing tools, etc. All of this will come at a cost that will differ depending on the platform you are using. 
  • Make your brand’s presence on different platforms: Don’t forget, being social is a must in this epoch of social media platforms. Make a profile of your brand on every platform, where you think you will get your needed target audience.
  • Make your own website: To generate enough revenue, you need to work as per the desired metrics. One of the rules in today’s era is to create your own website, which will roughly cost you INR 25000 annually.
According to a report generated by Oberlo, 71% of businesses are registered on Instagram. Every other profile we pull up is either selling a product or a service. 7 out of 10 hashtags are branded according to a similar study.  Also, 80% of businesses suggest that Instagram metrics are the most important metrics, it is also a better choice for engagement rate. 71% of the active users on the Instagram app are under the age of 35.  As per the data revealed in the year 2019, 1.1 billion sales were conducted using Instagram.  India is Instagram’s biggest market with an active user base of 140 million users.  There is a total number of 1.386 billion users on Instagram, and every third person I come across is either selling a product or a service. In other words, 7 out of 10 people on Instagram are Solopreneurs. 

Join CallXP to Use the Best Passion Economy Tools

“Mostly blue oceans are created out of the red ocean,” quoted by W Chan Kim.  In the same way, CallXP is created, the world’s first digital toll line for content creator monetization. CallXP can increase the expansion of the Passion economy 3 times more than what it is now.  Suppose, if you are selling customized artworks like glass bottles, pillows, cups, etc. You have to create your own website to list the products, take care of the marketing and advertising, plus manage the payments, all of this will come at a huge cost and at the end you won’t even touch breakeven, or hardly reach the breakeven point.  Here, on CallXP, just by buying a license starting from INR 15000, you will be trouble-free from the hassle of making and managing your own website, because CallXP will provide you with your own website.  Benefits: 
  • Your own customized website. 
  • A safe payment gateway.
  • The platform will generate potential leads.
  • You will be able to check everything on the CallXP dashboard. 
  • The platform will market and advertise your brand.
So, being a passion economy player, are you excited to join us? Read More About the creator monetization platform