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Identifying Consumer Intent: Sentiment Analysis and NLP in Social Media | Analytics Insight, 06 sep 2020
eCRM: Everything You Need To Know! | Digital Market News, 06 sep 2020
Centre finalising guidelines for companies, brand ambassadors to prevent misleading ads | The Hindu, 06 sep 2020
Marketing in the Age of Resistance | Harvard Business Review, 04 sep 2020
The Elements of Branding and Why They Matter | Influencive, 04 sep 2020
8 Habits You Should Have for Quality Content Marketing | Content Marketing Institute, 03 sep 2020
The Conversational Style Of Marketing: Engaging, Empathetic And Attentive | Forbes, 03 sep 2020
Advertising for Cavemen: Exploring the Psychology of PPC Ad Copy | Search Engine Journal, 31 aug 2020
Why Digital Transformation Always Needs To Start With Customers First | Forbes, 30 aug 2020
10 Ways to Get Global PR Exposure | Entrepreneur, 12 aug 2020
Digital & Technology
Mohammad Anas Wahaj | 22 sep 2020
COVID-19 brought about changes in buyer behavior and retailers responded with tech-driven solutions to help them adapt to pandemic-driven restrictions. These solutions are not totally new, but current situation brought them to the fore. Three retail technology trends that became part of the 'new normal' are - (1) Online Grocery Delivery: Shutdowns, social distancing norms, fear of infections etc combined with essentiality of grocery requirements help exacerbate this trend. Even non-traditional retailers jumped on this trend. (2) Contactless Payment: According to the 2020 State of Retail Payments study released by the NRF in August, 58% of retailers accept contactless cards and 56% take digital wallet payments on mobile phones. Since January 2020, no-touch payments have increased for 69% of retailers surveyed, of whom 94% expect the increase to continue over the next 18 months. (3) Virtual SMB Product Pitches: Number of retail platforms invited small-to-mid-sized businesses (SMBs) to virtual competitions. COVID-19 brought about homogenization and consolidation of retail and only two types of retailers will survive in this scenario and beyond - the mass and the niche. Mass retailers can enhance their product offerings through SMBs and differentiate themselves from competitors. Read on...
Chain Store Age:
Three hot retail tech trends from the summer of 'new normal'
Author: Dan Berthiaume
Mohammad Anas Wahaj | 31 aug 2020
COVID-19 has brought about new challenges for brands and businesses. Changing consumer behavior, excessive use of social media, prevalence of fake news, fast spread of public opinion through internet etc has exacerbated the problems that businesses are facing. The large amount of content that is generated at this time is filled with mixed emotions - happiness, anger, fear, and disgust. Anubhav Mishra, professor of marketing at the Indian Institute of Management Ranchi, provides a solution for brands to follow to manoeuver through the current marketing challenges - a simple LAC Model - that stands for Listen, Act, and Communicate. He explains - (1) LISTEN: 'Social media listening is the first step, which most of the brands regularly do as part of their digital marketing strategy. Brands collect information and do a sentiment analysis to understand the emotions hidden in those tweets or Facebook posts. Sentiment analysis reflects what consumers are feeling about that brand. A careful filtering of the information should reveal consumer's expectations and challenges from the brand.' (2) ACT: 'The next step is to act on the information collected in the listening process...Brands should find innovative ways to act on the information to ease the pains of consumers.' (3) COMMUNICATE: 'A critical aspect of communication is to gather free media and support from consumers...A firm must resist the temptation to chest thumping which can severely backfire. Many people are dying globally and there is a general atmosphere of fear and mistrust...Consumers are showing signs of distrust and skepticism toward any communication. In such scenario, content must be created to show feelings of concerns towards the severe spread. Brands should reflect that they care for their consumers in these testing times.' Read on...
Mohammad Anas Wahaj | 26 jul 2020
For B2B marketing effectiveness segmentation is a reliable strategic tool. But with evolving B2B e-commerce marketplace traditional broad macrosegmentation may not suffice. According to the report, 'Microsegmentation Yields Contextual Customer Experiences That Convert' by Lori Wizdo (VP and principal analyst for B2B marketing at Forrester Research) with Caroline Robertson, Aldila Yunus and Kara Hartig, to fulfil the growing customer demand for more contextually relevant shopping experiences, B2B marketers should leverage new data and analytics tools and strategies to fine-tune macrosegmented audiences into microsegments. The report says that new data and analytics capabilities now allow B2B marketers to break macrosegmentation, that places audiences into large demographic groups such as company size, industry, geography and the end market served, down further into microsegments - covering, in addition to demographics, such criteria as customer buying behavior, record of sales growth, price sensitivity and aspirations - which allows sellers to reach even more targeted audiences. The report further says, '68% of buyers say it is important that vendors provide relevant content at each stage of their buying journey without having to rely on sales reps to deliver it. By targeting the drivers of customers’ actions, you can build trust through more empathetic, relevant content and accelerate the buyer's journey.' Some of the other valuable points of the report are - Microsegmentation will boost a B2B company's return on its content marketing and inbound strategies by using customer information to customize experiences that persuade and influence specific clusters of customers; Microsegmentation will help B2B companies build a high-yield marketing portfolio; Microsegmentation benefits both the B2B customer and the B2B seller because it results in more relevant shopping experiences for the buyer and increased conversions for the seller. Read on...
Mohammad Anas Wahaj | 25 jun 2020
User-Generated Content (UGC) is getting more prominence for charity marketing and communications in the COVID-19 pandemic turbulence. Charities are struggling with funds and resources and have substantially reduced marketing and advertising spends. UGC helps charities in creating content to promote their brand, do fundraising, and advertise their accomplishments. Content created by those who were directly supported by charities is more authentic and relatable. When users share their stories they connect better with potential supporters. Following are the ways UGC benefits charities - (1) Marketing budgets are shrinking and UGC can provide a practical, cost-effective solution amid cuts, through users becoming charities' ambassadors online through videos, blogs, podcasts and social media posts. Hiring marketing agency is costly and current social distancing norms are restricting professionals to do location filming. The National Council for Voluntary Organisations (NVCO) has estimated that UK charities lost around £4 billion in the first three months of the COVID-19 crisis. According to COVID-19 Marketing Report by Influencer MarketingHub, more than 2/3 (69%) of brands expect they will reduce their advertising spend in 2020 due to COVID-19. 3/4 say they are posting less on their social media accounts as budgets shrink. (2) Charity's frontline staff, beneficiaries and volunteers are able to enhance their digital skills during lockdown. Charities are certainly keen to empower their workforce to support users in creating content. The 2020 Charity Digital Skills Report found that half of charities would welcome guidance on helping their staff adjust to change and stay motivated and productive amid the pandemic. (3) UGC is more authentic and relatable. Last year's Stackla survey found that the public believes UGC is 2.4 times more authentic compared to brand created content. However, too often the power of UGC is not being realised by marketers. The survey showed that marketers are 2.1 times more likely to believe that brand created content is more authentic compared to UGC. Read on...
How and why User-Generated Content is changing charity marketing
Author: Joe Lepper
Mohammad Anas Wahaj | 23 jun 2020
COVID-19 impacted the retail sector and brought about unforeseen challenges. Recent study by Warwick Manufacturing Group (WMG) at University of Warwick (UK) and Blue Yonder examined how retailers have responded to the COVID-19 pandemic to ensure their survival. The study is based on the survey responses from 105 different retailers from Europe, Asia and the Americas and identified the human vulnerabilities across the supply chain and the need for future investment in flexibility, visibility and automation to improve future resilience. Some of the challenges that retailers faced are - unprecedented demand for some products while no demand for others; many stores were forced to close, or adapt their operations to accommodate social distancing; shift to online shopping wherever possible but it had its own operational challenges. REPORT HIGHLIGHTS - (1) The majority (61%) of retailers used inventory to buffer against the disruption of COVID-19. Supply chain processes and systems were effective, but more than half (58%) of retailers said a high degree of manual intervention was required to respond to the fluctuation in demand and supply. (2) Workforce issues were dominant issues for retailers with 59% of warehouse and 48% store operatives being affected by quarantine or illness. This often resulted in the closure of online operations and the need to recruit temporary staff. (3) Retailers were polarised in their treatment of supplier payments, with 37% delaying payments and 30% making early payments. Prof. Jan Godsell of University of Warwick says, '...only just over a quarter (29%) of retailers relied on suppliers with more agile manufacturing and distribution networks, which is a potentially more resource efficient and resilient response. With 75 to 80% of products seeing a demand fluctuation, retailers were slightly better at responding to decreases rather than increases in demand...' Wayne Snyder of Blue Yonder says, 'A critical learning for retailers is the need to invest in creating supply chains with greater flexibility, visibility and automation. Here technologies such as artificial intelligence and machine learning will play a key role in helping retailers navigate future disruption, whilst still meeting customers’ expectations.' Read on...
University of Warwick News:
New study provides insights into how retailers have responded to COVID-19
Author: Alice Scott
Mohammad Anas Wahaj | 22 may 2020
According to Wikipedia, 'Experiential marketing or engagement marketing is a marketing strategy that directly engages consumers and invites and encourages them to participate in the evolution of a brand or a brand experience...Consumer engagement is when a brand and a consumer connect. Brad Nierenberg says that experiential marketing is the live, one-on-one interactions that allow consumers to create connections with brands.' With experiential marketing brands can develop more interest among consumers about their products and services. Covid-19 has brought new challenges to experiential marketing. 13 experts from Forbes Agency Council explain the current and future impact that experiential marketing is likely to have on the industry and how leaders can adapt to its effects - (1) Continuing To Build Relationships And Leadership (Serenity Thompson, A23 Advisors): 'To play well as experiential marketing, virtual events will include moderated group breakouts, gamified agendas and in-app click-to-share social content at a minimum.' (2) Emphasizing The Power of Shared Experience (Steve Wilson, Wilson Dow): 'When delivering a virtual experience, keep a people-first approach.' (3) Reinventing Experiences And Platforms (Lili Gil Valletta, CIEN+): 'Experiences matter; we just need to innovate in where and how they come to life.' (4) Connecting With Audiences During Social Distancing (Jon Waterman, Ad.net): 'Whether it be through VR, playing an interactive game, attending a virtual concert or a live streaming demo, experiential marketing will move towards brand engaging audiences for experiences online.' (5) Offering Consumer-Level Multisensory Experiences (Hamutal Schieber): 'Experiential marketing can benefit from emerging technologies to create personalized, multisensory experiences.' (6) Delivering Personalized Experiences To Wider Audiences (Nicolas Van Erum, Sid Lee): 'Brands will quickly pivot to digital efforts...with greater avenues to track, measure and attribute consumer behavior.' (7) Leveraging New Technologies With Social Spacing (Jackie Reau, Game Day Communications): 'Experiential marketers will need to consider how to use new technologies with social spacing to connect with consumers in an engaging manner.' (8) Growing The Number Of Virtual Conferences, Activations (Scott Harkey, OH Partners): 'As we navigate through this pandemic, brands are challenged to pivot to provide a utility, adopt new technologies and continue to provide value and insight to consumers.' (9) Helping Brands Stand Out From The Crowd (Anna Crowe, Crowe PR): It will be an important part of an integrated marketing strategy to communicate brand stories and grow awareness and loyalty.' (10) Creating A Community (Dmitrii Kustov): 'They (brands) now have the opportunity to find real connections with their audience.' (11) Providing Immersive Experiences Via Influencers (Danielle Wiley, Sway Group): 'Influencers who provide enjoyable, immersive experiences boost brand visibility, build audience connections and drive action.' (12) Leveraging Augmented And Virtual Reality (Solomon Thimothy, OneIMS): 'Every company is ready for it. Apple and Android support it.' (13) Bridging The Gap With Video Demos (Francine Carb, Markitects, Inc.): 'By promoting technical experts as the heroes, customers can gain valuable insights, and companies can more intimately represent their brand.' Read on...
Mohammad Anas Wahaj | 20 apr 2020
Fake news at the time of crisis like the current COVID-19 pandemic is a double whammy that further adds to confusion and creates panic. Propagation of false and misleading information through social media and other tech platforms has multiplied. It not only exploits the emotional vulnerability of common public but also impedes and hinders the efforts to collectively and scientifically fight the pandemic and minimize its socio-ecomic effects. But an evergrowing group of Indian scientists have come together to create 'Indian Scientists' Response to COVID-19 (ISRC)' that is working to fight false information. It is a pan-India voluntary effort with more than 400 scientists across more than twenty scientific and research institutes in the country. It counts among its volunteers astrophysicists, animal behaviourists, computer scientists, mathematicians, engineers, chemists, biologist, doctors, social scientists and others. The purpose of the group includes analysing all available data and support national, state and local governments for evidence-based action, in addition to verifying and communicating information. There are sub-groups working on - mathematical modelling of disease spread and transmission, outreach and communication in simple terms for the public and media, translating basic resources in local languages, developing hardware solutions and apps. Aniket Sule, a science communicator with the Homi Bhabha Centre for Science Education in Mumbai, says, 'Since science communication is my area of interest, I volunteered to be a part of this effort. In this crisis, everyone has a role and each person can contribute by doing what they know best.' R. Ramanujam, a theoretical computer science professor at the Institute of Mathematical Sciences (IMSc) in Chennai, says, 'While people in the medical and healthcare community are doing their work, we thought, what about others like us, what can we do?' Rahul Siddharthan, a computational biologist at the IMSc, says, 'How an individual gets infected is definitely a biology problem, but what we are looking at is how an infection spreads in society, and we are dealing with large numbers of people. Physicists have a lot of experience in dealing with dynamical systems modelling, differential equations, and computer/data scientists can analyse the data that is available. It has to be an interdisciplinary approach and we need people to be talking and on the same platform.' T. V. Venkateshwaran, senior scientist at Vigyan Prasar, says, 'In a situation like this it's important to do two things, one is communicating to people that they need to be alert, not alarmed...The other thing is falling for wrongly circulated remedies and rumours. We need to counter all the misinformation going around so people feel at ease.' The group is putting together links, videos and articles in Indian languages and also working on translating others. Anindita Bhadra, an animal behaviourist and associate professor at IISER Kolkata, says, 'I am not an expert in virology or epidemiology or modelling, but I am interested in science communication so I thought I should help with that as well as translation. You need people who can transmit all this to the public.' Read on...
World Economic Forum:
How 300 Indian scientists are fighting fake news about COVID-19
Author: Bhavya Dore
Mohammad Anas Wahaj | 29 mar 2020
Global COVID-19 crisis has made content marketing vital for lead generation as all events and roundtables have been cancelled. According to the CMO Council's latest report 'Making Content Marketing Convert', only 21% of marketers are sufficiently partnered with their sales counterparts in developing and measuring demand generation programs, and most view their content marketing process as ad hoc, decentralised, and driven by internal stakeholder, rather than customer, interests. CMO Council's another report 'Better Lead Yield in the Content Marketing Field', highlighted the critical need for marketing organisations to bring more discipline and strategic thinking to content specification, delivery, and analytics. Donovan Neale-May, executive director of CMO Council, says, 'Marketers must act quickly and decisively to increase the impact, scope, reach and return of their content marketing investments in 2020.' The report said good content is vital in the selection of vendors, and peer-powered organizations are the most trusted and valued sources of online content - 67% of respondents named research and whitepapers from professional organisations among the most trusted content sources. The report recommends the following top 10 essentials for effective authority leadership-driven content marketing - (1) Partner with credible and trusted sources. (2) Produce relevant and compelling strategic insights. (3) Add customer-contributed views and validation. (4) Present authoritative, newsworthy and enriched content. (5) Engage qualified, verified and predisposed audiences. (6) Target the whole influencer, specifier and buyer ecosystem. (7) Embrace multi-channel distribution, promotion + syndication. (8) Authenticate content consumption and buyer engagement. (9) Ensure lead legitimacy and compliance. (10) Cultivate, activate and convert prospect flow. Read on...
Mohammad Anas Wahaj | 17 mar 2020
Social media has demonstrated its effectiveness for B2C and it has a lot to offer to B2B marketing when done with the right audience. Social platforms are all about interacting and engaging with people and B2B customers are people too. According to Forbes, 83% of executives use social media as part of their consideration of a vendor when making purchasing decisions. Of that group 92% said that they had been influenced by social media in a purchasing decision in the last year. Moreover, among B2B marketers, 82% prioritize social media marketing among their channels. Susan J. Campbell, founder of SJC Marketing, explains the benefits of going social with B2B marketing and suggests ways to do it better. She says, 'First, remember that sales and marketing are always social...Social media works for the same types of conversations...We also see social media as an opportunity to show off what we know...We offer content that we know adds value and allow our contacts to notice that we seem to have some insight to offer...This also ties in with your search engine optimization (SEO). When traffic makes it to your website via social media, it bumps up your search rankings.' According to Accenture, 94% of B2B buyers say that search is an important part of their purchasing process. Ms. Cambell suggests - Set clear goals along with related metrics to track success; Consider social media as an add on to overall B2B marketing; Develop a social media strategy focusing on conversations and engagement with potential buyers; Be consistent and share messages that target audience expect. Read on...
Business 2 Community:
B2B Social Media Marketing: Because Purchasers Are People, Too
Author: Susan J. Campbell
Mohammad Anas Wahaj | 27 jan 2020
According to recent ad industry reports large traditional advertising agencies are facing challenging times. Larry Light, CEO of Arcature (a brand consultancy), explains how the existing model of advertising that built the industry is undergoing transformation and how digital technology, changing human behavior, mobile phones etc is changing how brands communicate with customers. He says that if TV is watched in a mute then except for logos the ads of some big name restaurants are indistinguishable. 'This commonality in creativity is illustrated by the use of generic thinking,' he adds. He further explains the use of common phrases in various ad campaigns. He says, 'This kind of brand thinking is a reflection of the overuse of research testing over creativity. Asking consumers to be creative is a certain road to genericization of communication.' He quotes Ryan Reynolds, 'Ads are generally disposable pieces of content,' and comments, 'These advertising greats (David Ogilvy, Bill Bernbach, Mary Wells Lawrence and Phil Dusenberry) would be horrified to learn that advertising has been demoted to disposable, fleeting bits and bytes of single use creations. With the digital advances making short-term marketing spend easier to measure, the marketing focus has shifted away from long-term brand ideas...Advertising messages are now short-lived, disposable throw-aways, meant to capture someone's attention for a moment and then disappear in the ether.' He advocates, 'The primary role of marketing in general, and advertising in particular, is to create, reinforce and increase brand loyalty...Regardless of the small screen digitization of our world, a great advertising campaign can be a key driver for establishing and maintaining brand loyalty. Response to advertising is selective: experience with a brand strongly affects one's response to an ad and advertising can affect one's response to a brand experience. The most important effect of meaningful brand advertising is to build and reinforce brand reputation. Advertising helps to reinforce a customer's personal perceptions of the total brand experience...Brand loyalty is something that grows, slowly and incrementally. A brand can generate clicks and views but not necessarily build brand use or brand loyalty. However, if you are predisposed to a brand, you are more likely to be influenced by the brand messages.' Read on...
Mohammad Anas Wahaj | 10 dec 2019
Customers are at the core of any business. No one can think of products and services without thinking of their buyers. Profits are made with happy customers because they continue to buy products and services from those companies and organizations that keep them satisfied. They also recommend to others what they themselves like. For organizations to become truly customer-centric it is essential to create a customer oriented mindset and at the same time develop procedures and actionable tools to provide best possible customer service. This would also involve continuous training and learning on the part of customer service executives and workers. As the customer behavior changes over time with technologies so should the interactive behavior of customer service personnel to adapt to changing scenarios. But above all, the personnel who deal directly with customers should keep the care of customers in their mind and behavior at all times. Organizations should develop a proper framework for customer service excellence. Read on...
Mohammad Anas Wahaj | 25 oct 2019
Even though AI (artificial intelligence) and big data are enabling automation in marketing and customer interactions, enhancing consumer experience, saving cost and improving ROI, but customers still seem to prefer the great old human touch. According to the report by Calabrio titled 'Are You Listening? The Truth About What Customers Want in a Digital World', three out of four consumers in the US and UK are more loyal to businesses that give them the option to interact to human as opposed to only chatbots or digital channels. Morever, 37% even question the legitimacy of the company itself, if not given the option. Michael Brenner, CEO of Marketing Insider Group and author of 'Mean People Suck', explains how organizational empathy is the key to benefit from marketing automation along with becoming more human at the same time. He mentions limitations of AI, automation and martech - Complexity of implementation; Robotic customer service; Uncertainties in decision-making. He explains, 'When businesses use technology such as AI and automation to boost efficiencies, the outcomes will scale quickly. Managing the consequences calls for not just empathy, but alignment of "purpose" between the brand and its consumers. But while humans survive on meaning and a sense of fulfillment, machines thrive on clear instructions...By clarifying their strategic purpose, organizations can not only provide better customer experiences, but also increase brand loyalty, build a community, as well as foster a meaningful and productive work culture.' Kate O'Neill, author of 'Tech Humanist', says, 'Businesses that transform themselves digitally need to do so in a human-centric way and communicate their purpose to their customers.' Mentioning empathy as the missing link between AI and humans, Mr. Brenner says, 'Empathetic Marketing connects companies, brands, employees and customers in a harmonious, productive and win-win way. You might be forgiven for thinking that ROI and the bottom line is all that matters to companies. While authoring my first book 'The Content Formula', I stumbled on the counter-intuitive secret to selling: Don't talk about the stuff you sell. Then what should we talk about? I hear you asking. Show, don't talk. Show empathy towards your customers. Help, don't sell. Help them solve a problem.' Empathy is the only antidote for the phenomenon termed by Google's Noah Fenn as 'collective amnesia of marketers', where marketers begin to see 'people' as users, leads, personas, prospects, audience, cohorts or whatever label is the flavor of the day. Mr. Brenner suggests 'be human, do human' and in order to fix the brand-customer empathy gap, you need to ask (and honestly answer) yourself - Do you understand the core emotional motivators of your customers? Does your messaging resonate with these motivators?; Do you build a connection before you attempt a conversion?; Do you test your assumptions and biases for every marketing campaign?; Does your AI-driven revenue model incorporate the nuances of empathetic marketing? Read on...
The AI Paradox: Why More Automation Means We Need More Humanity
Author: Michael Brenner
Mohammad Anas Wahaj | 26 sep 2019
Utilizing technology to connect with audience & customers is effective and efficient. But, bringing the human element with personalization & customization, and engaging with them to build long-term relationships is even better. Best organizations often try to do that. Gabe Cooper, tech entrepreneur and nonprofit consultant, have suggestions for nonprofit organizations to build personalized communication strategies and making full use of automation technologies available. He says, 'When it comes to marketing software, in particular, nonprofits have long tried to make square pegs fit in round holes, getting locked into software and marketing practices that are fundamentally designed for for-profit marketing or that are based on legacy fundraising practices. This has resulted in mass marketing efforts that make your donors feel like 'sales opportunities' rather than crucial stakeholders in your cause.' Fundraising is an important activity for nonprofits and considering that they lack resources, it becomes even more crucial to be done right. He says, 'In our modern world, impersonal fundraising is a wet blanket on generosity, and that's a problem when you consider that nearly three-quarters of people who give a single gift never give again. They simply don't feel appreciated. That's where personalization through marketing automation comes in. Personalization allows each and every donor feel as though you're talking directly to them...Great personalization provides every donor with the right message at the right time based on their individual passions, capacity and relationship to your organization. Personalization, in this way, creates extreme loyalty.' He advocates a 3 point approach to apply personalization in nonprofit fundraising efforts - Know; Automate; Amplify. (1) KNOW: Gather as much information about your donors as is possible. (2) AUTOMATE: Use marketing automation software to send tailored messages - at the right time - based on what you know about each donor. (3) AMPLIFY: Use data analytics to understand what the right 'ask' should be. He also provides other ways to personalize marketing efforts: Keep the new donor campaigns running to engage them, and make them repeat donors; Use persona segmentation and apply the personalized content to connect with them; Utilize personalization technology/marketing automation that is designed specifically fo nonprofits. Mr. Cooper concludes, 'Taking a more personalized approach to your nonprofit fundraising efforts can result in more donor engagement, higher average gifts, big increases in donor loyalty, and most importantly, you donors will feel that they're part of your cause.' Read on...
Personalization Is the Engine That Drives Today's Givers
Author: Gabe Cooper
Mohammad Anas Wahaj | 24 sep 2019
Jeff Bradford, PR expert and President & CEO of Bradford Group, suggests that now it is imperative to think about business-to-business (B2B) marketing strategy the same way as thinking about building relationships. He says, 'We expect to gain something from our friendships or relationships. Potential customers have the same expectations. You need to prove your value. Tactics like targeted media exposure contributed content, influencer relations, social media, speaking engagements and website downloads invite potential customers into your company story as friends versus onlookers. A strategic B2B marketing approach builds a relationship with the customer by providing valuable, relevant and consistent content.' He provides 3 ways to build lasting customer relationships - (1) Get Social: According to GlobalWebIndex's latest report on social media trends 2019, more than one in three internet users revealed that they go to social networks when trying to find out more information about a brand, company or product; Share recent company news, media coverage and industry articles to keep a steady stream of content; Add CSR initiatives, videos and behind-the-scenes photos to enable deeper customer exploration of brand; Aim to win customer engagement and share content that encourages dialogue; Implement gated content. (2) Tell Your Story: Have a compelling story to reveal to potential customers, just as in new friendships; Each piece of content should invite customer to the brand; Highlight CSR efforts on social media and website; Welcome new faces to your brand by proving you have a clear vision and showing how they can be a part of it; Make sure to honor customer's time by using your social media, website and media exposure to explain how you can help solve your customer's problem, not simply sell your services. (3) Renew And Recycle: Extend value of content by updating and resharing to reach wider audience; Repurposing a blog post into a series of social media posts linking back to the blog, a YouTube video, an infographic or a pitch for a bylined article; Strike a balance between quantity and quality of content; Existing content can be a foundation to build more content. With all this done right will make marketing to businesses simple, making them brand friends and customers for life. Read on...
Mohammad Anas Wahaj | 18 aug 2019
Startups are enabling tech-based transformation of India's retail sector through Android-based smart PoS (Point of Sale) devices. The promise of these devices goes beyond payments and makes supply chain more efficient with data analytics and potential credit scoring. Vicky Bindra, CEO of Pine Labs, says, 'Retailers and merchants from diverse sectors such as electronics, food and beverage, fashion, pharmacy, telecom, and airlines are adopting the new smart PoS machines to improve their efficiencies and enhance consumer's shopping experience.' Praveen Hari of industry association iSPIRT says, 'Today a smart PoS device is not just accepting cards, but they can also provide UPI (unified payments interface) pull transactions, QR codes (displayed on screens), NFC (near-field communication) transactions, wallet transactions, or basically, any payment mode that is available in India.' Ashish Jhina, co-founder of Jumbotail, says, 'Today smart PoS machines can do four key business functions: payment, billing, inventory management, wholesale procurement.' Smart PoS data is also valuable for credit scoring. Mr. Hari explains, 'The GST data itself is good enough for a lender to make a lending decision and the shopkeeper or his FMCG distributor now has an incentive to report all the transactions. The transaction data itself can help a lender make a lending decision.' Manish Patel, CEO of Mswipe, says, 'We have engineered a credit model where when our merchants can borrow money (to make wholesale purchases) from any of our NBFC partners, based on data we provide...In terms of recollection, the merchant can opt to pay back in daily and monthly instalments.' Read on...
Wireless, smart PoS devices revamping India's retail landscape
Author: Salman S. H.
Mohammad Anas Wahaj | 29 jun 2019
Collecting the right customer data and then understanding it to create usable insights is the key to e-commerce analytics success. But, implementing an effective and efficient analytics strategy and selecting the best tools and solutions from among many that are available in the market is no easy task. Ateeq Ahmad, consultant and founder of Albany Analytics, provides a set of ideas and road map to build an e-commerce analytics solution that would finally be used for predictive analysis. Mr. Ahmad outlines the process flow as - (1) Setting up data collection within current data sources. (2) Merging all data sources into one platform and automate such a collection. (3) Analyzing patterns in these datasets to build reports and dashboards based on KPIs. (4) Based on past behavior of customers, create prescriptive and predictive analytics around key metrics and goals. Data that is collected should include transactional data, social interactions and offline customer data. At the stage of merging all data sources into one central repository there are two possible methodologies - build own data warehouse or buy it from market. Of course, there are trade-offs involved in this selection. The best option seems to be to go initially for an available data merging tool, as it is cost effective, and then once sufficient experience and ROI is obtained graduate to build it in-house. Analyzing data and translating it into valuable business speak that paves the way for data-driven decision making is an essential part of successful analytics implementation. To provide right and timely predictive analyses it is critical to have an analytics team with strong data science expertise. Read on...
Mohammad Anas Wahaj | 28 may 2019
Prof. David Dubois, who teaches marketing at INSEAD (France), explains that by customizing digital technology according to customer relationships can provide B2B companies competitive advantage. Marketing spend is not defining factor for success, but how well companies integrate technolgical solutions is. Prof. Dubois says, 'A company's digital investment does not necessarily translate into marketing return on investment (ROI). For that to happen the firm needs to build a digital marketing organisation – data-driven marketing capabilities around the customer. A pivotal and enduring dimension of success in B2B markets lies in the relationship a company has with its clients. Thus, identifying the type of relationships that you have or would like to have with your customers is an excellent starting point to select and embed digital technology into your strategy. And this process is increasingly important for B2B companies if they are to maintain growth even as digital disruption accelerates the shift from B2BigB to B2SmallB.' He suggests defining customer-centricity by relationship type. Susan Fournier of Boston University offers a useful framework by likening customer relationships to friendship and romantic relationships. Once this has been done companies should select a technology that matches the relationship. According to Prof. Dubois, getting customer-centricity right in the digital age involves three steps after the relationship is clearly defined - (1) Test and learn: Consider the technologies and communication channels that are adapted to strengthening each type of relationship. Companies would do well to test and learn strategies. (2) Match technology to client (3) Integrate tech and new practices: Understanding the customer relationship should be an ongoing process. One part of that solution is mining big data on social media and news outlets. Prof. Dubois points out, 'At a time when the giant markets of SMEs such as China and India offer unprecedented opportunities, the roadmap to customer-centricity has never been more relevant.' Read on...
Driving B2B Digital Transformation Through Customer-centricity
Author: David Dubois
Mohammad Anas Wahaj | 09 may 2019
Ad-free environment is an expected reality with subscription-based models, ad blocking tools and alternatives to traditional media already available. Marc Pritchard, chief brand officer at Proctor & Gamble, predicts that we're evolving into a 'world without ads' as brand engagement with customers changes with technology and consumer requirements. Gary Ellis, Co-founder and COO of Remesh, explains how branding will shift and survive in this ad-free environment. He says, 'There are infinite possibilities for filling the void left by traditional advertising. Success will depend on translating traditional advertising insight into new engagement tactics. Advertisers will need to focus on how they can fit themselves organically into their customer's experience, rather than disrupting a customer's experience as is often associated with traditional advertising.' He adds, 'Consider what is central to the brand building experience, which ranges from embedding tech in products to targeted ads. Pritchard predicts an increased desire for personalization, an interest in learning about a brand's values and more brand experiences. This means a brand's ability to connect with people on a human level plays an even more critical role in this new engagement paradigm. An emotional function will serve as the main connector, and one that can come in many forms.' He further explains, 'Targeted advertising is about two things: relevant content and demonstrating comprehension of customer needs. It stems from the desire to be 'helpful' – providing an audience with the information they need so that they can quickly and easily find what they are looking for. In an ad-free world, what were once targeting challenges can be avoided. This means not just focusing on personalization, but context.' Read on...
How Will Branding Survive In A 'World Without Ads'?
Author: Gary Ellis
Mohammad Anas Wahaj | 09 apr 2019
According to the recent report 'India Digital Ad-fraud Market 2018' by techARC, the total size of digital ad-fraud in India stood at staggering US$ 1.63 Billion, which is 8.7% of the global size. The report projects 23% increase in digital ad-fraud in 2019. Digital Commerce contributed more than half 51% of the total ad-fraud in India. While, Leisure & Travel (26%), Entertainment & Gaming (13%), Banking & Finance (8%), Healthcare & Pharma (1%) and Others (1%). Although, App Fraud contributes to over 85% of the total digital ad-fraud, the organizations should not ignore the web platforms. Web platforms are more susceptible to frauds as in several organizations the digital teams are primarily focusing on the app, leaving the web space vulnerable. As video is increasingly becoming the preferred medium of content, it is also attracting fraudsters to exploit this advertising channel. The report finds that businesses who have an ad-fraud solution in place are better equipped to have higher levels of customer engagements. Faisal Kawoosa, Founder & Chief Analyst at techARC, says, 'Digital ad-fraud is getting increased attention from the C-level leadership of evolved organisations, where it is no longer an agenda of a CDO or CMO. The impact of digital ad-fraud now goes beyond diminishing the returns on marketing spends and can jeopardize the entire digital transformation journey hampering Brand Equity, Relevance and Positioning among other ramifications.' Read on...
Mohammad Anas Wahaj | 03 mar 2019
Scot Henney (GVP of sales at SAP) and Marcus Venth (GVP of market development at SAP) discussed the importance of customer experience in the digital age with John Furrier and Dave Vellante, co-hosts of theCUBE at IBM Think event in San Francisco, US. Mr. Henney says, 'A new customer-experience domain is open up called the "experience economy". It brings the front office and back office together and adds in "experiential data" on end-users.' As more companies shift from products to subscription-based services, customer-experience becomes crucial. Digital provides more power to consumers and ease of switching brands. Customer feedback becomes valuable. According to Mr. Henney, '80% of customers have switched brands because of poor CX (customer experience) and companies that deliver better customer experience have more than 200% more shareholder value.' Mr. Venth adds, 'The 360 customer view that leads to stellar CX is not achieved with applications, data and professionals in silos. One of the biggest challenges we see [is]...where we have a highly customized environment with lots of disparate applications that really are poorly integrated.' Read on...
Analytics mine consumer brains in new 'experience economy'
Author: R. Danes
Mohammad Anas Wahaj | 14 jan 2019
Autonomous shopping concept intends to bring brick-and-mortar and internet shopping into a unified and integrated retail experience. The grab-and-go smart shopping carts promote cashier-free automatic check-out eliminating wait in lines. TechSpot's contributing writer, Cohen Coberly, says, 'While it seemed like brick-and-mortar retail would be all but killed off following the explosive rise of online shopping, what we're instead seeing throughout the US is not death, but evolution.' According to a 2018 survey by RIS News, 'The leading new shopping option wanted by consumers was "grab-and-go" technology (in which customers can self-checkout using their smartphones). 59% said they'd like to use this, and 9% had used it.' In a global survey of 2250 internet users conducted by iVend Retail and AYTM Market Research, 'Roughly 1/3rd of respondents said they would like to make automatic payments using digital shopping carts.' Caper is a smart shopping cart startup. Josh Constine, technology journalist and editor-at-large for TechCrunch, reports, 'The startup makes a shopping cart with a built-in barcode scanner and credit card swiper, but it's finalizing the technology to automatically scan items you drop in thanks to three image recognition cameras and a weight sensor. The company claims people already buy 18% more per visit after stores are equipped with its carts.' Linden Gao, co-founder and CEO of Caper, says, 'It doesn't make sense that you can order a cab with your phone or go book a hotel with your phone, but you can't use your phone to make a payment and leave the store. You still have to stand in line.' The current Caper cart involves scanning an item's barcode and then throwing it into the cart. Brittany Roston, senior editor and contributor at SlashGear, reports, 'The smarter version will eliminate the barcode part, making it possible to simply put the items in the cart while the built-in tech recognizes what they are.' Chris Albrecht, managing editor at The Spoon, also reports, 'The future iterations, already in the works, will remove the barcode and will use a combination of computer vision and built-in weight scales to determine purchases. The customer completes shopping, and pays on the built-in screen.' The concept of scanless carts involves deep learning and machine vision. Cameras are mounted in the cart. The screen on the cart gives the shopper different kinds of information - store map, item locator, promotions, deals etc. It recommends items based on contents already in the basket. Read on...
Next-level autonomous shopping carts are even smarter
Author: Nancy Cohen
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