WebProNews

Category: ENTBusinessNews

ENTBusinessNews

  • PayPal Files Patent That Could Expedite Cryptocurrency Transactions

    PayPal Files Patent That Could Expedite Cryptocurrency Transactions

    PayPal filed a patent last week that revealed that it is considering speeding up its cryptocurrency transactions. Based on the recently released application, the payments processing company came up with a new system for faster trades involving digital currencies like Bitcoin and Litecoin, among others.

    In PayPal’s filing with the US Patent and Trademark Office, the application was for an “expedited virtual currency transaction system.”

    Virtual currencies, such as Bitcoin, have dramatically transformed fund transfer and payment because of minimal processing fees, unlike exorbitant charges collected by financial institutions for international wire transfers.

    Without a central repository for these cryptocurrencies, transactions involving Bitcoin have to be confirmed first before being processed. Because of the time delay, users often select another payment method to proceed with the transaction instead. This has been a consistent problem that has plagued Bitcoin and other virtual currencies.

    In its March 1 filing, PayPal said, “In many transaction situations, a 10-minute wait time will be too long for payers and/or payees, and those payers and/or payees will instead choose to perform the transaction using traditional payment methods rather than virtual currency.”

    “Issues like this have slowed the adoption of virtual currencies despite their advantages. Thus, there is a need for an expedited virtual currency transaction system,” PayPal stated in its application.

    PayPal’s patent explains the creation of several secondary wallets with their respective private keys corresponding to “predefined amounts” transferred from the first user’s primary wallet. Fund transfer will be faster since the second user receives the secondary wallet’s private keys with the pre-set value equivalent to the transaction amount.

    PayPal has always been optimistic about cryptocurrencies. Two years ago, the global payments giant filed a patent for a platform that would accept the decentralized virtual currencies. In the February 2018 interview with The Wall Street Journal, PayPal’s CFO John Rainey remained upbeat on cryptocurrencies’ acceptability as a payment method.

    “The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day,” Rainey told WSJ.

    [Featured image via PayPal]

  • ZenBusiness Wants to Make it Easier for One Million Small Businesses to Get Started by 2023

    ZenBusiness Wants to Make it Easier for One Million Small Businesses to Get Started by 2023

    Austin-based company ZenBusiness has secured $4.5 million in seed money, thanks to numerous angel investors. The startup is also embarking on the lofty goal of assisting one million businesses get started.

    ZenBusiness, which began operations in 2015, helps small business get off on the right foot by assisting with legal documents. The company will inform clients of each and every form required by the state and the reports that have to be filed yearly. This will undoubtedly be a big boon to first-time business owners and entrepreneurs, as the process and requirements of launching a small business differ per state.

    The corporate creation and management company is offering a fast, easy and affordable alternative to the complicated process of filing legal and business documents. ZenBusiness will provide clients a set of questions to answer that will determine the business they want to start. The business platform then creates and files all the needed documents for free, except for the state-mandated fees. What’s more, this is all accomplished in as little as 48 hours.

    Company owners can also avail of the $10 monthly package that lets ZenBusiness become the business’ registered agent and allows them to handle “annual filings, franchise tax, all of the red tape around an entity.” The company is also open to paying any potential fines in the event that they have been remiss with any of the documents. The payment will be taken from the $4.5 million seed money from investors Lerer Hippeau, Greycroft, Slow Ventures, Founders Fund, and Revolution’s Rise of the Rest.

    ZenBusiness founder Ross Buhrdorf explains that their platform and affordable pricing ensures that every small business owner has the “resources and protection they need to turn their business dreams and ideas into reality.” Burhdorf has also set a very lofty goal for the company, that of helping develop one million small businesses by the year 2023. This roughly translates to 2.5 million new jobs for Americans and over $100 billion in income for workers.

    [Featured image via Pexels]

  • Will Trump Tax Cuts Benefit Your Small Business?

    Will Trump Tax Cuts Benefit Your Small Business?

    Small businesses are feeling very optimistic these days, with a record number believing it’s the perfect time to expand. The positive outlook has reportedly been fueled by the changes instituted by the Trump administration’s tax-reform package.

    Survey Says It’s a Good Time for Small Businesses

    According to a survey released by the CNBC and Survey Monkey, the Small Business Confidence Index for Q1 saw numbers rise from 57 to 62. The five-point increase is the largest move per quarter that the index has seen since the two companies started measuring in 2017.

    The CNBC/SurveyMonkey Survey also highlighted several key takeaways. For instance, 47 percent of small businesses stated that on the whole, business conditions are good. Only 44 percent believed that last quarter. The survey also revealed that 32 percent of small business owners are planning to add more full-time workers in 2018.

    How the New Tax Law Affects Small Businesses

    It should be pointed out that the Q1 survey is the first done since President Donald Trump enacted the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The rise in optimism and confidence is quite the surprise, considering that in the Q4 2017 survey, small-business owners were split in the middle regarding the effect the tax law would have on their business. Now it seems that 46 percent of those surveyed believe Trump’s tax policy will have a positive impact; an impressive jump from the 38 percent of last quarter.

    What kind of impact will the new tax law have on SMBs? The final iteration of the bill allow pass-throughs of as much as 20 percent of the income. However, these deductions depend on the type of business.

    In personal service businesses, like lawyers, architects, and brokers, the 20 percent deduction is only permitted for married partners that filed joint incomes of as much as $315,000. Meanwhile, the deduction is allowed for single taxpayers with incomes of up to $157,000.

    For businesses that are employee intensive, like manufacturers and restaurants, the deductions depend on the payroll. The 20 percent deduction is actually confined to 50 percent of the payroll. So companies with a lot of workers get a big break. The new tax law basically gives these businesses a good reason to expand and hire new people.

    Last December, Adam Looney of the Tax Policy Center was interviewed on PBS’s News Hour where he explained how the ‘pass-throughs’ would work for small business.

    Benefits of Tax Cuts to Small and Medium Sized Businesses

    The TCJA appears to have a trickle-down effect on consumers and small businesses. The higher take-home pay and bonuses resulting from the new tax law have given consumers more spending confidence. This was clearly seen during last year’s holiday season.

    This consumer confidence is a good sign for small and medium-sized business. With increased spending, these companies can generate more revenue that they can use to either improve the business or pay off creditors. For instance, savvy business owners can take steps to improve their credit rating, like paying their bills immediately.

    Companies with improved credit ratings have access to more capital. This can be beneficial to owners thinking of expanding operations, improving an office, buying new equipment, or refinancing a debt.

    More importantly, a positive credit score makes it possible for entrepreneurs to apply for small business funding with banks. These traditional lenders typically look more closely at credit scores. They can also offer small businesses better terms and rates. For example, instead of paying 20 percent interest on a credit card, a businessman can get capital at 8 percent interest which can be used to pay off debt and place the company in a healthier space, finance wise.

    Small businesses certainly have a lot to look forward to now that the TCJA is in effect. However, the changes introduced in this new law can be challenging to navigate. Some of the new rules are just so complicated that tax experts might have trouble processing them. So it’s a good idea for small businesses to invest in reliable tax advisers this year.  

    [Featured image via YouTube]

  • How Your Business Can Identify and Capitalize on Micro-Moments

    How Your Business Can Identify and Capitalize on Micro-Moments

    There’s no question that smartphones have become a ubiquitous part of our daily lives. Studies have shown that 46% of Americans reach for their phones first thing in the morning, while 91% of people automatically reach for a mobile device to check on something when doing a task.

    This reliance on smartphones has become so pervasive that many industries are putting more effort into targeting mobile users than those on conventional devices like a desktop. It’s a smart move since turning even a small segment of these users into customers can yield huge profits. An effective way for companies to profit from this group is to take advantage of “micro-moments.”

    What are Micro-Moments?

    Google coined the term “micro-moments” in 2015 to identify the exact points in time that lead to a consumer finally making a purchase. The company described these moments as “critical touch points within today’s customer journey, and when added together, they ultimately determine how a journey ends.”

    Essentially, these are the critical points where someone takes to their device (which is most often a smartphone) and takes steps regarding a need. It’s the intersection of what a customer wants and needs at the moment and what they know.

    Google has determined four key moments based on the consumer: “I want to do,” “I want to know,” “I want to buy” and “I want to go.” Most decisions made by shoppers can be traced to one of those four moments. For instance, a shopper who’s headed to Turkey would research on what to “do” in that country. A travel agency can come up with a promo that will arrange a trip to Istanbul’s famous Blue Mosque.

    Image result for micro moments

    [Graphic via Think with Google]

    How to Capitalize on Micro-Moments

    Now that the importance of micro-moments have been established and their constant evolution noted, companies have to think about how they can use these instances to their advantage. Here are some things to consider if you want to catch that perfect micro-moment with a customer:

    1. Put Your Business Profile Out There

    It pays to ensure that your business profile is accurate and completely filled out on Google, particularly if you have a physical storefront. There has been an increase in “near me” or “right here” searches, as more users are looking for a place to go for a certain activity. Getting your business profile up will help with micro-moments where a customer wants to “do” something or “go” somewhere. Google’s Local Guides program assists users in verifying if your profile information is accurate.

    2. Flaunt Your Value With Original and Significant Content

    The need to know is one micro-moment that could hit you several times a day. This is why people are always looking for content on eCommerce sites. Having unique and relevant content is a great way to introduce your business to shoppers who are searching for information on either a particular product or on something that has captured their interest. Regardless of whether it’s a short how-to video or some DIY tips, make sure to flaunt your value by offering good content that appeals at the moment.

    3. Speed is of the Essence

    Speed is key if you want to use micro-moments to your advantage. When asked, almost half of customers admit that they will leave a website if it’s unresponsive or takes too long to load. People also don’t like having to go through different windows or steps just to get information. Optimizing your site for mobile devices and streamlining your buying process is a good way to entice consumers to go to your page and stay.

    4. Improve User Interface

    Another area that brands should focus on is how the user experiences their website and content. When a potential customer goes to your site or a specific page, what will they see? Will they be able to find what they’re looking for quickly or are they going to spend time wading through redundant information?

    Aside from ensuring that information is accessed quickly, transactions should also be simplified. Complicated checkout pages or a cart that requires several clicks in order to finish a purchase will turn consumers off. There should also be fewer distractions on the checkout pages, especially those on mobile devices, as these further cut down the odds of conversions. The goal is to make shopping quick, fun, and simple.

    Companies have to be ready to take advantage of micro-moments. This means that business has to do some forward thinking to anticipate what their customers would need. Changes may also need to be made to ensure that websites are optimized for mobile.  

    [Featured image via ThinkWithGoogle]

  • How to Attract More Customers and Boost Your Sales with Webinars

    How to Attract More Customers and Boost Your Sales with Webinars

    In the early 2000s, only established companies or enterprises could afford to conduct webinars. However, in more recent years, advances in teleconferencing have made hosting a webinar more feasible for small businesses and even solopreneurs. 

    It’s clear that webinars are one of the more effective and useful online marketing tools today. Industry analysts have also determined that as businesses continue to use more video and incorporate social media into their marketing strategies, webinars will continue to be a trend. But how can you use this technology to attract more customers and sell more products?

    Explaining the Webinar

    A webinar, or “web seminar,” is a video conference conducted over the web. It utilizes the internet to connect the host (person conducting the webinar) to the audience (viewers and listeners).

    Webinars can be conducted in several ways. The hosts can choose to show themselves on camera during a live presentation or switch their screens to show demonstrations or slideshows. The webinar could also just be an audio presentation and speakers from different locations can be invited to co-host.

    Instead of using the technology for seminars, businesses, schools, and other organizations can also use it to give lectures. As a matter of fact, 2 out of 3 webinars are used for educational purposes. According to Clickmeeting’s research, 40 percent of webinars are staff training, how-tos, and product training while 15 percent are e-learning classes and online education courses. It could also be used as a promotional presentation to launch or sell a product and connect with new customers.

    Why Webinars are Popular

    The webinars rise in popularity is due to one very simple fact—it’s very effective in getting your message across.

    Webinars can be utilized to provide fundamental training for employees at a lower cost. Instead of paying for a conference or class just for continuing employee education, companies can offer a free webinar. It provides the same knowledge that employees would get from a conference without having to shoulder transportation or food expenses.

    This marketing tool is also very effective in allowing customers to interact with content. Customers who sign up for a webinar can quickly provide feedback or ask the company questions. More importantly, content is delivered in real-time.

    How to Boost Sales with Webinars

    Webinars have so much potential to do your company good. Conversely, it also has the capacity to do some damage if it’s not done right. Here are some suggestions on how you can conduct a webinar that will boost conversions.

    1. Make it Engaging With Visuals

    Visuals are the way to go if you want your webinar to be engaging and memorable. People prefer infographics over bullet points, as the former is easier to understand and more interesting to look at. This has been proven to be true on social media, as more users click or shared posts with images. For example, Facebook posts with images reportedly received 87 percent of engagement among users while Tweets with images receive 18 percent more clicks that ones that on have text.

    2. Keep Audience Interest Up

    Webinars typically run for about an hour, with half of that time devoted to getting your message across. You want to keep your audience interested throughout the entire seminar. Remember that you can quickly lose the attention of your audience if your presentation is boring or has too many instances of inactivity.

    One way to keep things lively is to opt for an interactive presentation. For instance, ask the attendees to answer a poll or write something down every 15 minutes or so. Entertain live callers who ask questions. Not only will this liven things up, it also makes the session sound more conversational.

    3. Practice, Practice, Practice

    Practicing a speech or a presentation, even one you’ve done a thousand times before, is always a good idea. Go over your notes and check your visuals a few days or hours before you air your webinar. Rehearse with a colleague or a friend. Record yourself. Doing these things will give you the chance to identify possible problems with your material or how you present it.

    4. Keep it Fun With Freebies

    Freebies and bonuses make life fun. Offering the audience a chance to win a prize will incentivize them and keep them engaged. The rewards don’t even have to be big or expensive. Cash, gift cards, discounts or a private consultation with you or one of your expert staff will suffice.

    Don’t underestimate the power of webinars. If you’ve never considered using this marketing tool, perhaps 2018 is the year to give it try.

    [Featured image via Pixabay]

  • 4 Accounting Software to Consider Using for Your Small Business in 2018

    4 Accounting Software to Consider Using for Your Small Business in 2018

    Small business owners understand how crucial it is to have a handle on their finances. Unfortunately, most small businesses can’t afford to hire a full-time accountant. However, a good accounting software makes it easier to monitor business accounts. It can also track expenses and bills, creates invoices, manages inventory and generates reports that help evaluate how a business is doing.

    There are several factors that one should consider when choosing accounting software. An interface that’s easy to navigate and understand is one such factor. Small business owners should also consider its features and how they can help in running operations. It should also be compatible with other tools that the business uses. Lastly, brands should consider how much money they have to shell out. Do they want the basic or are they willing to spend more to get an accounting software with extra features?

    Top 4 Accounting Software for Small Businesses

    Intuit Quickbooks Online

    Image result for Intuit Quickbooks Online 250x250

    Quickbooks Online is one of the more popular accounting software out on the market today. It can easily cater to the needs of small businesses and as well as major enterprises. Small companies would find that its interface is easy to master, so new accountants or those without an accounting background can easily navigate their way around.

    The software syncs automatically to a single dashboard. This allows various users to view the company’s accounts, create billing statements and invoices and generate over 40 different reports. Quickbooks can also be integrated with other Intuit tools like GoPayment and Quickbooks Online Payroll.

    Kashoo

    Image result for kashoo 250x250

    Freelancers and small businesses simply love Kashoo’s improved interface and clean navigation tools. The software offers basic accounting capabilities, like pre-formatted reports, templates for products, customers and suppliers, and forms for invoice, bills, and payroll. Users can also track project costs and create sales tax rates with this software. Kashoo also provides its clients with free chat, email, and phone support.

    Wave

    Image result for wave accounting 250x250

    Wave is the best online accounting software for consultants, freelancers, and companies that have less than 10 employees. The program can handle simple financial reports and everyday office processes like invoicing and receipts, managing a balance sheet and generating profit-loss reports. It can also manage payroll and direct deposits. However, the software cannot track payments and bills and has no cash flow report capability. It should be emphasized that Wave only offers very basic accounting processes and won’t be able to handle complex cash transactions.

    Zoho Books

    Image result for zoho accounting 250x250

    This is the perfect software for micro-businesses. It boasts an extensive range of essential accounting tools. It also has features like automated workflows, inventory management, invoice tracking and time tracking. It can even provide automatic payment, and bank feeds notifications. The software can be integrated into more than 25 business and productivity Zoho apps. Users can also avail of the company’s robust support network, whether it’s online or by phone. Its well-designed video tutorial also makes it a breeze to learn how to maximize it for your small business need.

    [Featured image via Pixabay]

  • PayPal Here Launches Two New Card Readers, Giving Small Businesses More Ways to Accept Payments

    PayPal Here Launches Two New Card Readers, Giving Small Businesses More Ways to Accept Payments

    Every customer wants a swift and smooth payment transaction, with little fuss. This holds true regardless of whether they’re buying from a major enterprise or a small business. That goal is certainly possible with PayPal Here’s two new payment card readers.

    PayPal recently launched a Chip and Swipe reader and a Chip and Tap reader, both of which will help users and small companies easily conduct credit card transactions anywhere.

    The Chip and Swipe reader is an improved version of the company’s previous swipe-style reader. It now comes with support for debit and credit cards with EMV chip technology. Meanwhile, the Chip and Tap reader can process contactless payment options from NFC-supported devices and also accepts EMV-supported cards. The device also comes with a portable charging stand.

    Image result for paypal chip and swipe card reader

    Both payment readers can easily process transaction choices like Apple Pay, Samsung Pay, and Google Pay.

    PayPal’s new readers have been designed with portability in mind. The two devices are about the size of a deck of cards, making it possible for small retailers and entrepreneurs to do business in any location—a country fair, the neighborhood cafe—without worrying about wires or having to carry bulky hardware. They can easily connect to any mobile device using Bluetooth technology. The readers also have a user-friendly interface and can now be used for extended periods, thanks to their rechargeable lithium-ion battery.

    PayPal is offering the Chip and Swipe reader for $24.99 and the Chip and Tap reader for $59.99. Both devices will work seamlessly with the PayPal Here. The app is available via the Apple App Store and Google Play.

    In a statement, PayPal In-Store’s Chief Chris Gardner stated that the company understands the “challenges small businesses face—including protection from fraudulent transactions and the costs of equipment to run their business—and constantly work to develop products and services that allow them to thrive in an increasingly competitive environment.” Their new and affordable card payment readers are their newest endeavor to help small business.

    Gardner also pointed out that small and medium businesses also look for a “one-stop shop” for all their commerce and payment services. After all, these companies don’t have the time to deal with various vendors to manage all these financial activities. PayPal is determined to be the company to handle these demands. Merchants can use PayPal for their online transactions, PayPal Here for their physical processes, and PayPal Working Capital to help finance their expansion.

    [Featured image via PayPal]

  • Simple UX Tips to Keep Your eCommerce Store from Losing Money

    Simple UX Tips to Keep Your eCommerce Store from Losing Money

    Shopping cart abandonment is a big problem that can lead to huge loses in revenue for your eCommerce business. However, there are various reasons why shoppers abandon their carts. Some customers might just want to browse your store items while others are simply not interested in what you have to offer. While some reasons for shopping cart abandonment are out of your control, improving the user experience of your online store will get more customers pass the checkout. 

    Understanding the Importance of UX

    User experience, or UX for short, pertains to the overall feeling a customer has when interacting with your eCommerce store. How positive the UX is usually depends on how enjoyable and easy it was for the visitor to navigate the store, find what they were looking for, and place an order. Conversely, issues like unclear pricing, site errors, and insufficient payment methods can cause people to abandon their carts.

    Companies might argue that loyal customers will put up with slight inconveniences. But these days, shoppers have numerous options for buying products and services online. Shopify.com alone has more than 500,000 merchants in about 175 countries. Regardless of how good your product or service is, there are competitors that offer something similar. And if they also provide a better user experience, well, it’s not hard to imagine where the customers would go.

    Ways to Improve UX in Your eCommerce Store

    A good UX can help attract new customers. More importantly, it helps online retailers retain existing customers and boost customer returns. If you want your clients to remain loyal and keep coming back, then you should look for ways to improve your store’s UX. Here are some suggestions:

    1. Enhance Search Results

    About 30 percent of your site’s visitors will be using the search tool. These guests know what they want and are very motivated to purchase it. So you should make it easier for these shoppers to find the product they want by enhancing your site’s search feature.

    Consider where your search bar is located. Place it in a prominent location, like the page’s header. Look at how Amazon positioned theirs—at the top center of the page. Make sure your website’s search feature can be found on every page. This consistency will make your product catalog more accessible and browsing go more smoothly.

    2. Use Good Photos and Improve Product Description

    One disadvantage to online stores is that you can’t hold the product, and customers want to see and touch things they plan on buying. One way to counter this dilemma is to provide clear and captivating images of the product.

    Online sellers have to make sure that they capture key product details in the photograph. Brands should ensure they display large product images and complement them with several alternative pictures and zoomed-in images. Don’t forget the product description. Add key information like available colors, size guides, weight, and other important specifications.

    3. Improve the Checkout Process

    A long and complicated checkout process is one of the main reasons for shopping cart abandonment. Luckily, there are some things you can do to make checking out go more smoothly. First, get rid of all unnecessary fields on the checkout form, like Gender or Birthday. Just stick to the information you really need.

    It’s also a good idea to optimize your site for mobile checkout by using big fonts, larger input fields, and a clear call-to-action (CTA) button. There should also be an indication to the user that their order is being processed. The “loading spinner” can be useful at this point, and it’s something that users would expect to see.

    4. Provide Good Customer Service and Positive Customer Interaction

    There are a number of small, and often neglected, things that can lead to positive customer interaction. Ensuring that banners, CTA buttons, and photos link to the right product is one. Using area maps to link to a specific product when there’s more than one being shown in a photo is another. You don’t want to get your customer’s frustrated. Help them find what they’re looking for and give them a positive experience to remember.

    Image result for live chat

    [Graphic via Wix.com]

    Pay attention to customer reviews, comments, and emails. Make sure you respond to all your users on your different social media outlets. A live chat system is useful since it gives users the chance to contact you immediately, like when they’re about to order but have some questions before making a purchase.

    A positive customer experience will do wonders for your store. Take advantage of the numerous tools and suggestions open to you on how to improve your site’s UX. But make sure you test it thoroughly.

    [Featured image via Pixel.com]

  • Microsoft Announces Huge Price Cut for Azure Cloud Services, Now Just $100 Per Month

    Microsoft Announces Huge Price Cut for Azure Cloud Services, Now Just $100 Per Month

    Microsoft Azure customers were pleasantly surprised today. The cloud computing company just announced that it has substantially dropped the price for its Azure Standard support to just $100 per month, making it the most affordable support package among the big three cloud computing firms.

    The price slash of the Azure Standard support, which was previously priced at $300 per month, was announced in a post via Microsoft Azure’s website. Despite the drop, however, the company promised an even faster initial response time of 1 hour, which was previously set at 2 hours, for critical cases. The company also promised the continuation of the current package’s feature of unlimited 24/7 technical and billing support for the client’s entire organization.

    The price cut is being offered to eligible Azure customers. These are customers who purchased the Azure Standard support package directly from the Azure.com site under the Microsoft Online Subscription Agreement (MOSA).

    However, the $100 per month offer is not applicable to all regions. For still unspecified reasons, customers based in Germany are apparently not included in the price cut.

    Azure’s drastic price reduction for its Standard support could start a price war among the big three players in the cloud computing industry. It is possible that competitors Amazon Web Services (AWS), as well as Google Cloud Platform, might be forced to introduce price cuts of their own to make the pricing of their services even more competitive.

    At $100 per month, the AWS Business plan costs as much as the new Azure Standard support. However, that is only the starting price because clients usually end up paying more for additional charges based on their monthly usage fees.

    Meanwhile, Google is charging a higher monthly rate for its standard support at the moment. Basic support costs $150 per month and its response time for business critical issues is even slower at 4 hours compared to 1 hour for Azure customers.

    [Featured image via Microsoft]

  • Apple Announces ‘Business Chat’ with Upcoming iOS Update

    Apple Announces ‘Business Chat’ with Upcoming iOS Update

    It seems that more and more tech companies are starting to monetize their messaging apps to meet the communication needs of businesses. The latest company to go this route is Apple, which recently announced that it will be launching Business Chat, a feature that was actually unveiled during last year’s Worldwide Developer Conference.

    Apple will be releasing a new operating system update this Spring, the iOS 11.3. The company will also introduce a host of new features along with the iOS update, one of which is the Business Chat.

    With the Business Chat feature in place, users will be able to talk directly with a company’s business representative via the iMessage app. In addition, the new feature will offer payment capabilities via Apple Pay as well as make appointments if such is applicable to the business.

    The move seems to signal Apple’s serious intent to enter into the niche. SnapChat made a similar move earlier this month by launching its own WhatsApp Business app.

    While many people may not be used to using chats to contact companies, demand for business messaging is increasing. In fact, a Facebook-commissioned Nielsen study concluded that the majority of consumers would actually prefer messaging a business than calling their hotline. Based on the survey, 56 percent expressed a preference in using text to contact companies. Furthermore, a total of 67 percent believed that business messaging is going to pick up in the next two years.

    However, it will be a big challenge for Apple to make it big in business messaging given its smaller number of users. Facebook Messenger has a head start with around 1.3 billion users using the app with 80 percent of its 65 million businesses users already using the platform to connect with customers.

    While WhatsApp may be a bit late in entering the business chat segment, Apple can’t compete in terms of the size of its user base. WhatsApp has around 1.3 billion users worldwide.

  • How to Deal With After-Christmas Returns in January

    How to Deal With After-Christmas Returns in January

    People think that the weeks before Christmas are the most profitable time for retail and eCommerce businesses. That certainly is true, as evidenced by the $114 billion that eCommerce businesses are estimated to have generated in the last holiday season. But January is also a very important time for businesses in terms of profit and product returns.

    January is the month of the dreaded “return season.” According to the National Retail Federation, Americans returned $284 billion worth of products in 2017. About 25 percent of those products were returned within the weeks following the Christmas holidays, mostly in January. Moreover, the rate of product returns is particularly high for eCommerce businesses with about a 30 percent return of all products ordered online compared to only 8.89 percent purchased in brick-and-mortar stores.

    Given the numbers, retailers and eCommerce businesses that do not have a solid return policy in place could see significant cuts into their business’s bottom line at this time of year. 

    While dealing with product returns is admittedly not ideal, research has shown that customers who had a good return experience also become repeat customers. Here are 3 ways you can deal with Christmas returns and keep customers loyal.

    Make Sure Return and Exchange Policies are Clear

    It’s vital that your customers know what your company’s return and exchange processes are. Make sure you have clear and easy to understand policies and instructions posted on a page designed specifically for returns. Use several strategies to make this easier for customers, like utilizing a how-to video or web page with diagrams and a list of bullet points. Some retailers even go so far as to include return instructions and return labels in every order.

    Have a Sound Return and Exchange Process in Place

    Having a reliable exchange process firmly in place before big shopping seasons will ease the pressure on your staff and make transactions go smoother. This is essential for companies that allow goods to be purchased online and returned in the store, and vice versa. This multi-channel system not only ensures customer loyalty, it also encourages shoppers who return items in-store to make additional purchases while at the shop.

    But in order for this to be successful, retailers should use a platform where the staff can easily see online and in-store inventories and check whether the product is covered by the company’s return policy. It will also make it easier to see whether there are any cash back or on-the-spot credit promos in place.

    Transform Returns Into Exchanges

    Another way to deal with returns is to transform it into a product exchange. A lot of customers want to or are willing to exchange an item. Maybe they want to exchange a dress for one with a different color or gadget for one of a different model. However, some consumers are not aware that they can exchange their item for something else.

    Make sure your customers know they can do this. Have the information posted on your site or place friendly customer service staff on the floor who can point out promos and explain the exchange process. Remember that exchanges are far better than giving refunds.

    Product returns and exchanges are part of doing business. Retailers can cut down on their losses by ensuring that their customers keep coming back. A good return and exchange policy, great customer service and a solid return process go a long way in keeping customers happy and loyal.

  • 4 Tips for Personalizing Your Next Email Campaign

    4 Tips for Personalizing Your Next Email Campaign

    When it comes to online marketing, setting up an effective email campaign frustrates many business owners. Most operate under the assumption that having an email opt-in plugin and signing up with an email marketing service is enough to get high conversions. What they have failed to grasp is the importance of email personalization.

    One study has revealed that 70% of businesses neglect to personalize their emails. Making this mistake significantly undermines your campaign, considering that personalized emails boost revenue six times more than generic ones. Personalization yields a 41% higher click-through rate and recipients are also 29% more likely to take action to your message.

    Image result for email personalization

    [Graphic via FormGet]

    So how can you personalize your email marketing to boost your campaign? Here are four tips:

    Tailor it to the Demographic

    One of the best ways to boost response rates is to tailor your email’s look and message to specific demographic elements, like age and gender. If you’re selling care products, cosmetics would grab the interest of women while men would want to know more about shaving products. Making use of a distinct appeal to the preheader can also encourage open rates. For instance, referencing winter when selling snow boots and winter jackets to people in states experiencing cold weather will catch their attention.

    Come Up with the Right Questions

    “Ask and ye shall receive” is a good mantra to remember when designing your email marketing campaign. A lot of businesses simply assume they know what the customer wants only to have their messages ignored. Instead of assuming, ask your audience key questions, like their reason for becoming a user, subscribing to a newsletter or visiting their website. It’s simple and can give you valuable data.

    Wedding specialist Paper Style hit the goldmine when they asked visitors on their site whether they were preparing for their wedding or someone else’s. Not only did the simple question quickly segmented probable clients, it also gave them insight on the type of correspondence to send to their prospects.

    RewardStream - 45 Examples of Personalized Marketing2

    [Graphic via PaperStyle case study]

    Time it Well

    Timing is everything, especially in email marketing. Every customer has a distinct routine when it comes to emails. Some check once in the morning while others look at their inbox every half hour. Sending an email when your client is most likely to check their inbox and will help boost sales.

    Related image

    [Graphic via Fusion BPO]

    However, finding the right time can be challenging. A number of email service providers are now offering tools that can study when subscribers check their inbox and make adjustments to the delivery time.

    Personalize Your Brand

    Don’t limit personalization to emails or to how you use your customer’s data. Your brand can use a personal touch as well. Personalizing your brand humanizes it, making it easier to connect with your customer. It could even boost your click-through rate.

    This was clearly shown in an experiment conducted by HubSpot. The company sent two emails to test what else could be done to make them feel more personal and to enhance customer engagement. One email was from the company itself, while the other was from someone in HubSpot’s marketing team.

    sender name test resized 600

    [Graphic via HubSpot blog]

    Interestingly, the results showed that more people clicked on the message sent by a person than the one sent by a business. This demonstrated that people were more amenable to a more personal touch in business. So if you want a more positive response, a personalized email is the way to go. Aside from using a real person, you can also try making it more informal. Using a conversational tone or the pronouns “I” and “we” can also improve your response rate.

    [Featured image via Pixabay]

  • 5 Tips to Help Your Business Identify Payment Fraud

    5 Tips to Help Your Business Identify Payment Fraud

    Previous data security breaches that targeted large retailers like Neiman Marcus and Target have caused merchants and consumers alike to be more wary about payment fraud. Credit card companies have automated processes that allow them to spot fraud even before their clients realize that something is wrong.

    Unfortunately, payment fraud doesn’t just happen online. Business owners should remember that it can happen in brick-and-mortar stores as well. To avoid this kind of problem, businesses should be able to recognize potential payment fraud.

    5 Tips for Identifying Payment Fraud

    Suspicious Shopping Behavior

    A customer’s behavior while shopping can give a hint as to whether something illegal is happening. Shop personnel should take note of customers who look agitated, nervous, or in a rush to leave. Take into account people who appear to be ringing up purchases in numbers that are greater than what the average customers buy, or those who buy items indiscriminately, regardless of the size or cost.

    Other red flags to watch out for are those who seem to take an unusually long time to sign the sales slip or who look at the signature on the back of the credit card before signing.

    Unusual Order Amount

    It’s practically unheard of to buy 50 items of the same product, especially if they’re expensive. While most consumers won’t do this, cybercriminals would since they’re using stolen cards. Pay attention to multiple orders, particularly if the orders are for electronic devices, clothes, jewelry, and other high-end items.

    Billing and IP Address are Not Compatible

    An Internet Protocol (IP) address is used to identify devices and to give a general location of the user. So an IP address that’s incompatible with the customer’s billing address requires closer attention. For instance, if the person’s IP address is located in Japan but the credit card is registered to someone in Lexington, Kentucky, the transaction might be fraudulent. Verify details by calling or emailing the card company.

    Owning an Abundance of Credit CardsImage result for many credit cards

    The typical American consumer only has an average of 2.6 credit cards. Having an abundance of credit cards associated with a lone IP address or account could be an indication of fraud. While it’s possible the account holder just likes having numerous credit cards, it’s still best to take a closer look at the account.

    Expedited or Rush Shipping

    Some malicious individuals want to give off the impression that they’re in a hurry by demanding rush shipping, regardless of whether the cost of shipping will cost more than the actual value of the purchase. Businesses should be wary of high shipping cost and take additional steps to check the transaction. They should also be extra careful of expedited orders where the billing address is different from the shipping address.

    What to do if In-Store Fraud is Suspected

    Personnel in brick-and-mortar stores face a conundrum when it comes to probable payment fraud. On one hand, no business wants to antagonize innocent customers but on the other hand, personnel can’t ignore fraud. So what is a business to do?

    Major credit card issuers like American Express and Visa have issued guidelines on what staff could do. One very important rule is to never confront or try to apprehend the customer. Doing so would only put the employee and other people in danger.

    Employees can also verify the card’s validity by calling the authorization center and ask for a Code 10 authorization.  The call involves a series of yes or no questions, so the customers will not know that their purchase is being flagged as a suspicious transaction.

    [Featured image via Pixabay]

  • Snapchat’s Redesign Gets Slammed by Users

    Snapchat’s Redesign Gets Slammed by Users

    Snapchat, the popular video and photo-sharing app, has been having a slew of bad luck recently. In the first quarter of 2017, Snapchat suffered a loss of $2.2 billion in revenue and just this past September watched millions of users abandon its platform. In an effort to rebound, Snapchat rolled out a redesign aimed at making the site easier to use, encouraging more engagement.  On Thursday, it went live in a few countries including the U.K., Australia, and Canada. However, it still has yet to roll out to its largest market, the U.S.

    Unfortunately, Snapchat’s redesign was met with a firestorm of complaints mainly over the merger of the original ‘Stories’ screen with the page that shows individual messages and snaps.  At the moment, app store reviews have been overwhelmingly negative, with around 83 percent of users giving it a score of one or two stars. (Mashable)

    [Featured image via Pixabay]

  • Is Mark Zuckerberg Planning to Bring Bitcoin to Facebook?

    Is Mark Zuckerberg Planning to Bring Bitcoin to Facebook?

    Thanks to 2017 being a banner year for a host of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum, everyone on Earth is now aware of the existence of these digital assets. Buoyed by the massive market gains last year, cryptocurrencies, in general, seemed to have passed the litmus test to qualify as a legitimate investment vehicle. With its success, a number of institutional investors have already joined the fray, grabbing up virtual assets to diversify their portfolios.

    However, Bitcoins viability as an investment option is not the only exciting part of the equation. Apparently, even big tech companies are amazed at the Bitcoin model and are now looking for ways to adapt the technology behind the cryptocurrency to improve their own businesses.

    In particular, Facebook founder Mark Zuckerberg looks up to the Bitcoin model seeing it a possible solution to problems that Facebook, and the internet in its entirety, are facing today. As Zuckerberg puts it, the internet today is way too centralized, controlled only by a handful of tech giants including Facebook. Now, Zuckerberg wants to study technologies such as encryption and the blockchain as possible means of decentralizing internet control.

    Back in the 1990s during the early years of the internet, many view it as a way to decentralize power – to put “power in people’s hands” as Zuckerberg puts it in his Facebook post. However, the opposite has happened and, today, internet control is so centralized that a few corporations can make sweeping decisions that will affect all netizens. Furthermore, even governments use the technology to spy on its citizens, a far cry from the original promise that heralded the internet as the place where people can be free from any form of political interference.

    “But today, many people have lost faith in that promise,” Zuckerberg noted.

    “ With the rise of a small number of big tech companies—and governments using technology to watch their citizens—many people now believe technology only centralizes power rather than decentralizes it.”

    — Mark Zuckerberg, Facebook CEO

    The way Zuckerberg sees it, one way to redress the imbalance is to use technologies that are counter-trends to this centralization. This includes encryption as well as cryptocurrencies, technological trends that seem to have the ability to “take power from centralized systems and put it back into people’s hands.”

    At the moment, Zuckerberg is just planning to use the technology behind Bitcoin to improve user experience on the social media platform. But of course, it does not mean that he won’t allow Bitcoin itself to be an accepted mode of payment for transactions done via Facebook.

    After all, Facebook also harbors ambitions to enter into eCommerce, an area that is currently dominated by well-entrenched rival Amazon. By accepting the popular Bitcoin as Facebook’s currency, the move could unlock the huge eCommerce potential of Facebook’s more than a billion active users.

    [Featured Image by YouTube]

  • Should You Market Your Business at a Trade Show? Here’s What You Need to Consider

    Should You Market Your Business at a Trade Show? Here’s What You Need to Consider

    The trade show business has been steadily rising the past few years and is projected to keep doing well. These events provide companies with a platform wherein they can launch new products, showcase goods, and network. But like any business opportunities, one has to carefully weigh the pros and cons of joining a trade show. While some sectors believe a company will benefit greatly from it, others are of the opinion that trade shows are just a waste of money. So, which is it?

    The Case for Joining Trade Shows

    • Increased Brand Awareness: One of the best things about joining a trade show is the boost of awareness it provides your business. You can put your brand out there in a major way and expose your company to numerous prospects. Seeing your company in action can also improve the odds of being taken seriously by clients who are already on your mailing list or sales funnel.
    • Secure Deals and Close Sales: Trade shows are great places to get your clients in one place and talk shop. This is particularly helpful to companies with sales teams that have to regularly travel to connect with clients. If you have signed up to be an exhibitor at a trade show, you can set up appointments with clients and prospects in advance and meet them on neutral ground, away from the distractions of their offices and regular schedules.
    • Generate Leads: The leads you get at a trade show can give your sales division plenty of prospective clients and months of work. These events will expose you to a broader market while giving you the chance to make a positive impression on a lot of prospects simultaneously.

    Why Trade Shows Could Be a Bad Idea

    • Exhibits Can be Expensive: Being part of trade shows entails shelling out money for the booth, setting it up and tearing it down, transporting all the equipment you need to the site, and paying the people who will man your booth. You’ll also need to consider the cost of marketing materials and small giveaways for your prospects. While you’re ensured of leads, it might take you months or even years to recoup the money you invested in a trade show.
    • Low-Quality Leads: Not everyone who has stopped by your booth and made inquiries will purchase your product. Bear in mind that while trade shows attract big crowds, not everyone there has the clout to make decisions for their company. It’s best to treat this event as an opportunity to generate leads, but understand that you still have to qualify those leads.

    Questions to Ask Yourself Before Deciding to Join a Trade Show

    It’s easy to see why many businesses are keen on joining such a powerful gathering. However, being part of a big event can either give you the boost your company needs or hinder you from reaching your goals.

    Consider the following before deciding whether you want to be part of a trade show or not:

    Do You Have Enough Funds for it? 

    There’s no guarantee that joining this types of events will generate a positive return on investment (ROI). If you don’t have the financial means to spend on an exhibitor’s booth or you’re not sure you’ll secure the meetings you need, then it’s best to let this opportunity go for the meantime.

    Assess your business’ standing. Maybe it would be better to participate in the next event or to sign-up for a smaller, local trade show. This is especially helpful for small companies or those based in urban areas as it’s less expensive.

    Is the Expected Crowd Close to Your Target Demographic? 

    The golden rule of trade shows is to join events where the expected audience closely matches your demographic. Before signing up, find out from the show organizers about the attendees and ask questions that are pertinent to your business. Keep in mind that even if the expected attendees are in your target industry, that doesn’t necessarily make them ideal prospects. You’ll also want to know how many of them fall into the specific segment of the industry you are targeting. This is to ensure that if you do exhibit at the event, your service or product fits the audience and is something that they need.

    Will it Provide New Opportunities? 

    Trade shows are not all about the ROI. Companies should also consider what opportunities the event will give them. Aside from potential sales and leads, these shows can also be the means to form solid partnerships with other businesses or to learn from different brands. These events can also be wonderful marketing tools, as it gives your company the chance to impress thousands of visitors.

    Brands can benefit a lot from trade shows. But it’s best to critically consider what your company’s goals are and weigh them against the pros and cons of these events so that you’ll get the most out of trade shows.

    [Featured image via Pixabay]

  • A Look at How the Google Pigeon Update Affected Local Search Results

    A Look at How the Google Pigeon Update Affected Local Search Results

    Business owners, marketers, and SEO specialists all become apprehensive whenever Google makes an announcement regarding changes or updates to its algorithm. So it was not surprising that many of them had mild panic attacks when Google Pigeon was rolled out in July 2014. But how did the Pigeon affect search engines three years down the line?

    What is Google Pigeon?

    The moniker “Google Pigeon” was coined by the SEO experts over at Search Engine Land after Google revealed that the update didn’t have an official internal name. With the update, Google was aiming to produce new and improved results by aligning a local search algorithm with a conventional organic one. This would populate search engine results pages (SERPs)  that highlight local businesses that already had a solid organic presence.

    The Pigeon algorithm was tweaked with enhanced distance ranking parameters to bring up more relevant local search results based on user proximity. The improved algorithm would use Google Map results and other conventional web searches to get the best query results. As always, Google remained mum about the update, but SEO experts speculate that hundreds of ranking signals for both Google Maps and Google Search were also implemented. 

    Google Pigeon’s Impact on Local SERPs

    The change in search engine results after the rollout of the Pigeon update actually became more noticeable to Google users a year after it went live. Local and small businesses felt the impact as well, although the results were a mix of good and bad. While the Pigeon algorithm was touted as the update that had the most impact since the Venice update of 2012, the company also went through the expected glitches and issues. Google reportedly launched a number of updates to correct these problems, but the company never gave a confirmation.

    One clear result of the Pigeon was the number of businesses that appeared in the search results. Before the Pigeon was introduced, a “local pack” of seven or so businesses would appear in the search results, along with their addresses, business hours, and even star rating. But now, your local search will yield just three names in the pack with more details, like phone numbers, reviews and even product descriptions or menus posted by users.

    Related image

    Online directories like TripAdvisor, Urbanspoon, and Yelp were also featured more prominently. This was a clear deviation from previous algorithms when the search engine appeared to favor its own reviews and which led to Yelp complaining of mistreatment.

    Users undoubtedly prefer being able to have all the key information without having to click through different links. However, companies and marketers could view the new results as a threat to their landing pages, conversion rates, and website traffic. After all, with Google already providing users with critical details (ex. phone numbers, business hours), they don’t have to go to the company’s official website anymore.

    Google did eventually confirm that the aim of Pigeon was to get local search to look and behave more like traditional search. The search now allows users to find relevant results more quickly and with fewer steps.

    Regardless of whether Google Pigeon had a positive or negative impact on a business, companies and their marketers still have to come up with new ways to drive traffic. This could mean maintaining or improving the quality of the content, posting more frequently, or keeping a more critical eye on user reviews.

    [Featured image via Pixabay]

  • How to Get Shoppers to Download and Use Your Retail App

    How to Get Shoppers to Download and Use Your Retail App

    Now that the holiday season is fast approaching, retailers are doing everything they can to attract consumers. But what they’re not doing is getting consumers to shop using their retail apps.

    According to the latest Pulse of the Online Shopper report from UPS, four out of every five shoppers around the world have used a retailer’s app. The numbers are not so surprising as the rise of millennial shoppers mean that more purchases will be done on a mobile device.Image result for time spent on app by us consumer 2017

    It’s a fact that people are on their mobile devices longer now and a huge chunk of that time is dedicated to shopping-related tasks. For instance, 72% of the time is used to track an order delivery while 69% is used to compare prices among various retailers. But despite these impressive numbers, a small segment of consumers are actually using a retailer’s mobile app, much to the consternation of these companies.

    Reasons Why Shoppers are Not Using Retail Apps

    The sad truth is that while many shoppers are willing to download retailer mobile apps, they are quickly abandoned or forgotten. Here are the reasons why:

    Shoppers Don’t Know Their Favorite Retailer Has a Mobile AppRetail Mobile Apps

    It would appear that one major reason why shoppers are not using retail apps is that they’re not aware their favorite shop has one. Business Insider mentioned that 64% of American consumers are in the dark about this issue. This is a big blow for retailers who have focused time and money on mobile apps because they give higher conversion rates than mobile browsers.

    It’s imperative for retailers to find a way to get around this visibility issue. Failure to do so will lead to the industry’s stagnation and can cause companies to miss out on the $285 million that consumers are expected to spend on mobile purchases by 2020.

    Consumers Prefer Using Retailer’s Website

    The UPS report also revealed that 53% of shoppers around the world prefer using a brand’s mobile website rather than the mobile retailer app. As a matter of fact, only 8% of shoppers actually use a retailer’s app in-store. The main reason for this is that these apps do not offer anything different from the brand’s mobile site. Shoppers want retailer apps that will give them a better shopping experience but they usually just receive the same incentives or discounts that they would get from the mobile site.

    Shoppers are Worried About Online Security

    It’s not surprising that a lot of people (31% according to the UPS report) are wary of using retailer mobile apps because of security concerns. Shoppers are worried because they don’t know how the stored information retailers will receive will be used.

    Retails Apps are Difficult to Use or not Working

    An app that’s not user-friendly or doesn’t work will definitely cause users to lose interest. This particularly holds trueLeading Reasons that US iPhone Owners Delete Retailers' Mobile Apps, May 2016 (% of respondents) for retailer apps. The problem is compounded by retail brands not investing enough in these apps, with multiple companies outright dropping their retail apps from the App Store or from Google Play. Meanwhile, other retailer apps have not even been updated since 2016.

    There are also complaints about how retail apps are not optimized for mobile devices or how shoppers can’t access these apps in-store because of connectivity issues. One survey showed that 92% iPhone users deleted retailer apps because the program was too slow or it crashed or froze.

    What Can Retailers do to Improve App Download and Use

    While it’s a sad fact that many companies have not been able to utilize retail apps to their full advantage, luxury brand Gucci have figured out how to make sales through their app.

    Gucci has invested heavily in its retailer app and has used it to successfully integrate customers’ online and offline shopping experiences. Just recently, the fashion giant unveiled a new feature called the “Cabinet of Curiosities.” App users would have to scan a mobile sticker in Gucci’s store window displays to activate digital artist Ignasi Monreal’s latest masterpiece. Once done, shoppers can check out the brand’s 2017 gifts selection. Gucci is also using fun elements like stickers, emojis, and VR videos to attract consumers and boost the odds of securing direct purchases.

    If retailers want to emulate Gucci’s success, there are certain steps they can take to optimize their retail apps:

    • Push for Wish Lists: Entice app users by offering deals that they can’t find on the mobile website or anywhere else online, like exclusive Wish Lists. Providing customized gift ideas, complete with price alerts and stock numbers could interest consumers into using the retail app.
    • Reward Loyal Customers: Make your hard-core customers feel even special by giving them special information or early access to seasonal deals. This will stoke their desire to keep using your app and continue their dedication to your brand.
    • Give Easy Access with Touch ID: Making it simpler and easier for customers to access their Wish Lists, Shopping Cart or Checkout will draw more in more users. Integrating a Touch ID feature will help with cart conversions.  

    Getting your customers to download your business app and make purchases is a challenge. However, identifying your app’s weaknesses and employing effective strategies to make it fun and useful to the customer could yield the boost in revenue your business needs this holiday season.

    [Featured image via Techno Softwares]

  • Amazon Web Services Improves AI for New Consultancy Program

    Amazon Web Services Improves AI for New Consultancy Program

    Amazon has rolled out a consultancy program with the goal of assisting consumers with cloud machine learning. The company plans to do this by connecting clients with their own experts.

    Dubbed the Amazon ML Solutions Lab, it helps clients unfamiliar with machine learning to find beneficial and efficient uses of it for their company. Amazon plans to do this by integrating brainstorming with workshops to help clients understand machine learning by cloud better. The company will also be utilizing its experts to act as advisors to clients. Together they will work through the problems the company will face and then come up with machine learning-based resolutions. Amazon’s cloud experts will also be checking in with the company weekly to see how the project progresses.

    No two solutions will be alike though, as the ML Solutions Lab will work according to the needs of the business. For instance, Amazon could send their developers on site if the client wants a more hands-on approach or clients could go to AWS’ Seattle headquarters for training.

    How long the ML Solutions Lab will work with the company will also depend on the client. But it’s expected to last anywhere from 3 to 6 months.

    Companies that have more experience with machine learning can avail of the ML Solutions Lab Express. It’s an expedited program that runs for a month and begins with a 7-day intensive bootcamp in Amazon headquarters. However, this program is only offered to companies with machine-learning quality data since it’s geared towards feature engineering and building models swiftly.

    Amazon has not shared any details yet on how much the program will cost companies. No information has been posted on its website yet and company representatives are reportedly not responding to any requests at the moment.

    Vinayak Agarwal, Amazon’s senior product manager for AWS Deep Learning, pointed out in a blog post that the company has been immersed in machine learning for the past two decades. He also added that Amazon has pioneered innovations in areas like forecasting, logistics, supply chain optimization, personalization and fraud prevention.

    Agarwal further enjoined clients to take a closer look at the Amazon recommendations and fraud prevention ML Solutions Lab, saying that they will have access to the experts that developed most of the company’s machine learning-based products and services.

    The Amazon ML Solutions Lab is being offered to customers worldwide. However, the ML Solutions Lab Express is currently exclusive to US clients.

    To get started with the Amazon ML Solutions Lab, visit https://aws.amazon.com/ml-solutions-lab.

    [Featured image via Amazon Web Services]

  • 5 Future-Proofing Tips That Will Keep Your Brand Relevant in 2018 and Beyond

    Consumer trends move at such a dizzying speeds that companies have to work double time just to keep up with the changes. It’s understandable that company owners and marketers don’t want to be left behind. After all, there seems to be more competition for attention every year, more technological advances to absorb, channels to be active in, and higher expectations from customers.

    Now more than ever before, companies need to future-proof their business and marketing strategies in order to stay relevant in 2018.

    Understanding the Importance of Future-Proofing

    “Future-proofing” describes a technological system, a product, or a service that would have to be updated as technology changes and improves.

    In business terms, future-proofing means that you’ll need to implement a sound strategy to keep up with changes in your industry and the needs of your clients before they happen.

    It should be pointed out though that regardless of preparation, you can’t really future-proof something 100%. However, companies can plan how they’ll adapt their systems in order to connect with their clients on the correct channels, using the most relevant content at the right time.

    5 Strategies to Keep Your Brand Relevant

    1. Always Listen and Touch Bases With Your Customers

    Today’s marketing is all about dialogue, and it appears that this will remain true in the foreseeable future. Your company has to be able to communicate with your client in order to remain relevant. It’s also vital that you listen to customer feedback.

    Image result for importance of online reviews statistic 2017

    Graphic via StartupGuys.net

    Regardless of whether you’re conducting a survey, using live chat to talk or reading customer reviews you have to pay attention to your audience and try to spot upcoming trends. The insights you get from listening and having a dialogue with them can help improve the marketing campaigns you presently have and those that you’re planning for in the future.

    2. Make it a Habit to Learn New Things Regularly

    Always stay on top of upcoming trends and why they’re important. Learn new things by studying vital and new marketing resources from reputable researchers and companies. Whether you’re outright studying a course, listening to content or just reading and watching new trends and technologies, always be open to learning about it.

    3. Invest Smartly With Your Marketing

    It’s never a good idea to blow your entire marketing budget on one strategy. The risk of losing is simply too high. A better move would be to invest small but smarter. Companies can try alloting small amounts of time, money and resources and invest them in various areas of marketing just to see which sectors perform well and which don’t. It’s also a good way to gain exposure and experience in different marketing techniques.

    This approach will also be valuable if a particular marketing medium becomes more profitable or relevant over time. If that happens, you already have a foothold and have the right knowledge and experience to drive results in your expected direction.

    4. Build a Pro-Active Team

    Your team is just as important as your strategy. Build a team that’s pro-active and understands the importance of future-proofing the company’s marketing efforts.

    It’s important that your team is comfortable and adept with changes. A good team is one that questions the company’s processes and strategies in a bid to improve them. They should also be aware of what’s happening outside the businesses and its impact.

    5. Mentor Millennials

    Millennials will dominate leadership roles in the future and you want your staff to be prepared. This generation prefers formal training and mentoring in order to learn the system and feel engaged. Design a program where a younger employee is paired with a mentor. Provide onboarding programs that will help this key group better understand your company better and their present and future role.

    [Featured image via Pixabay]

  • Should You Outsource Digital Marketing for Your Business?

    Should You Outsource Digital Marketing for Your Business?

    For most companies, digital marketing is essential to growing and retaining their customer base. Unfortunately, a lot of businesses are in the dark when it comes to implementing and managing this type of marketing strategy. As a matter of fact, an informal poll conducted by Smart Insights revealed that half of the businesses that use digital marketing don’t have a working marketing plan to go on.

    But before you hash out the details on when and where to launch your digital campaigns, you’ll first need to figure out who will get the job done for you. There are two approaches to tackling this problem: go in-house or outsource.

    The Case for In-House Digital Marketing

    A lot of companies take advantage of the abundant resources, current online technology and available information on strategies and techniques to manage an in-house digital marketing group. After all, there are several advantages to going this route, most important of which is saving money. Hiring a third-party marketing agency can be relatively expensive considering you’ll need to cover their costs as well as their “markups”. Another advantage would be having a dedicated team who knows the company’s specific goals and are working on a documented digital marketing plan. 

    However, one major problem that an in-house team often encounters is the steep learning curve employees without the relevant skill set face. More often than not, this would cause a slower ramp-up time for marketing campaigns. It’s also a sad fact that more than half of in-house digital marketers are ineffective because they learned about the system on-the-job, and did not undergo any official training.

    Choosing to Outsource Digital Marketing

    Outsourcing your digital marketing needs can be very beneficial, particularly if this task is not your forte. Tapping the services of a digital marketing group can give you several advantages, like having a team of experts readily available. This means that you won’t have to worry about a marketer going on a vacation or taking a sick leave. Your marketing needs will always come first, regardless of whether there’s a holiday or not.

    One big advantage of using a digital marketing agency is the insight it can give your business. Employers are often so consumed by the day-to-day running of the company that they don’t have time to understand the business more deeply, like studying what brings prospective clients to the site or how to optimize the company’s online presence. An unbiased set of eyes will give you a new outlook on how to handle your marketing needs. These marketing experts are also likely to be more up-to-date on the latest techniques and strategies being utilized in digital marketing circles.

    Perhaps the most important benefit outsourcing your digital needs give is that you get to focus on what’s crucial to your company. Businesses who opt to outsource do so in order to keep the marketing process separate from the company’s core operations. By being distinct, the marketers have more freedom to develop and execute winning marketing strategies and keep up with changing business needs.

    Graphic via Quartsoft.com

    Should You Outsource Your Digital Marketing Needs?

    Before you make a decision on whether to outsource your digital marketing needs, take the time to determine what you really need in terms of marketing. You should also consider the following when you begin your search for an outside marketing agency:

    • Your Company’s Key Performance Indicators (KPIs): Knowing what your KPIs are will help narrow down what you need help with and what the marketing agency can do for you. KPIs will influence the strategy the agency will suggest, as conversions, traffic, cost and revenue per lead are key KPIs for businesses. Which means this is the first question any reputable digital marketing company would ask. Consider it a red flag if the agency doesn’t inquire about it. Conversely, you should also ask digital marketing specialists what they think about your KPIs and how to optimize it. A good company would help you pinpoint weaknesses in your current marketing strategy and introduce new ideas and strategies to help you get the best results for your business.
    • The Digital Agency’s Track Record: Don’t take recommendations at face value. Do your due diligence and check the marketing company’s track record. Ask what types of clients they have handled before and their success record. Most agencies would have case studies and a portfolio on hand. But bear in mind that some clients do ask for non-disclosure agreements (NDAs). However, agencies that can’t provide a single client to show or refer should not be taken seriously.

    While there are other factors to consider, the bottom line is that outsourcing your digital marketing needs would depend on what you actually need. If you want to hit targets consistently and predictably then maybe an in-house team is the way to go. But if you want to focus all your energy on the core aspects of your business, then a digital marketing agency can save you time and offer more flexiblity.