Business & Finance

Mohammad Anas Wahaj | 21 jan 2017

Building a successful CSR (Corporate Social Responsibility) program requires commitment, consistency, continuity and culture within an organization. Claudia Schiepers, Chief Marketing Officer of Greystone and winner of The CMO Club's CSR Award'2016, helped promote a culture-centric curriculum for CSR and shares valuable insights to inspire marketing leaders to develop a successful CSR program in their organizations - (1) Start from the ground up: 'We try to engrain it in everything that we do. I would say start small, test and grow it from within the company...It's all about making suggestions, trying things out and then rolling them out across the organization.' (2) Assemble a top-notch toolbox: 'We gave them a lot of tools. We have employee engagement data that we share with managers, (teaching) them how to have difficult conversations and great conversations. So, it's all about empowering the managers in your company to use the system, having your employees feel like they are involved in it.' (3) Give instruction: Developed a culture book that outlines standards of behavior when it comes to being charitable. 'We say, at Greystone, (caring) means being interested in or concerned about the wellbeing of others. It means that you actively listen, keep an open mind, seek to understand, treat people with respect and kindness. We don't allow yelling. Mentor others, foster other's development, lead by example.' (4) Know that if you build it, they will come: Strikes a balance between good PR and sincerity by publicly commending their local offices' good deeds on social media platforms. 'I think that makes the story more powerful because it is not a corporate driven initiative. We don't do it to get a pat on the back afterwards. I think that's the key for our social responsibility. That is the biggest return on the investment, that we get people that care about other people to join our company.' Read on...

AdAge: Four Tips for Building Sustainable CSR
Author: Drew Neisser

Mohammad Anas Wahaj | 09 jan 2017

According to eMarketer's Sept'2016 ad spending forecast, digital will overtake TV ad spending this year for the first time (Digital - US$ 72.09 billion; TV - US$ 71.29 billion), and will represent 36.8% of US total media ad spending. Scott Symonds, MD of media at AKQA, 'In 2017, digital will become the single largest media investment channel, passing television for the first time...digital is no longer just a test or an innovation budget. It needs to be expected to work as hard or harder vs. every other investment channel.' Experts from across the industry suggest ways digital marketing will evolve in 2017 - (1) Artificial intelligence gets smarter: Tom Edwards, Chief Digital Officer at the agency within Epsilon, says, 'From leveraging machine learning to accelerate sentiment analysis and domain-specific insights to cognitive computing solutions that automate experiences without human intervention to the rise of voice-based user experiences that will continue to expand in 2017 to deep learning that will fundamentally change how brands approach SEO to predictive API's that will expose access to predictive models to further create seamless experiences for consumers, cognitive and intelligent systems will play a key role in how we approach marketing in 2017.' (2) Measurement takes priority: Brigitte Majewski, an analyst at Forrester Research, says, 'The fundamentals have to take priority. Measurement and data are the only way for marketers to get control of a situation they have completely lost control of. They have to understand what part of the mix is truly working and that takes measurement...Once marketers get control of their measurement and connect the dots with the data, they can really start to do orchestrated branded experiences told in a sequence that makes sense.' (3) Turning up the volume: Audio-driven experiences will become mainstream in 2017. Trevor Guthrie, Co-founder of Giant Spoon, says, 'Giant Spoon believes the rise of voice-based AI - Google Home, Amazon Echo, etc. - will have a profound impact on computing and how consumers interact with technology. The next wave of computing will be driven by voice, and clients need to begin to build a voice strategy for their brands.' (4) Reestablishing trust: Forrester's Majewski says, 'The biggest difference in 2017 is going to be a focus on transparency. But now marketers have gotten much smarter and they can legitimately ask hard questions that they might have let pass before. They will really dig into the numbers from agencies and platforms - they are not going to let things slide.' (5) A clearer picture for digital video: AKQA's Symonds says, 'As video becomes untethered from television in terms of its primary investment opportunity or most likely viewing occasion, we believe it will continue to have exciting emerging opportunities in and around the space including augmented and virtual reality, 360 video, live video, programmatic innovations, etc.' (6) Social pivots back to sharing: David Song, MD at Barker, says, 'It will no longer be about paid, earned, and owned social but rather, how a consumer engages with a brand through its social channels. Social channels are and will continue to become more important than client websites.' Epsilon's Edwards says, 'Marketers will need to shift their strategy from one of personification of the brand to a seamless experience that is about simplifying and predicting needs while also empowering consumers to create their own stories.' (7) Cleaning up the landscape: Anna Bager, SVP and GM of mobile and video at Interactive Advertising Bureau, says, 'The days of static display banners are numbered. Consumer expectations for rich, relevant ad and content experiences are growing.' Gabe Weiss, digital experience and transformation leader at SapientNitro, says, 'I feel like there's been a significant maturation of understanding within leadership that the old-normal approaches no longer work. They have bought into designing approaches that work for their brand and for their customers. They will be more committed to delivering their messaging in all forms of content and fragmented channels to make an impact. They will offer engaging and unique experiences and not just yell at their audiences.' (8) Getting the message: IAB's Bager says, 'In the U.S., the rapidly evolving messaging space represents a tremendous opportunity beyond social media platforms to engage with consumers in a native way.' (9) Mobile evolves into people-based marketing: Kurt Hawks, SVP of cross-device and video, at Conversant, says, 'Additionally, as the digital and physical worlds continue to converge, a focus will be placed on the intelligent and responsible use of location data to better understand and anticipate consumer needs and track in-store visits. Mobile will finally evolve from a device to a set of behaviors that inform people-based marketing.' Giant Spoon's Guthrie says, 'We're finally starting to see UIs truly built for mobile instead of just converting what we're used to on desktop. I don't simply mean 'make it vertical' or 'make it short and snackable.' A few companies are completely reworking the structure - not just the details of the content pieces.' (10) Looking towards a post-broadcast, post-digital future: Giant Spoon's Guthrie says, ' The digital media bubble will pop this year. Media will bifurcate into massive networks that roll up many properties for scale and synergy or niche publications charging premium prices based on the strength of their brand. Media's middle class of independent venture-backed digital publishers will either get acquired or fold.' Jeff Liang, Chief Digital Officer at Assembly, says, 'Digital marketers can no longer think inside the box to reach and engage with digital consumers effectively. They must quickly adapt to how audiences are using new forms of digital media to avoid getting lost in the sea of change.' Read on...

Marketing Dive: 10 ways digital marketing will evolve in 2017
Author: Chantal Tode

Mohammad Anas Wahaj | 26 dec 2016

According to the recent report by Global Impact Investing Network (GIIN), 'Impact Investing Trends: Evidence of a Growing Industry' (Authors: Abhilash Mudaliar, Aliana Pineiro, Rachel Bass), impact investors have demonstrated strong growth, collectively increasing their assets under management (AUM) from US$ 25.4 billion in 2013 to US$ 35.5 billion in 2015, a compound annual growth rate of 18%. The report provides compelling evidence that impact investing industry is growing, both in terms of size and maturation. More than 60% of AUM was allocated to emerging markets each year, and the top three sectors receiving the highest proportions of AUM were microfinance, other financial services and energy, respectively. Read on...

The NonProfit Times: Assets Under Management Grew For Impact Investing
Author: NA

Mohammad Anas Wahaj | 26 dec 2016

10 biggest architecture trends of 2016 - (1) Minimalist interiors finished with cool-toned marble, uniform woodwork and block coloured walls (2) Prefabricated houses for long-term housing (3) Co-living and co-working spaces, largely targeting millennials (4) Shingles (Concept is broadly utilized with a huge variety of materials and scales demonstrating the versatility of the cladding) (5) Charred timber (Japanese wood-preservation technique known as shou sugi ban has been used to blacken the cladding of hotels, houses, pavilions and studios the world over) (6) London house extension boom resulting from inclination towards contemporary design (7) Sustainability (8) Backyard and garden studios are constructed by architects, designers, writers and artists as they seek to maximize limited inner city space (9) Skinny skyscrapers (10) Carbon fibre is tipped as building tool of the future. Experts suggest that when the material is combined with robotic construction techniques is paving the way for a fourth industrial revolution. Read on...

Dezeen: Dezeen's 10 biggest architecture trends of 2016
Author: Jessica Mairs

Mohammad Anas Wahaj | 21 dec 2016

To identify common traits of entrepreneurs, Harvard Business Review (HBR) and Ernst & Young (EY) recently collaborated on a study to review three decades of entrepreneurship and 9200 winners of EY's Entrepreneur of the Year program. According to the report, winners over the past 30 years created more than 14 million jobs and contributed roughly US$ 1 trillion of revenue to the U.S. economy. Moreover, 46% percent of the winners were the founders of more than one business. The report found the following charachteristics that entrepreneurs share - (1) They recognize talent. (2) They are focused on growth. (3) They do their research. (4) They're purpose driven. Read on...

Entrepreneur: All Successful Entrepreneurs Share These 4 Qualities
Author: Nina Zipkin

Mohammad Anas Wahaj | 10 dec 2016

Gifts are an important tool for initiating and enhancing relationships, and it is often challenging to give just the right gift that connects well. According to Prof. Cassie Mogilner Holmes of University of California at Los Angles, 'What we found was that the recipient feels more connected to you as the gift giver after receiving an experiential gift rather than a material one.' Prof. Holmes is a social psychologist and marketing expert, and is a world's leading authority on consumer happiness. She says, 'Everbody wants to be happy. But we don't often know the best path towards that end. I am trying in my research to understand what are the ways we can think and behave that are most conducive to our happiness and well-being.' Prof. Holmes has been exploring the relationship between happiness, time and money for almost a decade. Her studies found that when your attention is drawn subconsciously to time, you are more motivated to engage with other people, and that will make you happier than if you were thinking about money. Prof. Holmes and her UCLA colleague, Prof. Hal Hershfield, posed the question of what people want more of - time or money - to thousands of Americans representing different ages, socio-economic levels, occupations, races and genders. According to her, 'We found that those who were more likely to choose having more time over having more money were happier.' She further explains that the psychology around these choices has less to do with age than with people's outlook on their futures and on time. She adds, 'Younger people who feel their time is expansive and that they have a very long future in front of them will enjoy greater happiness from extraordinary experiences. For older people who feel their time is limited and fleeting, they feel a need to savor the moment. These people extract happiness from even mundane, ordinary experiences, like having coffee with a friend.' Read on...

UCLA Newsroom: UCLA marketing prof probes what will make you happier
Author: Cynthia Lee

Mohammad Anas Wahaj | 02 dec 2016

The rising tide of mobile devices brought with it the deluge of apps. As of June 2016, there were an overwhelming 4.2 million apps available on both the Google Play Store and Apple App Store. For an app to stand out among such a crowded app-place is not an easy task. Dima Rakovitsky, Founder and CEO of ROKO Labs, shares the following best practices for an aspiring app inventor - (1) Know Your Audience: Diligently figure out who will use the app and what problem will it solve; Focus on customer aesthetics based on the platform (iOS or Android) they use and design accordingly. (2) Validate Before You Build: Research the competitive market; Do customer surveys; Draw user flows; Professionally design the app and make a clickable prototype; Share it with potential users and seek suggestions and feedback. (3) Marketing And User Acquisition Plans: Make sure app has viral components; Create a marketing strategy supported with strong tactics; Have a marketing and advertising budget. (4) Make a Positive First Impression: It is key to acquiring and retaining users; Have a well-designed and memobrable app icon with short engaging description; To reduce churn rates, make sure your app is fast, intuitive and allows anonymous usage. (5) Easier is Always Better: Keep your app simple and accessible to everyone; Have understanding of UI (User Interface) and UX (User Experience). (6) Consistency Is Key: The app should look and feel cohesive; Have unified color scheme and consistent typography; Make sure your app takes advantage of the unique features and norms of each mobile platform, but still coordinates with your website. Read on...

Alley Watch: 6 Tips for Aspiring App Inventors
Author: Dima Rakovitsky

Mohammad Anas Wahaj | 23 nov 2016

Research by Prof. Ali Besharat of University of Denver, 'The Effect of Review Valence and Variance on Product Evaluations: An Examination of Intrinsic and Extrinsic Cues' (Other authors - Ryan Langan of University of San Francisco; Sajeev Varki of University of South Florida), explores how the rating and variance in reviews affect the decision process. Researchers find that the nature of products, a product's brand, reviewers' credibility, and the structure of online customer reviews all significantly impact consumer decision-making and, subsequently, a company's bottom line in terms of sales. According to Prof. Besharat, 'In the case of high online review variance, we find that when brand equity is high - Nike for example - then reviewer credibility does not influence consumers' purchase intentions. But when a consensus among reviews exists (low variance), reviewer credibility emerges as a significant diagnostic cue.' Another research by Prof. Ana Babić Rosario of University of Denver, 'The Effect of Electronic Word of Mouth on Sales: A Meta-Analytic Review of Platform, Product and Metric Factors' (Other authors - Francesca Sotgiu of Vrije Universiteit Amsterdam; Kristine De Valck of HEC Paris; Tammo H.A. Bijmolt of University of Groningen), confirms Prof. Besharat's findings and demonstrates that a wide variance in consumer opinions has a detrimental effect on product sales. According to Prof. Rosario, 'The reason why variability of reviews can harm sales more than negativity is that electronic world of mouth, in theory, is a way for consumers to reduce risk and uncertainty, which does not happen when other consumers' feedback is highly inconsistent.' Prof. Rosario's findings should be of interest to product and platform managers, internet and social media monitoring agencies. Read on...

University of Denver News: What Brand and Marketing Managers Need to Know About Online Customer Reviews; How They Influence Purchase Decisions
Author: Amy Jacobson

Mohammad Anas Wahaj | 15 nov 2016

One of the ways in which health systems, particularly in the resource-starved developing countries, can improve is by applying concepts that make social enterprises successful. Health systems serving the most vulnerable, bottom of the pyramid market, can learn from social enterprises that make challenging markets work better. Yasmin Madan, global marketing director at Population Services International (PSI), explains in an interview with Lizzie Cohen, that adapting the model of a social enterprise can ensure a more sustainable health system that continues beyond donor funding. She says, 'Any successful business has the consumer right at the center as its main audience and it generates value for the consumer as well as the market.' According to Ms. Madan, 'Social enterprises by addressing failures, by putting consumers at the center, by generating value, are strengthening health systems, or put simply - making markets work better.' Read on...

devex: The evolution of health systems - Service providers as social enterprise
Authors: Lizzie Cohen, Jacques Jimeno, Julie Espinosa

Mohammad Anas Wahaj | 06 nov 2016

Organizations should continue to seek innovation to stay relevant and competitive. Achieving continuous innovation is challenging and organizations have to create an innovation-driven culture as a long-term strategy to sustain it. Manoj Vig, Enterprise Architect at Shire Pharmaceuticals, shares his views on innovation, how to establish innovation teams and what should be done to ensure innovation success - (1) Organizational DNA: Innovation is neither a project nor a process, it needs to be part of organizational DNA; Focus on teams and groups. (2) Collaboration is important: Collaborative environment helps innovation to sustain and succeed in innovation; Collaboration develops and refines innovative ideas. (3) Find zoom out team members: Include members with diverse set of skills and competencies, and those who can zoom out to get a bigger picture. (4) Innovation teams and performance engines: Innovation teams are necessary to provide performance teams to work better. Better coordination and partnership between the two for seamless and continuous innovation. (5) A crazy man's idea: Nurture ideation in organizations even though ideas may initially seem difficult or impossible; Encourage sharing and free flow of ideas. (6) Glocalization and reverse innovation: Innovation teams should learn from these concepts and seek out what has been successfully done as a prlect for a specific use case at one place and reconfigure it for a larger user base within the organization. (7) Innovation catalysts and champions: Look for innovation catalysts that will become part of a dedicated team and then find innovation champions within existing and potential user communities to work with catalysts to solidify the innovation-based culture thinking within the organization. (8) Don't worry, be crappy: As Guy Kawasaki once said the phrase to make a point that when something is done to be radically different and better, waiting for perfection is not a good strategy; Deliver products and services quickly and without fear of failure. Such products/services can be tagged as beta or in incubation for user awareness. This helps engage with users early, set the right level of expectations and create a positive feedback loop. (9) Don't just focus on problems: Solving current problems with users provide quick wins and credibility boosters and must be used by innovation teams to expand their focus and work towards identification of opportunities for users that did not exist before; Focus on creating new opportunities and disrupting current ways of doing things. Read on...

icrunchdata: 9 Tips to Establish Innovation Teams
Author: Manoj Vig

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