Marketing, Technology

How to Boost Account-Based Marketing With AI

Kaplan and Haenlein, define Artificial Intelligence ( AI) as “a system’s ability to correctly interpret external data, learn from such data, and use those learnings to achieve specific goals and tasks through flexible adaptation.” Account-based marketing (ABM) on the other hand completely depends on data and its interpretation. On a daily basis, people are churning out very large volumes of data and according to sources, about 1.7 megabytes of new information will be created every second for every human being on the planet by the year 2020. Since technology has conferred the status of a global village to the world, trails you leave anywhere in the world can easily be located, collated, analyzed, and stored in a database for future use. Some few years back, it wouldn’t have been easy to get this information and even where you do it would take much time and effort. But now, algorithms, tracking codes, and advancements in technology such as machine learning and artificial intelligence (AI) mean that this process can be almost entirely automated, sparking insights throughout the sales lifecycle that humans otherwise would not see. This is where AI comes in to complement ABM which usually allows for a much more…

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Marketing

How to Spark up Your Brand with Participation Marketing

You have been bogged down with how to take your brand to another level, you are so obsessed with the idea but utterly confused on how and where to start, stop the fret, you’ve just hit the jackpot, participation marketing is your antidote. By leveraging participation marketing, you ensure that your brand is on everybody’s lips. With participation marketing or customer participation, you create promotional efforts with the intention of drawing your audience into ongoing engagements, experiences, and conversations with your brand. They will at the end have greater access to a wider variety, faster and more secure products, and market-leading customer service. You confer the status of a living object to your brand and your customers literally see the brand in their shadows and every day living. They will walk, work, talk, eat, and dream your brand. It becomes their next door neighbor, a familiar face down the street. Participation marketing is an innovation brought to the bare, it does not require a big budgeting, it’s something you can carry along in a stride. The overall essence is to directly engage your customers in your marketing campaigns with little or no financial involvement. You will unwittingly transform them into…

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Marketing

Using Data-Driven Approach to Anticipate Buyers Behavior

In order to build a successful marketing campaign in these days of IOT, data-driven approach is absolutely too important to be ignored. The only twist is that based on the large amounts of data available and the technologies required to analyze them, the job can be overly intimidating. According to reports, data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. But rather, unfortunately, less than 0.5 percent of all data is analyzed and used. Consumers are very much aware of the fact that marketers have access to an avalanche of information about them and have decided not to take matters lying low, they are researching the market landscape like never before. The scenario can be likened to what is good for the geese is good for the gander. This has incidentally made the path-to-purchase journey more complex as consumers have evolved more ways to research before they buy than ever before. Marketers, therefore, need to base their campaigns more on a data-driven approach than ever before. According to KPMG’s 2017 study “The Truth About Online Consumers, there are four…

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Business

Outsourcing: The good, the bad, and the ugly

The competition experienced in the global market has tuned up brands to do everything possible to come up with products and services of sterling qualities. To this end, a lot of brands resort to outsourcing in order to fill up gaps that will enhance their competitive advantage. Outsourcing is all about brands hiring sources from outside the company to perform services or create products which ordinarily should have been done in-house by employees and staff of the company. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. In the business world, outsourcing is subject to considerable controversy. A group, especially in the manufacturing sector argues that it has caused the loss of domestic jobs. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free market economies on a global scale. The good There are a whole lot of reasons why you may decide to embark on outsourcing some certain tasks in your company. It can help you to reduce labor costs significantly by avoiding expenses associated with overhead. You also have…

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Business

Why You Need The New Face of Retail

A few years back, the determinants in retail success have basically been location, store design, and curb appeal, with most of them completely relegating to the background any insight to the changing customer behavior. The retail apocalypse has, however, necessitated the new face of retail. According to the Statista, The fact that the ongoing rise of e-commerce in the United States is hurting brick-and-mortar stores is undisputed. Two corporations that filed for Chapter 11 bankruptcy protection in October 2018, are retail giant Sears and Mattress Firm. Despite reducing assets and selling real estate over the years, Sears was unable to pay off $134M worth of debt. Sears Holdings, the parent company of Sears and Kmart, said it plans to keep profitable stores running. By the end of 2018, the company is looking to shutter at least 188 stores. The latest list of store closures includes 45 Kmart locations and 18 Sears boxes. Mattress Firm, on the other hand, said it would shutter 200 underperforming locations right away, and look to potentially close 700 stores altogether over the next few months. In conjunction with its prepackaged restructuring plan, it received commitments for about $250M to help support ongoing operations during the…

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Marketing

The Unethical Secret to Target Consumer in 2019

The most important yardstick to measure successful marketing is the ability to reach your target consumer, convert them to do purchases, and make a whopping return on investment (ROI). This sounds rather simple but without being armed with the fundamental secret, you will still be revolving around a circle. Your target audience is that group you’re trying to sell your product or service to. The purpose of marketing is to reach that group and make them see the reason why they should be buying from you and nobody else. In order to reach your target consumer, however, you have to understand their motivations and habits as they pertain to your product. With this, you can fathom a better reason to make them buy from you. Marketing has been inundated with different ideas and means of reaching and converting potential consumers like the application of data science, using influencers, advertising, micro and hyper-targeting, affiliate marketing, and a host of others. While all these are ethical ways to target and possibly convert the audience, they will not make you wholly thoroughbred and an overwhelmingly successful marketer. In order to boost visibility and increase sales while sustaining a profit with a converting offer,…

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