Author

editor

Browsing

By ANA ANDJELIC

Self-promotion might not come naturally for some, but less outgoing people can use their natural strengths to create an authentic online presence.

Psychologist Carl Jung popularized the terms “introvert” and “extrovert” back in 1921, but he didn’t think anyone was solely one or the other. “There’s no such thing as a pure introvert or extrovert,” he wrote, and yet, nearly a hundred years later, we still love to use these terms to explain our behaviors.

There’s a reason that these simple dichotomies can be useful: Organizing people into categories helps us quickly orient ourselves in the world. They also let us make a point quickly, as author Susan Cain demonstrated in her exploration of the benefits of introversion in the Western world. Much of what Cain describes is internet culture, which is noisy, crowded, and interactive by design. It requires constant self-promotion, inspires oversharing, and rewards the loudest of voices.

Internet culture shapes our ideas of diversity, representation, and empowerment. For a woman to win, she needs to “put herself out there,” act fearless, be a “superwoman” and a “girlboss.” Boldness, loudness, fierceness are mandatory. Even our fight for equality is made for those drawing energy from being around others.

Today, this culture is at its fever pitch. But there’s also been a backlash: There’s increasingly talk about the millennial burnout, the dangers of hustle porn, the warnings about our ever-shortening attention spans, and about the benefits of unplugging. We all need some quiet time.

This emerging cultural shift asks for the nuance. It gives us an opening to question the accepted norms when it comes to professional advancement and to desirable work practices, including building a personal brand. It offers us an opportunity to examine the stereotypes and to undo the old narratives.

The first step in this process is to recognize that craving constant social interaction is a personal tendency, but also a currently dominant social, organizational, and business ideology. In the same way that we pushed ourselves to be constantly “out there,” we can flip the script and turn the traits of unplugging into our collective aspiration.

We can all strive to communicate less, but deeper and more meaningfully; to prioritize listening and observing over speaking; to be less motivated by ego and more by larger purpose; and to focus on self-expression over self-promotion. In the age of overstimulation, there is much to be said for the ability to focus, work autonomously, spend time alone, and nurture independent thinking.

Enjoying time alone and having a personal brand was once considered a contradiction in terms. Today, it may be the winning approach. In practice, this means playing up on the benefits of recharging solo, regardless of where you are on the introversion-extroversion continuum. It also means decoupling social interaction and social media. If you are a person who draws energy from spending time alone, one or more of these personal branding styles may resonate with you. And if you are a person who is energized by social interaction, you can use these methodologies to infuse more nuance into your own personal brand.

THE LEADER

We have been primed to think of leaders as fast-charging pep talkers, but it turns out that introverted leaders deliver better results than extroverts, according to research by psychologist Adam Grant, a management professor at Wharton.

“I know it’s fashionable now to call yourself an introvert,” says Chapin Clark, executive creative director at an advertising agency R/GA, and the voice behind its popular @RGA Twitter account. “Being too visible, too exposed, makes me uncomfortable,” says Clark, who instead says he’s worked to be receptive to ideas of others, making them more motivated to participate. “In working with junior creatives, I like to step back and give them more space than other people might to pursue their ideas. That goes for presenting work, as well. I like to make it a shared responsibility.”

According to research published in Harvard Business Review, when leaders are open-minded and supportive, employees are also more inclined to step up their game, knowing their ideas will be heard and implemented. If success of startups like Glossier, Tracksmith, or Outdoor Voices is any indicator, modern entrepreneurship emphasizes crowdsourcing, invites customers in the brand, and fosters a feeling of fandom and community. Introverted leaders have proven that they go beyond their ego and craving for spotlight and work toward a larger goal; this purpose-driven approach gives them the power and authenticity that inspire a following—and a personal brand worth cultivating.

THE CURATOR 

Introverts are able to spend a lot of time with an area or activity of interest. They are repositories of specific knowledge, ready to travel the world to obtain a coveted item or experience, and passionately talk about their latest acquisitions. Born in Vancouver, Kevin Ma says he grew up far from the hubs of youth culture. He started Hypebeast as a sneaker blog from his bedroom in 2005. Fast forward to 2019, and the company, now publicly traded and with diversified revenue streams, is the ultimate global destination for streetwear, fashion, and culture.

Hypebeast’s site enjoys 46 million page views a month, and has more than 660,000 Twitter followers and 7.9 million Instagram fans, but Ma’s profile is decidedly low. “Curators are often playing the long game, slowly building up knowledge, sharing it, improving upon it,” says Colin Nagy, head of strategy for advertising agency Fred&Farid. Because curators are able to focus and dig deep, and because they are highly selective in how they socialize, they regularly build influential cultural niches around themselves—whether that be sneakers or denim or food—and often become a source of inspiration for wider trends. Their identity is often deeply tied to the subject matter, which makes them stand out in the vortex of speed, superficiality, and newness.

THE OBSERVER

Introverts’ inclination is to listen rather than speak. This makes them sensitive to the nuance and complexity of life situations, and it gives them time to think and process aspects that may go unnoticed by extroverts. Their comfort zone is writing vs. talking, and social media offers them a platform to build a personal brand around their astute and often witty observations. It gives them the ability to reach a number of people on their own terms—in the solitude of their office, for example—without having to be physically present and active in large social groups.

“The advent of social media, Twitter in particular, has been a blessing for me. I have always felt confident expressing myself in writing, and Twitter, the way it works, felt like it was made for me,” says Clark. “It allowed me to express myself in a public way … that at the same time feels safe. That’s because it has allowed me to create a persona that is me but also not me. … There is a distance, a buffer, that allows me to say things in writing that I wouldn’t out loud.”

THE EXPERT

Kawhi Leonard is a three-time All-Star and a two-time NBA Defense Player of the Year. He’s equally famous for his reclusive behavior, monosyllabic press conference answers, and avoidance of social media. He built his brand thanks to mass media and thanks to his single-minded focus on honing his skills.

Exposure, self-promotion, and amassing a large following is never going to compensate for the lack of willingness to invest time and energy to become good at what you do. Obsessive preparation, time spent thinking and honing one’s craft, evaluating and constructing a solution, and not giving up easily are critical to building one’s name in any profession. If you are an expert in your area of work, others will take notice—with or without your social media presence.

Feature Image Credit:[Photo: Timon Studler/Unsplash]

By ANA ANDJELIC

Sourced from FastCompany

By

There are many web marketing tips that can be employed depending on what you’re able to do technologically.

Affiliate promotion is not spamming everyone on the Internet. It takes a lot of understanding and strategy.When taking a chance on affiliate marketing, it will be beneficial to seek out and sign up with affiliates that will provide you with the products and service you will be selling.

Try to have multiple affiliates. This will give you a variety of income feeds. Research the affiliate programs thoroughly before working with them. You need to know that you will feel comfortable promoting their products.See how a company tracks outside orders when choosing an affiliate company. You might lose a lot of commissions if those outside sales are made by mail or on the phone.

In order to make sure the money gets where it needs to be, you need to consider affiliate companies that provide different payment options. There are companies that require you to make a certain amount of money before they will pay you, but there are also those that direct deposit funds into your bank at your discretion.

A lot of affiliates end up losing valuable time by having to re-read emails that contain instructions for tasks in their email and then check them.

This is a great way to save time as you will have all the important information in one document.

When searching for an affiliate marketing partner, find companies that continuously make new products. Go with a solid reputable company and one that is constantly coming out with many new products, this way you can get repeat business. You may not succeed with the new hot product.

You should choose an affiliate that has a lot of different options when it comes to getting your payments.

People who access a themed website, like sports, are already thinking about sports. Placing a link for an affiliate website won’t give you any benefit unless it is related to sports. Links that have some pertinence to what is on the mind of your visitors will provide you with the most benefit.

Only partner with reliable affiliate companies. You should look for less than 20% or higher on their products.The best affiliates offer high percentages to their business.

Think carefully about the products that you want to link to before you do it. You will see money roll in when you know how to put your links in the right places.

Carefully consider which products you put on your site. It is crucial to strategically place your affiliate links in order to ensure profitability.

When doing affiliate marketing you should never be deceptive about what business you are in. If you are endorsing a product that you are profiting from, let the audience know and don’t attempt to mislead their choices. If a visitor thinks there is any dishonesty going on with your site, they will go instead to the merchant site for their purchase.

There is a variety in affiliate programs. Each one is unique in it’s product and level of flexibility.

Look for affiliate partners with a high ratio of customers to visitors. A 1% transformation equation is a favourable gauge.Knowing what is going on in real time is essential. This lets you know how many users have been to your site and the number of sales conversions.

Offering a product for only a limited amount of time can be an effective affiliate marketing strategy. If your customers see there’s a small window of time for them to purchase your product, it may give them a push to purchase it. This extra push can be a terrific way to maximize the volume and efficiency of sales.

Be honest with readers about your audience when you have affiliates. Being honest shows that you respect your customers and they can trust you.

Tell your readers information about your affiliations. Being honest shows that you respect your customers and they are sure to appreciate that.

Make sure you attract a good audience for the products you are going to market. When you have a product that is costly, more direct targeting is necessary.Putting a trivia question in a banner ad can intrigue your visitors to want to answer it by viewing your site. Curiosity is a powerful motive and can add many clicks to your banner ad. Sweeten the pot by offering discounts to visitors who got the question right.

Do not rely on just a small number of affiliate partners to make up the entirety of your internet marketing campaign. Have a large variety of products in your inventory. A spread out group of affiliates will prevent you protected from large losses when you cut out one that have become unprofitable. If you are not advertising just as many products as you can comfortably handle, seek out more.

The most sought after commission in affiliate marketing enterprises is known as a lifetime commission. Lifetime commissions are very difficult to find. They amount of money you can generate however, means that they are still worth looking for. Vendors pay the webmaster a commission for purchases made by the customers steered to them by the webmaster. Usually, the commission is given only if a buyer buys within a time period after they click on the link. The potential rewards are so great that it is worth it to find the rare lifetime commissions out there.

Even a slight negative connotations are not good.

Back-links are a great way to attract more visitors, but you should always make sure your back-links describe your content accordingly. If your customer comes to your site looking for an HP tablet, they won’t be able to see iPads. It takes an extremely compelling marketing effort to overcome the mistrust that such deceptive backlinks foster in your would-be customers.

It is important to always be honest with anyone reading your clients in online marketing. Honesty is the key to having a loyal user base.Keeping your affiliate marketing techniques relevant and timely is one of the most crucial elements to success. Take the time every few months to look at new programs your affiliates may be offering. New tools are currently being implemented to maximize the usability of affiliate programs to make ads appealing to readers.

You should do your web marketing in the same manner you would any other business. You want your links that do not directly mention the real seller.You want your customers to get the impression that you are closely connected to the product you are selling.

57e7d0454854a414f6da8c7dda793278143fdef85254774e742b7ed19f4e 640 2 - Learn Internet Marketing Strategies To Increase Your Profit

When you use affiliate marketing you should use your products personally. Placing reviews and articles about the product online is a great way to let people know how useful you find the product to be. In addition, you can post on a number of forums and discuss the ways in which the product has been beneficial to you. Each time you post anything, remember to link back to your site.

All good affiliate marketers should be aware that pay-per-sale plan can be risky. It can also be quite lucrative if done properly. Do your homework and look into the affiliate’s background to determine if it will be a good partnership before you might be interested in.

Do not put an excessive amount of banners on your site. A website stuffed with advertisements is not one that welcomes visitors. You will drive away potential business and appear unprofessional if you load your pages down with too many ads. Make sure that there is an abundant amount of content on your website. Design your website so that when someone visits it, their attention is immediately focused on the content, and not the banners.

Affiliate marketers who reside in California have been resolved so accounts suspended in 2011 can now replace the links that they lost. The law that made Amazon drop their clients has been edited so that they can participate again. Be sure to sign up for the program if affected.A person going into affiliate marketing has to realize that working with a pay-per-sale company, through affiliate marketing, can be a risky undertaking. But if it works well, they can lead to a great deal of money. Look into how the affiliate performs for others and how well the product would fit your site, and make a careful decision.

Join an online web marketing forum to get fresh ideas and advice. There are a number of different online forums on the internet that allow you to exchange ideas and help each other.If isn’t broke, don’t fix it; sell what is already sought after instead of coming up with something new. Some affiliate marketers will stay away from the popular categories because of the increased competition. It is easier to persuade visitors to your site to buy things if you are selling a popular product. You should remember that the popular niches have a buyer pool that is already primed for the products and connecting with them is the only challenge. You have to create a marketing plan that gets you noticed.

Back-end sales are necessary in order the maximize the success of web marketing campaigns. You should get commissions on the sales that result from referrals you refer customers to. Get everything you deserve by being involved with businesses that give you a percentage for these back-end sales.Become a member of some of the reputable online affiliate forums to learn new tricks and share what has worked for you. There are a huge number of affiliate marketing forums where you can get help, as well as tools and programs to make your affiliate site even better.Use paid advertising to increase the sales and profits on your campaigns. Buying ads focused on the right keywords will create sales and sales. The numbers of prospective buyers will increase when doing this.

Set yourself small goals every single day to aid you in your affiliate marketing strategy. Motivation remains as long as there are unfinished tasks visible in the task bar.

Tracking Service

Try converting customers into affiliate partners. People that actually use and like the products are going to be better at selling it. By recruiting customers to be affiliates, you can greatly increase the number of sales you make. You can increase your gain and you will have another outlet for new customers to visit.

Use a reputable tracking service you are owed. If an affiliate doesn’t calculate your sales correctly, it will be your bank account that suffers. Avoid this by using a reliable tracking service at all times. Paying for a small fee is worth finding a reputable service.Use a reputable tracking service that provides accurate reports of what you are owed. Affiliates have been known to incorrectly track sales, which can cause a loss of profits for you. A reliable tracking service will protect you from this let down and inconvenience. This service will be a very practical investment that will protect your profits.

Consider creating an e-book to post on websites that share documents. This helps highlight your expertise and also attract those that are searching for information that is similar to content on your website. Do not be shy about promoting yourself and your website links in the document.Know your niche when you pick affiliates. You should make sure that your affiliates are promoting products and services that are compatible or complementary to what your website offers. The clients come to your website for a particular product and have particular ideas in mind ahead of time. Always offer advertisements that will meet the needs of your clientele.

Use a multitude of advertising to spread the word about your affiliate product. A lot of your customer base will prefer online shopping. Some customers prefer to receive brochures and fliers. Some people might respond well to a special deal or savings coupon. You will draw a wider audience by employing several venues to advertise your product.You need to think about how your article affiliate marketing is leveraging the power of social media. Social media is certainly considered important to Google. Social media is a large factor in how market sites are booked and how search results are produced through Google. The tendrils of social networks like Twitter and Facebook grow deep, touching nearly every page on the Internet.

You need to invest some money in online marketing before you see the profit you want to garner. Reinvest in web marketing profits by advertising to new venues. Many major sites, Yahoo, which can draw a lot of traffic with the right ad.Make education into the best ways to market product a priority if you wish to be a profitable affiliate marketer. Some affiliates use whatever they can find for free. It is true that you have nothing to lose if you find a program that is free; however, it is crucial to keep your goals in mind and chose ones that will get you there.

Try to mention different uses for the products if you can. For instance, if you have a shoe mat, post a video to your site of using it as a dog water and food tray, or putting one under a candle to prevent wax dripping everywhere.This will greatly appeal to an older audience, like baby boomers. Design your website for this audience. You could for instance make your font a few points bigger to make it easier to read.It is common to see newcomers to internet marketing jump at the first option that is offered free offering. Free methods are not necessarily bad; however, but you need to focus on effectiveness.

If you use these ideas, you will be able to find how to get the right people and make a good profit. Your skills may advance past those in this article through practice in this field. It’s always key to remember the fundamentals and keep your marketing campaign as simple as you can.

By

Sourced from https://duracmarketing.com

By

Brands have embraced automation to help them carry out a spectrum of everyday tasks. According to a recent survey published by Social Media Today, 75 percent of marketing teams use some form of an automation tool. However, with growing popularity, there are growing concerns. The same survey reports that 61 percent of marketers are concerned about the lack of personalization due to automation. Likewise, a global study by PWC found that as technology advances, most consumers want brands to use technology as a tool for increasing personalized support. Put simply, customers want more human interaction, not less.

That’s why it’s vital that today’s businesses find the right balance between automation and personalization. Companies that go overboard on automation can come across as detached and generic. On the other hand, those that get too personal with customers can come off as intrusive and creepy. Brands need to get it right to maintain a trusting relationship with their customers.

Here are ways marketers can successfully balance automation and personalization.

Offer Timely, Valuable Content

Email campaigns are an effective, low-cost way to leverage automation and personalization, but marketers need to be careful not to clog consumer inboxes. Instead, they should focus on offering relevant and valuable content that doesn’t involve using intrusive data.

Most consumers are familiar with receiving personalized content based on an action, such as an online purchase, that features a related product or service. Using transactional data to send automated, personalized emails can be less intrusive since it’s a natural, and at this point expected, component of the relationship.

Marketers can also use geographical data, such as a customer’s zip code or address, to deliver personalized content, like creating a segmented list of customers and offering them discounts to nearby events. Although consumers dislike when brands bombard them with irrelevant, generic messaging, they also don’t like overly personal messages that infringe on their privacy.

Respect Consumer Privacy

Research shows that 81 percent of consumers want brands to get to know them and understand when to approach them, but not at the expense of their privacy. There is a fine line between highly relevant content and tactics that take marketing personalization too far.

For example, sending mass emails to consumers with the same promotions or offers isn’t an effective strategy. Consumer interests vary significantly. Marketers should pay attention to their target audience and consider whether the interaction will make them feel special or unsettled. Customer data can be used effectively, but content that’s too personalized can disturb customers, thus putting them off the brand.

Enhance the Customer Experience

It’s crucial that marketers use technology to improve the consumer experience, rather than eliminate the human touch. For instance, British grocery chain Sainsbury’s delivered an exceptional customer experience with its “This Time It’s Ultra Personalized!” campaign. The store used smartphone location data to provide personalized offers to customers through their mobile devices as they walked around the store. Not only did the campaign promote in-store offers, but it helped the company gain insights about how people navigated the aisles. As a result, Sainsbury’s was able to make better merchandising decisions and improve its in-store customer experience. Marketers must remember that relationships are crucial in business and that automation tools provide additional support.

Combine Automation and Human Touch

There are many ways marketers can mix automation and personalization, such as inserting tags to add customers’s names in emails to make them feel like the message addresses them individually. Going a step further, marketers can encourage team members to interact with potential customers by making calls, sending emails or requesting a connection on social media.

For example, if a visitor downloads content from the brand’s website, it’s a good idea to have someone on the team reach out personally, immediately. According to an oft-cited Lead Response Management Study, waiting more than 10 minutes to follow up decreased the odds of securing a lead by as much as 400 percent.

If automation and personalization are going to be effective, it’s important to find a way to balance the two. Overdoing automation can make brand messages seem robotic and irrelevant. Likewise, getting too personal can overwhelm consumers. A successful relationship between consumers and brands ultimately relies on the right blend.

Feature Image Credit: Maskot | Getty Images 

By

Co-Founder and CEO of Gain

Sourced from Entrepreneur Europe

By Don Norman

Roberto Verganti and I published an article in the July 2019, Harvard Business Review on the virtues of criticism (Verganti, R., & Norman, D. (2019, July 16, 2019). Why criticism is good for creativity. Harvard Business Review. https://hbr.org/2019/07/why-criticism-is-good-for-creativity. May require registration or payment.)

Here is the basic argument

One of the most popular mantras for innovation is “avoid criticism.” The underlying assumption is that criticism kills the flow of creativity and the enthusiasm of a team. Aversion to criticism has significantly spread in the last 20 years, especially through the advocates of design thinking. (In 1999, in the ABC Nightline video “The Deep Dive,” which ignited the design thinking movement, criticism was stigmatized as negative.) In IDEO’s online teaching platform, the first rule of brainstorming is “defer judgment.” To make this rule even more practical and straightforward, others have reworded it to say: “When a person proposes an idea, don’t say, ‘Yes, but…’ to point out flaws in the idea; instead, say, ‘Yes, and…’” — which is intended to get people to add to the original idea.

We challenge this approach. It encourages design by committee and infuses a superficial sense of collaboration that leads to compromises and weakens ideas. Our view, the product of years of studies of and participation in innovation projects, is that effective teams do not defer critical reflection; they create through criticism.

The secret of criticism in innovation lies in the joint behavior of the participants. Those offering criticism must frame their points as positive, helpful suggestions. Those who are being criticized must use critiques to learn and improve their ideas. When conducted with curiosity and respect, criticism becomes the most advanced form of creativity. It can be fascinating, passionate, fun, and always inspiring. Let us combine “Yes, and” with “Yes, but” to create the constructive and positive “Yes, but, and.”

By Don Norman

Sourced from LinkedIn

RememBear help generate, store, and auto-fill strong passwords to keep your info save.

Coming up with strong passwords is hard. Remembering them all is even harder. That’s why you need RememBear password manager to make things simple.

Just about everything you do online requires you to register and create a password. In fact, some experts estimate that the average consumer has over 100 different online accounts with banks, email providers, online retailers, social media sites, credit card companies, newspapers, telecom providers, airlines, travel fare aggregators, video and music streaming services, cloud services, food delivery services, employee portals, online classified advertising services, and pretty much every single app on your phone.

In order to keep all these accounts secure and safe from hackers, each one should have a unique password that’s at least 12-14 characters in length and includes uppercase letters, lowercase letters, numbers, and symbols. You should also change your passwords once or twice a year and avoid saving them online.

So, do you have a strong unique password for every single one of your online accounts? And do you change them all every six to twelve months? Probably not. And you’re hardly alone.

According to one recent study, 82 percent of U.S. adults use the same password for different accounts, 61 percent say they use the same password it at least half the time, 22 percent say they use the same password all the time, and 45 percent say they save passwords online. No wonder an estimated 60 million Americans have been the victims of identity theft.

If you want to keep your online data secure, starting taking your passwords more seriously and sign up for RememBear.

RememBear

RememBear is like a lot of other password managers—only it’s a lot easier to use, with a more advanced security architecture and way more bear puns.

RememBear makes your online life simpler and more secure by generating, storing, and autofilling strong unique passwords for all of your online accounts. It also has support for face and fingerprint ID, and can store payment information so you don’t have to get up off the couch and grab your wallet every time you want to buy something. Once your account is set up, you only have to remember one password. RememBear takes care of everything else.

To keep your passwords secure, RememBear uses end-to-end 256AES encryption. That means your passwords are encrypted by you, on your device, before they are sent over the internet and stored on the RememBear servers. But the security doesn’t stop there. To ensure that only you can retrieve your encrypted information, RememBear uses a form of cryptographic key exchange called Secure Remote Password. This allows them to verify your password without their servers ever knowing what your master password is. In short, in the event that the RememBear servers were ever hacked, there would be no way for the hackers to decrypt and exploit your information, giving you complete peace of mind.

RememBear Premium

RememBear comes in both free and premium versions. The free version generates, stores, and autofills all your passwords, and offers the same level of security. It also features the same easy-to-use interface. However, it only works on one device, and does not include sync or backup.

The premium version of RememBear allows you to sync your information across all your devices and comes with priority customer service. And you can get it for as little as $3 per month when you sign up for a one-year subscription.

That’s a very small price to pay for a service that makes your online life easier and more secure. So click here to learn more about RememBear, today.

Inverse may receive a portion of sales from the post above, which was created independently from Inverse’s editorial and advertising team.

Media via RememBear, Unsplash

Sourced from Inverse

By

From Amazon to Target and beyond, there seems no end to the proliferation of private-label brands competing for consumer dollars. Throw in services like the online startup Brandless, and it’s virtually a free-for-all for both established and emerging CPG brands.

The most-purchased private label category is food, with 58% of adult shoppers saying they purchased such items in the last 30 days, according to consumer research provider MRI-Simmons.

From a retailer perspective, this is very appealing given the economics of the grocery business. According to CB Insights, while the average profit margin on grocery store goods is about 1.3%, retailers earn 25% to 30% higher gross margins on private labels compared to manufacturer brands.

Citing one example, CB Insights notes how Kroger has long used shopper analytics to guide investments in its own manufacturing facilities and now has a portfolio of over 40 plants processing everything from Big K Cola to spaghetti sauce. Kroger’s Our Brands line comprised nearly 30% of the company’s unit sales as of March 2018, the research firm says.

In the food and beverage space, purchasing private-label products is the No. 1 money-saving tactic among adult shoppers across all income segments, according to a report from IRI for the first quarter of 2019. That tops trying new, lower-priced brands; visiting multiple retailers; downloading coupons from a retailer/manufacturer website and comparing prices on area retailers’ websites. Those money-saving tactics appear in the exact same order when it comes to the purchase of private-label non-food items, IRI says in a separate report.

These insights have not been lost on Target, which generated headlines this month when it announced a major expansion of its private-label offerings. In addition to the youth-oriented, non-edibles branded More Than Magic line (everything from sportswear to electronics and stationery), Target unveiled plans for its own food and beverages under the Good and Gather tag.

“We know that food and beverage is a big reason our guests like shopping at Target, since nearly three quarters of our baskets have at least one food item in them,” Executive Vice President and Chief Merchandising Officer Mark Tritton said while explaining the company’s second-quarter 2019 earnings. “And driven by the improvements we have implemented over the last two years, we have been seeing consistent growth and market share gains in food and beverage for well over a year.”

While Target is aiming to stock some 2,000 private-label items within a year, Amazon Basics is already there and then some, with more than three times as many items, according to data company ScrapeHero. Even though Amazon’s aggressive embrace of its own products — particularly as regards to which brands show up in on-site search results — has angered many of its longtime brand partners, the digital behemoth continues to plunge full-speed ahead.

Then there is Brandless, the online startup that sells food and personal care products, (many priced at $3), which clearly has Amazon in its sights. Launched in July of 2017, Brandless this month landed $240 million in a funding round led by SoftBank Vision Fund. It represents SoftBank’s second large ecommerce investment in the U.S. (sports-apparel company Fanatics was the first).

Still, according to MRI-Simmons, younger shoppers are the most skeptical of private-label offerings. Those in the 18-34 cohort are more likely than all adult shoppers to agree that private label products are less trustworthy than name brands and that they feel “cheap” when they buy them.

By

Sourced from MediaPost

By Aaron Brooks,

The Times recently reported that influencer marketing fraud costs sponsors, on average, £1 billion each year. This waste is attributed to social creators with inauthentic audiences. Brands are pouring their marketing funds into influencer collaborations which are broadcast to bot accounts, rather than receptive, engaged social audiences.

For anyone close to the influencer marketing industry, fake followers are old news. They are the unfortunate but inevitable hangers on that come with large social followings. Respectable influencers will regularly and ruthlessly delete them, knowing what a negative impact silent and inactive followers can have on the performance of their posts and their reputation. Manually checking new followers and gauging their authenticity is necessary admin for a social content creator – and the only way to keep the value in their followings.

On the other hand, some influencers still intentionally buy fake followers to enhance their follower count. It’s something that content and influencer marketing platforms – and Instagram themselves – have been cracking down on for years. The fact that someone has slapped a valuation on its impact has brought it back to focus.

Looking beyond reach 

The practise of buying fake followers originated with brands’ obsession with reach. The bigger audience an influencer had, the more interest they got and higher fees they received. Attempts to ‘game the system’ were made by smaller influencers trying to get a crack at the big brand endorsement deals.

It didn’t take long for the wheels to come off this half-baked plan. As marketers realised engagement (likes and comments) was actually more valuable than reach, influencers realised that high volumes of silent and inactive followers were in fact causing their engagement rates to plummet. Fake followers can’t mimic the same engagement as a loyal and genuine following, built up over years of posting.

Despite this, some marketers remain hopelessly devoted to reach. I have no doubt that those still ploughing their budgets into influencers with large followings, without doing due diligence on whether they are actually real, are losing money.

Luckily there are no shortage of amazing influencers to partner with. There are just as many creative, professional and authentic influencers that will deliver results, as there are wannabes with falsely inflated followings. A considered selection process is key.

Focussing on solid ROI

A genuine following should be the minimum requirement for brands partnering with influencers.

Advanced analytics can now tell a brand where an influencer’s following is based and how old they are, so marketers can target their customers with precision. Relevancy is essential for an effective campaign. The focus shouldn’t be how many people see the posts, but rather how many of the right people see the posts.

Brands should also be aiming higher when it comes to the results of an influencer marketing collaboration. Reach and engagement should come as standard, a natural byproduct of a campaign that achieves solid return on investment, sales uplift or app downloads. These are far more valuable metrics to focus on and diverts attention away from the size of an influencers following.

The end of Instagram likes?

As the influencer marketing industry matures, Instagram is moving the goal posts too. Their recent trial to hide likes from public view caused a stir in the marketing press. While it’s only being tested in a selected number of countries, many asked whether it was ‘the end for influencer marketing’. But I believe it will make for a more authentic practise.

Firstly, it will force agencies and campaigns that have pinned their success on empty vanity metrics, such as likes, to up their game. Visible engagement can not and should not be used to justify an influencer campaign. Let’s look at the real, transparent return on investment.

I think it will also place a renewed focus on quality and individuality. Creators will no longer feel constrained by pressure to chase likes and will be free to make content that feels more authentic. Content that’s braver and doesn’t follow a tried and tested aesthetic. This renaissance in creativity is likely to spark a surge in engagement across the board. Weary social users – increasingly feeling as if they have seen it all before – crave this authenticity. They want to see something new.

Keeping the industry authentic

Brand ambassadors have been – and will always be – an effective marketing tactic. Thankfully software is becoming much more sophisticated and adept in spotting fraudulent accounts. But to preserve the power of the channel, all parties involved must uphold their responsibility to keep the industry clean. Just as influencers monitor their followings, brands must be just as diligent with their choice of partners. Do your background checks. Make sure that their engagement rate correlates with their following, or enlist the help of a platform.

With more conversion functions from Instagram – like shoppable tags and ‘swipe up to buy’ –  the potential for influencer marketing is huge. Prioritise authenticity, practise due diligence and you can be sure your efforts will be rewarded.

By Aaron Brooks,

Co-founder of mobile content and influencer marketing platform, Vamp

Sourced from Global Banking & Finance Review

By Rashi Varshney

Dr Vivek Mansingh, partner and mentor at Gurugram-based early-stage VC fund YourNest, has had a long and successful journey. In an interview with YourStory, he speaks about the importance of innovating, and why startups and companies should ‘think of innovation as oxygen for their organisations’.

“I believe that innovation is a skill, a combination of art, science, and creativity that can be learned by individuals and companies,” says Vivek Mansingh, a partner and mentor at Gurugram-based YourNest, an early-stage venture capital fund.

Based in Bengaluru, Vivek Mansingh has had an incredibly successful global career of more than 30 years across two continents. He began his career in the US as a scientist at Hewlett Packard in Cupertino, and then moved to Fujitsu in 1991 as a Director of Marketing & Sales in California. In 1997, he founded ATTI, a subsidiary of Aavid, and then sold the successful company in the Bay Area. Upon returning to India in 2001, he worked at two US and India startups that exited to Philips and Oracle, headed Dell’s research and development centre, and served as President for Cisco Systems’ Collaboration and Communications Technology Group managing global teams. During his stint, he worked directly with the likes of Steve Jobs, Michael Dell, and John Chambers on innovation among other things.

Vivek holds six US patents and is a gold medal-winning engineer from NIT Allahabad. He obtained a PhD from Queen’s University, Kingston, Canada, in 1986 and completed an Executive Business Management Program at Stanford University in 1996. In an extended interaction with YourStory, Vivek reveals how critical innovation is for startups in India and why the next unicorns will come in the B2B space.

Vivek Mansingh
Vivek Mansingh has worked directly with the likes of Steve Jobs, Michael Dell, and John Chambers on innovation among other things.

Edited excerpts of the interview:

YourStory: Can you take us through your innovation journey?

Vivek Mansingh:  My innovation story is very personal and interesting. My tryst with innovation started just after my PhD while I was in Silicon Valley. I gave myself a goal to be financially independent by the age of 40. The path I chose to achieve this goal was innovation. After a lot of hard work, I invented an instrument, used for hardware system design, patented it and licensed it to a Boston company. The instrument was sold to literally every company that designed electronic systems around the world. Thanks to the patent protection, I earned royalty on this invention for 17 years, and became financially independent.

My other five patents came from HP and Fujitsu while I was working at the Silicon Valley. After that, I moved to a management role, and though involved with leading large innovation programmes at Dell and Cisco, and engaged with engineers at nuts-and-bolts level on innovation, decided not to file patents in my name. Otherwise, I would have at least 30 patents.

If I look back at the biggest achievements of my life, innovation will be very much on top.

YS: Looking at the startup ecosystem and its changing landscape, how does innovation play a critical role? 

VM: Innovation has been a fundamental part of economic growth in the last 100 years. Umpteen successful companies have been built on the foundation of innovation; a large number of very successful companies have been destroyed by the lack of innovation. Ensuring the DNA of innovation in their companies is the highest priority for 92 percent CEOs.

Big or small, every company needs the magic of innovation. In terms of startups, there is always some innovation in the organisation itself as a startup provides a better solution for an existing problem. The innovation can be technology-based, business model-based, process-based, or in any other form. But there has to be some kind of innovation. The critical question is: does this innovation provide the startup a sustainable and BIG competitive advantage to build a successful company?

In B2C startups, India has done fairly well with examples like Flipkart, Paytm, MakeMyTrip, Naukri, Ola, and many others. These companies have done a great job. However, by and large, these startups have relied on a successful global model. But they have done an amazing job of innovation in their ability to compete with the best in the world with solutions built from India. In addition, there has been good innovation in optimising the solutions for India.

When it comes to B2B, there are a few differences and this is the space where YourNest largely focuses. In the B2B space, the Indian market is not large enough, so startups have to look at global markets and eye a globally sustainable competitive advantage from day one. They may start by selling the product in India and later to the US and the rest of the world. But from day one, their thinking – in terms of product, technology and business model – has to meet global standards.

If you take India-based successful B2B companies like inMobi, Freshdesk, Zoho, Dhruva, and upcoming startups like Uniphore, KaHa Technologies (YourNest portfolio companies), to name a few, all these companies are designing solutions to address global markets from the early stage. Hence, the value proposition of the product and solution has to be based on deep innovation.

Another class of B2C startups is where they are offering products to global markets. YourNest portfolio company Miko is a good example. They are building AI-based learning and companion robots for small kids. The product already has traction in India and the Middle East, and will be launched in the US and the UK soon. Again, the innovation quotient for this product is world class from the early stage.

Therefore, deep innovation is critical for startups, but even more so for B2B. Of course, these innovations, when properly packaged and filed, become patents.

YS: What are the gaps that India faces when it comes to the patent ecosystem? 

VM: Countries like the US, China, and Japan file around 50,000 patents in a year while India files somewhere around 2,000 patents per year. Therefore, at this moment, we are far away from any of these leading countries. The good news is that we are now moving in the right direction and our innovation ecosystem is much stronger than reflected by the number of patents filed in India.

In my opinion, both startups and large companies in India need to start deep innovation and patent these. We have a healthy ecosystem of about 20,000-30,000 startups. If half of these file even one patent each, we should see 15,000 patents filed in India in the next few years. Our large companies should seriously consider innovation as oxygen for their organisations. If they do, thousands of patents can come from them.

Another important point to understand is that a patent is country-specific and needs to be filed country by country. So, if a large market for a product is in the US, even an Indian company may first file a patent in the US rather than India, hence reducing the number of patents filed in India.

Another factor, most MNC R&D centres in India file patents in their own respective countries for innovation coming out of these centres. These could be several thousand patents every year alone.

Hence, one should not judge India’s innovation prowess by looking at patents filed in India. The ecosystem is much better and bigger.

YS:  What is your view on patents for startups? Realistically, at what stage should they file for a patent?

VM: I strongly believe that startups need to innovate hard and file patents as early as possible. They need to focus on filing patents in their core areas. A patent allows protection for about 17 to 20 years, after which, patents come into the public domain.

Since patents are country-specific, my suggestion to founders is to file a patent in the country where the innovation was done in addition to countries that are large markets for their products.

YS:  A lot of startups believe that filing a patent is not a strategic decision but a financial decision. What do you have to say about that? 

VM: As mentioned earlier, patents are granted country by country. So, if your market is in the US, Germany, the UK, Japan, China, and India, one has to file a patent in each country. Although in India patent cost is a couple of thousand dollars, in the US and other countries, it is around $10,000 for each country. If one has to file multiple patents in multiple countries, the cost can become prohibitive for a startup.

My suggestion to startups is to not go by the number of patents, but file patents in the core area of technology that differentiates their solution and gives them a significant and sustainable competitive advantage.

A good patent with solid claims can become an invaluable differentiator and one such patent can be better than 10 ordinary patents. To elaborate on claims, a patent claim is the most important part of a patent. It defines exactly what is claimed by the invention and therefore what is sought to be protected.

In addition, patents make startups more valuable in the eyes of investors and partners.

YS:  Can you provide some examples of how have you helped your startups innovate?

VM: During my stints as head of R&D at Dell and Cisco, I drove innovation across these companies. These practices were so successful that they were adopted globally. I understand how innovation DNA can be institutionalised and that is what I do with portfolio companies of YourNest. 

The first step is to encourage our founders to take innovation seriously from early stages of the company and file patents.

I am a big believer in collaborative innovation. We engage with startups to identify their core technology areas, go deep in competitive solutions, do out-of-the-box thinking to bring new ideas to the table, brainstorm on each potential idea vigorously, and finally come up with some unique innovative ideas.

People sometimes associate innovation to a single person; however, collaborative innovation is much more productive.

For instance, one of YourNest’s portfolio companies is Golflan.  They are developing deep technology products to improve the golf experience. It shares a full 3D map of the golf course with golfers to enhance their game. In addition, their AI-driven features increase efficiency of golf courses. It is a fairly complicated hardware-software deep technology product where innovation was done together by Golflan team, myself, and a YourNest technology director. It is a very successful and amazing product installed across some top golf courses around the world.

As many golf courses do not use a cart, Golflan wanted another handheld product with the same features. After understanding various factors like the product requirement, competition, our core competencies to name a few, we came up with a mobile product with a competitive pricing. Again, this was true product innovation done collaboratively by Golflan and YourNest teams. I see phenomenal success for this product around the world.

Incubator

Miko is a beautiful innovation from India and is now heading for the global market. One of our associates at YourNest has worked closely with CTO and CEO of Miko to innovate and patent some key technologies. As the product is ready to be launched in the US, I have worked closely with the founders to drive innovation that helps in localising the product for US markets.

Another portfolio company Lavelle Networks is working in the SDN area (software-defined network). We are working closely with the founding team to help them innovate and patent some critical pieces of technology that can give them a sustainable technology edge.

In a SaaS startup, Wolken Software, working closely with the founders, we were able to innovate on a strong base platform makes the product stand out in terms of new features, scalability, and deployment agility. This company has been able to win global customers at this early stage due to this hardcore innovation.

At EnCloudEn, I have asked the CTO to not come to office for a week and dedicate the time to innovation. We will spend time to go deep into core technology and competitive state-of-the-art technologies, and then bring out-of-the-box ideas for their product. The goal is to come out with a couple of patentable ideas in that week that can be drilled down further to come up with solid patents.

Many YourNest portfolio companies have done tremendous innovation, acquiring multiple patents even at their early stages. KaHa Technologies (23), Uniphore (19), Orbo (10), Miko (1), (5 more in the pipeline) and SSTS (4), to give a few examples.YS:  What do you think is the next big thing for India’s startup ecosystem?

VM: India is on the right path. In phase one, companies like Infosys and Wipro established themselves as global companies of magnificent size. In the second phase, our B2C companies like Flipkart, Ola, and Paytm have set global standards by becoming very successful unicorns. We will continue to see B2C successes, but I think India is now ready for good number of B2B successes. I believe you will see 30 B2B unicorns from India in the next 10 years. These companies will be globally successful based on deep innovation done right here in India.

YS: You have had a long career and are now extensively involved with startups. What are you planning next?

VM: My personal goal is to help create at least three B2B unicorns from India in the next few years. I would also like to see YourNest become the best deep tech Indian fund in early-stage funding, and nurture some global successes.

On the nonprofit side, I am on the board of Janaagraha and Dream A Dream, have adopted a hospital and built ICU and maternity wards there, run a school for handicapped children, a school for less privileged, and a free programme for corrective surgeries for handicapped children.

Lots to do!

By Rashi Varshney

Sourced from Your Story

By Erik Sherman

Hype isn’t a good reason to invest in marketing tools without thoroughly checking them out.

Influencers? Don’t trust ’em. Not the individual person, perhaps, but the concept as frequently presented. As a recent report notes, things are getting to the point that businesses lose a collective $1.5 billion a year in a combination of scams, users’ distrust, and invisible disengagement.

Not that it should come as a surprise. Rented followers is an old story at this point

Many influencers also have no idea what they’re talking about, as the late and apparently sometimes great Payless Shoes proved by inviting fashion influencers to a private showing, watch them go into raptures over the footwear, and then telling them the source.

“Shut up! Did I just pay too much?” one asked who said a pair of sneakers would be worth hundreds. Uh, yup.

The new study–really a meta-analysis by Roberto Cavazos, a professor at the University of Baltimore, on behalf of adtech company CHEQ AI Technologies–suggests that things in the influencer world are even more problematic. Here are a few of the issues he brings up:

  • Fake followers: There are scams aplenty in influencer marketing, like Potato, only without acknowledgment to prove a point and at much higher rates of occurence. Depending on the study, numbers of fake followers in influencer audiences range from 20% to 78%.
  • Sneaky tactics: People will grow their follower base by doing things like following others, waiting for them to follow back, and then unfollowing. If most of those others aren’t checking and unfollowing in return, it boosts the apparent figures without a real connection. The influencer is just another random person.
  • Attrition: Many people who use social networks lose interest or move on to other ones. A significant percentage–commonly 30%, according to figures Cavazos cites, but possibly going as high as 90% for many influencers–may no longer be there. The audience capacity keeps showing like the size of a theatre but many of the chairs are empty.
  • Audience distrust: This may be even more damning than the other items. Again, depending on the source of the stats, as few as 4% of people on the Internet trust what influencers say on social media and a majority of people think influencers are trying to scam their audiences.

I spoke with Lena Katz, a branded content strategist, who works with clients on content distribution strategies that often include an influencer component. She said all the problems are well known. “Fake engagement, being able to buy likes, is not new,” she said. It’s been going for years.” She thinks the audience disaffection has been growing over time. It’s bad news on the influencer front, at least how companies and agencies have approached it.

Katz suggested a few approaches she’s found to work. One is to partner with businesses or specialty tradespeople or solo practitioners who are influential in their own right among a customer base. Companies and people with actual revenue streams and not a dependence on Instagram posts. “It’s a reliable strategy for building influencer campaigns where you’re more likely to generate ROI,” she said, because the people going to that site or account are accustomed to actually doing business there. “The followers of their accounts are more likely to be real customers, not bot-inflated followers of ‘professional influencers’ that will never buy a product.”

Katz mentioned working with an apparel brand. Out of 50 “fashion influencers,” fewer than five were able to sell two items of clothing with a discount code. What did work? Having a wedding photographer do a fashion shoot then do giveaways. “It did 10 or 20 times better than any of the influencer posts,” Katz said.

Look for individuals or businesses with skills or products people seek out and where an influencer campaign might overlay well with what they do. “If you have a caffeine drink, [don’t get] a barista,” Katz said. Instead, look for “someone who would drink a caffeine drink to help them do their job better.” Who’s more believable? That barista or, perhaps, a bus or truck driver who has to stay alert on the road for hours at a time?

Companies can do well working with complementary firms or with corporate customers and doing cross-promotions. Katz did that with an e-commerce company that went from nothing to a multi-national business doing millions in annual turnover within three years.

Finally, consider social impact programming. “Pick a charity, something that aligns with your brand, someone that you would want to support,” Katz said. Support the charity with your own products or services.

And, in all cases, focus on tangible results, not engagement “because that can be faked.” Run promotions that require interaction, like people signing up with their email address for a giveaway. The more tangible the concept, the better a chance you’ll get something from it.

Feature Image Credit: Getty Images

By Erik Sherman

Sourced from Inc.

Sourced from The Wall Street Journal

Ecosystem partnerships and cross-functional teams can help spur innovation and enable agility at companies pursuing digital maturity.

Many digitally maturing companies are not only innovating more than their less-advanced counterparts, but they’re also innovating differently, according to “Accelerating Digital Innovation Inside and Out: Agile Teams, Ecosystems, and Ethics,” an annual report from MIT Sloan Management Review and Deloitte studying the effects of digital technologies on organizations.¹ This year’s research focuses on how digitally maturing organizations are drawing on the power of ecosystems, cross-functional teams, and other loosely coupled arrangements to increase innovation and agility.

The surveyed companies each fit into one of three digital maturity categories—early (24%), developing (44%), or maturing (32%)—with maturing companies innovating at far higher rates than less mature businesses in large part by fostering a culture of innovation and providing the resources to support it. Eighty-one percent of respondents from maturing companies cite innovation as an organizational strength, compared with 36% from developing outfits and only 10% from early-stage companies. They invest more in innovation, too, with executives and managers from 74% of maturing companies saying their organizations provide sufficient resources for innovation, versus 39% of developing companies and 15% of early-stagers.

Maturing companies also allocate time for their employees to innovate. Eighty-six percent of respondents from digitally maturing companies say that 10% or more of their time at work involves the opportunity to experiment or innovate. By contrast, more than 40% of early-stage respondents report that less than 10% of their time, or no time at all, involves experimenting or innovating.

Ecosystems a Fertile Source of Innovation

Digitally maturing enterprises are also far more likely to encourage innovation by forming external partnerships. Eighty percent of respondents at maturing companies say their organization is cultivating innovation this way; at developing organizations, that number drops to 59%, and, at early-stage organizations, it falls to 33%. This gap does not exist because less mature companies fail to recognize the importance of these bonds—nearly 80% of respondents across all maturity groups consider partnerships vital to their innovation efforts—but early-stage companies, in particular, are less willing to commit resources to innovation, which can be essential to scaling successful projects with external partners.

Digitally maturing companies also use wide-ranging, capability-building ecosystems to address both short- and long-term objectives. Working with platform companies, for instance, can enable organizations to team up with additional collaborators and jointly explore potential innovations. Ecosystems can also provide collective access to diverse customers, leading to a combined understanding of audience feedback and behavior that often plays a critical role in the innovation process.

Leveraging these partnerships to increase innovation, however, can also present difficulties. Nearly half (46%) of all respondents cite challenges related to creating a collaborative culture and aligning goals across an ecosystem, with results consistent regardless of maturity level. Companies may also struggle with employees and leaders who aren’t naturally inclined to collaborate with external partners.

Buying In to Cross-Functional Teams

While ecosystems are critical to externally focused innovation activities, 83% of digitally maturing companies depend upon cross-functional teams to advance innovation internally, compared with 71% of developing companies and 55% of early-stage outfits. Executives and managers at digitally maturing companies say these teams are more likely to have considerable autonomy regarding how to accomplish goals (69%, versus 53% and 38% at developing and early-stage companies, respectively), to be evaluated as a group (54%, versus 33% and 20%), and to have their senior leaders create a supportive environment for their teams (73%, versus 48% and 29%).

A cross-functional team, with people from multiple departments, might be accountable to a project manager or a corporate innovation executive rather than to their official line manager. Respondents point to enhanced access to resources—such as diverse perspectives, broader skill sets, and new ideas—as the most important benefit. At the same time, operating via cross-functional teams may pose new kinds of management challenges, with more than half of respondents citing problems with team alignment and an unsupportive culture.

Digitally maturing companies also embrace loosely coupled relationships, systems, and processes to support their digital innovation. They give greater autonomy to their cross-functional teams and individual units, which have the freedom to respond quickly to shifts in their market environment. Their interactions with external partners, governed more by relationships than by detailed contracts, enable cross-pollinated skill sets and mindsets. This, in turn, can allow novel solutions to arise more often and more quickly than in tightly controlled systems.

*****

In today’s rapidly changing marketplace, a company’s belief in the importance of innovation is an important enabler of digital maturity. Companies that want to advance digitally can take concrete steps to drive innovation further, developing an ecosystem-driven, cross-functional approach that can have a decisive effect on their progress toward full digital transformation.

Click here to see the accompanying infographic.

—by Gerald C. Kane, professor of information systems at the Carroll School of Management at Boston College; Doug Palmer, principal, Deloitte Consulting LLP; David Kiron, executive editor, MIT Sloan Management Review; and Anh Nguyen Phillips and Natasha Buckley, senior managers, Deloitte Services LP

Editor’s note: This is the first story in a two-part series on the “Accelerating Digital Innovation Inside and Out: Agile Teams, Ecosystems, and Ethics” report.

 

 

Sourced from The Wall Street Journal