Great news: millions of small businesses, startups, freelancers are successfully using Instagram to sell their products and services. As diverse as handmade embroidered gifts, plant table cards, wedding merchandise, or custom painted stationery, businesses are growing audiences by sharing their stories.

The truth is, there are real and easy ways to crack it big. Check out three broad ways to get started. If you have a working laptop and a stable internet connection, you are ready to go.

But before that, let’s briefly look at why Instagram is an absolute giant force to reckon.

Instagram: World’s Greatest Platform

No kidding. Not Facebook, not YouTube, not even Twitter or Snapchat. De facto, Instagram is the world’s most powerful social media platform to make money.

On engagement metrics, Instagram is better than Facebook. On influencer marketing, it gets more billing than YouTube. Moreover, compared to YouTube, Instagram supports multiple content formats. Instagram has posts, brand stories, promotional posts, IGTV videos, testimonials, live videos, etc. Even as a news source, Instagram has a leg up over Twitter. What’s more, if you compare Instagram with emerging Snapchat, advertisers and marketers still put their faith in Instagram for its reach and impact.

Let’s also look at some fascinating data points that not many are aware of.

Unlike any other platform, the gender mix on Instagram is 51% female against 49% male. It makes Instagram an ideal, fertile ground to sell the most diverse range of products and services.

What’s more? Unlike any other platform, a massive two in three people interact with brands here. Even more impressive is that a whopping 90% of users follow at least one business account, while two in three visits come from non-followers.

Considering millions of business accounts sit idle, with basic planning and little initiatives, you can grow your reach quickly, in a few months if not weeks.

Let’s get to the three musketeers of the Instagram world that would help you generate more engagement, drive more traffic and stimulate more sales.

Create a Business Account

It seems pretty straightforward, right? Wrong! For not setting up and not optimizing their business account, business owners score low-quality points, can’t get their ads approved or run them as they wish. They neither get access to analytics nor can add links to stories or tag products. What’s worse, they can’t even schedule or boost a post.

Completing a new business account or switching to one from personal is easy. Just visit your account settings, switch to a professional account, select the business account, select your type of business, and you are done. The best part? It’s free. How to advertise and promote.

Quick Takeaways

• Connect Instagram business accounts from Facebook or vice versa for ease of ad management.
• Manage multiple Instagram accounts from one brand. Helpful to serve niche product lines, geographies, etc.

Advertise on Instagram

Now get as many likes, comments, and engagements as you want. Boost any post. Select your audience. Allocate your budget. Add links, clickable buttons, catalogs, photos as required. Then schedule and release. It’s as easy as that. Your ad will now appear across users’ feeds, stories and reels. The advanced advertising tool offers curated ad formats to sail you through design challenges. It also helps you track the performance of the campaigns.

Quick Takeaways

• Got two ads from the designer? Not sure which one will lead to more sales? Test which ads perform better with free tools from Instagram.
• Control your ad, budget, design, text anytime, even after the campaign is launched. Run the ads long if they perform well, or hold on to them if they aren’t.

Engage with Influencers

Instagram and influencers go arm-in-arm. Though celebrity and mega influencers grab the limelight, their cost versus return mostly leaves a lot to be desired. However, due to Instagram’s favorable “creator” policy, nano and micro-influencers generate high engagement and conversions. And, a variety of small businesses love them.

Small businesses cannot afford top influencers like Virat Kohli or Deepika Padukone. Throwing millions at celebrity influencers cannot guarantee results these days, and there might be product-personality conflict or issues with influencers overshadowing the brand. There might be product-personality conflict or issues with influencers overshadowing the brand. Thankfully, top influencers don’t promote everything under the sun.

Instead of traditional ad placements, sponsored placements are organic, trusted, and score well on engagement metrics. Reels, stories, Messenger, or IGTV, a sponsored post can be a great fit across all the content features.

Though influencers’ remuneration varies, here is a ballpark figure for a rough estimate. According to a report on NDTV, an average micro-influencer with 5,000 followers and 25 sponsored posts a year can make Rs. 50,000 a year.

Quick Takeaways

• Should you invest in influencer marketing? Considering content creation consumes time, labor, skill, and production costs, you may begin with nano and micro-influencers. How about Rs. 5000 a post to start with?
• Niche, friendly and relatable voices command a strong level of intimacy with their followers. By engaging with them, small and medium businesses can make the most of their precious budgets.

Conclusion

With over 1 billion users and 200 million businesses, Instagram is the most influential medium of our generation. By getting their business started on Instagram, merchants, freelancers, startups, SMEs can explore a world of opportunities. To make your presence felt and help you make money quickly, make use of the top three strategies for you that we have rounded up.

The post How to Successfully Grow a Business on Instagram? appeared first on PayU Blog.

The second episode of #ForgeWithPayU captures the story of a brand started by two visionaries, Midhula Devabhaktuni and Vishwanadh Kandula, who created an opportunity where there was none with ‘MIVI’. In this conversation with Midhula Devabhaktuni, Co-Founder of MIVI, we unveiled the story of how MIVI came into being. You’ll get a sneak peek into some interesting facts, about their journey to become the only audio electronics brand manufactured in India and how it grew in the last 6 years!  

Tap on the below video to find out how! 

Let’s find out more about Mivi’s Journey! 

MIVI was launched in 2016, and they began selling audio electronic gadgets manufactured in other countries. They wanted to start manufacturing in India but were unsure of the leap. There weren’t any other brands manufacturing audio electronics products in India. There wasn’t any trained skillset, but they believed #TimeIsNow to take the leap. 6 years later, MIVI is the only audio electronics brand manufacturing in India with an 85% female workforce. They wanted to do something for their country and combined their skillset to work towards the same. While researching the market in 2015, they found many gaps in the electronic segment. They started MIVI with two goals. They wanted to offer quality gadgets and excellent customer service. That’s where PayU came in. They began using PayU Payment links to send to their customers. As MIVI grew, it chose to integrate PayU as its payment gateway. 

Was Mivi’s journey inspiring enough for you to take your next step? Let’s do it together!

Have you watched our first episode of #ForgeWithPayU featuring the journey of Sleepy Owl? Click here to know more! 

The post #ForgeWithPayU | An Only Audio Electronics Brand That Manufactures in India, MIVI appeared first on PayU Blog.

In the first episode of #ForgeWithPayU, we’re here with the story of a brand that started a cold brew revolution and made its way to become a household name, Sleepy Owl. In this conversation with Arman Sood, Co-Founder of Sleepy Owl, we unveiled the story of how Sleepy Owl came into being. You’ll get to know some interesting facts & see their journey. 

Tap on the video below to find out how! 

Let’s find out more about Sleepy Owl’s Journey! 

In 2016 they researched the coffee landscape in India and found the best way to start was to take Indian coffee online. They set up their website with one product & in 30 days, they built a website, added PayU Payment Gateway, locked in courier service, and got the coffee rolling.   

They became India’s first cold brew coffee and delivered it too. As Sleepy Owl is an online brand, having a seamless payment experience was important & that’s where PayU held the fort for them. In the lockdown, they clocked 500 orders a day and decided to shut cash on delivery.  

They started selling one cup of coffee & today; they sell millions of them. Starting a business wasn’t as easy for them as it is today. Today everything happens at the tip of your fingers if you leverage tech well. 

They believed there’s never a right time to start because even if they fail, they’ll be young enough to start again.

Did Sleepy Owl’s journey inspire you to take your next step? Let’s do it together because #TimeIsNow! 

Have you watched our second episode of #ForgeWithPayU featuring the journey of Mivi? Click here to know more! 

The post #ForgeWithPayU | Story of A Brand That Brought Cold Brew Revolution, Sleepy Owl appeared first on PayU Blog.

What is Priority Settlements?

As the payment settlement process is time taking, we built a product that eases the problem of cash crunch in your business. PayU Priority Settlements enable you to get your online customer payments any time of the day in just 15 minutes. It works 24×7, supports all payment modes, and enables you to choose your settlement cycle.

Features of Priority Settlements

With Priority settlements, you get:

Round-the-Clock Settlements

Get round-the-clock payment settlement as it works 24 hours a day*, on weekends and on bank holidays

*All your settlements between 01:00 AM – 09:30 PM will be processed on the same day. Settlements between 09:30 PM – 01:00 AM will be processed in the next available batch.

Flexible Payment Settlement Cycles

Change your settlement cycle from T+15 minutes to T+1 day, as and when needed. Maintain cash flow in your business when required.

On-Demand Transfers

Transfer the preferred amount instantly when required to use it for your business operations. Get money on demand without worrying about payables & receivables.

Easy to Use

Activate priority settlements with a single click from your PayU dashboard. Ease the process of maintaining cash flow for your business.

Complete Clarity

View all your settlement charges on your PayU dashboard. Get complete clarity on all your receivables & payables right on your dashboard.

No Limits

Get settlements unlimited times in a day. Manage the financial needs of your business on the go without worrying about the cash flow crunch.

Benefits of Using Priority Settlements

Priority settlements by PayU enable:

Timely Payments

Make all the payments to your partners, vendors, and agents on time without giving second thoughts about your cash flow.

Consistent Cash Flow

Meet all your working capital expenses hassle-free without worrying about getting all your receivables on time.

Instant Refunds

Refund money instantly to your customers during large-scale cancellations easily and keep your customers happy.

How to Activate Priority Settlements for Your Business?

Here’s how you can activate priority settlements for your business:

Step 1: Open your PayU Dashboard and click on “Activate Now”.

Step 2: Choose your settlement cycle. 

Step 3: Once activated, you can see settled transactions on Priority settlements and filter as per your need. Click on any transaction to view the break-up of charges.

The post Benefits & Features of Priority Settlements that You Should Know! appeared first on PayU Blog.

Mivi is an audio electronics brand that started in 2016. The origin of the name Mivi comes from the names of Co-founders, Midhula Devabhaktuni and Viswanadh Kandula. Mivi is a D2C brand & that makes products with customer preferences by manufacturing and designing all products in India. They have more than 850 plus members on their team.

How Did Mivi Begin Its Journey?

Mivi started as an electronics brand. There were no technicians. They started with developing an Id team, then a design team, tech team taking a step forward one by one. In 2020, they started their manufacturing unit in Hyderabad. They were the first & the only brand to begin manufacturing in India. Hence finding a workforce that has experience wasn’t possible.

How Was Working with the Indian Workforce for Mivi?

At Mivi, they ensured that every employee has to be an Indian. It’s a core principle that they wanted to do something for India & this was their chance to do it. On being asked what the experience was like, Midhula said, “It was worth it”. Adding to this, she said, “It’s a very open environment; everyone is Indian, focused & driven”.

They started with a single line & 70 people in December 2020 & that’s when we launched their first product. They had eight lines and about 700 people within the next ten months. By the end of this year, they’ll have 1300 people on their team. It was a step-by-step journey. They figured out the entire process and took the leap of faith.

Here’s where Midhula talked about learning for every entrepreneur. She said, “It’s important for every entrepreneur to take the leap of faith because you are just starting it. Else the hustle in the process increases.”

How has the Customer Response Been for Mivi?

They launched their first Made in India product on 16th December & they manufactured units for a month. As “Made in India” is a very strong sentiment, they were able to give a better-quality product at better pricing & that’s what any customer looks for. Since then, their customers have a stronger relationship & bonding with the brand now. They truly support Made in India initiative.

What Makes Mivi a Unique Indian Brand?

Every country is different & so is India. India has unique tastes, preferences & environmental conditions. When it comes to electronics, devices sold in India are not made for Indians. Indians love bass and thrive on bass. In India, we get products based on the West’s preferences. & here’s where Mivi came in. They make a product first by figuring out what their audience needs, even environmental conditions. For example, a waterproof rating makes it dustproof & dust spoils electronics quickly. This makes Mivi different than the rest.

Midhula’s Advice to Budding Entrepreneurs

Here are the most significant learnings from Midhula for those starting their business journey:

• Don’t plan for where you are today but plan to where you want to get in tomorrow. It slows down your growth.
• There is no right time. Take a leap of faith.
• Today is the best time because you don’t have to risk everything to start a business

Check out this video to know more about their conversation.

The post Success Story of a Made in India Brand, Mivi appeared first on PayU Blog.

What is Priority Settlements?

Priority Settlements is a PayU product that solves the cash flow problems of your business. Get your online customer payments instantly & run your business 24×7.

Why Do You Need It?

As the payment settlement process takes time, it’s difficult to receive your online collections instantly. Here are a few problems that PayU Priority Settlement mainly solves for your business while reducing the payment settlement time:

• Making timely payments
• Needing cashflow to meet capital expenses
• Providing instant refunds to your customers

How Does it Work?

Once a customer pays you, the money is deducted from their account instantly. Money moves from your customer’s bank to your bank via the payment gateway. With PayU Priority Settlements, these customer payments come to your bank account in just 15 minutes.

Know more about priority settlements in this video.

The post Boost Cash Flow for Your Business with Priority Settlements by PayU! appeared first on PayU Blog.

A generic payment settlement cycle can be time taking but having a payment partner that can help you settle your customer payments quickly is a boon. Priority Settlements from PayU offers a comprehensive solution, transparency & flexibility for your business. It enables you to run your business 24×7 and keeps you from facing a cash crunch. Let’s understand what makes it better than normal settlements.

How is PayU Priority Settlement Different Than Normal Settlements?

Maintaining a healthy cash flow is very important in running any business. Often you can feel bogged down by delayed settlements on bank holidays and weekends. These features of priority settlements will help you maintain a healthy cash flow: 

Amazing right? Having a product that enables you to save time and ensures you don’t get into a cash crunch is always a good choice. Click here to know more benefits of using PayU Priority Settlements. 

Frequently Asked Questions

The post Is PayU Priority Settlement the Right Choice for Your Business? appeared first on PayU Blog.

PayU has upgraded the app for Shopify! Check it out here.  

It allows you to do much more with payments and covers you way beyond 31st July 2022. You simply have to follow the steps given in the video. 

Why Choose PayU’s Upgraded App for Shopify?

With the upgraded PayU app for your Shopify store you can: 

• Start accepting payments within minutes from over 150+ payment methods. 
• Grow your business by embracing the popular payment methods of India like UPI, wallets, BNPL, and EMIs along with debit cards, credit cards, and net banking to ensure a convenient as well as user-friendly experience for your customers. 

• Experience the most efficient way of initiating, tracking, and managing refunds with PayU. 
• Do away with the need to constantly switch your apps to manage your webstore and payments. 
• Initiate customer returns in just one click and track all your transactions right from your Shopify dashboard. 

Also read: How To Integrate Payment Gateway In Shopify? 

Benefits of Using PayU’s Upgraded App for Shopify

Ready-to-use solution

Plug in PayU’s payments solutions to your Shopify webstore without coding. Provide your customers a hassle-free experience.

Consolidated dashboard

Manage all your transactions, refunds, disputes, and settlements from your Shopify dashboard.

Insightful analytics and reports

Download data reports across segments and view real-time transactions to have a data-driven approach to your business.

The post Solved! PayU To Support Your Shopify Store Well Beyond 31st July appeared first on PayU Blog.

Let’s understand the importance of maintaining healthy cash flow first!

Importance of Cash Flow

Cash flow is the amount of money your business has at any given period of time. Maintaining a healthy cash flow: 

• Enables you to meet your financial commitments 
• Helps you plan for the future 
• Ensures smooth day-to-day business operations 
• Supports through ups and downs in sales, and unexpected expenses 
• Powers growth in your business 

Now that we understand the importance of cash flow, let’s find out ways to have a healthy cash flow.  

How to Maintain a Healthy Cash Flow?

There are several ways of maintaining a healthy cash flow & here are three of them:

Receive Your Payments Early

Reducing account receivable time is one of the ways of maintaining cash flow in your business. Here’s how you can reduce the time in which you receive payments in your account: 

• Shorten payment terms 
• Build a strong relationship with your customer 
• Reconcile payments frequently 
• Provide early payment discounts 
• Settle payments faster using Priority Settlements for PayU Payment Gateway 

Increase the Time to Make Vendor Payments

Here’s how you can increase the time in which you can make vendor payments without letting it affect your cashflow:

• Evaluate the relationship with your vendors
• Build a cash reserve
• Set up payment reminders
• Budget aptly
• Look for discounts
• Streamline your workflow

Reduce Unnecessary Spending

Here’s how you can reduce your unnecessary spending and maintain a cash flow that will go a long way:

• Track your expenses
• Manage your variable costs
• Identify processes that don’t add value
• Use expense management tools

Now that you know different ways of keeping a healthy cash flow, find the one that suits you the best. Click here to know more about how to get your Payment Gateway settlements faster.

The post How To Boost Your Cash Flow? appeared first on PayU Blog.

What is Settlement?

Settlement is a simple process by which any business can collect payments via a payment gateway. The settlement process is completed when the payment made by a customer reaches your bank account.

Payment Gateway Settlement Cycle

Here’s how the money movement happens.
There are three main stakeholders in a payment gateway settlement cycle:

1. Issuing bank is the customer’s bank
2. Payment gateway
3. Acquiring bank is your bank

Once a customer pays you, the money is deducted from their account instantly. Money moves from your customer’s bank to your bank via the payment gateway. This money movement takes T + 2 days. After deducting payment gateway charges, the remaining amount is then transferred to your account after T+3 days. This is what a generic payment gateway settlement cycle looks like:

In the case of card payments, the card networks connect the issuing bank & acquiring bank to enable online payment. The entire payment gateway settlement cycle remains the same.  

This table will help you understand how much time each payment mode needs to settle: 

As you can see, the money movement is not immediate and depends on bank processes. So now you know why you don’t receive your online collections instantly. 

Can We Fast-Track These Settlements?

Yes, there’s a way fast-track these settlements!

With PayU Priority Settlements, you can get your customer payments any time of the day in just 15 minutes. It works 24×7, supports all payment modes, and lets you choose your settlement cycle.

The post Payment Settlement Guide for Businesses appeared first on PayU Blog.