Business

Why Enterprise Management is a Must For Your Brand

Enterprise management is one of the modern examples of Enterprise resource planning (ERP). It allows brands to manage vital day-to-day processes such as inventory management, accounting, human resources, and customer relationship management (CRM) to effectively have a competitive edge in the global market. Enterprise management supports how different business components work by distributing information through a shared database. Many ERP software applications have been developed to help companies implement resource planning by integrating all of the processes it needs to run a company with a single system. In view of the serious competition in the global market as a result of the world becoming a global village, the following are pointers as to why you should be at the forefront of brands implementing enterprise management.   1. Globalization Interacting with the world ordinarily offers lucrative opportunities and creates a higher demand for products. Globalization, however, comes with a cost. The crowded global market should be a source of joy to brands but it also means more competition and a rapidly accelerating rate of change. The pressure to innovate, while at the same time keeping costs to a minimum and reducing the time-to-market is a competitive necessity. The copious availability of…

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Business, Technology

Larry Kim of MobileMonkey Answers Where Chatbots is Taking Businesses

One problem that has besieged marketers over the years has been how to engage their teeming customers at scale, but thanks to the advancement in technology, with the continuing research and development as well as the push to innovate, chatbots have come to redress this situation. Marketers now have chatbots, a unique and distinctive opportunity to engage their customers at scale. Chatbots have come to revolutionize the way customers’ questions are answered. Customers are the central point of any kind of business, therefore, all your effort should be geared towards ensuring that your customers’ pain points are addressed promptly. This requires a 24/7 service and there is no way you can do that without chatbots, especially with the world population estimated to be 7.79 billion by 2020. This could be the reason why Larry Kim the founder of one of the largest search marketing company(Wordstream) realized before selling the company to kickstart an entirely new company MobileMonkey that is centered on messaging. In an interview, Larry Kim granted Nature Torch, he bares his mind on what the transition has been like. 1.) What is the transition from founding one of the largest search marketing company(Wordstream) to building a Chatbot company…

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Business, Technology

High Churn Rate in Apps: 3 Causes And Remedies

Across all industries and as of the second half of 2018, 71% of all app users churn within 90 days. This high churn rate is very disturbing and frustrating to businesses taking into consideration that it can cost five times more to convert a new customer than it does to retain an existing one. The customer churn rate is obtained by dividing the number of customers you lost in a quarter by the number of customers you had at the beginning of that quarter. It’s a very important metric in understanding whether your company is experiencing a high customer churn rate. If you are surprised why your brand should be concerned about apps churn rate, users connected to iOS and Android devices spend 86% of there time on apps while they spend only 14% on browsers. What then are these 3 causes of high churn rates in apps? 1. Lack of qualitative value Why you use an app is because you want to solve a particular problem and if that problem persists, you may want to reconsider your initial decision. Meanwhile, the following apps are assessed based on what they do well, Uber – Helps people reliably secure transportation. Waze…

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Business

7 Areas Government Policies Could Affect the CBD Industry

The growth of the legal hemp industry has spun a new market with less legal bottlenecks. Short for Cannabidiol, CBD is a byproduct of the industrial cannabis plant that does not contain the THC, the cannabis property that gets consumers high. With a reported growth projection of $22 billion by 2022, the CBD industry is too big to sniff at. Everyone is interested in taking a bite of it. Analysts have called it the next gold rush, and it’s proving to be one. And the government is not looking away from it. In fact, in America, like in many other advanced countries, the government is deeply interested in the CBD industry. With the US government highly invested in the control of the CBD industry, expect to see policies impact its growth over time. Preparing towards these impacts can help the true entrepreneur better navigate the challenges the CBD industry will pose and build a thriving business out of it. 1. Distribution Even though the 2018 Farm Bill passed by President Trump legalizes the use and sale of CBD across all 50 states, the distribution of cannabis products is still under serious restrictions. FDA Commissioner Scott Gottlieb, M.D., on signing of…

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Business

A Concise Explanation of The Startup Accelerator Program

Entrepreneurs with a startup idea have always found it hard to get their feet off the ground. Mainly, the difficulty lies in getting the initial and adequate funding you need to spring up and spending it in the right way to elicit growth. Well, with startup accelerator programs, there’s a way for entrepreneurs to scale their business in a short period. The concept is relatively easy to understand; you apply for these programs, and then you go on a 3-month intensive program with the aim of developing as an entrepreneur and learning how to grow your company. If you were taken in by that, it was just the tip of the iceberg. The juice is that successful applicants receive something called ‘seed money’ to invest in their business – in return for equity. On average, you can get anywhere between $20-50,000 investment from these programs, so it’s well worth looking into. As of right now, there are 186 startup accelerators in North America, with 3,296 businesses receiving investment through them. This amounts to approximately $107.3 million! In truth, the hope of investment is what attracts most entrepreneurs to these programs, but you get so much more than that. Once accepted,…

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Business

How to Get a Big Chunk of The CBD Largesse

Cannabidiol (CBD) is the rave now and expectedly so since any industry that can rake in a projected $23 billion by the year 2025, is more than worth having a crack at. The recent global interest on CBD stemmed from the signing of the 2018 Farm Bill into law by President Trump in December. That singular act of President Trump has sent the hemp industry into an economic frenzy of a mammoth dimension. Over 25,000 products which include automotive parts, construction materials, food and beverages, furniture, cosmetics, and the textiles are hemp-based. Why all the fuss? The 2018 Farm Bill empowers you to cultivate hemp broadly, not like the 2014 Farm Bill that permitted cultivation for simply pilot programs for studying market interest in hemp-derived products. It expressly permits the transportation of hemp-derived products across state lines for commercial or other purposes. The hitherto restrictions placed on the sale, transport, or possession of hemp-derived products have been removed, provided you produce the items according to the manner stated in the law. This is a golden opportunity, a once in a lifetime chance you can’t allow to fritter away. The slot is open for all comers — corporations and individuals, and…

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