Business & Finance

Mohammad Anas Wahaj | 26 nov 2018

In today's businesses, digital is one of the critical component that defines their growth and success. With digital and related analytics, organizations can easily track and create insights to better understand consumer behavior for their benefits. Gabriel Shaoolian, founder of DesignRush, provides valuable statistics in marketing, website design and branding for efficient online strategy and subsequent online success - (1) By 2021, mobile e-commerce will account for 54% of all online sales. (2) 38% of users will stop interacting with a website if the layout is unattractive. (3) Long landing pages generate up to 220% more leads than above-the-fold calls to action. (4) Color improves brand recognition by up to 80%. (5) Consistent brand presentation across all platforms increases revenue by up to 23%. (6) 64% of consumers say that shared values help them create a trusted relationship with a brand. (7) Content marketing efforts receive three times the leads per dollar spent than paid search receives. (8) 64% of consumers make a purchase after viewing a branded social video. (9) Facebook Ad revenue in the US will surpass total print ad spending by 2019. (10) Email has a median return on investment of 122%. Moreover, he suggests the following key points to be noted for digital strategy - Create an easy-to-use website that works on all platforms and devices; Design a memorable brand identity that communicates well with consumers; Maintain an honest and transparent relationship with customers; Invest in content marketing and social media advertisements; Test video marketing campaigns to engage users; Don't forget about the power of email marketing. Read on...

Forbes: 10 Marketing, Web Design & Branding Statistics To Help You Prioritize Business Growth Initiatives
Author: Gabriel Shaoolian

Mohammad Anas Wahaj | 30 oct 2018

When one thinks of marketing, Northwestern University Professor Philip Kotler's name comes right at the top. He is author of the most used marketing texbook in business schools, 'Marketing Management: Analysis, Planning, Implementation and Control', alongwith another 57 books on the subject. Speaking with Paul Talbot, President of a marketing strategy firm Southport Harbour, Prof. Kotler shares his views on the role of CMOs (Chief Marketing Officer) in today's business organizations. Regarding their skills and talents, he says, 'In the 1960s, marketers were hired for their flair for advertising and creativity...Today, we need CMOs with a different skill set. CMOs must be expert at digital marketing...Information and mathematics are crucial. Companies need in-depth information about their customers’ individual beliefs, values, media consumption and channel choices. Marketers today use multiple regression analysis, cluster analysis, discriminant analysis, and predictive analytics to yield customer insight. Marketers increasingly make investments in...social media. CMO has to have good creative marketers on the staff to bring up bright new ideas. The tech approach to marketing is more about efficiency. Marketing creativity and imagination is about winning big.' Regarding collaboration between between marketing teams and others in the organization, he says, 'Back in the 1960s, companies didn’t have a CMO. They had a powerful vice-president of sales who was the driving force. They had added a vice-president of marketing whose job was primarily managing marketing research and preparing advertising and sales promotions...The chief marketing officer concept emerged as markets grew more complex and competitive...who would participate in finding and shaping what the company should produce, in identifying the target markets, and evaluating the overall company strategy...CMOs need to be effective in the following relationships: ...The CMO had to 'carefully' educate the CEO to understand marketing's potential and limitations; ...the CMO and CFO would work together to find and agree on the best way to measure the return on marketing spend; ...I view R&D people to be the masters of what is possible. I view marketers to be the masters of what is valuable; ...If those two executives (CMO and VP of sales) don't get along, the company’s financial performance is doomed.' Read on...

Forbes: Northwestern Professor Philip Kotler On Today's CMO
Author: Paul Talbot

Mohammad Anas Wahaj | 26 oct 2018

Sustainability is evolving into an essential component of fashion and design industry due to environmental concerns. The Brooklyn Fashion + Design Accelerator (BF+DA), a Pratt Institute (US) initiative, is a hub of ethical fashion and design, providing resources to design entrepreneurs, creative technologists and professionals to turn ideas into businesses. Debera Johnson, founder and ED of BF+DA, also established the Center for Sustainable Design Strategies at Pratt Institute and has been integrating sustainability into art, design and architecture programs. She says, 'There are really three things that we're focused on doing. First - redefining the fashion industry around the environment and society...Second - we have production facilities open to designers. Our goal there is to be a local resource for sustainable production and to help educate designers about how to implement strategies around efficiencies and sustainable supply chain...The third and probably the newest part of what we're doing is becoming a research and design center for the integration of technology into smart garments and functional textiles - and, most importantly, with the idea of sustainability alongside it.' Regarding consumer perceptions, she says, 'Consumers need to decide whether they're more interested in saving pennies or saving the environment. Products that are quality are going to cost more. We just have to decide where we stand...At BF+DA, transparency is a big piece of how we do storytelling...' Regarding coming together of technology and sustainability, she says, 'The digitalization is one of them. I also think that biotech is creating really interesting materials in laboratories and not farms...Then you also have things like blockchain to help with traceability...And there's also nanofibers.' Read on...

GreenBiz: Moving the needle: Toward a more holistic and ethical fashion industry
Authors: Lindsey Strange, Katie Ellman

Mohammad Anas Wahaj | 23 oct 2018

Recent passing away of Microsoft's co-founder Paul Allen (b.21 jan 1953 - d.15 oct 2018) brings to the forefront his contributions, not only to technology and entrepreneurship, but also to education, arts, culture etc as part of his philanthropy. After leaving Microsoft's management in 1983, his philanthropic activities focused on the city of Seattle (US), his hometown. He endowed a separate school for computer science and engineering at the University of Washington. His investments in Seattle's South Lake Union locality has recast the city as an increasingly popular destination for young technologists. Some of his cherished contributions to the city's scene and skyline include artistic and athletic monuments to which he devoted a substantial portion of his wealth. He commissioned Frank Gehry to design a pop-culture museum. He also developed a children's center at the Seattle Public Library, funded an off-campus studio for the beloved public-radio station KEXP, and established a military-history museum outside the city. He was an ardent advocate of environmental protection, computational bioscience, and space exploration, donating millions of dollars to regional nonprofits. He invested in sports and acquired Seattle Seahawks at the time the team was planning to leave the city. In his memoir, 'Idea Man' (2011), responding to criticism that his philanthropy lacked focus, he wrote, 'At times, I cast my net too widely. But my choice of ventures wasn't arbitrary.' In 2000, the chairman of the architecture department at the University of Washington likened him to a modern Medici (an influential banking and political family of Florence, Italy). His contributions to entrepreneurship and technology are public knowledge. He recounted in his memoir regarding the initial mission of his venture with Bill Gates was, 'A computer on every desk and in every home.' Mr. Gates recently wrote, 'Paul foresaw that computers would change the world.' He influenced the technological innovations like point-and-click computing, word processing, and multi-button mouse. Mr. Allen attributed his entrepreneurial ambition and imagination to a wide-ranging autodidacticism and a natural passion for art and literature. Even though a technologist and part of a cut-throat and highly competitive industry, he understood that the products he designed were complements to preexisting lives, all of them rich and varied. He wrote in his memoir, 'That's a core element of my management philosophy. Find the best people and give them room to operate, as long as they can accept my periodic high-intensity kibitzing.' Read on...

The New Yorker: The Rare Humanism Behind Paul Allen's Technological Vision
Author: Eren Orbey

Mohammad Anas Wahaj | 22 oct 2018

Brands are all around and everything that is put forward for public consumption requires adequate branding. Sumarie Schreiner, founder of BrandBrew Consulting, explains the value of branding and what is essential for building great brands. She provides 5 core pillars for brand building - (1) Link The Thinking And Feeling: Great brands connect, resonate and then become acceptable. They connect thinking with feeling, and attract attention and keep interest with the promise of something extraordinary. They offer value beyond products and services and make a difference. This inturn evoke emotions and provides sense of belonging, thus creating trust. (2) Build Trust: To build trust requires consistency and time. Trust provides reassurance. Trust is inherent part of human senses. It constitutes both environment and people. Trust = Reliability + Desirability x Experiences. In the present push economy people are more empowered and demanding. Their experiences define their standards of expectations. (3) Offer Value Beyond Your Product/Service: Value builds trust and need to go beyond products and services. Value is both objective and subjective and is derived from all the interactions with a business. Value creation needs to run through the DNA of the organization. It should be the way of life. Outside-in approach offers true value. Relevant and valued experiences are build in response to customers' needs at the right time and place. (4) Differentiate To Those People You Want To Connect With: Understanding diversity of needs helps provide solutions accordingly. People want to belong and connect with other people and organizations that share their values. Differentiate but more importantly make a difference. (5) Help Those People To Connect And Belong: Shared values and belonging develops true connections with emotions. Human-centered, outside-in approach connects at an emotional level and builds long-term relationships. Storytelling helps to differentiate and creates a space in people's memory. Brand is defined by what customers and employees feel about the business. Unlock and cultivate the value offered and keep building on the trust earned. Read on...

Customer Think: "Trust me, I'm a brand!" - What is the value of branding?
Author: Sumarie Schreiner

Mohammad Anas Wahaj | 30 sep 2018

People with business education and experience are now getting inclined towards social enterpreneurship and enterprises. They are realizing that business skills and expertise can be utilized to provide solutions to society's challenges. Prof. Patrick Adriel H. Aure of De La Salle University (Philippines) explains the importance of encouraging social entrepreneurship among business students and shares research and programs that he conducts at the university. The program, Lasallian Social Enterprise for Economic Development (LSEED), involves incubating student-led social enterprises that partner with marginalized local communities, while Social Enterprise Research Network (SERN) undertakes research and advocacy activities. Regarding one of the research conducted in relation to business students and social enterprises, Prof. Aure says, 'Our statistical analysis suggested there are two factors that consistently influence business students' intention to engage in social entrepreneurial activities - (1) Their perceived support from friends, family, and other organizations. (2) Their prior experience in socially-oriented activities such as volunteering.' Research findings suggest - Design social enterprise advocacy campaigns to target group participation and not encourage students individually; Schools may want to consider creating a pipeline of activities that enrich students' socially-oriented experiences. Read on...

The Manila Times: Encouraging social entrepreneurship among business students
Author: Patrick Adriel H. Aure

Mohammad Anas Wahaj | 24 sep 2018

Mentors are an important component of learning-based relationships. Wikipedia quotes a definition of 'mentoring' from a research published in 2007 in SAGE Journals, 'Toward a Useful Theory of Mentoring: A Conceptual Analysis and Critique' (Authors: Barry Bozeman, Mary K. Feeney - University of Georgia, Athens, USA), 'Mentoring is a process for the informal transmission of knowledge, social capital, and the psychosocial support perceived by the recipient as relevant to work, career, or professional development; mentoring entails informal communication, usually face-to-face and during a sustained period of time, between a person who is perceived to have greater relevant knowledge, wisdom, or experience (the mentor) and a person who is perceived to have less (the protégé).' On prsa.org (PRSA - Public Relations Society of America) website, PR expert Prof. John Guiniven of Elon University in North Carolina, says, 'Mentoring is all about communication and relationships, so it's natural for public relations to be in the forefront.' Over the course of learning, people can go through many mentoring relationships, brief or long. But, there are few mentors and their inspiring advice that sticks in one's memory and they often share this with others. 10 members of Forbes Agency Council share the most important learning received from their mentors about PR and media strategy - (1) Consistency Is Essential - Darryl Mascarenhas, LivelyGroup (2) Don't Send Garbage To Media Contacts - Ajay Gupta, Stirista Digital (3) Collaborate With Stakeholders - Ana Miller, Asquared Communications Group (4) Nobody Can Tell Your Story Better Than You - Alexander Yastrebenetsky, InfoTrust LLC (5) Go Big, Go All In, Or Go Home - Dan Russell, Vivid Labs (6) The Order Of Operations Matters - Jared Mirsky, Wick & Mortar (7) Create A Connection - Drew Kraemer, Marketplace Strategy (8) Depict Core Beliefs And Values - Chris Gutierrez, TouchFuse (9) Develop Insights - Julia Gardner, MAAST DIGITAL (10) Be Authentic - Mark Stubblefield, Stubgroup Advertising. Read on...

Forbes: Memorable Mentor Advice: 10 Thoughts On PR And Media Strategy
Author: NA

Mohammad Anas Wahaj | 30 aug 2018

It's critical for the marketers to understand the collective habits of the customers of a particular segment they want to sell. Engineers are one such segment that B2B marketers have to deal with while pursuing their campaigns. Patrick D. Mahoney, President and CEO of IEEE GlobalSpec, explains the IEEE GlobalSpec's '2018 Pulse of Engineering Survey - The Changing Work Environment for Engineers Today' and how industrial marketers can utilize the insights to formulate their marketing strategy. The survey of 2236 engineers and professionals was designed to gather measurable and actionable insight on what they think about their industries and work environments. The survey also includes exclusive analysis on two key segments of the engineering workforce: millennials and technical professionals in the electronics industry. Highlights from the research - PRESSURES: 55% of engineers say the pace of engineering is increasing; 53% are required to do more with less; 40% say that pressure to meet deadlines is putting product quality/rework at risk; Majority also say that designs are becoming more sophisticated and that design cycles are shrinking, while time-to-market pressures are increasing; 44% of companies have increased design involvement from external partners and vendors. MILLENNIALS: Marked differences between mindset of younger engineers vs veterans regarding information. Millennials are information hungry. Concerning information access, 24% of surveyed millennials say they are more likely to use video for educational purposes compared to a much smaller 14% of veteran engineers; While the majority (53%) of all engineers are willing to register on a website for access to specific documents, only 44% of millennials indicated such willingness; Younger engineers tend to believe all content should be free and openly accessible (52%). Read on...

Martech Advisor: A Look Into the Mind of the Engineer: For B2B Marketers
Author: Patrick D. Mahoney

Mohammad Anas Wahaj | 30 aug 2018

According to experts, effective use of data is key to B2B marketing success as it offers precision targeting, better customer experience and personalization at scale. Bernard Tan, APAC Regional Marketing Director at Red Hat, doesn't consider marketing as just B2B or B2C, but prefers it to be 'business-to-all'. He says, '(Data) is transforming the way that we talk to whole markets...it's transforming the way that we can actually have one-to-one conversations in volume markets, and be much more efficient about the way we go to that market...All of us are consumers...We are now at this position where we are now able to start to drive engagement at an individual level and really focus on the customer.' According to IBM's 2017 Customer Experience Index study, APAC (31) scored lower than other regions when it comes to data-driven customer experience in the B2B space [North America (35), Europe (33) and Latin America (33)]. Jodie Sangster, CMO liaison lead of IBM Watson, says, 'Unfortunately in APAC, we are lagging behind in terms of meeting consumer expectations of how we are using their data and delivering great customer experience.' Read on...

WARC: Data is key for B2B marketers, but APAC lags behind
Author: NA

Mohammad Anas Wahaj | 27 aug 2018

Apparel production is generally linked to environmental issues like water and air pollution, alongwith the land, water and pesticide use related to growing natural fibers. But now research points at the source of another problem created by apparels made wholly or partially from synthetic textiles. Microfibers, a type of microplastic, are shed during normal use and laundering, and remain in the environment similar to plastic packaging that coats so many of the world's beaches, and they bond to chemical pollutants in the environment, such as DDT and PCB. Moreover, the textiles from which they are shed are often treated with waterproofing agents, stain- or fire-resistant chemicals or synthetic dyes that could be harmful to organisms that ingest them. Also, microfibers are being consumed alongwith food and drink. Research review (Microplastics in air: Are we breathing it in? - Johnny Gasperi, Stephanie L. Wright, Rachid Dris, France Collard, Corinne Mandin, Mohamed Guerrouache, Valérie Langlois, Frank J.Kelly, Bruno Tassin) published last year shows that microfibers suspended in air are possibly settling in human lungs. Research led by Richard C. Thompson from the University of Plymouth (UK) in 2004 (Lost at Sea: Where Is All the Plastic? - Richard C. Thompson, Ylva Olsen, Richard P. Mitchell, Anthony Davis, Steven J. Rowland, Anthony W. G. John, Daniel McGonigle, Andrea E. Russell) documented and quantified the occurrence of microplastics in the marine environment. Research by Mark Anthony Browne, one of Prof. Thompson's graduate student, published in 2011 (Accumulation of Microplastic on Shorelines Woldwide: Sources and Sinks - Mark Anthony Browne, Phillip Crump, Stewart J. Niven, Emma Teuten, Andrew Tonkin, Tamara Galloway, Richard Thompson) found - (1) Samples taken near wastewater disposal sites had 250% more microplastic than those from reference sites and the types of microplastic fibers found in those samples were mainly polymers often used in synthetic apparel, suggesting the fibers were eluding filters in wastewater treatment plants and being released with treated effluent (which is released into rivers, lakes or ocean water). (2) A single polyester fleece jacket could shed as many as 1900 of these tiny fibers each time it was washed. Another 2016 study by researchers from UC Santa Barbara in US (Microfiber Masses Recovered from Conventional Machine Washing of New or Aged Garments - Niko L. Hartline, Nicholas J. Bruce, Stephanie N. Karba, Elizabeth O. Ruff, Shreya U. Sonar, Patricia A. Holden) has shown far higher numbers - 250000 fibers. Rosalia Project, a nonprofit focused on ocean protection, led a study of microfiber pollution across an entire watershed (from the mouth of Hudson River all the way to where the river meets the Atlantic in Manhattan). Rachael Z. Miller, group's director, was surprised to find that, outside of samples taken near treatment plants, there was no statistically significant difference in the concentration fibers from the alpine region to the agricultural center of New York state to the high population areas of Manhattan and New Jersey. This suggested to her that fibers might be entering surface waters from the air and from septic system drainfields in rural areas without municipal sewage systems. According to Textile World, demand for polyester has grown faster than demand for wool, cotton and other fibers for at least 20 years. And by 2030 synthetics are expected to account for 75% of global apparel fiber production, or 107 million tons. All textiles, including carpeting and upholstery, produce microfibers. So do commercial fishing nets. But due to the frequency with which apparel is laundered and the increasing quantities of clothing being purchased throughout the world (thanks at least in part to the so-called fast fashion trend), apparel is the microfiber source on which researchers and policy-makers are focusing attention. Krystle Moody, a textile industry consultant, says, 'Outdoor gear is heavily reliant on synthetic textiles due to their performance profile (moisture wicking) and durability.' Jeffrey Silberman, professor and chairperson of textile development and marketing with the Fashion Institute of Technology at the State University of New York, says, 'Price is the big driver behind the use of synthetics in textiles. A poly-cotton blend is generally far cheaper than a cotton one, but doesn’t look or feel appreciably different to most consumers. The motivation is to get natural-like fibers and still be able to get a price point that people are willing to pay.' Katy Stevens, sustainability project manager for the outdoor gear industry consortium European Outdoor Group (EOG), says, 'Initial research suggested that recycled polyester might shed more microfibers. Are we doing the right thing by using recycled polyester that might shed more? It has added a whole other big question mark.' Other studies have found microfibers in effluent from wastewater plants (Wastewater Treatment Works (WwTW) as a Source of Microplastics in the Aquatic Environment - Fionn Murphy, Ciaran Ewins, Frederic Carbonnier, Brian Quinn), in the digestive tracts of market fish (Ingested plastic transfers hazardous chemicals to fish and induces hepatic stress - Chelsea M. Rochman, Eunha Hoh, Tomofumi Kurobe, Swee J. Teh), throughout riversheds (Mountains to the sea: River study of plastic and non-plastic microfiber pollution in the northeast USA - Rachael Z. Miller, Andrew J. R. Watts, Brooke O. Winslow, Tamara S.Galloway, Abigail P. W. Barrows) and in air samples. Two separate studies released in March 2018 revealed that microfibers are found in bottled water sold all over the world. And a study published weeks later revealed that microplastic - chiefly microfibers - were present in 159 samples of tap water from around the word, a dozen brands of beer (made with Great Lakes water) as well as sea salt, also derived globally. Although most research has focused on synthetics textiles, but Abigail P. W. Barrows, an independent microplastics researcher who has conducted numerous studies on microfibers, says, 'Natural fibers such as cotton and wool, and semi-synthetics such as rayon should not be totally ignored. While they will degrade more quickly than, say, polyester, they may still be treated with chemicals of concern that can move up the food chain if the fibers are consumed before they degrade.' The study she led in 2018 (Marine environment microfiber contamination: Global patterns and the diversity of microparticle origins - Abigail P. W. Barrows, Sara E. Kathey, C. W. Petersen) found that in the surface water samples collected globally while 91% of the particles collected were microfibers, 12% of those were semi-synthetic and 31% were natural. Read on...

GreenBiz: Why are our clothes so bad for the environment?
Author: Mary Catherine O'Connor

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