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Big Question – Why Is There a Need for Brands to Tech-Innovate?

Technology is affecting consumers’ lives by changing the way they live and interact with brands. A recent study by consulting firm Kantar TNS, found that that 47 percent of India’s consumers with access to basic Internet feel constantly followed by online advertising, about 13 percent more than the global average. But what is more interesting is the fact that 21 percent of those responded that they ignore social posts or content from brands. This brings us to the question: Can publishers and business owners still find success to win customers?

Problem is in the roots

One of the biggest hurdles that still hinders the brand-consumer conversation is the lack of personalization. The traditional methods of web marketing included mainly Search Engine Optimization and Search Engine Marketing (SEO and SEM) and paid search. In those days, ‘more visibility’ of the product was the primary motive of online marketing. The directive was pretty straightforward – find a product and promote it digitally. It took a while for brand managers to realize that mere visibility is not effective – the results were more often linked with how the message engaged the consumer.

That is when the marketers understood the value of ‘Unified Consumer View’ and ‘Customer Journey Mapping’. Thus, with the advent of data analytics the shift of focus from ‘push marketing’ to ‘pull marketing’ began. These changes also gave rise to marketing technology or MarTech, slowly crediting it to become a critical part of the brand strategy. The question is: Is enough being done? Perhaps, not!

Marketers today are looking at something more than just marketing messaging gateway. Brands today are capable to track their consumer behaviour through their digital footprint by means of analytics and MarTech tools to help customize product offerings depending upon the consumers’ individual interest. A paradigm shift in this direction has already begun – from finding a product to promote to eventually becoming marketing relevant products basis consumer needs.

The workflow of visual-based marketing has made way for marketing automation tools to help brand managers to engage consumers with the right message on the right platform. This often means that companies need to tech-innovate (innovate using technology) to craft engaging conversation points across channels such as web mail, SMS and social media, etc. This habit of innovation using technology has to be based on the understanding of the customer’s preference. For instance, if a consumer prefers email as source of information from brands, data analytics will process and assimilate the data and automate personalized email messages can be directed to the consumer.

The most important aspect of marketing automation is that it enables brands to strategize and manage their Marketing campaigns well in advance. Therefore, in case of festive season, which is peak time for brands in terms of sales, marketing automation helps brands to manage their messaging and strategize promotions well in advance, which leaves no space for chaos during heavy traffic on their websites.

The benefit that a consumer gets is access to all the information of various products and services on relevant platforms and engage real-time with brands while browsing or shopping online.

The adoption rate of marketing technology is extremely high with brands to gauge better customer data integration, and mapping customer experiences to a company’s vision of omni-channel customer service.

Therefore, the data analytics embedded at the core of MarTech helps to improve customer service. Currently, ecommerce, retail and BFSI have been taking the lead in this. But opportunities are galore for other industries too. There are innumerable things that a brand can do with MarTech more efficiently and get into the next level of customer integration.

Digital media and technology in marketing has become omnipresent and there is no longer complete divide in perception amongst “digital marketing activities” and is simply considered as part of marketing. This thinking is partially driven by changes in consumer media consumption where they continue to consume content in different formats such as mobile, web, social media, etc. basis their preferences without consciously thinking about the channels. Real-time engagement in digital platform has emerged to be the most significant tool to drive improved outcome for brands to engage directly with consumers in a more coordinated and efficient approach.

Often, building in-house capabilities to nurture and implement MarTech best practices poses a challenge. In such circumstances, it is best to associate with a marketing technology consultancy that not only understands the ecosystem, but also has the wherewithal to execute plans across channels, which is imperative.

Be An Entrepreneur : I Got an Idea, Now What?

And so the journey begins; you get this idea to create a one of a kind product, you convince yourself that this product will solve a whole lot of problems, and make you really wealthy. Sounds familiar? An idea is one thing, but embarking on the journey of making your idea take flight is a whole different ball game. For many people, the thought of leaving a consistent income to start a new business can be scary and nerve-racking and agreeably so, but, people have gone through the entrepreneurial experience, and they say it is worth it.

There are a lot of reasons why people go into entrepreneurship. If you do not like the regular 9-5 lifestyle and want to work on their own terms, then maybe entrepreneurship is for you. People get fired from their jobs or have a bad experience in the traditional workplace and this gives them the push to figure out their dreams and strive to pursue it, while others have to stay home with family. Irrespective of the reason why decide to become an entrepreneur, you must set goals, write them down and review them from time to time to keep yourself grounded.

Entrepreneurship is not bliss, it is a journey of ups and downs, and it does not matter what caused you to choose this lifestyle, starting off on the right foot can really help you keep the momentum going throughout the entire journey. Here is what you can do to start off on the right foot.

Celebrate. We all love a good party don’t we, there is never a good time or better way to start your entrepreneurship journey than with a celebration. A great idea is a good thing, and is worth celebrating, not everybody has the guts or opportunity to do what you want to do. Celebrating your idea does not have to be elaborate, it could be a party of 3, 4, 5 whatever you can do, make it memorable, make sure it is something you would remember, because trust me, it may be a while till you do find a reason to do this again.

Write a Business Plan. The next thing to do is to plan your business, there is a saying that if you fail to plan, you plan to fail. Get your pen and paper, tablet or laptop and start writing, write down everything you want your business to look like, your product(s), product names, the personality you would medicinesfinder like your business to embody, what you want to accomplish, how you would like to shape the world, how you would handle marketing and how much would you like to make. There is nothing that too inconsequential to include, and you should review and make changes to your business plan when necessary.

Get to work. Ever hear the term wantrepreneur? They are people who tell the whole world about this wonderful idea but never sit down to bring these ideas to life. Entrepreneurs are not like that, so get working, start creating your product or service, when you create the product, test it, make sure that the product works exactly the way it has been designed to work.

Grow your Community. One good way to promote your product is by talking about it, give people snippets of what your product can do and get their opinion. Spend time to engage with people who you think would be the best customers for your products. Social media is a great place to do this. You want to start to create demand for your product early in the product creation process.

Stay Positive. It really can be discouraging when things don’t go the way we plan. The fact of life is that things don’t always go the way we plan or imagine it would, the people who are successful are the ones who pick themselves up after a failure or defeat and carry on. You must stay strong and stay positive all through your journey to succeed.

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You Should Know – The Importance Of Starting A Business

You’re never too old or too young to start your own business, and why not? According to some recent studies, the main reason behind people starting their own businesses is wealth creation. Other reasons are: people want to be their own boss, they don’t like to have a 9-5 job, they want to love what they do and do what they love, they want to spend more time with their children.

What would your objectives be if you decide to start your own business?

Are you looking to balance your career and family and have flexibility while having an increase income potential? But with independence comes a price. If you are willing to take the plunge to provide for your loved ones and their future, here are some pros and cons for you to consider…

Pros and cons of starting your own business

You are your own boss, and that in all is the greatest motivation to succeeding and increasing your wealth for the future to come. You call the shots, you can choose your hours, days, and times that you want to invest in your future. You get to do what you love. But, you are also the custodian, representative, tech support, marketer and accountant. Having your own business takes a great amount of responsibility as well.

Spending time with your loved ones is also the reason you have decided to start your own business. Because you are your own boss, you make your schedule and adjust it to fit your families. You would be allowed to spend more time with your loved ones and go on vacations. But because you are starting your own business, it is very likely that your business will be from home. This might not suit well at first if you have young children. They can be quite a distraction but if you learn how to manage your time and create a special place for your business, you should be on your way towards success.

Wealth creation is like I mentioned before the #1 reason for starting your own business. Who doesn’t want to secure their families future? Owning your own business provides a better opportunity for greater earnings and growth and a promising future. All the hard work and investment you make go towards the future of yourself and your loved ones.

In addition, your success can inspire and help others achieve greatness.