WebProNews

Category: Retail & eCommerce

eCommerce, Online Retail & Retail News

  • How to Find Seasonal Employees For Your Small Business When Unemployment is Low

    How to Find Seasonal Employees For Your Small Business When Unemployment is Low

    Target, Macy’s and other retailers are already gearing up for the upcoming holidays and the accompanying shopping madness. Insiders are anticipating a good season, thanks to consumer optimism and low unemployment. But can retailers find enough seasonal workers to fill their needs?

    Target is aiming to hire 120,000 seasonal employees while Macy’s plans to bring onboard 80,000. The Gap is reportedly looking for around 65,000 part-time workers. Meanwhile, delivery carriers are also looking for more workers in anticipation of the upcoming surge in online shopping. FedEx is hoping to sign up 55,000 extra hands while UPS will have room for 100,000 employees.

    Unfortunately for retailers, finding extra employees won’t be easy. The US job market is very worker-friendly at the moment, thanks to the record low unemployment rate. Job seekers now have more options and can afford to be picky about who they want to work for.

    Image result for us unemployment statistic 2018

    [Image source: TalkMarkets]

    Because of this, a lot of businesses have implemented some strategies in the hopes of seducing seasonal employees. For instance, some retailers are offering customized incentives or hiring HR contractors. Others businesses are opting to give better training to their existing workers instead of hiring additional ones.

    As a small business owner, you’ll also need seasonal employees. However, the hiring strategies used by large enterprises might not be effective for you. But that doesn’t mean they can’t compete. If your small business needs more workers for the holidays, here are a few strategies to help you fill your roster.

    How to Get Seasonal Employees Interested

    1. Tap Into Your Team’s Network

    One of the best sources of temporary employees is through your current staff members. Tap into your team’s network and ask for their help in looking for new teammates. The holiday season can be brutal and most small businesses won’t have the luxury of replacing unreliable workers at this time of year. You’ll have to hire trustworthy people and the best way of doing that is via personal referrals.

    Implement an employee referral system for your small business. This will give you a consistent pipeline of candidates while keeping current staff happy with their referral incentives. Plus, employee retention tends to be higher with referred applicants.

    2. Be Flexible With Schedules and Incentives

    Monetary incentives are often not enough to get a worker interested, especially in today’s labor market. However, customizing your job offer and the perks that come with it can get you a nibble in the job pool.

    Seasonal workers have a different motivation for taking on the job. They might need extra income for school, the position could be an internship they need, or maybe they have family commitments to meet. This also means a conventional schedule or payday might not cut if for them. Your new hires might ask to be paid daily or want the option to give you their preferred weekly schedule. Being flexible with your worker’s schedule or incentive structure will go a long way in helping you to fill your job openings in time for the holidays.

    3. Check College Campuses

    College and university campuses are a great hiring ground for seasonal workers. Many students don’t return home for the holidays and the majority look forward to earning money and getting some work experience during this time.

    Businesses are also ensured of employees that are energetic, enthusiastic and well-educated. The holiday season is also an ideal time for students to work part-time or as interns as their position comes with a definite end date. It’s a win-win situation. Boost your odds by advertising on campuses and posting on college job recruitment websites.

    4. Host a Job Fair

    A job fair is one of the most efficient ways of sourcing contract workers. However, an event like this takes time to plan and organize. But when executed properly, you can connect with numerous candidates in a short period of time.

    Join annual job fairs several months ahead of the season you want to hire for. This will give you enough time to select the best candidates and train them. Spread the word by advertising at local colleges, newspapers, and news stations. Make sure you also post your requirements on your website and through online job boards.

    5. Look at a Different Job Pool

    Don’t limit yourself to conventional job pools or postings. There are numerous organizations or programs that you can reach out to for job placements. For instance, why not get in touch with organizations that work with ex-cons or the handicap?

    A temporary HR contractor can also help fill your job openings. Recruiting is time-consuming and most many small businesses aren’t able to outsource, interview and process applicants. An HR contractor can manage your staffing requirements so you’ll have more time to focus on other critical tasks. What’s more, an HR company knows how to select the best candidates for the job. And if you’re lucky, your seasonal hire could become a permanent asset to your company.

    Businesses hire millions of seasonal employees every year. While it’s more challenging for small businesses to catch the attention of these workers, you can still do it. You’ll just have to think outside the box and come up with creative tactics. Asking for employee referrals, being flexible with incentives and tapping college students are just some ways to secure hires and be productive during the holiday season.

    [Featured image via Pexels]

  • What is Uniquely Different About the New Amazon 4-Star Store?

    What is Uniquely Different About the New Amazon 4-Star Store?

    Amazon 4-Star is Amazon’s first retail store focused on selling Amazon’s products. The first of presumably many stores just opened in the Soho area of New York City and of course has made a big splash in the media. But what’s special about this store and what makes it a unique shopping experience?

    Amazon Physical Stores VP Cameron Janes answers that question in a Bloomberg interview:

    Amazon 4-Star is Built Around What Our Customers Our Loving

    What is uniquely different is that we really built this store around our customers. It’s a direct reflection of our customers, not just what they’re buying, but really what they’re loving.

    Everything in the store is rated 4 star or above by our customers, is a top seller or is the newest trending on Amazon.com. Our goal is that customers can walk into this store and pick up anything and know that it is going to be a great product because customers online have already said so.

    The average rating of products in this store is 4.4 stars and collectively we have about 1,800 products in the store and they earned 1.8 million 5 star reviews. These are really high-quality products that our customers love. The product with the most customer reviews in Amazon 4-Star is actually the Fire TV Stick with Alexa voice remote with over 197,000 customer reviews and it’s rated 4.4 stars.

    Curation is What 4-Star is About

    Whenever your working offline you can’t have the endless aisle that you have online. When you are working offline you really have to curate and that’s actually what Amazon 4 star is all about. We have a highly curated selection from some of the top categories, the most popular categories on Amazon.com. We’ve got devices, electronics, kitchen, toys, home, and all of these hit that 4-star selection bar that we think is so important.

    Here at 4-Star what we are trying to do is create an experience where customers can come in, browse, have fun shopping find products they love. With all of these experiences, we are trying to find more ways to connect with our customers. Of course, customers love to shop online, but a lot of customers love to shop offline as well. What we can do with these experiences is create a new type of shopping experiences and help them discover new products.

    Our Focus is Connecting With Customers

    Another thing you can do in offline that you can’t do online is that customers can come in and touch the products themselves. Certainly, with our device category, customers can come in the store, play with the Fire TV, they can read on the Kindle, they can interact with the Amazon Echo and Alexa products and see how those products work in first person and make a more confident buying decision.

    Our focus here is on connecting with customers and if customers come in here and discover products that they love, we know they will come back and over time that can be something big. That’s really what we are focused on today.

  • Pandora Co-Founder: Apple, Amazon, Google is Going to Rue the Day They Let Pandora Get Away

    Pandora Co-Founder: Apple, Amazon, Google is Going to Rue the Day They Let Pandora Get Away

    Tim Westergren, Co-founder, and former Pandora CEO commented on CNBC’s Fortt Knox show:

    Part of what makes Pandora so valuable as an entity is the amount of data that it collects. There’s no service as engaging as Pandora that elicits so much feedback from listeners and the information you are gleaning right now is being leveraged to build an efficient advertising business.

    I think that Apple, Amazon, Google is going to rue the day they let Pandora get away from them. I think that this company can be the cornerstone of a global play in music unlike any other. Pandora grew to almost 100 million registered listeners in the US also with barely a dime of marketing. It was an utterly viral phenomenon. I witnessed first hand the passion of that connection with Pandora and it’s listeners. I used to do town halls across the country meeting people in person and I saw what was going on with listeners and Pandora.

    I think anybody who witnessed that would understand how vast the potential is. I hope that this combination (SiriusXM Acquisition) can realize it, but this company could do an awful lot in the hands of a global partner the likes of Apple, Google, etc…

  • LA Times Owner Slams Facebook saying “Social Media is the Cancer of Our Times”

    LA Times Owner Slams Facebook saying “Social Media is the Cancer of Our Times”

    The billionaire owner of the Los Angeles Times, Patrick Soon-Shiong,  says that social media is the cancer of our times and a form of metastasis of news. He particularly slammed Facebook, calling it “fake news.” He also wants to embed more technology into the news business in the form of cloud computing, AI, and predictive modeling in order to make the news product more compelling to the consumer.

    He also believes fervently that the subscription model must replace the free model prevalent on the internet today in order to make the news industry sustainable.

    Patrick Soon-Shiong made his case for the news business on CNBC this afternoon:

    It’s Essential that News Media is Sustainable

    I don’t see the newspaper industry as philanthropic at all. I think it’s essential that it’s sustainable and not as a newspaper but as a news media. I see this as journalism doing incredibly important stories, and that’s basically storytelling. How we publish these stories, whether it be a podcast, digital, video, over-the-top, or newspaper is where we need to go as an industry.

    We need to take cloud computing, artificial intelligence, predictive modeling to create something of value to you, not from an advertising model but as an educational inspirational model. The opportunity to inspire, educate and inform is where I see our newspaper going. It has to be a subscription model by the way.

    Social Media is the Cancer of Our Times

    I think it’s either an unintended or an intended consequence of advertising. If you look at Facebook, it’s an advertising facing organization which then really cannot differentiate from the so-called fake news, opinion news, and real news.

    This short attention span that we’re now creating within this millennium is actually very dangerous. It’s an unintended consequence of social media and it’s a cancer of our times and social media is the form of metastasis of news. We need to change that paradigm.

  • Microsoft, Mastercard Teamup Enables Small Businesses to Trade Globally

    Microsoft, Mastercard Teamup Enables Small Businesses to Trade Globally

    Mastercard and Microsoft recently announced their latest collaboration—the Mastercard Track. The program is described as a distinct trade platform that can be used worldwide. It will reportedly simplify and automate payments between companies.

    Payments are supposed to be a fundamental and essential aspect of any business transaction. However, a lot of companies struggle with late payments. These delays are caused by inefficiency most of the time and result in profit loss and the erosion of trust between the buyer and supplier.

    Mastercard and Microsoft believe Track has the potential to solve this dilemma. The Track platform can automate and streamline procurement-to-payment procedures. Instead of having payments and invoices in separate systems, all data will be placed in one location. This will give companies improved visibility into their cash flow and help them to comply and conduct payments in a more efficient manner.

    Mastercard said that Track builds on and augments the company’s range of innovation and B2B assets, including its card and account-to-account payment solutions, data analytics, payment gateway, and fraud management services. Meanwhile, Microsoft will provide its very own Azure cloud system to run the Track platform, thereby giving it the protection of the company’s strict security and compliance standards.

    Mastercard Track will also be supported by a partnership comprised of nine procure-to-pay solutions companies and B2B networks – Basware, BirchStreet, Coupa, Ivalua, Jaggaer, Liaison Technologies, the Infor GT Nexus Commerce Network, Tradeshift, and the Tungsten Network.

    Michael Froman, Mastercard’s vice chairman and head of strategic growth, said that Mastercard Track is a tool that will “help reduce frictions in the global trading system and promote increased exports—especially by small and medium-sized businesses.”

    At the moment, companies have to navigate the various mechanisms that are currently in place for payments. Aside from that challenge, brands also have to deal with the lack of transparency and copious paper trail.

    Mastercard and Microsoft say that all account-based, bank transfer, or card-based payment systems will be connected on Track. The platform will also integrate invoice information and purchase order and will streamline the back-office.

    The platform is ideal for small to medium-sized businesses, especially ones involved in global exports. However, Track will also offer banks, B2B, insurance, and technology companies a business opportunity by providing value-added services. For instance, banks can give supply chain and trade loans on Track while technology brands can offer better data analytics.

    [Featured image via Pixabay]

  • Amazon Emerges as a Major Player in Digital Advertising

    Amazon Emerges as a Major Player in Digital Advertising

    “Amazon” and “ads” are two words that are not usually associated with each other. However, that will soon change as Amazon appears set to become the third largest online advertising platform in the United States.

    According to eMarketer, there’s a strong possibility that the retail giant will surpass Microsoft and Verizon in terms of online advertising this year. The company estimated that Amazon’s advertising arm will bring in around $4.6 billion in profits in 2018. This gives Amazon a 4.1 percent slice of the advertising pie. What’s more, $1.6 billion of that revenue would likely come from mobile ads, giving Jeff Bezos’ company a 2.1 percent share of America’s mobile ad market.

    Alphabet (Google) and Facebook remain the market leaders, controlling 37.1% and 20.6% respectively. However, eMarketer theorizes that Amazon’s share will reach 7 percent by 2020, while Google and Facebook’s combined hold on the market will drop to 55.9 percent.

    [Graphic via Nasdaq]

    The news of Amazon’s emerging ad dominance is unexpected as the company is more known for making money from its online store and cloud services. Meanwhile, consumers who use the company primarily for shopping or watching videos rarely notice the ads that permeate Amazon’s services. However, these ad products have been steadily growing. It includes paid ads on Amazon’s own marketplace while also facilitating advertisements on other sites.

    Most people are unaware of this but the retail giant’s advertising arm used to have three key divisions—the Amazon Media Group (AMG), Amazon Advertising Platform (AAP), and Amazon Marketing Services (AMS). In a bid to make it easier for brands to buy ads, the three groups were merged into a single unit early this month and renamed “Amazon Advertising.”

    Amazon’s SVP of Advertising Paul Kotas explained in a blog post that merging the three groups was another step in the company’s goal of “providing advertising solutions that are simple and intuitive for the hundreds of thousands of advertisers who use our products to help grow their business.”

    The company is also looking into ways to push its advertising further. For instance, Amazon has rolled out a new service dubbed “Scout.” The feature offers suggestions for visually-inclined products, like shoes and furnishings, based on the customer’s preferences. A spokesperson for the company explained that Scout is a novel way of shopping. It provides customers the chance to browse thousands of items and refine their selections based on the products’ visual characteristics.

    The changes that Amazon has made clearly shows that the company is setting its sights on advertising. It further reinforces CFO Brian Olsavsky’s claims during July’s investors’ call that Amazon’s advertising arm is a rising star and will soon have an impact on the business’ overall gross revenue.

  • The Case for Amazon Hitting $2 Trillion First

    The Case for Amazon Hitting $2 Trillion First

    Keith Fitz-Gerald, an experienced trader, and analyst for Money Map Press was asked by Stuart Varney on Fox Business today to explain his rationale for Amazon hitting a $2 trillion valuation before Apple:

    “There are four key businesses here, artificial intelligence, entering your home, big data, and distribution into advertising. That’s the four business segments that are going to move Amazon faster and farther than Apple, which is now under Tim Cook’s leadership falling behind in the home market.

    I’m still working on the math, it varies with each earning season, but I’m saying 24 months, possibly less.”

    “Unbelievably, many investors still think of Amazon as a “shopping” company,” noted Fitz-Gerald in his investor report. “I get it – my family and I seem to single-handedly support the company’s shopping revenues. And, like many people, I’m saying that only halfway in jest! But Team Bezos is much more than that, and the fact that most investors can’t see beyond the packing tape is a huge opportunity for you to jump in… before the markets recognize the profit potential we’re about to discuss.”

    He says that many analysts believe that the single biggest driver will be Amazon Web Services (AWS), but he believes the real value creator is artificial intelligence (AI) led by Alexa:

    “Voice-driven technology is going to be an $18 billion market in under five years, according to Markets and Markets, but I think that is far too conservative. $30 billion is probably far more likely. That’s because Alexa learns from everything it hears.”

    Fitz-Gerald added: “Imagine telling Alexa… “I want a doctor’s appointment on Tuesday morning and my test results slated for midday. Oh… and I’d like my medicine delivered to my home that afternoon – all at 10% or less of what I’ve paid in the past.””

    Read his full investor report on how Amazon will hit a $2 trillion market cap first here.

  • CEO’s of Adobe, Microsoft, SAP Announce the Launch of the Open Data Initiative

    CEO’s of Adobe, Microsoft, SAP Announce the Launch of the Open Data Initiative

    CEO’s of Adobe, Microsoft, SAP announced the launch of the Open Data Initiative, a new data repository in the cloud dedicated to facilitating collaboration across the global research community. This is an initiative squarely aimed at Facebook and Google, in effect challenging them to provide all customer related data back to the customer. Here is Microsoft’s portal to the Open Data Initiative.

    Below are key highlights from a discussion the three tech CEO’s had on CNBC…

    Satya Nadella, CEO, Microsoft:

    The insight that all three of us had based on the work we’re doing with many customers, such as Coca-Cola, Unilever, and Walmart, today as customers they’re all excited about this open data initiative. It’s their real insight that led us to do this, how do we work to put them in control of their own customer data, because that’s the real currency.

    Any brand out there cares deeply about the continuous improvement of their own customer data understanding. The three of us coming together is going to be central to them feeling in control of their own customer data.

    Bill McDermott, CEO, SAP:

    There isn’t a CEO in the world that does not want to have a single view of their customer and they have to connect their demand chain to their supply chain and do so in real time. If you think about the consumer whose social, mobile, they’re geospatial, they’re always on the fly, they’re going to shop different companies in all channels, direct to consumer and retail, and you have to make sure that connection point with that consumer is really intimate.

    These companies need to be intelligent enterprises because more and more AI and predictive analytics is going to rule how you engage with that customer. Ultimately, what you have to do is fulfill, so now you’re going to see the demand and the supply chain completely integrated and that data will be shared evenly among our companies so the customer is the major benefactor of the Open Data Initiative we announced today.

    Shantanu Narayen, CEO, Adobe:

    All three of us shared this vision of how do we enable enterprises to put customers at the front of the digital journey. Getting behavioral data, getting transactional data, and getting customer engagement to be the front and center is the most important thing that enterprises can do so that digital is actually a tailwind rather than a headwind.

    What Marketo does is add to our offerings in the Experience Cloud of being able to create this unified profile for all customers. The thing that every customer will tell you today is that they want an engaging experience with whoever they’re doing business with, whether it’s financial services, automotive, or retail. Adobe focused a lot more on B2C customers, but the same requirements that were true for B2C customers are now true for B2B customers and that’s what Marketo provides.

    Satya Nadella, CEO, Microsoft:

    The name itself should tell everything, it’s an open data initiative. It’s about really unlocking the data that is our customers’ data about their own customers. I think what is foundational here is trust. In other words, ultimately customers will decide.

    Also, compliance with their own customers trust in them is also going to be very key, because if you think about it one of the top considerations for anything around customer data is privacy and regulation around privacy. So the most important thing here would be for each vendor to think through how they participate here and ensure that there is more trust in the entirety of the value chain, starting with the end consumer to the brand and to us as software vendors or tech companies.

    I think the real challenge is going to be for some who may want to join but their business model is probably not going to allow them to join. I think overall though what we have all anchored on is if we can create an architecture and an incentive system that turns the tide to put customers in control of their own customer data I think the overall economy will be better off.

  • Twilio’s Unique Platform Business Model Drives It’s Success

    Twilio’s Unique Platform Business Model Drives It’s Success

    Twilio’s success is driven by its unique platform business model where its products are provided to developers based on usage. Companies only pay for what they use with no contracts required and they billed based on whatever is the fundamental value driver of the product they are using.

    Recently, Jeff Lawson, Twilio CEO, discussed their innovative products and business strategy on CNBC’s “Squawk on the Street“:

    Why is Twilio a Successful Business?

    It’s really the continued success of our platform business model. Platform developers can use Twilio to solve a wide variety of problems inside of their companies and how their company communicates with their customers. Whether that’s voice phone calls in a contact center or that’s text message alerts, even real-time video communications and things like Facebook Messenger, you can incorporate all those things using Twilio.

    It’s the broad breadth of things that developers can build on top of Twilio coupled with our usage-based pricing model which really aligns our success with our customers’ success, so we get paid when our customers use Twilio more and build things on top of our platform. The combination of the breadth of things you can build as well as the alignment we have with their customers, that’s the platform business model that has worked so well.

    Every Company is Getting Reinvented Because of the Power of Software

    Uber is one of our largest customers, they represent about four percent of our revenue today, but we have many different companies on our platform. Whether it’s Lyft and other rideshare companies as well as everything from Silicon Valley tech companies to Fortune 500 companies including major banks and insurance companies.

    In fact, one of the customers we noted at our Q2 call was U-Haul which is not a company you typically think of as a software company. Every company is getting reinvented because of the power of software. Every company realizes that they too are a digital company now and if your business is U-Haul you have to reinvent yourself with software and when they do the software developers who work at those companies bring Twilio in.

    Customer Engagement is the Lifeblood of Every Company

    I think that every company regardless of what they do is always investing in their own growth and their customer relationships. So when you think about customer engagement, how a company talks to its customers, that’s a source of growth for every company. That is the lifeblood of every single company.

    How you engage with your customers and what they think of those interactions, that is the brand perception and that is the reality of the product delivery.  

    The Platform Business Model is a Unique Business

    We think that our business model, the platform business model, is a unique business. It’s not software as a service, it’s got a lot of different attributes, it’s not traditional on-premise software, it is a new kind of software company. Because of that usage-based model we can sustain a nice expansion rate and nice growth rate.

    How Are the Services Measured?

    Things like phone calls and text messages and video sessions are measured in gigabytes and our new contact center Twilio Flex is measured in the amount of time the agents spend using it. Each one of our products we break down into the fundamental value driver for our customers and we bill for that and what that does is it aligns our customers’ success with our success very nicely.

  • Marcus Lemonis and Camping World Targeting the Millennial

    Marcus Lemonis and Camping World Targeting the Millennial

    One of the most fascinating entrepreneurs and CEO’s in the world is Marcus Lemonis, star of CNBC’s The Profit and CEO of Camping World, Good Sam Enterprises, and Gander Outdoors. He recently sat down with Jim Cramer of Mad Money to discuss his strategy for growing Camping World Holdings, Inc. (CWH) by focusing on high margin subscription-based products targeted to the Millennial customer with plenty of disposable income.

    Marcus Lemonis Talks to Jim Cramer:

    At the end of the day, we are an RV company first and foremost and our number-one asset is our customers that sit in our Good Sam file. That’s the most important part of our business. In order to grow that file and to grow the annuity part of our business, which is good Sam, we have to really grow our platform.

    We’re able to make dealership acquisitions anywhere between one and four times EBITDA. That’s trailing EBITDA, not adjusted like public companies like to do, but the real number. We provide a good exit strategy for a lot of dealers. As I looked at where this company needed to go, doubling the size of the dealership footprint was really the only option and Gander Outdoors was really the spark that really takes us there.

    The Good Sam file and the Good Sam Club are an important part of our business with over a hundred million dollars of our EBITDA coming from the Good Sam business itself. Essentially, it’s people that want to save money on campgrounds, camping, all hunting, fishing, camping equipment, but they also want to buy roadside assistance which is similar to Triple A, but for RVers. They want to get a warranty, and they want to have a credit card and enjoy all the benefits. We sell all of those affinity products. So as people walk in the front door those are fresh sets of eyes and fresh sets of people to be able to sell the products and services to.

    What we’re ultimately trying to do is find the Millennial, the Millennial who doesn’t want to go in their father’s Oldsmobile or their father’s motorhome. They want to go in a smaller unit, a lighter unit, and they want to pull it with their Prius, and we’ve made a concerted effort through Gander to enter that market.

  • Jamie Siminoff of Ring – From a SharkTank Reject to an Amazon Success

    Jamie Siminoff of Ring – From a SharkTank Reject to an Amazon Success

    You’ve all heard the story of Jamie Siminoff, creator of Doorbot, later renamed Ring, who was famously rejected on national TV on SharkTank, but then went on to create a wildly successful business. Earlier this year Amazon paid a reported $1 billion in cash for the business.

    Recently, Jamie Siminoff, Founder and Chief Inventor of Ring, had a discussion with John Biggs at TechCrunch Disrupt SF 2018.

    Here are the key highlights of how Jamie and his small startup hit it big:

    From a SharkTank Reject to an Amazon Success

    If you can get acquired by Amazon your about as lucky as you get because they really do let you just keep going.  Five years ago I was very much on the other side. I was on Shark Tank looking for money trying to get an investment.  I did not get one on the show and now it’s funny because everyone says to me, well you were so smart not to take that money. I’m like no, I was driving back from there to my garage almost in tears broke. I actually needed the money.

    I think Shark Tank has been a great show for families. Families watch the show, people watch it with their kids, it’s aspirational, and it shows that people can do things. It obviously has to be entertaining because it is TV so you need people to watch it but I think it has been good for overall for startups in general.

    For Ring, we were Doorbot at the time, it gave us awareness and credibility that we never would have had that sort of jumped us up. It was a great platform for us to launch off of and we really used it. We turned out to be the largest company ever to be on SharkTank and it was it was a great experience.

    We Were the Consummate Hustlers

    We were the consummate hustlers. Looking back at those days, you work the booth at TC, you go to CES, you just grind. You wear your shirt everywhere, you just grind and embarrass yourself. I think that level of a start-up at the beginning you almost have no shame. You have to just put yourself out there, get the stories out there, and get the name out there. You have to focus on the business, but you have to hustle.

    I always get asked by people that have a startup, what worked? What they really want is the one thing. They want me to tell them we did X, and then I can just go do X and be successful. The truth is it’s like 5,000 things that you have to do to make a successful company. The first thing though is you have to have a reason to be a business.

    A Company Should Start With a Core

    At Amazon, they call it thinking from the customer. That’s starting with the customer and working backward. We called our customer’s neighbors, so we always start with the neighbors and it’s always around a mission to reduce crime in neighborhoods. As a company you should start with some core that says why am I hustling, why am I trying to track you down at CES to get you to write a freaking article? You have to have that reason.

    There are a thousand things you have to do and wearing the shirt yeah, it’s all these little things. Wearing the Ring shirt, for example, creates a conversation on an airplane with someone who asks a question and then that leads to something. My family’s laughed at me because I literally wore the Ring t-shirt almost non-stop for seven years!

    Why Did I Sell Ring to Amazon?

    Why Did I sell Ring to Amazon? You hear all this stuff like this did you sell out? The company was started with a mission to reduce crime in neighborhoods.  From day one that’s been our mission. We’re going to reduce crime in neighborhoods by delivering effective and affordable products and services. We were working with Amazon on some integrations and other things and when Amazon came to us they had bought into the idea that the mission to reduce crime in neighborhoods made sense for Amazon on a strategic level. For Ring that became the best possible outcome, the fastest and most scalable with the best foundation. Amazon has enabled us to accelerate our business.

    The Truth of Business is Luck

    It’s cool when you get inside Amazon. They really do start, and this is from Jeff down, with customer backwards and infinite truths. Are people going to want to have a safer home and neighborhood in 50 or 100 years? Yes. They look at these like bigger truths around things. When they’re making these big decisions it’s really about an infinite truth of something that can make a customer’s journey or life better.

    The truth of business is luck, luck, luck, luck, luck. I worked hard, I focused, I did everything right, but the amount of luck that happened along the way,  getting on Shark Tank and having the right investors come when they did, having a house where if the freaking doorbell had reached to the garage I’d probably be here trying to pitch some other hardware thing in the roundup group.  

    Especially at this scale, to build a business to the size that we have so far and to have that success I think luck is a huge part of it. Timing is not in your control, you don’t know what’s gonna happen next year or the year after and all of these things went our way. You know, luck.

  • How SnackNation’s Predictive Analytic Engine Fuels Their Success

    How SnackNation’s Predictive Analytic Engine Fuels Their Success

    Recently, SnackNation secured $12 million in Series B funding and is on a roll with their digitally integrated healthy snack delivery business. SnackNation may be focusing on snack delivery now but it’s really building a consumer insights and consumer products delivery platform that can plug in anything.

    Will SnackNation become the next big online thing in online retail? After all, Amazon started with books and look at them now.

    SnackNation CEO and Co-founder Sean Kelly recently talked about how SnackNation is using consumer data as a cornerstone of its business model:

    We are the authority when it comes to discovering emerging and innovative snack food brands. More specifically, we are a tech-enabled snack delivery service that delivers curations to thousands of companies and homes across the country. We go out and find the best emerging and innovative brands that are also better for you and clean and delicious and bring them direct to people.

    In today’s world, it’s so important to be able to innovate and iterate, especially if you are a big CPG company. What we do is go direct to the consumer and have a direct relationship with them at their most engaged moments. We collect consumer insights and data that we feed back to the brands so they can better understand their customer and therefore improve their products.

    We also use all of that data to determine what emerging brands are going to win tomorrow. We have a predictive analytics engine that gives us a leg up. We sell that data back to brands and there are also ways to work with industry leaders and big CPGs to deliver some of that information to them.

    Although we started out focusing on enterprise sales, we don’t look at B2B and B2C as being different. It’s all about where the consumer is. For us, why did we start at the office, it’s because it’s where the younger generation spends the most time.

    Being able to collect these insights and having a forward-looking view in terms of what’s going to work and what’s not is very important.

    We are actually setting this up as a platform where we can deliver any consumer products through this. Even though our focus is on snacks we are already starting to plug health and beauty items through our consumer insights funnel.

  • Oracle’s Autonomous Database Cloud is a Huge Technological Advantage

    Oracle’s Autonomous Database Cloud is a Huge Technological Advantage

    The release by Oracle of its AI-powered Autonomous Database Cloud earlier this year and just adding Transactional Processing to its abilities last week is huge for Oracle and its customers who need this cutting edge technology. Oracle considers the Autonomous Cloud a generational release because it literally is the first database in the world that can build itself and update itself without human help.

    Oracle CEO Mark Hurd recently spoke to CNBC’s “Squawk Alley” about it:

    Oracle Autonomous Database Is a Generational Release

    Probably our most important generational database release is the Autonomous Database. This is where the database is integrated with AI and machine learning that really just self-patches and self-tunes. It actually creates a position where your security issues go down, you get higher uptime, and you pay less money. We really never in our history had a database release that had as many positive business outcomes as opposed to just technology.

    This is a place where you get better performance, more uptime and you will eliminate tons of labor. Most of our customers, for example, I know this has become a bigger issue with C-Suites now where the amount of time it actually takes to patch software can be months for most of our customers.

    This release of the Autonomous Database literally eliminates that need to patch. This is a generational release for us as we bring it to market.

    Oracle BYOL Explained

    Let me explain BYOL (Bring Your Own License). That is simply where you can buy a license and you can use it on-premise or in the cloud, so it’s basically a currency that you can move across platforms. We’re one of the very few companies that allow you to do that, so we believe it’s an advantage for our customers and what they want and that’s why we utilize that strategy.

    Second,  I think you need to divide up what’s happening in the applications market versus what’s happening in the infrastructure and platform market. In the applications market, there’s an opportunity now for most companies to modernize all of their systems.

    ERP is Moving to the Cloud

    Let’s start with the back office systems, the biggest category of back-office applications is called ERP. ERP is basically companies financial supply chain manufacturing systems, etc.

    All of those are really going to get replaced over the next several years as companies move to the cloud where there are much more innovation and much more work done by somebody else as opposed to by the customer. We’re in the very early innings of that market.

    Oracles Technology is a Competitor Differentiator 

    We have a significant lead technology wise in ERP and we went through a ton of customer wins in the quarter. That market is going to over the next several years be very exciting. The technology infrastructure market, that’s as you move further up the stack, meaning from compute and storage to database to other tools and systems, Oracle gets more differentiated from competition the further you move up the stack.

    Just replacing somebody’s computer with somebody’s infrastructure, while that’s interesting, the more technology you have and the more IP differentiates Oracle. Oracle has always been differentiated by doing the hardest jobs the best, by investing in R&D and investing in innovation.

    Oracle Autonomous Database for Transactional Processing Announced

    Larry Ellison, Oracle Co-Founder, CTO, and Executive Chairman, made the announcement:

    We’re announcing the immediate availability of the Oracle Autonomous Database transactional processing. Now the machine learning based technology not only can optimize itself for queries for database warehouses and Data Marts, but it also optimizes itself for transactions.

    It can run batch programs, reporting, Internet of Things, simple transactions, complex transactions, and mixed workloads. Between these two systems, the system that is optimized for data warehousing and the system that’s optimized for transaction processing, the Oracle Autonomous Database now handles all of your workloads. All of them.

    Larry Ellison also recently gave his take on the Autonomous Database Cloud:

    The cool thing about the Autonomous Database Cloud is because it is autonomous the database is fully automated.  Human Beings don’t create the database, the database creates itself. Human Beings don’t tune the database, the database tunes itself.

  • Clorox: Digital is About Changing the Way We Do Business

    Clorox: Digital is About Changing the Way We Do Business

    When you think of Clorox you probably think about bleach and consumer products. However, from a business operations and marketing perspective, you might be surprised to discover that Colox itself is undergoing a multi-year transformation with the goal of becoming a digital company.

    Recently, at Salesforce Live, Doug Milliken, VP Digital Experience Transformation at The Clorox Company, described their digital journey:

    We were doing digital, but we have to go to being digital. In the past, we’ve been doing digital marketing or doing e-commerce and we realized we really need to be digital, meaning the company needs to be organized around and operating in a digital way end-to-end.

    Digital is About Changing the Way We Do Business

    That led us to realize is that for us digital is not just a channel and a technology, digital fundamentally is about changing the way that we do business. Digital for us is about changing the way that every function in the company operates, leveraging the possibilities of digital technology.

    We have efforts across the whole value chain of the company, how we do R&D, how we do product supply, how we do marketing and sales, and a program that’s funded and built into our three-year long-range plan across every sector of the company to digitize and change how we work.

    Goal of Digitizing is to Improve the Consumer Experience

    We then decided we have to have a North Star, why are we doing that and to what end are we digitizing the company? For us, that end is to improve the consumer experience. Digital transformation is changing how we work across the whole company in service of improving our consumers’ experience.

    What this is about at the core is about becoming more radically consumer-centric and human-centered. Companies like Clorox,  most CPG companies, we are very consumer oriented, but we’ve typically been very brand-centric. We’re very organized and our thinking is very much around our brands.

    What is the Goal of the Consumer?

    Our brands are critical and they’re the unit of value for Clorox, but we’re trying to put the consumer much more at the center. Who is the exact consumer or the persona who we’re designing around and what is her goal?

    If we take one of our brands, Renew Life, it’s a probiotic, that consumers goal is not to buy Renew Life, her goal might be to enhance her wellness. What is the consumer’s goal, what is her journey to that goal and what are the pain points or difficulties along those journeys that we can help with?

    Becoming a Helpful Part of the Consumer Journey

    We’re trying to shift our mindset from how do we sell our brand or product to how can our brand help the consumer along this journey. That includes products but it could include other things too. It’s about their whole end-to-end experience and moving from being product and brand centered thinking to think about an end-to-end experience along a journey to a goal. That’s what we’re trying to accomplish.

    I think in the next three to five years this is going to really come to fruition. What we’re going to be able to do for our consumer, to move them along their journey, to enable them to reach their goal and our ability to help them and our ability to grow our business while we’re helping them do that is really exciting.

  • Adobe Creating an Industry Around Digital Engagement and Customer Experience Management

    Adobe Creating an Industry Around Digital Engagement and Customer Experience Management

    Shantanu Narayen, Adobe CEO, recently discussed on CNBC about how Adobe is working to actually create a brand new industry focused on digital engagement and customer experience management. I thought this was interesting in that this makes Adobe a CRM company competing with the likes of Salesforce, rather than what most people think when they hear the name Adobe, a company providing creative, marketing and document solutions.

    Much of this new focus will rely on their AI solution, platform Adobe Sensei, which you can read more about here.

    Narayen’s expands on Adobe’s intent to be a CRM leader in the excerpts below:

    We really believe that what’s happening is that every enterprise wants to in real time engage with customers. When you think about what CRM used to be, CRM was more about a record that was in a relational database. That is not as important as what you do with that customer information and how you make action out of it.

    That’s where the Adobe and Microsoft partnership is so valuable because together with what they have done with Azure and the ability for people to process the data at the pace at which they want and what Adobe has done. We enable people to attract customers to your platform. We allow you to engage it. We think we’re actually creating a brand new category and industry which is all about digital engagement and customer experience management, far more critical than what a record might store.

    We continue to think that content and data and how content and data come together is really where this magic happens. You’ve walked into a retail store you’re accessing an application on a mobile device and it’s all about what’s the right content that’s being delivered based on the intelligence.

    I think it’s a dramatically different approach that Adobe has pioneered and I think it’s companies like Adobe and Microsoft and SAP who actually see this vision for what’s happening in the world.

  • Could Your Small Business Benefit from Using Chatbots?

    Could Your Small Business Benefit from Using Chatbots?

    The mindset of the modern consumer is one of urgency and convenience. Businesses that reply to queries and concerns quickly and without hassle generally earn more customer loyalty and have better brand reputation. And thanks to chatbots, more companies can now be online 24/7 to meet their customer’s needs.

    Chatbot is an amalgamation of the words “chat” and “robot.” Basically, a chatbot is a computer that can have a written conversation with a customer, either online or via SMS. They are used primarily for customer service, marketing, and sales. Most large enterprises have already incorporated chatbot technology into their daily operations, and a growing number of mid-sized and small businesses are following suit. But could your business benefit from using a chatbot? Here’s what you should consider:

    1. You’re Having Difficulty Providing 24/7 Customer Service

    Many businesses want to be able to provide their customers with support 24/7, but are unable to do so because of cost and human limitations. Chatbots go around these constraints. They can remain running all throughout the year. This means there will always be someone to interact with your customers regardless of the time of day.

    2. You Need New Ways to Interact With Customers

    It seems that there’s an app for everything these days. However, people can only devote their time to a limited number of apps, particularly messaging platforms. Instead of rolling out a company app or relaunching your website, you can deploy your chatbot on a messaging site. These robots can be programmed to provide personal and meaningful conversations with customers. What’s more, they can present your brand in much the same way that a real person would.

    The Sydney Opera House’s “Seal Bot” on Facebook Messenger is great at engaging people. It shares facts about the venue’s history as well as information about any upcoming performances or events.

    Image result for sydney opera house seal bot

    Meanwhile, customers can have a dynamic discussion with Nike’s Messenger bot as they customize their sneakers based on their preferred color scheme or while checking out the shop’s different shoe styles.

    Image result for nike messenger bot

    3. Efficiency is a Company Goal

    Chatbots can help make your business run more efficiently. You can automate tedious tasks and free up your employees for more crucial or creative ones. You can also program your chatbot to handle your employees’ human resource concerns, like sick leaves or questions regarding attendance. Bots can even be integrated into programs like Slack. They can assist in managing team projects, streamlining conversations and keeping tasks organized.

    4. Cart Abandonment is Becoming a Concern

    Abandoned carts are a problem a lot of online retailers are familiar with. There are instances when a customer is finalizing their purchase, gets interrupted and is forced to abandon the transaction. Chatbots can cut down on these missed purchases by giving customers gentle reminders. They can even be programmed to suggest other products that could interest the buyer.

    Image result for chatbot cart abandonment

    5. You Want to Build a Better Relationship With Millenials

    Millennials have different expectations when it comes to customer service.  Research revealed that the majority of millennial consumers prefer to resolve their customer service issues by themselves, and 69 percent feel good when a problem is solved without having to talk to a customer service representative. They prefer self-service solutions that chatbots can provide. If your company caters to this demographic or you want to target them, then automating your customer support is a good move.

    Chatbots can provide you with two key benefits—market presence and good customer service. These two things can make a big difference if you’re the owner of a small or medium-sized business. But make sure you first take the time to come up with a strategy for using a chatbot efficiently and in a way that also communicates your brand’s vision and personality.

    [Featured image via Pixabay]

  • Inside the Mind of Jeff Bezos as He Reveals the Secret Sauce of Amazon

    Inside the Mind of Jeff Bezos as He Reveals the Secret Sauce of Amazon

    Amazon Founder and CEO Jeff Bezos recently talked about why Amazon is so successful, what he looks for when buying companies and how the business miracle of AWS came about.

    Here are some key excerpts from his Q&A at The Economic Club Of Washington:

    The secret sauce of Amazon, the number one thing that has made us successful by far is our obsessive-compulsive focus on the customer, as opposed to obsession over the competitor. I talk so often to other CEOs and also founders and entrepreneurs, and I can tell that even though they’re talking about customers they’re really focusing on competitors. It is huge for any company to stay focused on your customer instead of your competitors.

    On Buying Companies: Is the Founder a Missionary or a Mercenary?

    Amazon buys a lot of companies, usually, there much smaller than Whole Foods, but we buy a bunch of companies every year. When I meet with the entrepreneur who founded the company,  I’m always trying to figure out one thing first and foremost, is that person a missionary or a mercenary? The mercenaries are trying to flip their stock. The missionaries love their product or their service and love their customer and are trying to build a great service.

    The great paradox here is that it’s usually the missionaries who make more money!

    You can tell really quickly just by talking to people whether they are a missionary. When I met John Mackay who’s the founder of Whole Foods, it’s a missionary company and he’s a missionary guy.  What we’re able to do is take some of our resources, some of our technological know-how and expand the Whole Foods mission.

    They have a great mission which is to bring organic nourishing food to everybody, but we have a lot to bring to the table in terms of resources, but also in terms of operational excellence and technology know-how.

    How AWS Reinvented the Way Companies buy Computation

    We started AWS (Amazon Web Services) about 15 years ago and worked on it behind the scenes for a long time before we finally launched it. Since then, it has become a very large company that has completely reinvented the way companies buy computation.

    Traditionally,  if you’re a company and you needed computation, you would build a data center. You’d fill that data center with servers, you’d have to upgrade the operating systems of those servers,  keep everything running and so on. None of that added any value to what the business was doing. It was kind of the price of admission. It was undifferentiated heavy lifting.

    What we saw at Amazon while we were building data centers for ourselves is that there was a tremendous waste of effort between our applications engineers and our networking engineers, the ones who run the data centers. They were having to have lots of meetings and planning fleet sizes and all these non-value-added tasks.

    We said what we can do is develop a set of hardened API’s  that allow these two groups, the applications engineers and the networking engineers, to have roadmap meetings instead of these fine-grained meetings, and then we’ll expose those API’s to the applications engineers and they can just take as much compute resources as they want. As soon as we hatched that plan it became immediately obvious to us that every company in the world was gonna want this.

    Then A Business Miracle Happened

    Then a business miracle happened. This never happens. This is like the greatest piece of business luck in the history of business.  We faced no like-minded competition for seven years. It’s unbelievable.

    When I launched Amazon.com in 1995, Barnes & Noble launched Barnesandnoble.com in 1997, in just two years. That’s very typical if you invent something new. When we launched Kindle, Barnes and Noble launched Nook two years later. After we launched Ecco, Google launched Google Home two years later.

    When you’re a pioneer if you’re lucky you get a two-year head start. Nobody gets a seven-year head start! That was incredible.

    I think it was because of a whole confluence of things. The big established enterprise software companies did not see Amazon as a credible enterprise software company and so we had this long runway to build this incredible little feature-rich service. It’s just so far ahead of all the other products and services available to do this work today and the team doesn’t let up.

  • 4 Inbound Marketing Tactics to Use for Your B2B Company

    4 Inbound Marketing Tactics to Use for Your B2B Company

    According to a new study by the Pew Research Center, eight out of 10 Americans now shop online. This means that the traditional ways of marketing—cold calls, trade shows, TV, radio—are not as effective as they used to be. In fact, more companies are now turning to inbound marketing to generate leads and close deals.

    To stay ahead of your competition, it’s now essential to have a good inbound marketing strategy in place. Here are four B2B marketing tactics you should be using right now:

    1. Create and Curate

    Useful and well-written content is a powerful weapon in B2B marketing. Posting long-format articles and discussing issues more deeply attracts more visits to your website and leads to higher conversions. A study by Moz showed a distinct correlation between social shares and content length. 

     

    According to the data, readers love this type of content and are more likely to share it.

    You should also post articles to your blog more frequently. A Hubspot report showed that businesses that blogged 10 or more times a month enjoyed three times more traffic than those that blog only once a month.

    And, you can continue to reap the benefits of your old blog posts for years to come. Assuming that they’re good, consider repurposing older posts to generate more organic traffic by sending the content to your email list or posting them on social media.

    However, creating good content takes time and effort, and sometimes a company might not have enough manpower to handle this. No need to worry, though, as curating content will work just fine. It’s a strategy that some marketers have used very effectively. Content curation involves sourcing content that is already on the web and organizing it in a meaningful way for your audience. Curating helps add new content to your site, builds value, converts readers, and helps generate traffic.

    2. Collaborate With People Who Matter

    Connecting and collaborating with experts and influencers creates more opportunities for your brand to be shared with a bigger market. 

    Look for authorities or influencers in your niche and reach out to them. Discuss how working together will benefit all parties involved. Invite an influencer to host a podcast, write a guest blog or take over your social media page for a day. This will add more quality content to your site and boost awareness of your brand.

    3. Get Video Ready

    Scientific research shows that most people process the information they see 60,000 times faster than what they read. So it’s a good idea to incorporate videos and eye-catching graphics in your marketing strategy.

    In 2017, video became the most popular type of content on social media, and the demand for it will only continue to rise among consumers. Because of this, more companies are using the medium to showcase their product, disseminate information, teach consumers, and reach prospective clients. 

    Image result for video most popular type of content on social media 2017

    Don’t forget other visuals like infographics and slides. Infographics have become popular over the last few years because they are an effective way of communicating a lot of data within a short time. These visuals are also easy to share and can be used to recycle your content and make them fresh and engaging.

    4. Improve Your Site’s Speed and Load Time

    A fast website is crucial for any business. People prefer sites that have a quick loading time. Studies have shown that consumers are only willing to wait three seconds for a page to load. Any slower and they are highly likely to abandon the site and search elsewhere. Plus, Google also takes into account the site’s speed in their rankings. So if you want to keep your visitors and rank high in search engines, make sure your website is optimized for speed.

    Consumers today know what they want and how to get it. If you want to capture their attention, you have to step up your inbound marketing game. Adding visuals and writing longer posts are simple tactics but they can go a long way in generating leads and traffic.

    [Featured image via Pixabay]

  • Google Chrome 69 Makes Your Passwords Harder to Hack

    Google Chrome 69 Makes Your Passwords Harder to Hack

    Google Chrome is a decade old and the company celebrated with a new look, a revamped password manager, a slew of develop-centric changes, plenty of security enhancements, and an improved omnibox.

    Google rolled out Chrome 69 just in time for its 10th anniversary on September 2, bringing with it an updated interface that’s more aligned to the Material Design principles that powers other Google products. A recent post on Google’s company blog described the latest Chrome update as having “more rounded shapes, new icons, and a new color palette.” It also emphasized how menus, prompts, and the address bar were simplified to enhance the user’s browsing time.

    One change that caught users’ attention was the browser’s password manager. While Chrome had previously offered to store user passwords, the new password manager will now be able to create strong passwords when required.

    Let’s say you’re about to join a new site, Chrome can generate a new password for you. Simply click the “Use suggested password” button. The created password will include the conventional requirements of a capital letter, small letter, and a number. It can even include a symbol if necessary.

    Image courtesy of Google

    [Gif via Google]

    You don’t even have to remember new passwords as Chrome will automatically save it to your vault. You will be able to check all your saved passwords on Chrome’s main toolbar and even have the option to export passwords as a CSV file.

    There are several advantages to the enhancements that Google made to its password manager. First, the passwords generated are strong and will not be vulnerable to hacking. Next, the user not knowing their new password provides them some security from phishing attacks. After all, how can you reveal your password when you don’t know what it is or can’t remember it?

    Chrome 69 promises improved auto filling capacities as well. The feature should work on more websites and make it easier for the tool to manage details like addresses, personal details, contact information, and payment options.

    Some sectors have pointed out that Chrome’s password updates are similar to what tools like 1Password and LastPass provide. However, the updated features are not yet available on mobile. This can be a big turn-off for some users and could drive them to use other compatible password managers.

    Users can update to Chrome 69 by utilizing the browser’s built-in updater. They can also download it from google.com/chrome, the Apple App Store and Google Play.

    [Featured image via sketchappsource]

  • Voice Commerce: Is It Living Up to Its Early Hype?

    Voice Commerce: Is It Living Up to Its Early Hype?

    A growing number of people around the world are using the voice search feature in their smartphones and smart speakers to find information, confirm appointments, and even order food. However, one area that voice technology seems to be lagging behind is voice commerce. 

    Rise of Voice Technology

    Telling a computer to retrieve information or to play a specific song was something that Star Trek fans used to see in their favorite show. But thanks to Google and Amazon, voice technology has been steadily rising. As a matter of fact, a GlobalWebIndex report revealed that 27 percent of the world’s online population is already using voice search on their mobile devices. Meanwhile, 1/3 of Internet users have indicated an interest in buying a voice-controlled smart assistant.

    Image result for GlobalWebIndex 27% voice command

    At the moment, Amazon is leading the voice tech charge with its smart speaker, the Amazon Echo. This was soundly proven during the 2017 holiday season when the Echo Dot became the company’s top-selling device and millions of Alexa-enabled smart devices were sold.

    Google Home’s voice assistant isn’t too far behind either. Ever since the Google Home Mini rolled out in October 2017, there’s more than one Google Home device being sold every second. Google Assistant is also now available on 400 million devices. Even Apple has gotten into the game with its Home Pod.

    What’s Taking Voice Commerce So Long?

    Aside from making web searches easier, voice technology can also change the way we make purchases. The GlobalWebIndex report pointed out that the grocery and retail would be significantly impacted by this technology in 2018. However, it appears that consumers are slow in embracing voice-powered eCommerce.

    According to The Information, 50 million people own and use Alexa-enabled devices but only two percent have used them to buy something. And 90 percent of those who did use Alexa to make a purchase have not made a second transaction. This has led to questions regarding voice technology’s feasibility and whether or not its impact is just all hype.

    One reason for consumers’ slow acceptance of voice tech is its irrelevance in particular niches. When it comes to online retailers, displays and graphics are a critical and decisive factor. Unfortunately, voice tech cannot really stand on its own in this industry. It should be considered as a means to augment and support visual channels instead. For instance, consumers who are looking to buy clothes require visuals of the product.

    Meanwhile, businesses, where graphics are less important, will find voice tech useful, like in ordering food, buying groceries, or reserving tickets. These are the kind of transactions that don’t demand a lot of in-store or on-screen assessment.

    Voice tech is also undergoing the inevitable teething pain. Some retailers have also complained about how their product keywords were constantly changed, thus making it harder for consumers to find. There’s also the fact that a lot of people prefer to research things like the prices of goods on their own.

    The Future of Voice Tech in eCommerce

    Consumers might be slow in taking advantage of voice tech in eCommerce, but it doesn’t mean that they will never embrace it. A survey conducted in France, Germany, and the US showed that 40 percent of the 5,000 respondents intend to use voice assistants to buy goods in the next three years.

    [Graphic via Capgemini]

    Tech companies will also be adjusting their designs and strategies to ensure the profitability of voice commerce. Amazon and Google are already taking steps to ensure this happens. For instance, Google’s latest Home assistants now come with a display screen. Instead of a garbled product description, consumers can now enjoy visual options.

    Consumer behavior is also expected to change. As more people become comfortable using voice to activate light switches and televisions, making a purchase via voice tech will feel normal. Businesses will also find more ways to use this technology to encourage purchases.

    One such company is Virgin Trains. The train company partnered with Alexa and Amazon Pay in May to allow customers to book their tickets via an Alexa-enabled device like the Amazon Echo or Dot.

    Image result for virgin trains alexa

    [Graphic via Amazon]

    Natasha Toothill, the head of enterprise over at Amazon Pay, is just one of many who believe that there’s room for growth in voice commerce. She explained at Future Stores Europe that compared to emails and IMs, voice tech is “the most natural way of communicating.”

  • Is it Time to Refine Your Value Proposition?

    Is it Time to Refine Your Value Proposition?

    What value do you offer your clients? This is a very important question that a lot of companies struggle to answer. It’s also a question that you have to answer quickly, effectively, and clearly. Otherwise, your prospective client will lose interest and move on to the next brand.

    So how will you answer this question? You have to develop a solid value proposition in order to address this key concern.

    Value Proposition and Its Importance

    Value proposition is a complicated principle that can be defined in numerous ways, but it basically boils down to three things:

    • What your company offers
    • What users will get from your brand
    • Why your company is the best choice

    If you’re looking for a more precise definition, then value proposition is the promise of benefits that your company will provide to the customer.

    Having a clear value proposition is crucial because it helps you to convey how your product or service solves a problem or how it can be an asset to your target market. After all, how can you convince consumers to pick your brand if you can’t tell them exactly why they should?

    How to Refine Your Company’s Value Proposition

    While a value proposition sounds pretty straightforward, creating one can take some figuring out. This is because it has to be concise, unique, and compelling to be effective. It also has to be focused on what the user needs; not on what you can offer. Here are some ways you can develop or refine your company’s value proposition:

    Know Your Buyer Personas

    You can’t create or refine your value proposition if you don’t know who your buyers are. Begin by placing yourself in their shoes. Next, answer key questions like:

    • What do your buyers require?
    • What problems do they want to resolve?
    • What improvements are they looking for?
    • What do your customers value?

    Never guess who your buyer is or what they want. Do market research to get the answers to your questions. Interview your customers, conduct surveys, or organize a focus group.

    Know Your Product 

    Make sure you know your product well. Look at your product from your customer’s viewpoint. You should be able to answer important questions like how the product solves a problem or what hard results does it provide the customer. If you can integrate some verified facts in your answer, so much the better.

    Take the case of Unbounce. The software company uses its landing page to boldly call itself “The Conversion Platform for Marketers.” In five words, it says exactly what it does and calls out its target market directly. 

    It then goes on to clarify its value proposition by positioning itself as ” the easiest way to build and test custom landing pages, website popups and sticky bars.”

    Get to Know Your Rivals

    No matter how unique you believe your product or service is, there will always be another company offering the same thing. That means you’ll need to distinguish what sets your product apart from the others and how it provides more value than your competitor.

    Put All The Information Together

    Once you have all the information you need, distill all that data and answer the question – “Why should I purchase this particular product?” Try to give your answer in two to three sentences. It will also help if you start your answer with phrases like “My product is better because” or “I want to purchase this product because.”

    Uber is a prime example of a company that was able to successfully leverage its value proposition.

    The ride-sharing company has a lot of competitors, but what it did better was to push the value of convenience. Uber subtly highlighted all the reasons why people hate taking a taxi before offering its proposition. Its website copy simply states that a car will come to you with just one tap. It also highlighted key points like the driver knowing where you want to go and the convenience of a cashless transaction.

    Value proposition examples Uber

    Conclusion

    A strong value proposition is essential for a company’s success. It makes connecting with your target audience easier and also establishes the base where you can build your brand’s sales and marketing strategies. You can easily enhance your value proposition by knowing your buyer personas and brand, using verifiable facts and knowing who your rivals are.